Business briefs

IVF Access raises USD 5 mn in Series A funding
     Mumbai, Jun 3 (PTI) IVF Access on Wednesday said it has raised USD 5 million (around Rs 37 crore) in Series A funding to set up IVF clinics across India.
     IVF Access is a healthcare company focused on providing In Vitro Fertilisation (IVF) treatments in India.
     The capital raised will be deployed to set up IVF clinics across India that provide assisted reproductive treatments, with its operations enabled by a proprietary IT platform.
     “We will increase the reach of such fertility treatments through a chain of clinics in India, where couples trying to conceive will have access to both technology and medical expertise.
“We are excited to partner with Vertex Ventures SEA and India in this journey and look forward to benefiting from their experience in building truly transformative businesses,” IVF Access co-founder and CEO Naresh Rao said.
    
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Samco Securities launches buy today, pay in two days facility for investors buying stocks
    
Samco Securities, leading discount stock broker, on Wednesday launched a new facility that will allow investors to buy delivery shares by paying for only an initial margin and the outstanding margin can be paid within 2 working days.
     The facility -- BTPT or buy today, pay in two days -- would generate huge savings for customers. Also, it ensures flexibility and efficient utilization of capital for traders and investors, the company said in a statement.
     Currently, most brokers insist on paying 100 per cent upfront margins when clients buy stocks for delivery in the cash markets. This is despite the fact that exchanges follow a T+2 settlement cycle where only a part of the margin (usually 20-25 percent) needs to be settled upfront but the balance (75-80 percent) can be paid on T+2 days, it said.
     "Once you pay 100 per cent upfront margins for your stock purchases on T Day, investors stand to lose on the accrued interest for 2 days. This interest amount could be huge over a period of time. BTPT enables saving this interest which can be far more than zero brokerage on delivery.” said Jimeet Modi CEO at Samco Group on the launch. PTI SM SP    
    
    
    
    
    
    
    
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(This story has not been edited by THE WEEK and is auto-generated from PTI)