Sharon lost heavily in SVB collapse

Sharon stone lost heavily due to US Banking crisis

The American actress in an emotional speech appealed to the guests present at the fundraiser to donate more, while also sharing her financial troubles

 New Delhi: While speaking at a fundraiser event for cancer research in Beverly Hills, American actor Sharon Stone revealed that she lost half her money to "this banking thing". This is being seen as an apparent reference to the Silicon Valley Bank (SVB) collapse, which has crashed markets around the globe.

The American actress in an emotional speech appealed to the guests present at the fundraiser to donate more, while also sharing her financial troubles.

While admitting that she is not great at online tranfers, she said "I’m a technical idiot, but I can write a check,"

Sharon Stone breaks down in tears asking guests to donate more money. She says writing a check for her requires courage since she “lost half my money to this banking thing,” presumably referring to Silicon Valley Bank collapse. “This is not an easy time for any of us.”

 "And right now, that’s courage, too, because I know what’s happening. I just lost half my money to this banking thing, and that doesn’t mean that I’m not here." Stone added.

Earlier this month, the Silicon Valley Bank, a California-based startup lender, collapsed earlier this month, triggering fears of a possible repeat of the 2008 financial crisis.

Since last year the US Federal Reserve started hiking the interest rates. this reduced returns on bonds for banks and also caused a start-up winter with a slowdown in funding, which reduced the pace of deposits with SVB.

Another US bank, the Signature Bank too fell in the aftermath of SVB's fall, causing concern in the global banking sector.Credit Suisse a European bank also bore heavy losses and is now being taken over by UBS.

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Maiden Forgings IPO Opens on 23rd 

Issue Size – 37,84,000 equity shares of ₹ 10 each

Issue Size – ₹ 23.84 Crore
Price Band – ₹ 60 - ₹ 63
Market Lot Size – 2,000 Equity Shares
Mumbai– Maiden Forgings Limited, a leading manufacturer of bright steel bars and wires, has announced its plans to go public with an Initial Public Offering (IPO) on March 23rd, 2023. The company is aiming to raise ₹ 23.84 Crore through this IPO, with shares set to be listed on the BSE SME platform.
The fresh issue size is 37,84,000 equity shares. Equity Share Allocation
Qualified Institutional Buyers (QIB) – Not more than 17,97,000 Equity Shares
Non-Institutional Investors (NII) – Not less than 5,39,100 Equity Shares
Retail Individual Investors (RII) – Not less than 12,57,900 Equity Shares
Market Maker – 1,90,000 Equity Shares
The net proceeds from the IPO will be utilized for Consolidation and expansion of the manufacturing facilities, meet working capital requirements and for general corporate purposes. The issue closes on March 27th, 2023.
The Book Running Lead Manager to the Issue is Share India Capital Services Private Limited and The Registrar to the Issue is Maashitla Securities Private Limited.
Mr. Nishant Garg, Managing Director, Maiden Forgings Limited, said,” Our decision to focus on forward integration and diversify our product portfolio, reflecting our commitment to sustainable business growth and improving margins. We strive to meet the evolving needs of our customers, and with the upcoming IPO, we will have the necessary resources to enhance our capabilities and continue our growth trajectory.
Our proven track record of delivering value to stakeholders gives us the confidence that this IPO will enable us to achieve our long-term objectives of developing specialty steel for import substitution in India and expanding into new export markets while delivering superior quality products to our customers.
Mr. Anand Srivastava, Executive Director, Share India Capital Services Private Limited, BRLM to the issue, said, “We believe that this offering will provide the company with the necessary resources to enhance its manufacturing facilities, meet working capital requirements, and diversify its product portfolio.
The IPO will also help the company achieve its long-term objectives of expanding into new export markets and developing specialty steel for import substitution in India, which will improve its business and margins sustainably.”
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