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The issue was subscribed about 81 per cent on the opening day of bidding on Monday. The price range for the initial public offering (IPO) has been fixed at Rs 315-320 per share. from Markets https://ift.tt/2o7bGXG
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Showing posts from September, 2019
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The initial public offering of Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed about 81 per cent on the opening day of bidding on Monday. IRCTC's public offer to raise about Rs 645 crore received bids for 1.63 crore shares as against the total issue size of two crore shares, according to exchanges' data. The non-institutional investors category was subscribed 21 per cent and that of retail individual investors 2.23 times. Price range for the initial public offering (IPO) has been fixed at Rs 315-320 per share. The issue comprises an offer-for-sale of 2.01 crore shares of face value of Rs 10 each. Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees. Bidding for the offer of the railways' tourism and catering arm will close on Thursday. Equity markets will be closed on Wednesday on account of 'Mahatma Gandhi Jayanti'. YES Securities (India), SBI Capital Markets and IDBI Capital Markets & Securities are the...
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As privately issued stablecoins continue to encroach on more traditional forms of money -- like cash and bank deposits -- policymakers will not simply look on from the sidelines.They will arbitrate, says the International Monetary Fund (IMF)."Their rules and actions will determine how we will eventually pay for everyday items like a cup of coffee and, more importantly, will affect the structure and risks of our financial sector," said Tobias Adrian, Financial Counsellor and Director of the IMF's Monetary and Capital Markets Department, and his colleague Tommaso Mancini-Griffoli who is the Deputy Division Chief.Stablecoins are cryptographic tokens that can be easily exchanged, benefitting from minimal price volatility relative to cash. Consumers might quickly adopt these new, cheaper, faster and more user-friendly services integrated into their social media platforms.However, these also come with notable risks that require prompt regulatory action. One possible regulatory ...
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CRISIL Research on Sunday said top 1,000 listed companies could see tax savings of Rs 37,000 crore on account of the corporate tax cut. "Over the past few days, a slew of measures have been introduced to address the slowdown in the Indian economy. Friday's announcement, however, is the most material...Our analysis indicates these 1,000 companies could see tax savings of Rs 37,000 crore, or nearly a fourth of the total savings anticipated by the government," it said in a statement. The drop in tax rate would now bring India at par with most Asian economies, it added. "CRISIL Research's analysis of nearly 1,000 companies -- spread across 80+ sectors such that they cover more than 70 per cent of NSE's market capitalisation -- indicates that effective tax rates had risen over the past 5 years," it said. These companies, including oil & gas and financial services, account for nearly a third of the tax paid by India Inc. "These estimates are based on ...
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/ -- Analysis of the Steering Committee Report The Steering Committee Report by the Ministry of Finance was released on 2nd Sept 2019, and to one's surprise interprets Cryptocurrencies and Blockchain Technology in much better light than its predecessor draft bill, released to the public domain on 22nd July 2019, which aimed at cryptocurrency ban. Upon going through the reports, the conclusions were contradictory and unplanned as described below. The top executives from the Ministry of Electronics & Information Technology (MEITY) and officers from RBI, were the panel members for both, draft bill and steering committee report. It may be noted that the report was made mainly by the students of the National Institute of Public Finance and Policy (NIPFP). The few points which CREBACO observed on the steering committee report are mentioned below: Initially, the report talks about a broader fintech landscape, which mentions technologies such as mobile payments, investment advisory, .....
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PayPal is cautious about the future of Facebook-backed cryptocurrency Libra, which is slated to debut with the pioneering digital payments firm as part of its oversight association. International outcry is mounting over Libra -- with central banks, governments and regulators railing against Facebook's upstart cryptocurrency and questions over how it would be regulated. The social media giant unveiled plans in June for Libra -- which will roll out in 2020 -- to be backed by a basket of currency assets to avoid the wild swings of Bitcoin and other virtual units. "It's a non-binding commitment," PayPal investor relations vice president Gabrielle Rabinovitch said Thursday of the California-based company signing on to the Libra Association. "And obviously, I think there's a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea." The nonprofit Libra Association, based in Geneva, will oversee the blockc...
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:The state-run Kerala Blockchain Academy (KBA) has launched Kerala Blockchain Academy Innovation Club (KBAIC)- 'Decentralised' India Chapter, seeking to provide global exposure to student members from across campuses joining the initiative. A state government initiative under the Indian Institute of Information Technology and Management Kerala (IIITM-K), KBA has partnered with the University of Nicosia (UNIC) and Block.co, a blockchain-based startup from Cyprus, to launch KBAIC. 'Decentralised' is a global blockchain student network supported by UNIC, spanning multiple countries around the world. The collaboration will help student members of KBAIC to get global exposure by seizing opportunities to work closely with the members of the Decentralised, an official statement said here. Inaugurating KBAIC at a function at IT hub Technopark here on Saturday,Dr. Chandrasekaran Pandurangan, Professor, IIT Madras, said blockchain has triggered great enthusiasm in technology ... ...
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Apple has just entered the finance market with its Apple Card and that may just be the beginning of it.At a recent private CNN event, Apple Pay's Jennifer Bailey said that the company is looking at the cryptocurrency technology which has 'interesting long-term potential', CNBC reports. If the company does work on cryptocurrency projects, it may potentially involve QR code-based systems as alternatives to credit cards.This is the first time the company has publicly expressed its interest in the technology. However, Bailey stressed that Apple is currently focused on what consumers are using today. from Markets https://ift.tt/2ZNnM5m