Money managers view months of crackdowns that have hammered shares in sectors from tutoring to big tech as part of a major push from China's Communist Party leadership to pursue common prosperity at the expense of private-sector profit
The Ritesh Agarwal-helmed company is in talks with bankers such as JP Morgan, Citi and Kotak Mahindra Capital to manage the public issue
As per Sebi norms, EGM also decided on declassifying Vijay Shekhar Sharma as company promoter. He'll still hold positions of chairman, CEO and managing director
Ash Lilani, Saama Capital managing partner, also joins Paytm board as independent director; Alibaba's Michael Yuen Jen Yao and Berkshire Hathaway investment manager Tood Anthony Combs retire from board
Paytm has been raising revenue and monetising its services over past year. Fintech giant is also looking to file its draft red herring prospectus this month
Paytm has roped in some of the most influential investment bankers for its proposed IPO. JP Morgan, Morgan Stanley, Goldman Sachs and ICICI Securities are likely to lead issue, touted to be largest IPO in financial sector
Microsoft Corp on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson; One97 Communications, the parent company of Paytm has roped in some of the most influential investment bankers for its proposed initial public offering (IPO); Prime Minister Narendra Modi, during the 5th edition of VivaTech summit, said on Wednesday that COVID-19 has put many conventional methods to test and that innovation is the only way out when convention fails. Watch this and more on News Blast.
COVID-19: Is there a 'Moscow strain'? Sputnik V vaccine maker believes so
There may be a new mutant of coronavirus in Russia's capital Moscow, so-called "Moscow strain", which may be behind the recent spike in cases in the city. The Gamaleya National Center of Epidemiology and Microbiology, which developed COVID-19 vaccine Sputnik V, is studying the effectiveness of the jab against the new strain, as per Russian state-owned news agency RIA Novosti.
Microsoft CEO Satya Nadella named as chairman
Microsoft Corp on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson. Nadella, who took over as CEO in 2014 from Steve Ballmer, has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax. The top-level executive change comes just over a year after Gates stepped down from the board, saying he would focus on philanthropic works.
Paytm IPO: JP Morgan, Morgan Stanley, Goldman Sachs likely onboard
One97 Communications, the parent company of Paytm has roped in some of the most influential investment bankers for its proposed initial public offering (IPO). JP Morgan, Morgan Stanley, Goldman Sachs and ICICI Securities are likely to lead the issue, touted to be the largest IPO in the financial sector.
Economy still wrestling with Covid; vaccination speed, scale to shape recovery path: RBI report
The Reserve Bank of India (RBI), in its latest report, said the Indian economy continues to wrestle with the second wave of the pandemic, though cautious optimism is returning. By current assessment, the second Covid wave's toll is mainly in terms of the hit to domestic demand. The central bank has said going forward, the speed and scale of vaccination will shape the path of recovery.
Pass on Covid drugs, medical oxygen GST cut benefit to consumers: NPPA to drug makers
The National Pharmaceutical Pricing Authority (NPPA) has asked drug makers and medical device makers to reduce the prices of products on which the goods and services tax (GST) rate has been slashed to pass on the benefit to consumers. The drug pricing regulator said change in tax and GST rates has an impact on the fixation of maximum retail price (MRP) of items which attract these taxes.
'India offers what innovators need': PM Modi invites world to invest in India
Prime Minister Narendra Modi, during the 5th edition of VivaTech summit, said on Wednesday that COVID-19 has put many conventional methods to test and that innovation is the only way out when convention fails. The PM invited the world to invest in India based on the five pillars of -- "talent, market, capital, eco-system, and culture of openness".
Earlier this month, Paytm's board had given an in-principle approval to raise around Rs 22,000 crore through its IPO
JP Morgan believes risk-reward is attractive and the stock is positioned similarly to metals last year
Filippo Gori, the chief executive of JP Morgan Asia Pacific, said the bank has set aside $3.8 million for the care of its over 35,000 India employees
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today