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Spectrum auction ends with bid amount crossing Rs 1.09 lakh crore

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NEW DELHI: Around eleven per cent of the spectrum has remained unsold after the auction came to a close on 25 March with bid amounts touching a whopping Rs.109,874 crore.
 
 
The auction lasted nineteen days with a total of 115 rounds.
 
 
Communications and Information Technology sources told Indiantelevision.com that the entire spectrum could not be sold because of a slowdown in 2100 MHz band, which caters to 3G and a dip for 1800 MHz band. 
 
 
The other bands up for auction were 900 MHz and 800 MHz, which saw robust action. A majority of service areas were auctioned at a premium over reserve price.
 
 
The government had initially expected to reap around Rs 49,000 crore from the auction, though the Communications and IT Ministry sources had later predicted that it would get close to Rs 1 lakh crore.

 

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Pocketful appoints Prateek Singh as CEO to drive next growth phase

Ex-Bajaj Broking executive to scale digital investing platform in India

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MUMBAI: Pocketful has appointed Prateek Singh as its chief executive officer, marking a key leadership move as the company looks to scale its presence in India’s fast-evolving investment market.

Backed by the three-decade legacy of Pace Group, Pocketful is positioning the appointment as a strategic step to accelerate growth and strengthen its foothold among retail investors.

Singh brings over 13 years of experience in building digital financial platforms, with expertise spanning customer acquisition, product development and business expansion. He joins from Bajaj Broking, where he served as chief growth officer and played a key role in enhancing the company’s digital capabilities and platform experience.

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Commenting on the appointment, Pocketful co-founder Sarvam Goel said, “Prateek’s appointment represents an essential milestone for Pocketful as we expand our operations and strengthen our position in the Indian investment market.” He added that Singh’s experience aligns closely with the company’s vision of building a user-focused, technology-driven platform.

For his part, Singh said, “I am truly excited to join Pocketful at such a pivotal stage of its growth journey,” highlighting the rising retail participation and shift towards digital investing in India. He added that the focus will be on simplifying the investing experience and enabling more informed participation in capital markets.

Pocketful offers zero brokerage on equity delivery trades, along with no account opening charges and lifetime zero annual maintenance fees, positioning itself as an accessible platform for new-age investors. It also caters to active traders with advanced tools and features such as margin trading and its in-house intelligence layer, Pocketful GPT, designed to assist with trade ideas and portfolio analysis.

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The company has recently expanded into mutual funds, signalling its ambition to evolve into a full-stack investment platform. With Singh at the helm, Pocketful is looking to ride the wave of India’s growing retail investor base and sharpen its competitive edge in the crowded brokerage space.

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