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Zomato IPO subscribed 38 times💥
Xiaomi overtakes Apple, Paytm files for Rs16,600 Cr IPO.
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Xiaomi overtakes Apple as world’s No 2 phone maker 📱
According to a new report, Xiaomi has surpassed Apple as the world's second-largest smartphone manufacturer, after Samsung. Global smartphone shipments climbed by 12% in the second quarter of 2021, with Samsung shipping the most at 19%, Xiaomi coming second at 17%, and Apple third at 14%.
Xiaomi's shipments climbed by 83 percent in the last quarter, with Latin America, Africa, and Western Europe seeing the most growth. In the United States, its phones are not widely available. While Huawei, another Chinese firm, was No. 1 this time last year, it is no longer in the top five, following the US Federal Communications Commission's designation of it as a national security concern in June 2020.
Zomato IPO subscribed 38 times on Day 3💥
Internet-based consumer companies have become more popular as the pandemic fueled the adoption of digital technologies. On the third day of bidding for Zomato IPO on Friday, investors continued to apply frantically. Against the IPO size of 71.92 crore equity shares, it received bids for 27,51,25,18,020 equity shares.
The retail investor portion has been subscribed 7.45 times, while non-institutional investors have put in bids 32.96 times against their reserved portion. 'One step for Zomato, a giant leap for Indian startups' Zomato’s IPO will pave the way for other Indian startups to go for IPOs. Other startups like Paytm and Mobikwik are in the queue.
Hot Shorts ⚡
Hospitality unicorn OYO Hotels and Homes Ltd. on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. According to the terms of the deal, Oyo has to pay back the principal loan amount after six years while paying interest at regular intervals.
One of the world's largest transportation company FedEx Express has today announced an investment of $100 million in Delhivery, a leading logistics and supply chain services company in India. FedEx Express India and Delhivery also entered into commercial agreements that will utilize their combined strengths to unlock India’s international trade potential.
Paytm files for $2.2 Bn IPO📊
Indian digital payments start-up Paytm is planning to raise Rs16,600 Cr ($2.22 billion) in an initial public offering, according to draft papers submitted to the country’s market regulator on Friday. Paytm started in 2009 as a platform that allowed Indians to pay their bills and top-up their mobile plans.
Paytm will issue new shares worth Rs8300 Cr and an offer for sale worth another Rs8300 Cr by existing shareholders. Paytm’s IPO plans come at a time when local stock exchanges are showing a growing appetite for consumer tech stocks. The company is looking at a 40-50 percent higher value than its last valuation of $16 billion.
🏦Billionaire investor Rakesh Jhunjhunwala believes he can make more money investing in shares of metal producers and banks than on new-age technology companies that are swarming the Indian primary market currently.
⚠Google has launched its newest privacy feature that allows users to quickly delete their last 15 minutes of saved search history. The new function is now available for iOS users in the Google app, and it will be available for Android users later this year.
“You make your choices, and then your choices make you.”
That’s it for the week folks. You can take a quick look at all the major things that went down this week here. ⏬
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