Technology
Paytm Said to Raise IPO Size to Rs. 18,300 Crore Ahead of India’s Largest Stock Market Listing
Indian digital payment leader Paytm has expanded its initial public offering to rupee. Rs 18,300 crore, Rs 16,600 million, because existing shareholders want to sell more shares before listing on the country’s largest stock market. Paytm’s target may be the rupee price range. 2,080-rupees A source with direct knowledge of the matter told Reuters that the IPO is worth 2,150 US dollars per share, and the valuation may be about 20 billion US dollars (approximately 149,710 crore).
The source said that due to increased investor demand, the company has expanded the size of its initial public offering. The source declined to be named because the information has not been made public. Paytm did not immediately respond to Reuters’ request for comment. Several companies, including Paytm, have jumped into India’s capital market as investors ride the liquidity wave to push the domestic market to record highs.
Food delivery company Zomato also listed China Ant Group as a shareholder, and its share price has risen 77% since its listing in July. The issuance of Paytm will begin on November 8, when top investor Ant Financial will sell shares worth Rs. 47,040 crore, close to half of the sales portion. Ant Financial currently holds 183.3 million shares of Paytm, or 27.9% of the shares.
Although Paytm did not increase the size of its new offering, it was still Rs. Rs 8,300 crore, it will expand the quotation of the sales part to Rs. 8,300 trillion US dollars before 10,000 crore rupees. This IPO may be the largest in the history of an Indian company, breaking the record held by Coal India, which raised 15,000 crore more than a decade ago.
News Source : Gadgets 360
Technology
Surfaces of the Motorola Edge 50 Ultra with Snapdragon 8S Gen 3
Early this week, renders of the Edge 50 Fusion appeared, and Motorola has previously stated that the Edge 50 Pro will ship on April 3. The highest-end smartphone in the Edge 50 series, the Edge 50 Ultra, has now been shown in renders.
The phone is depicted in the renderings in peach fuzz and black with a vegan leather finish, while sisal, a beige color, will have a brushed surface. As opposed to the Snapdragon 7 Gen 3 in the Pro variant and the Snapdragon 6 Gen 1 in the Edge 50 Fusion, the phone is reportedly powered by the Snapdragon 8s Gen 3 SoC.
A 50MP primary camera, an ultra-wide camera, and a periscope telephoto camera with a 5x optical zoom are all included in the Motorola Edge 50 Ultra’s feature set. Additionally, there is a triple LED flash on the right side and a laser autofocus feature above the periscope lens.
Although the phone’s display, battery, and charging specifications are yet unknown, the Edge 50 Pro is said to include 12GB of RAM and support both 50W and 125W wired and wireless charging.
It is anticipated that this will launch as the Motorola X50 Ultra in China. It is unclear if the India launch may be expected on the same day as the rest of the Edge 50 series phones, even if this is scheduled to go official on April 3.
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