7 FINANCE FUN FACTS YOU MUST KNOW - PART 2

Believe it or not, here are 10 interesting financial truths.

1.The Infosys Technologies IPO had a low level of interest.

The June 1993 Infosys first public offering, which priced company shares at Rs 95 per, failed to attract enough investors. By purchasing 13% of the equity, Morgan Stanley saved it. When it went public at Rs 145, the stock increased by more than 52 percent. The IPO investment of Rs 9,500 is now worth almost Rs 2 crore, plus approximately Rs 20 lakh in dividends.

2. The highest income tax bracket was 97.75 percent !

Income tax in 1970–1971 was divided into 11 slabs, with the top band carrying an 85 percent tax rate. The marginal income tax rate rose to 97.75 percent when combined with a 15 percent surcharge! The number of tax brackets has decreased to 3 during the previous 50 years, with the top group carrying a 30 percent tax rate.

3. At the age of 52, Warren Buffett's net wealth represented just 0.3% of its current amount.

Warren Buffett, widely regarded as the greatest successful investor in history, amassed 99.6% of his $87.5 billion wealth after turning 52. His wealth increased by much to $72 billion after he reached 65. At the young age of 11, he began investing, and at the age of 13, he filed his first tax return.

4. The settlement of stock trades may take more than a month !

The settlement of stock trades may take more than a month back when shares were still exchanged in tangible form in the 1980s. The settlement process was shortened to 14 days after the introduction of electronic matching engines in the middle of the 1990s. The process now takes two days.

5.In 2020, Apple Inc. had a market value of around Rs 164 lakh crore.

In 2020, Apple Inc. had a market value of around Rs 164 lakh crore This is twice as large as the market cap of the 30 share index and larger than the aggregate market cap of the BSE 500 businesses. Apple shares have more than doubled in value since August 24, 2019, rising from $212 to more than $500.

6.The most money was raised for public equality in 2020.

Despite being overshadowed by the epidemic, the calendar year 2020 had an all-time high capital raising through the public equities markets at Rs 1,77,468 crore. This was 116% more than in calendar year 2019. Included in this were IPO, QIP, and OFS profits.

7.Anil Ambani was once wealthier than Mukesh Ambani

Anil Ambani's net worth briefly surpassed Mukesh's in 2006, a year after the Ambani brothers divided their money, by around Rs 500 crore. Mukesh, though, soon outran his sibling. Forbes estimated Mukesh's wealth to be $49 billion and Anil's to be $45 billion in 2007. Anil claims he has no fortune, whereas Mukesh's wealth has increased to $74 billion. Anil lost $110 every second whereas Mukesh's fortune climbed by an average of $61 during the previous 13 years.