The IPO bidding will take place at a price range of ₹72-76 per share. The firm's estimated valuation at the upper end of the pricing band is $4 billion, which is less than the $7-8 billion valuation it was aiming for a few months ago.
The single-day wipeout, following the announcement in the Union Budget, is being touted as the sixth-largest wealth depreciation ever observed across the world.
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Three employment-linked schemes were announced in the union budget as part of the Prime Minister’s package. These schemes will be based on enrollment in Employees' Provident Fund Organization (EPFO), focus on recognition of first-time employees, and support to employees and employers.
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Taking to X, the PM wrote, “The Economic Survey highlights the prevailing strengths of our economy and also showcases the outcomes of the various reforms our Government has brought."
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The projection in the Economic Survey is a tad lower than the Reserve Bank's growth estimates of 7.2%. However, major global agencies, including the International Monetary Fund (IMF) and Asian Development Bank, have projected the growth at 7%.
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Three component suppliers of Tesla and other automakers recently visited Gujarat, while two European suppliers are looking to expand operations in Tamil Nadu.
Byju Raveendran, the visionary behind the renowned edutech giant, Byju’s, is on the brink of losing his managerial grip on the company he established in 2011. Once valued at $22 billion in 2022, Byju’s has faced a series of financial setbacks, causing its valuation to plummet to below $200 million.
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