Moneycontrol PRO
Access insightful & curated financial content with Moneycontrol PRO at just Re. 1/- per day. Use code PRO365.
you are here: HomeNewsBusiness

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

MC Insider: Life after Paytm’s flop listing, IPO buzz, crypto tizzy, unusual travel deal and more

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

Last Updated: November 22, 2021 / 09:53 AM IST

CRYPTIC PR PITCHES

CRYPTIC PR PITCHES

The recent comments from RBI governor Shaktikanta Das on cryptocurrencies and the subsequent caution from the government on youth gambling in such instruments have clearly rattled the crypto lobby. Soon after these comments, one has seen a sharp spike in calls from PR executives to business journalists pitching for interviews and columns of "crypto experts" to explain the boons of the private virtual currency market. The timing of these calls is even more important as the government is right now in the middle of framing national laws to govern the crypto market. Obviously, the crypto traders and exchanges seek an image boost through these aggressive PR pitches, hoping eventually, for a favourable stance from policymakers.

NEW IPO ON CARDS

NEW IPO ON CARDS

One of the most eagerly awaited blockbuster IPOs from a key market intermediary that was embroiled in litigation earlier may finally get a nod from Sebi if street chatter is to be believed. The unlisted market has seen frenetic activity in the firm’s shares over the last year or so and there could be yet another trade lined up. We hear a leading foreign bank is gearing up to sell a large chunk. Since this player enjoys a near-monopoly status, we wonder if the final size of the IPO would come anywhere close to the being planned by the insurance behemoth.

GET, SET, GO!

GET, SET, GO!

Travel is back and how! A good indication came from the IndiGo management that decided to scrap its Rs 3,000-crore QIP plans on the back of buoyancy in the segment and better revenue visibility. Remember ‘Revenge Tourism’—a phrase that was bandied about a lot earlier. Well going by recent cues, we may see many travellers going down that path. And good times for the sector mean good times to raise funds, innit? A little birdie tells us that a prominent group may soon opt for the fund infusion route for its airports vertical.

PARTY POOPER OR NOT?

PARTY POOPER OR NOT?

India's startup funding party has received a rude jolt. We hear the dismal day 1 of the Paytm IPO has left many investors wondering whether the domestic startup scene is “overhyped” and there are whispers about the long list of unicorns created this year and if they were bereft of fundamentals. Hmm! Among other factors, the trading pattern of Paytm in the days to come may very well determine if these whispers grow louder or not.

DISTRESS SALES VS FUNDING BOOM

DISTRESS SALES VS FUNDING BOOM

Amid the recent startup funding craze, we have almost forgotten that there exists a parallel universe where companies don't get funded! But that's coming to the fore. Across sectors—mobility, SaaS, consumer brands—smaller brands are being forced to sell to larger rivals for a pittance only so that they can live to see another day. The bigger companies are able to raise funds even more easily, and acquire such distressed assets for low prices. Sounds like a bit of a monopoly at this point!

TRAVEL & DEAL DIARIES

TRAVEL & DEAL DIARIES

The whispers are rather strong on this one, folks! This well-known travel founder is in talks to invest in a media startup that has often written critical stories earlier about the said founder and his company. Buzz is that the founder concerned could take a double-digit stake, and grapevine suggests that the proposed deal may explain why the media company has been notoriously silent on the firm’s IPO plans. The story gets more interesting because a rival media firm had done a damning article about the founder’s company. How the tables turn!

SKELETONS KEEP TUMBLING

SKELETONS KEEP TUMBLING

The alleged involvement in a 2006 sex scandal has come back to haunt the Congress party’s J&K President Ghulam Ahmed Mir. About a dozen Congress leaders from the UT have submitted resignations from their posts to Sonia Gandhi questioning Mir’s leadership skills. The leaders, considered close to former chief minister Ghulam Nabi Azad, have also brought up Mir’s alleged involvement in the 2006 controversy, in which he was one of the accused, and later acquitted. Mir became J&K Congress chief in 2015 replacing party veteran and former minister Saifuddin Soz. “The decision (Mir’s appointment) was welcomed despite the fact that he was not carrying the desired reputation required for the coveted post in view of his involvement in 'famous' sex scandal of 2006,” the letter signed by the leaders read. Over to the Congress high command.

DEAL ON OR NOT?

DEAL ON OR NOT?

Despite firm denials, the street chatter just doesn’t seem to end regarding the apparent interest of this veteran investor in a private sector bank. The buzz has been that a preferential issue deal in the lender (which hasn’t had the best of times recently on the performance front) was on the cards. Well, guess we shall be in wait and watch mode for now!

LISTING LESSONS?

LISTING LESSONS?

What can u say when you grab a bull by its horns and later end up getting badly bruised by the bears? Lots of tongues are wagging post the shock market debut of this high-profile internet firm. We heard the bigger investors (a miffed lot post the value erosion) were apparently in no mood to come to the rescue when the stock had a free fall on listing day. A few of the advisors though were simply glad that an issue of this scale and size by an Indian company had gone through. There was also chatter about the extent of involvement of a certain “communications” person who allegedly took important calls. The blame game has clearly begun and there seem to be lots of lessons here for upcoming unicorn IPOs. Meanwhile, in response, the firm has released an update on its operating performance up to October, indicating more consumers and merchants and a higher frequency of transactions. Hmm….

Note to the Readers : Chances are you love a juicy story as much as we hacks do and you might have one to share. Please share the story in an email to MCInsider@nw18.com.

Also, spare a moment to tell us what you think of this series. Send your hosannas and howls to the same email address.

Sections
ISO 27001 - BSI Assurance Mark