News in numbers | SBI sells 5% of NSE stake to Veracity Investments3 min read . Updated: 05 Jul 2016, 02:39 PM IST
In other news, Mukesh Bansal, Ankit Nagori raise $15 million for start-up CureFit
What is it? Global investment banking fees earned by bankers in the first half of 2016
Why is it important? It’s 23% down from the same period last year, indicating that companies are less inclined to go for mergers and acquisitions (M&As). It’s the slowest half year since 2012, and comes as a result of regulatory hurdles against M&A deals in the US and volatility in the market triggered by Britain’s exit from European Union.
Tell me more: JP Morgan, Goldman Sachs and Bank of America Merrill Lynch are the top three players by investment banking fees, with JP Morgan accounting for 7% of total fees drawn. Americas region accounts for 53% of fee earned.
What is it? The total size of potential initial public offerings in India this year
Why is it important? If they come through, it will be up over 3 times from $2.2 billion worth of IPOs in 2015; and most of the action will be in the next six months, given that the first half saw only $1.04 billion.
₹ 911.25 crore
What is it? The amount State Bank of India raised by selling a 5% stake in National Stock Exchange of India to Mauritius-based Veracity Investments.
Why is it important? State Bank had put nearly half of its stake in the stock exchange on block in May, reportedly over concerns about NSE’s delayed IPO. The amount will also help India’s largest lender to shore up its capital in a small way. Its net profits plunged 28% in 2015-16, even as its gross NPAs (bad loans) shot up to 6.4% from 4.29% a year ago. On Monday, its shares went up 1.41% on the announcement against Sensex gain of 0.48%.
Tell me more: Even after the transaction, SBI will still hold 5.19% stake in NSE and its unit SBI Capital Markets will hold 4.33%.
What is it? Cost of cloning a dog at South Korea’s Sooam Biotech Research Foundation.
Why is it important? Despite the high price, there is demand for the service. It has cloned nearly 800 dogs since 2006, and underlines the huge strides in the field since the birth of first cloned sheep, Dolly, exactly 20 years ago. These developments also raise moral questions on how far humans can tinker with production of new life, and on health and social implications of human cloning - if it ever becomes legal.
Tell me more: The dog cloning service was started by veterinarian and researcher Hwang Woo Suk who became a scientific pariah for committing ethical violations in stem cell research.
What is it? The amount Mukesh Bansal and Ankit Nagori, former Flipkart executives, raised for their new healthcare startup Curefit.
Why is it important? Mukesh Bansal is best known for founding fashion e-commerce startup Myntra, which was bought by Flipkart for over $300 million in 2014. It’s not only one of the largest investments for a Series A funding, it’s also an indicator that entrepreneurs and VC firms are looking beyond e-commerce for the next big thing.
Tell me more: The trend is likely to pick up. It was expected that funding for digital health startups will increase outside of US, especially in China and India which have fewer doctors per 1000 people, and the potential for digital solutions is huge. Last August healthcare platform Practo raised 90 million from investors led by Tencent.
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