Latest news with #New Delhi
Times of Oman
2 hours ago
- Business
- Times of Oman
Indian IPO market resilient in H1 2025 with 108 deals raising $4.6 bn despite 30% dip in volume: EY
New Delhi: Indian Initial Public Offering (IPO) activity in the first half of 2025 recorded 108 deals raising USD 4.6 billion, demonstrating market resilience despite a 30 per cent decline in transaction volume compared with the previous period, according to a report compiled by EY. According to the report, fundraising proceeds declined only marginally by 2 per cent, indicating that while fewer companies accessed public markets, the quality and scale of offerings remained robust. The EY stated that the trend reflects a more selective approach by both issuers and investors, with companies prioritising optimal market timing and valuation strategies. The cautious environment has been shaped by ongoing global uncertainties and geopolitical tensions, leading several high-profile companies to postpone their listings or reassess valuations. Nevertheless, a strong pipeline of high-profile IPOs is ready to enter the market in the second half of 2025, as many companies are strategically waiting for improved conditions to launch their offerings. Despite these near-term headwinds, the regulatory environment remains supportive, with numerous companies having secured necessary approvals while maintaining readiness to launch their offerings when market conditions align with their strategic objectives. The pipeline remains particularly strong across key growth sectors, such as Technology, including fintech, and Health Care. The report added that the market participants anticipate improved performance in the second half of 2025, driven by stabilising macroeconomic conditions, easing inflationary pressures and supportive government initiatives aimed at strengthening capital market development. The combination of improving domestic economic fundamentals and a robust pipeline of quality issuers positions India's IPO market for potential acceleration as investor sentiment strengthens and market volatility subsides, the report added. As per the report, in the first half of 2025, the global IPO market recorded 539 deals, raising USD 61.4 billion, flat year-over-year (YOY) in terms of deal count, but reflecting a notable increase in total proceeds. The second quarter saw just 241 IPOs, with USD 31.5 billion in capital raised, which was the weakest second-quarter performance since 2020 by number. Asia-Pacific led with solid growth, and the Middle East stood out with expansion, while the Americas remained stable. In contrast, Europe and India experienced declines. Three markets, namely the US, India, and Greater China, each launched more than 100 IPOs in H1 2025, according to the report.
Al Arabiya
20 hours ago
- Business
- Al Arabiya
India's financial crime fighting agency summons Google, Meta executives, sources say
India's financial crime fighting agency has summoned executives of tech giants Google and Meta to its headquarters on Monday as it investigates accusations of money laundering on online betting apps, two government sources said. The Enforcement Directorate (ED) is investigating whether the platforms eased the way for promotion and wider reach of betting apps through advertisements, the first source said. A date of July 21 has been set for the appearances at the agency's headquarters in the capital, New Delhi, the source added. A second government source accused Google and Meta of using their platforms to promote illegal activities, despite a government advisory against the advertisement of any form of betting. The agency will investigate Google and Meta over the funds they received from betting apps, the second source added, as well as checking if they were advertising or promoting any other betting platforms. Both sources sought anonymity as they were not authorized to speak to media. Google and Meta did not immediately respond to Reuters' requests for comment. Betting and gambling pose 'significant financial and socio-economic risks for consumers, especially youth and children,' India's information and broadcasting ministry told television channels and digital media in an advisory in 2022. Promotion of offline or online betting and gambling through advertisements was not advised in the larger public interest, the ministry added.
Reuters
21 hours ago
- Business
- Reuters
India's financial crime fighting agency summons Google, Meta executives, sources say
July 19 (Reuters) - India's financial crime fighting agency has summoned executives of tech giants Google (GOOGL.O), opens new tab and Meta (META.O), opens new tab to its headquarters on Monday as it investigates accusations of money laundering on online betting apps, two government sources said. The Enforcement Directorate (ED) is investigating whether the platforms eased the way for promotion and wider reach of betting apps through advertisements, the first source said. A date of July 21 has been set for the appearances at the agency's headquarters in the capital, New Delhi, the source added. A second government source accused Google and Meta of using their platforms to promote illegal activities, despite a government advisory against the advertisement of any form of betting. The agency will investigate Google and Meta over the funds they received from betting apps, the second source added, as well as checking if they were advertising or promoting any other betting platforms. Both sources sought anonymity as they were not authorised to speak to media. Google and Meta did not immediately respond to Reuters' requests for comment. Betting and gambling pose "significant financial and socio-economic risks for consumers, especially youth and children," India's information and broadcasting ministry told television channels and digital media in an advisory, opens new tab in 2022. Promotion of offline or online betting and gambling through advertisements was not advised in the larger public interest, the ministry added. Domestic news agency ANI first reported the news.
CNA
21 hours ago
- Business
- CNA
India's financial crime fighting agency summons Google, Meta executives, sources say
India's financial crime fighting agency has summoned executives of tech giants Google and Meta to its headquarters on Monday as it investigates accusations of money laundering on online betting apps, two government sources said. The Enforcement Directorate (ED) is investigating whether the platforms eased the way for promotion and wider reach of betting apps through advertisements, the first source said. A date of July 21 has been set for the appearances at the agency's headquarters in the capital, New Delhi, the source added. A second government source accused Google and Meta of using their platforms to promote illegal activities, despite a government advisory against the advertisement of any form of betting. The agency will investigate Google and Meta over the funds they received from betting apps, the second source added, as well as checking if they were advertising or promoting any other betting platforms. Both sources sought anonymity as they were not authorised to speak to media. Google and Meta did not immediately respond to Reuters' requests for comment. Betting and gambling pose "significant financial and socio-economic risks for consumers, especially youth and children," India's information and broadcasting ministry told television channels and digital media in an advisory in 2022. Promotion of offline or online betting and gambling through advertisements was not advised in the larger public interest, the ministry added.
Times of Oman
a day ago
- Business
- Times of Oman
ED summons Google, Meta on July 21 in Betting App case
New Delhi: The Enforcement Directorate (ED) has issued notices to tech giants Google and Meta in connection with its ongoing investigation into alleged money laundering linked to betting applications, official sources said. As part of the probe, the ED has summoned representatives from both companies to appear before its Delhi headquarters on July 21. According to sources, "Google and Meta platforms are promoting betting apps through advertisements and facilitating their reach to users." The agency is examining the role of digital platforms in enabling the promotion of these illegal apps, which are under scrutiny for potential violations of the Prevention of Money Laundering Act (PMLA). The move comes days after the ED searched four locations in Mumbai in a major dabba trading and online betting case, seizing unaccounted cash of Rs 3.3 crore, along with luxury watches, jewellery, foreign currency, and luxury vehicles. Cash-counting machines were also discovered during the search operations. The Enforcement Directorate is examining financial and operational activities of 'dabba trading apps' involved in illegal trading and betting platforms, namely VMoney, VM Trading, Standard Trades Ltd, IBull Capital Ltd, LotusBook, 11Starss, and GameBetLeague. As per officials, "online betting platforms operated through white-label apps and ADMIN rights exchanged on a profit-sharing basis." "Hawala operators and fund handlers identified, with digital and financial records, are being examined," the officials, privy to the development, told ANI. As per ED, a Prevention of Money Laundering Act (PMLA) investigation initiated in the case on the basis of First Information Report registered at Lasudiya Police Station in Madhya Pradesh's Indore on January 9 this year, invoking Sections 319(2) and 318(4) of Bhartiya Nyaya Sanhita (formerly IPC Sections 419 and 420). ED investigations revealed that "Vishal Agnihotri, the beneficial owner of VMoney and 11Starss, acquired ADMIN rights of the LotusBook betting platform on a 5 per cent profit-sharing arrangement. He subsequently transferred these rights to Dhaval Devraj Jain, retaining 0.125 per cent profit while Jain held 4.875 per cent." As per the officials, "Dhaval Jain, along with his associate John States alias Pandey, developed a white-label betting platform and supplied it to Vishal Agnihotri for running
