Financial Consultant

  CarTrade Tech gets SEBI approval for Rs 2,000 crore IPO | Avaneesh Parasar The issue is a complete offer for the sale of 12,354,811 equity shares by investors and other selling shareholders, CarTrade Tech said. It would not be wrong to say that this year is the year of IPOs, first Zomato, Paytm, Patanjali, and Now Car Trade, everyone is doing a public listing of their company,  Avaneesh Parasar  said. Online auto classifieds platform CarTrade Tech has received regulatory approval from the Securities and Exchange Board of India (SEBI) to float Rs 2,000 crore via the initial public offering (IPO) route. “The issue is a complete offer for   sale of 12,354,811 equity shares by Investor and Other Selling Shareholders. There will be no funds received by the company via this initial public offering,” stated a statement issued by the company on July 26. Notably, CarTrade Tech had filed its draft red herring prospectus (DRHP) with SEBI on May 15, 2021. The upcoming IPO has ...

  Zomato market cap breaches Rs 1 lakh crore after stellar D-Street listing- Avaneesh Parasar Zomato scripted history on Friday by becoming India’s first unicorn to debut on the stock exchanges. The scrip got listed at Rs 115 on BSE, a 51.32 per cent premium to the issue price of Rs 76. On NSE, the stock made a debut at Rs 116, up 52.63 per cent. With its mega listing, Zomato entered the elite club of Top 100 listed companies in value terms, with a market capitalisation of over Rs 1 lakh crore. At issue price, its market cap stood nearly at Rs 65,000 crore; 100th member’s current m-cap is Rs 44,685.37 crore. Zomato Th e  Rs 9,375 crore issue had received bids for Rs 2.13 lakh crore worth shares which were the third-highest in Indian capital history. The listing was advanced to Friday. Given the strong demand for the issue, analysts were largely expecting the IPO to list at a 25–30 per cent premium. A leading online food aggregator, Zomato offers a platform for connecting consu...

  Dogecoin Investor Glauber Contessoto Continuing to Buy Crypto | Avaneesh Parasar Contessoto said he has bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakh).  Avaneesh Parasar Bitcoin, Dogecoin, and other popular cryptocurrencies may have lost a considerable part of their value in the market volatility that’s been going on for a few months, not many early-bird investors seem worried. In fact, some are even advocating to “buy the dip,” believing the market has bottomed out and it can only bounce back from here. Among them is a 33-year-old resident from Los Angeles, Glauber Contessoto, who claimed in April that he became a Dogecoin millionaire in “just 69 days.” Contessoto recently said he has bought more Dogecoins worth $5,300 (roughly Rs 3.94 lakhs). “Pra c tice what you preach,” he said. Dogecoin  hit 16 cents (roughly Rs 11.90) Tuesday morning before recovering to 17 cents (roughly Rs. 12.66), when  Contessoto  bought the dip. At the time of writing,...

  How to buy Google, Apple shares in India | Avaneesh Parasar To a large extent our digital lives have been taken over by technology companies. From Apple,  Amazon , Facebook to Netflix to the ubiquitous search engine  Google , we are slowly getting hooked on to their products and services all across the country. But, as an investor in the Indian stock market, have you ever given a thought to owning the shares of these global giants? “Global leaders such as Facebook, Go o gle, Netflix, Apple, etc. have users across the world, including India. As a customer of a company that’s doing well, there’s a natural urge to want to include them in your portfolio, and benefit from their growth,” says Prateek Mehta, Co-Founder and Chief Business Officer, Scripbox. In fact, there are innumerable international brands that we use in India but not all could be listed on NSE or BSE. Surely, the thought of investing in international companies must have crossed your mind, but the ways and me...

  Zomato share allotment status: Here’s how to check it | Avaneesh Parasar Investors are eagerly waiting for India’s first startup unicorn listing, whose share allotment is likely to be finalised by Thursday. Last heard, unlisted shares of Zomato were commanding a Rs 16.75–17.25 premium in the grey market up from Rs 10 they was commanding just ahead of the issue.  Avaneesh Parasar The bumper Rs 2.13 lakh crore worth of bids put up for Zomato’s initial public offering (IPO), the third-highest in Indian capital market history, have pushed the grey market premium of the stock higher, and so is investor excitement. Investors a r e eagerly waiting India’s first startup unicorn listing, whose share allotment is likely to be finalised by Thursday. The stock market will be shut on Wednesday on account of Bakri Id. Last heard, unlisted shares of Zomato were commanding a Rs 16.75–17.25 premium in the grey market up from Rs 10 they was commanding just ahead of the issue. Most brokerages ...

  The Bull Market won’t vanish, says Jhunjhunwala | Avaneesh Parasar Jhunjhunwala, who entered the market at the peak of a ferocious bull market in Indian stocks in 1991–92 before it came crashing down, said he doesn’t see the scope for a similar correction in the near term. Avaneesh Parasar Jhunjhunwala, who entered the market at the peak of a ferocious bull market in Indian stocks in 1991–92 before it came crashing down, said he doesn’t see the scope for a similar correction in the near term. The 1992 bull market is  c onsidered to be the most ferocious in Indian capital market history, but it petered away as quickly as it had started due to the Harshad Mehta scam that shook up the India’s financial markets to its core. “Majority of India is questioning (this market), and not participating… I only see doubts even as the market is at all-time high. There is no celebration,” the veteran investor said at an event organised by Motilal Oswal Asset Management. Indian equities have...

  Reliance Retail buys Just Dial for Rs 5,710 crore | Avaneesh Parasar Reliance Retail said on Friday it has acquired a controlling stake in 25-year-old Indian search and discovery firm Just Dial for $469 million. Avaneesh Parasar The Indian retail giant, which leads the market, said it has acquired a 41% stake in the publicly listed Just Dial for $469 million and will make an open offer to acquire an additional 26% stake later. VSS Mani, founder and chief executive of Just Dial, will continue his leadership role at the firm, both the companies said in a joint press release. Just Dial of f ers local search and e-commerce services through its website, mobile apps and telephone line. Users in India can inquire about local plumbers, details for hotels and housekeeping services among other things by just dialing 8888888888. The decades-old firm — which prior to entering the public markets raised about $102 million from Tiger Global, Elevation Capital, Sequoia Capital India, Sapphire Ve...

  Paytm files draft paper for ₹16,600 crore IPO | Avaneesh Parasar Paytm’s IPO is what India’s IPO market is looking forward to as Zomato’s IPO closed on Friday, Something big is going to come, just hold your wallet for a big investment - Avaneesh Parasar Paytm IPO comprises fresh issue of up to ₹8,300 crore, offer for sale of up to ₹8,300 crore(REUTERS) Digital payment startup Paytm has filed a draft prospectus for its initial public offering of ₹16,600 crore on Friday the day on which Zomato’s IPO closes. As per the draft prospectus, JPMorgan Chase, Morgan Stanley, ICICI Securities, Goldman Sachs, Axis Capital, Citi and HDFC Bank are among the lead book-running managers for Paytm IPO, Reuters reported Paytm IPO co m prises fresh issue of up to ₹8,300 crore, offer for sale of up to ₹8,300 crore. One97 Communications Ltd, the owner of Paytm, which filed the draft on Friday, said the proceeds of the IPO will be used to “strengthen its payment ecosystem and for new business initiativ...

  Zomato is raising $1.3 billion in India’s biggest IPO of the year | Avaneesh Parasar Zomato, which is an online restaurant aggregator and food delivery service, reported revenue of Rs 2,486 crore in FY20 and its loss widened to Rs 2,451 crore, Zomato targets $1.3 billion IPO at as high as $8.6 billion valuations,  Avaneesh Parasar Food delivery startup Zomato is looking to raise some $1.3 billion this week in an initial public offering in Mumbai, the company said in a  recent regulatory filing . It expects to close its books on Friday, and is the biggest offering in the country so far in 2021,  according to Dealogic . The comp a ny plans to sell shares priced between 72 and 76 rupees (97 cents to $1.02) per share. At the upper end of the range, Zomato would be valued at almost $8 billion. Investors are closely watching the offering, which will give some insight into the market’s appetite for Indian startups. The country has a ton of tech   unicorns — companies...

  Beware! Your love for Elon Musk and Dogecoin may land you in a scam | Avaneesh Parasar Suspicious domain registrations for cryptocurrency coins and exchanges have peaked over the last few months, with Dogecoin outpacing the next nearest coin, Ethereum, by 35 times in suspected fraudulent listings. Do your own research before stepping into any Cryptocurrency trade. Avaneesh Parasar MUMBAI: Even though the ongoing bear phase in the cryptocurrency market has knocked the stuffing out of some investors, there is no denying that investors still see the asset class as the quickest way to make money in financial markets. That zeal to becom e  a hot shot investor within a short period of time contributed to the frenzy for Dogecoin, a coin that was borne out of a joke but came to prominence due to backing from Tesla founder and billionaire Elon Musk. However, the craze for the ‘memecoin’, as some like to call it, may be making investors more susceptible to cryptocurrency scams than an...

  Cryptocurrency Bill Set For Monsoon Session | Avaneesh Parasar The government is likely to present the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 in Parliament during the Monsoon session that begins on July 19. Avaneesh Parasar -Financial Advisor-Stock Trader Union Finance Minister Nirmala Sitharaman earlier this week said that they have done a lot of work on the bill and the Cabinet note is ready. She added that views, perspectives and feedback have been taken from stakeholders. “We have to see when the Cabinet can take it up and consider it so that then we can move it,”  she told The Hindu . The mi n ister also clarified that a window will be available for fintech, experiment and pilot projects but the final call will be taken by the Cabinet. Meanwhile, Union Parliamentary Affairs Minister Pralhad Joshi had earlier said that over 20 plus bills, including five ordinances, would be tabled during the Monsoon session. The  cryptocurrency bill ...

  Bitcoin Is Suddenly Braced For A $1.5 Billion July | Avaneesh Parasar Bitcoin and cryptocurrency prices struggled to find direction in June  after moving sharply lower through April and May . Currently, Bitcoin's price is 32000$ USD, according to my analysis Bitcoin will be worth more than 75000$ USD, Just buy a dip and HODL for a long. Avaneesh Parasar The bitcoin price, down almost 50% from its peak of around $65,000 per bitcoin set in April, has managed to hold above the closely-watched $30,000 level —  but has failed to make convincing gains . Now, with around $1 . 5 billion worth of shares in the Grayscale Bitcoin Trust (GBTC) hitting the market on July 18 —  something JPMorgan named as a downside risk for the bitcoin price  — researchers at U.S. crypto exchange Kraken have predicted the looming Grayscale unlock could be “positive for the bitcoin price.” Grayscale, the world’s largest digital asset fund manager with $24 billion under management, allows in...

  Cryptocurrency bill to be passed soon in India? Avaneesh Parasar The minister said, “From our side, I think one or two indications that I have given is that at least for fintech, experiment and pilot projects a window will be available” Avaneesh Parasar Nirmala Sitharaman talks about cryptocurrency bill Finance Minister Nirmala Sitharaman gave hints about the status of the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 during an interview. The Finance Minister said that the Cabinet note is ready for the bill but it is up to the Cabinet to take it up. “We have done a lot of work on it. We have taken stakeholders’ inputs. The Cabinet note is ready. We have to see when the Cabinet can take it up and consider it so that then we can move it,” she said in an interview to The Hindu last week. T h e minister said, “From our side, I think one or two indications that I have given is that at least for fintech, experiment and pilot projects a window will be available,”...