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According to the report, PhonePe plans to go public once its core businesses turn profitable, which it hopes to achieve by 2023. The report also mentioned that PhonePe, part of the Walmart-controlled Flipkart group, will soon engage with bankers and legal consultants to take forward the IPO process.

While one NBFC-MFI is looking to raise capital by way of the initial public offer, others will sell shares mostly on a private placement basis, people tracking the sector said.Fusion Micro Finance’s proposed IPO consists of a fresh issue of shares worth Rs 600 crore.

According to a number of leading crypto exchanges, including CoinDCX, CoinSwitch, WazirX, Unocoin, Mudrex and Giotuss, slashing of staff count is not on their checklist, despite the severe turmoil in the cryptos and economy.

The company will list on Indian stock exchanges as opposed to many startups that prefer to incorporate overseas, primarily Singapore or the US, chasing relatively friendlier tax laws and business regulations there.

“I tweeted a year-and-a-half or two years ago, when the building started coming up and I put up a picture of the building and I said silencing my critics because everybody said these guys will never be able to make the building. Not only have we made the building, but we are delivering the Thane project two years ahead of our commitment and that has built a very strong brand for us.”

“Nifty valuations tend to hide some things. Some overvalued companies are there in the Nifty and at the same time there are some undervalued companies as well. But on an overall basis, we are in the reasonable zone right now. The valuations look very very reasonable and it may be the time to start nibbling and adding over a period of time.”

Analysts said the index has been respecting its support of 15,671 on a closing basis and as long as it keeps respecting that, chances of some bounce cannot be ruled out. They see support shifting to 15,400-300 levels, if the level is breached.

The National Highway Authority of India (NHAI) had awarded 4,788 km and 6,306 km of projects in FY21 and FY22, respectively, surpassing its targets for these years. In FY23, it is estimated that highway projects of 5,500 km would be awarded by NHAI.

Silver also gained Rs 304 to Rs 60,016 per kg from Rs 59,712 per kg in the previous trade.In the international market, gold was trading higher at USD 1,820 per ounce and silver was trading flat at USD 21.35 per ounce.

“We are doing greenfield projects but to grow faster and to stay ahead of the market, it really makes sense to invest in existing businesses that are doing well in different spaces within the gaming space. We are planning to invest and acquire many more gaming studios in India and outside of India, to scale up our premium business rapidly in this year and next. ”