Food and grocery delivery company Swiggy on Friday confidentially filed its draft documents for an initial public offering (IPO) with stock market regulator Securities and Exchange Board of India (Sebi), sources told us.109639958The Bengaluru-based company has filed for a $1.25-billion public issue through the confidential route, whereby draft red herring prospectuses (DRHPs) are not released to the public. This came a day after Swiggy’s shareholders approved its IPO plan, which includes a fresh...
Hi, this is Pranav in New Delhi. It’s been a busy week for us here at ETtech breaking some important stories around the quick-commerce sector. Shelf spaceOn Thursday, my colleagues Apoorva and Soumyajit wrote about how getting a spot on quick commerce platforms has become a challenge for direct-to-consumer (D2C) brands, which are coughing up 40-45% in commissions to apps such as Blinkit, Zepto and Swiggy Instamart. 109447781This is reminiscent of the early days of ecommerce boom when smaller...
The board of Paytm Payments Bank is independent and capable of addressing regulatory concerns, the chief executive officer of digital payments firm Paytm, formally known as One97 Communications Ltd, (OCL) said on Monday. I, personally or anyone from OCL, have no connection with the payments bank, Vijay Shekhar Sharma said at a webinar. There is an independent board taking care of everything and we have full faith in their capability. The Reserve Bank of India (RBI) in late January had...
Several state treasurers and other officials sent a letter to Bank of America warning the banking giant of apparently targeting customers with conservative politics by de-banking them—however, Tennessee State Treasurer David Lillard's signature was absent.
The regulatory action on Paytm Payments Bank has brought the mobile wallet business of the entity, one of its most popular offerings, to a grinding halt. While it cannot add new customers as per the Reserve Bank of India diktat, transactions on the platform have fallen drastically over the last three months as consumers slowly move out of Paytm Payments Bank’s wallet ecosystem.According to data released by the RBI, Paytm Payments Bank reported 7.4 million fund transfer transactions in its...
Will Bank of America follow rivals in posting better-than-expected Wall
ST. GEORGE — In case you missed it, here is your weekend recap of the top five most-viewed stories published on St. George News from Saturday to Sunday, April 27-28. See the related stories at the bottom of this page for five honorable mention stories. 2 women in jail for allegedly stealing $2,500 in merchandise […]
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Sonali Basak, Gina Martin Adams, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Razorpay has launched its own Unified Payments Interface (UPI) infrastructure in partnership with Airtel Payments Bank. The new infrastructure, UPI Switch, boost success rates by 4% to 5%; handles up to 10,000 transactions per second at any given time; and enables five times faster access to UPI innovations for business, Razorpay said in a Wednesday (April 24) press release. “This […]