5th April 2022
Good Morning! 

Apologies for not being able to reach you yesterday, we had something urgent come up.
First full week of the new year financial year though, we hope you achieve all your financial goals this year. 
We had high hopes for CRED's ad during the IPL this time. One of their ads dropped., but we aren't that impressed tbh. If you haven't seen the ad, check it out here. How do you all like it? We still think Jar App's ad was way better.



+ 2.25%



+ 2.17%



- 0.26%



- 0.13%



+ 5.5 bps



+ 2.21%

*As of market close

  • Markets: Sensex and Nifty50 surged to their highest closing levels in almost 3 months yesterday, driven by strength seen in banking and financial stocks. HDFC and HDFC Bank were the leaders after the companies announced a merger. Keep scrolling for the deets.


Mega Merger

HDFC and HDFC Bank, 2 of corporate India's most respected entities will be merging to form one even bigger company.

Wait, these are 2 separate companies?
Yes. HDFC Bank is a bank. And we all know about it.
Housing Development Finance Corporation (HDFC) on the other hand is a non-bank finance company or NBFC. This is actually the original company that was formed with gov support in the 1970s as the first specialized mortgage lender in India. 

As business grew, they created a full-scale bank in 1994 called HDFC Bank. But the home loan (mortgage) business remained in the original company HDFC. Now, after all these years they've decided to bring everything together under 1 company.

What happens next?
If/when the deal goes through, HDFC will be merged with and into HDFC Bank.
This will mean the bank will be able to build its home loan portfolio and expand its existing customer base. For HDFC, the biggest gain will be access to low-cost funding and the huge customer base of HDFC Bank.

HDFC Bank will then be 100% owned by public shareholders and existing shareholders of HDFC will own 41% of HDFC Bank. Shareholders of HDFC will get 42 shares of HDFC Bank for every 25 shares of the non-banking lender held by them

The management of HDFC Bank will continue to run the combined entity and Sashidhar Jagdishan will remain the CEO of the whole thing.
Keki Mistry, who is currently head of HDFC, will stay in his role until the merger is complete, but we're not sure what he'll do after. Plenty of time to figure that out because they think it will 14-18 months to conclude the deal.

Fun Fact - One of the promoters of HDFC was the Industrial Credit and Investment Corporation of India, which later evolved into ICICI Bank. 

Fun Fact #2- The market cap of the combined HDFC entities will be around Rs12.9 lakh crores, making it the third-largest listed company in India, and twice the size of ICICI Bank.


Tech Snippets
Money gun

Investigation Time

We are proud to announce that our anti-trust regulators – the Competition Commission Of India(CCI) are going to be following in our footsteps.
While we keep investigating Zomato/Swiggy every day for discounts they will also now be investigating these food apps.
Their reason though is a bit more serious.

They are going to be launching an investigation into Zomato/Swiggy on various allegations.

Some of these allegations include delayed payment cycles, unfair pricing, masking data from restaurant partners, charging exorbitant commissions, unfair contracts and much more.

It isn't like the CCI just randomly decided to start investigating these guys. The National Restaurant Association of India, a body that represents over 500,000 restaurants here complained about whether these 2 are neutral or not.

So now there will be a detailed investigation and we will hear what they find in 60 days.

We just hope the CCI doesn't mess up our discounts, what would we do without that?


Okay everyone, what's the first thing that comes to your mind when you think of Apps For Bharat?
We hope you thought of spiritual and devotional apps. That's exactly what AppsForBharat does and they just raised $30 million.

First off we'd love to give them a solid 10/10 for naming their company and products.
Their first product is called SriMandir.
It allows users to consume devotional content, connect with prayer groups and access a large library of scriptures and spiritual videos.
They tap into the other need of Bharat also btw. The need to consult with astrologers and priests.

SriMandir apparently is seeing significant growth in terms of downloads

We are intrigued to see what they come up with next though considering they are called AppsForBharat and so far they are out with 1 app we are expecting more.

On a Lighter Note

Campus Ambassador Program

If you are a college student do check out our campus ambassador program. 
For more deets follow this link.

If you have more time ...

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