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
.jpg "SpiceJet announces 8 new flights to connect Jaipur with Varanasi, Amritsar and Ahmedabad")
SpiceJet expands its domestic network with 8 new flights that will connect Jaipur with Varanasi, Amritsar and Ahmedabad and also link Ahmedabad with Pune.
SpiceJet is further expanding its domestic network with the launch of eight new flights starting November 15.
In the statement released on Wednesday, the airline announced that these new routes will connect Jaipur with Varanasi, Amritsar and Ahmedabad, while also linking Ahmedabad with Pune. This expansion follows the recent launch of 32 new flights in October 2024, including two international flights connecting Delhi with Phuket.
Last month, SpiceJet also commenced UDAN flights linking Shivamogga in Karnataka with Chennai and Hyderabad, and introduced double daily flights between Chennai and Kochi, enhancing connectivity across key regional and metropolitan cities.
“We are excited to announce the launch of new flights from Jaipur to Varanasi, Amritsar, and Ahmedabad, as well as from Ahmedabad to Pune, providing our passengers with greater flexibility and convenience,” SpiceJet Chief Business Officer Debojo Maharshi said.
“These new flights reflect our commitment to supporting passenger demand across tier-II cities and beyond. With our expanded winter schedule, including international and UDAN routes, we aim to provide our customers with greater convenience, affordability, and seamless travel experiences,” Maharshi added.
SpiceJet will deploy its 78-seater Q400 aircraft in these sectors. Bookings for the new flights are now open and tickets are available at the website of the airline, SpiceJet’s mobile app and through online travel portals and travel agents.
On Monday, the airline received a significant boost, with Acuite Ratings & Research Limited upgrading its long-term rating by four notches to ‘B ‘ and its short-term rating to A4. The rating agency has also assigned a ‘Stable’ outlook to the airline.
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