BackNews in Numbers: Reliance Nippon Life looks to raise Rs617 crore through IPO
In other news, HDFC Bank has a record of consistently delivering 20% growth
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Rs6,92,000 crore
What is it? The investment envisaged by the government to build 83,677km of roads over the next five years, as one of the measures announced on Tuesday to boost the economy and employment.
Why is it important? Of the Rs6,92,000 crore, Rs1,57,000 crore is to be spent by the state-owned National Highways Authority of India (NHAI). Of the balance Rs5,35,000 crore, Rs2,09,000 crore has been earmarked as debt and Rs1,06,000 crore via public-private partnerships, which have been facing challenges.
Tell me more: Two other measures announced on Tuesday were a Rs2,11,000 crore plan to recapitalise nationalised banks to revive credit, and higher wheat and pulses prices for farmers.
Rs617 crore
What is it? The amount that Reliance Nippon Life Asset Management, which runs Reliance Mutual Fund, is looking to raise via its initial public offering (IPO), which opened on Wednesday.
Why is it important? It’s the first instance of a fund house in India going public. Reliance Mutual Fund is India’s third-largest fund house by assets under management.
Tell me more: Although the issue size is Rs1,542 crore at the upper end of the price band, Rs925 crore will go to the promoters and Rs617 crore to the company.
20%
What is it? The year-on-year growth that HDFC Bank registered in its net profit for the second quarter (July to September) of 2017-18, to Rs4,151 crore.
Why is it important? HDFC Bank has a record of consistently delivering 20% growth. In the last quarter, it managed to do so despite a challenging economic environment and an increase in bad loans.
Tell me more: HDFC Bank is India’s most valuable bank. On 24 October, its market capitalisation was Rs4,81,954 crore, which was more than double that of the next-placed bank, State Bank of India (Rs2,19,865 crore).
5 years
What is it? The number of years it has taken for American coffee chain Starbucks to reach 100 outlets in India.
Why is it important? While India has potential as a coffee market, Starbucks is stepping on the throttle in China. It has 2,800 stores there, in 18 years, and it recently took full control of its 50-50 joint venture in China.
Tell me more: Café Coffee Day, India’s largest coffee chain, has about 1,500 stores across the country.
3
What is it? The number of semi-finalists in the ongoing FIFA Under-17 World Cup who have never won the trophy.
Why is it important? On Wednesday, Brazil play England and Mali play Spain in the semi-finals. Of the four teams, only Brazil has won the trophy: thrice, with its last win coming in 2003.
Tell me more: The 16 editions of the Under-17 World Cup have seen eight countries lift the trophy, with the most being by Nigeria, on five occasions.
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