iWorld
Spectrum bid amount touches Rs 1.09 lakh crore after 110 rounds
NEW DELHI: The bid amount for the spectrum auctions has touched Rs 109,000 crore at the end of 110 rounds, though bidding remains slow in the 2100 MHz band, which caters to 3G and also showed a dip for the 1800 MHz band.
With 89 per cent of the spectrum having been provisionally allocated to bidders, about 11 per cent of the spectrum still remains. Competitive bidding will continue for the 2100 MHz, 1800 MHz, 900 MHz and 800 MHz bands.
Active bidding continued on the eighteenth day with a majority of service areas going at a premium over reserve price. There was robust auction with 100 per cent activity requirement and activity in new service areas in 900 MHz and 800 MHz bands.
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.
iWorld
Pocketful appoints Prateek Singh as CEO to drive next growth phase
Ex-Bajaj Broking executive to scale digital investing platform in India
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.
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.
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.
