New Delhi: Gitanjali Gems’ arm Nakshatra World Ltd has filed draft papers with capital markets regulator Sebi to float an initial public offering. The IPO comprises 1.8 crore equity shares of Nakshatra World, which offers jewellery under the brands Nakshatra, Gili, Asmi, Sangini, Diya, Parineeta and Rivaaz, according to the draft red herring prospectus (DRHP). While the exact size of Read More

Britain’s Financial Conduct Authority has asked 20 banks and other financial firms to check if they have any ties to Panama law firm Mossack Fonseca, the regulator said on Thursday. A massive leak of documents from the firm released this week detailed how the world’s rich skipped through loopholes to park cash in low-tax jurisdictions. “We have written to the Read More

Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ), said the leaked documents covered the day-to-day business at Mossack Fonseca over the past 40 years. “I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents,” he said. The documents show 12 current or Read More