Technology
Paytm IPO Subscribed 48 Percent as Firm Heads Into Last Issue Day, Garners Bids for 23.5 Million Shares So Far
Indian fintech company Paytm’s initial public offering (IPO) is as high as Rs. Data from the stock exchange on Tuesday showed that on the second day of the issuance period, the subscription rate for 183 billion shares was 48%, and 23.5 million shares were tendered. A source told Reuters that earlier in the day, the Canadian Pension Plan Investment Board ordered about 6 million major shares. At the high end of the price range, this translates to approximately Rs. 1,280 million.
Paytm has sold 48.3 million shares in India’s largest stock market, which is expected to be listed, an increase of more than mining company Coal India’s rupee. More than a decade ago, the initial public offering was 15,000 trillion US dollars. Paytm, backed by Ant Group, said last week that it allocated shares worth Rs. Provided 8,235 crore to more than 100 institutional investors, including the Singapore government, BlackRock Global Fund, Canadian Pension Plan Investment Commission and Abu Dhabi Investment Authority.
Paytm was launched as a mobile top-up platform ten years ago. After the ride-hailing company Uber listed it as a fast payment option, Paytm has developed rapidly. When India banned the use of high-value banknotes in 2016, its use surged, driving digital payments. The issuance of Paytm was opened to retail investors on November 8, the day when Indian Prime Minister Narendra Modi announced a currency ban or monetization five years ago. Founder and CEO Vijay Shehar Sharma then welcomed Modi’s move, calling it “the biggest and boldest move.” And the most ambitious surgical strike of any government in the world.” A year ago, Sharma, the son of a teacher from a small city in Uttar Pradesh, India’s most populous state, won the support of Chinese billionaire Jack Ma’s Ant Financial for Paytm.
Over the years, Sharma, who often praised Jack Ma and took photos with him, continued to win other big investors for his company, including SoftBank and Berkshire Hathaway. These equity sales helped him obtain a net worth of US$2.4 billion (approximately Rs 17,806 crore, according to Forbes).
On Monday, when Paytm opened its bid, Sharma visited an ancient Hindu shrine in southern India and posted a photo on Twitter. “I am here to seek God’s blessing for all Paytm families,” Sharma said. Paytm hopes to raise approximately US$2.2 billion (approximately Rs 16,322 crore) through an IPO at a valuation of US$20 billion (approximately Rs 148,396 crore). The bidding will end on Wednesday, and Paytm will be listed on the Indian Stock Exchange on November 18.
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.
Group Media Publications
Entertainment News Platforms – anyflix.in
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/
Podcast Platforms – https://anyfm.in
-
Bollywood2 months ago
Aishwarya Rai maintains her stunning appearance in a new L’Oreal ad.
-
health and remedies2 months ago
The article discusses the potential health risks associated with swallowing dry ice
-
Music1 month ago
Sidhu Moosewala’s father and baby brother feature on Times Square billboard; fans react. Watch
-
Bollywood3 weeks ago
Rasha, the daughter of Raveena Tandon, discusses how trolling affects her: “I think in processing it, feeling bad for a bit.”
-
Entertainment2 months ago
The Anant Ambani-Radhika Merchant pre-wedding bash in Jamnagar has received a list of guests.
-
Trending2 months ago
Dolly Chaiwala: “Didn’t Know Who He Was” in reference to giving Bill Gates tea
-
Bollywood4 weeks ago
The phrase “female-led projects” annoys Bhumi Pednekar. “It disgusts me deeply.”
-
Trending2 months ago
Oppo Reno 12 Pro Key Features Leak Online: Expected to Receive a 1.5K Display with a Density 9200+ SoC