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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. 

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London tourist levy

The capital recorded 89 m overnight stays in 2024

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London to introduce tourist levy that could raise £240 million a year

Kumail Jaffer

Highlights

  • Government expected to give London powers to bring in a tourist levy on overnight stays.
  • GLA study says a £1 fee could raise £91m, a 5 per cent charge could generate £240m annually.
  • Research suggests London would not see a major fall in visitor numbers if levy introduced.
The mayor of London has welcomed reports that he will soon be allowed to introduce a tourist levy on overnight visitors, with new analysis outlining how a charge could work in the capital.
Early estimates suggest a London levy could raise as much as £240 m every year. The capital recorded 89 m overnight stays in 2024.

Chancellor Rachel Reeves is expected to give Sadiq Khan and other English city leaders the power to impose such a levy through the upcoming English Devolution and Community Empowerment Bill. London currently cannot set its own tourist tax, making England the only G7 nation where national government blocks local authorities from doing so.

A spokesperson for the mayor said City Hall supported the idea in principle, adding “The Mayor has been clear that a modest tourist levy, similar to other international cities, would boost our economy, deliver growth and help cement London’s reputation as a global tourism and business destination.”

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