Is Lulu Group planning for an IPO in UAE in 2023?
By MYBRANDBOOK
According to a news report published in Bloomberg, Lulu Group International, which runs one the Middle East's largest hypermarkets chain, is planning an IPO in 2023.
Citing people familiar with the matter as the source, Bloomberg has reported that the Abu Dhabi-based Lulu Group has asked global banks to pitch for roles for potential listings.
Lulu Group is founded by Indian-born businessman Yusuff Ali.
The diversified conglomerate - valued at more than $5 billion in 2020 -- may opt for multiple listings in the Gulf stock exchanges, the report said.
“We don’t want to comment on market rumours,” Bloomberg quoted V Nandakumar, Lulu Group’s Director of Communications, as saying.
Besides the Middle East, the company also operates shopping malls in India, Malaysia, Indonesia and Egypt. It has other businesses including hospitality, shipping and real estate.
Last Saturday, the company announced an investment of more than $463 million in India's southern state of Tamil Nadu to build two shopping malls and set up an export-oriented food-processing unit.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : Bhavish Aggarwal
Indian entrepreneur Bhavish Aggarwal is the CEO of Ola, India’s larg...
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - Aneel Bhusri, CEO, Workday
Aneel Bhusri, Co-Founder and Executive Chair at Workday, has been a le...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...