Tag: Sovereign Gold Bond

Gold ETFs versus Sovereign Gold Bonds: Where should you invest on the occasion of Dhanteras?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Purchasing gold on Dhanteras, a day ahead of Diwali, is considered auspicious in Indian culture. However, these days individuals are faced with a modern-day dilemma: should they stick with the allure of gold jewellery or venture into buying digital gold? In recent years, an increasing number of individuals have recognised the advantages of digital gold, which include Gold Exchange Traded Funds (ETFs) and Sovereign Gold Bonds (SGBs), as opposed to holding physical gold in the form of jewellery or coins.

Both Gold ETFs and SGBs present compelling investment options, particularly due to their cost-effectiveness compared to traditional gold purchases. However, it’s important to note that opting for these digital forms of gold means forgoing physical possession of the precious metal.

Here are some key factors to consider when deciding where to invest money today, November 10, on the occasion Dhanteras:

Basic definition

Sovereign Gold Bonds (SGBs) are issued by the Indian government, and investors receive holding certificates. These bonds consist of government securities denominated in gold, and investors are required to pay the issue price in cash. SGBs provide an interest rate of 2.5% on the initial investment, payable half-yearly over an eight-year maturity period.

The market price of these bonds moves in tandem with domestic gold prices.

Gold ETFs, on the other hand, are listed instruments whose market price is linked to domestic gold prices.

Maximum quantity

SGBs have a maximum subscription limit of 4 kg for individuals, 4 kg for Hindu Undivided Families (HUFs), and 20 kg for trusts and similar entities per financial year (April-March). In contrast, there is no specific limit for Gold ETFs, although investors may encounter large bid-ask spreads on the exchange due to low trading volumes.

Tax treatment

Interest from SGBs is taxable based on the investor’s income slab. Capital gains on SGBs are tax-exempt if held until maturity, and if exited after 5 years but before maturity, the capital gains are subject to a 20% tax rate with indexation benefit. Gold ETFs, on the other hand, are taxed at 20% with indexation benefit if held for three years or more, and at the marginal tax rate if held for less than three years.

A look at returns

Both Gold ETFs and SGBs are linked to physical gold rates, meaning the capital appreciation benefits are similar. However, SGBs offer an additional benefit of 2.5% interest on the invested value, which can significantly enhance long-term returns.

Historical data shows that several Gold ETFs have delivered annualised returns of over 12% in the last five years.

Here’s a look at how SGB performed since the start of FY22:

(Source: RBI)

The above data has used price of SGB for the first issue of FY24 as the benchmark price to calculate returns. The above table shows that had an investor bought gold bonds in any of the tranches in the last 14 issues in FY21 and FY22, he/she would be sitting on profits.

Loan facility

SGBs offer the option for investors to take out loans against their gold holdings, while this facility is not available for Gold ETFs.

Where to invest?

The choice between Sovereign Gold Bonds and Gold ETFs should depend one one’s investment goals, risk tolerance, and investment horizon. SGBs stand out with their unique blend of semi-annual interest and maturity amounts, along with better tax efficiency compared to ETFs.

On the other hand, Gold ETFs offer flexibility and the potential for higher returns but come with added costs and tax considerations.

It’s imperative to check the objective before buying gold. Additionally, investors should ensure that they don’t allocate more than 10% of the total portfolio to gold, whether it’s in physical or digital form, as recommended by experts.

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Last day to buy Sovereign Gold Bond series 2: Check steps to invest via Zerodha Kite, Groww, Upstox

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investors can participate in the Sovereign Gold Bond (SGB) scheme 2023-24 series 2 till Friday, September 15. This investment opportunity offers a chance to own gold in a paperless form while earning interest. The issue price for this series is set at Rs 5,923 per gram of gold. Online subscribers can enjoy a Rs 50 per gram discount.

SGBs are government securities denominated in grams of gold, introduced in November 2015. They aim to reduce the demand for physical gold and promote investments in financial assets, strengthening India’s financial infrastructure. Eligible buyers encompass a wide spectrum, from resident individuals and Hindu Undivided Families (HUF) to trusts, universities, and charitable institutions.

These bonds can be acquired through a variety of channels, including banks, Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges such as the NSE and the BSE and brokerage houses.

Here’s how one can make the SGB purchase through three popular brokerage platforms: Zerodha, Upstox, and Groww:

How to buy SGB from Zerodha Kite?

Step 1: Visit kite.zerodha.com.

Step 2: Click on “Bids.”

Step 3: Enter the desired investment amount.

Step 4: Click on “Place bid.”

(Note: Investors can access government bonds and SGBs on the Kite web platform. It will soon be available on Kite mobile, as per Zerodha)

How to purchase SGB via Upstox:

Step 1: Log in to the Upstox web platform.

Step 2: Click on “SGB” in the top menu.

Step 3: Review the SGB details and click “Apply.”

Step 4: Choose the number of units you want to purchase and review your order.

Step 5: Select a payment mode and complete the payment process.

Step 6: The order will be successfully placed.

How to buy SGB via Groww:

Step 1: Search for “SGB” on the Groww platform.

Step 2: Select the desired number of units.

Step 3: Proceed with the application process.

Apart from the brokerage houses, here are the steps to invest in SGB via net banking accounts:

Step 1: Log in to the net banking account.

Step 2: Select ‘e-Service’ from the main menu, then choose Sovereign Gold Bond.

Step 3: First-time investors must register, review the Reserve Bank of India’s terms and conditions, and proceed. Enter the necessary details for the SGB scheme and the depository participant from NSDL or CDSL, which hosts the demat account.

Step 4: Submit the registration form.

Step 5: After registration, click on the ‘Purchase’ option in the header tab.

Step 6: Input the subscription quantity and nominee details.

Step 7: Enter the one-time password (OTP) sent to the mobile phone to complete the process.

Furthermore, SGBs can also be acquired from the secondary market, even after the last subscription date, through primary issuance by stock exchanges or the Reserve Bank of India (RBI).

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Sovereign Gold Bond series 2 opens for subscription: How to buy, comparison with other gold forms and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investors eyeing gold as an avenue for investment have an opportunity as the second tranche of the Sovereign Gold Bond (SGB) scheme for 2023-24 opened for subscription on Monday, September 11. This subscription window will remain open until Friday, September 15, providing a limited-time chance to invest in this government-backed scheme.

The issue price for this tranche has been firmly set at Rs 5,923 per gram of gold. However, those opting for online subscriptions can benefit from a Rs 50 per gram discount, making it an attractive proposition for tech-savvy investors.

About Sovereign Gold Bonds

Sovereign Gold Bonds are denominated in grams of gold and serve as an alternative to physical gold ownership. Launched in November 2015, the primary aim of this scheme is to curtail the demand for physical gold and encourage savings to flow into financial assets, further strengthening India’s financial infrastructure.

One of the standout features of the Sovereign Gold Bond Scheme for 2023-24 is its tenure, which extends for eight years. Additionally, investors have the option of premature redemption after the fifth year, a flexibility that can be exercised on the date of interest payment.

The investment limits are structured to accommodate various investor profiles. The minimum investment starts at just one gram of gold, making it accessible to a wide range of individuals. At the upper end, individuals can subscribe to a maximum of 4 kg, while HUFs can also invest up to 4 kg, and trusts and similar entities enjoy a higher limit of 20 kg per fiscal year.

What makes SGBs especially appealing is their fixed interest rate of 2.50 percent per annum, paid semi-annually on the nominal value. Experts believe that these bonds cater to both conservative and aggressive investors.

How to buy SGB?

These bonds can be acquired through a variety of channels, including banks, Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges such as the NSE and the BSE. Eligible buyers encompass a wide spectrum, from resident individuals and Hindu Undivided Families (HUF) to trusts, universities, and charitable institutions.

Investing in SGB is a straightforward process, particularly when done online. Here are the steps to follow:

Step 1: Log in to the net banking account.

Step 2: Select ‘e-Service’ from the main menu, then choose Sovereign Gold Bond.

Step 3: First-time investors must register, review the Reserve Bank of India’s terms and conditions, and proceed. Enter the necessary details for the SGB scheme and the depository participant from NSDL or CDSL, which hosts the demat account.

Step 5: Submit the registration form.

Step 6: After registration, click on the ‘Purchase’ option in the header tab.

Step 7: Input the subscription quantity and nominee details.

Step 8: Enter the one-time password (OTP) sent to the mobile phone to complete the process.

Furthermore, SGBs can also be acquired from the secondary market, even after the last subscription date, through primary issuance by stock exchanges or the Reserve Bank of India (RBI).

Expectations from SGB 2023-24 tranche 2

Industry experts are optimistic about the prospects of the Sovereign Gold Bond Tranche 2 in the 2023-24 Series. Colin Shah, MD of Kama Jewelry, emphasised the security and potential returns that gold investments offer in the current economic climate.

With gold expected to outperform many other asset classes, Shah anticipates substantial long-term returns of more than 20 percent. Analyst estimates also suggest that gold is poised to rise by more than 10 percent CAGR up to 2026, making it an enticing proposition for investors seeking alternatives in these uncertain times.

SGB versus gold ETFs and physical gold

(Source: BankBazaar)

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Sovereign Gold Bond 2023-24 first series open now — a look at past returns, and how much should you buy

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The first tranche of Sovereign Gold Bond (SGB) scheme for 2023-24 is currently available for subscription and shall be there till Friday i.e. June 23. The price for this bond has been fixed at Rs 5,926 per gram of gold, with Rs 50 discount for those who invest online. Experts call SGB a decent investment due to factors like government guarantee, interest of 2.5 percent and capital gains tax exemption if held for the full 8 years.

However, it makes sense to see if SGB has worked well for investors in the past.

Here’s a look at how SGB performed since the start of FY22:

(Source: RBI)

The above data has used price of SGB for the first issue of FY24 as the benchmark price to calculate returns. The above table shows that had an investor bought gold bonds in any of the tranches in the last 14 issues in FY21 and FY22, he/she would be sitting on profits.

“One can argue that 2 years is a very short period. But, if we take from the time SGBs were launched by the government in 2015, the price of the gold bonds is up 121 percent. That is CAGR yield of 12 percent and if we add the interest of 2.5 percent, it makes the yield 14.5 percent,” said Nehal Mota, Co-Founder & CEO at Finnovate, Hybrid Financial Fitness Platform while talking to CNBC-TV18.com.

On the other hand, if we look at gold prices, they have gained over 17 percent in FY23, around 8.2 percent YTD. Gold prices have been trading near their all-time highs domestically as well as globally. The recent moves by the US Fed and RBI capped gains for gold, leading to softness in the prices.

Here’s a look at how gold fared last year versus other asset class:

Moving forward, Nish Bhatt, Founder & CEO at Millwood Kane International believes that gold prices will be guided by the action of the central banks, DXY a possible chance of a recession in the US, and the geopolitical situation between Russia-Ukraine and China-Taiwan.

“Expectations of global central banks easing rates from CY24 onwards will provide support to the yellow metal,” he said.

Given this, can we say SGB is a decent avenue?

The returns of SGB shows it’s an attractive investment as per conservative asset class. One can also look at other benefits of gold bond.

If held till maturity, SGB gives zero taxation and even if sold earlier investors can get the benefit of long-term capital gains with indexation (> 3 year holding period). Additionally, it offers a semiannual interest rate of 2.5 percent per annum (though taxable it still is an added income that neither a fund or physical gold provides)

“These bonds are also tradable on the exchange and some series do have reasonable liquidity at least for retail investors. With the current movement of gold over the past 1 year, people have been flocking to buying SGB’s, however we advise individuals not to take an exposure of more than 10 percent into gold as an asset class as over long periods it is a cyclical commodity and returns are generally lower vs equities,” Vivek Banka, Co-Founder at GoalTeller told CNBC-TV18.com.

Seconding Banka’s thought, Mota of Finnovate also suggests investors to look at gold as a hedge and not as a return generating investment. Hence the percentage allocation is critical (and here we only talk about investments in gold and not jewellery).

“If one is still under that ratio, this is the time to buy SGBs. It is essential to ensure that investors don’t overshoot that allocation percentage too much,” he said.

Buying SGB from secondary market

SGBs are issued in tranches and generally open for a period of one week in a month. But, investors actually don’t need to wait for the Reserve Bank of India (RBI) to issue fresh SGBs. This is because they are always available on the secondary market and one can buy them via stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

Via exchanges, investors are likely to get SGBs at discounted rates. This disparity mainly results from the exceedingly low trading volumes on the stock exchanges.

The forces of supply and demand determine the prices of SGBs exchanged on the secondary market, just like they do for any other active public security. Besides the fact that there isn’t a lot of liquidity for these securities, demand and supply dynamics also matter. These elements cause the SGB bond prices to diverge from gold spot prices, according to ICICI Direct.

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India announces Sovereign Gold Bond Scheme 2023-24, first tranche to open on June 19

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government has decided to issue two tranches of sovereign gold bonds (SGBs) during the first half of the current financial year. The date for subscription for 2023-24 Series I is June 19-23, 2023, while for Series II is September 11-15, 2023, Reserve Bank of India (RBI) said in a statement. The issue date for Series I is June 17, while tranche’s II issue date is September 20, RBI said.

The SGBs will be sold through Scheduled Commercial banks (except Small Finance Banks, Payment Banks and Regional Rural Banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, and recognised stock exchanges — National Stock Exchange of India Limited and Bombay Stock Exchange Limited, it said.

Here are key things to know about SGBs:

Eligibility

The SGBs will be restricted for sale to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.

Denomination

The SGBs will be denominated in multiples of gram(s) of gold with a basic unit of One gram.

Tenor

The tenor of the SGB will be for a period of eight years with an option of premature redemption after 5th year to be exercised on the date on which interest is payable.

Investment limit

Minimum permissible investment will be one gram of gold. The maximum limit of subscription shall be 4 Kg for individual, 4 Kg for HUF and 20 Kg for trusts and similar entities per fiscal year (April-March), as notified by the government from time to time. A self-declaration to this effect will be obtained from the investors at the time of making an application for subscription. The annual ceiling will include SGBs subscribed under different tranches, and those purchased from the secondary market, during the fiscal year.

Issue price

Price of SGB will be fixed in Indian rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period. The issue price of the SGBs will be less by Rs 50 per gram for the investors who subscribe online and pay through digital mode.

Redemption price

The redemption price will be in Indian rupees based on simple average of closing price of gold of 999 purity, of previous three working days published by IBJA Ltd.

Interest rate

The investors will be compensated at a fixed rate of 2.50 percent per annum payable semi-annually on the nominal value.

Tax treatment

The interest on SGBs shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual is exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of the SGB.

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Premature redemption of SGB 2017-18 Series X: Check due date, price calculation, more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The due date for premature redemption of the Sovereign Gold Bond (SGB) Scheme (Series X of SGB 2017-18) is June 4, 2023. The request for submitting premature redemption for the series was available between May 4, 2023, and May 24, 2023. The Reserve Bank of India (RBI) is yet to announce the redemption price for the series, whose issue date was December 4, 2017.

Though the tenure of the bond is eight years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates. The bond will be tradable on exchanges if held in demat form. It can also be transferred to any other eligible investor.

Calculation of redemption price of SGB

The redemption price of SGB is based on the simple average closing gold price of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA).

Quantity of gold and benefits

It must be noted that the quantity of gold for which the investor pays is protected since he/she receives the ongoing market price at the time of redemption/ premature redemption.

The SGB offers an alternative to holding gold in physical form. The risks and costs of storage are eliminated. Investors are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form. The bonds are held in the books of the RBI or in demat form eliminating the risk of loss of scrip etc, according to the central bank.

Process to exit investment

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/Post Office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

More about SGB

SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The bond is issued by Reserve Bank on behalf of the Government of India.

Persons resident in India as defined under Foreign Exchange Management Act, 1999, are eligible to invest in SGB. Eligible investors include individuals, HUFs, trusts, universities and charitable institutions. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.

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Premature redemption of SGB 2017-18 Series IX: Check due date, price, more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The due date for premature redemption of the Sovereign Gold Bond (SGB) Scheme (Series IX of SGB 2017-18) is Friday i.e. May 26, 2023. The request for submitting premature redemption for the series was available between April 27, 2023, and May 17, 2023. The Reserve Bank of India (RBI) has kept the redemption price for the series at Rs 6,046, whose date was November 27, 2017.

Redemption price calculation

The redemption price of SGB is based on the simple average closing gold price of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA).

SGB and its early encashment

Sovereign gold bonds or SGBs are issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Though the tenure of the bond is eight years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates.

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In case of premature redemption, investors can approach the concerned bank/Stock Holding Corporation Of India (SHCIL) offices/post office (PO)/agent 30 days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date, according to the Reserve Bank of India (RBI).

The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

Maturity

On maturity, these bonds are redeemed in rupees and the redemption price is based on the simple average closing price of gold of 999 purity of the previous three business days from the date of repayment, published by the India Bullion and Jewelers Association Limited.

The investors are advised one month before maturity regarding the ensuing maturity of the bond.

On the date of maturity, the maturity proceeds are credited to the bank account as per the details on record. In case there are changes in any details, such as account number, or email ids, then the investor must intimate the bank/SHCIL/PO promptly.

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You can redeem SGB 2017-18, Series VIII at 104% profit: Check due date

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India (RBI) on Friday announced that it will prematurely redeem Sovereign Gold Bonds (SGBs) originally issued in November 2017 (SGB 2017-18, Series VIII) on Saturday, May 20, 2023.

The premature redemption will be carried out at Rs 6,047 per unit, 104 percent higher than the issue price of Rs 2,961 per unit. If you were a retail investor who bought the bonds at a Rs 50 discount, the premature redemption price works out to a 107.7 percent premium to the discounted issue price of Rs 2,911 per bond.

The RBI calculates the partial redemption price on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption, as published by the India Bullion & Jewellers Association (IBJA). So the redemption price of Rs 2,961/unit of SGB is the average closing price of gold for the period between May 17 and May 19, 2023.

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As per the rules governing the issue and redemption of SGBs, the RBI can offer bondholders the option to prematurely redeem their bond holdings five years from the date of issue of that bond, on the day interest payment is due. SGBs earn the investor interest at 2.5 percent per annum, payable half-yearly. The interest rates for the SGB 2017-18 Series-VIII bonds fall on May 20 and November 20 of every year.

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/post office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date, according to the RBI. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

SGBs mature 8 years after the date of issue, at which point RBI will pay the maturity price (calculated as the simple average of the closing price of gold for 3 business days prior to the maturity date) directly into the bond-holders bank account depending on the number of units held. Bondholders will be intimated on the impending maturity & bond redemption one month prior to maturity.

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You can redeem SGB 2017-18 Series I at 111% profit: Check due date

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India (RBI) has announced the redemption price for sovereign gold bond (SGB) Series I of 2017-18 due on May 12, 2023. The premature redemption rate for the same is Rs 6,115 per unit, which is 110.7 percent above the issue price. The issue price for the same was Rs 2,901.

Redemption price calculation

The redemption price of SGB is based on the simple average of closing gold price of 999 purity, of the week (Monday-Friday), preceding the date of redemption, as published by the India Bullion and Jewellers Association Ltd (IBJA). Accordingly, the redemption price for the premature redemption due on May 12, 2023 is Rs 6,115 per unit of SGB based on the simple average of closing gold price for the week May 2-5, 2023, RBI said.

SGB and its early encashment

Sovereign gold bonds or SGBs are issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates.

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/post office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date, according to Reserve Bank of India (RBI).

The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.

Maturity

On maturity, these bonds are redeemed in rupees and the redemption price is based on simple average of closing price of gold of 999 purity of previous 3 business days from the date of repayment, published by the India Bullion and Jewelers Association Limited.

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The investors are advised one month before maturity regarding the ensuing maturity of the bond.

On the date of maturity, the maturity proceeds are credited to the bank account as per the details on record. In case there are changes in any details, such as account number, email ids, then the investor must intimate the bank/SHCIL/PO promptly.

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Gold prices surged 19% in the past year — should you invest?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In recent times, gold prices have seen a significant surge, making it an exciting time for investors who are keen on investing in this precious metal. Over the past year, gold prices in India have seen an increase of 19 percent, and as of April 2023, it is trading at Rs 60,400 per 10 grams. The recent surge has seen gold hit a record high of Rs 61,399 per 10 gm in March 2023. Additionally, silver prices are also trading at a one-year high — at Rs 76,000 per kg.

Somsundaram PR, India MD at World Gold Council, believes that the high prices of gold are keeping consumers on the sidelines. However, experts say that this is an opportune time to invest in gold as prices are likely to go even higher. With such an optimistic outlook, investors are left wondering what steps they can take to invest in this precious metal.

According to Somsundaram, one option is to invest in Sovereign Gold Bonds — government-issued securities that offer a fixed interest rate of 2.5 percent per annum. The bonds also have a tenure of eight years, with an exit option available after five years. Additionally, investors can use these bonds as collateral for loans.

Investing in Sovereign Gold Bonds provides an opportunity for investors to invest in gold without having to physically own the metal. This can be a convenient option for those who do not want to store physical gold or are looking for a long-term investment. However, it is important to note that the value of these bonds may fluctuate depending on the market conditions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow