Metro Brands IPO received a tepid response from the investors despite ace investor Rakesh Jhunjhunwala name tagged with the brand. In 3-day bidding, the public issue worth ₹1,367.51 crores got subscribed 3.64 times. Shares of Metro Brands fail to impress the grey market as well. Metro Brands shares are trading at a premium of ₹22 in the grey market today, according to market observers.

The International Monetary Fund has asked for a “comprehensive, consistent and coordinated” approach to global digital currency regulations. Three IMF officials believe the cross-border and cross-sector nature of digital currencies renders national regulatory approaches ineffective. Financial regulators across countries are actively working on crypto regulations.

✍Today, the board approved a fundraise of up to ₹1,500 crore through issuance of securities. Also a change in the name of the company from ‘Burger King India Limited’ to ‘Restaurant Brands Asia Limited’. Will be implemented pursuant to confirmation & reservation by the Registrar of Companies, MCA and subject to necessary approvals. At 11:35, shares were trading 1% ⬆️ at ₹157.70 on the BSE.

📜The Cryptocurrency Bill is not on the agenda at December 15 Cabinet Meet. Sources suggested that the much-awaited Bill may not be taken up by Parliament during the ongoing winter session that concludes on December 23. 📢Minister Pankaj Chaudhary stated that a "bill on cryptocurrency and regulation of official digital currency is under finalisation for consideration of the cabinet”.

British drugmaker GlaxoSmithKline and its French partner Sanofi stated on Wednesday that a single booster dose of their recombinant adjuvanted COVID-19 vaccine candidate delivered consistently strong immune responses. Sanofi is hoping for a comeback after falling behind rivals in the race for COVID-19 shots with a vaccine candidate based on the more conventional protein-based approach.

Since Oct 20, the Bitcoin dominance rate has been decreasing after reaching a high of 47.72%. Since its origin, it followed a descending resistance line. This led to a low of 39.95% on Dec 9. The low was made very close to the long-term 39.50% support area. On Dec 12 the dominance rate bounced back. If it continues to increase, the main resistance area would be found at 44%.

Plum, the employee health insurance startup, has collaborated with Razorpay Rize to offer exclusive group health benefits to early-stage startups. Plum intends to cover over 1,00,000 new businesses and entrepreneurs. The company offers a simplified purchase and setup process for health insurance and benefits for all startup members of Razorpay Rize.

The rupee weakened further by 9 paise to end at 74.71 against the US currency on Thursday, falling for the third day in a row, as weaker domestic equities weighed on the forex market sentiment. At the interbank foreign exchange market, the rupee opened weak at 74.75 per dollar. It hovered in a range of 74.84 to 74.65 during the session before ending at 74.71 against the greenback.

According to Motilal Oswal's 26th Annual Wealth Creation Study, Mukesh Ambani-led Reliance Industries has emerged as the biggest wealth creator. Adani Transmission is the fastest and Adani Enterprises is the most consistent wealth creator. Adani Transmission has emerged as the fastest wealth creator over 2016-21, compounding wealth at a compounded annual growth rate of 93 per cent.

SMS Lifesciences India executed a share purchase agreement and a share-subscription agreement with Chemworth Inc. USA, strategic investor and associates on Monday. As per the agreements, SMS Lifesciences will divest up to 10 per cent shareholding in Mahi Drugs and raise fresh equity in the company through the private placement route. The shares of the company gained after the news.

For the second time in a year, Prestige Group has teamed up with co-working space provider Awfis to add 12 new centres spread across an area of 5 lakh sq. ft to its property portfolio with an investment of Rs 110 crore. The partnership intends to cater to the growing demand for co-working spaces and startups that are looking to adopt hybrid/ agile workplace models, amidst the new normal.

Shares of Trent, a Tata group company, rose after the group was looking to “reclaim ground in the beauty business it exited 23 years ago”. The group had exited the space after selling Lakme to Unilever Plc in 1998. The retail vertical of the Tata group is known for its brands' Westside, Star Bazaar and Landmark. The market currently stands at $30 billion for Trent.

1️⃣ICICI Mutual Fund launched on Jun 21, collected ₹9,808 cr, the highest-ever NFO collection for any open-end equity scheme. 2️⃣NJ MF (NJ Wealth) collected ₹5,216 cr. 3️⃣ICICI Business Cycle Fund; ₹4,185 cr, the largest business cycle fund in the industry. 4️⃣Kotak Multicap fund; ₹3,510 cr, the highest-ever NFO collection for Kotak MF. 5️⃣Kotak MF launched a multicap fund; collected ₹3,510 cr.

Ram Info Ltd announced that its Board of Directors with the help of a virtual presentation has discussed the diversification strategy through organic & inorganic methods. To align the present business model with the diversification strategy, the Board reviewed the verticals of Energy, Agri-Logistic & Healthcare verticals & concluded geographical expansion and capacity building.

German sportswear brand Adidas on Wednesday announced the unveiling of its shopping app in India. The app will offer the brand's latest sneaker drops, seasonal apparel releases and gear. It will also remain equipped with a live chat option and AR try-on. The app will lead the majority of the future drops such as Yeezy, Pharrell Williams and exclusive collaborations with Lego and Disney.