UPI transactions crossed the $100 billion mark▶

upi crosses 100 bn mark

Nykaa IPO subscribed 82 times, IPO of Policybazaar subscribed 53%, Funding Deals & more.

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Value of UPI transactions crosses $100 billion in October

The value of transactions made using the Unified Payments Interface (UPI) crossed $100 billion in a month for the first time in October, data from the National Payments Corporation of India (NPCI) showed. This further cements UPI’s position as India’s most popular digital payments system by far.

The spurt in October was largely due to increased demand for online shopping amid the festive season and the gradual reopening of the economy since the ebbing of the second wave.

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A whopping 4.2 billion UPI transactions amounting to Rs 7.71 lakh crore (about $103 billion) were conducted in the month, marking all-time highs on both counts for the five-year-old payments channel.

In September, UPI had registered 3.6 billion transactions worth Rs 6.5 lakh crore. This means the number of transactions jumped 15% and the value of transactions rose 18.5% in October.

The number and value of UPI transactions have more than doubled since this time last year.

Nykaa’s Rs 5,300-crore IPO sees strong interest; subscribed 82x

The Rs 5,300-crore initial public offering (IPO) of FSN E-Commerce Ventures, which operates Nykaa, saw strong investor interest and was subscribed 82.4 times on Monday, the concluding day of the issue.

It received 2.16 billion bids for the 21.2 million shares, excluding the anchor portion, that were on offer.

nykaa ipo riseshine.in

This is the second-biggest IPO since that of food delivery start-up Zomato’s, the first by an Indian unicorn. Zomato drew bids worth Rs 2 trillion and it was subscribed more than 38 times.

FSN E-Commerce Ventures had set a price band of Rs 1,085-1,125 apiece for its IPO, which comprised a fresh issue of Rs 630 crore and an offer for sale (OFS) of Rs 4,722 crore.

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Policybazaar parent’s IPO 53% subscribed on day one

The Rs 5,710-crore IPO of PB Fintech, parent firm of Policybazaarwas subscribed 53% on the first day of bidding today, receiving bids for 1.83 crore of the 3.45 crore shares on offer.

The retail investor’s portion was fully subscribed on day one, while the portion set aside for non-institutional investors was subscribed 6%. The qualified institutional buyer’s segment subscribed 56%.

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Policybazaar’s IPO comprises a fresh issue of shares worth Rs 3,750 crore and an offer for sale of Rs 1,960 crore by existing shareholders. It has set a price band of Rs 940-Rs 980 a share and is looking to list at a valuation of $6.15 billion. The IPO will close on Wednesday.

The SoftBank-backed startup raised more than Rs 2,569 crore from 155 anchor investors on Friday. These included leading insurance firms such as HDFC Life, ICICI Prudential, Bajaj Allianz Life, SBI General Insurance and Max Life Insurance.

Tweet of the day🐥

💚 GST collection in October crosses ₹1.3 lakh crore, second-highest ever

🎲 ‘SQUID’ crypto a sham, plummets almost 99.99% in value within seconds

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