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The IPO of ACME Solar, which opened for subscription yesterday, has been subscribed 1.81x in the retail investors category and 0.6x overall. The offer, worth Rs 2,900 crore, is a combination of Rs 2,395 crore of fresh issue and Rs 505 crore worth of OFS (offer for sale). With a price band of Rs 275-289, the IPO will close for subscription tomorrow. Retail investors can invest in a minimum of 1 lot of 51 shares, bringing the total amount to Rs 14,739. The company is set to list on both NSE and BSE on November 13, 2024. <br /><br />Despite the company's strong presence in the renewable energy space, the company's GMP (grey market premium) remains muted, almost negligible, trading at Rs 0 today. ACME's GMP has been dipping ever since November 30, 2024, when it stood at Rs 30.  The allotment of shares is scheduled for November 11, 2024, with a tentative listing date on the BSE and NSE set for November 13, 2024.<br /><br />The company amassed Rs 1,300.5 crore via the issue of 4.5 crore equity shares from anchor investors ahead of its IPO. Around 1.5 crore equity shares, or about 33.4% of the total anchor book, were lapped up by 8 domestic mutual fund houses through a total of 17 schemes. <br /><h2>About the company<br /></h2>ACME Solar is one of India's top 10 renewable energy-independent power producers. To date, the company has developed a total of 2,719 MW of solar power projects. In terms of financial performance, over the last three fiscal years, the company has reported (on a consolidated basis) a total income of Rs 1,562.73 crore in FY22, Rs 1,361.67 crore in FY23, and Rs 1,466.27 crore in FY24. <br /><br />In terms of net profit/loss, ACME Solar incurred a net profit of Rs 62.01 crore in FY22, a loss of Rs 3.15 crore in FY23, and Rs 697.78 crore in FY24. For the first quarter of FY25, the company's revenue from operations stood at Rs 340.01 crore, while earning a net profit of Rs 1.39 crore. <br /><br />The company intends to utilize the IPO proceeds to repay and prepay part of its outstanding borrowings, and also for general corporate purposes. However, the company is not without its fair share of risks. Around 63.22% of its FY24 revenue is concentrated in just three Indian states—Andhra Pradesh, Rajasthan, and Telangana. <br /><br />Also, the company's business is highly dependent on its top 10 off-takers, which contributed 95.42% to its revenue as of the quarter ended June 30, 2024, 87.48% to its revenue in FY23, and 81.11% to the company's income in FY22. The loss of any of these off-takers can have adverse effects on their business, financial condition, results of operations, and cash flows.<br /><br />Moreover, not only does its growth depend on winning highly competitive project bids, but it is also highly reliant on government-owned transmission grids and infrastructure. <br /><br /><h2>Should you subscribe?<br /></h2>Per Bajaj Broking, the issue appears to be aggressively priced, yet they would recommend subscribing to the IPO for the long term. "Over the past three fiscal years, the company has achieved an average EPS of Rs. 6.44 and an average RoNW of 13.95%. The issue is priced at a P/BV of 7.77 based on its NAV of Rs 37.19 as of June 30, 2024. When annualizing FY25 earnings to the post-IPO fully diluted equity base, the asking price results in a P/E of 3211.11, while based on FY24 earnings, the P/E stands at 25.06". <br /><br />However, there are financial concerns that cannot be ignored. "FY24 appears to be an exceptional year with significantly boosted profits, but otherwise, the company has shown inconsistent top and bottom lines over the reported periods. Its debt-equity ratio of 3.89 as of June 30, 2024, is notably high and raises concerns," it adds. <br /><br />According to Anand Rathi Research, the IPO can be subscribed to in the long run. "At the upper price band, the company is valued at a P/E of 30.17x, with an EV/EBITDA of 22.4x and a market cap of Rs 1,74,868 million post-issue of equity shares and a return on net worth of 26.93%. We believe that the IPO is richly priced," adds the note.

ACME Solar IPO: Should you subscribe? Here's all you need to know

ACME Solar IPO – GMP, risk factors and all you need to know

<ul><li><keyword id="1941007" type="General" weightage="20" keywordseo="Waaree-Energies" source="Orion">Waaree Energies</keyword> is expected to announce its IPO share allotment status on Thursday, October 24.</li><li>The shares of Waaree Energies were subscribed 76.34 times.</li><li>The Waaree Energies shares are expected to be listed on the stock exchanges on October 28.</li></ul>Mumbai-based Waaree Energies, a manufacturer of solar PV modules is expected to announce the allotment status of its initial public offering (IPO) on Thursday, October 24.<br /><br />The <keyword id="12201442" type="General" weightage="20" keywordseo="Waaree-Energies-ipo" source="Orion">Waaree Energies IPO</keyword> opened on October 21 and closed on October 23. The price band for the Waaree Energies IPO was ₹1,427 to ₹1,503 per share.<br /><br /><h2><keyword id="23597813" type="General" weightage="20" keywordseo="Waaree-Energies-ipo-subscription" source="Orion">Waaree Energies IPO subscription</keyword> status</h2>On its last day, the Waaree Energies IPO was subscribed 76.34 times, receiving bids for 160.92 crore equity shares against 2.11 crore shares on offer.<br /><br />While the qualified institutional buyer (QIB) portion was subscribed 208.63 times, the non-institutional investor's portion was subscribed 62.48 times. The retail portion also witnessed good participation and was subscribed 10.79 times. The employee portion was subscribed 5.17 times.<br /><br /><h2>Waaree Energies <keyword id="22158953" type="General" weightage="20" keywordseo="IPO-GMP" source="keywords">IPO GMP</keyword></h2>The shares of Waaree Energies are currently commanding a grey market premium (GMP) of ₹1,375 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges.<br /><br /><h2>How to check the Waaree Energies IPO’s allotment status</h2>You can check the Waaree Energies <keyword id="20660173" type="General" weightage="20" keywordseo="IPO-allotment" source="keywords">IPO allotment</keyword> status on the registrar’s website.<br /><br /><ul><li>To check the Waaree Energies IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>.<br /></li><li>Click on ‘Select Company’ and then select ‘Waaree Energies’.<br /></li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.<br /></li><li>Click on submit.<br /></li></ul>You will be able to see your Waaree Energies IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you.<br /><br />You can also check the Waaree Energies IPO allotment status on the BSE and NSE websites.<br /><br />To check the allotment status on the BSE or NSE website:<br /><br /><ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.<br /></li><li>On the website, click on 'Equity' and then select ‘Waaree Energies’ from the dropdown menu.<br /></li><li>Now, enter your application number and PAN.<br /></li><li>Click on 'Search'.<br /></li></ul>You will be able to see the number of Waaree Energies shares allotted to you.<br /><br />You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Waaree Energies IPO allotment status on NSE.<br /><br /><h2>Waaree Energies IPO listing date</h2>The shares of Waaree Energies will be listed on the stock exchanges on October 28. <br /><br />Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a><br /><br /><a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms"><strong>UPI refund to digital arrest scam, here are some online scams you need to be aware of</strong></a><br />

Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more

<ul><li>Three mainboard companies and six SMEs will begin their <keyword id="10012322" type="General" weightage="100" keywordseo="ipos-this-week" source="Orion">IPOs this week</keyword>.</li><li><keyword id="21372622" type="General" weightage="20" keywordseo="Premier-Energies" source="keywords" meta.keywordsubtype="org" meta.entityname="Premier Energies" meta.hostid="261" meta.entityid="Premier Energies">Premier Energies</keyword> is the biggest IPO that is scheduled to begin this week.</li><li>Here’s everything you need to know about the <keyword id="8964554" type="General" weightage="20" keywordseo="upcoming-ipos" source="Orion">upcoming IPOs</keyword> this week.</li></ul>Initial public offerings (IPOs) are gaining steam once again, with three mainboard companies and multiple small and medium enterprises (SMEs) looking to raise funds from the primary market.<br /><br />The three mainboard companies looking to raise funds from the primary market include Premier Energies, <keyword id="22920122" type="General" weightage="20" keywordseo="ECO-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="ECO Mobility" meta.hostid="261" meta.entityid="ECO Mobility">ECO Mobility</keyword> and Bazaaar Style Retail. Apart from this, six SMEs will also launch their IPOs this week, with one SME IPO already underway.<br /><br />In this post, we look at the IPOs hitting Dalal Street this week:<br /><br /><h2>Premier Energies</h2>Premier Energies Limited, a Hyderabad-based manufacturer of solar cells and solar panels is the company looking to raise the highest funds this week. The company is looking to raise ₹2,830.4 crore, including a fresh issue of ₹1,291.40 crore and an offer for sale (OFS) component of ₹1,539 crore. The company’s IPO begins on August 27 and ends on August 29.<br /><br /><div type="Article" hostid="261" msid="112747268" title="Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more" mstype="2" mssubtype="0"></div><br /><h2>ECO Mobility</h2>Eco Mobility, a chauffeur-driven car rental service provider is looking to raise ₹601.20 crore from the market, all of which is an offer for sale and there is no fresh issue of shares. The IPO opens for subscription on August 28 and closes on August 30, 2024. The company offers chauffeur-driven cars and employee transportation services, focusing on corporates.<br /><br /><h2>Baazar Style Retail</h2>Baazar Style Retail Limited, a fashion retailer that operates in West Bengal and Odisha is looking to raise ₹834.68 crore from the primary market, which includes a fresh issue of ₹148 crore and an offer for sale component of ₹686.68 crore. The company’s IPO begins on August 30 and ends on September 3.<br /><br /><h2><keyword id="18638411" type="General" weightage="20" keywordseo="sme-ipos-this-week" source="Orion">SME IPOs this week</keyword></h2>A total of six SMEs are looking to raise funds from the primary market this week. The Indian Phosphate IPO is already underway, and three IPOs will begin on August 27, with one IPO to begin on August 28 and August 29 each. SMEs raising funds from the market include Aeron Composite, Vdeal Systems, Archit Nuwood Industries and more.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms">Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</a><br /><br /><a href="https://www.businessinsider.in/stock-market/news/orient-technologies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112747268.cms">Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more</a><br /><br /></strong><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"><strong>2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</strong></a><br />

Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more

<ul><li>The public offering of Ahmedabad-based Harsha Engineers International has been subscribed 10.35 times on the second day.</li><li>The company plans to raise ₹755 crore through this IPO.</li><li>The lender has fixed the price band at ₹314-330 per share.</li><li>Shares of the company are commanding a premium of ₹225 from ₹210 earlier in the grey market.</li></ul>The initial public offering (IPO) of Ahmedabad-based Harsha Engineers International, which manufactures precision bearing cages has been subscribed 10.35 times on the second day.<br /><br />The IPO received strong demand from non-institutional and retail investors. Overall, it received bids of 17.45 crore shares against 1.68 crore equity shares on offer.<br /><br />The company plans to raise ₹755 crore through this IPO consisting of a fresh issue of equity shares worth ₹455 crore and an offer for sale by promoters of up to ₹300 crore.<br /><br />The proceeds from the IPO will be utilised for debt repayment, funding capital expenditure, purchase of machinery, infrastructure repairs, renovation of the existing production facilities and for general corporate purposes.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.63 times<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.91 times<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.14 times<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.35 times<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>The company’s business comprises two segments – engineering business and solar EPC business. <br /><br />The company supplies its products to over 25 countries across five continents i.e., North America, Europe, Asia, South America and Africa.<br /><br />Ahead of its initial share sale, Harsha Engineers had raised ₹225.7 crore from anchor investors including American Funds Insurance Series Global Small Capitalization Fund, Goldman Sachs Funds - Goldman Sachs India Equity Portfolio, PineBridge Global Funds - PineBridge India Equity Fund and Abu Dhabi Investment Authority-Monsoon.<br /><br />The shares of the company are currently commanding a grey market premium or GMP of ₹225 from ₹210 per share earlier. <br /><br />GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The IPO opened on September 14, and will close on September 16.<br /><br />Most analysts have recommended subscribing to the IPO following the company’s dominant position in the industry. <br /><br />“Harsha Engineers International with its dominant position is well placed to capture the growing bearing cage demand across industries. We like its increasing focus on other specialised precision components and on the growing EV segment which could boost its EBITDA margins,” said analysts at Motilal Oswal.<br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/cant-be-locking-horns-with-zomato-and-swiggy-says-restaurant-body/articleshow/94203208.cms">Can’t be locking horns with Zomato and Swiggy, says restaurant body</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sebi-wont-interfere-with-ipo-pricing-process-says-sebi-chief-madhabi-puri-buch-but-favours-better-disclosures/articleshow/94176189.cms">SEBI won’t interfere with IPO pricing process says SEBI chief Madhabi Puri Buch but favours better disclosures</a>

Harsha Engineers IPO is subscribed 10.35 times on day 2

<ul><li>The initial public offering (IPO) of the Ahmedabad-based manufacturer is all set to raise ₹755 crore through this IPO.</li><li>The company’s profit grew by over four times in the last three financial years.</li><li>The IPO is open for subscription from today September 14 to September 16.</li><li>The price band of the issue is fixed at ₹314-₹330 per share.</li></ul>The initial public offering (IPO) of Ahmedabad-based Harsha Engineers International, which manufactures precision bearing cages, has opened today, September 14, and will conclude on September 16. <br /><br />The company plans to raise ₹755 crore through this IPO consisting of a fresh issue of equity shares worth ₹455 crore and an offer for sale by promoters of up to ₹300 crore. <br /><br />Money raised through the IPO will be utilised for debt repayment, funding capital expenditure, purchase of machinery, infrastructure repairs, renovation of the existing production facilities and for general corporate purposes.<br /><br />Ahead of its initial share sale, Harsha Engineers had raised ₹225.7 crore from anchor investors including American Funds Insurance Series Global Small Capitalization Fund, Goldman Sachs Funds - Goldman Sachs India Equity Portfolio, PineBridge Global Funds - PineBridge India Equity Fund and Abu Dhabi Investment Authority-Monsoon. <br /><br />Investor demand for the IPO could be strong as the shares of the company are commanding a premium of ₹210 per share in the grey market. Grey market premium or GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <br /><br />Some key details about the IPO:<br /><table style="border-width: initial; border-style: none;"></colgroup><thead><tr><th 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;"><strong>I</strong>ssue details<br /><br /></th><th 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;"><br /></th></tr><tr><th 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;">Price band<br /><br /></th><th 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;">₹314-₹330<br /><br /></th></tr><tr><th 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 open date<br /><br /></th><th 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;">September 14<br /><br /></th></tr><tr><th 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 close date<br /><br /></th><th 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;">September 16<br /><br /></th></tr></thead><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;">Allotment date<br /><br /></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;">September 21<br /><br /></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;">Initiation of refunds<br /><br /></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;">September 22<br /><br /></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;">Credit of shares to demat account<br /><br /></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;">September 23<br /><br /></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;">IPO listing date<br /><br /></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;">September 26<br /><br /></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;">Minimum lot<br /><br /></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;">45<br /><br /></td></tr></tbody></table><br /><strong>Most analysts recommend subscribing to the IPO <br /></strong>The company’s business comprises two segments – engineering business and solar EPC business. Its engineering business manufactures bearing cages in brass, steel and polyamide materials; complex and specialised precision stamped components; welded assemblies and brass castings, among others.<br /><br />“Harsha Engineers International with its dominant position is well placed to capture the growing bearing cage demand across industries. We like its increasing focus on other specialised precision components and on the growing EV segment which could boost its EBITDA margins,” said analysts at Motilal Oswal. <br /><br />Its solar EPC business provides complete comprehensive turnkey solutions to all solar photovoltaic requirements.<br /><br />“With increasing utilisation rates, turnaround in solar EPC business (6% of revenue) and debt being repaid, we expect return on capital employed (ROCE) to improve to 20% levels in a couple of years. We appreciate HEIL’s quality of business, industry positioning (industry leadership in India) and cash flow generation. We recommend subscribing to the issue,” said a report by Nirmal Bang.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LKP Research<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Religare Broking<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for listing gains<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe<br /><br /></td></tr></tbody></table><br />The company’s profit grew by over four times in the last three financial years. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,339 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹91 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹876 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹45 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹899 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹21 crore <br /><br /></td></tr></tbody></table><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indias-growth-story-more-promising-than-other-ems-says-market-veteran-nilesh-shah/articleshow/94182972.cms">India’s growth story more promising than other EMs, says market veteran Nilesh Shah</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sebi-wont-interfere-with-ipo-pricing-process-says-sebi-chief-madhabi-puri-buch-but-favours-better-disclosures/articleshow/94176189.cms">SEBI won’t interfere with IPO pricing process says SEBI chief Madhabi Puri Buch but favours better disclosures</a>

Harsha Engineers IPO opens today; grey market premium is at ₹210

New Delhi, Adani Solar Energy Kutchh One Limited, a step-down subsidiary of <keyword id="4343578" type="PERSON" weightage="20" keywordseo="Adani-Green">Adani Green</keyword> Energy Limited (AGEL) has commissioned 150 MW solar power <keyword id="6355739" type="UNKNOWN" weightage="20" keywordseo="Project">project</keyword>.<br /><br />In a regulatory filing, Adani Green said that despite all the challenges of global pandemic Covid-19, unprecedented rain and flood in Kutchh, Gujarat, the company's team of experts made it possible to commission the project three months prior to its scheduled commissioning date.<br /><br />This plant has a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) at Rs 2.67/kWh for a period of 25 years. With this commissioning, AGEL's total operational renewable capacity grows to 3,125 MW.<br /><br />"The plant will be connected to our state-of-the-art Energy Network Operation Centre (ENOC) that continuously monitors and analyses performance of 80+ solar and wind plants across diverse locations in India," it said.<br /><br />With the commissioning of this project, AGEL has total renewable capacity of 14,795 MW including 11,670 MW awarded and under implementation projects.<br /><br />Speaking on this development, Vneet S. Jaain, MD &amp; CEO, <keyword id="3828442" type="COMPANY" weightage="20" keywordseo="Adani-Green-Energy-Ltd">Adani Green Energy Ltd</keyword> said: "This is third solar plant commissioned by AGEL over a span of less than a month."<br /><br />"The trend demonstrates our sharp focus on timely project delivery and our long-term vision to achieve renewable capacity of 25 GW by 2025. It also reinforces AGEL's commitment to lead India's transition towards a greener future through a strategic approach and operational excellence," the CEO said.<br /><br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms?upcache=2">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a><br /><a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a><br /></strong><a href="https://www.businessinsider.in/tech/mobile/news/best-smartphone-deals-and-discount-on-amazon-great-republic-day-sale/articleshow/80358909.cms"><strong>Best smartphone deals and offers on Amazon Great Republic Day Sale</strong></a><br />

Adani Green Energy arm commissions 150-MW solar power plant at Kutch, third in a month

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Business Insider/Eugene Kim</span></p><p class="caption">Salesforce CEO Marc Benioff welcomes Uber CEO Travis Kalanick into the winners' circle.</p></div><p></p></div></div>Investors and technology enthusiasts focus on the new: New companies, new products, new technologies. </p><p>But the real runaway successes - the hundred-billion dollar companies - come when a tech product has become such an integral part of everybody's lives that nobody thinks about it anymore. It's just there.</p><p>Think about the Windows PC. The web browser. Google. The iPhone. </p><p>In 2015, there weren't a lot of great new tech products or categories. What was the iPhone of this year? The Apple Watch? Hoverboards? Please.</p><p>Mostly, existing products and companies consolidated their gains. </p><p>These five companies exemplified that trend. None of them rocked the world with a brand new product or category. But all of them quietly consolidated and are well positioned to dominate in 2016.</p><h2><strong>Uber </strong></h2><p>This was the year that the world's largest "startup" became part of the standard vocabulary in the U.S., like Google did in the last decade. "Let's get an Uber" has replaced "Let's call a cab." Uber has even become common in <a href="http://www.xxlmag.com/news/2015/03/14-hip-hop-songs-uber-shout-out/">hip-hop lyrics</a>.   </p><p>Behind the scenes, Uber continued its clever strategy of <a href="http://www.businessinsider.com/uber-apps-are-everywhere-2015-12">making its app available anywhere and everywhere</a> - an expensive prospect that few other app companies bother with - and so far it hasn't been dented by lawsuits that seek to force it to reclassify its drivers as employees rather than contractors.</p><p>One of Uber's earliest competitors, Sidecar, just <a href="http://www.businessinsider.com/sidecar-is-shutting-down-2015-12">threw in the towel</a>. The other big one, Lyft, keeps raising money, but outside of San Francisco and techies in a few other cities like Austin, nobody calls a Lyft. They call an Uber. Lyft's main play now is teaming up with international competitors like Didi (China) and Ola (India) to stop Uber's expansion into those countries. </p><p>Barring some major black swan - a huge global downturn that makes it impossible to raise cash to cover its expansionary burn, some major legal or personnel setback - look for 2016 to be the year where Uber vanquishes all doubt. One big tech winner emerges from the ranks of startups in every generation - Amazon from the dot-com era, Facebook from the web 2.0 era. Uber is the winner of the current post-recession era. </p><p>Uber is still private and <a href="http://www.businessinsider.com/uber-is-about-to-raise-a-giant-round-at-a-65-billion-valuation-heres-how-thats-even-possible-2015-11">restricts its stock trading</a>, but its most recent valuation of $62.5 billion puts it into pretty good company:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Statista</span></p></div><p></p></div></div></p><h2><strong>Facebook</strong></h2><p>Facebook was already ubiquitous in most people's lives before this year, but the company consolidated its gains this year, expanding well beyond a place where people share news about their families and into one of the top communications companies in the world.</p><p>Forget Apple's iMessage - Facebook doesn't even have a mobile phone platform and its Messenger app (which is <a href="http://www.businessinsider.com/facebook-messenger-ambitions-2015-10">just getting started</a>) and WhatsApp apps reach more than a billion people between them.</p><p>Instagram has replaced Facebook as the social app of choice among teens - which is fine, since Facebook owns it. Facebook is turning into one of the top destinations (alongside Google's YouTube) for online video. It's also scaring the pants off the media industry as it becomes the top way people share news stories.</p><p>But perhaps the best evidence of Facebook's consolidation over social media can be seen relative to its two biggest competitors. Twitter's number of monthly average users stalled out this year and it went through a troublesome CEO change and layoffs. LinkedIn is doing better - its monthly average user base <a href="http://investors.linkedin.com/secfiling.cfm?filingID=1271024-15-29&amp;CIK=1271024">grew 11%</a> between Q3 2015 and a year before - but it's a fraction of Facebook's size, at around 100 million monthly users, versus <a href="http://www.businessinsider.com/more-than-1-billion-people-a-day-used-facebook-in-september-2015-11">1.55 billion for Facebook</a>.</p><p>That's right - about one-fifth of the world's people use Facebook at least once a month.</p><p>Meanwhile, Facebook has a ton of futuristic projects cooking, from the virtual reality Oculus Rift, which will launch next year, to gigantic solar-powered drones that beam Internet down to developing countries. It will dominate in 2016.</p><p>Here's Facebook's stock performance for the year - up over 37%.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Yahoo Finance (screenshot)</span></p></div><p></p></div></div></p><h2><strong>Amazon</strong></h2><p>Like Facebook, Amazon the e-commerce site was already ubiquitous in most people's lives, and this year it continued to dominate - more than half of Americans said they'd do <a href="http://www.businessinsider.com/amazon-dominates-holiday-shopping-2015-12">"most"</a> of their holiday shopping on Amazon. WalMart was number two, with only 16%.</p><p>But a lot of people didn't realize how ubiquitous Amazon has become<em> inside</em> businesses as well.</p><p>This was the year that became clear, as Amazon broke out the financial results of its Amazon Web Services business, which allows companies to outsource their computing needs to Amazon's massive world-spanning infrastructure rather than having to build and maintain their own data centers. Surprise number one: It's <a href="http://www.businessinsider.com/aws-earns-1-billion-a-year-on-6-billion-in-profit-2015-4">profitable</a>. Surprise number two: It's already massive, on track to book more than $7 billion in revenue in 2015.</p><p>We've long known that buzzy startups from Yelp to Foursquare to Spotify run on AWS. Now, we know that big companies like Netflix, Intuit, and Juniper (a company that sells networking gear!) are moving their full infrastructure over to AWS as well. Microsoft, Google, and a host of other cloud computing companies are making progress, but Amazon is the one to beat. </p><p>Its stock more than doubled this year - up 125% to date.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Yahoo Finance (screenshot)</span></p></div><p></p></div></div></p><h2><strong>Salesforce</strong></h2><p>Do you use Salesforce every day? If the answer is no, walk over to somebody at your company who is involved with selling your product. Do they use Salesforce every day? Chances are, they do.</p><p>According to <a href="http://www.forbes.com/sites/louiscolumbus/2015/05/22/gartner-crm-market-share-update-47-of-all-crm-systems-are-saas-based-salesforce-accelerates-lead/">Gartner</a>, Salesforce is both the number-one and fastest-growing entry in a product category called CRM, which helps salespeople track leads and sales info. In other words, it's consolidating its top position. Its revenue is growing around 25% per year, and as CEO Marc Benioff continues to remind investors on every earnings call, it is on track to hit $10 billion in annual revenue faster than any other <keyword id="6356323" type="UNKNOWN" weightage="60" keywordseo="Enterprise">enterprise</keyword> sales company.</p><p>But more quietly, Salesforce has also become a major player in the Silicon Valley enterprise ecosystem. It's the <a href="http://www.businessinsider.com/salesforce-is-top-investor-in-saas-2015-10">number-one venture investor in cloud software</a> companies - ahead of every VC firm, with stakes in a bunch of enterprise upstarts on the IPO train, including Box (which went public early this year), Dropbox, and Twilio (both expected to go next year).</p><p>Salesforce has also created the beginnings of a strong ecosystem, with developers building apps that work with companies' Salesforce installations, and an entire app store for companies to download and install them.</p><p>Its quiet rise is reminiscent of how Microsoft went from an enterprise laughingstock in the 1990s - hard to remember now, but IT departments once considered Windows PCs annoying nuisances or toys and never imagined Microsoft software running in their data centers - to one of the top enterprise software companies by the end of the next decade. No wonder Microsoft approached Salesforce with a <a href="http://www.businessinsider.com/buyer-of-salesforce-was-microsoft-2015-5">$50 billion buyout offer</a> earlier this year. And it could try again.</p><p>Salesforce has also delivered a nice 34% gain to investors this year.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Yahoo Finance (screenshot)</span></p></div><p></p></div></div></p><h2><strong>Netflix</strong></h2><p>As Tim Stenovec at our sister site Tech Insider <a href="http://www.businessinsider.com/how-netflix-won-2015-2015-12">pointed out</a>, Netflix has had a banner year, with more than a dozen new shows, Emmy nominations galore, international expansion, and a brand new pop culture expression. (Nobody ever said they were going to "AOL and chill," did they?)</p><p>But the real story here is that TV watching habits are finally starting to change: ratings for TV shows at their scheduled times <a href="http://www.businessinsider.com/tv-ratings-decline-2015-9">fell off a cliff this fall</a>, and the number of U.S. homes with cable TV subscriptions <a href="http://www.businessinsider.com/cable-tv-subscribers-plunging-2015-8">started dropping</a> for the first time ever this year.</p><p>Cord-cutting is real, and Netflix has pole position as the top creator of online-delivered TV-like entertainment. Amazon may be nipping at its heels, and industry players like Hulu may catch up, but Netflix pioneered the way.</p><p>Plus, it's had the best performance this year of any major tech stock - up more than 144%:</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Yahoo Finance (screenshot)</span></p></div><p></p></div></div></p><h2><strong>What about...?</strong></h2><p>There are a lot of big, older companies that did OK this year but did not set the world on fire. Briefly:</p><ul><li><strong>Apple </strong>remains the biggest company in the world, but faces the possibility of a first-ever decline in iPhone sales, and its high profile product launches last year - the Apple Watch, Apple Music, and Apple TV - were so-so to poor. Apple will continue to be a massive cash generating machine, but 2015 was a building year, or as Nilay Patel at <a href="http://www.theverge.com/2015/12/28/10676272/2015-apples-year-in-beta">The Verge aptly wrote</a>, this was a beta year. Not a power consolidation year.</li><li><span style="text-decoration: line-through;"><strong>Google </strong></span><strong>Alphabet. </strong>When the most important events of your year are a name change, business restructuring, and a big government antitrust investigation, it's hard to call that a winning year. Google's core ad business remains strong, its revenues and profits are still growing nicely, and and it clearly won the search wars once and for all. But Android is still fragmenting, Facebook is nipping at its heels in video, and none of the new Alphabet projects have taken off yet. 2015 was a reset year for this company. We'll see if it can gain ground next year.</li><li> <strong>Microsoft. </strong>Everybody loves a comeback, but even with the relative success of Windows 10, the fact remains that Microsoft's mobile platform strategy has largely failed and it's been relegated to distributing its (very lucrative) Office apps on Apple's and Google's mobile platforms. Microsoft also seems to be successfully navigating the enterprise shift to the cloud, but it's still well behind Amazon - which, 10 years ago, had no enterprise business at all. Hololens looks amazing, but it's not out yet. Satya Nadella is a breath of fresh air, but he inherited low expectations. The company's next few earnings reports will be telling.</li></ul><p>There are also a bunch of younger companies that still have some proving to do. Two to note:</p><ul><li><strong>Snapchat </strong>is growing like crazy - unlike its social media competitors outside Facebook -  but there's this weird age barrier where nobody over 30 can figure out what it's about. That's not the sign of a mainstream success, that's the sign of a fad. Snapchat could certainly change that like Facebook did, but it's too early to say.</li><li><strong>Airbnb</strong> is often mentioned in the same breath as Uber as one of the companies helping normal people make use of excess capacity (homes instead of cars), but it's not as ubiquitous as Uber is yet. Plus, where's its mobile strategy? Everyone knows you order an Uber and visit Facebook from your phone. Airbnb is still a desktop kind of thing, mostly, with no obvious mobile component.</li></ul><p>Anybody you think I missed? Make your case in comments, or drop me an angry email. </p><p class="tagline">Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.</p>

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