PM to launch e-RUPI today▶
PM to launch e-RUPI today▶
4 IPO's this week; Adani incorporates new petrochemicals subsidiary.
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e-RUPI doesn’t require a payments app💸
Prime Minister Narendra Modi on Monday will launch a new cashless payment solution, which will operate based on e-vouchers.
e-RUPI is a cashless and contactless digital payments medium, which will be delivered to mobile phones of beneficiaries in form of an SMS string or a QR code.
e-RUPI is not a platform. It is a voucher meant for specific services. e-RUPI vouchers are purpose-specific, and they can be used even if you don't have a bank account, a digital payment app, or a smartphone.
4 IPO's are expected to raise Rs3600 Cr this week📊
A busy week awaits ahead for the initial public offering (IPO) market with four companies lined up to launch their issue.
The initial public offer of Windlas Biotech, Devyani International, Krsnaa Diagnostics, and Exxaro Tiles will open on August 4, Wednesday. All issues will close on Friday, August 6.
These companies and their shareholders plan to raise a total of Rs 3,614 Cr.
In the first four months of the current fiscal, 12 companies raised an astounding Rs 27,000 Cr through the IPO route. Even beyond this week, the pipeline is pretty strong for other IPO issues during the month.
Hot Shorts ⚡
OfBusiness has raised $160 million in new capital, valuing the company at $1.5 Bn. Apart from the B2B raw material supply chain, the business also offers services sectors such as food processing, engineering, heavy machinery, and capital goods.
Gopuff, a delivery firm based in the US, announced a $1 Bn investment round, valuing the company at roughly $15 Bn. Gopuff plans to use the new capital to develop further into North America, the United Kingdom, and Europe.
Adani has incorporated Adani Petrochemicals Ltd(APL)🛢
Adani Enterprises has established Adani Petrochemicals Ltd (APL) as a wholly-owned subsidiary to carry on the business of setting up refineries, petrochemical complexes, and specialty chemical units, which is dominated by Reliance Industries.
India's two richest men are competing to be at the forefront of PM Modi's aim to ramp up green energy capacity in the world's second-most populated country to 450 gigawatts (GW) by 2030.
Tweet of the day🐥
✅ Telegram increases its group video call viewer capacity to 1000 with 30 participants.📱
✅ Tokyo Olympics 2020: Sindhu became the first Indian woman to win two Olympic medals on Sunday. In the bronze medal match, she defeated China's He Bing Jiao.🥉
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-P.V. Sindhu
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