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New Delhi: After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September. <br /><br />IPOs scheduled for next week, beginning October 7, are <keyword id="22922418" type="General" weightage="20" keywordseo="Garuda-Construction" source="keywords">Garuda Construction</keyword> and Engineering on the main board and <keyword id="23436926" type="General" weightage="20" keywordseo="Shiv-Texchem" source="keywords" meta.keywordsubtype="org" meta.entityname="Shiv Texchem" meta.hostid="153" meta.entityid="Shiv Texchem">Shiv Texchem</keyword> on the SME segment. <br /><br />Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10. <br /><br />The stock market has seen a significant correction in the <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> since the start of October amid intensifying conflict between Israel and Iran. <br /><br />Despite the temporary slowdown, overall, the outlook for the <keyword id="19926041" type="General" weightage="100" keywordseo="IPO-market" source="keywords">IPO market</keyword> is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi's approval while another 55 companies looking to garner about Rs 89,000 crore are awaiting the regulator's clearance, according to the Primedatabase. <br /><br />This month will see <keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords">Hyundai Motor India</keyword> Ltd, the Indian arm of South Korean automaker Hyundai, hitting the primary market to raise around Rs 25,000 crore. The company's IPO is likely to be launched on October 14, according to sources. <br /><br />If the offering proceeds as planned, it will surpass Life Insurance Corporation's (LIC) public offering of Rs 21,000 crore, becoming the largest IPO in India's history. <br /><br />Moreover, 63 companies have already mobilised around Rs 64,000 crore via mainboard, marking a 29 per cent increase from Rs 49,436 crore collected by 57 firms through the route in 2023. <br /><br />The strong momentum in IPO markets is being driven by several key macroeconomic, sector-specific factors and the willingness of funds to look at new ideas. In particular, strong inflows into domestic mutual funds and robust capital formation across corporate India are playing key roles, experts said. <br /><br />Garuda Construction and Engineering's IPO is a mix of fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures. The price band has been fixed at Rs 92 to Rs 95 per share. <br /><br />About Rs 100 crore from its fresh issuance proceeds will be utilised for working capital requirements and the balance towards general corporate purposes, including unidentified inorganic acquisitions. <br /><br />Shiv Texchem's IPO is a completely new offering of over 61 lakh shares and is a book-built issue of Rs 101.35 crore. It has set a price band of Rs 158 to Rs 166 per equity share for the IPO. <br /><br />Further, the SME IPO of Khyati Global Ventures, which opened for public subscription on October 4, will close on October 8. <br /><br />Additionally, six companies from the SME segment are set to list in the coming week. HVAX Technologies and Saj Hotels will debut on October 7, followed by Subam Papers and Paramount Dye Tec on October 8. <br /><br />NeoPolitan Pizza and Foods will begin trading on October 9, with Khyati Global Ventures to follow on October 11.

IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul class="summary-list"><li><strong>A YouTuber could face criminal charges after sharing a photo of a hand-drawn in-flight menu on his Garuda Indonesia flight that then went viral.</strong></li><li><strong>Rius Vernandes shared the image and later shared a video where he said he wasn't trying to hurt the airline's reputation. The airline later said that the menu was meant for one crew member's own use.</strong></li><li><strong>But Rius later said he had been reported to the police for defamation, and a news agency said police confirmed the airline had sued him. Indonesia's laws mean those found guilty could face years in jail.</strong></li><li><strong>The airline also sought to ban photos and videos during flights, but appeared to backtrack to The Guardian newspaper by saying the policy was not"finalized" and people could take photos if they did not disturb other passengers.</strong></li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet" target="_blank" rel="noopener">Visit Business Insider's homepage for more stories.</a></strong></li></ul><p>Indonesia's flagship airline, Garuda Indonesia, tried to ban in-flight photos and a YouTuber could face criminal charges after he shared a photo of the airline's hand-written menu that was then mocked online.</p><p>Rius Vernandes, who has 121,000 followers on Instagram and 500,000 subscribers on YouTube and often reviews his flights, shared an image of the menu on his business-class flight on Saturday with the caption "<span>The menu is still being printed sir," <a href="https://www.theguardian.com/world/2019/jul/18/indonesian-airline-bans-in-flight-photos-after-being-mocked-for-handwritten-menu">The Guardian reported</a>.</span></p><p><span>The menu, written on a white piece of paper, showed options including beef steak and c</span><span>rème brûlée.</span></p><p><span>The image then went viral in Indonesia, and Rius made a video about the topic on Sunday, where he promised to share "What really happened, behind Garuda's business class handwritten menu."</span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></span></p><p><span>In it, he shared footage of the flight, including the menu, and talked to the camera, claiming that he did not mean to harm Garuda Indonesia's reputation. The airline told <a href="https://www.straitstimes.com/asia/se-asia/indonesian-carrier-garuda-tells-passengers-no-photos-videos-inside-cabin">press agency DPA</a>&#xa0;that the menu was made by a cabin crew member to use themselves, and that it was not supposed to be given to passengers.</span></p><p>&#xa0;</p><p><span>In an internal memo on Sunday, seen by The Guardian, the airline announced that it was banning crew and passengers from taking photos and videos in-flight.</span></p><p><span>But Garuda's corporate secretary, Ikhsan Rosan, said on Tuesday that this policy had "not yet been finalised, and should not have been shared to the public," The Guardian reported.</span></p><p>"People can still take pictures [on board our flights] for their own use," he said, "as long as they don't disturb the other passengers".</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/indonesia-garuda-airline-cancels-5bn-boeing-737-max-8-order-2019-3" data-analytics-position="14">Indonesia's flagship airline moves to cancel $5 billion order for 49 Boeing 737 Max 8 jets after deadly crashes</a></em></p><p><span>In an Instagram post on Tuesday, Rius said that he had been reported to the police for defamation, but that he had "no intention at all to defame anyone."</span><span></span></p><p><span>Police <a href="https://www.straitstimes.com/asia/se-asia/indonesian-carrier-garuda-tells-passengers-no-photos-videos-inside-cabin">confirmed to DPA</a>&#xa0;that the airline, which is Indonesia's national airline, had filed a defamation case against him.</span></p><p><span>Garuda Indonesia could not immediately be reached for comment by Business Insider.</span></p><p>&#xa0;</p><p><span>Indonesia's laws mean someone found guilty of defamation can <a href="https://www.hg.org/legal-articles/defamation-and-privacy-law-in-indonesia-5913">spend years in prison</a>, and the country also has strict laws that <a href="https://www.ssek.com/id/blog-id/defamation-under-indonesian-law">regulate internet activity</a> and include criminal punishment people found guilty of sharing electronic information or documents that defame others. </span></p><p><span>Those found guilty can be met with a fine of up to one billion rupiah ($71,600) or six years in prison.</span></p><p><span>Rius asked for his followers' help, calling on other influencers in particular, and said: "</span><span>You all have a voice."</span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></span></p><p><span>He said that the support was needed so that people who give "constructive" reviews won't be seen as "criminal."</span></p><p><span>While saying he wasn't afraid, Rius&#xa0;said that he wanted to find a different way to solve the dispute.</span></p><p>Rius has been met with an outpouring of <a href="https://twitter.com/priambodo/status/1150114138284158977">support</a> on his social <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> accounts, and some passengers have also told Garuda that they will <a href="https://twitter.com/guvner067/status/1151376759893315584">not fly with the airline</a> if they pursue legal action against him.</p><p>Garuda was <a href="https://www.businessinsider.com/best-airlines-in-the-world-2019-skytrax-rankings-2019-6?r=US&amp;IR=T">ranked as the world's 12th-best airline</a> for 2019 by <span>consumer-aviation website&#xa0;</span><a href="https://www.worldairlineawards.com/">Skytrax</a>.</p><div></div><div>    </div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/boeing-737-max-airplane-crash-incidents-recover-lawsuits-scrutiny-2019-7">Will Boeing recover from the 737 Max crisis?</a></h3>        <div>                    </div>    </div>

An YouTuber could face criminal charges after a picture he posted of a hand-written in-flight menu on Indonesia's flagship airline went viral

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IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

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An YouTuber could face criminal charges after a picture he posted of a hand-written in-flight menu on Indonesia's flagship airline went viral

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