India’s 3rd most-valued startup OYO files for ₹8,430-crore IPO
Hospitality firm OYO has filed a draft prospectus to raise ₹8,430 crore (over $1.1 billion) through an initial public offering (IPO). The SoftBank Group-backed company’s IPO comprises fresh share sale of up to ₹7,000 crore. Founded by Ritesh Agarwal in 2013, the startup was last valued at about $9 billion, according to CB Insights, making it India’s third-most valued startup.
Paras Defence stock lists at 171% premium after most subscribed IPO since 2007
Paras Defence and Space Technologies on Friday made its stock debut at ₹475 per share on BSE, a 171% premium above its issue price of ₹175. The Navi Mumbai-based defence company’s ₹170-crore IPO was oversubscribed by 304 times in September, the highest subscription received by any IPO since at least 2007. As of 10:00 am, the stock hit ₹498.75 apiece.
BSNL seeks ₹40,000 crore support from government
BSNL has approached the government for ₹40,000 crore financial help. “We’ve asked for ₹20,000 crore sovereign guarantee to pay back our short-term debt and issue long-term bonds,” BSNL Chairman and MD PK Purwar told PTI. “We will need ₹20,000 crore if we’ve to set up 1 lakh node B (mobile sites) for mobile network rollout,” he added.
Aditya Birla Sun Life AMC IPO fully subscribed on Day-2
The IPO of Aditya Birla Sun Life AMC was subscribed 1.07 times on the second day of subscription. It received bids for 2.98 crore equity shares against IPO size of 2.77 crore equity shares, data available on exchanges showed. The portion set aside for retail investors was subscribed two times, while non-institutional investors bought 40% of their reserved portion.
23-year-old BharatPe Co-founder youngest self-made Indian on Hurun Rich List
Shashvat Nakrani, the 23-year-old IIT Delhi graduate who co-founded BharatPur in 2018, is the youngest self-made individual to feature on Hurun India Rich List 2021. He co-founded merchant payments startup BharatPur in the third year of his college. Streaming data tech company Confluent’s 36-year-old Co-founder, Neha Narkhede, is the youngest self-made woman entrepreneur on Hurun India Rich List.