Swiss prosecutors freeze accounts linked to Adani probe; IPOs of 2024 so far have raised more money than all of 2023; Vacation Financing & more

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IPOs of 2024 so far have raised more money than all of 2023

The year 2024 has seen a total of 57 completed IPOs so far, and the number is similar to that seen in 2023. However, the same 57 IPOs have raised more money in the first eight-and-a-half months of the year, than the whole of last year.

According to data from Prime Database, the 57 IPOs in 2024 have raised over ₹62,000 crore from the primary market, compared to the ₹49,400 crore that 57 IPOs had raised in all of 2023. This is excluding the ₹18,000 crore Vodafone Idea Follow-On Public Offer (FPO). August has been the best month of the year so far in terms of funds raised. The 10 IPOs that opened for subscription that month, cumulatively raised over ₹17,000 crore.

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Swiss prosecutors freeze accounts linked to Adani probe; group refutes allegations

Hindenburg Research has alleged that Swiss authorities have frozen over $310 million in six bank accounts connected to the Adani Group, as part of an investigation into money laundering and securities fraud dating back to 2021. The US shortseller's claims, cited from Swiss media, suggest that Adani’s funds were invested through opaque offshore entities. In response, Adani Group firmly denies the allegations, asserting that it is not involved in any Swiss court proceedings and dismissing the claims as baseless.

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Arvind Kejriwal Bail Live: Supreme Court to pronounce two judgements today

The Supreme Court will deliver its verdict on Delhi Chief Minister Arvind Kejriwal's petitions seeking bail and challenging his arrest by the Central Bureau of Investigation (CBI) in the excise policy 'scam'.  A bench headed by Justice Surya Kant is slated to pronounce the verdict. The bench, also comprising Justice Ujjal Bhuyan, had on September 5 reserved its verdict on the pleas.The CBI arrested Kejriwal on June 26.The matter relates to alleged corruption in the formulation and execution of the Delhi government's excise policy for 2021-22, which has now been scrapped.

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#TechTalks📱

Google's India-first Read Along app reaches over 40 million children globally

Google’s Read Along app has now reached over 40 million children globally, helping them improve their reading skills. Since its launch, the app has helped over one million beginner readers to read over 250 million stories, showing a 40% improvement in reading fluency.

Initially launched in India under the name Bolo, Read Along was designed to aid children in building foundational literacy skills in English and Hindi. Early tests in rural Uttar Pradesh showed promising results, with 64% of users improving their reading proficiency.

By September 2019, the app had attracted over eight lakh users, who collectively read more than three million stories. Expanding its language offerings, the app soon added Spanish and Portuguese.

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Jack Ma-backed Ant Group is refinancing a credit line of $6.5 billion

Jack Ma-backed Ant Group Co. is refinancing an offshore credit line that will reach $6.5 billion, as it expands its global operations, according to people familiar with the matter.

The Chinese company plans to allocate $1.5 billion of the borrowing quota for its overseas arm Ant International, the people said, asking not to be identified because the matter is private. Ant said in an emailed statement that the company is refinancing an existing syndicated bank credit line from 2019.Ant has been expanding its global operations to offset slowing growth at home. In March, it set up independent boards for its international, database and digital technologies units to pave the way for future spinoffs.

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#DailyData📈

#PersonalFinance💰

Vacation Financing: Is personal loan a cost-effective option?

Planning a dream vacation often requires more than just a wishlist. For many, financing the trip becomes a key consideration. While saving up or using credit cards are common methods, a personal loan could be a strategic option for funding your travel.

Lower interest rates

Personal loans typically offer lower interest rates compared to credit cards.Sidharth V, Chief Risk Officer at KreditBee, explains, "Credit cards often come with high interest rates that can lead to mounting debt if not managed carefully. Personal loans, on the other hand, generally provide more favourable rates, making them a cost-effective choice for financing vacations."

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Women's term insurance purchases rise 80% in two years — working women, housewives drive the boom

In the past two years, term insurance purchases by women have soared by 80%, according to a Policybazaar survey. Not only are more women buying policies, but they are also opting for higher coverage amounts, with a 120% increase in high-cover plans.This trend shows growing financial awareness among women, especially in metropolitan cities, with millennials at the forefront, Policybazaar said.

Both housewives and working women lead the charge

Working women, both salaried and self-employed, have made up 55-60% of these purchases. Housewives, who now account for 40% of policies, are also taking an active role in securing financial protection for their families.

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#ExpertEdge💡

Comrade Yechury, an idealist who smiled, fought and survived the darkest times

In the time of deceit, telling the truth is a revolutionary act — a quote often attributed to George Orwell succinctly describes our beloved comrade Sitaram Yechury.

What else can one say about the man, a student leader, a parliamentarian, an idealist who wore his history on his face? I have often said to friends and on different platforms, Comrade Sitaram Yechury would have been an ideal PM of a country so divided on caste, poverty index and communal fault lines.He was classy, he was massy, suave with a razor sharp tongue — taking the Hitlers of the world to task at the same time he could walk into any international symposium and impress a global audience with his quick wit and candour.

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#Podcasts🎙️

Are EVs Truly The Future, Or Will Hybrids Rule The Road?

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