In India, 40% of the food wasted is equivalent to nearly 92,000 crore/year.This is equivalent to nearly 1% of the GDP which is depleted in the form of food wastage in India. Each person in India wastes 55 kg of food per year as per UN Environment Programme’s report
In India, 40% of the food wasted is equivalent to nearly 92,000 crore/year.This is equivalent to nearly 1% of the GDP which is depleted in the form of food wastage in India. Each person in India wastes 55 kg of food per year as per UN Environment Programme’s report
BY CSE EXAM ( UPSC prelims mains) CAPF
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Telegram hopes to raise $1bn with a convertible bond private placement
The super secure UAE-based Telegram messenger service, developed by Russian-born software icon Pavel Durov, is looking to raise $1bn through a bond placement to a limited number of investors from Russia, Europe, Asia and the Middle East, the Kommersant daily reported citing unnamed sources on February 18, 2021.The issue reportedly comprises exchange bonds that could be converted into equity in the messaging service that is currently 100% owned by Durov and his brother Nikolai.Kommersant reports that the price of the conversion would be at a 10% discount to a potential IPO should it happen within five years.The minimum bond placement is said to be set at $50mn, but could be lowered to $10mn. Five-year bonds could carry an annual coupon of 7-8%.
However, analysts are positive on the stock now. “We have seen a huge downside movement in the stock due to the central electricity regulatory commission’s (CERC) order that seems to be negative from 2014-15 onwards but we cannot take a linear negative view on the stock and further downside movement on the stock is unlikely. Currently stock is underpriced. Investors can bet on it for a longer horizon," said Vivek Gupta, director research at CapitalVia Global Research.
