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Freshworks IPO Makes Over 500 Employees Crorepatis, 70 of Them Under the Age of 30 yrs

Freshworks IPO Makes Over 500 Employees Crorepatis, 70 of Them Under the Age of 30 yrs

During the Covid-19 epidemic, which has seen SaaS IPOs in the US perform brilliantly the recent one being Freshworks IPO, producing billionaires overnight, the Nasdaq listing comes amid rising digitisation and growing acceptance of remote work. When asked by a reporter,  Freshworks founder and CEO Girish Mathrubootham a few months back if he, too, would [...]

Oyo IPO Size Set to be $1.2 Billion, Company Plans to File DRHP Next Week

Oyo IPO Size Set to be $1.2 Billion, Company Plans to File DRHP Next Week

Oyo, a hospitality company, is planning to raise up to USD 1.2 billion (about Rs 8,000 crore) through an IPO and is anticipated to file the draft red herring prospectus with the Securities and Exchange Board of India (SEBI) next week, according to sources.  According to them, Oyo has hired investment banks such as JPMorgan, [...]

China’s Evergrande to make Bond Coupon Payments & End Market Panic

China’s Evergrande to make Bond Coupon Payments & End Market Panic

China's Evergrande shares listed in Hong Kong plunged as much as 7% on Tuesday, after falling 10% the day before, on fears that the company's $305 billion in debt would cause massive losses in China's financial system if it collapsed. The Hong Kong stock exchange was closed for a holiday on Wednesday. According to Refinitiv [...]

Adani Enterprises To Invest $20 Billion in Renewable Energy

Adani Enterprises To Invest $20 Billion in Renewable Energy

Synopsis: Over the next ten years, Adani Enterprises to invest $20 billion (Rs 1.48 trillion) in the renewable energy supply chain, which includes electricity generation, manufacturing, transmission, and distribution. Adani Enterprises to invest $20 billion announcement comes after Reliance Industries Ltd (RIL) announced in June that it will invest Rs 75,000 crores in clean power over [...]

Evergrande Is China’s ‘Lehman Moment’ says Uday Kotak

Evergrande Is China’s ‘Lehman Moment’ says Uday Kotak

Uday Kotak Says “Evergrande seems like China’s Lehman moment. Reminds us of IL&FS,” after China's Evergrande Group's survival hangs in the balance. Investors are concerned, as the issue has been compared to the global financial crisis of 2008. They are concerned that the crisis may repeat the failure of Lehman Brothers in 2008. The brewing [...]

The Evergrande Crisis in China Affecting Markets Worldwide Explained!

The Evergrande Crisis in China Affecting Markets Worldwide Explained!

The Evergrande Crisis in China has sparked a sell-off in global stock markets, with the Dow, S&P, and Nasdaq all correcting by nearly or over 2% on Monday and Tuesday, while Asian markets were mixed on Tuesday as the liquidity crisis continued to weigh on investor sentiment. The Hang Seng in Hong Kong hit a [...]

Adani Power News: Supreme Court to Reconsider its 2019 Judgment in Adani power Case

Adani Power News: Supreme Court to Reconsider its 2019 Judgment in Adani power Case

Synopsis: Latest news on Adani power is that after noting that GUVNL's curative appeal raises major legal problems, a five-judge bench led by Chief Justice of India NV Ramana issued notices on the petition. The Latest Adani Power news is that the Supreme Court has decided to review its decision from 2019, in which Adani [...]

Will Moratorium on Spectrum & AGR Dues Help Vi Escape Bankruptcy?

Will Moratorium on Spectrum & AGR Dues Help Vi Escape Bankruptcy?

Synopsis: Despite the four-year delay in statutory payouts, the telecom JV between Vodafone Plc and India's Aditya Birla Group's financial challenges are far from over, as the accrued interest over the four-year moratorium period on Spectrum & AGR dues would add to the telco's massive Rs 1.9-lakh crore debt.  According to analysts, the four-year suspension [...]

Ola Electric Scooter Sales Cross Rs.600 Crores in a Single Day!

Ola Electric Scooter Sales Cross Rs.600 Crores in a Single Day!

After Ola Electric Scooter Sales Cross Rs.600 Crores the company said in a statement: "We sold 4 scooters every second! In fact, in just 24 hours, we sold scooters worth over 600 crores! That's more, in value terms than what the entire 2W industry sells in a day! Make no mistake, the age of EVs [...]

Air India Privatisation: Tata & SpiceJet Submit Their Final Bid

Air India Privatisation: Tata & SpiceJet Submit Their Final Bid

Synopsis: On Wednesday, Tata Sons and SpiceJet bid for Air India which is on sale as a part of India's Air India privatisation plan September delivered the excellent news that everyone had been waiting for: financial bids for Air India have been submitted. When Air India privatisation attempt was made in 2017, the airline drew [...]

Govt Considers Picking up Token Stake in Vodafone Idea

Govt Considers Picking up Token Stake in Vodafone Idea

According to a source familiar with the situation, the government is considering buying a token stake in Vodafone Idea by converting a portion of the company's debts as part of the Centre's efforts to reassure investors about the telco's future. According to the individual, the government may preserve the option of turning more of those [...]

Zomato Co-Founder Gaurav Gupta Resigns Two Months After Company’s IPO

Zomato Co-Founder Gaurav Gupta Resigns Two Months After Company’s IPO

Zomato Co-Founder Gaurav Gupta's last day at Zomato, according to sources, is today. He will now be expected to prepare his next professional venture, which may or may not be his own, as well as spend time with his family. Gaurav Gupta, Zomato co-founder and a top executive in the run-up to the company's historic [...]

SREI Group Debt of Rs 35,000 Crore ($4.7 bn) Could be Classed as NPA

SREI Group Debt of Rs 35,000 Crore ($4.7 bn) Could be Classed as NPA

Synopsis: The NCLT earlier granted SREI Group relief in December 2020, but after overturning its decision banks are to classify the loans as NPAs by the end of this quarter. In recent years, SREI has been troubled by a slew of issues. Two rating agencies recently downgraded it to junk status.  After the National Company [...]

Paytm has promoted Ajay Shekhar Sharma as Cheif Business Officer Ahead of IPO

Paytm has promoted Ajay Shekhar Sharma as Cheif Business Officer Ahead of IPO

Paytm has promoted senior vice presidents to chief business officers (CBOs) in the run-up to its initial public offering (IPO). Paytm Promotes Ajay Shekhar Sharma and Senior VP’s Ripunjai Gaur, and Abhay Sharma. While the company has not commented on the situation, Sharma has been the chief business officer of Paytm since August, according to [...]

Anil Ambani’s Reliance Infra Wins Rs.4,600 Crores Arbitration Against Delhi Metro

Anil Ambani’s Reliance Infra Wins Rs.4,600 Crores Arbitration Against Delhi Metro

Synopsis: Reliance Infra wins Rs. 4,600 crore arbitration award against Delhi Metro. The Supreme Court upheld an arbitral verdict in favour of the debt-ridden Reliance Group, led by Anil Ambani, in a major victory for the beleaguered company. Reliance Infra wins a four-year legal battle against Delhi Metro worth Rs. 4,600 crores that it claims [...]