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Air conditioning and <keyword id="17833175" type="General" weightage="20" keywordseo="engineering-services" botkeyword="" source="Denny">engineering services</keyword> provider <keyword id="21567326" type="General" weightage="20" keywordseo="Voltas-Ltd" botkeyword="" source="Denny" meta.keywordsubtype="org" meta.entityname="Voltas Ltd" meta.hostid="153" meta.entityid="Voltas Ltd">Voltas Ltd</keyword> on Tuesday reported a 22.75 per cent decline in <keyword id="20203162" type="General" weightage="20" keywordseo="consolidated" botkeyword="" source="Denny">consolidated</keyword> <keyword id="17985868" type="General" weightage="20" keywordseo="net-profit" botkeyword="" source="Denny">net profit</keyword> to Rs 110.64 crore in the fourth quarter ended March 31, 2024, impacted by higher <keyword id="18067946" type="General" weightage="20" keywordseo="expenses" botkeyword="" source="Denny">expenses</keyword>. The company had posted a consolidated net profit of Rs 143.23 crore in the same period previous fiscal, <keyword id="6354999" type="DOMAIN" weightage="20" keywordseo="voltas" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="voltas" meta.entityname="Voltas Ltd." meta.entityid="12815" meta.seoname="voltas-ltd">Voltas</keyword> said in a regulatory filing. Consolidated <keyword id="17915033" type="General" weightage="20" keywordseo="revenue" botkeyword="" source="Denny">revenue</keyword> from operations during the quarter under review stood at Rs 4,202.88 crore as against Rs 2,956.8 crore in the year-ago period, it added. Total expenses in the fourth quarter were higher at Rs 4,044.90 crore compared to Rs 2,761.45 crore in the corresponding period a year ago. In the fourth quarter the unitary cooling products business segment revenue grew by 44 per cent to Rs 2,955 crore as compared to Rs 2,049 crore in the corresponding quarter of the previous year on account of a better product mix enhancement approach, the company said. The engineering products and services division clocked revenue of Rs 156 crore as compared to Rs 142 crore in the year-ago period, it added. Similarly, electro-mechanical <keyword id="18084086" type="General" weightage="20" keywordseo="projects" botkeyword="" source="Denny">projects</keyword> and services segment comprising both domestic and international projects businesses grew by 38 per cent year-an-year due to a healthy carry forward order book position, it added. <keyword id="21544478" type="General" weightage="20" keywordseo="Voltas" botkeyword="" source="Denny">Voltas</keyword> said for the fiscal ended March 31, 2024, consolidated net profit was higher at Rs 248.11 crore as compared to Rs 136.22 crore in the previous year. Consolidated revenue from operations in FY24 was at Rs 12,481.21 crore as against Rs 9,498.77 crore in FY23. The company said it achieved the milestone of 20 lakh <keyword id="21211630" type="General" weightage="20" keywordseo="AC-sales" botkeyword="" source="Denny">AC sales</keyword> in 2023-24. Voltas said its board of directors has recommended a <keyword id="18713200" type="General" weightage="20" keywordseo="dividend" botkeyword="" source="Denny">dividend</keyword> of Rs 5 per share of the face value of Re 1 per share for the year 2023-24 subject to the approval of shareholders of the company. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

Voltas net profit declines 22% YoY to ₹110.64 crore in Q4 FY24

<keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> on Saturday posted a marginal 5 per cent increase in its standalone profit at Rs 16,821 crore in the second quarter ended September 2024. The country's biggest private sector lender had earned a <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> of Rs 15,976 crore in the same quarter a year ago. Total income increased to Rs 85,500 crore during the quarter under review against Rs 78,406 crore in the same period last year, HDFC Bank said in a regulatory filing. The bank reported <keyword id="20202322" type="General" weightage="20" keywordseo="interest-income" source="keywords">interest income</keyword> of Rs 74,017 crore during the quarter compared to Rs 67,698 crore in the same period a year ago. Net Interest Income (NII) improved to Rs 30,110 crore, from Rs 27,390 crore in the second quarter of previous year, registering a 10 per cent growth. As regards asset quality, the bank witnessed slight deterioration with gross <keyword id="19927319" type="General" weightage="20" keywordseo="Non-Performing-Assets" source="keywords">Non-Performing Assets</keyword> (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago. Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal. On a consolidated basis, the bank logged a growth of 6 per cent in net profit to Rs 17,826 crore as against Rs Rs 16,811 crore in Q2FY24. SEE ALSO:<a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank"></a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms" target="_blank">Best credit cards for online shopping this festive season</a><a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms" target="_blank">Best smartphones under ₹25,000 in India in October 2024</a><a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/waaree-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/114350114.cms" target="_blank">Waaree Energies IPO – Price band to risk factors, all you need to know</a>

HDFC Bank Q2 profit soars 5% to ₹16,821 crore

Electronics <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> giant <keyword id="19926050" type="General" weightage="20" keywordseo="Foxconn" source="keywords" meta.keywordsubtype="org" meta.entityname="Foxconn" meta.hostid="261" meta.entityid="Foxconn">Foxconn</keyword> has infused about Rs 1,200 crore -- approximately USD 144 million -- into its Karnataka-based Foxconn Hon Hai Technology India Mega Development Pvt Ltd, the company said in a recent regulatory filing. The iPhone contract manufacturer's Singapore-based arm Foxconn Singapore Pte has bought over 120.35 crore stocks of Foxconn Hon Hai Technology India Mega Development Pvt Ltd at Rs 10 per share on August 21. The <keyword id="19896017" type="General" weightage="20" keywordseo="Karnataka" source="keywords">Karnataka</keyword> government in a statement last week said Foxconn is planning to invest Rs 25,000 crore to establish a massive manufacturing <keyword id="20102134" type="General" weightage="20" keywordseo="plant" source="keywords">plant</keyword> near Dodda Ballapur that will create 40,000 jobs. "The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals, and our <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> will not stop here; in the future, we plan to explore other sectors also," Foxconn Chairman Young Liu was quoted as saying in the statement. With the fresh infusion, Foxconn Singapore has invested over Rs 13,800 crore in the Karnataka unit. The Karnataka government has allocated 300 acres to Foxconn for its upcoming mobile manufacturing unit in the state. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Foxconn infuses ₹1,200 crore in Karnataka unit

New Delhi: <keyword id="22803368" type="General" weightage="100" keywordseo="Smartworks-Coworking-Spaces" source="keywords">Smartworks Coworking Spaces</keyword> Ltd has filed preliminary papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="345" meta.entityid="Sebi">Sebi</keyword> to raise funds through an <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The proposed initial share sale is a combination of a <keyword id="20953853" type="General" weightage="20" keywordseo="fresh-issue" source="keywords">fresh issue</keyword> of equity shares worth Rs 550 crore and an Offer For Sale (OFS) of 67.59 lakh shares by promoters, according to the <keyword id="20076796" type="General" weightage="20" keywordseo="Draft-Red-Herring-Prospectus" source="keywords">Draft Red Herring Prospectus</keyword> (DRHP). The city-based company may consider raising Rs 110 crore through a <keyword id="22244028" type="General" weightage="20" keywordseo="pre-IPO-placement" source="keywords">pre-IPO placement</keyword>. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Proceeds from the fresh issue to the tune of Rs 282.30 crore will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres, Rs 140 crore will be allocated for payment of loans and the remaining funds will be utilized for general corporate purposes. Smartworks Coworking Spaces Ltd is a leading platform for office experiences and managed campuses. It specialises in leasing large, bare-shell properties in prime locations and transforming them into fully serviced, tech-enabled campuses with modern amenities. These campuses include cafeterias, sports zones, gyms, crA"ches, medical centres, and more, offering a modern and attractive work environment. The company cater to businesses of all sizes, with a focus on mid-to-large companies that need over 300 seats. The company is concentrated in cities including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram and Chennai. India's commercial office space was about 841.2 million square feet as of March 31, 2024, and is expected to grow at an annual rate of 6.71 per cent to 1,079.3 million square feet by the end of 2027, as per the draft papers. Flexible workspaces have become a key part of modern work culture, supporting different working styles and adding flexibility to the office market. JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd and Kotak Mahindra Capital Company Ltd are responsible for managing the company's IPO process.

Smartworks Coworking Spaces files IPO papers with Sebi; eyes Rs 550 crore via fresh issue

The Indian Energy Exchange (<keyword id="19906388" type="General" weightage="20" keywordseo="IEX" source="keywords">IEX</keyword>) has posted a 9.5 per cent rise in <keyword id="20569223" type="General" weightage="20" keywordseo="consolidated-profit" source="keywords">consolidated profit</keyword> after tax at Rs 96.7 crore for the March 2024 quarter on account of higher <keyword id="19942932" type="General" weightage="20" keywordseo="income" source="keywords">income</keyword>. It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday. The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY23. During the period under review, its expenses stood at Rs 22.65 crore, as against Rs 19.52 crore a year ago. In FY24, the consolidated PAT rose 14.7 per cent to Rs 350.78 crore, from Rs 305.88 crore in FY23. Income for the full year was at Rs 550.84 crore, up from Rs 474.10 crore. The Board of Directors of the company announced a final dividend of Rs 1.50 for FY24. Sharing business updates, IEX said 110.1 billion units of electricity traded on its platform during the fiscal year 2023-24, registering a year-on-year (y-o-y) increase of 13.7 per cent. The DAM (day-ahead market) prices on the exchange declined to Rs 5.24/unit in FY24, lower by 12 per cent y-o-y compared with Rs 5.94/unit in FY23. During <keyword id="20028449" type="General" weightage="20" keywordseo="Q4" source="keywords">Q4</keyword> FY24, IEX achieved 30.1 BU volume across all segments, registering an increase of 15.5 per cent on y-o-y basis. This volume comprises 25.9 BU from the conventional power market segment, 1 BU from the green market segment, and 32.48 lac Renewable Energy Certificates (RECs) (equivalent to 3.2 BU). REC traded volume in the fourth quarter of 2023-24 increased by 98 per cent on y-o-y basis. The DAM prices on the exchange lowered to Rs 4.89/unit in January-March 2024, a decline of 20 per cent y-o-y compared with Rs 6.08/unit a year ago. Noida-based IEX is India's leading energy exchange providing an automated trading platform for physical delivery of electricity, renewable power, renewable energy certificates and energy saving certificates. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/vivo-takes-the-top-spot-in-india-top-smartphone-brands-in-q1-2024/slidelist/110150830.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/vivo-takes-the-top-spot-in-india-top-smartphone-brands-in-q1-2024/slidelist/110150830.cms" target="_blank">Vivo takes the top spot in India: Top smartphone brands in Q1 2024</a><a href="https://www.businessinsider.in/tech/news/google-i/o-2024-highlights-ask-photos-ai-overviews-ai-fraud-protection-and-more-announced/articleshow/110143756.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-2024-highlights-ask-photos-ai-overviews-ai-fraud-protection-and-more-announced/articleshow/110143756.cms" target="_blank">Google I/O 2024 highlights: Ask Photos, AI Overviews, AI fraud protection and more announced</a><a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/virat-kohli-backed-go-digit-ipo-subscription-opens-today-all-you-need-to-know/slidelist/110137661.cms" target="_blank">Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know</a>

IEX Q4 net profit grows 9.5% to ₹97 crore

<ul><li>Four initial public offerings (IPOs), namely, Sah Polymers, Rex Sealing and Packing Industries, SVS Ventures and Chaman Metallics are open for subscription this week.</li><li>The four IPOs are expected to collectively raise almost ₹110 crore.</li><li>Sah Polymers, a polymer manufacturer and packaging solutions provider, will be launched on the main board of the BSE and NSE.</li><li>Rex Sealing and Packing Industries, real estate developer SVS Ventures and steel producer Chaman Metallics will be listed on the small and medium enterprise (SME) indices.</li></ul> The first week of 2023 has kicked off with four initial public offerings (IPOs) that will either launch or are already open for subscriptions, carrying forward the momentum of the year before – when 38<a href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-ipos-of-2022-in-india/articleshow/96160391.cms"> companies launched their issues</a> despite volatile market conditions. While three IPOs – that of Sah Polymers, Rex Sealing and Packing Industries, and SVS Ventures – are currently open for investor subscription, that of Chaman Metallics will open on January 4. These four IPOs are expected to collectively raise almost ₹110 crore. Sah Polymers, a polymer manufacturer and packaging solutions provider, will list on the mainboard of the BSE and NSE. However, Rex Sealing, real estate developer SVS Ventures and steel producer Chaman Metallics will be listed on the small and medium enterprise (SME) indices. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">Company </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;">Open date </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;">Close date </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;">IPO size </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;">Sah Polymers </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;">Dec 30, 2022 </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;">Jan 4, 2023 </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;">₹66.3 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;">Rex Sealing and Packing Industries </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;">Dec 30, 2022 </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;">Jan 4, 2023 </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;">₹8.09 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;">SVS Ventures </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;">Dec 30, 2022 </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;">Jan 4, 2023 </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;">₹11.24 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;">Chaman Metallics </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;">Jan 4, 2023 </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;">Jan 6, 2023 </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;">₹24.21 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="13674457" type="General" weightage="20" keywordseo="Sah-Polymers-IPO" source="Orion">Sah Polymers IPO</keyword> to raise ₹66.3 crore Udaipur-based Sah Polymers opened its initial public offering (IPO) on December 30 and will close on January 4, 2023. The price band of the IPO is set at ₹61-65 per share. The company’s ₹66 crore IPO is a complete fresh issue of 10.2 million shares, with no offer for sale (OFS) component. The shares of the company are currently commanding a grey market premium (GMP) of ₹9 per share. <a href="https://www.businessinsider.in/stock-market/news/grey-market-premium-what-is-it-and-where-is-it-coming-from/articleshow/95454371.cms">GMP is the premium at which IPO shares are traded </a>in an unofficial market before they are listed on the stock exchanges. The company is primarily engaged in manufacturing and selling of polypropylene (PP) and high density polyethylene (HDPE) bulk bags (or FIBC bags), woven sacks, and HDPE/PP woven fabrics. Sah Polymers intends to use part of its net proceeds from the IPO to establish a new facility with an additional installed capacity of 3.96 billion tonnes per annum to manufacture different variants of FIBC products. Once set up, it will double the company’s total production capacity to 7.92 billion tonnes per annum. The company also intends to use a part of the proceeds to repay debt, fund working capital requirements and for other general corporate purposes. Rex Sealing IPO to be listed on SME exchange Rex Sealing opened its IPO last week and will close on January 4. The price of the IPO is set at ₹135 per share. The company plans to raise ₹8.09 crore through a fresh issue worth ₹4.05 crore, and an offer for sale by promoters and shareholders worth ₹4.04 crore. The IPO will be listed on the BSE SME exchange. The company intends to use proceeds from the fresh issue to fund working capital requirements and for general corporate purposes. The shares of the company are currently indicating a grey market discount of ₹5 per share. The company is a manufacturer and exporter of sealing packing and insulation products including jointing sheets, fabric expansion joints, and ceramic fibre products. Rex Sealing and Packing Industries is in the process of setting up an additional manufacturing facility at Ambernath, measuring 4,000 square metres for expansion of business and manufacture of all types of asbestos-free gasket sheets for automotive, steel and other processing units. SVS Ventures IPO to raise ₹11.24 crore The real estate developer also opened its IPO last week and will close on January 4. The price of the issue is set at ₹20 per share. The company plans to raise ₹11.24 crore through a complete fresh issue of shares. The IPO will be listed on the BSE SME exchange. The company intends to use proceeds from the fresh issue to fund working capital requirements and for general corporate purposes. The shares of the company are currently indicating a grey market discount of ₹5 per share. The company is in the business of construction and real estate development, focusing primarily on residential and commercial projects in and around Ahmedabad, Gujarat. The company’s business operations include development of real estate projects in the residential segment comprising apartment type complexes, villas, largely catering to the middle income and high income group. Its projects are marketed and sold under the brand name of "SVS Ventures (formerly known as Vijay &amp; co.) <keyword id="15944882" type="General" weightage="20" keywordseo="Chaman-Metallics-IPO" source="Orion">Chaman Metallics IPO</keyword> to open on January 4 Steel producer Chaman Metallics’ IPO will open on January 4 and close on January 6. The price of the issue is set at ₹38 per share. The company plans to raise ₹24.21 crore through a complete fresh issue of shares. The IPO will be listed on the NSE SME exchange. The company intends to use proceeds from the fresh issue to meet working capital requirements and for general corporate purposes. The shares of the company are currently commanding a grey market premium of ₹23 per share. Chaman Metallics is primarily engaged in the business of manufacturing and selling of direct reduced iron (i.e. sponge iron). Sponge iron is mainly used as a raw material for making steel in electric arc furnaces and induction furnaces. It operates a manufacturing facility located in Chandrapur, Maharashtra with an installed sponge iron production capacity of 72,000 metric tonnes. The company sells its products primarily in the states of Maharashtra, Odisha and Chhattisgarh. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/incred-capital-acquires-alternate-asset-advisory-firm-orowealth/articleshow/96678261.cms">InCred Capital acquires alternate asset advisory firm Orowealth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/stock-picks-for-2023-lt-sbi-axis-bank-among-top-brokerage-picks-for-the-new-year/articleshow/96667625.cms">Stock picks for 2023: L&amp;T, SBI, Axis Bank among top brokerage picks for the new year</a>

From Sah Polymers to Chaman Metallics – Four IPOs that plan to raise almost ₹110 crore this week

<keyword id="744121" type="PERSON" weightage="20" keywordseo="minimalist">Minimalist</keyword>, a new-age homegrown <keyword id="2782303" type="PERSON" weightage="20" keywordseo="skincare-brand">skincare brand</keyword>, has raised Series A funding of Rs <keyword id="73571" type="PERSON" weightage="20" keywordseo="110-crore">110 crore</keyword> through multiple international investors in just nine months of its inception. The round was led by <keyword id="136147" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital-India">Sequoia Capital India</keyword>, with participation from <keyword id="2919607" type="ORGANIZATION" weightage="20" keywordseo="Unilever-Ventures">Unilever Ventures</keyword>. The brand plans to utilise the funds to enhance its infrastructure and R&amp;D capabilities, launch in global markets, as well as double down on its content creation efforts by sharing well-researched knowledge about skincare with its consumers. Launched in 2020 by Mohit and Rahul Yadav, Minimalist, which is a mission-driven brand committed to bringing high-levels of efficacy and transparency to the personal care segment, is rapidly gaining popularity due to its values and ethos. So far, they have served over one million customers and is the fastest growing skincare brand in India. Their products are popular among both women and men looking for solutions to acne, pigmentation, excess sebum, dull skin. Speaking about the fundraise, Mohit Yadav, Co-founder - Minimalist, said, "Consumers today are looking beyond marketing claims and are seeking efficacy based skincare products. Our growth so far proves that a radical change in skincare industry is underway. Together with our customers, we are creating 'Skincare 2.0' by offering proven solutions driven by scientific innovations." Having a portfolio of diverse skincare and hair care products, the brand retails through its own website, along with e-commerce giants like Amazon, Nykaa, Flipkart, Myntra, and numerous other marketplaces. Minimalist currently offers 20 products ranging from serums, toners, face acids and moisturizers that are well researched, backed by proven science, safe, effective, mindfully created, and suited for all skin types. "Minimalist's products take an efficacy-first approach using transparency and science as underpinnings to improving personal care outcomes. This has resulted in a strong following and business momentum. Having seen the power of Mohit and Rahul's execution over many years, <keyword id="122716" type="CITY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> India is thrilled to lead the Series A financing in the company," said Shailesh Lakhani, Managing Director, <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword>. "Minimalist is trailblazing science-backed clean beauty formulations in India, a trend that has gained massive consumer acceptance worldwide and with growing consumer traction in India. We look forward to working with the founders and management team along with our fellow investors in supporting the brand's ambitions over the coming years," said Pawan Chaturvedi, Partner at Unilever Ventures. Sequoia Capital India operates in India and Southeast Asia, where they actively partner with founders across sectors from idea to IPO. Unilever Ventures is the venture capital arm of British multinational consumer goods company <keyword id="261686" type="COMPANY" weightage="20" keywordseo="Unilever-plc">Unilever PLC</keyword> that invests in fast growing companies across consumer and enterprise technology. SEE ALSO <a href="https://www.businessinsider.in/business/news/byjus-last-two-acquisitions-and-a-deal-with-disney-reveal-its-american-dream/articleshow/84783749.cms">Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

Skincare brand Minimalist raises ₹110 crore in Series A funding led by Sequoia Capital India

Even as the soaring prices of tomatoes are burning a hole in the common man's pocket, a farmer from Pune in Maharashtra has become a millionaire by selling his bountiful yield of the key kitchen staple for ₹3 crore in just over a month while overcoming various challenges. Farmer Ishwar Gaykar (36), from Pachghar village in Junnar tehsil of Pune district, had faced a difficult decision of dumping a large quantity of harvested tomatoes in May this year due to low prices. Undeterred by the setback, he continued to exhibit unwavering determination and work tirelessly on his 12-acre farm to cultivate tomatoes. Now, amid the skyrocketing prices of tomatoes, Gaykar's hard work has paid off handsomely, transforming him into a millionaire as he claimed to have earned ₹3 crore through the sale of his crop yield between June 11 and July 18. Talking to PTI, Gaykar said during the period, he sold 18,000 crates of tomatoes (each crate comprising 20 kg of tomatoes) at the Agricultural Produce Market Committee (APMC) at Narayangaon in Junnar tehsil for ₹3 crore. He aims to earn another ₹50 lakh by selling the remainder of the produce, which is roughly 4,000 crates. The total input cost of cultivation, including transportation, was ₹40 lakh, he said. "I have an 18-acre farm where I cultivate tomatoes on 12 acres. I have sold 18,000 crates since June 11 and have so far earned ₹3 crore," said Gaykar. On June 11, his produce fetched a price of ₹770 per crate (₹37-38 per kg), and on July 18, he sold tomatoes at ₹2,200 per crate (₹110 per kg ). Gaykar, who is now happy to earn handsome dividends on the produce, recalled how he had to dump a large quantity of harvested tomatoes just two months back due to low prices. "This is the best of times for the tomato growers, but we have witnessed worst times also. In the month of May, I grew tomatoes on one-acre land, but had to throw away large quantities of the produce as the prices were very low. I had thrown the produce away as the per crate rate was just ₹50, which means ₹2.50 per kg," he said. Gaykar also said that in 2021, he incurred losses worth ₹15-16 lakh and last year also he just earned a narrow profit margin. "When I was throwing the tomatoes in May this year, this yield on the 12-acre land was under cultivation. Undeterred by the setback, I kept up my resilience and commitment towards farming and continued spending on the cultivation of tomatoes," he said. "I took good care of the produce even in the scorching May heat. Due to the high temperatures, tomato cultivation in other parts took a beating, but farmers like me benefitted as we continued to work hard," he said. Another farmer Raju Mahale, who earned more than ₹20 lakh by selling 2,500 crates in the current season, said he was also jittery about tomato cultivation after May as the per acre input cost was around ₹3.5 lakh. But, he went ahead with the cultivation, receiving good dividends now. Narayangaon agriculture market trader Akshay Solat, who purchased Gaykar's produce, said as there was a boom in the market again, he purchased tomatoes at ₹ 2,400 per crate. "I have been in this trading business for the last 15 years, but I have never seen such a boom in the tomato market. Once there was a rate of ₹ 1,500 to ₹ 1,600 per crate, but such price-wise consistency in the tomato market was never witnessed," he said. He, however, said only a handful of farmers have earned handsomely this season, including farmers from Pachghar, Otur, Ambegavhan, and Rokdi. Narayangaon APMC chief Sanjay Kale said generally in this season, their market receives 1.5 lakh to 2 lakh crates of tomatoes per day, but in the current season, it has dropped to 30,000 to 35,000 crates per day. "In the last two years, farmers incurred huge losses and could not recover their production costs, which resulted in a drop in production. During the summers, the tomato crop suffered from diseases, forcing the farmers to abandon their tomato farms," he said. "I generally get tomatoes from across the state, but because of the aforementioned reasons, the market committee is receiving the produce from Junnar and Ambegaon tehsils. These are the reasons why tomato prices have skyrocketed and demand has soared," he said. Kale said since the production of tomatoes has taken a beating in north India, traders from other states come to the market in Narayangaon to purchase the key kitchen staple. The National Cooperative Consumers' Federation (NCCF) and the National Agricultural Cooperative Marketing Federation (NAFED) last week started selling tomatoes at a discounted rate of ₹ 90 per kg in Delhi-NCR and Patna in a bid to provide relief to consumers amid the high prices. The Centre had directed the two cooperatives to procure tomatoes from Andhra Pradesh, Karnataka and Maharashtra for distribution in major consumption centres, where retail prices have recorded maximum increase in the last month. "Though the NCCF and NAFED started selling tomatoes at the discounted rate, the government is buying the produce at ₹ 110 or ₹ 120 per kg, so farmers will continue to get what they are getting now," Kale said.

Sky-high tomato prices make Pune farmer a millionaire as he earns ₹3 cr in one month

The spy action film '<keyword id="12756474" type="General" weightage="100" keywordseo="pathaan" source="Orion">Pathaan</keyword>', which stars the Bollywood superstar <keyword id="1671" type="General" weightage="50" keywordseo="shah-rukh-khan" source="Orion">Shah Rukh Khan</keyword>, Deepika Padukone and John Abraham will be available at reduced ticket prices in theatres across <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> on Friday. The film will be available for exhibition at flat Rs 110 across cinemas in India. The move is being done to celebrate the film's performance at the box office as it has single-handedly bailed the Hindi film industry out of troubled waters and has set the cash registers ringing collecting Rs 963 crore gross worldwide. To celebrate Pathaan being the highest-grossing Hindi film worldwide in the history of Hindi cinema, top theatre chains of India - PVR, Inox, Cinepolis, Miraj, Movietime, MuktaA2 and other participating cinemas have come together to celebrate this Friday as 'Pathaan Day'. The SRK-starrer 'Pathaan' has minted Rs 498.85 crore in India (Hindi - Rs 481.35 crore, Dubbed - Rs 17.50 crore). The film, produced by <keyword id="36603" type="General" weightage="50" keywordseo="yash-raj-films" source="Orion">Yash Raj Films</keyword> and directed by <keyword id="22456" type="General" weightage="50" keywordseo="siddharth-anand" source="Orion">Siddharth Anand</keyword>, tells the story of the titular spy, who fights the odds to save the nation from the evil plans of an ex-RAW agent who turned rogue after his family was attacked and killed. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indigo-stock-slides-4-in-early-trade-after-reports-of-a-large-block-deal/articleshow/97970085.cms">Indigo stock slides 4% in early trade after reports of a large block deal</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/realme-gt3-smartphone-can-be-fully-charged-in-9-minutes/articleshow/97971726.cms">Realme GT3 with 240W charging can charge from 0-100 in nine minutes - launch date, specs, and more</a>

This Friday, watch Pathaan at just ₹110 across Indian theatres

Mumbai, Superstar <keyword id="1671" type="General" weightage="20" keywordseo="shah-rukh-khan" source="Orion">Shah Rukh Khan</keyword>'s action thriller "<keyword id="6363925" type="General" weightage="80" keywordseo="jawan" source="Orion">Jawan</keyword>" has raised Rs 384.69 crore at the worldwide box office in three days, the makers said Sunday. Directed by Tamil filmmaker Atlee, the pan-India film released on Thursday in Hindi, Tamil and Telugu. It also stars Nayanthara and <keyword id="6354625" type="General" weightage="50" keywordseo="vijay-sethupathi" source="Orion">Vijay Sethupathi</keyword> as well as Deepika Padukone in a special appearance. Red Chillies Entertainment, the production house behind "Jawan", shared the India and the worldwide gross box office collection of the movie on X, formerly known as Twitter. "Highest single day collection ever. Rs 68.72 crore (Hindi). Rs 144.22 crore gross box office collection all languages," the note read. "Three-day worldwide gross box office collection Rs 384.69 crore," the banner said in another post. "Jawan" is a father-son story that addresses social and political issues through its hero, essayed by <keyword id="4546" type="General" weightage="50" keywordseo="shah-rukh" source="Orion">Shah Rukh</keyword>. The film also features Sanya Malhotra, Priyamani, Girija Oak, Sanjeeta Bhattacharya, Lehar Khan, Aaliyah Qureshi, Ridhi Dogra, <keyword id="6359500" type="General" weightage="50" keywordseo="sunil-grover" source="Orion">Sunil Grover</keyword> and Mukesh Chhabra as well as Sanjay Dutt in a cameo appearance. According to trade analyst <keyword id="107593" type="General" weightage="50" keywordseo="taran-adarsh" source="Orion">Taran Adarsh</keyword>, the Hindi version of "Jawan" has collected Rs 180.45 crore in three days. "#Jawan is a #BO MONSTER, goes on an overdrive on Day 3 (Sat)... Creates HISTORY, HIGHEST *3-day* ever (#Hindi version)... Thu 65.50 cr, Fri 46.23 cr, Sat 68.72 cr. Total: ₹ 180.45 cr. #Hindi. #India biz," Adarsh posted on X. At the worldwide box office, the high-octane action thriller collected Rs 129.6 crore on day one, making it the biggest opening day in the history of Hindi cinema globally, according to the makers. The film raised Rs 110.87 on day two and on the third day, it made Rs 144.22 crore. A Red Chillies Entertainment presentation, "Jawan" is produced by Gauri Khan and co-produced by Gaurav Verma.

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From Sah Polymers to Chaman Metallics – Four IPOs that plan to raise almost ₹110 crore this week

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Skincare brand Minimalist raises ₹110 crore in Series A funding led by Sequoia Capital India

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Sky-high tomato prices make Pune farmer a millionaire as he earns ₹3 cr in one month

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This Friday, watch Pathaan at just ₹110 across Indian theatres

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