New Source Of Funding For Start-ups

Rs1 crore

What is it? The minimum paid-up capital required for start-ups to list their shares in the Bombay Stock Exchange. Paid-up capital is the money put in by company’s founders and investors.

Why is it important? This is substantially lower than Rs10 crore post-issue paid-up capital required to list a company’s shares at both the Bombay Stock Exchange and the National Stock Exchange. The move could open up alternate funding for start ups at early stage where they are dependent entirely on venture capitalists.

Tell me more: Start-ups wanting to list should have positive net worth (that is their value of assets should be higher than value of liabilities) for last three years, as compared to normal requirement of profitability for last three years.

 

 1,690

What is it? The list of defaulters who haven’t yet paid the penalty imposed by the market regulator, the Securities and Exchange Board of India (SEBI).

Why is it important? The defaulters list has reduced by 129 in the last 50 days. Public listing of defaulters has served two purposes: one, it has put pressure on defaulters to clear the dues. Two, the public would know the names of people or entities which are yet to pay penalties imposed by the SEBI.

Tell me more: The range of penalties imposed varies between Rs10,000 to Rs10 crore, and the earliest default case dates back to December 1998.

 

6.85 lakh 

What is it? The number of new subscribers who have enrolled under the Employees’ Provident Fund (EPF) Scheme in April this year. EPF is a social security scheme where both employers and employees contribute 12% of basic pay and house rent allowance.

Why is it important? This number is treated as proxy for new jobs created in the organized sector, while other attribute this to formalization of the economy after the Goods and Services Tax were introduced. New subscribers under the Employees’ State Insurance Scheme, another social security scheme, was 1.01 million in April 2018. EPF applies to companies with more than 20 employees, while ESIC is for firms with more than 10 employees.

Tell me more: EPF data between September 2017 and March 2018 was revised downwards to 3.4 million as compared to earlier estimate of 3.9 million. No reasons were provided by the Statistics ministry.

 

132,263

What is it? The increase in Spain’s population in 2017 to 46.66 million, according to the country’s National Statistics Institute.

Why is it important? The increase is due to influx of migrants – around half a million last year – the highest in a decade. The net increase in migration was estimated at 146,604. Spain’s death rate outpaced birth rate at the fastest pace since 1941 when the records began.

Tell me more: Leaders from 16 European Union states met in Brussels last Sunday to find a consensus on migrants, but they failed to reach a solution. Latest UN data shows only 50,000 migrants have reached EU across the sea this year, but it remains a top concern in many countries.

 

$100 million

What is it? The amount of credit India would offer to Seychelles to purchase defence hardware equipment.

Why is it important? This is one of the 6 agreements signed between India and the island nation during the ongoing visit of Seychelles President Danny Antoine. The issue of proposed Indian military base in Island of Assumption was discussed, and both sides agreed to ‘work for the welfare of each other’.

Tell me more: The national assembly of Seychelles did not ratify an earlier agreement signed between the two countries to set-up military base in Island of Assumption. The statement released after the meeting of Prime Minister Narendra Modi and Danny Antoine was silent on how the military base issue will be tackled.

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Swiggy_logo

A New Unicorn

$210 million

What is it? The amount India’s largest online food ordering startup Swiggy said it has raised from a set of investors, led by Naspers and DST Global.

Why is it important? With this, the total amount raised by the startup is $465.5 million and it has achieved the status of unicorn (privately-held companies valued above $1 billion), only the second one after Zomato in the food technology space. The funds, which would be used to improve its supply chain network and expand into new markets, would help it to better compete with Zomato and new entrants such as UberEats and Ola’s Foodpanda.

Tell me more: The new investors in this deal include DST Global and Coatue Management, who joined existing ones, Naspers and Meituan Dianping.

2

What is it? The time provided to announce the price band of an initial public offering (IPO), according to the Securities and Exchange Board of India (SEBI), from the earlier five days’ duration.

Why is it important? The markets regulator announced some measures on Thursday, especially related to IPOs and share buybacks, with the aim of reducing redundancies and simplifying language. The other changes include harmonisation of shareholding limits across market infrastructure institutions, auditor disclosures to be in line with Kotak committee recommendations and mandatory auditor disclosures effective from April.

Tell me more: SEBI said it has begun initiating action against entities and individuals in the case where National Stock Exchange officials had allegedly provided high-frequency traders unfair access to co-location servers at the exchange site.

1 million 

What is it? The amount in barrels per day by which countries belonging to the Organisation of the Petroleum Exporting Countries (Opec) and its allies are likely to increase production of crude oil.

Why is it important? The group meets on Friday in Vienna for its biannual meeting, which will decide output policy. The meeting is happening in the backdrop of calls from major consumers like US, China and India to increase production, which would lower prices. Iran, the third-largest producer in Opec and which saw new sanctions from the US in May, is opposed to the deal.

Tell me more: Since last year, OPEC and its allies have cut output by 1.8 million barrels per day. In the past 18 months, crude prices have increased from $42 a barrel to about $70 in the past year.

Rs 75-80 crore

What is it?The amount that the white water rafting industry earns from this activity in Uttarakhand.

Why is it important?On Thursday, this was temporarily in peril after the Uttarakhand High Court released its order in a case banning paragliding, white water rafting and other water sports until the administration put in place a policy to regulate them across the state. It gave the state two weeks to draft a policy.

Tell me more: Besides environmental violations and excesses, the rafting industry in Uttarakhand has also been rocked by deaths in recent years.

6

What is it? The number of World Cup matches that talismanic Argentinian footballer Lionel Messi has failed to score in now.

Why is it important? On Thursday, Croatia made Argentina pay for defensive lapses, and beat them 3-0 in group match in the 2018 world cup to leave them on the brink of elimination. Argentina now have only 1 point from two matches, and will need a big win in their last match against Nigeria, and some help from other results.

Tell me more: France on Thursday qualified for the round of 16, beating Peru 1-0.

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Donald_J._Trump_at_Marriott_Marquis_NYC_September_7th_2016_04

“nothing but lies and deceit”

As Donald Trump and Pakistan ushered in new year, the latter got reprimanded by the leader of the world’s most powerful economy in his first tweet of 2018. Trump said that Pakistan had given them “nothing but lies and deceit”, as he laid out in his tweet, the quantum of funds US has given to Pakistan in last 15 years. Well, that’s some way to ring in the new year.

For more news in numbers, read on.

 

Rs 68,826 crore

What is it? The total amount raised by Indian firms via the initial public offering (IPO) route in 2017, according to Prime Database.

Why is it important? This is the highest amount raised through this route so far, indicating increased buoyancy in the Indian equity markets. This is likely to continue in 2018: 15 companies have Sebi (Securities and Exchange Board of India) approval to raise Rs 12,000 crore; another 10 companies, looking to raise Rs 19,000 crore, are awaiting regulatory consent; and more filings are expected in the near future.

Tell me more: According to SBI’s research report Ecowrap, the heightened IPO activity could spur credit growth in some sectors—as seen in previous years—even though there is no direct relation between the two.

 

119.2 million

What is it? The number of shares that Bandhan Bank is looking to offer to the public via its proposed initial public offering (IPO).

Why is it important? On Monday, the bank said it had filed a Draft Red Herring Prospectus (DRHP) with capital market regulator Sebi. Back in June 2015, Bandhan, which was then India’s largest microfinance company, was one of the two entities to receive a banking licence, the other being IDFC. Going public within three years, a statutory requirement, will mark another milestone in Bandhan’s transformation from a giver of small loans to a full-fledged bank.

Tell me more: The proposed Bandhan IPO will consist of a fresh issue of up to 97.6 million shares and an offer for sale of 21.6 million shares. As of September 30, 2017, the Kolkata-headquartered bank had 864 bank branches and 386 ATMs, and current account and savings account deposits of Rs 7,170 crore.

 

6.8%

What is it? The rate at which India’s infrastructure output grew in November from a year ago.

Why is it important? This is the fastest in 13 months, which suggests a possible revival in Indian industrial production. The growth in eight core industries, which account for 40% of industrial production, is likely to boost India’s factory output (as measured by the Index of Industrial Production), which had slowed to a three-month low of 2.2% in October.

Tell me more: The growth in infrastructure output in October was led by double-digit growth in steel and cement. The eight core sectors cumulatively grew 3.9% between April and October of 2017-18, lower than the 4.9% growth in the same period a year ago.

 

$33 billion

What is it? The total aid the United States has given Pakistan over the last 15 years, according to a tweet by US President Donald Trump yesterday.

Why is it important? In a strongly-worded tweet, which is also his first in 2018, Trump accused Pakistan of harbouring terrorists and said it had given them “nothing but lies and deceit”. The US is reportedly considering withholding $255 million in aid to Pakistan to express its displeasure over the latter’s alleged role in abetting terrorism. This is likely to boost India’s efforts in isolating Pakistan, whom it has blamed for sponsoring terrorism.

Tell me more: Minister of state Jitendra Singh tweeted that the American stance on Pakistan has vindicated India’s stand on terror.

 

61

What is it? The number of seasons that Vidarbha have played the Ranji Trophy, the premier competition in Indian domestic cricket.

Why is it important? On Monday, playing their first Ranji final, unfancied Vidarbha trounced Delhi by nine wickets to win their first title. Only two teams have taken longer to win their first title: Gujarat (83 seasons) and Uttar Pradesh (72 seasons).

Tell me more: Vidarbha’s win was scripted by a young squad mentored by a team of Ranji veterans, including 39-year-old opening batsman Wasim Jaffer, who won eight titles with Mumbai, coach Chandrakant Pandit and bowling coach Subroto Banerjee.

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Pyongyang’s sanctioned trade

$3 billion

What is it? North Korea’s annual export revenue.

Why is it important? This is likely to be cut by a third due to the new sanctions imposed by the United Nations for its intercontinental ballistic missile testing in July. The resolution against North Korea represents the “strongest sanctions ever imposed in response to a ballistic missile test”. These sanctions are to cut off Pyongyang’s money supply and prevent it from further developing its outlawed missile expansion program.

Tell me more: It was a unanimous decision of the UN Security Council with 15 votes in favour that targets North Korea’s primary exports including coal, iron, iron ore, lead, lead ore and seafood.

 

10 days

What is it? The number of days spent by Congress MLAs (member of legislative assembly) from Gujarat at a hotel resort near Bengaluru, ahead of the Rajya Sabha elections.

Why is it important? The forty-four MLAs returned to their home state after being flown away to Bengaluru to prevent them from either quitting or defecting ahead of the Rajya Sabha elections in Gujarat on Tuesday.

Tell me more: At stake is the fifth re-election of Congress head, Sonia Gandhi’s political secretary, Ahmed Patel to the Rajya Sabha from Gujarat. The MLAs were again whisked away to another resort in in Anand, near Ahmedabad on return.

 

2 lakh-tonne

What is it? The quantity at which the Indian government has capped the import of arhar dal (split pigeon pea).

Why is it important? This comes at a time when farmers are demanding a better price for arhar dal following a record production of 22.4 million tonne of pulses in 2016-17 and 4.6 million tonne of arhar dal (record) in the same year. The prices of arhar dal shot up to Rs 200 per kg last year, following which the government imported 30 lakh tonnes of pulses, of which 20 lakh tonne are lying in its warehouses.

Tell me more: India is not only the biggest producer but also, the largest consumer and importer of pulses.

 

116

What is it? The number of sexual harassment complaints reported in IT software and services company, Wipro, in the year 2016.

Why is it important? This was the highest number of such complaints with a listed company in the latest reporting year (FY17, according to Sebi guidelines), of which 102 were resolved. The numbers increased last year compared to previous years, and not just for Wipro. While Wipro’s went up from 111 in 2015 (with 107 solved), Infosys’ went up from 62 in FY16 to 88 in FY17 (77 resolved), and TCS’ cases went up from 34 to 65 (with 61 resolved) in that time.

Tell me more: The Securities and Exchange Board of India had made it mandatory for listed company to disclose the number of complaints and their pendency at the end of the financial year in their annual reports.

 

56

What is it? The number of employees in United Spirits who received above Rs 1 crore in salary in FY17.

Why is it important? This could be an attempt by Diageo, which has majority stake in United Spirits, to professionalise the management by attracting talent in an industry affected by multiple factors — alcohol ban in Bihar, demonetisation and the Supreme Court banning alcohol sale along the national highways. The number of crorepatis is more than even some tier-I IT companies such as Infosys (51).

Tell me more: Diageo completed buying controlling stake of 55% in the company in 2014.

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