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<ul><li>Kolkata-based <keyword id="14376953" type="General" weightage="20" keywordseo="Annapurna-Swadisht" source="Orion">Annapurna Swadisht</keyword> has received bids for ₹3,835 crore as against issue size of ₹30.25 crore.</li><li>The IPO opened for subscription from September 15 to September 19.</li><li>Shares of the company will get listed on the SME NSE platform.</li></ul>Kolkata-based Annapurna Swadisht which recently closed its IPO on September 19 has been subscribed by 190.49 times by investors. The IPO opened for subscription from September 15 to September 19. The IPO is different from the rest of the lot as it will be listed on the NSE SME platform. NSE SME is the platform at the National Stock Exchange for small and medium enterprises to list their shares publicly. The companies can migrate to the mainboard of exchange after fulfilling certain conditions. The IPO received bids of ₹3,835 crore as against issue size of ₹30.25. The price band of the IPO was at ₹68-70 per share. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45.85 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">301.13 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">225.54 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">190.49 times </td></tr></tbody></table>The company will have to mandatorily be listed and traded on the SME Platform of BSE for a minimum period of two years from the date of listing and only after that it can migrate to the main board of the NSE as per the SEBI guidelines. The company is a manufacturer of snacks and food products under its brand ‘Annapurna’ where it sells -- fryums, cakes, candy, namkeen, chips and Gohona Bori. It sells products under brand names such as Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, Kurchure, Cream Filled Cake Vanilla, Cream Filled Cake Litchi, among others. The company has two manufacturing units in Asansol and Siliguri. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹13.74 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹20.29 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹61.04 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit after tax </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹34 lakh </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹51 lakh ₹ </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2.41 crore </td></tr></tbody></table> The company plans to utilise the net proceeds from the IPO for funding the capital expenditure requirements and general corporate purposes. The IPO will be listed on exchanges on September 27. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/travel-boom-aids-oyos-numbers-as-it-revives-its-ipo-plans/articleshow/94331671.cms">Travel boom aids OYO’s numbers as it revives its IPO plans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rally-in-banking-stocks-continue-as-credit-growth-picks-margins-get-a-boost/articleshow/94324519.cms">Rally in banking stocks continue as credit growth picks &amp; margins get a boost</a>

Snack maker Annapurna Swadisht’s SME IPO is subscribed by 190 times

Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve

<ul><li>47-year-old Geeta Patil runs a homemade snacks business in Mumbai in partnership with her son, Vinit, and his friend, Darshil Savla. </li><li><keyword id="15957848" type="General" weightage="100" keywordseo="patil-kaki" source="Orion">Patil Kaki</keyword> received offers from four of the five sharks on <keyword id="11924074" type="General" weightage="80" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> S2 - <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, <keyword id="824423" type="General" weightage="50" keywordseo="peyush-bansal" source="Orion">Peyush Bansal</keyword>, Anupam Mittal, and Aman Gupta. </li><li>Patil Kaki accepted the offer by Bansal and Mittal who invested ₹40 lakh for 4% equity. </li></ul>In its second season, Shark Tank India has seen all kinds of pitches but that of Patil Kaki, a homemade snacks business, sent four of the five judges into a bidding war. This six-year-old business that started in a 200 square feet kitchen in Mumbai is run by 47-year-old Geeta Patil with two 21-year-old partners – her son Vinit Patil, and his friend Darshil Savla. While Geeta Patil, who runs the eponymous business, has been making and selling snacks ever since her husband lost his job in 2016, it’s the younger partners who gave it a digital spin. Vineet Patil and Savla are college dropouts, who at one point, set up and ran a small IT services business. They set up <a href="https://patilkaki.com/">a website for Patil Kaki </a>helping scale up the business from 15-20 orders a day to around 3,000 orders monthly, as per <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports</a>. Her chaklis, modaks, chivdas, puran poli, and even healthy snacks like makhanas which are now well-packaged well, branded, and available online – generated sales to the tune of ₹1 crore in the first five months of FY23 – as of August 2022 when the Shark Tank episodes were recorded. They hope to end the financial year with sales to the tune of ₹3 crore. “They are the emerging faces of New India. Even two years haven’t passed (since the young partners joined the business), they’ve helped you to make a business worth ₹3 crore,” commented shark and Shaadi.com’s founder Anupam Mittal after hearing their pitch on the show. <cmsannotation type="cmsannotation" annotationid="The bidding begins" comment="subhead2" text="The bidding begins">The bidding begins</cmsannotation> Patil Kaki’s products and business impressed the judges so much that the sharks were fighting for a piece of its pie. It culminated in a bidding war that saw the startup’s valuations more than double within a matter of minutes. Sugar Cosmetics CEO Vineeta Singh was the first to offer ₹40 lakh for 10% equity that valued Patil Kaki at ₹4 crore. Soon after, Aman Gupta, the co-founder of boAt, trumped it by doubling his offer — ₹40 lakh for 5% equity, valuing it at ₹8 crore. Lenskart’s co-founder Peyush Bansal and Shaadi.com’s founder Anupam Mittal then made an offer that Kaki couldn’t refuse — ₹40 lakh for 4% equity that valued it at ₹10 crore. Gupta too matched their offer and wanted to be a solo investor in the company but the Patil Kaki founders accepted the Bansal and Mittal’s joint offer. <cmsannotation type="cmsannotation" annotationid="Inspired by her ‘aai’" comment="subhead2" text="Inspired by her ‘aai’">Inspired by her ‘aai’</cmsannotation> Geeta Patil started selling homemade food after she was inspired by her own aai or mother who whipped up tiffins for 20 people every day, <a href="https://www.thebetterindia.com/286270/mom-sells-authentic-maharashtrian-food-in-mumbai-pune-earns-crores/">reports </a>The Better India. She had been making and selling food out of passion before 2016. But afterwards, she converted it into a proper business as she had to shoulder the responsibility of running the household. “I couldn’t afford to take it easy any longer. The first order came from a family in Khar. The best part is that even today, we get orders from them regularly,” shared Geeta with The Better India. Slowly, she started getting orders from offices too. However, it was the pandemic that pushed her to prepare and sell dry snacks too. “We started by serving breakfast at the BMC office. Impressed by our cooking, the employees got a letter from the ward office, allowing us to serve them at the office. However, when the lockdown started, the problems started again. That’s when I started with snacks like chakli, chivda, etc,” said Patil on the show. To cater to the growing business, the team took up a 1,200 sq ft space in Santacruz. Patil Kaki hired its first employee in 2019 and now has a team of <a href="https://patilkaki.com/about-us/">25 people</a>. It claims that 75% of its workforce consists of women who’re working for the first time. <cmsannotation type="cmsannotation" annotationid="Investors bite into snacks businesses" comment="subhead2" text="Investors bite into snacks businesses">Investors bite into snacks businesses</cmsannotation> Foodtech industry has been one of the fastest-growing businesses amongst startups. Even public market investors have taken a shine to two snacks companies that listed on the stock markets late last year. Both the companies – <a href="https://www.businessinsider.in/stock-market/news/bikaji-stocks-why-investors-continue-to-snack-on-this-stock/articleshow/95757704.cms">Bikaji Foods</a> and Annapurna Swadisht raised ₹881 crore and ₹30 crore respectively via public offers. They also received strong investor response for the offers in the form of subscriptions, and also provided listing gains to their investors. Uniquely both these snack companies are skewed heavily towards Indian snacks. Bikaji, that’s endorsed by Amitabh Bacchan, is known for its namkeens like Bhujiya, Jalmuri and sweets like Kaju Katli and more. Kolkata-based Annapurna Swadisht is known for sweets like Gohona Bori in addition to chivdas, chips, and more. SEE MORE: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/glass-free-3d-oled-laptop-to-portable-laser-tv-heres-a-look-at-all-futuristic-imaging-and-display-tech-at-ces-2023/articleshow/96789252.cms">Glass-free 3D OLED laptop to portable laser TV: Here’s a look at all futuristic imaging and display tech at CES 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-gear-head-motor-rides-high-secures-funding-from-aman-gupta-and-peyush-bansal/articleshow/96785906.cms">Shark Tank India: Gear Head Motor rides high, secures funding from Aman Gupta and Peyush Bansal</a>

An aai and two college dropouts’ home snacks biz sends Shark Tank judges into a bidding war

<ul><li>Technology solutions like in-work systems enable <keyword id="18966" type="General" weightage="80" keywordseo="hotel" source="Orion">hotel</keyword> guests to use more self-service alternatives, significantly reducing staff responsibilities while enhancing customer satisfaction.</li><li>Leveraging tech tools has helped hotels direct employees towards urgent and high-priority activities that require personalised engagement and support.</li><li>Few hoteliers will forget 2020 in a hurry. With hotels forced shut, almost 40% employees lost their jobs while an equivalent number suffered salary cuts and furloughs, according to consulting firm HVS Anarock.</li></ul>Faced with a manpower glut, stringent social distancing norms, evolved guest expectations and massive drop in occupancy, hotel companies turned to technology to overcome these challenges. Samir MC, managing director of Fortune Park Hotels, a member of ITC Hotels Group, recalled how solutions like in-work systems, which enabled guests to use more self-service alternatives, significantly reduced staff responsibilities and enhanced customer satisfaction. "Mobile check-in and self-ordering technology in restaurants make it simpler to check into hotels without requiring one-on-one interaction from hotel staff. Moreover, frequent or foreseeable activities can be handled automatically, through the use of technology," he added. <cmsannotation type="cmsannotation" annotationid="Flagging off the digital journey" comment="subhead" text="Flagging off the digital journey">Flagging off the digital journey</cmsannotation> Besides digitalizing most of its communication and offerings to drive business, ITC Hotels undertook steps like QR code-enabled communication in rooms, digital menus and contactless payment options as it adapted to the new normal. In fact, QR codes for all collaterals, digital menus in restaurants, digital invoices, WhatsApp bot for guest interaction, and even a press reader for newspapers became par for the course. Hotel Manager <keyword id="127335" type="General" weightage="50" keywordseo="prashant-chadha" source="Orion">Prashant Chadha</keyword> recalled how The Westin Mumbai Powai Lake’s operations continue to remain tech-driven from the perspective of guest navigation, housekeeping and F&amp;B services. "Our keyless check-ins and QR codes at restaurants ensured the need for lesser staffing. However, going completely remote and tech-driven is not the objective; rather the focus is being tech-savvy in our operations while considerate of our guests’ needs," he added. <cmsannotation type="cmsannotation" annotationid="Customers sound the tech call" comment="subhead" text="Customers sound the tech call">Customers sound the tech call</cmsannotation> Stressing on creating a ‘digital advantage’ during the company's 2021 earnings call, IHG Hotels &amp; Resorts' CEO Keith Barr said, "This is vital to enabling a seamless technology experience across the guest journey, from driving direct bookings and creating integrated digital experiences for our guests to delivering revenue-enhancing solutions for our owners." In 2021, the company partnered with Josh.ai to pilot a voice-controlled smart room at California’s Kimpton Rowan hotel. Since occupancies were in single digits in early 2021, hotel companies concentrated on the events business, which had switched to the hybrid model. IHG partnered with <keyword id="15041118" type="General" weightage="50" keywordseo="weframe" source="Orion">WeFrame</keyword> for its ‘Meet with Confidence’ global programme, while Hyatt collaborated with Swapcard platform to debut ‘Together By Hyatt’ in April 2021. Raoof Dhanani, managing director at Sayaji Hotels, explains that most hotels also started using Artificial Intelligence (AI)-driven chatbots with inbuilt booking engines to increase direct bookings and capture guest data at the same time. "It also sends automated emails, location, availability, quote and property images and videos to the guests as per their requirement," he noted. Having tasted the fruits of technology, <keyword id="183920" type="General" weightage="50" keywordseo="marriott-international" source="Orion">Marriott International</keyword> went a step further and launched the Marriott Design Lab at its Bethesda headquarters this January. Rather than work in isolation to accelerate the development and deployment of new technologies, it collaborated with companies like Carrier and LG to optimise HVAC efficiency in modular hotel designs, adding more vendors to this list. <cmsannotation type="cmsannotation" annotationid="Out with the old" comment="subhead" text="Out with the old">Out with the old</cmsannotation> After a long journey, contemporary hotel guests often want to grab a shower and a meal rather than engage with hotel staff. A Skift study titled 'Hospitality in 2025: Automated, Intelligent and More Personal' found that 73% travellers want to use their mobile device to manage their hotel experience, including checking in and out, paying, ordering food, and more. Aware that fulfilling these needs, or at least meeting it halfway, is key to winning guest attention and thereby their loyalty, hoteliers are increasingly mindful of their tech investments. A first mover, Marriott, for instance, rolled out IoT services as early as 2018, signing up to Amazon's Alexa for Hospitality room assistant technology to allow voice control functionality to be installed in guestrooms. Integrating IoT technology gives guests the power to customise their room settings, including lighting, temperature and curtains. Moreover, since employees can remotely monitor the performance of in-room devices, it means lesser staff on the floor. Additionally, hotels can conserve energy costs by turning off heating or air conditioning when the room is unoccupied. <cmsannotation type="cmsannotation" annotationid="An eye on the cost" comment="subhead" text="An eye on the cost">An eye on the cost</cmsannotation> By leveraging technology, hotels can direct a lean workforce towards urgent and priority tasks that require personalised engagement and support, thus easing their workload. Moreover, it can simplify their HR procedures, reduce expenses and also boost revenue generation by cross-selling services. Imagine visiting the hotel's spa and getting a discount on a healthy breakfast the next day! Chadha believes that the more efficient the processes, the less time is wasted, which reduces costs and increases productivity and revenue. "As compared to 2019, our operating costs have gone down, with a significant rise in efficiency. This has happened by streamlining tasks and improving our overall quality and reliability," he states. However, these tech deployments come with a caveat – don’t lose the human touch. <keyword id="1417520" type="General" weightage="50" keywordseo="rohit-pandey" source="Orion">Rohit Pandey</keyword>, Hotel Manager of Leela Bhartiya City Bengaluru notes that while technology and automation help bring better efficiency, the service industry cannot operate without the human touch or interaction and personalisation. "Whilst designing the standard operating procedures for the hotel and planning on technology; we smartly adapt systems to smoothen guest journeys. All human touch points remain intact or are enhanced with technology’s adaptation," he emphasised. The hospitality industry traditionally underinvested in technology, spending less than 5% of their net room revenue. However, digitalisation is now on every hotelier's mind. Using it mindfully will help them create a frictionless guest experience and bring down operating costs while navigating the labour shortage, making it a win-win situation for all. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-investment-corporation-stock-almost-doubled-investors-money-in-just-six-months/articleshow/94336887.cms">This Tata group stock doubled investors money in just six months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/snack-maker-annapurna-swadishts-sme-ipo-is-subscribed-by-190-times/articleshow/94332255.cms">Snack maker Annapurna Swadisht’s SME IPO is subscribed by 190 times</a>

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Snack maker Annapurna Swadisht’s SME IPO is subscribed by 190 times

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Small is the new big: SME IPOs double in 2022, while mainboard IPOs halve

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Saving costs, managing manpower, enhancing guest experience: The various ways technology is helping the hospitality industry

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