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New Subscription Rules By RBI, SEBI For IPO To Hit HNIs, See Grey Market Vanish
Come April 1, 2022, the IPO market will witness three major changes that will immensely benefit retail investors. First, as per RBI stipulation, investors cannot borrow over Rs 1 crore from NBFCs to apply for an IPO. Second, SEBI has split the current HNI category into two. The first part, 1/3 of the bucket size of HNI portion, is for Rs 2-10 lakh and, the second bucket size of Rs 10 lakh and above  is for HNI-Non-Institutional Investors. Third: change in lock-in period for anchor investors from current 30 days in two bucket groups: 50% shares will have 30-day lock-in and balance 50% for 90 days. Clearly, institutional investors are uncomfortable with the 90-day lock-in with good reason. The last three months saw all new age companies losing around 50% values since their listing. Allotment for HNI category, in case of oversubscription, would be similar to the retail category with one lot per applicant.  For example, in the Rs 2 lakh plus category it would be just Rs 2 lakh. Similarly, it would be Rs 10 lakh in the Rs 10 lakh plus category. The new rules will see unrealistic over subscriptions by over 200-300 times disappear to more realistic levels in turn, making grey markets vanish. It will also force promoters to price IPOs more realistically.
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Maharashtra Rationalist Group Sought Chitra Ramkrishna's Arrest Under ASBMA For Appointing 'Himalayan Guru' As NSE COO
A little-read news piece got buried in the avalanche of revelations on Chitra Ramkrishna, her shenanigans at the National Stock Exchange and more. The interesting news has lost relevance now thanks to the identity disclosure of Ramkrishna’s ‘Himalayan Guru’ – Anand Subramaniam — her right-hand man at the NSE.  A couple of days before the bombshell caused a blast, the Maharashtra Andhashraddha Nirmoolan Samiti (superstition eradication committee), founded by the late rationalist Dr Narendra Dabholkar, had submitted a memorandum to the Central Bureau of Investigation (CBI), also Mumbai Police seeking the arrest of the NSE’s former CEO and MD under the Anti- Superstition and Black Magic Act. Pointing out that Subramanian’s appointment as the exchange’s COO in 2013 had cost the NSE Rs 5 crore, the Samiti said the entire case was an embarrassment for India, as a highly-educated person like Ramkrishna took advice from a self-proclaimed guru. “MANS has brought it to the notice of CBI and Police Commissioner Mumbai that according to the Act it is an offence to claim divine powers and deceive people on the basis of it,” the organisation had said. “The current case is a clear incidence of a person holding important public office working under the influence of superstitious beliefs and hence doing harm to the greater public good hence we have decided to take up this issue.”
Ashton agar
Fake Insta Post Warns Aussie Cricketer Ashton Agar’s Partner Against Pak Tour On Pain Of Death As Pak Rigs Up 4000 Strong Force
A fake Instagram post, its origins possibly in India, threatened Australian cricketer Ashton Agar with a message to his partner. It is believed the post was aimed at scaring the Australian cricket team that is touring Pakistan after 24 years and which is scheduled to hold its first practice session on Wednesday (March 2). The social media message was assessed as not credible. The post – “Your children will miss their Father if he comes to Pakistan. Our snipers will blow his head” — was clearly wrong as Agar and his partner have no children. Security agencies analysed it and assured the Aussies that there was nothing to fear. Having lost the New Zealand tourists on the day of their first scheduled international match last year, the Pakistan security establishment will put in place a 4,000 strong police cordon around the Aussies for the 3-Test, 3-ODIs and one T20I series. Pakistan-born Australian Test batsman Usman Khwaja brings a unique flavour to the tour as he visits his country of birth and where he has relatives. But the tour bio-bubble rules are so strict that he may not get to meet them. A successful tour for Australia, known to be very fussy about security in Asia, may generate hope in Pakistan that Team India also travel there soon.
Students_Ukraine
OpGanga: Modi Misses Sushma Swaraj’s Humane Outreach Rushes Four Ministers To Ukraine Neighbourhood
One former colleague Prime Minister Narendra Modi clearly misses, while handling the outpouring of parental pressure of over 15,000 students stranded in war-torn Ukraine, is the late Sushma Swaraj, former External Affairs Minister. Swaraj became known for introducing a humane touch in the ministry and, directly communicating with people via Twitter. At various times of crisis in the Gulf region, whether the hostage crisis in Iraq or, evacuation of Indian nationals from war-torn Yemen, Swaraj was visibly active. Her famous tweet “Even if you are stuck on Mars, the Indian Embassy there will help you,” remains etched in public memory. This time around, to assure parents about the wellbeing and safe return of their children, Modi instructed four ministers to supervise the evacuations from Ukraine’s neighbourhood. Civil Aviation Minister Jyotiraditya Scindia will be based in Romania & Moldova, Law Minister Kiren Rijiju in Slovakia, Oil Minister Hardeep Singh Puri in Hungary while Minister of State Gen VK Singh is stationed in Poland. The MEA’s new twitter handle @opganga stays connected to stranded students. In a major setback to India, Naveen Shekharappa, a fourth-year medical student at the Kharkiv National Medical University, hailing from Karnataka was shot by the Russian army in Kharkiv while he was in a queue to buy groceries. Meanwhile, PM Modi called on the IAF to join evacuation efforts; the IAF is expected to deploy its several C-17 aircrafts as part of OpGanga.  
gangubai kathiawadi
Alia Bhatt’s Big Ticket Gangubai Kathiawadi Arrival, Gets Established Divas In A Twist
Those who questioned Alia Bhatt’s calibre to play Gangubai Kathiawadi have been forced to eat their own words and, Kangana Ranaut tops the list. The actress had said she didn’t expect the movie mafia’s film to do well. While Kangana taking pot-shots against top actors, to increase her social media influencer reach is plain to see, even those within Bollywood were unsure if the woman-centric film would do well at the box office and, with Alia in the lead role. In fact, only a handful of women-centric films have managed to get good numbers at the box office. Gangubai Kathiawadi has surprised everybody. Trade experts say that film is getting a good draw and business could have been 20% more had cinemas opened to 100% capacity. While there is no comparison between Alia and Deepika Padukone has been made, although the self-proclaimed Queen of Bollywood thinks so, there is little doubt that Alia has arrived which may be giving heebie-jeebies to the established likes of Deepika. Twenty-nine-year-old Alia, who debuted as a child artiste, got her first big break in Karan Johar’s Student Of The Year. Avid cinema goers were impressed by her performance in Raazi, Gully Boy and, Highway just to name a few.  
Shreyas Iyer_twitter
Shreyas Iyer’s Distinct Play Cut Sri Lanka Down To Size, Even Without Virat, KL, Surya and Pant By His Side
Shreyas Iyer carved a niche for himself in the three match Twenty20 series against Sri Lanka. Without his individual stroke making ability, India may not have found it easy against the Emerald nation that flew from Australia where it lost a series 1-4. Sri Lanka has been trying to rebuild its team after the retirement of its top guns Muthiah Muralitharan, Chaminda Vasa, Mahela Jayawardena and Kumar Sangakkara. So it was no surprise that it was beaten hollow in the Twenty20 internationals, with Shreyas knocking off 204 runs off 117 balls with unconquered scores of 57, 74 and 73 and scoring at 10.46 an over. An impressive batter raised in the tough environs of Mumbai’s highly competitive maidan cricket, Iyer has positioned himself for a middle order slot in the Indian team in all formats. Recently he made a Test century on debut against New Zealand at Kanpur and followed it up with a half century in the second innings. Injuries have kept him out of a few series, but he has been the bright spark whenever he has returned. Virat Kohli, KL Rahul, Suryakumar Yadav and Rishabh Pant were absent from the series against Sri Lanka and Iyer grabbed his chances with both hands and demanded a place in the playing XI in the future series.
OERC_Optcl_Tata_opgc
Naveen Patnaik’s Subtle ‘No Tariff Hike’ Request, Has OERC Doing Balancing Act
The Odisha Electricity Regulatory Commission (OERC), currently hearing the annual revenue requirement to fix bulk supply price for 2022-23, was subtly asked by the state government to disallow tariff hikes sought by power utilities.  The popular Naveen Patnaik government has told OERC to find a win-win solution for all stakeholders. “The balancing act of finding a solution without consumer tariff hikes is the prerogative of OERC, which is doable,” an industry expert says. The rationale for “no power tariff hikes”: The Four Tata Power DISCOMs in Odisha especially, TPWODL posted excellent results for the nine-month period in the current financial year. Their performances contributed to a total of Rs 600 crore regulatory surpluses.  In the regulatory framework, DISCOMs are permitted pass through of reasonable expenses and only 16% return on equity (RoE) and hence, the possibility to adjust the Rs 600 crore revenue surplus of Tata DISCOMs suitably while accommodating pass through of genuine expenses of GRIDCO, OPTCL and other state generation companies (OHPC & OPGC) with no increase in retail tariffs for consumers in 2022-23.  The quality of power supply and consumer services in the State are expected to improve with capital investment of Rs 2000 Cr by the Odisha Government over the next 2-3 years.
namak haram
Now Trending In UP, “Tumne Namak Khaya, Namak Harami Na Karna”
After the first two phases of elections in Uttar Pradesh concluded the BJP heaved a sigh of relief. Unlike the dire predictions of a decimation for the party in western UP, both phases went off smoothly for the party with internal surveys indicating a much better than expected performance too. The two phases also featured the Mainpuri and Karal assembly seats from where SP Chief Akhilesh Yadav contested. Notwithstanding, the scheduled rallies for the remainder of the UP poll tour, Modi switched his focus on the Punjab poll challenge, a well-placed source revealed. “The first two phases were consciously scheduled to cover the difficult political terrain where BJP feared anti-incumbency. This did not happen and the remainder phases encompass BJP strongholds. We may fall shy of the 2017 mark but are winning the UP polls,” the source said. Meanwhile, a trending poll slogan reverberated in the remaining phases, “Tumne Namak Khaya Hain, Namak Harami Na Karna” (You have had the salt of this government, do not betray us now). Simply put, in the remaining phases where BJP seeks to consolidate its traditional votebanks in Eastern and Northern UP, the free rations, DBT cash transfers and other benefits are being leveraged to hold sway over voters. The BJP denies it started the new trending story though terming it a people’s calling.
Harish rawat_twitter_002
Former Uttarakhand CM Harish Rawat Holds Luncheon, Claims Majority Wins For Congress, Eyes CM's Post Again
Long before the bookies predicted a Congress win in the Uttarakhand state assemblies, former party CM Harish Rawat threw a celebratory lunch. The select few present witnessed Rawat’s claim on Congress winning the elections with a tally of 48 from the 70 assembly seats.  Oddly, there were few believers in his party over his predictions, most convinced it was Rawat’s ploy to prop himself up for CM if the Congress party won. “It is going to be a very close call in as many as 15 seats. The election can simply go either way,” said a senior Uttarakhand Congress leader. Rawat was very upset as he was not projected as the CM face and so, claiming a decisive win while staking his claim to the top office. Rahul Gandhi is learnt to be backing CLP leader Pritam Singh. As for the BJP, which is banking on PM Narendra Modi’s charisma to be voted back to power, the party admits that the organisational network in the hill state is a treacherous terrain. Even as Pushkar Singh Dhami instilled some hope among the party cadre, many seniors including former CMs worked overtime to defeat the BJP. Even for the Congress, the return of ex-party leaders like Harak Rawat into the party-fold has not proved to be a smooth affair.

TRENDS & VIEWS

Editor’s Note: Big Punch In Small Pack

It is the Third Anniversary of Short Post and as a news media startup launched during the Covid-19 pandemic it certainly feels better than good to find ourselves where we are today. Here, I must cite the unstinted support of our seasoned contributors, all senior editors in the country, who brought a great degree of maturity and sagacity to the Short Post newsroom. But for them, our tagline “Authentic Gossip”, an Oxymoron, would not have matured viably. Our user numbers may be small but our stories have created the desired impact among people who matter — decision makers and influencers. We offer a big punch in a small pack and Short Post with its 225-word stories has been punching above its weight category. Having posted close to 3,000 stories in the last 36 months, Short Post, I feel, is an idea whose time has come.
And this is vindicated by our two marquee advertisers – IDFC FIRST Bank and ICICI Lombard. Both believed in our story and have supported us from Day one. A big thank you to both.
If you look at the media landscape – print, TV and digital — it is a mixed bag. There are job losses as some outfits have closed down while a lucky few were bailed out by large corporate houses. Yes, there is a lot of action in the digital space. However, the entry of corporate houses has raised the question of independence of news media outfits. Sadly, there are just a handful of independent media outfits in the country that are highly respected for their neutrality. At Short Post, our credo is not to take sides, prejudge issues or be biased but, informing readers of behind-the-scenes happenings. In essence, Short Post strives to be a neutral editorial platform — neither anti-establishment nor pro-establishment.
As I said last year, disruptions in the media world are moving at a fast and furious pace. Technology is playing a very big role in how content is generated and consumed. But, we are neither alarmed nor perturbed as it is all a part of the evolution process. What gives us comfort is that AI is unable to create original gossipy content. And that is the news arena where we have achieved a distinction.