Skip to content 
Search

Latest Stories

BR Shetty’s Finablr confirms its stock market debut in London

INDIAN business tycoon BR Shetty 's Finablr today (16) confirmed its plans to float its shares on London Stock Exchange (LSE).  

The United Arab Emirates (UAE)-based company revealed last week that it was considering a stock market debut in the British capital.  


The payments and foreign exchange company added that the final offer price would be fixed after a book binding process, with the listing expected next month.  

Shetty’s payments firm previously said it aimed to raise more than £153 million from a stock market float in London. 

The firm also plans to sell at least 25 per cent of its equity. 

The company intends to raise a total of about $500m (£382.22m) from the offering, Reuters quoted sources as saying. 

Shetty founded Finablr in 2018 to combine his currency and money transfer businesses such as UAE Exchange Centre, Xpress Money, and Travelex under one brand.  

Shetty, who owns 91 per cent stake in Finablr and serves as co-chairman of the business. 

More For You

Asian firm acquires Kings Court Hotel for £2.75m

UK-based Nanak Hotels acquired the 60-room Kings Court Hotel in Warwickshire for £2.75 million. (Photo: Colliers International UK)

Asian firm acquires Kings Court Hotel for £2.75m

UK-BASED Nanak Hotels recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.

Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.

Keep ReadingShow less
Priya Nair becomes first woman CEO in Hindustan Unilever's history

Priya Nair (Photo: Unilever)

Priya Nair becomes first woman CEO in Hindustan Unilever's history

PRIYA NAIR has been appointed as the CEO and managing director of Hindustan Unilever Ltd (HUL), effective from August 1. She will be the first woman to lead the company in its history.

The announcement was made by HUL on Thursday (10). Nair, who currently serves as president, Beauty & Wellbeing at Unilever, will take over the role from Rohit Jawa, who will step down on July 31 to pursue other interests.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy shrinks again in May, hitting Labour’s growth plans

THE UK economy contracted unexpectedly in May, marking the second consecutive monthly decline, according to official data released on Friday. The figures present a challenge for the Labour government as it attempts to revive economic growth.

Gross domestic product fell by 0.1 per cent in May, following a 0.3 per cent contraction in April, the Office for National Statistics (ONS) said in a statement.

Keep ReadingShow less
SBI UK cuts mortgage rates

The bank's commitment to green lending reflects focus on sustainability (Photo: Getty Images)

SBI UK cuts mortgage rates

BANKING major State Bank of India (UK) has cut interest rates on its buy-to-let mortgage products to help landlords reduce borrowing costs.

The bank said the rate cuts would help landlords invest in rental properties and meet growing demand for rental homes across the UK.

Keep ReadingShow less