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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Paytm IPO in November? SEBI gives go ahead to the nation’s biggest initial public offering

Paytm parent One97 Communications has received the approval of the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). This will be the biggest initial public offering (IPO) in the nation’s corporate history of Rs 16,600 crore

One97 Communications after this is allowed to launch a Rs 16,600 crore offering after incorporating the observations that SEBI has made in its draft red herring prospectus (DRHP). The company is likely to list its shares on the BSE and the NSE by mid-November.

To recall, the largest IPO, so far, was from Coal India, which raised Rs 15,000 crore over a decade ago.

The Paytm IPO will be a major event considering the size of the offering and the company’s standing in the country’s fintech ecosystem. The company is reportedly looking to raise 8,300 crores by issuing fresh stock and roughly the same amount in an offer for sale that will see some investors offload shares.

Multiple new age internet firms have either listed on the stock exchanges or have initiated proceedings to do so. Zomato Ltd back in July listed on the Bombay Stock Exchange (BSE) and on the National Stock Exchange (NSE), Freshworks Inc was recently listed on Nasdaq. Apart from these, Nykaa will launch its IPO on October 28. PolicyBazaar, MobiKwik, Pine Labs and Delhivery are currently getting ready to launch their respective IPOs.

According to ET, One97 Communications is looking to gain a valuation of $20-22 billion in the IPO. To recall, the company was valued at $16 billion when it last raised funds two years ago. The current lineup of investors include Ant Group, Alibaba, Elevation Capital and SoftBank Vision Fund.

Reports suggest that Canada’s CPPIB, US-based asset manager Alkeon Capital, Morgan Stanley and Goldman Sachs are looking to join as investors in Paytm’s anchor investment and IPO.

The post Paytm IPO in November? SEBI gives go ahead to the nation’s biggest initial public offering appeared first on BGR India.



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