Adani Enterprises
Ashneer Grover initiates discussion with investors to sell his 9.5 percent stake in BharatPe: Reports
Ashneer Grover, co-founder and managing director of the fintech startup BharatPe, has held talks with the investors to fully exit the company. Ashneer’s ostensible exit comes on the back of controversies surrounding financial irregularities as well as a leaked audio clip in which Grover is allegedly abusing a Kotak Mahindra Bank employee. Ashneer Grover is currently on a temporary leave following the audio leak.
Gautam Adani surpasses Mukesh Ambani to become Asia’s richest person
Indian billionaire Gautam Adani of the Adani Group on Monday overtook Mukesh Ambani as Asia’s richest man with a net worth of USD88.5 billion, as per the Bloomberg Billionaires Index. Gautam Adani, 59, added around USD12 billion to his net worth this year thereby overtaking Mukesh Ambani, whose net worth currently stands at USD87.9 billion.
Newsmen Explainer | What is a Digital Currency and how will it revolutionise India’s FinTech sector?
Finance Minister Nirmala Sitharaman announced in the Budget 2022-23 that the Reserve Bank of India will issue Central Bank Digital Currency (CBDC) by in FY23. She said that this move “will give a big boost to digital economy (and this) currency will also lead to a more efficient and cheaper currency management system.” Hence, it is important to know what is this CBDC, why is this being hailed as a move towards fintech revolution and how is this different from private currencies such as cryptocurrencies. Here’s an explainer.
With $5.94 bn, India led Asia-Pacific in fintech investments in 2021
The country also attracted the most funding in 2020, with $1.50 billion raised across 118 deals. According to the 'APAC Fintech Funding Report' published by S&P Global Market Intelligence, venture capital investments in Asia-Pacific-based fintechs surged to a record high of $15.69 billion in 2021, more than double the prior year's figure of $5.87 billion.
Adani Wilmar's IPO issue subscribed over 17 times on final day
The company is known for its wide range of offerings comprising soya bean oil, sunflower oil, mustard oil, rice bran oil, wheat flour, rice, pulses, sugar among others. The company has 22 plants in India, which are strategically located across 10 states, comprising 10 crushing units and 19 refineries. The issue size was Rs 3,600 crore with a price band of Rs 218-230 per share.
Adani's Mundra Port handles the largest ever container vessel to call on India
APL Raffles is one of the largest vessels in the fleet of CMA CGM. Built in 2013, this 1,76,727 DWT, 17292 TEUs capacity vessel is 397.88 metre long and 51 meter wide. This is almost equivalent to four football fields. This is another important milestone for Mundra Port. In 2021, Mundra Port became the largest container port in India, and now the port has berthed, at one of its terminals, the largest container vessel to call India.
Paytm shares rebound after all-time low, settles up 8%
Notably, the shares hit an all-time low of Rs 1,000 recently. On Friday, the shares settled 8.2 per cent up at Rs 1,116 per share. Brokerage house Macquarie in its latest report lowered its target price for the share to Rs 900 from Rs 1,200 and retained its 'underperform' rating.
Paytm's IPO braved stock market when global fintech was drowning
Overall, Paytm IPO is the 4th largest fintech stock debut. "Paytm, which opened at an offer price of Rs 2,150 braved the markets on a tough day and its share price was also impacted. But Paytm came out stronger than how most other fintech companies fared during the same time," said Dr Ravi Singh, Research Head, Share India.
Fintech platform Refyne raises $82 mn to simplify personal finance
The platform enables employees to withdraw their earned salary in real time before the payment is due, thus reducing debt traps by providing instant access to earned salary. The Earned Wage Access (EWA) solution provider said the since its inception (December 2020), it has raised a total of $106 million.
Fintech platform Refyne raises $82 mn to simplify personal finance
The platform enables employees to withdraw their earned salary in real time before the payment is due, thus reducing debt traps by providing instant access to earned salary.
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