Read more about Grab to unveil world s biggest SPAC merger, valued at nearly $40 bn: report on Business Standard. The deal for Grab, which was valued at just over $16 billion last year, will be a big win for its early backers such as SoftBank Group Corp and China s Didi Chuxing.
Aditya Birla Sun Life AMC, India’s fourth largest asset management company (AMC), is considering launching an initial public offering (IPO), said its parent firm on Wednesday, joining a slew a fund houses that listed recently. “The board of directors of Aditya Birla Capital at its meeting held on March 17, 2021, have provided in principle approval to explore an initial public offering of Aditya Birla Sun Life AMC, a material subsidiary of the company subject to market conditions, receipt of applicable approvals and other considerations,” said Aditya Birla Capital in a stock exchange notification. Aditya Birla Capital holds 51 per cent in the AMC and the remaining 49 per cent is with Sun Life, a Canadian financial services firm.
A city-based entrepreneur, who tasted great success after a game developed by his company became wildly popular and topped a worldwide ranking for a brief period in 2019, is mulling to list his startup venture on the London Stock Exchange. Funcell Games and two other group companies created eight games that help the entity gain popularity in the US and the UK, the firm s promoter and CEO Abhishek Malpani said. The flagship game of the company has been Idle Human which topped the world ranking in the industry for seven consecutive days in August 2019 and is popular in the US, the UK, Australia and Canada. It still witnesses 20,000 downloads every day, he told PTI.
The Securities and Exchange Board of India (SEBI) has approved Paytm Payments Bank Limited s @Paytm unified payments interface (UPI) handle to enable payment mandates for initial public offerings (IPO) application. This will allow users to invest in capital markets through various brokerage platforms using their @Paytm UPI handle. Paytm Payments Bank has entered into a partnership with Paytm Money to enable payment mandates for IPO applications. Paytm Money, Paytm s stocks and mutual fund investment platform, aims to get more than 10 million users and 75 million yearly transactions in the coming financial year. “By enabling @paytm UPI to apply for IPO we are giving millions of investors the ease of seamless, secure, and rapid payments to help enhance their financial portfolio. We believe that every Indian has a right to access capital markets and benefit from the burgeoning list of successful companies which are listing in the stock market,” said Satish Gupta, MD and CEO
Speciality chemicals manufacturer Laxmi Organic Industries initial public offer was subscribed 2.28 times on the first day of subscription on Monday. The initial public offer (IPO) received bids for 7,42,26,635 shares against 3,25,58,138 shares on offer, according to data available with the NSE. The portion meant for qualified institutional buyers (QIBs) was subscribed 1 per cent, non-institutional investors 49 per cent and those for retail individual investors (RIIs) 4.34 times. The initial public offer aggregating up to Rs 600 crore comprises a fresh issue of up to Rs 300 crore and an offer for sale of up to Rs 300 crore. The price range for the Mumbai-based company s offer is Rs 129-130 per share.