PhonePe files updated IPO papers; Walmart, Tiger Global, Microsoft to sell...
PhonePe, India's largest digital payments platform, has filed an updated draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for what could be one of the most anticipated fintech IPOs.The offering is structured entirely as an offer for sale, with no fresh capital being raised for the company. According to the filing, the initial public offering (IPO) comprises up to 5.06 crore equity shares being sold by existing shareholders.Walmart's vehicle, WM Digital Commerce Holdings, is offloading the largest portion at 4.59 crore shares. The retail giant currently holds an 83.9% stake in the Bengaluru-based payments firm.Tiger Global is selling 10.39 lakh shares, while Microsoft Global Finance Unlimited Company is divesting 36.78 lakh shares as part of the offering.The IPO document specifies that the weighted average cost of acquisition for all three selling shareholders is exactly Rs 1,996.80 per equity share.The Book Running Lead Managers for the offer include a primary group consisting of Kotak Mahindra Capital Company Limited, Axis Capital Limited, JP Morgan India Private Limited, and Goldman Sachs (India) Securities Private Limited. They are supported by an additional group of lead managers, which includes Citigroup Global Markets India Private Limited, Jefferies India Private… Read MoreYourStory RSS Feed
Delhi Will Get A Unified Helpline Number: 112 For All Emergencies...
Soon the residents of Delhi will be able to access multiple emergency services by dialling a unified helpline 112. Delhi Launching Unified Emergency Helpline Prior to this the residents had to dial multiple numbers but now the Delhi chief minister Rekha Gupta, announced the single emergency number, saying the Ministry of Home Affairs declared ‘112’ as the national emergency number and in line with this, Delhi is moving towards its implementation. Further, Gupta said, “Depending on the nature of the emergency, the police, fire services, ambulance and disaster management agencies can be alerted simultaneously by dialling 112,”. She added, “Assistance can be sought not only by phone but also via a mobile app, an emergency button, SMS, and online platforms, ensuring that even if a citizen is unable to speak, they can still send a distress signal with ease.” This unified helpline system which is named as ERSS 2.0, will feature a modern dashboard in the control room where details like real-time monitoring of where an incident has occurred, which vehicle has been dispatched, and how long it will take to reach the site will be available. ERSS 2.0 – A Modern, Unified Signal-Handling System When it comes to the… Read MoreBusiness Archives - Trak.in - Indian Business of Tech, Mobile & Startups
Movie Ticket Hike Should Be Declared 90 Days In Advance ...
The issue surrounding movie ticket prices and recent price hike controversies in Telangana has taken a new development. The Telangana High Court has ruled that any future ticket price increases or revisions must be finalized and publicly announced at least 90 days before a film’s release. Why has this new rule been introduced? Read on to find out all the details! Telangana High Court Sets 90-Day Rule for Movie Ticket Price Hikes This rule is meant to prevent last-minute or “11th-hour” approvals and to maintain transparency under the Telangana Cinemas (Regulation) Act, 1955. The new court order creates a challenge for special Sri Rama Navami releases such as Nani’s The Paradise, scheduled for March 26, and Ram Charan’s Peddi, scheduled for March 27. Because these films are releasing in less than 90 days, they are not eligible to receive ticket price hikes in Telangana under the new rule. Film Producers May Need to Postpone Releases to Secure Ticket Price Increases If the makers keep the announced release dates, the films will have to be released without ticket price increases. Releasing without price hikes will likely cause a slight drop in box office collections compared to normal trends. If the producers… Read MoreBusiness Archives - Trak.in - Indian Business of Tech, Mobile & Startups
Budget 2026: From experiments to scale, space industry wishlist
The stunning visual of a rocket rising from the Sriharikota launch pad often masks the ground reality of the balance sheets that make such feats possible.For the founders and investors behind India’s burgeoning space corridor, the thrill of orbital success is increasingly met with the sobering necessity of commercial sustainability.As the nation prepares for its next fiscal roadmap, the conversation has shifted from the mere possibility of private participation to the urgent need for a structured marketplace.Industry experts, founders, and investors expect the upcoming Union Budget to provide a decisive shift from project-led experimentation to programme-led scale by establishing the government as a primary anchor customer.Anchor procurement demandSpacetech leaders believe that predictable demand is more catalytic for growth than capital alone. While the Indian Space Policy 2023 opened the doors, founders argue that the government must now step through them as a buyer.Indian Space Association (ISpA) has called for a 50% mandate for all government procurement of space-based services and hardware to be sourced from domestic private entities. This would mirror global best practices where agencies like NASA and the ESA source the vast majority of their systems from the private sector, as the apex industry body.Industry experts and founders… Read MoreYourStory RSS Feed
