Platform Financial News

SME IPO segment, showcasing remarkable growth and investor enthusiasm. Within the first two months of the year (as of 29th February) a total of 30 SME IPOs have collectively raised an impressive sum of Rs. 1024 crore.

Suven Pharmaceuticals on Saturday jumped another 5% to take the two-day gain to 15% on announcing a merger with Cohance Lifesciences, which will make the joint entity a leading integrated CDMO player in India and globally. After the merger becomes effective, all shareholders of Cohance will be issued shares of Suven at the ratio of 11 shares of Suven for every 295 shares of Cohance, based on the swap ratio. The new shares of Suven will be traded on the NSE and BSE.

By Kanishka Singh

By Echo Wang

NEW DELHI : Power distribution companies across the country are scrambling to procure more electricity than they usually do for summers, with hotter-than-normal temperatures expected until May this year coinciding with the national election. On Friday, the India Meteorological Department forecast ‘above normal’ maximum temperatures in most parts of the country until May. Plus, the general elections, expected to be held in April-May, could spike demand further as state governments tend to ensure uninterrupted power supply at that time.

Reddit is aiming for a valuation between $6 billion to $6.5 billion in its upcoming initial public offering (IPO), a decrease from its previous $10 billion valuation in August 2021, the Wall Street Journal reported on Friday.

Kabir Sethi, LPL Financial’s product chief, is leaving the firm, according to a public filing. Sethi’s departure is effective March 31, according to a Form 8-K the firm filed with the SEC on Monday.

Ameriprise Financial Services is the latest major broker-dealer to reveal that it’s expecting a significant penalty from regulators as a result of unapproved electronic communications by financial advisors and employees, disclosing last month that it’s preparing to book up to a $50 million expense to resolve the issue with the Securities and Exchange Commission.

Julie Plec, co-creator of the beloved supernatural teen drama The Vampire Diaries, has hinted at the possibility of expanding the franchise with new stories. Plec, who co-created the series with Kevin Williamson, recently revealed her ongoing creative interest in The Vampire Diaries universe during the premiere of her upcoming show, The Girls on The Bus.

The Nigerian government has imposed a staggering $10 billion fine on Binance as part of a crackdown on the platform in an effort to stabilize the nation’s local currency. 

Trading platform WeBull has agreed to list on the Nasdaq through a merger with special acquisition company SK Growth Opportunities, valuing the combined business at $7.3bn. The firm is expected to IPO in the second half of the year. RIT invested £50m in WeBull in 2021 in a transaction rumoured to have been at a valuation of around $1bn. The second private holding, payment company Stripe, has allowed its employees to cash out about $1bn worth of stock at a $65bn valuation, according to several media reports, a 30% hike from its 2023 valuation.  SJP co-founder and former RIT chair Ja...

AdvicePay, an industry-leading platform for processing payments and managing compliance in fee-for-service financial planning, has announced a collaboration aimed at simplifying the payment process for advisors.

NDVR, a Boston-based wealth management firm with a heavy focus on technology, has just unveiled a novel solution that allows financial advisors to manage and optimize client portfolios.

Scaler Academy has reported a nearly fivefold increase in yearly operational revenue during a period in which it raised no external capital. The company said its operational revenue rose to Rs 316.7 crore in the financial year ended March 2023, from Rs 65.6 crore a year earlier.

Startup funding in the last week of February 2024 fell about 59% in volume terms to 12 deals from the same period a year ago, totalling $171 million. Companies in seed, early and late-stages had raised about $186 million from 29 rounds in the period from February 23 to March 1, 2023, as per data from Tracxn.

₹70,352 crores. Before the merger, the two companies engaged in fierce competition for cricket streaming rights, which made customers the ultimate beneficiary. After clinching the IPL streaming rights, Reliance-backed JioCinema announced free streaming of the domestic league, while Disney streamed the ICC World Cup 2023 free on its mobile application.

Attorneys for X Corp. and a research organization that studies online hate speech have traded arguments in court in a legal battle over the organization's reports on the increase in hate speech on the site since it was purchased by Elon Musk in 2022

Consumer Reports says some doorbell cameras sold by Amazon and other online retailers have security flaws that could allow bad actors to view footage from the devices or control them completely

A new investment platform that allows sports fans to buy and sell shares in the future on-the-field earnings of college and professional athletes has received federal approval to begin trading on the U.S. stock market

National Stock Exchange (NSE) for its proposed fundraising through an initial public offering (IPO). The issue, which will open on March 5 and close on March 7, 2024, will see a fresh issue of up to 3,624,000 equity shares with a face value of ₹10 per share. The equity shares issued as aforementioned will be listed on NSE Emerge, the SME platform of the NSE, with a floor price of ₹136 and a cap price of ₹143.

Marrfa, an innovative platform aimed at changing the cross-border real estate investment landscape, said it has successfully closed its pre-seed funding round of an undisclosed amount. This round is led by Foundamental, a global VC firm based in Berlin, Germany, and also sees significant investment from Prashant Malik, General Partner at Tykhe Block Ventures, in his individual capacity. Founded by serial entrepreneur Jamil Ahmed, Marrfa is set to democratise access to high-yield real estate investment opportunities worldwide, specifically targeting the challenges within the $270 billion unstructured cross-border real estate market. Ahmed, credited with co-founding Fashinza and scaling it to a $300 million valuation across four continents within three years, is utilising his vast experience in cross-border investments and trade flow to innovate within the traditional real estate industry. Marrfa introduces a seamless platform for identifying lucrative real estate investment opportunities, enabling comprehensive information access with a single click.