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<keyword id="20104772" type="General" weightage="20" keywordseo="Hyundai-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors" meta.hostid="261" meta.entityid="Hyundai Motors">Hyundai Motors</keyword> India's IPO worth Rs 27,870 crore, the largest India has ever seen, got off to an unhurried start today, with 18% of the total offer subscribed on the first day. The IPO, which closes on October 17, has already attracted significant attention from retail and institutional investors. The issue was subscribed 0.27x in the retail category, 0.05x in the QIB (qualified institutional buyers) category and 0.13x in the NII (non institutional investors) category. <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">Retail investors</keyword> placed bids for 1.3 crore shares, as against the 4.94 crore shares which were offered to them. In contrast, Hyundai employees showed strong support for the IPO, bidding for 6,28,509 shares, as against the 7,78,400 shares allocated to them. Just a day before, Hyundai had raised Rs 8,315.3 crore from about 225 <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>. The list included several marquee global names, like the <keyword id="22882636" type="General" weightage="20" keywordseo="Government-of-Singapore" source="keywords" meta.keywordsubtype="org" meta.entityname="Government of Singapore" meta.hostid="261" meta.entityid="Government of Singapore">Government of Singapore</keyword>, New World Fund Inc, and the Canada Pension Plan Investment Board. These institutions, along with Fidelity, Government Pension Fund Global, and American Funds Insurance Series New World Fund, invested a combined Rs 2,191.66 crore in the company. Other notable participants in the anchor round included Vanguard, Blackrock, Goldman Sachs and JP Morgan. Hyundai Motor India allocated 4.2 crore equity shares to these anchor investors at Rs 1,960 per share. Also, 34.42% of the entire allocation to anchor investors went to 21 domestic mutual funds via 83 schemes. AMCs (asset management companies) like ICICI, Invesco, Kotak and UTI were part of this round. While the current IPO is entirely OFS (offer for sale), which means that no part of the proceeds will go to Hyundai Motor India, the company has announced that it plans to invest more than Rs 33,000 crore over the next 10 years in India. The country is an important market for the South Korean automobile giant, given that it is the 2nd largest OEM (original equipment manufacturer) in the passenger vehicle space in India. However, the market is already preparing for muted listing day gains, with the company's GMP dropping to Rs 59 today. Hyundai is estimated to list at Rs 2,019 per today's GMP, taking the expected gain/loss per share to a minuscule 3.01%, as per data from IPO site Chittorgarh.

India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

<ul><li>X has started testing a paid subscription program for all new users in two countries.</li><li>New users will have to pay a fee to be able to interact with other users.</li><li>Here’s everything you need to know about the Not a Bot program.</li></ul> <keyword id="6355315" type="General" weightage="20" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> in a live-stream has mentioned that X (formerly Twitter) is moving towards becoming a paid platform for all users. X has announced that the company is now testing a new program in two countries. The program, dubbed as “Not a Bot” has initially been announced in two countries – New Zealand and Philippines. Users creating a new account in these countries will have to pay an annual fee of $1 to interact with other users. Let’s understand what the Not a Bot program is and what impact it may have on new users – <cmsannotation type="cmsannotation" annotationid="Mobile number verification" comment="subhead" text="Mobile number verification">Mobile number verification</cmsannotation> The first thing users will have to do under the Not a Bot program is to verify their phone number. This will strictly apply to new users as well. <cmsannotation type="cmsannotation" annotationid="Subscription plan" comment="subhead" text="Subscription plan">Subscription plan</cmsannotation> Once the user has authenticated their mobile number, they will be asked to select a subscription plan. The user will have three options – <ul><li>$1 plan</li><li>X Premium</li><li>Verified Organisations</li></ul><cmsannotation type="cmsannotation" annotationid="Here’s what you get with the $1 plan" comment="subhead" text="Here’s what you get with the $1 plan">Here’s what you get with the $1 plan</cmsannotation> The $1 plan, which is the cheapest option among the three subscription plans, will allow you to perform the following actions – post content, like posts, reply to posts, quote or repost posts and bookmark posts. It is noteworthy that these are all the things that users can currently do for free. <cmsannotation type="cmsannotation" annotationid="Can new users create an account for free?" comment="subhead" text="Can new users create an account for free?">Can new users create an account for free?</cmsannotation> While new users will be able to opt for a free account, their actions on the platform will be very limited. The users who do not opt for a subscription plan will only be able to read posts, watch videos and follow accounts. <cmsannotation type="cmsannotation" annotationid="Will existing users have to pay $1?" comment="subhead" text="Will existing users have to pay $1?">Will existing users have to pay $1?</cmsannotation> X has mentioned that existing users will not be affected within this test and won’t have to pay any subscription fees. But, from the wording, “within this test”, it can be interpreted that the company is considering charging users a nominal fee to be able to interact on the platform. Musk has been vocal about eliminating bots on the platform and may consider charging a nominal fee to reduce bots on the platform. <cmsannotation type="cmsannotation" annotationid="Why is X doing this?" comment="subhead" text="Why is X doing this?">Why is X doing this?</cmsannotation> As per the platform, this move is not aimed at earning a profit but to reduce spam, manipulation of the platform and reduce bot activity. “This new test was developed to bolster our already successful efforts to reduce spam, manipulation of our platform and bot activity, while balancing platform accessibility with the small fee amount. It is not a profit driver,” X said in a<a href="https://twitter.com/Support/status/1714429406192582896"> post</a>. “It’s the only way to fight bots without blocking real users. This won’t stop bots completely, but it will be 1000X harder to manipulate the platform,” Elon Musk said in a post. <cmsannotation type="cmsannotation" annotationid="Will this program be rolled out globally?" comment="subhead" text="Will this program be rolled out globally?">Will this program be rolled out globally?</cmsannotation> While X has not announced plans for a global rollout, like most features that have been tested on X, including the paid verification feature will likely be rolled out globally once the testing has been done. This could be a few weeks or a few months, based on the results of the testing. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-decline-for-the-ninth-consecutive-quarter-expected-to-bounce-back-in-festive-season/articleshow/104487576.cms">Smartphone makers should be a worried lot as global shipments decline to a decade low</a> <a href="https://www.businessinsider.in/india/news/explained-how-to-lock-and-unlock-your-aadhaar-biometrics-to-prevent-frauds/articleshow/104462114.cms">Explained: How to lock and unlock your Aadhaar biometrics to prevent frauds</a> <a href="https://www.businessinsider.in/tech/news/passkeys-may-soon-replace-passwords-everything-you-need-to-know/articleshow/104361209.cms">Passkeys may soon replace passwords - everything you need to know</a>

Fight against bots? Musk says new users on X will soon have to pay $1 to create an account

<ul><li><keyword id="6355315" type="General" weightage="100" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> has revealed that <keyword id="49715" type="General" weightage="20" keywordseo="x" source="Orion">X</keyword> will soon get two new premium subscriptions.</li><li>One of the subscriptions will completely remove advertisements from the platform.</li><li>This may also mean that X may soon start charging users if they wish to post on the platform.</li></ul> Elon Musk on Friday revealed that X (formerly Twitter) is working on two new tiers of premium subscription, which will be launched soon. This comes just days after X started testing a<a href="https://www.businessinsider.in/tech/news/elon-musk-says-new-users-on-x-will-have-to-pay-1-a-year-to-prove-they-are-not-a-bot/articleshow/104516084.cms"> $1 annual fee</a> for new accounts in select markets. Musk has said that one of the tiers will allow users to completely remove ads from the platform. At the moment, it is not known if the $1 annual subscription is one of the subscription plans Musk is talking about. <cmsannotation type="cmsannotation" annotationid="Two new subscriptions for X" comment="subhead" text="Two new subscriptions for X">Two new subscriptions for X</cmsannotation> Musk has said that X is testing two new premium subscription plans – a lower cost option with all the features but no reduction in ads. The second plan, which Musk has said will be more expensive, will completely remove ads from the platform. If the cheaper affordable plan does not offer any additional benefit and only offers all the existing features, this may mean that Musk is looking to make X a paid-only platform, allowing only users with a subscription to post. In its $1 “Not a bot” subscription plan testing, X had mentioned that existing users will not be affected by this plan and will continue to be able to use the platform like before. During the testing of its “Not a bot” program, X had mentioned that the users who do not opt for a subscription plan will only be able to read posts, watch videos and follow accounts. X had mentioned that the paid plan is being introduced to reduce spam, manipulation of the platform and reduce bot activity. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/google-pay-everything-you-need-to-know-about-googles-new-credit-offerings/articleshow/104573817.cms">Google for India – Sachet loans to credit on UPI, tech giant bets on lending</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-says-new-users-on-x-will-have-to-pay-1-a-year-to-prove-they-are-not-a-bot/articleshow/104516084.cms">Fight against bots? Musk says new users on X will soon have to pay $1 to create an account</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-foldable-launched-in-india-as-an-affordable-alternative-to-samsung-galaxy-z-fold-5/articleshow/104560947.cms">OnePlus Open foldable launched in India as an 'affordable' alternative to Samsung Galaxy Z Fold 5</a>

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India's biggest IPO off to a slow start, subscribed 0.18x on Day 1

BI India Bureau

Fight against bots? Musk says new users on X will soon have to pay $1 to create an account

Sourabh Jain

Pay to post on X soon? Musk says two new subscription plans in the works

Sourabh Jain

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