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Ather has reportedly trimmed its valuation to about $1.4 billion from a previously estimated $2 billion, reflecting continued tepid sentiment in the secondary market. The company plans to use the IPO proceeds for capital expenditure, R&D, marketing, and debt repayment. Last year, Ather raised 600 crore in a funding round led by NIIF at a valuation of $1.3 billion.
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Retail prices touched 1,03,000 for 10 gm of gold with a 3% goods and services tax (GST), an occurrence which does not augur well for sales on Akshaya Tritiya, an annual Hindu and Jain spring festival when it is considered auspicious to buy gold. Akshaya Tritiya falls on April 30 this year.
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Investors can sell sovereign gold bonds on stock exchanges or prematurely redeem them in the repurchase facility offered by the government once every six months, after the end of the fifth year. After the eighth year, bonds are redeemed, and the accumulated capital is given back to investors.
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News and Media
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