IPO frenzy to continue in Oct-Nov🔥
Jio adds 6.1 mn users in July, China bans cryptocurrency and more.
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30 firms may float public issues in Oct-Nov to mop up Rs 45,000 cr👏🏻
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share sales, merchant banking sources said.
Of the total fundraising, a large chunk would be garnered by technology-driven companies.
The firms that are expected to raise funds through their IPOs during October-November include Policybazaar (Rs 6,017 crore), Emcure Pharmaceuticals (Rs 4,500 crore) Nykaa (Rs 4,000 crore), CMS Info Systems (Rs 2,000 crore), MobiKwik Systems (Rs 1,900 crore).
So far, in 2021, as many as 40 companies have floated their IPOs to raise Rs 64,217 crore.
Jio leads active wireless subscriber base, adds 6.1 mn users in July📶
Reliance Jio led active wireless subscriber additions in July at 6.1 million, while Bharti Airtel's active user adds stood at 2.3 million, according to the latest data by TRAI.
Reliance Jio had active subscriber additions of 6.1 million (as against 2.4 million additions in June) reaching about 346 million users in July.
Bharti Airtel saw active subscriber additions of 2.3 million to touch 346 million, although its active users adds were slower than last month (2.4 million additions in June).
VIL's market share loss slowed down a bit; it lost 1.4 million subscribers in July versus 4.3 million each in May and June.
Hot Shorts⚡
Medikabazaar, a health-tech platform, has raised $75 million in a Series C investment led by Creagis and CDC Group.
Chqbook, a neobanking platform, has raised 40 crores in a Pre-Series B investment led by existing investor Aavishkaar Capital and the Rajiv Dadlani Group.
All crypto-related transactions are illegal, says China’s central bank🚫
All cryptocurrency-related transactions are illegal and must be banned, China’s central bank said, sending the strongest signal yet on its determination to crack down on the industry.
The People's Bank of China (PBoC) said it will bar financial institutions, payment companies and internet firms from facilitating cryptocurrency trading, and will strengthen monitoring of risks from such activities.
Now, 10 Chinese government agencies, including the central bank and other banking, securities and foreign exchange regulators, said in a joint statement that they would work closely to maintain a "high-pressure" crackdown on speculative trading of cryptocurrencies.
Tweet of the day🐥
✅ Aditya Birla Sun Life AMC IPO Opens this Week: GMP, Price, Issue, Strength, 10 Points
✅ Invesco reiterates demand to oust Punit Goenka from Zee Entertainment
"What the wise do in the beginning, fools do in the end."
- Warren Buffett
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