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Paytm IPO: All you need to know
IPO of Digital payment platform Paytm opened on Monday. The company is looking to raise $2.46 billion to become the biggest IPO in India. Paytm’s IPO is the fourth by an Indian tech startup and the third since October 28, when beauty products retailer Nykaa launched its IPO. This was followed by a public offering by Policybazaar from November 1 to 3.
The price band of the Rs 18,300 crore share sale, which concludes on November 10, has been fixed at Rs 2,080-2,150 per share. Paytm parent One97 Communications has already raised Rs 8,235 crore from anchor investors ahead of its share sale.
The allotment will be finalised by November 15 and listing is expected on November 18. Eligible investors will receive shares in their Demat accounts by November 17.
According to Axis Capital, the post-issue market cap of the company will be around Rs 135,111 – 139,379 crore. The minimum bid lot size has been fixed as 6 equity shares and in multiples of 6 shares thereafter. So, retail investors can invest a minimum of Rs 12,900 for a single lot and their maximum investment would be Rs 1,93,500 for 15 lots. Up to 75 per cent of the offer is reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and the remaining 10 per cent for retail investors.
There is a fresh issuance of equity shares worth Rs 8,300 crore and Rs 10,000 crore from an offer for sale (OFS) by existing shareholders. The offer will be the biggest in the country after Coal India’s IPO in 2010, which garnered Rs 15,200 crore.
Last week, Paytm raised Rs 8,235 crore from anchor investors. Global investors like BlackRock, Vanguard, and Fidelity are among the large anchor investors. Paytm has now raised 45% of the total capital it needs to raise through the IPO.
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MPSC Sets August 31 Deadline to Resolve Student Doubts on Online Examinations
Commission plans complete clarity on score normalization and server security ahead of digital transition.
The Deadline
The Maharashtra Public Service Commission (MPSC) has established an August 31 deadline to address candidate concerns regarding the transition to online computer-based examinations.
The initiative follows a meeting at MPSC’s CBD Belapur office with student representatives, competitive exam tutors, and youth delegation leaders. Candidates raised critical queries regarding technical infrastructure, server security, and the score normalization formula used across multi-shift examinations.
MPSC officials assured representatives that the commission is taking a constructive approach to student feedback to ensure maximum transparency and fairness. Addressing concerns over scheduling, officials clarified that exam calendars are being structured carefully to prevent overlapping dates across different competitive tests.
To ensure technical integrity, MPSC aims to establish a fully robust, independent in-house digital examination framework by 2027. The commission reiterated that exams will not be outsourced to private contractors. Third-party agencies will only function as technology partners, while C-DAC performs comprehensive technical audits.
Officials affirmed that online examinations will only be conducted once all safety measures and technical readiness are fully achieved.
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NMMC Issues Public Advisory on Illegal Constructions Following High Court Directives
Civic body intensifies citywide crackdown, orders mandatory hearings, and cautions prospective homebuyers.
Illegal Constructions
Following strict directives from the Bombay High Court in ongoing Public Interest Litigation (PIL) proceedings, the Navi Mumbai Municipal Corporation (NMMC) has issued a comprehensive public advisory against unauthorized constructions across the city.
A citywide survey conducted by the civic body identified 12,687 unauthorized or irregular constructions. Alarmingly, 4,946 of these structures were found to have been erected without any municipal building permissions.
In compliance with judicial orders, NMMC ward offices are conducting a minimum of 150 hearings per week (50 per day, three days weekly) to give property owners an opportunity to present their cases. While owners of eligible structures can apply for regularization through the town planning department, active demolition drives are already underway against non-compliant properties across municipal wards.
The municipal corporation warned that offenders will face legal prosecution under the Maharashtra Regional and Town Planning (MRTP) Act, with demolition costs directly recovered from property owners.
NMMC also issued a strong warning to prospective homebuyers, urging them to verify building permissions, Commencement Certificates (CC), and Occupation Certificates (OC) on the official civic portal before making any property purchases. The authority reiterated that unauthorized buildings will be denied municipal water and sewerage connections.
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Bombay High Court Restores Navi Mumbai Hotel License, Calls for Practical Enforcement
Court sets aside FDA suspension of four-star hotel’s food license over minor infraction, orders statewide audit of government canteens.
The Food License
The Bombay High Court has set aside an order by the Food and Drug Administration (FDA) that suspended the food safety license of Park Inn by Radisson in Navi Mumbai. Directing authorities to adopt a “realistic approach,” the court ordered the immediate restoration of the hotel’s Food Safety and Standards Authority of India (FSSAI) license.
The FDA had suspended the four-star hotel’s license following a surprise inspection where officials reported hygiene lapses after spotting two insects in the kitchen area. However, a bench comprising Acting Chief Justice Ravindra Ghuge and Justice Gautam Ankhad observed that the hotel had maintained an overall compliance score of 95 percent on hygiene and food safety standards.
The court ruled that shutting down operations based on a single, minor finding was disproportionate. “We are in India. We have to take a realistic stand,” the bench remarked while quashing the suspension.
Addressing potential bias in regulatory actions, the High Court expanded the scope of the matter. It ordered the FDA to conduct comprehensive inspections of all government and semi-government eating establishments state-wide including canteens at the Mantralaya and the High Court and present status reports along with video documentation.
While FDA legal representatives denied selective enforcement noting that several public canteens and prominent Mumbai clubs have also faced action the court’s ruling sends a clear message on balancing regulatory enforcement with practical considerations.
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