Business
Data Patterns IPO: Share Allotment Status Declared Today, Know How To Check Allotment Status
The bid price of Data Patterns IPO is Rs 585 per share. Its Face value is Rs 2 per equity share. The size of Data Patterns IPO is Rs 588.22 crore and will be listed at BSE and NSE.

Data Patterns Limited issued its Initial Public Offering (IPO) on December 21, 2021. Data Patters IPO received a massive response from investors when it announced that it was open for subscription on December 14, 2021. Data Patterns closed its IPO on December 16, 2021.
Data Patterns IPO is one of the four IPOs listed on the stock exchanges today. The other three include MapmyIndia, MedPlus Health, Metro Brands.
The bid price of Data Patterns IPO is Rs 585 per share. Its Face value is Rs 2 per equity share. The size of Data Patterns IPO is Rs 588.22 crore and will be listed at BSE and NSE. The lot size of the Data Patterns Limited IPO is 25 equity shares. Pre-issue shareholding of Data Patterns is 58.63%, and post-issue shareholding is 45.62%.
If you have invested in the Data Patterns IPO, then you can check the share application status in the following ways:
1. BSE Website
2. Registrar’s website
You can check IPO allotment status for Data Patterns on the BSE website by following the below steps:
Step 1: Go to the BSE website by clicking on the URL: https://www.bseindia.com/investors/appli_check.aspx
Step 2: It will show you the ‘Status of Issue Application’ page. On this page, you click the ‘Equity’ option.
Step 3: Select Data Patterns (India) from the drop-down adjacent to Issue Name.
Step 4: Enter your application number and PAN card number and click search. It will show you the status of your application.
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You can also use Registrar’s website, Link Intime India, to check the allotment of Data Patterns IPO by following the below process:
Step 1. Go to the Link InTime website
Step 2: Select the ‘Data Patterns Ltd’ option from the drop-down list adjacent to Company.
Step 3: You need to enter either of the three modes: Application number, Client ID and PAN ID.
Step 4: Select between ASBA and non-ASBA application types.
Step 5: Enter details of the mode you have opted in Step 3, fill the captcha and enter the ‘Submit’ option.
The date of refund initiation for unsuccessful bidders of Data Patterns IPO is December 22, 2021, and the shares will be credited into the Demat Account on December 23, 2031. The shares of the IPO will be listed on December 24, 2021.
Data Patterns Limited was founded in 1985 and is one of the fastest-growing companies in the Defense and Aerospace Electronics sector and has proven its in-house designs and development capabilities. Data Patterns India Limited makes various products associated with defense and aerospace and provides services like software engineering, firmware engineering, environment testing, mechanical engineering, electronics hardware engineering, functional product testing, prototype design, and engineering services.
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The Company provides indigenous integrated and strategic defense and aerospace electronics solutions and thus benefits from the Indian government’s ambitious ‘Make In India’ scheme.
Business
Elon Musk Breaks Silence on Twitter’s Failures Since Takeover

It’s been more than six months since Elon Musk took over the charge of Twitter. Since then, the micro-blogging firm has been in the news for all the wrong reasons. Roles and responsibility shuffling, termination of employees, and the recent subscription-based verified badge all are indicating the decisions are nothing but obnoxious. In a recent interview with the BBC, Twitter CEO Elon Musk described his experience as Twitter CEO as a “rollercoaster,” acknowledging the highs and lows that have taken place in his tenure.
Twitter categorized the BBC’s Twitter account as “government-funded media,” a designation that is often reserved for government-owned and operated news organizations. This prompted the broadcaster to have a dialogue with Twitter’s Elon Musk. It is important to note that Musk has been skeptical of conventional media, and when challenged, the press email address for Twitter even sends back a poop emoji.
Elon Musk, the CEO of Twitter, made a number of recent steps, including the announcement that all legacy verified accounts will lose their ticks unless the accounts subscribed to Twitter Blue, a monthly subscription that costs $11 in the United States and 900 rupees in India. This choice was taken to prevent influential journalists from having the ability to choose which pieces of news should get more attention. Musk has voiced the expectation that this step would give the general population the ability to determine the narrative, rather than the media.
In the interview
Elon Musk has given admission to mistakes and errors that happened on Twitter since he took the leadership of the platform. He also said that he feels the business is “going to a nice place.” According to him, the business is “basically breaking even” at this point since advertisers are starting to come back.
It is commendable that Elon Musk is willing to take responsibility for Twitter’s shortcomings and missteps. It is quite unusual for a CEO to acknowledge having made errors, and it is even more unusual for them to do so in public. Nonetheless, Musk’s honesty in addressing the company’s failures might help the public trust Twitter more, realizing that they are mindful of their weaknesses and striving to improve. This is because the public would know that Twitter is aware of its failings and is working to improve.
Elon Musk’s interview with the BBC provides light on the highs and lows of his term as CEO of Twitter, His acknowledgment of faults and failings is a welcome change. Only time will tell whether Twitter is able to win back the confidence of the general people and transform into a platform that emphasizes authenticity and transparency.
Business
Netflix Layoffs 150 Employees Given Declining Subscribers Base
Netflix layoffs 150 employees from its workforce. The layoffs will mainly affect its office in the United States, which is located in the state of California.

World’s largest OTT platform, Netflix layoffs 150 employees from its workforce. The firm has been lately striving hard to retain its falling number of subscribers, but it seems Netflix could not succeed in stopping the number of subscribers from plummeting. So, Netflix on Tuesday announced that it was laying off 2 percent of its staff.
The layoffs will mainly affect its office in the United States, which is located in the state of California. They make up roughly 2 percent of the company’s workforce in North America, somewhere around 7,500 people.
Why Netflix Layoffs Its Staff?

Netflix announced in April 2022 that it had lost 200,000 members in the first three months of the year. This was the first time that the streaming service had ever seen a significant decline in consumers. The company also warned that another two million users were projected to flee in the next quarter.
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Despite these losses, Netflix remains the undisputed market leader with 220 million subscribers worldwide. However, its rivals are expanding at a much quicker pace than before, and they are starting to intrude into its domain by providing content and services that are alternative to their own.
Netflix has already taken steps to address this issue by reducing its workforce by 2% (around 150 employees) to reduce costs and increase efficiency. However, some analysts believe that further layoffs may be necessary if Netflix wants to remain competitive as its rivals continue their meteoric rise in popularity among customers worldwide.
“Netflix’s recent financial report showed that the business had lost customers due to the conflict in Ukraine and its decision to hike pricing in the United States. It was found that only leaving the Russian market had resulted in a loss of 700,000 subscribers for the business.
However, this was not the only bad news for Netflix. The company also announced an increase in its quarterly losses and said that it would be raising prices for new customers.
Clarification On Netflix Layoffs
A spokesperson for Netflix has released a statement regarding the company’s recent decision to reduce the number of employees by 2%.
The statement reads: “These decisions are primarily motivated by business requirements rather than individual performance, making them highly challenging since none of us want to say goodbye to such terrific colleagues.
The statement did not clarify which divisions of Netflix were impacted by these layoffs; however, according to the reports, content creation and recruitment departments and communications departments were affected by these job cuts.
Netflix is also trimming the number of its original productions. To minimize expenses, it decided to stop the creation of Pearl, an animated series that Meghan Markle developed. This decision was made in early May.
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Testing Alternative Revenue Models
Since it announced that it would be raising prices, Netflix has been investigating other ways that it may make cash. While the company has said that it still needs more time to figure out how these changes will affect its users, they have already begun testing ad-based pricing models.
The company is also working with advertisers to ensure that their ads are relevant instead of interrupting the user experience.
The OTT company also stated that it would be cracking down on password sharing among family members or friends who may be sharing accounts. Netflix said this practice was responsible for losing 100 million homes in worldwide markets, including India and China.
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Business
Crypto Legalization In India Never Possible, Says Finance Secretary Somanathan, Leaves Traders In Worry
Crypto legalization can never be considered in India Cryptocurrencies and NFT are digital currencies whose price is determined by a transaction between two parties.

According to the Reserve Bank of India (RBI), virtual currencies gaining ground in India, including the newly founded Non-Fungible Tokens, will never be accepted as legal tender in India, which creates doubts about crypto legalization in India, Somanathan, Finance Secretary of India, stressed that only digital currencies that would not default would be supported by the Reserve Bank of India (RBI). TV Somanathan was speaking about the central bank’s stand on cryptocurrencies after Finance Minister of India Nirmala Sitharaman confirmed that virtual digital assets will be subject to a 30 percent tax.
Crypto legalization can never be considered in India Cryptocurrencies and NFT are digital currencies whose price is determined by a transaction between two parties.
TV Somanathan On Crypto Legalization
After being pressed to clarify his position, the Finance Secretary said that anyone who seeks to engage in private cryptocurrency should be aware that such investments do not have the government’s permission and that there is no guarantee whether their investment will be profitable or not. He went on to say that although one may incur losses, the central government is under no obligation to reimburse one for such losses.
Also Read: Crypto Tax Policy Brings 30% Tax On Cryptocurrency Transactions, No Respite On Losses
Providing clarity on the issues of cryptocurrency and crypto legalization, Somanathan stated the Reserve Bank of India would support the digital currency, and the money will be under its control; nevertheless, the currency will be digital in form. The Reserve Bank of India (RBI) has declared that the digital rupee that it will create would be recognized as legitimate money. TV Somanathan said, “The rest of them do not fall under legal tender as per the opinion of the Reserve Bank of India, and they will never have legal tender status.
As part of her Budget 2022 address, the Finance minister of India, Nirmala Sitharaman, proposed a 30 percent tax on digital assets derived from virtual assets delivered on Tuesday. The scale and prevalence of these transactions, in her opinion, have increased dramatically in recent years, and she believes that a particular tax system should be formed to address the frequency and amplitude of these transactions.
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It has been clarified that, except for the cost of purchase, no deductions would be permitted in respect of any expenditures or allowances while calculating such income, according to her. Aside from that, she recommended an additional 1% service fee on payments made regarding payments on virtual digital assets that are transmitted in amounts more than and equal to the threshold monetary amount. The proposed 30 percent tax on the cryptocurrencies will be chargeable at the receivers end, which means the sender of digital currency will not have to pay any tax. But the receiver of the currency will be liable to pay the newly proposed 30 percent tax. While in trading in these digital currencies, there will be no tax on purchasing but selling off coins will be taxable at 30 percent.
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Crypto traders seemed happy with the newly proposed crypto tax policy yesterday. However, crypto legalization bill is what they are waiting for. On the other hand, there was a little surge in values of the crypto coins. However, there was a significant fall in price today.
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