| |JULY, 20249Comprising 33 pages, the document contains anonymized data and analytics from the Company's background screenings performed for its customers in the Indian market during the first quarter of 2024.TECH MINTThe US-based investor, Invesco has slashed the fair value of foodtech major, Swiggy and fintech major Pine Labs in its half-yearly shareholder report filed with the US Securities and Exchange Commission (SEC).The fintech firm was reported to hold a value of $3.5 billion from $3.8 billion on January 31 and $4.8 billion on December 31, 2023 as per Invesco.Invesco is said to have about 2.8 percent of Pine Labs and about 1.3 percent is owned by Baron Funds.Additionally, Tracxn statistics indicate that Peak XV Partners holds around 20.6 percent of the shares.The fintech firm is observed to have had to reschedule its date for applying for an international public listing last year due to unstable market conditions.It is currently said to be engaged in reverse flipping and gained court approval in May to combine its domestic and city-state entities, which appears to be at the same time as the valuation.Regarding the foodtech firm, which is headed for an initial public offering, the US-based investor has somewhat reduced its fair value compared to its last quarter,.Till January 31, the foodtech firm weighed its value at around $12.7 billion by Invesco.Following March 31, it shot up to $15.1 billion by the US-based asset manager Baron Capital, which is said to be a 25 percent increase over the investor's previous fair value.Crossover funds, which make investments in both privately held and publicly traded businesses, assess their portfolio firms' valuations on a regular basis.A multitude of criteria are taken into consideration when determining the fair value, one of which is the stock market performance of peers.In preparation for a $1.25 billion initial public offering (IPO), Swiggy has filed a secret version of its prospectus with the Securities and Exchange Board of India (SEBI).Since its founding in 2014, Swiggy--which was founded by Sriharsha Majety, Rahul Jaimini, and Nandan Reddy--has raised approximately $3.6 billion from investors such as SoftBank, DST Global, Alpha Wave Global, Accel, Norwest Venture Partners, Prosus, Elevation, and others. Leading provider of employment background screening, identity, and verification solutions, First Advantage Corporation published its Q1 2024 India Employment Screening Trends Report.Comprising 33 pages, the document contains anonymized data and analytics from the Company's background screenings performed for its customers in the Indian market during the first quarter of 2024.The document reads that in Q1-24, industries such as FMCG, Healthcare & Pharma, Services and Telecom sectors showed higher range of discrepancies exceeding the overall average of 9.59 percent.It outlines a noticeable surge in discrepancies in the employment sectors of BFSI, Engineering & Infrastructure, Healthcare & Pharma, Retail, and Services in the first quarter of 2024 compared to the previous quarterIt also found that education discrepancies were higher in the BFSI, FMCG, E-commerce & Logistics, and Services industries.There was a shift observed in employment verifications with sectors like IT, Consulting, FMCG, Engineering & Infrastructure, and Manufacturing increasingly favoring alternate modes of verification.This trend highlights evolving industry practices and the growing emphasis on thorough background checks.Established in 2003, First Advantage delivers innovative services and insights that help customers manage risk and hire the best talent.Enabled by its proprietary technology, First Advantage helps companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers.Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of its more than 30,000 customers. INVESCO SLASHES FAIR VALUE OF SWIGGY, PINE LABSFIRST ADVANTAGE RELEASES ITS Q1 2024 INDIA EMPLOYMENT SCREENING TRENDS REPORT
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