Airtel Payments Bank contemplates IPO

Airtel Payments Bank contemplates IPO

Hello reader,

It seems that October is not the month of WhatsApp.

The Meta-owned social messaging giant suffered one of its longest outages of around two hours yesterday as many of us rushed to use other social messaging services. In the same month last year, WhatsApp, along with Facebook and Instagram, suffered a six-hour outage after a major DNS failure.

Not good news for Google either.

The Competition Commission of India (CCI) imposed the technological giant with another penalty—drilling a hole worth Rs 936 crore— for abusing its dominant position regarding its Play Store policies. This comes just days after he was fined Rs 1,337 crore for anti-competitive practices.

The darkness continued in the stock markets, with the beauty giant nykaa— one of the last public companies in India’s startup ecosystem to hold strong on stocks — seeing its shares drop below the IPO issue price before the end of the lock-in period for anchor investors .

ICYMI: Sri Lanka could soon be home to South Asia’s first Disneyland. The $18 billion investment will be a boon to the country’s economy.

In today’s newsletter, we will talk about

  • Airtel Payments Bank contemplates IPO
  • Turning brass into designer jewelry
  • become an entrepreneur

Here is your trivia for today: Which city in the world is located on two continents?


financial technology

Airtel Payments Bank contemplates IPO

Airtel Payments Bank (APB), the fintech arm of telecoms giant Bharti Airtel, will begin the process of recruiting outside investors, CEO and CEO Anubrata Biswas said, as part of a larger plan to eventually spin off the company. subsidiary as a separate entity and reach the public markets.

During an interview with Your historyThe CEO said the board has been clear about its plans to spin off the subsidiary as a separate entity in the future.

Key takeaways:

  • Currently, Bharti Airtel Limited and Bharti Enterprises Limited have a 70:30 partnership in APB.
  • The fintech subsidiary was the first of 11 players (only six are operational now) to receive a payments bank license from the Reserve Bank of India, in 2016.
  • Turning profitable in the September quarter of FY22, the payment bank currently has an annualized revenue of Rs 1,000 crore and is looking to post double-digit momentum in the fiscal year.

Start up

Turning brass into designer jewelry

Picture this. Handmade earrings made from brass from a car, necklaces made from scrap construction equipment, and rings carved from ancient musical instruments.

This is what Gurugram-based brand Aulerth is doing: creating a range of traditional and contemporary jewelery made from recycled brass to reduce the carbon footprint of jewellery.

Fine jewelry in store:

  • Founder Vivek Ramabhadran believes that luxury is not about embracing excess, but about being considerate and caring for the environment.
  • He sources brass from junkyards, automobiles, construction equipment, musical instruments, etc., and gives it a “second life” by treating and reusing it in designer jewelry.
  • He has partnered with Indian designers: Suneet Varma, JJ Valaya, Shivan and Naresh, and Tribe Amrapali.

Entrepreneurship

become an entrepreneur

Kausalya Shankar, a survivor of the horrific 2016 honor killing case in Tamil Nadu, continues to speak out against caste-based violence.

Kausalya recently left her government job to become a businesswoman. She opened a Zha beauty salon in Velallur, Coimbatore, opened by actor Parvathy Thiruvothu a month ago.

Standing on your feet:

  • After completing a “beautician course,” Kausalya took out a bank loan, pledged her jewelry, and borrowed money from a friend to start Zha.
  • His fight against honor killings is ongoing. She says that she is encouraged that there is more awareness and that conversations are taking place, but that she still has some way to go.
  • Kausalya uses all available forums and arenas to talk about honor killings and believes that these cases need awareness at all levels, including among the police.

news update

  • Slide back: Apple Inc is cutting production of the iPhone 14 Plus and increasing production of the iPhone 14 Pro due to low demand, market research firm TrendForce said. This could lead to a 14% year-over-year drop in production to 52 million units.
  • slippery slope: Shares of US-listed Chinese companies fell sharply after President Xi Jinping was elected to serve an unprecedented third term. The Invesco Golden Dragon China ETF plunged 14.5% to hit its lowest level since 2009.
  • Dark days ahead: International Energy Agency (IEA) Director Faith Birol said the world was in the midst of “the first truly global energy crisis” amid the Ukraine conflict and a possible uptick in fuel demand from China.

What you should keep in mind

  • Smartphone and accessory maker Nothing will launch a True Wireless earphones called Nothing Ear (Stick) on Myntra.
  • Satcom Industry Association India will host a three-day Indian Space Congress in Delhi.

Which city in the world is located on two continents?

Answer: Istanbul. It is the largest city in Turkey and straddles the Bosphorus Strait, both in Europe and Asia.


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