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MobiKwik on Friday filed draft papers for its initial public offering (IPO) with the stock markets regulator, proposing to raise Rs 700 crore through a fresh issue of shares. This is the second time One MobiKwik Systems, parent company of the digital payment service provider, has filed its draft papers. MobiKwik had abandoned its initial listing plans in 2021, citing weak market conditions.

Godrej Consumer Products on Friday provided a quarterly update wherein it has said that the reported volume growth in India continues to be double digit for the quarter ended on December 31, 2023. The FMCG giant also stated that the operating environment continues to remain similar to the second quarter.

antitrust chief Margrethe Vestager will meet the chief executives of Apple, Alphabet, Broadcom and Nvidia in the United States next week, her communications advise said on Friday. The meetings come a month after Vestager resumed her job following her failed bid to head the Luxembourg-based European Investment Bank, with antitrust experts expecting her to show a tougher line towards companies in both merger and competition investigations.

Supreme Court on Friday sought responses from the Centre and probe agencies like the CBI and the ED among others on a plea seeking guidelines for search and seizure of digital devices. A bench of justices B R Gavai and Sandeep Mehta issued notice on the petition filed by news portal NewsClick and its founder Prabir Purkayastha.

Karnataka Bank and Satin Creditcare Network have entered a co-lending arrangement to provide financial support to joint liability groups (JLG) of economically active women, in both rural and semi-urban areas, and to give impetus to the micro credit facilities segment of the country. The arrangement will leverage Karnataka Bank’s low cost of funds and end-to-end digital capabilities and Satin through Yubi platform for co-lending to help the sourcing, servicing and recovery of small-ticket income generation priority sector loans, a statement from Karnataka Bank said. Karnataka Bank MD & CEO Srikrishnan H said: “Karnataka Bank is delighted to enter into this strategic co-lending arrangement with Satin through the platform of Yubi, our Fintech partner. This is part of our stated strategy to collaborate and grow our Advances book in alliance with Fintech partners and controlling the in-flow with the Bank’s credit standards.

NEW DELHI : Marico’s consolidated revenue in the December quarter declined in low single digits on a year-on-year basis, although operating profit saw a low double-digit growth, the company said in a quarterly update. The maker of Parachute oil also said it expects a low single-digit jump in domestic volumes for the December quarter, driven by improved demand for its flagship products, mainly in the cities.

Marico, one of India’s leading consumer products companies in the global beauty and wellness space, released its Q3 FY24 (third-quarter) business update today. The company's domestic volumes in Q3FY24 grew in low single digits on a year-on-year basis, with low single-digit volume growth in Parachute Coconut Oil and Saffola Edible Oils, along with low single-digit value growth in Value Added Hair Oils.

Yes Bank official Ritesh Pai as chief executive officer of its international payments business. He will lead the company’s global expansion plans.

Marico in its quarterly update said that while urban markets were steady, rural offered little to cheer, exhibiting similar demand trends on a sequential basis. In a stock exchange filing, the company said that constraints on liquidity and profitability in general trade channel remained an overhang for the sector. Yet, the company remains optimistic of a gradual uptick in consumption trends of the course of 2024 owing to improving macroeconomic indicators, continued government spending and conducive consumer pricing across categories. Parachute oil registered low single digits in volume growth whereas Saffola Oils witnessed optically weak quarter.

Central Government Employees can now open National Pension System (NPS) accounts through eNPS, a digital platform. «It (eNPS) facilitates the effortless opening of NPS accounts for the Government employees, empowering them to do so in a paperless, user-friendly manner,» according to the master circular recently released by the Pension Fund Regulatory and Development Authority (PFRDA). What is eNPS? Who can open NPS accounts through eNPS? eNPS is a digital platform that will allow Government sector employees — the employees of the Central Government, the employees of the State Government employees, the employees of Central Autonomous Bodies (CABs), the employees of the State Autonomous Bodies (SABs) to open NPS account in an easy paperless mode.

capital overseas, raising hope for the nation’s wealthy as they wait for clarifications from regulators to make similar moves. Premji Invest has received an in-principle approval to set up a so-called family investment fund at Gujarat International Finance Tec-City, also known as GIFT City based in Prime Minister Narendra Modi’s home state, according to people familiar with the matter. Dozens of applications for FIFs that allow families to make investments across various asset classes and instruments offshore, are still pending, said the people, asking not to be identified discussing a private matter.

In the dynamic world of cryptocurrencies, Bitcoin stands at a pivotal juncture, trading at $43,631 with a notable increase of 0.96% on Friday. This upswing is partly attributed to Marathon Digital’s record-breaking achievement in December, mining an impressive 1,853 Bitcoins.

Cryptocurrency exchange Coinbase has recently confronted allegations by Senator Elizabeth Warren regarding the employment of former government officials. Warren's claims suggest that these hires may hinder the progress of digital asset regulations. Coinbase, represented by Chief Policy Officer Faryar Shirzad, has fervently denied these allegations.

ALSO READ: India vs South Africa 2nd Test match was shortest in history of Test cricket; breaks several unwanted records Viacom18 even released a humourous promo, where India and Afghanistan are represented by their respective kits in a sports store engaging in friendly banter. With the tagline of ‘dekh lenge’, the campaign plays along the lines of ‘the giant killers vs the giants’.

(This story originally appeared in on Jan 05, 2024)

₹700 crore in an initial public offering (IPO). Mobikwik is also aiming to raise ₹140 crore in a pre-IPO placement, which if successful will reduce the issue size appropriately. SBI Caps and DAM Capital are managing the issue.

High festive demand in October and November drove disbursal of personal loans from banks. Personal loans disbursed by lenders rose 30% year on year to reach Rupees 50.57 trillion as of November 17, according to the Reserve Bank of India (RBI) data. This impressive growth in advances will help lenders post better third-quarter earnings, say experts.

Bitcoin mining company Marathon Digital has set a new production record by mining the highest amount of Bitcoin in a single month. 

Motilal Oswal Financial Services is positive about the stock for the long term as it sees several growth levers at play for the company. The brokerage firm has initiated coverage on IIFL Finance stock with a buy recommendation and target price of ₹800, implying a 26 per cent upside potential.

top seven cities is poised to exceed one gigawatt by 2024, marking a near three-fold increase in just four years, reflecting the voracious appetite for content in a country that leads the world in smartphone data consumption. That trend is likely to intensify as 5G networks expand further across the country that added a record 230 megawatts of new capacity last year. Cushman & Wakefield reported that the total colocation capacity (IT load) in the top seven cities reached 884 MW in 2023, marking a 35% year-on-year increase. «Colocation supply is expected to reach a record high next year, with numerous greenfield facilities set to go live by both domestic and international players.