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
Storm Disrupts Fishing Season in Uran
Fishermen face losses as rough seas halt operations and diesel quota remains pending.
The Storm
The fishing season in Uran has barely begun, but local fishermen are already facing difficulties. Rough weather and strong winds in the sea have forced several fishing boats to remain anchored at Karaj and other nearby ports.
The disruption has come at a difficult time for the fishing community, which is already struggling with rising operational costs and declining fish catches. With boats unable to venture into the sea, fishermen fear further financial losses during what is expected to be an important fishing season.
Another major concern is the delay in the allocation of the diesel quota. Fishermen depend heavily on subsidized diesel to operate their boats, and the delay has added to their financial burden. They have urged the authorities to approve the quota at the earliest. Fishermen have also raised concerns about the lack of a guaranteed price for their catch and adequate compensation for losses. Although fishing has been given agricultural status, they say they are yet to receive benefits comparable to those available to farmers.
For many families in Uran, fishing is not just a business but their main source of livelihood. The combination of unpredictable weather, rising costs and policy-related issues has made the beginning of this season particularly challenging.
Fishermen are now hoping that weather conditions improve soon and that the government addresses their concerns, allowing them to return to the sea and continue their work without further financial uncertainty.
Latest News
MNS Seeks Fever Profile Tests at Nerul and Karave Health Centres
Demand comes amid monsoon-related illnesses, with residents seeking quicker access to dengue and other fever tests.
The Tests
With monsoon-related illnesses on the rise, the Maharashtra Navnirman Sena (MNS) has urged the Navi Mumbai Municipal Corporation (NMMC) to start fever profile testing at its health centres in Nerul and Karave.
MNS city secretary Sachin Kadam submitted a letter to NMMC Medical Officer Dr Rajesh Mhatre, requesting that the facility be made available at the health centres in Sector 48, Nerul, and Sector 36, Karave.
At present, residents visiting these centres with fever are primarily advised to undergo malaria testing. If the report is negative, patients are asked to visit Meenatai Thackeray Hospital for further tests for dengue and other infections. Residents say the additional travel can be difficult, particularly for elderly people and those who are unwell.
A fever profile test generally includes tests for dengue, malaria, typhoid, leptospirosis and a complete blood count (CBC), helping doctors identify the possible cause of fever at an early stage. Sachin Kadam said providing these tests locally would save patients time and reduce the need to travel to another facility for basic investigations.
Following the request, the NMMC Medical Officer reportedly assured the MNS delegation that fever profile testing would soon be introduced at both health centres. The move, if implemented, could make diagnosis more convenient for residents and help ensure that patients receive timely medical attention during the monsoon season.
Latest News
Airoli to Get Modern Digital Bus Shelters as NMMC Reviews Public Transport
Old and damaged shelters to be replaced, while new bus stops and routes will be considered based on residents’ demands.
The Digital Bus Shelters
With Navi Mumbai witnessing rapid growth and an increasing number of commuters, the NMMC Transport Committee has begun reviewing public transport facilities across the city.
As part of the initiative, Transport Committee member Advocate Yashpal Ohal conducted an on-ground inspection of Airoli Ward No. 5, covering Sectors 5, 8, 9, 14, 15 and 19, along with Diva village. Transport department officials, local representatives and social workers accompanied him during the visit.
Ohal interacted with residents, local representatives and students waiting at bus stops to understand their everyday difficulties. Commuters raised concerns about bus timings, routes, inadequate shelters and the need for better connectivity in several areas. During the inspection, the committee also explored the possibility of introducing new NMMT bus services on routes where residents have been demanding improved connectivity.
Ohal said several old and damaged bus shelters in Airoli, some of which have existed since around 1990, will be replaced with modern digital shelters. Surveys will also be conducted at locations where residents require new bus stops.
He said the aim is to make public transport more convenient and passenger-friendly. The necessary administrative procedures will be completed soon, after which work on the new digital shelters is expected to begin. The initiative is expected to provide commuters, particularly students and daily passengers, with safer and more comfortable waiting spaces.
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