Impact of Paytm: MobiQuick avoids IPO plans this month

-


Other startups wary of public issue after Paytm crash

MUMBAI: Other startups are also worried about their public issue, fearing a disappointing listing of Paytm's IPO. Following the incident, another online payment firm, MobiQuick, has so far scrapped plans to launch a public issue by the end of this month.

Notably, Paytm's stock plunged 3% on the first day of listing and a total of 30% in two days. After this incident, startups are adopting a 'wait and see' strategy to bring in an IPO.

Bipin Preet Singh, CEO of Bajaj Finance-backed MobiQuick, said the disappointing listing of major rival Paytm was unexpected. "We will announce it when we feel we can bring a successful IPO," The company received regulatory approval in October to bring in an IPO.

The company had submitted documents to SEBI in July for an IPO worth Rs 1,200 crore. MobiQuick is seen as a smaller competitor to Paytm.

Sources said that the company had earlier planned to launch an IPO before Diwali, but since then the company has decided to wait to see the response to Paytm's IPO.

Sources said that before the listing of Paytm, MobiQuick's unlisted shares were trading at Rs 150 in the Grow Market, which is currently trading at Rs 200, down 9 per cent.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more