India’s leading ecommerce platform for used vehicles, Cars24, has raised $450 million in new funding round, nearly doubling its valuation to $1.84 billion. This includes a $340 million Series F equity funding round and a $110 million one from multiple financial institutions. The funding rounds were led by SoftBank Vision Fund 2, Falcon Edge, and …
An Overview Last week, the finance minister said that the government will back securities issued by NARCL to acquire bad loans worth Rs. 2 lakh crore with a total of Rs. 30,600 crore in government guarantees. She said that NARCL will buy these loans that are completely guaranteed by banks, reducing problematic loans on banks’ …
Popular fintech startup Mobikwik has filed its DRHP with the Securities and Exchange Board of India. The company has further mentioned its reservation of 7% equities for employee stock options. ADIA (Abu Dhabi Investment Authority) earlier valued the startup at $700 million. This came after the company raised $20 million in June. The startup says …
An Overview According to a group of experts, India should postpone a plan to decrease stock transaction settlement times since it increases the danger of local brokerages defaulting and reduces the country’s appeal to international investors. The Securities and Exchange Board of India, India’s capital market regulator, has proposed allowing stock exchanges to offer next-day …
Shares of Sansera Engineering got listed on the stock exchanges on 24 September 2021 Friday. Following a successful initial public offering, this company had set the issue price at Rs. 744. Here, we’ll be looking into how this company’s D-Street debut turned out to be. Sansera Engineering Share Listing – Both NSE and BSE Sansera …
The telecom sector will soon witness its second series of reforms, which will focus on creating and empowering mobile phone operators so as to touch the farthest corners of India and expand abroad, according to news reports citing statements by the Cabinet minister for IT and railways. The minister also noted that the pricing of …
An Overview Because of internal reasons such as increased rates on government securities and a higher cut-off established by the central bank at a reverse repo auction amid poor demand from investors, yields on corporate bonds, T-bills, and commercial papers are up 5-15 basis points across tenures. Bond yields in the United States have a …
India is well on its way to becoming one of the leading markets in terms of the fintech landscape, with more than 2100 fintech firms in operation, according to a statement made by the country’s Commerce and Industry Minister at the Global Fintech Fest 2021. What exactly is fintech? Fintech is the intersection of technology …
On Thursday, the Comptroller and Auditor General of India (CAG) announced numbers relating to the fiscal deficit for the period starting from 1st April 2021 up to August 30, 2021. Out of the total fiscal deficit planned for the whole year, April to August total reached only close to 31% as per the reports. In …
An Overview Increased software services revenue and inward contributions from diaspora Indians overseas enabled the current account in the balance of payments to end in a positive for the quarter ended June’21, countering a significant increase in the petroleum import tariff. In addition, the economic slowdown brought on by the 2nd lockdown during the quarter …
