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Aakash Educational Services will issue convertible notes that will convert into equity at a discount of 20% to the listing price of the unit’s planned initial public offering

PhonePe has already raised nearly $450 million in primary capital from PE major General Atlantic, Tiger Global, Ribbit Capital, among others, in this current funding round at a valuation of $12 billion. Some of the existing shareholders in Flipkart like Bansal, Tiger Global, China’s Tencent, Qatar Investment Authority and Microsoft, were expected to buy a fresh stake in PhonePe, as the company put together a new ownership structure.

It is extremely likely that the funds for the transaction, if it were to go ahead, would be drawn from India allocations of the private equity firms in the fray, and negotiations are being done by the India teams of the respective PE firms

If a deal takes place, this will be the second-largest hospital buyout in India after the IHH-Fortis transaction of 2018.

On Tuesday, oil futures fell more than 3% and posted their largest daily fall since early January after comments by U.S. Federal Reserve Chair Jerome Powell that the central bank would likely need to raise interest rates more than expected in response to recent strong data

The central banks in 2021 reviewed the foreign exchange system to rationalise and streamline it, but that may remain incomplete unless the Foreign Exchange Dealers Association of India also doing its part in reviewing its guidelines, RBI deputy governor Rajeshwar Rao said.

Fed Chair Jerome Powell on Wednesday reaffirmed his testimony before Congress from Tuesday of higher and potentially faster interest rate hikes, but emphasized that debate was still underway, with a decision hinging on data to be issued before the March meeting.

Will Federal Reserve refrain from speeding up the pace of interest rate hikes?

As of December-end, the promoter held over 20% stake in Gokaldas Exports. Aditya Birla Sun Life and Goldman Sachs were buyers of co shares today

Meanwhile, shorting in the shares of Silvergate has proved profitable for bearish investors as its shares have lost 95% of their value in the past 12 months and 72% so far this year.