Shares of One97 Communications Ltd, Paytm's parent company, on Thursday made a tepid market debut, listing with a discount of over 9 per cent from the issue price of Rs 2,150.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
Digital payments and financial services firm Paytm is likely to allocate shares at the upper price band of Rs 2,150 apiece on November 16 after market regulator SEBI's approval which is expected to come on Monday, sources aware of the development said. Earlier the allocation was expected to take place on Monday and the Paytm Money app also displayed the same.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
Improved credit profile may make you eligible to transfer your existing home loan to another lender at a much lower rate.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Rating agency Icra on Wednesday said while there is some evidence of the economic recovery becoming broad-based in the third quarter of fiscal 2022, it is yet to attain the durability being sought by the Monetary Policy Committee (MPC) as a precursor to policy transmission. The agency expects the real GDP to expand 6-6.5 per cent year-on-year in the third quarter of FY2022 (+8.4 per cent in Q2 FY2022). It also sees the RBI maintaining the status quo in the upcoming monetary policy review to be held in February.
The companies have offered to pay upfront the principal amount due for licence fees and spectrum usage charges (SUCs) on the basis of adjusted gross revenue (AGR). This amount will not include the interest, the penalty, and the interest on the penalty.
Winners of recently held 2G spectrum auction will have to make payment, either in full or at least 33 per cent of the due amount, by December 1, the Department of Telecom said on Thursday.
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
The government is learnt to be preparing fresh plans to auction telecom spectrum that can fetch around Rs 39,895 crore.
The RBI's mistake may have been in interpreting its mandate to maintain retail inflation at 4%, with 2% leeway in either direction, as being a mandate that permitted it to do nothing even when inflation was at or near the upper bound of 6%, observes T N Ninan.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
... and I learn more about economic trends than from books, says Ajit Balakrishnan.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed. The IPO is India's biggest since March 2020. Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.
Food ordering platform Zomato, whose Rs 9,375 crore IPO opens on July 14, is planning to launch a grocery section on its app soon, a senior company official said. The company recently invested USD 100 million (around Rs 745 crore) for acquiring a minority stake in grocery delivery platform Grofers. "It (grocery) is a large opportunity. The online grocery is nascent right now but is growing rapidly not just in India but across the world... "We are actively experimenting in that space and recently invested $100 million for a minority stake in Grofers, with the idea of getting more exposure to that space and building our strategies and plan around that business," Zomato CFO Akshant Goyal said.
Star Health and Allied Insurance's Rs 7,250-crore initial public offering (IPO), the third largest this year and eighth largest ever, just about managed to make it despite a poor response from investors, garnering just 79 per cent subscription, forcing the investment bankers to prune offer for sale (OFS) component. This is the second large offering after digital payments major Paytm this year to receive a lukewarm response from investors, a sign that despite the IPO frenzy investors are discerning when it comes to pricing. As Star Health didn't meet the profitability criteria, its IPO required a mandatory 75 per cent subscription from qualified institutional buyers (QIB).
The auction will help operators augment expansion of high-speed 4G voice and data services in the world's second largest mobile phone market.
In return, BSNL should be allotted 1.2 MHz in the 1800-MHz band in each circle, subject to some conditions.
India is one of the fastest-growing countries in the plastic money segment, with close to 350 million debit cards and 19 million credit cards in circulation.
Extended rounds of negotiations having failed, farm leaders now reckon that their best chance to pressure the government lay in defeating the BJP in the coming assembly poll, particularly in UP, observes Virendra Kapoor.
Titan is investing heavily on research and development, which will do things beyond a smart watch can do today such as switching off lights, locking, and unlocking doors and making payments. Titan is also working closely with start-ups, too, to develop such futuristic features.
Falls way short of the Rs 40,000-cr target for the year Bharti makes upfront payment Vodafone, Telewings go for deferred scheme
But Trump is about to announce his candidacy for president in 2024. And it is not clear if Florida Governor Ron DeSantis, the present hero of disenchanted Republicans, or Biden, who says he might seek re-election (but will decide in 2023), can checkmate Trump, notes Shreekant Sambrani.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
Global credit rating agency Fitch upgraded outlook for the Indian telecom sector from 'negative' to 'stable'.
The third round of spectrum auction continued to witness aggressive bidding even after completion of seventeen rounds on Wednesday with demands for both bands of airwaves on offer continuing to pour in.
The government is also considering mandating payments beyond a prescribed threshold only in card/digital mode.
Airlines are slashing salaries and re-negotiating vendor contracts as drastic fall in passengers has hurt revenue. Go First has cut staff salaries by around 16 per cent while IndiGo and SpiceJet are enforcing a leave without pay (LWP) policy and pay by the hour structure respectively to prune expenses. Vistara, which reversed pay cuts for junior staff including managers and cabin crew in March, is not touching employee salaries at the moment and instead focusing on vendor renegotiation and maximising cargo revenue. An Air India executive said efforts are on to pay salaries by 7th or 8th of June.
'A score of 750 and above is considered to be good, though these cut-offs can vary depending on the type of loan being sanctioned,' points out Arun Ramamurthy.
The protesting Indian women's hockey players finally received their financial dues from the Sport Ministry in Bhopal on Friday.
The sharing agreement will provide more bandwidth for RJIL to provide its high-speed 4G services.
E-wedding planners allow you to book everything online, including venues, make-up artists, bands, florists.
The Reserve Bank of India (RBI) on Friday kept the key repo rate unchanged at 4 per cent in view of rising inflation and faint signs of economic growth amid the gradual lifting of coronavirus related countrywide lockdown.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
Telecom companies put in bids worth a total of about Rs 45,000 crore (Rs 450 billion) on the second day of the auction on Tuesday, with premium 900 Mhz band in Delhi, Mumbai and Kolkata witnessing continuing demand.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
