Newsletter | One Nation One Election Bill likely to be tabled; MobiKwik shares may list at 60% premium & more – CNBC TV18
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Shares of One MobiKwik Systems Ltd., parent company of the fintech platform MobiKwik are set to list at a substantial premium to their IPO price on Wednesday, December 18.
The company finalised the share allotment for eligible bidders on Monday, December 16. You can read more on that here. MobiKwik’s three-day Initial Public Offering was subscribed nearly 120 times. Investors placed bids for 141.72 crore shares, compared to the 1.18 crore shares on offer. The IPO ended up with bids worth over ₹39,500 crore, while the plan was to raise ₹572 crore through the issue.MobiKwik had fixed the IPO price band between ₹265 – ₹279 per share.
Carraro India IPO price band set at ₹668 – ₹704 per share — More details here
Auto parts manufacturer Carraro India Ltd. has set the price band for its upcoming Initial Public Offering (IPO) between ₹668 – ₹704 per share.
The IPO opens for subscription on Friday, December 20 and closes next Tuesday, December 24.Carraro India’s parent company, Carraro International S.E. will get all the proceeds of the ₹1,250 crore issue, as the entire IPO is an Offer For Sale (OFS).Carraro India will not get any proceeds from the issue.Investors bidding for the issue can apply for one lot of 21 shares and in multiples thereafter, which will entail a minimum investment of ₹14,784.
One Nation One Election bill likely to be introduced in Lok Sabha
The government is likely to introduce the two key bills related to its ambitious “One Nation, One Election” initiative in the Lok Sabha on Tuesday, December 16. According to sources, the bills will be tabled around noon.
Union Law Minister Arjun Ram Meghwal was expected to present the Constitution (129th Amendment) Bill and the Union Territories Laws (Amendment) Bill in the Lok Sabha on Monday, however the government deferred the introduction of the bills.On December 12, the Union Cabinet chaired by Prime Minister Narendra Modi approved the constitutional amendment bill, which aims to implement simultaneous Lok Sabha and state assembly elections. The decision was based on recommendations made by a high-level committee led by former president Ram Nath Kovind.
#TechTalks
Google names Preeti Lobana as Country Manager, VP for India
Tech giant Google on Monday announced the appointment of Preeti Lobana as the new country manager and vice president for India.
She succeeds Sanjay Gupta, who recently transitioned to an elevated role as President of the Asia Pacific region at Google. As the new Country Manager and Vice President for India, Lobana will play a key role in shaping Google’s strategy to bring the transformative power of Artificial Intelligence (AI) to all customers, fostering innovation, a Google release said.”A seasoned Googler with eight years of experience as Vice President of customer-centric solutions, Preeti will now spearhead Google India’s sales and operations, driving the company’s commitment to India’s burgeoning digital economy,” according to the release.
Indian-origin OpenAI whistleblower Suchir Balaji’s final social media post goes viral after death
26-year-old Indian-American whistleblower Suchir Balaji, who raised concerns about OpenAI’s generative AI practices, was found dead in his San Francisco apartment on November 26. The San Francisco Medical Examiner’s Office confirmed the cause of death as suicide, with no evidence of foul play found, according to local police.
Balaji, who left OpenAI earlier this year, had been vocal about his concerns regarding the ethical and legal implications of generative AI tools like ChatGPT. He had criticised the company for allegedly violating copyright laws by training its models on large datasets without proper consent or attribution, leading to potential replacements for existing online services.
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#personalfinance
How ULIPs combine insurance and wealth creation in one plan
A ULIP or Unit Linked Insurance Plans are financial products that combine the benefits of insurance and investment. By investing in such plans, you safeguard yourself and your family with life insurance and the money is also invested in market-linked funds. These funds are managed and invested in asset classes like equity and debt.
The ULIP also provides flexibility in terms of premium payments and fund allocation that allows you to customise your plan as per your financial objectives and risk tolerance. Usually, these plans have a five-year lock-in period.
How does ULIP combine insurance and investment?
ULIPs combine insurance and investment by allocating a portion of premiums to life insurance coverage, assuring financial security for the policyholder’s family, and the rest is invested in chosen funds for wealth creation.
Unclaimed and outstanding LIC claims surge 83% in 5 years: FinMin
Unclaimed and outstanding maturity claims with Life Insurance Corporation (LIC) have risen by 83% in the last five years, the Ministry of Finance (FinMin) reported in Parliament. The claims jumped from ₹480.78 crore in FY19-20 to ₹880.93 crore in FY23-24.
However, LIC has reported a positive trend in unclaimed death claims.These claims have declined sharply, from 89 in 2019, valued at ₹2.02 crore, to just 10 claims in 2023. The unclaimed and outstanding maturity claims figures over the years are as follows:
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- ₹652 crore in FY21-22
- ₹897 crore in FY22-23
- ₹815 crore in FY23-24
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#StartupsWorld
How Noise defied odds in a competitive consumer tech market
Noise is not just another consumer tech company—it’s a story of bold decisions and entrepreneurial grit. Founded a decade ago by cousins Gaurav and Amit Khatri, Noise stands out for three key reasons. First, the duo ventured into the fiercely competitive world of consumer technology. Second, they chose to bootstrap the business, avoiding the conventional route of venture capital funding. Third, they’ve successfully navigated a space often dominated by commoditisation. In an exclusive conversation with CNBC-TV18, the co-founders shared insights into their journey, the challenges they’ve faced, and their vision for the future.
Bridging the AI knowledge gap — how startups can foster AI literacy in India
In the age of AI, literacy is evolving. It is no longer confined to the three R’s—reading, writing, and arithmetic, but now encompasses a new dimension — the ability to navigate and utilise AI and generative AI tools. AI is a massive productivity and efficiency enabler in organisations and can be an enabler of inclusion and education in society, especially in a country as vast and diverse as India. Fostering AI literacy is paramount to ensuring that the benefits of this technological revolution are accessible to 1.4 billion Indians.
AI literacy goes beyond knowing how to use a smartphone or browse the internet. It involves understanding the capabilities and limitations of AI, the ethical implications of its use, and how to interact with AI tools effectively. As AI becomes increasingly integrated into various aspects of life—from healthcare to education, and from agriculture to entertainment—being AI literate will be as essential as traditional literacy.
We’ll see you tomorrow with another 11:11
