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<ul><li>The three-day public issue will begin on March 15 and close on March 17.</li><li>Laxmi Organic is currently among the <keyword id="10896738" type="UNKNOWN" weightage="20" keywordseo="largest-manufacturers">largest manufacturers</keyword> of <keyword id="7761571" type="UNKNOWN" weightage="20" keywordseo="Ethyl-acetate">ethyl acetate</keyword> in India, with a market share of approximately 30% of the Indian ethyl acetate market.</li><li>The company’s profit grew by nearly 4.56% to ₹70.21 crore in FY20 (YoY).</li></ul>The ₹600 crore initial public offering (IPO) of speciality chemical manufacturer Laxmi Organic Industries is scheduled to hit the capital markets on March 15. The company has fixed a price band of ₹129-130 a share for its IPO. The three-day public issue will close on March 17. The company said it has decided to place pre-IPO placement by issuing 15.50 million equity shares aggregating up to ₹200 crore. The company is a leading manufacturer of acetyl intermediates and specialty intermediates with almost three decades of experience in the large scale manufacturing of chemicals. Laxmi Organic is currently among the largest manufacturers of ethyl acetate in India, with a market share of approximately 30% of the Indian ethyl acetate market, according to <keyword id="6375760" type="DOMAIN" weightage="20" keywordseo="axis-capital">Axis Capital</keyword>. Laxmi Organic Industries IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 15 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 17 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹129-130 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">115 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital and DAM Capital are the book running lead managers for its public offering IPO. Laxmi Organic Industries: All you need to know <ul><li>The company has a diversified product portfolio in various high growth industries including pharma, agro chem, paints and coatings, printing, packaging, dyes and pigments.</li><li>The company has its business spread over 30 countries.</li><li>Laxmi Organic is the only manufacturer in India of diketene derivatives with a market share of approximately 55% in terms of revenue in fiscal year 2020. Diketene derivatives are used in the pharmaceutical, vitamin, agrochemical and pigment industries.</li><li>Laxmi Organic also proposes to diversify into the manufacturing of speciality fluorochemicals. They have recently acquired assets, including plant and machinery, design and operating paperwork.</li><li>Its revenue from operations increased by 12.59% to ₹1,568.52 crore in March 2019 (YoY). However, in March 2020, the revenue dipped 19% compared to the corresponding year-ago period.</li><li>However, the company’s profit grew by nearly 4.56% to ₹70.21 crore in FY20 (YoY).</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a> <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a>

Laxmi Organic IPO is slated to hit capital markets next week — price band set at ₹129-130 a share

In a recent blog post, <keyword id="6354720" type="PERSON" weightage="80" keywordseo="Ola">Ola</keyword>’s first full time employee and current Chief Operating Officer Ola COO <keyword id="2904207" type="UNKNOWN" weightage="80" keywordseo="Pranay-Jivrajka">Pranay Jivrajka</keyword> has leveled serious charges against segment competitor Uber. He alleges the latter is fanning ‘a debate of nationalism to hide their identity of being a multi-national’. He also alleges the competition has ‘serial violations of law as an integral part of its business strategy’. 
 
In his post Jivrajka claims Ola has partnered with the Indian government, even at a ‘serious business expense’ to itself. He says the onus is on the business to work with the Government and evolve the ecosystem further in a partnership mode. Citing the example of Uber’s ‘card on file’ payment system and bike taxis in Gurgaon, Jivrajka claims the competition is running a business despite ‘multiple notices and seizures of hundreds of vehicles.’ 
 
The company executive goes on to say that while during the Delhi Diesel ban, Ola was committed to 100% CNG adoption, Uber continued to ply diesel vehicles with ‘absolute disregard for the state and the court of law’. 
 On Monday, Ola filed in the <keyword id="6371973" type="ORGANIZATION" weightage="100" keywordseo="Karnataka-High-Court">Karnataka High Court</keyword> saying that it has complied with all requirements to continue operating. This was to counter to a petition by rival <keyword id="2502101" type="UNKNOWN" weightage="100" keywordseo="Uber-India">Uber India</keyword> which challenged the Karnataka On-Demand Transportation Technology Aggregator Rules, 2016. 
 
Ola said Uber’s petition is motivated in an “attempt to bypass the laws of the land by foreign companies who run their operations in this country for profit without due regard for the applicable laws”. 
 
Both Ola and Uber have been fighting a bloody price war to gain market share in India.

Ola COO Pranay Jivrajka calls Uber ‘disrespectful’ of
India’s laws

Cab aggregators like <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword> and <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> have become an essential part of our lives for just the sheer amount of convenience they provide. Except for the surge-pricing which is a mild inconvenience for us, our lives have become much simpler with these on-demand cars. 
 Every state government has been dealing with the continuous strikes by the kali- peeli taxi unions and auto rickshaw <keyword id="44435" type="ORGANIZATION" weightage="20" keywordseo="drivers">drivers</keyword>. <keyword id="13126" type="COMPANY" weightage="100" keywordseo="Maharashtra">Maharashtra</keyword> government had released the draft for Maharashtra City Taxi Rules, 2016, to regulate app-based operators but these rules are detrimental to the ecosystem itself. 
 
<a href="http://www.businessinsider.in/Now-you-can-list-your-car-for-rent-and-get-paid-for-it/articleshow/55154351.cms">ALSO READ: Now, you can list your car for rent when it's not in use and get paid for it</a> 
 
According to the guidelines, an application for grant or renewal of a license for a taxi will cost INR 1,00,000 and on top of that the license itself will cost INR 25,000 for cars up to engine capacity of 1,400 CC and for higher capacity engines typically sedans, the license will cost INR 2,61,000! Between Ola and Uber there are about 20,000-40,000 cars plying in the state, and about half of them are sedans according to Ola. 
 
Now, as taxi-aggregators are just a platform, these costs, if implemented will be transferred to drivers and then, ultimately consumers. <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> caught up with two Ola drivers to find out how this will affect their already dwindling livelihoods. 
 <keyword id="3836339" type="UNKNOWN" weightage="20" keywordseo="jia-ul-haq">Jia-Ul-Haq</keyword>, a car operator said- ‘While Ola has given us a lot of employment, our salaries have been decreasing, year-on-year. The new guidelines will leave us with nothing and close to the brink of poverty. We are already paying for auto loans, car insurance and this will make sure that we don’t even get the INR 20,000, which we earn right now.’ 
 <keyword id="1194067" type="PERSON" weightage="20" keywordseo="Mohammed-Nazim">Mohammed Nazim</keyword> who works with four Ola drivers said,’ Where is the development in this? It is all about the inconvenience. The cost will be ultimately transferred to the customers otherwise these charges will put us further into debt.’ 
 
Pranay Jivrajka, COO, Ola talked to us to talk about an alternative scheme which is very inclusive in nature and enables and gives an opportunity for aggregators to bring all forms of mobility on the platform. This also allows the traditional cabs to join. 

	 
	He said ‘If a driver has to buy a vehicle, he saves up INR 40-70,000 right now to get the car on road, but permit costs are projected to get as high as INR 3.5 lakh. <a href="http://www.businessinsider.in/A-survey-reveals-60-of-employed-Indians-aspire-to-be-entrepreneurs/articleshow/55152360.cms">It will be quite difficult for a driver to turn into an entrepreneur.</a> No one gives loans on permits fees. This will drastically impact the growth of supply and therefore growth of industry.’ 
	 
	All of this, in the financial capital of India, where the taxi unions <a href="http://www.businessinsider.in/Nazara-is-creating-mobile-games-for-cricketers-like-Virat-Kohli-and-Sachin-Tendulkar/articleshow/55371180.cms">seem to be running the show, instead of their vehicles.</a>

EXCLUSIVE: Your Uber, Ola rides could get much more expensive if it were up to the Maharashtra government

<keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword> has signed an MoU with the government of Haryana to create over 10,000 entrepreneurs in the state. As part of the MoU, Ola will invest Rs. 350 crores over the next five years to skill and train thousands of men and women to join Ola. The partnership will also allow the online taxi hailing app to introduce its products across the state. 
 
“We are confident that our partnership with Ola will further accelerate government’s efforts of pumping the economic development of the state with a focus on skilling and creating entrepreneurial opportunities for tens of thousands of men and women across the state.”, Sudhir Rajpal, Managing Director of HSIIDC said. 
 
Pranay Jivrajka, Chief Operating Officer at Ola said, “We are planning to invest over Rs. 350 crore in Haryana over the next 5 years. We will work with the government to train and provide the right skill set to thousands of men and women across Haryana and help them take their first step towards entrepreneurship.” 
 
Ola is currently present in five cities in Haryana including Gurgaon, Faridabad, Panchkula, Kurukshetra and Ambala and plans to expand its services in the region further. 
 
<a href="http://media.indiatimes.in/media/content/2015/Jun/ola-cabs_1433755676_725x725.jpg">Image Source</a>

Ola looking to invest Rs. 350 crores in Haryana

Actor politician Kamal Haasan-led <keyword id="6264434" type="UNKNOWN" weightage="20" keywordseo="Makkal-Needhi-Maiam">Makkal Needhi Maiam</keyword> has finalised a seat sharing pact with two of its allies for the April 6 Assembly polls and it is set to contest from 154 segments out of the 234 constituencies. MNM inked an agreement with actor-politician <keyword id="375764" type="PERSON" weightage="20" keywordseo="Sarathkumar">Sarathkumar</keyword>'s All India Samathuva Makhal Katchi and Indiya Jananayaka Katchi to jointly fight the polls. According to the understanding reached here late last night, AISMK and IJK would contest from 40 seats each. The primary goal was to contest polls in alliance with a "promise for change and emerge victorious to form the government," the agreement said. The parties have committed to the common goal of transforming Tamil Nadu by fulfilling the long pending aspirations of the people, the pact said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a> <a href="https://www.businessinsider.in/tech/mobile/news/moto-g30-review-a-decent-budget-phone-with-a-bloat-free-user-experience/articleshow/81407278.cms">Moto G30 review – a decent budget phone with a bloat-free user experience</a> <a href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a>

Kamal Haasan's party  set to contest from 154 Assembly segments out of 234 constituencies

Actor <keyword id="6357861" type="UNKNOWN" weightage="20" keywordseo="ranbir-kapoor">Ranbir Kapoor</keyword> has tested positive for <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword>. He is on medication and living in quarantine at home. Ranbir's mother <keyword id="3608" type="PERSON" weightage="20" keywordseo="Neetu-Kapoor">Neetu Kapoor</keyword> took to Instagram on Tuesday to share her son's health update. Sharing a photo of Ranbir, Neetu wrote: "Thank you for your concern and your good wishes. Ranbir has tested positive for Covid-19. He is on medication and recovering well. He is in self quarantine at home and following all precautions." Commenting on Neetu's post, fans and followers shared their wishes for Ranbir's speedy recovery. Ranbir's sister Riddhima Kapoor Sahni also took to her Instagram story to share a selfie with her ailing brother. Neetu Kapoor had contracted the coronavirus in December last year while shooting for the upcoming film "Jug Jugg Jeeyo" in Chandigarh. On the work front, Ranbir has lately been busy shooting for Ayan Mukerji's action fantasy film "Brahmastra" alongside rumoured girlfriend Alia Bhatt. The film also stars Amitabh Bachchan, Nagarjuna Akkineni and Mouni Roy. However, it is being speculated that shoot will be temporarily stalled with the lead actor contracting Covid-19. Ranbir's next release is "Shamshera" on June 25. The Karan Malhotra film is an action drama co-starring Sanjay Dutt and Vaani Kapoor, and is produced by Yash Raj Films. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a> <a href="https://www.businessinsider.in/business/news/tata-dials-up-another-acquisition-talk-with-indias-discovery-platform-just-dial-whose-stock-is-up-by-7/articleshow/81390468.cms">Tata dials up another acquisition talk – with India’s discovery platform Just Dial, whose stock is up by 7%</a>

Bollywood actor Ranbir Kapoor tests positive for COVID-19

<keyword id="6409600" type="COMPANY" weightage="20" keywordseo="PUBG-MOBILE">PUBG Mobile</keyword> developer Krafton has invested $22.4 million in the homegrown esports <keyword id="10894401" type="UNKNOWN" weightage="20" keywordseo="company-nodwin-gaming">company Nodwin Gaming</keyword>, the media reported on Tuesday. According to <keyword id="179988" type="COMPANY" weightage="20" keywordseo="TechCrunch">TechCrunch</keyword>, the aim is to "maintain some presence in what was once its key overseas market" after the ban on <keyword id="4998506" type="PERSON" weightage="20" keywordseo="pubg">PUBG</keyword> along with several other Chinese apps last year (although Krafton is a South Korea-based firm). "With Krafton coming on board, we have an endorsement from the mecca of <keyword id="6357332" type="UNKNOWN" weightage="20" keywordseo="Gaming">gaming</keyword> and esports -- South Korea -- on what we are building from India for the world based on our competence in mobile first markets," Akshat Rathee, co-founder and managing director of <keyword id="3492146" type="COMPANY" weightage="20" keywordseo="Nodwin-Gaming">Nodwin Gaming</keyword>, said in a statement. In a bid to re-enter the India market, <keyword id="9900533" type="COMPANY" weightage="20" keywordseo="pubg-corporation">PUBG Corporation</keyword> in November said it is making a comeback with the creation of an Indian subsidiary and a new game. With its South Korean parent company Krafton, PUBG Corp said it plans to make investments worth $100 million in India to cultivate the local video game, esports, entertainment, and IT industries. Changhan Kim, CEO of Krafton, said that the company is excited to partner with Gurugram-based Nodwin Gaming to help foster the promising esports ecosystem and engage with our fans and players in India. The immensely popular PUBG Mobile app was among the 118 Chinese apps that the Indian government banned in September over national security concerns. To get the ban lifted, PUBG Corp made the decision to no longer authorise the PUBG Mobile franchise to China-based <keyword id="6151051" type="UNKNOWN" weightage="20" keywordseo="Tencent-Games">Tencent Games</keyword> in India. The Indian subsidiary will hire over 100 employees specialising in business, esports, and game development, PUBG Corp had said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a> <a href="https://www.businessinsider.in/science/environment/news/europes-tallest-active-volcano-has-been-spewing-lava-for-three-weeks-and-now-its-raining-stones-and-ash-on-the-villages-below/articleshow/81389837.cms">Europe’s tallest active volcano has been spewing lava for three weeks — and now its raining stones and ash on the villages below</a> <a href="https://www.businessinsider.in/business/news/tata-dials-up-another-acquisition-talk-with-indias-discovery-platform-just-dial-whose-stock-is-up-by-7/articleshow/81390468.cms">Tata dials up another acquisition talk – with India’s discovery platform Just Dial, whose stock is up by 7%</a>

PUBG's South Korean parent invests $22.4 million in Indian esports company Nodwin Gaming

India spinner Ravichandran <keyword id="17006" type="PERSON" weightage="20" keywordseo="Ashwin">Ashwin</keyword> was <keyword id="24" type="PERSON" weightage="20" keywordseo="award">award</keyword>ed the <keyword id="6355164" type="UNKNOWN" weightage="20" keywordseo="ICC">ICC</keyword> Player of the Month award for <keyword id="47317" type="ORGANIZATION" weightage="20" keywordseo="February">February</keyword>, the International Cricket Council (ICC) said on Tuesday. Ashwin beat England captain Joe Root and West Indies' Kyle Mayers to the award thanks to his all-round performances for India in their home series against England. Ashwin, 34, played a crucial role with bat and ball as India raced to a 2-1 lead over England in their four-match Test series in February before eventually winning the series 3-1 in March. He was the highest wicket-taker in the series with 32 scalps and scored a century in the second Test in Chennai. Meanwhile, England opener Tammy Beaumont won the ICC Women's Player of the Month for February. Beaumont was the overwhelming winner after she played three ODIs in February against New Zealand where she passed fifty in each of these, totalling 231 runs. She beat her teammate Natalie Sciver and New Zealand's Brooke Halliday to the award. "Ashwin's consistent wicket taking, even in helpful conditions have helped to put his team ahead in a very important series. His century in the second Test was as critical as it came when England were trying to claw their way back into the match. That knock ensured that India shut the door on the opposition," said former West Indies fast bowler Ian Bishop, representing the ICC Voting Academy. "Three half centuries of which two were in helping her team win the match was outstanding from Beaumont. Particular emphasis on the fact that two of the knocks were unbeaten innings, and coming inevitably, on two occasions whilst having lost her opening partner early on, she had to see things through for her team, which was incredible," said Bishop. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a> <a href="https://www.businessinsider.in/tech/mobile/news/moto-g30-review-a-decent-budget-phone-with-a-bloat-free-user-experience/articleshow/81407278.cms">Moto G30 review – a decent budget phone with a bloat-free user experience</a> <a href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a>

Ravichandran Ashwin wins ICC Player of Month award for February

<ul><li>The ₹150 crore IPO of Craftsman Automation will open on March 15.</li><li>It plans to use the funds to repay its ₹120 crore debt and for general corporate purposes.</li><li>The company’s comprehensive solutions include design, process engineering and manufacturing, including foundry, heat treatment, fabrication, machining and assembly facilities.</li><li>Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra &amp; Mahindra, Royal Enfield, Siemens, Escorts, and Ashok Leyland. </li></ul>The ₹150 crore initial public offering (IPO) of auto and engineering components maker Craftsman Automation is set to hit the capital markets on March 15. The company has fixed a price band of ₹1,488–1,490 a share for its IPO. The three-day public issue will close on March 17. It plans to use the funds to repay its ₹120 crore debt and for general corporate purposes. Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in 3 business segments <ul><li>Automotive — powertrain and others</li><li>Automotive — aluminium products</li><li>Industrial and engineering.</li></ul>Craftsman Automation IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 15 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 17 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,488–1,490 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital and IIFL Securities are the book running lead managers for its public offering IPO. Craftsman Automation: All you need to know <ul><li>The company’s comprehensive solutions include design, process engineering and manufacturing, including foundry, heat treatment, fabrication, machining and assembly facilities.</li><li>It owns and operates 12 strategically located manufacturing facilities across 7 cities in India.</li><li>Craftsman has relationships with several marquee domestic and global OEMs as well as component manufacturers. Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra &amp; Mahindra, Royal Enfield, Siemens, Escorts, and Ashok Leyland.</li><li>The company has received funding from global investors such as International Finance Corporation (IFC) and Marina III Singapore Pte Ltd. Presently, IFC and Marina have 14.06% and 15.50% shareholding, respectively, in the company.</li><li>Its revenue from operations increased by 20% to ₹1,818 crore in March 2019 (YoY). However, in March 2020 the revenue dipped 17% in the corresponding year-ago period.</li><li>The company’s profit also plunged nearly 59% to ₹57.39 crore in FY20 (YoY).</li></ul> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a> <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a>

Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490

In yet another fillip to the Make in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> and <keyword id="1235695" type="PERSON" weightage="20" keywordseo="domestic-manufacturing">domestic manufacturing</keyword> dream of the Indian government, <keyword id="6354427" type="ORGANIZATION" weightage="20" keywordseo="apple">Apple</keyword> said on Tuesday that its flagship and environment-friendly <keyword id="8291932" type="UNKNOWN" weightage="20" keywordseo="iPhone-12">iPhone 12</keyword> smartphone will soon be produced in India for the local customers. The news comes at a time when the iPhone 12 series has received stupendous response in the country. "We are proud to be starting <keyword id="22637" type="COMPANY" weightage="20" keywordseo="production">production</keyword> of iPhone 12 in India for our local customers," Apple told IANS in a statement. "Apple is dedicated to making the best products and services in the world to delight our customers," the company added. Despite arriving in October, the iPhone 12 contributed significantly towards the rise of Apple in the festive quarter (October-December period) in the country, according to market intelligence firm CyberMedia Research (CMR). Apple registered over 60 per cent growth (on-year) in its India business in the full year 2020 while for the festive quarter, the growth was an impressive 100 per cent (YoY) and iPhone 12 contributed significantly towards it. "With its recent market gains in India, Apple is positioned for aggressive growth in the upcoming quarters. The local assembly of iPhone 12 in India will give a further fillip to its Apple's prospects," said Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR, told IANS. Riding on the stellar performance of iPhone 11, XR and then iPhone 12, Apple for the first time doubled its smartphone market share in India to nearly 4 per cent in the festive quarter of 2020. Apple started manufacturing iPhones in India in 2017 with iPhone SE. Today, Apple manufactures some of its most advanced iPhones in India including XR, iPhone 11, and now iPhone 12. According to Navkendar Singh, Research Director, Client Devices &amp; IPDS, IDC India, Apple had a very good 2020 for iPhone shipments, having almost doubled it over 2019. "Now with plans to manufacture iPhone 12 in India, this will certainly help Apple in continuing last year's momentum in 2021 as well," Singh told IANS. For the first time, iPhone 12 models utilise 100 per cent recycled rare earth elements in all magnets, including the new camera, Taptic Engine, and MagSafe, as well as Apple's MagSafe accessories. Apple's suppliers in India are now utilising solar and wind energy for their needs. iPhone 12 comes with 5G technology, features the fastest A14 Bionic chip, edge-to-edge Super Retina XDR displays, and a sophisticated flat-edge design with Ceramic Shield front cover, offering four times better drop performance. "Apple continues its stellar run in the India smartphone market, gaining strength on the back of increased local manufacturing and strong marketing initiatives. The company continues to gain on its enduring aspirational appeal," Ram said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-loses-another-founding-member-as-pranay-jivrajka-leaves-the-ride-hailing-giant/articleshow/81404690.cms">Ola loses another founding member as Pranay Jivrajka leaves the ride-hailing giant</a> <a href="https://www.businessinsider.in/tech/mobile/news/moto-g30-review-a-decent-budget-phone-with-a-bloat-free-user-experience/articleshow/81407278.cms">Moto G30 review – a decent budget phone with a bloat-free user experience</a> <a href="https://www.businessinsider.in/stock-market/news/gold-prices-are-falling-and-the-worlds-biggest-market-for-the-yellow-metal-is-hoping-for-more-shoppers/articleshow/81406658.cms">Gold prices are falling and the world’s biggest market for the yellow metal is hoping for more shoppers</a>

Apple to soon start production of iPhone 12 in India

Following the crackdown on diesel taxis in Delhi-NCR, <a href="http://www.businessinsider.in/searchresult.cms?query=ola">Ola</a> is increasing its fleet of <a href="http://www.businessinsider.in/searchresult.cms?query=CNG+cars">CNG-fitted cabs</a>. 
 <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>, which already has 20,000 CNG cars, will be adding over 5,000 cabs in coming weeks and infusing Rs 200 crore for the same. 
 
"Ola is planning to expand its <a href="http://www.businessinsider.in/searchresult.cms?query=fleet+of+cab">fleet</a> of CNG cabs in Delhi by adding more than 5,000 cabs in the next one week. We have brought together car manufacturers, banks and financiers and valuation platforms to enable heavy discounts, loan offers and on spot valuation and exchange," said Ola COO Pranay Jivrajka. 
 
Ola is also giving lucrative offers to <a href="http://www.businessinsider.in/searchresult.cms?query=drivers">drivers</a> of saving up to Rs 1.5 lakh on exchanging their old diesel vehicles for a new CNG one in next six months. 
 
"This is the largest amongst a series of programs rolled out by Ola to encourage CNG adoption in Delhi-NCR. By the next week, the intent is to ramp up by at least 25 per cent,” said Pranay. 
 
With over 3,50,000 vehicles registered on its platform, Ola offers services across 102 cities in India.

Ola is pumping Rs 200 crore to increase fleet of CNG cabs in Delhi-NCR

<keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>, which is India's largest mobility app, has started piloting Bike Taxis in Bengaluru after introducing bus services, thus strengthening its place in the mobility market. 
 
The bike taxis would run at an introductory fare of Rs 2/km and Re 1 per minute of trip time would be added to the bill. In a statement by Ola, the minimum fare is reported to be Rs 30. 
 
Pranay Jivrajka, Ola’s COO said, "We expect significant demand in the pilot phase and we will continue to scale this service up in the coming weeks to cover more areas in the city." 
 On the other hand, Ola’s prime rival <keyword id="1042120" type="PERSON" weightage="100" keywordseo="Uber">Uber</keyword> has also announced the experiment of offering Bike taxis in Bengaluru, but at a higher cost of Rs 3/km. The minimum fare in Uber bike taxi rides would be Rs 15. 
 
<a href="http://blog.olacabs.com/ola-bike-taxis-launched-in-bangalore/">Image source</a>

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