Month: February 2025

One 97 Communications, parent company of Paytm, shares gained 5.2 per cent on Monday, logging an intraday high at Rs 782.8 per share on BSE. The northward rally in the stock came after the company arm Paytm Cloud Technologies’ board approved an investment of $1 million (Rs 8.7 crore) in Seven Technology LLC. 

Around 12:06 PM, Paytm share price was up 4.41 per cent at Rs 776.4 per share on BSE. In comparison, the BSE Sensex was down 0.67 per cent at 76,988.21. The market capitalisation of the company stood at Rs 49,497.9 crore. The 52-week high of the stock was at Rs 1,063 per share and the 52-week low was at Rs 310 per share. 

Paytm Cloud Technologies will acquire a 25 per cent stake in  Seven Technology LLC with the $1 million investment.  

“We have been informed by Paytm Cloud Technologies Limited, our wholly-owned subsidiary, that the Board of Directors of PCTL at its meeting held on February 3, 2025 and concluded at 08:15 a.m. (IST) has approved an investment of $1 million (equivalent to Rs 8.70 crore) in Seven Technology LLC incorporated in Delaware for the acquisition of a 25 per cent stake and execution of transaction documents in this regard,” the filing read. 

Seven Technology LLC is the parent company of Dinie Correspondente Bancário e Meios de Pagamento Ltda. (“Dinie”), Brazil-based API-first embedded finance start-up. Dinie enables digital/ e-commerce platforms to provide digital financial services solutions to micro, small, and medium-sized enterprises (MSMEs) in Brazil. Post-consummation of the transaction, Seven Technology LLC and Dinie will become associate entities of the company. 

The company believes technology-led merchant payments and financial services distribution business model in India, has the potential for expansion in similar international markets. 

This latest investment in an overseas market comes weeks after Paytm sold its stake in a Japanese company for $250 million.

One97 Communications Singapore approved the sale of Stock Acquisition Rights (SARs) held in Japan-based PayPay Corporation last year. Paytm’s Singapore unit acquired these SARs in September 2020. 

In the past one year, Paytm shares have 69 per cent against Sensex’s rise of 8 per cent. 

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The basis of allotment for Dr Agarwal’s Health Care and Infra Solutions IPO shares is likely to be finalised today, Monday, February 3, 2025. The public offering closed for subscription on Friday, January 31, 2025, receiving muted participation from investors and getting oversubscribed by 1.55 times. 

Once the Dr Agarwal’s Health Care IPO allotment is finalised, investors can check their status on the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue.

Dr Agarwal’s Health Care IPO final subscription status

Rs 220.50 crore public offering of Dr Agarwal’s Health Care, offered at a price band of Rs 279-294 with a lot size of 50 shares, received bids for 8,32,18,380 shares against the 5,35,26,172 shares offered, resulting in an oversubscription of 1.55 times by the end of the subscription period, as per data available on the NSE.

Dr Agarwal’s Health Care IPO witnessed the highest demand from Qualified Institutional Buyers (QIBs), who subscribed to 4.64 times the quota reserved for them. This was followed by Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs), who bid for 0.41 times and 0.40 times, respectively. 

Dr Agarwal’s Health Care IPO grey market premium (GMP) today

In the grey market, the premium for Dr Agarwal’s Health Care unlisted shares dropped on Monday. The company’s shares were trading at around Rs 402.5 apiece, reflecting a grey market premium (GMP) of merely Rs 0.5 or 0.12 per cent over the upper end of the issue price. Dr Agarwal’s Health Care IPO GMP today is lower than the Rs 12 recorded yesterday when the issue opened for subscription, according to sources tracking grey market activities.

The current GMP trends indicate a lackluster listing for Dr Agarwal’s Health Care shares, scheduled to debut on the BSE and NSE on Wednesday, February 5, 2025. However, these estimates may vary, as the grey market is unregulated, and GMP should not be considered a reliable indicator of performance. 

Dr Agarwal’s Health Care

Dr Agarwal’s Health Care, incorporated in 2010, provides comprehensive eye care services. The company operates 193 facilities across India, employing around 737 doctors as of September 30, 2024. Its services include cataract and refractive surgeries, consultations, and optical products. Dr Agarwal’s Health Care has a presence in 117 cities across 14 states and four union territories.

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Flagship cryptocurrency, Bitcoin, which scaled a record high on optimism fueled by Donald Trump’s return to the White House as the 47th US President, tumbled sharply on Monday, February 3, 2025, as investors fretted over the economic impact of Trump’s recent tariff announcements. Notably, Trump has signed executive orders imposing new tariffs, including 25 per cent on Canada and Mexico, and 10 per cent on China. 

The trade policies, analysts said, could fuel volatility across risk assets, including cryptocurrencies. 

“The crypto market had a strong reaction to Trump imposing import tariffs on goods amid rising inflation concerns. After Bitcoin recorded its first monthly close above $100,000 in January 2025, it is now consolidating between $91,200 and $94,800,” said Edul Patel, CEO and co-founder of Mudrex, a crypto exchange platform.

Bitcoin dropped nearly 7 per cent in the last 24 hours. As of 10:50 AM on Monday, February 3, Bitcoin was trading at around $93,434.78 on Binance.com, down 6.42 per cent from the previous day. Bitcoin’s 24-hour trading volume stood at $92.71 billion. The world’s most popular cryptocurrency’s all-time high remains $109,114.88. 

The impact of the sell-off extended to other cryptocurrencies. Ethereum was down 20 per cent, trading at approximately $24,468. Binance Coin (BNB) slipped 16 per cent to $545, while XRP tumbled 24 per cent to $2.15. Solana also faced selling pressure, declining 8.62 per cent to $190.46. These price movements are based on data from Binance.com.

Going ahead, analysts caution that the reactions of other nations, particularly the UK and BRICS countries, will further shape market volatility. Investors, they added, should remain cautious as additional tariffs may drive Bitcoin lower before it resumes its upward momentum. 

Sumit Gupta, co-founder of CoinDCX, meanwhile, believes such measures can introduce significant volatility in the near-term. However, the broader future of crypto, including Bitcoin, must be considered through a long-term lens, he added. 

“Geopolitical shifts like the ones unfolding now create an environment where traditional markets may experience heightened instability, driving investors to seek alternative assets,” Sumit Gupta of CoinDCX said.

This is particularly true as the US dollar strengthens and international trade dynamics shift. While the current tariffs are straining China’s export-driven economy, they may also accelerate global interest in decentralised assets like crypto, which act as a hedge against inflation and market unpredictability, he added. 

In times of economic uncertainty such as during past US-China trade conflicts, analysts believe digital assets gained traction as a store of value, much like gold did in previous crises. For investors, the key takeaway is that crypto, with its ability to act as a non-correlated asset, may become increasingly attractive as global macroeconomic trends unfold, they said.

“However, given the volatility, it is important for investors to be cautious, conduct thorough due diligence, and take a long-term perspective,” Gupta said. 

Going ahead, in the near-term, Edul Patel of Mudrex expects Bitcoin to see a low of $89,000 before resuming its upward momentum.

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