The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
Beleaguered Paytm Payments Bank's managing director and CEO Surinder Chawla has resigned from the company, a regulatory filing said on Tuesday. Chawla's resignation comes amidst Paytm Payments Bank facing prohibitory action from banking regulator RBI. "Surinder Chawla, managing director and CEO of PPBL, has tendered his resignation on April 8, 2024, on account of personal reasons and to explore better career prospects.
Fintech major PhonePe on Wednesday announced the launch of its homegrown Indus Appstore specifically for the Indian market, in a bid to compete with global incumbents like Google Play Store and Apple's App Store. The Indus Appstore is PhonePe's attempt at creating a more competitive and localised mobile app store economy for India, which is already the world's largest market for mobile apps.
'As the city grows, so do its fire incidents.'
The notification came days after the Bombay high court declined to restrain the Centre from notifying the unit. The petition was filed by stand-up comedian Kunal Kamra and the Editors Guild of India.
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation "realistic" and distinguish between the goals of the organisation and its founder. "Startups may strive for long-term value creation rather than short-term valuations. "The valuations of businesses should be kept as realistic as possible," CII said in its Corporate Governance Charter for Startups.
The Philippines Navy this month alleged that the Chinese ships used water cannons to attack its ships.
'I do not think the scam is limited to 1,563 students. The number is too low to have caused such an inflation in the marks'
The Delhi high court has imposed costs of Rs 1 lakh on a man who made Lord Hanuman his co-litigant in a plea concerning the possession of a private land having a temple of the deity.
ABB India's March quarter results (Q1CY24) were led by strong margin performance. Revenue was, however, largely in line with estimates at Rs 3,080 crore (up 28 per cent Y-o-Y and up 12 per cent Q-o-Q). The growth was across electrification (30 per cent Y-o-Y), process automation (73 per cent Y-o-Y) and robotics & motion (8 per cent Y-o-Y).
Edtech major Byju's top official on Wednesday said the company's $200 million rights issue has been fully subscribed and asked all shareholders to participate in the "renewed mission". Think and Learn Private Limited, which operates under Byju's brand name, has floated $200 million rights issue at less than 99 per cent enterprise valuation compared to its peak valuation of $22 billion. "Our rights issue is fully subscribed and my gratitude to my shareholders remains strong.
'What matters is policies, not personalities like Priyanka, Rahul or Modi.'
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
Soccer's governing body FIFA has agreed to ban the third-party ownership (TPO) of players, its president Sepp Blatter said on Friday, seven years after first promising to outlaw the practice.
'Despite the animosity shown by some of the investors in pursuing uncalled for legal actions, we continue to show good faith towards all our shareholders.'
Ramesh alleged that through the "electoral bonds scam", the Bharatiya Janata Party has collected Rs 8,200 crore and used the route of "pre-paid, post-paid, post-raid bribes and shell companies".
Mobile wallet adoption is surging in India and swiftly becoming a primary payment option, surpassing traditional methods like cash and cards. Over the next few years, payments via mobile wallets in India are likely to surpass the Rs 531.8 trillion mark in 2028, witnessing a compound annual growth rate (CAGR) of 18.3 per cent between 2024 and 2028, according to GlobalData - a London-based leading data and analytics company. The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion ($2.5 trillion) in 2023.
The IT-BT minister claimed that the then BJP government did not merely charge a '40 per cent commission', as his party had claimed during the assembly election, but had collected a commission of more than 400 per cent.
Last week, the Delhi high court ruled that the mere use of trademarks on Google Ads, an online advertising platform, did not amount to infringement under the Trade Marks Act, 1999. This was after online travel agency MakeMyTrip (MMT) claimed that its trademarks, "Makemytrip" and "MMT", were being used as keywords in Google Ads to display ads and links of its rival Booking.com. The order has opened up a new debate on trademark infringement in the digital realm, revolving around whether it can create confusion among users.
Paytm app users will continue to use all services like mobile and DTH recharges except for Paytm Payments Bank's offerings including wallet funds, Fastag and bank accounts, according to the company hit by RBI restrictions. Paytm Payments Bank users will not be able to add any funds to their wallet and bank accounts but will be able to use the balance until it is exhausted, according to the RBI order. "The RBI has issued a directive restricting Paytm Payments Bank account/wallet from accepting new deposits or allowing credit transactions after March 15, 2024.
Dismissing the petitions, a bench headed by Chief Justice Satish Chandra Sharma said Google Pay is "mere third-party app provider" which requires no authorisation from RBI under the Payments and Settlement Systems Act.
The National Payments Corporation of India on Thursday granted approval to Paytm-owner One97 Communications Ltd to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
Bank of America has named Infosys McCamish Systems as a source of a data breach that it said affected 57,028 customers, as per documents submitted to the Maine Attorney General in the US. Infosys McCamish Systems (IMS) is an Infosys' step-down subsidiary. The notification, penned on behalf of Bank of America, describes the breach as an "external system breach (hacking)", while the information acquired has been mentioned as "name or other personal identifier in combination with: social security number".
The high court said it is essential to ensure the perpetrators of such crimes are held accountable through appropriate legal proceedings.
The Delhi high court on Monday said Trinamool Congress leader Mahua Moitra cannot be prevented from defending herself against allegations made by an estranged friend in public domain as long as her statements are not objectively false.
For many developers, it may not be a sufficient saving to make it worth creating and maintaining alternatives.
Afghanistan pacer Naveen-ul-Haq was on Monday handed a 20-month ban from participating in the International League T20
The Competition Commission of India (CCI) on Wednesday declined an interim relief order that would restrain Google from levying service fees on app developers until a final decision is made by the regulator. The CCI also said the Director General (DG) would continue its investigation as ordered by the commission in its March 15 order. "The Commission is of the considered opinion that no case whatsoever has been made out by the informants which warrant the grant of interim relief. Resultantly, the applications stand dismissed," said the CCI while rejecting the plea by app developers in its order.
Before framing regulations to curb 'misleading' messages and stock recommendations by finfluencers (a portmanteau of the phrase 'financial influencers'), the market regulator plans to put in place some 'building blocks' to ensure smooth enforcement. Madhabi Puri Buch, chairperson of Securities and Exchange Board of India (Sebi), is of the view that the 'traditional approach may not work' to rein in finfluencers. "There are many interlinked pieces in our regulations - investment advisor regulations, research analyst regulations, the fact that we don't have algorithmic (algo)-related regulations, what brokers are permitted to do, and what is incidental advice.
The corporate affairs ministry has asked its field officers to expedite the inspection of the books of Byju's and submit the report, a senior official said on Monday as trouble continues to brew at the edtech firm. The ministry, which is implementing the companies law, will decide the further course of action after receiving the report from its regional office. In July 2023, the ministry had asked the office of the regional director in Hyderabad to conduct an inspection of the company Think & Learn Pvt Ltd, which is registered in Bengaluru.
The curious onlookers that greet the candidates are, however, unaware about the importance of history. They are just there to catch a glimpse of 'Rani Ma' Amrita Roy or Mahua Moitra.
China on Monday said cooperation between countries should not undermine regional peace and stability and target any third party, as it reacted to a host of defence and commercial pacts recently signed between India and the US including joint production of jet engines in India to power military aircraft and a deal on armed drones.
Seven out of the 10 listed firms of Adani group have received show cause notices from the Securities and Exchange Board of India (Sebi) for alleged violation of related party transactions and non-compliance with listing regulations, the companies said in their regulatory filings to the stock exchanges. While group's flagship Adani Enterprises Ltd, renewable energy firm Adani Green Energy Ltd (AGEL) and city gas distributor Adani Total Gas Ltd said Sebi sent notices of their parent or holding company controlled by conglomerate's chairman Gautam Adani, ports company Adani Ports & Special Economic Zone, Adani Power, electricity transmission firm Adani Energy Solutions, and commodities firm Adani Wilmar said they have received Sebi notices.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
'The estimated expenditure is expected to be more than double the Rs 60,000 crore spent in 2019'
'India has the largest slate of local original content outside the US.'
The court disposed of a public interest litigation that sought directions to prevent Kejriwal from issuing orders in his capacity as the chief minister while in ED custody, contending that it was against the legal framework.
'I was laughing and crying at the same time. Right now, just extremely happy that she will be out and amongst us soon.'
A day after investors of the troubled edtech firm Byju's voted for a leadership change, Byju Raveendran has penned a note to employees saying he continues to remain CEO and the management remains unchanged, as he dubbed Friday's EGM as a "farce". The note to employees assumes significance as it comes after Byju's shareholders (prominent investors) on Friday voted for removing founder-CEO Raveendran and his family from the board over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in absence of founders as invalid and ineffective.
'We went from zero to about 10 million users in three months. Paytm came out with the wallet play and we came out with the UPI play.'
