Platform Financial News

SME IPO of Basilic Fly Studio is receiving a stellar response from investors with the overall subscription at 110 times on the second day of the bidding process. The issue, which opened on September 1, comprises fresh equity of up to Rs 60.5 crore and an offer for sale (OFS) of 6 lakh shares. The company plans to raise about Rs 66 crore from the IPO, which closes tomorrow. According to NSE data, the issue has received bids for 56 crore shares worth Rs 5,507 crore on the second day against just 50.96 lakh shares on offer. Basilic Fly Studio is a visual effects (VFX) Chennai-based studio with subsidiaries operating in Canada and the UK, which specialises in creating visual experiences that captivate audiences around the world. It holds proficiency in the VFX industry and has delivered high-quality VFX solutions for movies, TV, net series, and commercials. According to market sources, the company's shares are commanding a huge premium of Rs 270 in the unlisted market. The company is offering shares for a price band of Rs 92-97 apiece, and investors can bid for 1,200 shares in 1 lot. About 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 35% is set aside for retail investors. For the year ended March 2023, the company has recorded revenues of Rs 78.95 crore and net profit of Rs 27.74 crore. The net proceeds from the public offer will be used to set up a studio in Hyderabad, adding infra to strengthen existing facilities and general corporate purposes. GVR Capital Advisors is acting as the lead manager for the issue, while Purva Sharegistry is the registrar. The final allotment will likely be made on September 8.

It is a noteworthy shift from the past when the parents relied on selling land or properties. The spotlight on this unique trend is amplified by the active involvement of marriage bureaus, leveraging social media platforms to propagate their messages. Popping up on timelines are posts such as, “Study visa in hand, seeking groom for education package of Rs 25 lakh. Interested parties may inquire.” Now, the parents are on the lookout for potential grooms who can share the financial responsibilities associated with their daughters’ education.

RBI innovation. He was all praises for the RBI's latest pilot project. He took to X, (formerly known as Twitter) to share a demonstration video of RBIs Public Tech Platform for Frictionless Credit (PTPFC) pilot project.

Founded in 2007, Vinculum has gained a reputation for its highly advanced technology solutions, enabling brands and retailers to achieve rapid business expansion. With a strong emphasis on D2C, omnichannel retailing and supply chain optimization, automated catalog listing, product information management, and payment reconciliation, Vinculum has proven to be a trusted partner for businesses seeking streamlined operations and elevated customer satisfaction.

Bitcoin SV (BSV) is battling key resistance from the 20DMA, as bulls attempt to secure foothold amid retracement move.

The London Stock Exchange Group (LSEG) is exploring the potential for using blockchain to offer extensive trading of traditional financial assets, a company executive told the Financial Times on Monday.

Candy Chain and Shiba Inu ($SHIB). While Shiba Inu has gained notoriety as a meme coin with a strong community, Candy Chain is emerging as a technological marvel in the DeFi landscape. This article aims to dissect the features, communities, and investment potentials of both, ultimately showcasing why Candy Chain stands out as the superior choice for savvy investors.

Welcome to the Reader’s Query segment of FE Money. Today, Darshan Pawar writes he had taken a total home loan of Rs 40 lakh in 2019, of which the outstanding amount now is Rs 25 lakh. Darshan is also doing a monthly SIP of Rs 10,000 and he has Rs 14 lakh in the Employees Provident Fund (EPF) account.

The advent of digitalisation has transformed various sectors, including the real estate market. Renting homes via online platforms has emerged as a novel trend, gaining acceptance for its numerous advantages. Still, some people harbour reservations about the online rental process. Let’s explore how digital platforms are prioritising safety, transparency, and convenience in the home rental landscape.

Liminal, a digital asset custody provider, has announced the launch of its Whitelabel Custody Solution. This offering seemingly allows Web3.0 enterprises to manage digital assets.

The price of Stellar (XLM) has jumped by 10% in the past 24 hours, with its move to $0.125598 coming after the Stellar team hinted at the release of "something cool" in the next ten days.

Elon Musk took over the social media platform X(formerly Twitter), Walter Isaacson who wrote the biography "ELon Musk" and will be published on 12 September has given a detailed account on why Elon Musk sacked Parag Agrawal, the then Twitter CEO.In an excerpt carried out by The Wall Street Journal , Musk who had a meeting with Parag Agrawal said he was a "really nice guy." "What Twitter needs is a fire-breathing dragon," Elon Musk said after that meeting, as per biographer Isaacson. "And Parag is not that." Elon Musk met Parag Agrawalover a dinner in March 2022, according to the biographer.

non-convertible debentures (“NCDs") to raise an amount aggregating up to ₹400 crores, which is within the shelf limit of ₹1,100 crore. The first tranche issuance of ₹100 crore comes with a green shoe option of ₹300 crore aggregating up to ₹400 crore. The Tranche I Issue with a face value of ₹1000 has been open to the public till Thursday, 14th September 2023.

The PEPE price has risen by 4.5% in the past 24 hours, with the meme token's move to $0.000000818131 coming on a very flat day for the cryptocurrency market as a whole.

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The Digital Dollar Project is the brainchild of former CFTC chair Chris Giancarlo, ex-CFTC chief innovation officer Daniel Gorfine and Pure Storage CEO Charles Giancarlo, who have set up a not-for-profit to encourage research and public discussion about a CBDC.The project worked with Western Union, BDO Unibank in the Philippines, and Accenture on the latest pilot, designing and configuring a platform using DLT to simulate the payments infrastructure necessary to transfer digital dollars to Philippine pesos. The partners say that they saw reduced counterparty and credit risk thanks to instant settlement.

«We stabilised our opex infrastructure to deliver almost Rs 500-600 crore a month and our capacity is much larger but this is where we want to remain stable for at least first three quarters of the year and we are doing that,» says Shachindra Nath, UGRO Capital.Well, we have been seeing stellar numbers from you in the last many quarters but talk to us about how Q2 is panning out in terms of the disbursement momentum, in terms of the demand on the ground.We stabilised our opex infrastructure to deliver almost Rs 500-600 crore a month and our capacity is much larger but this is where we want to remain stable for at least first three quarters of the year and we are doing that. So, I think that this quarter is panning out to be exactly similar as the last Q1 for us.

UAE astronaut Sultan AlNeyadi has marked a triumphant return to Earth after a remarkable six-month sojourn aboard the International Space Station (ISS). Notably, AlNeyadi holds the distinction of being the first person from the Arab world to journey into the cosmos and the first Arab astronaut to accomplish a 7-hour spacewalk. In a heartfelt message to the cosmos, AlNeyadi conveyed, «Space, this is not a goodbye.

In the lively city of Bengaluru, it's a common occurrence to witness local residents using social media platforms to search for potential tenants. Recently, a landlord who goes by the username @Bharath_MG posted his property for rent on 'X' (formerly Twitter), and it quickly garnered attention. The property was highly attractive, boasting modern interiors and amenities, which drew Bengalureans to it in droves.