Reliance Retail to reduce equity share capital

New Delhi

Reliance Retail on Friday said it will reduce the equity share capital to the extent held by shareholders other than its promoter and holding company. “A consideration of Rs 1,362 per share, determined on the basis of valuation obtained from two reputed independent registered valuers, shall be paid towards the capital reduction,” said an exchange filing by its parent firm Reliance Industries. PTI

NEW DELHI

Rosneft appoints ex-IOC director on its Board

Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director on its Board in signs it may be looking at boosting trade links with India. GK Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong Board of directors of Rosneft. PTI

New Delhi

ideaForge Tech shares debut with 94% premium

Shares of drone maker ideaForge Technology on Friday got listed on the bourses with a huge premium of 94% over its issue price of Rs 672. It listed at Rs 1,305.10, reflecting a steep jump of 94.21% on the BSE. On the NSE, the scrip made its debut at Rs 1,300, witnessing a sharp uptick of 93.45%.PTI

Mumbai

Forex reserves rise by $1.85 bn to $595.05 bn

India’s foreign exchange reserves rose by $1.853 billion to $595.051 billion in the week ended on June 30, the RBI said on Friday. The overall reserves had dropped by $2.901 billion to $593.198 billion in the previous reporting week.