Newsletter | How HNIs are maximising returns with mutual funds; MobiKwik launches ₹572 crore IPO today; Delhi Assembly Polls & more – CNBC TV18
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MobiKwik launches ₹572 crore IPO today — What should investors do?
Fintech company OneMobiKwik’s ₹572 crore IPO has opened for subscription on Wednesday, December 11. The entire issue is a fresh issue of shares with no Offer For Sale (OFS) component.
Ahead of the IPO, MobiKwik raised ₹257 crore from Anchor investors, which included the likes of White Oak Capital, 360 One Asset, Axis MF, SBI MF among others.Price band for the IPO has been fixed between ₹265 to ₹279 per share.Mobikwik plans to use these funds for growth, expansion and R&D.
India demands permanent WTO solution on public stockholding before other agricultural issues
India has reiterated its stance at the World Trade Organization (WTO) on the need for a permanent solution to the issue of public stockholding of essential food grains before any other agricultural matters are addressed.
Following the re-election of Ngozi Okonjo-Iweala as WTO Director-General, India is said to be building a coalition with WTO member countries and interest groups in the Global South to safeguard global food security.
Assuring that it will not compromise on the livelihoods of its farmers or food security, government sources have told CNBC-TV18 that India’s income-based support to farmers contrasts with the production-based support seen in developed countries, which distorts trade and sustainability.Sources added that even Pakistan has joined India in advocating for public stockholding interests.
Following discussions with WTO’s DG in November, India conducted online talks with Indonesia, Costa Rica, Sri Lanka, and Pakistan on the issue.
Another DMart bear cuts its price target, earnings estimates as discounts rise
Brokerage firm Goldman Sachs has cut its price target on Avenue Supermarts Ltd., the parent of hypermarket chain DMart, while maintaining its “sell” recommendation on the stock.
The price target on Avenue Supermarts has been cut to ₹3,425 from ₹4,000 earlier by Goldman Sachs. The revised price target implies a further downside potential of 10% from Tuesday’s closing levels.Shares of Avenue Supermarts have already corrected by 30% from their recent record high level of ₹5,484.
Goldman Sachs believes that D-Mart’s competitive moat is facing increasing pressure and the store chain is resorting to increasing price discounts in order to maintain its competitive advantage.
#Techtalks
YouTube auto dubbing feature now available for more creators: Here’s how it works
YouTube has now made auto dubbing available to hundreds of thousands of channels in the YouTube Partner Program that are focused on knowledge and information and will expand to other types of content soon, the platform said in a blog post on December 10. YouTube first introduced its AI-powered auto-dubbing tool at Vidcon last year, which was only being tested with a limited group of creators. This tool could help make content on the platform more accessible and easier to understand for people all over the world.
As the auto-dubbing tool becomes accessible to more people, here is how it works
Google Maps expands free access worldwide, including $6,800 monthly credits for Indian developers
Google Maps Platform, On Monday (December 9), announced that developers will now have free access to its products, including Maps, Routes, Places, and Environment APIs and SDKs.This move is particularly helpful for Indian developers to build more, who will have access to $6,800 (over ₹5.7 lakh) worth of free monthly usage of these products.
This replaces the current fixed $200 monthly credit and includes access to APIs such as Maps, Routes, Places, and Environment. Developers will only incur costs if they exceed the free usage limits. Popular products like the Maps Embed API and Maps SDK will continue to be free without restrictions.
#DailyData
#personalfinance
How HNIs are maximising returns with mutual funds
High-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) are constantly exploring ways to diversify their portfolios and manage risk while aiming for higher returns. Mutual funds have become an essential component in achieving this delicate balance, even as these wealthier investors traditionally favoured more complex investment vehicles like hedge funds and private equity.
Nisreen Mamaji, CFO and Founder of MoneyWorks, explains the stark differences in investment strategies between HNIs, UHNIs, and retail investors.“Ultra HNIs and HNIs often hold portfolios that are more complex and customised, including assets like hedge funds, private equity, and global diversification strategies. These portfolios are designed to navigate market volatility, reflecting their higher risk tolerance,” she says.
#Expertedge
Delhi Assembly Polls: Can the BJP reverse the trend as AAP prepares for a fourth consecutive term
Elections to the Delhi Legislative Assembly are scheduled to be held in February 2025, in which the dominant Aam Aadmi Party (AAP) will go all out to secure a mandate from the over 1.53 crore voters to retain its right to remain in the government.
In about a year after its formation in 2012, the AAP rode into office. Since then the party consolidated its position and expanded its base beyond Delhi, where it enjoyed support from the middle and lower-middle classes.
AAP created a perception of providing a citizen-friendly government that cares for the poor and those living on the margins with its flagship welfare schemes. AAP projects affordable health care through its Mohalla (locality) Clinic; improved infrastructure and learning outcomes in government schools; subsidised water and power as major benefits derived by the denizens.
#Startupsworld
Zepto HR head Martin Dinesh Gomez quits; CEO Aadit Palicha takes over function
Martin Dinesh Gomez, the chief human resource officer (CHRO) at quick commerce startup Zepto, has stepped down and will leave the company soon, people aware of the developments told Moneycontrol. Gomez joined Zepto less than a year ago after spending over 11 years at e-commerce major Amazon.
“Martin is currently serving his notice period and will leave Zepto in a few weeks. In the interim, Aadit Palicha (co-founder and CEO) is handling HR operations and is involved with the hiring and other related tasks,” one of the persons cited above told Moneycontrol.
While CEO Palicha is handling some of Gomez’s tasks, Zepto’s Chandan Mendiratta will head the other human resource (HR) functions. Mendiratta, who joined in January this year, was the company’s chief brand officer and has also been made the Chief Culture Officer, Moneycontrol has learnt.
#podcasts
We’ll see you tomorrow with another edition of 11:11
