1947 Tech 🇮🇳: 196
A lot is happening!
1. All you need to know about Delhivery’s IPO
Delhivery’s Rs 5,235-crore initial public offering was subscribed 21% on the first day of bidding. The IPO closes on May 13.
Retail investors bid for 30% of the shares reserved for them.
Non-institutional investors bid for 1% of shares in their quota.
Qualified institutional buyers bid for 29% of shares in their quota.
Employees booked 6% of their allocation.
Of the total issue, 75% is reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% for retail investors. The company has also reserved shares worth Rs 20 crore for employees who will get them at a Rs 25 discount on the final offer price.
2. Halted UPI payments because of “informal pressure” from the RBI: Coinbase CEO Brian Armstrong
In a strongly worded reaction to its recent run-in with the Indian central bank, Brian Armstrong, CEO and cofounder of Nasdaq-listed Coinbase said the company disabled its Unified Payments Interface (UPI) services because of “informal pressure” from the Reserve Bank of India
“So a few days after launching, we ended up disabling UPI because of some informal pressure from the Reserve Bank of India, which is kind of the Treasury equivalent there,” Armstrong said at the company’s earnings call to discuss the first quarter financial results on Tuesday.
“India is a unique market, in the sense that the Supreme Court has ruled that they can’t ban crypto, but there are elements in the government there, including at the Reserve Bank of India, who don’t seem to be as positive on it,” he added, responding to a question on what had happened in India
Halted UPI payments because of “informal pressure” from the RBI: Coinbase CEO Brian Armstrong
A tweet:
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