Top headlines: Paytm IPO subscribed 1.89 times; Nykaa makes stellar debut

Beauty startup surges to near $13-bn valuation in stock market debut

Shares of cosmetics-to-fashion platform made a blockbuster opening on Wednesday, valuing the Indian company at near $13 billion, in the latest startup listing after food delivery firm Zomato’s stellar debut in July.

Shares of FSN E-Commerce Ventures, the profit-making company that owns the brand, soared 89.2% to Rs 2,129 after opening at Rs 2,018 in pre-open trade. Read more

Paytm’s Rs 18,300-cr IPO gets subscribed 1.89 times on Day 3

Financial services firm Paytm’s initial public offering (IPO), worth Rs 18,300 crore, on Wednesday got fully subscribed on the third day of bidding.

As per data available on the BSE, IPO has been subscribed 1.89 times so far, with the qualified institutional buyers (QIBs) tranche being subscribed 2.79 times. Read more

Bank of Baroda Q2 net profit up 24% at Rs 2,088 cr, asset quality improves

Public sector lender Bank of Baroda on Wednesday reported 24% rise in standalone net profit at Rs 2,088 crore in the September quarter as against Rs 1,679 crore in year-ago period.

Net interest income rose 2% to Rs 7,566 crore as compared to Rs 7,508 crore in Q2FY21. Read more

Ideal time for Covid booster is 6 months after 2nd dose: MD

The ideal time for a booster dose for COVID-19 vaccine is six months after the second dose, Chairman and Managing Director Krishna Ella said on Wednesday, and also emphasised the importance of having a nasal vaccine.

He also pointed out that his company was the first in the world to develop a Zika vaccine. Read more

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