Author: News Desk

https://youtu.be/Mbk_gfIly-0 The mega IPO of LIC will be out by the end of the current fiscal.Biggest IPO?According to a senior official,  the IPO plan is on course. The IPO is expected to become the biggest one in India. It may fetch the government around Rs 1 lakh crore. The government has taken several legislative and executive steps to pave way for the mega IPO.The LIC is a leading life insurer of India wholly owned by the government. It has three branches outside India – in the UK, Fiji and Mauritius.

https://youtu.be/9oCNlcoF2q0 India had a great year with 54 unicorns.Third highestOvertaking the UK, India became a nation with the third highest number of unicorns. The first on the list are the US and China. “India is in the middle of a startup boom,” said Anas Rahman Junaid, MD and Chief Researcher at Hurun India.Byju’s top unicornCountries with the most number of unicorns indicate a more dynamic economy. The most successful Indian unicorn is Byju’s valued at $21 billion. Byju’s, InMobi, OYO, Razorpay and Ola are among the top 100 unicorn.

https://youtu.be/90IrzTZ8FTI India is expecting semiconductor manufacturers to set up local factories in 2-3 years.Good responsePrime Minister Narendra Modi’s government is working on developing an entire ecosystem for the chip manufacturing industry and will start taking applications under the incentive schemes from January 1, 2022, Union Minister Ashwini Vaishnaw told Bloomberg.“The response has been very good. All the big players are in talks with Indian partners and many want to come directly to set up their units here. Almost all big ones are talking to us,” Vaishnaw said.Chip productionThe union government had approved sops worth Rs 76,000 crore rupees for chip production.…

https://youtu.be/TxhDDbFl9ME Snapdeal has filed preliminary documents for an initial public offering (IPO).IPO timeThe IPO comprises a fresh issue of equity shares worth up to Rs 1,250 crores. It also has an offer-for-sale of up to 30,769,600 equity shares by selling shareholders. Snapdeal’s founders Kunal Bahl and Rohit Bansal are not selling any of their holding in the IPO.The proceeds of the issue will be used to fund growth initiatives. Snapdeal is one of the top four online shopping destinations in terms of total app installations. More than 95 per cent of the products sold on Snapdeal are priced below Rs 1,000.

https://youtu.be/KN4EIRBeZvY Procter & Gamble Co has recalled some dry conditioner and shampoo sprays sold in the US and Canada.Benzene foundThe sudden move is due to the presence of a cancer-causing chemical P&G said it detected “unexpected levels” of benzene, a human carcinogen. Benzene can potentially cause cancer depending on the level and extent of exposure.The recall also includes products from its Aussie and Waterless brands made in the US. P&G did not disclose the number of recalled products, which were distributed. It said they represented less than 1% of its overall hair care product portfolio.

https://youtu.be/X7O5QYACwuI Royal Enfield has recalled 26,300 units of Classic 350 produced between September 1 and December 5. Potential Brake issueThe recall is a precautionary measure to tackle a potential brake issue. An exceptional higher braking load applied on the rear brake pedal could lead to potential damage to the reaction bracket.This could lead to unusual braking and deterioration of braking efficiency. Isolated oneThe issue has been isolated to the single-channel ABS, rear drum brake Classic 350 models. Issues like this can arise under specific, extreme riding conditions, the company said. Royal Enfield had recalled around 2,36,966 units of Classic, Bullet, Meteor models in…

https://youtu.be/BRZe0j80ARo Farmers Fresh Zone (FarmersFZ) has raised an investment from Yunus Social Business Fund. FarmersFZ bridges the gap between rural farmers and urban consumers. It provides healthy, premium-quality and pesticide-free vegetables.Social causePioneered by Nobel laureate Prof Muhammad Yunus, YSBFB’s joining FarmersFZ, which grew by 400 per cent during the pandemic period, is a boost to the startup’s efforts for a social cause and a recognition to its commitment, according to Pradeep P.S, Founder and CEO of FarmersFZ. “We will use the fund to facilitate the growth and infrastructure, which enhances our working model, and thus benefits our famer community and their…

https://youtu.be/EiryUhRRa0c The government has blocked 20 YouTube Channels, two websites for spreading anti-India propaganda.Anti-India propagandaThe Ministry of Information and Broadcasting has ordered the blocking. The channels belong to a coordinated disinformation network operating from Pakistan and spreading fake news about various sensitive subjects related to India.The channels were used to post divisive content in a coordinated manner on various topics. The channels had a combined subscriber base of over 35 lak. It had also posted content on issues such as the farmers’ protest.

https://youtu.be/QMoIJeO1QbM Fabindia will file draft documents for its IPO before the end of December to raise Rs 4,000 crore.The firm’s shareholders approved the IPO proposal at a general meeting.Big plansFabindia plans to raise Rs 250 crore in fresh capital to expand its store network. Several investors will sell part of their stakes as well, a media report said. This will bring the total size of the public offering to Rs 3,800-4,000 crore. Fabindia’s existing investors include PI Opportunities Fund, Bajaj Holdings and Investment Ltd. Fabindia has recently entered new product categories like home, lifestyle, personal care, and organic food.

https://youtu.be/I43eFZa_h9o The Woman Startup Summit organized by the Kerala Startup Mission opined that equality and financial assistance is inevitable to boost women entrepreneurship. The event held under the theme — Rise to equal, post-pandemic era — had discussions that saw 40 experts from various fields, including financial, technical and also entrepreneurs. Dr Usha Titus, Additional Skill Acquisition Programme MD, inaugurated the event. She said, there should not be a feeling that being a woman, concessions will be there, but should come up with services and new initiatives, which are useful to people. During the Women Entrepreneurs Networking Meet, Aishwarya Dongre IPS and…