Latest News
Rs 18,300 crore Paytm IPO to open on November 8
Mobile payments firm Paytm is all set for its Rs 18,300 crore initial public offering, which will happen between November 8 and 10 at a price band of Rs 2,080-2,150, the company said in its Red Herring Prospectus issued on October 27.
This is touted to be India’s largest market debut, a record that was previously held by Coal India, which raised Rs 15,000 crore over a decade ago. The company which had planned a Diwali listing got delayed on its plans by over a week following a delay in approval by the Securities and Exchange Board of India (SEBI).
Paytm is currently India’s second most-valuable internet company, last valued at $16 billion when it raised a billion dollars in November 2019 led by T Rowe Price, Discovery Capital and D1 Capital.
The public offer is expected to take the company’s valuation to $20 billion. The company which was earlier planning to raise Rs 16,600 crore revised the amount to Rs 18,300 crore following an increased investor interest.
As per the document, while the fresh issue is Rs 8,300 crore the offer for sale consists of Rs 10,000 crore which includes Rs 402 crore of the aggregate amount of equity shares offered by founder Vijay Shekhar Sharma.
Others who will be selling their stakes include Ant Financials at Rs 4,704 crore, Alibaba at Rs 784 crore, and SAIF III Mauritius Company at Rs 1,327 crore. Paytm had filed it’s Draft Red Herring Prospectus (DRHP) with the market regulator in July. It will be listed on the Bombay Stock Exchange and the National Stock Exchange.
Latest News
Legacy of Learning: Education Pioneer Padma Shri Dr. D. Y. Patil Passes Away at 90
From establishing premier universities to serving as Governor, the visionary founder leaves behind an indelible mark on Indian education.
The Demise
Dr. Dnyandeo Yashwantrao (D. Y.) Patil, a pioneering force in India’s higher education landscape and former Governor, passed away in Kolhapur at the age of 90.
Affectionately honored as “Shikshanmaharshi” (Grand Teacher), Dr. Patil transformed access to professional education over a career spanning several decades. Through the D Y Patil Group, he established over 150 institutions including top medical colleges, engineering institutes, and deemed universities across Navi Mumbai, Pune, Kolhapur, and Mumbai.
His immense contributions to education and healthcare earned him the prestigious Padma Shri in 1991. Beyond academia, Dr. Patil was an influential figure in public administration, serving as a Maharashtra MLA and later as Governor of Tripura, Bihar, and West Bengal. His vision also brought world-class sports infrastructure to Navi Mumbai with the iconic D Y Patil Stadium.
Tributes have poured in from political leaders, academics, and citizens nationwide, honoring a leader whose legacy endures through the millions of students educated across his institutions.
Latest News
Commuters Left Stranded as NMMT Bus Breakdowns Surge During Peak Hours
Frequent mechanical failures and poor fleet maintenance trigger severe delays across Navi Mumbai, leaving daily passengers frustrated.
Breakdown
Daily travel has turned into a chaotic trial for thousands of residents as a wave of municipal bus breakdowns continues to disrupt peak-hour commutes across the region.
Passengers relying on the Navi Mumbai Municipal Transport (NMMT) network which ferries over 2.5 lakh commuters daily across Navi Mumbai, Thane, Mumbai, and Kalyan-Dombivli face persistent delays, missed connections, and dangerously overcrowded buses.
The frequency of breakdowns has sparked sharp concerns regarding passenger safety. Civic activists and groups like the Airoli Citizens’ Forum have formally escalated the crisis to senior NMMC officials, citing unaddressed maintenance lapses like faulty braking systems, worn tires, and sudden engine failures mid-route. Transit officials attributed the breakdown surge to technical snags worsened by rain and severe negligence by the private maintenance contractor.
In response to public outcry, authorities have blacklisted the failing contractor and handed maintenance back to original vehicle manufacturers, promising fleet reliability will improve in the coming days.
Latest News
Citizens Lose ₹68 Crore Across 178 Reported Cases
Spike in investment schemes and fake “digital arrests” leaves residents reeling as police push for faster reporting.
Cyber Crime Surge
A sharp surge in digital scams has siphoned off a staggering Rs 68 crore across 178 reported cases, highlighting the aggressive tactics used by cybercriminals.
Fraudsters are relying on high-yield online investment traps, fake job promises, and high-pressure “digital arrest” schemes where impostors pose as law enforcement officers over video calls to extort money. Senior citizens have been hit especially hard, often losing life savings in minutes.
A primary challenge for police is the speed at which funds are funneled through networks of secondary accounts and converted into cryptocurrency, leaving law enforcement able to recover only a fraction of the stolen money. Police urge the public to remember that no government agency conducts online arrests or demands money over video calls.
If targeted, report the crime immediately to the national helpline 1930 or at cybercrime.gov.in. Calling within the “golden hour” remains the single best chance to freeze funds before they disappear.
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