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New Delhi, Chemicals maker <keyword id="10487971" type="General" weightage="20" keywordseo="Anupam-Rasayan" source="Orion">Anupam Rasayan</keyword> India Ltd on Tuesday posted a marginal increase of 1.84 per cent in consolidated net profit at Rs 48.69 crore in the second quarter of the current fiscal year. The company's net profit stood at 47.81 crore in the same quarter of the previous year, according to a regulatory filing. Total income rose to Rs 395.61 crore during the July-September quarter of the 2023-24 fiscal, from Rs 383.14 crore in the year-ago period. Expenses remained slightly higher at Rs 324.94 crore in the period under review, as against Rs 315.72 crore in the said period. "Amidst the challenging external environment, I am happy that we have been able to hold our ground and deliver some growth," said Anupam Rasayan Managing Director Anand Desai. In the first half of the current fiscal, total revenue rose to Rs 794.4 crore, reflecting a robust year-over-year growth of 11 per cent. Our strong margins at 28 per cent for the first half this year are a testament to the company's unique business model, he said. During this quarter, the company launched three new molecules, bringing the total to five by the end of H1 of the 2023-24 fiscal, he said, adding "we will launch an additional five molecules by the close of FY24." Desai further said, "we are seeing a resurgence in demand, which instills confidence of delivering growth in coming quarters. This bolsters our confidence in achieving consistent growth and maintaining our margin profile." The company has also signed three memorandum of understanding (MoUs) with the Gujarat government for afforestation in a bid to balance carbon emissions and achieve energy neutrality by 2027. Anupam Rasayan said the board has approved issuance of 19.04 lakh equity shares on a preferential basis to promoters and 39.14 lakh convertible warrants on preferential basis to non-promoters. The Gujarat-based company has a manufacturing capacity of 27,200 tonnes spread over six facilities.

Anupam Rasayan Q2 net profit up 1.84% to Rs 48.69 cr

<ul><li>A ₹760-crore initial share-sale of <keyword id="10487971" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan">Anupam Rasayan</keyword> is set to make its way to the public markets on Friday (March 12).</li><li>Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries.</li><li>The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95% of its revenues in 2019-20.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>A ₹760-crore initial share-sale of speciality chemical company Anupam Rasayan is set to make its way to the public markets on Friday (March 12). The company has fixed a price band of ₹553-555 a share for its IPO. The three-day public issue will close on March 16. It plans to use the funds to repay its debt partly. As of September, the company had a total debt of ₹814.48 crore, and it plans to repay at least ₹556.20 crore in debt. The Surat-based company has reserved about 2.20 lakh shares for employees. Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders. Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries. Anupam Rasayan’s business has two verticals — life science related to speciality chemicals and other speciality chemicals. The life science-related speciality chemicals are used in agrochemicals, personal care, and pharmaceutical sectors, whereas the other is used for pigment, dyes, polymer additives, etc. <keyword id="10487969" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan-IPO">Anupam Rasayan IPO</keyword> opens on Friday <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 12 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 15 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹553-555 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">27 equity shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for qualified institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for non-institutional buyers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reservation for retail investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital, Ambit Private, IIFL Securities, and JM Financials are the book running lead managers for its public offering IPO. Anupam Rasayan IPO: All you need to know <ul><li>The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95% of its revenues in 2019-20. Its clients include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited.</li><li>Anupam Rasayan has six multi-purpose manufacturing facilities based in Gujarat with a combined installed capacity of around 23,396 metric tonnes, of which 6,726 metric tonnes was added in March last year.</li><li>Its revenue from operations increased by 45% to ₹539.22 crore in the nine months ended December 31 from ₹371.80 crore in the corresponding year-ago period.</li><li>The grey market is ready to pay a hefty premium for its shares ahead of the IPO. The shares were commanding a premium of ₹290 apiece at a fixed price band of ₹553-555.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/oyo-vs-zo-zostel-claims-victory-while-the-ritesh-agarwal-led-firm-says-theres-still-room-to-win/articleshow/81386851.cms">OYO vs Zo – Zostel claims victory while the Ritesh Agarwal-led firm says there’s still room to win</a><a href="https://www.businessinsider.in/business/startups/news/oyo-vs-zo-zostel-claims-victory-while-the-ritesh-agarwal-led-firm-says-theres-still-room-to-win/articleshow/81386851.cms"></a> <a href="https://www.businessinsider.in/stock-market/news/sensex-up-300-points-nifty-crosses-15000-banks-oil-stocks-lead/articleshow/81386563.cms">Sensex up 300 points, Nifty crosses 15,000 — banks, oil stocks lead</a><a href="https://www.businessinsider.in/stock-market/news/sensex-up-300-points-nifty-crosses-15000-banks-oil-stocks-lead/articleshow/81386563.cms"></a> <a href="https://www.businessinsider.in/india/news/international-womens-day-take-a-look-at-some-of-the-finest-achievements-by-indian-women/slidelist/81385710.cms">International Women’s Day: Take a look at some of the finest achievements by Indian women</a>

Anupam Rasayan’s ₹760 crore IPO is set to open on Monday — price band for the issue at ₹553-555 per share

<ul><li>Shares of Anupam Rasayan listed on the stock exchanges at ₹520 per share, which is over 6% lower than the issue price.</li><li>The company’s initial public offer (IPO) was oversubscribed by 44 times.</li><li>It intends to use a bulk of the proceeds of the IPO towards repaying its debts.</li></ul>Shares of Anupam Rasayan, the latest company to get listed on the Indian stock exchanges, debuted at ₹520 per share, which is more than 6% below its issue price of ₹555. The specialty chemical maker floated its ₹760 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 44 times, with non-institutional investors leading the fray. At the time (10:05 am) of writing, the company’s shares were trading at ₹512 per share, which is down by nearly 8%. The Surat-based Anupam Rasayan plans to repay its debts worth ₹556.20 crore from the proceeds of the IPO. Its total debts amount to ₹814.48 crore. The grey market premium for Anupam Rasayan’s shares was hovering around the ₹65-70 mark, which translates to approximately 12% of the issue price of ₹555. It is worth noting that grey market premium is not an official measure of market premium. Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes specialty chemicals that involve multi-step synthesis and complex chemistries. The company’s business is divided in two verticals – life science related to specialty chemicals and other specialty chemicals. In its IPO note, HDFC Securities stated that Anupam Rasayan’s business and customer-base is diversified across industries, which shields it from the market uncertainties. “Its customers are typically engaged in various industries, including agrochemicals, personal care, pharmaceuticals, specialty pigments and dyes, and polymer additives, and spread across various geographies, which helps it mitigate risks resulting from customer, industry and geographic concentration,” said HDFC Securities in its report. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-suryoday-small-finance-bank-ipo-online/articleshow/81647204.cms">Suryoday Small Finance Bank IPO allotment live – how to check allotment, listing date and more</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing

<ul><li>The Surat-based company, Anupam Rasayan, kicked off its public offering today, and the issue will remain open for subscription till March 16.</li><li>The company has fixed a price band of ₹553-555 a share for its IPO.</li><li>The aggressively priced IPO has received mixed recommendations from investment experts.</li><li>Some believe the current valuations exceed growth prospects, while others bet on long-term gains, robust growth, and market share gains.</li></ul>A ₹760-crore initial share-sale of speciality chemical company Anupam Rasayan is now open for public subscription. The Surat-based company kicked off its public offering today, and the issue will remain open for subscription till March 16. It plans to use the funds to repay its debt partly. As of September, the company had a total debt of ₹814.48 crore, and it plans to repay at least ₹556.20 crore in debt. The company has fixed a price band of ₹553-555 a share for its initial public offering (IPO). Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders. Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries. Anupam Rasayan's business has two verticals — life science related to speciality chemicals and other speciality chemicals. The life science-related speciality chemicals are used in agrochemicals, personal care, and pharmaceutical sectors, whereas the other is used for pigment, dyes, polymer additives, etc. The aggressively priced IPO has received mixed recommendations from investment experts. Some believe the current valuations exceed growth prospects, while others bet on long-term gains, robust growth, and market share gains. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi Financial Services </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> Here's what works for it and what doesn’t The aggressively priced IPO According to a Reliance Securities IPO note, the <keyword id="10487969" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan-IPO">Anupam Rasayan IPO</keyword> is demanding a price-to-earnings (PE) of 80 times FY20 earnings and 69 times FY21 annualised earnings, which look aggressively priced. It further added that considering capacity utilisation of 75% in the first nine months of FY21 and likely interest cost savings from debt repayment from IPO proceeds, we believe its earnings can potentially grow 35-40% compound annual growth rate over FY20-23. Despite factoring this, the stock would trade at over 40 times of FY23 earnings, which is expensive compared with its quality peers like SRF and PI Industries. Strong and long-term relationships with diversified customers According to HDFC Securities, the company has developed strong and long-term relationships with various multinational corporations that have helped to expand its product offerings, processes and geographic reach. “Its customers are typically engaged in various industries, including agrochemicals, personal care, pharmaceuticals, specialty pigments and dyes, and polymer additives, and spread across various geographies, which helps it mitigate risks resulting from customer, industry and geographic concentration,” it added. The company has established relationships with various multinational corporations, such as Syngenta Asia Pacific, Sumitomo Chemical Company Limited and UPL Limited, across Europe, Japan, the United States and India. Consistent track record of financial performance The company has demonstrated consistent growth in terms of revenues and profitability. The revenue from operations has increased at a CAGR of 24.29% from ₹349.18 crore in FY2018 to ₹539.38 crore in FY2020. The company’s profit has also grown nearly 45% from ₹73.5 crore in FY18 to ₹134.9 crore in FY20. <div type="image" title="_Anupam Rasayan" msid="81462795" hostid="261"></div> Client concentration remains a key risk According to ICICI Direct, the top five clients constitute 50% of its overall revenue, while the top 10 clients contribute to the tune of 84%. “Since the company has different major customers in its business profile, any loss in customers can impact order backlog and thereby revenue performance,” the analyst report said. On the other hand, Angel Broking believes the company has significant indebtedness, and an inability to comply with repayment could adversely affect the business. It further added that the company is experiencing insufficient cash flows to meet required payments on debt and working capital requirements, which could have an impact on operations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-jumps-500-points-nifty-above-15200-banking-metal-stocks-shine/articleshow/81460616.cms">Sensex jumps 500 points, Nifty above 15,200 — banking, metal stocks shine</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-jumps-500-points-nifty-above-15200-banking-metal-stocks-shine/articleshow/81460616.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/kamala-harris-will-also-participate-in-the-first-quad-summit-with-joe-biden-and-narendra-modi/articleshow/81460216.cms">Kamala Harris will also participate in the first Quad summit with Joe Biden and Narendra Modi</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/kamala-harris-will-also-participate-in-the-first-quad-summit-with-joe-biden-and-narendra-modi/articleshow/81460216.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/these-are-the-top-five-cars-with-the-highest-waiting-period-in-india/slidelist/81459899.cms">These are the top five cars with the highest waiting period in India</a>

The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't

<ul><li><keyword id="16271677" type="General" weightage="20" keywordseo="bullspree" source="Orion">Bullspree</keyword> is a stock market gaming platform that lets users participate in contests and win money by creating a portfolio of stocks.</li><li>‘Stock market ke fear ko fun me badalte hai,’ said co-founder Bavishi while inviting sharks to invest in the app.</li><li><keyword id="158171" type="General" weightage="20" keywordseo="Aman-Gupta" source="Orion">Aman Gupta</keyword>, co-founder of boAt and <keyword id="824423" type="General" weightage="20" keywordseo="Peyush-Bansal" source="Orion">Peyush Bansal</keyword>, CEO of Lenskart together made an offer for ₹75 lakh for 2.86% equity. </li></ul>It is not easy to earn money in the stock markets, mostly because very few people understand the nitty gritties of markets. An Ahmedabad-based startup Bullspree aims to educate people about market fundamentals through fun contests. Bullspree is a stock market gaming platform that lets users participate in contests and win money by creating a portfolio of stocks and competing with other users. Bullspree was co-founded by Harsh Dhanawat, Dharmil Bavishi, and Divyansh Mathur in November 2020. It is an experiential stock market gaming and learning mobile app that offers fun games about financial markets that can help users understand market dynamics better. “Stock market ke fear ko fun me badalte hai,” said co-founder Bavishi while inviting sharks to invest in the application in the second edition of <keyword id="1417364" type="General" weightage="20" keywordseo="shark-tank" source="Orion">Shark Tank</keyword>. The founders asked for ₹75 lakh investment from sharks for 1.5% equity at a valuation of ₹50 crore. Most sharks declined to invest in Bullspree on risky business nature While the presentation by the founders of the stock gaming platform impressed sharks, they refused to invest in the startup because of its risky nature of the business. <keyword id="127971" type="General" weightage="20" keywordseo="Anupam-Mittal" source="Orion">Anupam Mittal</keyword>, founder of Shaadi.com concluded that Bullspree is like a fantasy gaming platform. “You are Dream11 for financial stocks, fantasy trading ho gaya,” said Mittal. “Basically, we are an experiential learning platform jisse app well versed hote ho aur confidence build karte ho,” Bavishi responded. Sharks highlighted that their competitor StockGro is in a similar line of business. That may hamper the potential market share and growth in the future. <keyword id="246967" type="General" weightage="20" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, CEO of SUGAR Cosmetics and Namita Thapar, executive director at Emcure Pharmaceuticals were shocked that the startup’s valuation rose to ₹50 crore from ₹26.5 crore in February 2022. The startup said that it generated sales to the tune of ₹18.5 lakh with a gross transaction value of ₹90 lakh, in recent months. On a monthly basis, the company has been growing 100% as it tied up with colleges. Average revenue per paid user of the company has increased to ₹322 from ₹21 earlier, says Dhanawat on the reality show. Thapar declined to make an offer by saying there is no unique differentiator that Bullspree offers, as compared to its competitors. At the end, Aman Gupta, co-founder of boAt and Peyush Bansal, CEO of Lenskart together made an offer for ₹75 lakh for 2.86% equity at ₹26.22 crore valuation. The offer was accepted by the founders. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-20000-crore-fpo-now-open-analysts-maintain-cautious-optimism/articleshow/97369358.cms">Adani Enterprises’ ₹20,000 crore FPO now open, analysts maintain cautious optimism</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-companies-lose-3-22-lakh-crore-in-market-value-amidst-tussle-with-hindenburg-research/articleshow/97374612.cms">Adani Group companies lose ₹3.22 lakh crore in market value amidst tussle with Hindenburg Research</a>

An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks

<ul><li>Jyoti Bharadwaj founded a healthy drinks startup <keyword id="16020211" type="General" weightage="100" keywordseo="teafit" source="Orion">TeaFit</keyword> in 2021, and it has sold ₹15 lakh worth of products as of now. </li><li>TeaFit served over 20,000 customers through online and offline channels. </li><li>Bharadwaj walked away with a collective investment of ₹50 lakh for 8% equity from four sharks, <keyword id="246967" type="General" weightage="20" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword>, Peyush Bansal, <keyword id="127971" type="General" weightage="20" keywordseo="Anupam-Mittal" source="Orion">Anupam Mittal</keyword>, and Aman Gupta. </li></ul>A mompreneur from Mumbai, Jyoti Bharadwaj, left all the <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword> judges impressed with her beverage company, TeaFit. TeaFit produces zero-calorie healthy drinks made with natural herbs and ingredients, without sugar or a sweetener. Started in 2021, the brand offers Green Tea, Black Tea and Barley Tea, along with instant premixes. A fan of Shark Tank US and a mother of two young kids, Bharadwaj gave a sharp pitch, spouting off minute details about the product’s pricing and packaging. At the start of the pitch, she brought her two young children aged eight and five with her. They have been a part of her entrepreneurial journey, she told the judges. “I have watched every episode of every season of Shark Tank US many times over the years. I have replayed so many of the pitches in my mind - Scrub Daddy, Drink Poppi, Bantam Bagels, and many others. I am just so incredibly grateful to get a national platform to talk about TeaFit, why we do what we do and our vision for the future,” shared <a href="https://www.linkedin.com/feed/update/urn:li:activity:7016978429694636032/">Bharadwaj on her Linkedin</a>, four days before her Shark Tank India episode aired. <cmsannotation type="cmsannotation" annotationid="Startup’s value zooms from ₹2 cr to ₹6.25 cr" comment="subhead2" text="Startup’s value zooms from ₹2 cr to ₹6.25 cr">Startup’s value zooms from ₹2 cr to ₹6.25 cr</cmsannotation> After sampling her teas on the show, even Aman Gupta, boAt co-founder, who loves sugary drinks was left impressed. Bharadwaj initially asked for ₹50 lakh for 3% equity which valued the company at ₹16.67 crore. She said that TeaFit received a term sheet of ₹1 crore that valued her startup at ₹20 crore in convertible notes. A convertible note is a type of bond offered by companies, which can be converted later into equity. Sugar Cosmetics’ co-founder Vineeta Singh and Shaadi.com’s founder Anupam Mittal jointly gave the first offer — ₹50 lakh for 25% equity, which valued the company at ₹2 crore. Lenskart’s co-founder Peyush Bansal followed with an offer of ₹50 lakh for 20% equity, which raised its value to ₹2.5 crore. However, it was boAt co-founder Aman Gupta’s offer, of ₹50 lakh for 10% equity, that immediately doubled the valuation to ₹5 crore. Bansal, Singh and Mittal instantly responded that they would match Gupta’s offer. Bharadwaj sought a collective investment of ₹50 lakhs from all four judges, but for 8% equity. This valued the startup at ₹6.25 crore. The judges accepted this offer. <cmsannotation type="cmsannotation" annotationid="When mother-in-law turned investor" comment="subhead2" text="When mother-in-law turned investor">When mother-in-law turned investor</cmsannotation> After graduating from the Manipal Institute of Technology, Jyoti Bhardwaj who hails from Patna pursued an MBA in Finance and Marketing from the Indian School of Business (ISB). She worked with the startup UrbanFresh and real-estate portal Housing.com before starting her entrepreneurial journey with TeaFit. TeaFit got its first investment of ₹10 lakh from Bhardwaj’s mother-in-law, Dr Urmila Pandey. Her mother-in-law is a PhD holder and a former professor who had to give up her professional career due to family obligations. But she kept the spirit of financial independence and ambition alive in her daughters and daughter-in-law. The first commercial batch of TeaFit was launched in March 2021. Bharadwaj had signed up with national retail chains before going into production. Shortly after the launch, a second lockdown was imposed in India. Undeterred, Bharadwaj <a href="https://www.youtube.com/watch?v=-T1p3MXT4B8&amp;t=4s&amp;ab_channel=SellonAmazonIndia">partnered </a>with e-commerce giant Amazon. “As we got the product into the stores, the second lockdown started. Before the product could even reach the customers, the doors were closed,” shared Bharadwaj in a video with Amazon. In FY22, TeaFit made a profit of ₹78,000 from sales worth ₹15.5 lakh, with zero advertising spend. The startup forecasts that it will end FY23 with revenue to the tune of ₹45-₹55 lakh, based on the sales in July, August and September. “Over the last 12 months during subsequent batches, every single one of my fears has come true. Bottles came out distorted, filters got choked, entire batches were trashed, labels didn’t fit, long power cuts, over-brewing you name it. But you know what? We made it past every single one of them and have consistently produced world-class beverages batch after batch,” shared Bharadwaj a year after TeaFit started, in <a href="https://www.linkedin.com/feed/update/urn:li:activity:6899322380678701056/">an old LinkedIn post</a>. TeaFit has served over 20,000 customers through online and offline channels. As much as 35% of its sales come from online channels, while the remaining 65% come from offline channels. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/ex-senior-vp-of-paytm-former-ceo-of-tata-cliq-will-now-head-global-business-for-meta-india/slidelist/96878322.cms">From Tata CLiQ to Paytm to Meta India: the professional journey of Vikas Purohit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/iqoo-11-vs-oneplus-11-smartphone-comparison-of-price-specification-and-features/slidelist/96876758.cms">New flagship phones iQOO 11 vs OnePlus 11 – specs and features compared</a>

Shark Tank S2: Sugar loving shark buys into no-calorie iced teas biz

<ul><li>At 8:45 am, the SGX Nifty was up 0.57%, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock indices are likely to start in the green on Friday, led by mixed cues from the global markets. At 8:45 am, the SGX Nifty was up 0.57%, indicating a higher start for Nifty50. In the US, <a href="https://www.businessinsider.in/stock-market/news/heres-why-stocks-are-at-record-highs-following-the-capitol-chaos-in-dc/articleshow/80160476.cms">Wall Street overcame the disappointment from the riots in Capitol Hill and</a> celebrated the Democrats taking control of the US Congress after the victory in the Senate runoff elections in Georgia. The Dow Jones Industrial Average closed 211 points higher, and the S&amp;P 500 was up 1.48%. Nasdaq hit an all-time high. While Asian markets reflect the optimism in the US, the American dollar has weakened further and crude oil has seen the best close in a year. All these factors will contribute to the movement in stocks, aside from stock-specific news triggers. These are the stocks to watch out for during the trading session today: TCS The Tata Group company, Tata Consultancy Services (TCS) is slated to report its third-quarterly earnings today. The street is expecting a strong growth in revenue compared to three months ago. More importantly, the country’s biggest software exporter is expected to gain more market share from key competitors like Capgemini and Cognizant. ONGC ONGC told the stock exchanges that it plans to borrow ₹1,500 crore from private investors, offering an interest of 4.5% per year, via non-convertible debentures (NCD) with a face value of ₹10 lakh. These will be unsecured, listed i.e. tradeable, redeemable, non-cumulative, and taxable. NHPC NHPC informed investors that the National Company Law Tribunal (NCLT) has approved its ₹165 crore resolution plan for taking over Jalpower Corp. JPCL is undergoing a corporate insolvency resolution process that was initiated on April 9, 2019, via NCLT. Tata Power Tata Power announced that it has taken over the management and operations of Odisha’s power distribution utilities WESCO and SOUTHCO upon completion of the sale process. With this, WESCO and SOUTHCO will operate under the company name as TP Western Odisha Distribution Ltd (TPWODL) and TP Southern Odisha Distribution Ltd (TPSODL) respectively. Punjab National Bank The state-owned Punjab National Bank has partnered with IIT Kanpur and the Foundation for Innovation &amp; Research in Science &amp; Technology (FIRST) for establishing an innovation centre at the institute's campus. Under this partnership, PNB and IIT Kanpur will set up a 'Fintech Innovation Centre (FIC)' as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space, the bank said in a statement. Bharat Rasayan The board of Bharat Rasayan will meet on January 12 to consider the proposal of buyback of equity shares. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ducati-is-launching-12-new-bikes-in-india-in-2021-check-the-launch-dates-here/articleshow/80146997.cms" data-type="tilCustomLink">From Scrambler and Multistrada to Monster and SuperSport — Ducati is launching 12 new bikes in India, check the launch dates here</a> <a href="https://www.businessinsider.in/politics/world/news/a-timeline-of-how-trump-in-his-final-weeks-incited-his-followers-to-storm-the-capitol-and-attempt-a-coup/articleshow/80149175.cms" data-type="tilCustomLink">A timeline of how Trump in his final hours incited his followers to storm the Capitol and attempt a coup</a>

TCS’ market share, ONGC’s borrowing, Tata Power gets new territories⁠— these and other top stocks to watch

<ul><li>Shares of <keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> listed on the stock exchanges at ₹1,359 per share, which is nearly 9% less than the issue price.</li><li>The company’s initial public offer (IPO) was oversubscribed by 3.82 times.</li><li>It intends to use parts of the proceeds towards repaying its loans worth ₹120 crore, while the rest will go to shareholders selling their shares – the promoters and investors.</li></ul>Shares of Craftsman Automation, a Coimbatore-based manufacturer of engineering products, debuted at ₹1,359 per share, which is nearly 9% lower than its issue price of ₹1,490. At 10:05 am, the share price of Craftsman Automation was hovering around ₹1,415, down by 5% over the issue price. The engineering products and services company floated its ₹824 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 3.82 times, with qualified institutional investors leading the fray. The Coimbatore-based Craftsman Automation plans to repay its debts worth ₹120 crore from the proceeds of the IPO. The remaining amount will go to the promoters and investors who are selling their shares. The grey market premium for Craftsman Automation’s shares was hovering around the ₹30-35 mark, which translates to approximately 2% of the issue price of ₹1,490. It is worth noting that grey market premium is not an official measure of market premium. Craftsman Automation commenced operations in 1986. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial &amp; engineering. Craftsman is the leading player when it comes to machining of cylinder blocks and cylinder heads which are used in the commercial vehicles and construction equipment industries. It is also one of the top companies when it comes to supplying these parts in the tractor segment. In its IPO note, SMC Global Securities stated that Craftsman Automation’s revenue is diversified across customers, which shields it from the market uncertainties. “Its diversification of revenue across multiple customers allows it to prevent any possible customer concentration in any of its business segments,” stated a report by SMC Global Securities dated March 10. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

Those who got Craftsman Automation IPO shares lost 9% of their investment in the first tick

<keyword id="314991" type="COMPANY" weightage="80" keywordseo="Timex-Group">Timex Group</keyword> is planning to tap India's wearables market with its smart watches and fitness bands. It's looking at gaining a share of as much as 15% of the market. "We are aiming to sell more than 5 lakh wearable devices in India by the end of the ongoing financial year," Anupam Mathur, head of sales and marketing at <keyword id="156502" type="COMPANY" weightage="80" keywordseo="Timex-Group-India">Timex Group India</keyword>, told ET. This would account for 10-15% of overall volume and value sales in India, he said.
 Timex launched the Ironman Run x20 GPS <keyword id="1009777" type="UNKNOWN" weightage="80" keywordseo="SmartWatch">smartwatch</keyword> and Ironman Move x20 fitness band, priced at 11,995 and 8,995, respectively, on Monday. <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> will be the sole distributor of these devices in India in the current year.
 Chinese smartphone maker <keyword id="874458" type="COMPANY" weightage="80" keywordseo="Xiaomi">Xiaomi</keyword> recently launched fitness device Mi Band, which will go on sale May 5, via its own ecommerce website. With a 999 price tag, the Mi Band is expected to provide a much-needed push to the country's wearables market.
 In India, the market is at a nascent stage, selling a handful of products such as smartwatches and fitness bands launched by handset makers such as Samsung, Sony, Motorola and <keyword id="2325278" type="UNKNOWN" weightage="80" keywordseo="Alcatel-Onetouch">Alcatel OneTouch</keyword>. Sales of wearable devices such as smartwatches and fitness bands totaled 1 lakh units in India in 2014 and is estimated to rise to slightly above half a million in 2015, according to Counterpoint Research. The smart wearables market in India during the first quarter of 2015 was 0.08 million units with smart watches contributing to 40% of shipments and smart bands contributing to 60%, according to Counterpoint Research. 
	 
	(Image: Gizmodo)

Now here's a smartwatch from Timex for just Rs 12,000. It looks good too

<ul><li><keyword id="4511745" type="PERSON" weightage="20" keywordseo="too-yumm">Too Yumm</keyword>! that was launched its journey in 2017 roped in cricketer <keyword id="6354486" type="PERSON" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> as its face pretty early in its journey.</li><li>Having Kohli as its face, along with various partnerships like <keyword id="6354312" type="COMPANY" weightage="20" keywordseo="IPL">IPL</keyword> and Inside Edge 2 have helped the brand stay visible. </li><li>Too Yumm! has expanded to many international markets and now is on its way to enter the kid’s category.</li></ul> The <keyword id="724092" type="COMPANY" weightage="20" keywordseo="RP-Sanjiv-Goenka-Group">RP-Sanjiv Goenka Group</keyword> (RPSG) ventured into the food and snacking category in 2017 with the launch of its low-calorie snacks brand, Too Yumm. The step was aimed at helping the group further its foray into the FMCG segment, which it considers to be a major growth driver. Since then, the brand has done its bit to make itself heard. It roped in Virat Kohli as a face of the brand, advertised heavily during IPL and recently partnered with Amazon Prime Video for the second season of its popular web series, Inside Edge. It has also recently came out with a high decibel campaign around four of its new flavors. Since its launch, the brand and done enough and more to stay in the public eye. Moreover, within 2 years of its launch, the brand has been able to scale its operations to reach a Rs 200 crore sales run rate in April 2019, becoming the country’s fastest growing healthy snacking brand in India. Following the reception it got in the country, it also spread to international markets including Singapore, Australia, Dubai, Oman, Bangladesh and Nepal. In a recent conversation with <keyword id="5831697" type="PERSON" weightage="20" keywordseo="Anupam-Bokey">Anupam Bokey</keyword>, CMO, RPSG, FMCG (<keyword id="4326807" type="COMPANY" weightage="20" keywordseo="Guiltfree-Industries">Guiltfree Industries</keyword>), we talk about all the brand has done so far in terms of marketing, and how it further plans to establish itself in a market that is still only opening up to the idea of healthy snacking. Edited excerpts: Q) Healthy snacking as an idea is slowly picking pace in India. Have you been able to convince consumers that healthy really means healthy and doesn’t really mean it won’t taste good? For over two years now, we have built our product around its core of healthy snacking. We waited to first successfully establish ourselves as a dominant player in the healthy snacking category before we could shift our focus to taste. By rolling out our recent flavors campaign, we have done just that. We have identified India’s favorite flavors and incorporated them into our snacks to provide an offering that ranks high on both taste and health benefits. I believe that through the flavors campaign, we will be able to convince our customers that leading a healthy lifestyle won’t mean compromising on taste. Q) Tell us a bit about the recently launched campaign and the thought behind it? Over the years, we have built our brand proposition around the health benefits of Too Yumm! Having established ourselves as a strong player in the category, we now wanted to shift our focus to what consumers tend to take into consideration, more often than not, when deciding between snacks. With our flavors campaign rolling out this year, we have identified India’s favorite flavors and incorporated them into our snacks. What makes our products stand out here is the fact that these flavors have been made specifically to cater to the Indian palete. Our new campaign ‘Har Craving ka Jawaab’ aims to position Too Yumm! as the perfect guilt-free solution to all cravings, irrespective of where or when they arise. The ad campaign reveals India’s favorite flavors according to Virat Kohli – Noodle Masaala, Dahi Pappdi Chaat, Chilli Chataka and Chilli Achaari. The TVCs deliver a strong message that no matter where or when a craving arises, it can be aptly satisfied by opening a pack of your favorite Too Yumm! flavor. Q) How has roping in Virat pretty early in your brand journey helped you build your brand image? We realized rather early on in our journey that to succeed in the healthy snacking category, we would need an influencer. With influencers picking only brands and causes that they support and can get behind, consumers take their opinions into consideration before making a purchase. For us, making Virat our health ambassador helped us successfully reach our target audience and convey the right message. Virat’s personality matches that of our brand and hence our consumers get the right idea. We make sure to rope in our health ambassador in most, if not all our communications with our consumers. Additionally, since he is an inspirational personality representing the most-loved sport of our country and falls within the target age bracket, the match seemed ideal. Being an inspiration to the youth of the country, Virat is admired for his fitness regime and healthy lifestyle. Keeping this in mind, when youngsters look at Virat endorsing and enjoying our brand, they immediately associate it to health and wellness. Our latest ad campaign built around the new flavours shows Virat satisfying his cravings by opening a pack of Too Yumm! Hence, making Too Yumm! an aspirational product for the millennial generation by default. Q) Are there any new categories that Too Yumm! is currently looking at entering? Our next aim is to expand our presence among kids. Since we have already established ourselves in the healthy snacking category and have the parents’ trust on our side, we believe now would be the right time to provide a greater variety of offerings to the children. Q) How was 2019 for brand Too Yumm? Can you share some growth figures? What are your targets for 2020, and how do you aim to achieve these numbers? 2019 has been a good year for us overall. We stayed true to the core of ‘Health’ for our brand and entrenched it further with the genres relevant to us – like sports, travel, music, humour, and health; associated with platforms such as Kumbh, IPL, Karare Strikers gaming, Amazon Prime – Inside Edge Season 2, Mughl-e-azam. In 2019, we also became the first and only FMCG brand to set a Guinness World Record at the Kumbh Mela 2019 by lighting the world’s largest diya as a symbol of good health. Within just 2 years of operation, we have managed to scale operations to reach a Rs 200 crore sales run rate by April 2019 – becoming the country’s fastest growing healthy snacking brand in India. Based on our success in India, we have also expanded distribution to International markets with Singapore, Australia, Dubai, Oman, Bangladesh and Nepal being some of the latest additions. From 5 variants and 15 flavours in the market, we aim to continue growing the healthy snacking market with the launch of newer variants and expansion to new markets. Our latest campaign focuses on the 4 hero flavors of Too Yumm! that are made to suit the India palate. Having established ourselves as a healthy snacking option, we want to introduce Too Yumm! in the kids market as well. So in totality, we have a lot of work and great plans in the pipeline for the brand. Q) How critical a role will your FMCG offerings play in RP <keyword id="6355523" type="PERSON" weightage="20" keywordseo="sanjiv-goenka">Sanjiv Goenka</keyword> Group’s overall growth? FMCG is just in its third year from a start-up; and in the very large RPSG group it’s a rather late entrant and small contributor currently. However it’s one of the most disruptive initiatives within the group that has a large vision and ambition for FMCG play with a very strong focus for the future. Q) What’s your primary media mix? We have a healthy media mix but a larger share of our communication is through TV and digital platforms as that provides us with requisite width to reach and engage our consumers. Q) Going ahead, what will be your broad marketing strategy to grow the brand further and capture a bigger market share? Our marketing strategy is more or less the same to reach our target audience – to provide our consumers with healthy yet tasty options for guilt free bingeing.

Having established itself in the healthy snacking category, Too Yumm! to foray into kid’s category soon

Food and grocery delivery behemoth <keyword id="6358977" type="General" weightage="20" keywordseo="Swiggy" source="Orion">Swiggy</keyword> is on a roll, pushing out multiple new services simultaneously, ahead of the festive season, and its much-touted Rs 11,664 crore IPO. Experts anticipate the IPO to hit the bourses in the upcoming months. Earlier last week, the company's shareholders had approved of raising the fresh issue component of the IPO, from Rs 3,750 crore previously to Rs 5,000 crore. This will allow Swiggy to add an extra Rs 1,250 crores to its coffers for future growth. The remaining Rs 6,664 crore will be an OFS (offer for sale), largely paving a way for Swiggy's old investors to exit. In the buildup to its IPO, the delivery giant is dialing up the competitive fever big time with rival <keyword id="19901323" type="General" weightage="20" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>, which went public in 2021. Swiggy recently launched <keyword id="23440051" type="General" weightage="20" keywordseo="XL-Fleet" source="keywords">XL Fleet</keyword> for large-scale <keyword id="20299302" type="General" weightage="20" keywordseo="food-delivery" source="keywords">food delivery</keyword> and Bolt, which is an <keyword id="23461052" type="General" weightage="20" keywordseo="AI-powered-logistics" source="keywords">AI-powered logistics</keyword> system. Per some media reports, the company is also launching an invite-only concierge membership program called the "Rare Club", which will have an annual fee of up to Rs 50,000. <h2>Who doesn't love a little pettiness? </h2>But that's not it. In the time being, Swiggy is also aggressively looking for ways to gain maximum public attention, one of which is by sponsoring the fourth season of the popular entrepreneurial reality show <keyword id="11924074" type="General" weightage="20" keywordseo="shark-tank-india" source="Orion">Shark Tank India</keyword>. But here's the catch-a key condition of this deal is to not bring back Zomato CEO <keyword id="19901325" type="General" weightage="20" keywordseo="deepinder-goyal" source="keywords">Deepinder Goyal</keyword> as a shark. Media reports suggest that Swiggy is set to close on a massive Rs 40-60 crore sponsorship deal with the show. But in a seemingly low-ball move, Swiggy has blocked the return of Zomato CEO Deepinder Goyal as one of the investors on the show. Goyal had made his debut on the third season of the show, and was looking to make a comeback alongside long-time regulars such as Anupam Mittal, Aman Gupta, Namita Thapar and Peyush Bansal. <h2>Bolting ahead with XL</h2>In a move that clearly underlines its ambitious expansion plans, Swiggy also recently announced the launch of its new XL Fleet service, which will look to cater exclusively to bulk orders and large-scale food deliveries. Per Swiggy's co-founder Nandan Reddy, XL is a natural evolution of Swiggy's services. As it is, a recent report by Bain and Company highlighted that India's food services market is set to double to a massive Rs 9 trillion by 2030, surging up significantly from its current standing of Rs 5.5 trillion. Not just that, the customer base is also set to expand from 320-340 million as of 2023 to 430-450 million by the end of the decade. Earlier this year, Zomato had also stepped in this segment by launching its large-order electric fleet, which could serve orders for a gathering of up to 50 people. Alongside this, Swiggy has unveiled Bolt, which is an AI-powered logistics system specifically designed to optimize delivery routes, predict demand patterns, and improve overall operational efficiency. The aim is to bring down on delivery time and costs, giving Swiggy a massive competitive edge in the growing food and quick delivery market. With this feature, Swiggy claims that users can get certain meals such as burgers, <h2>Challenges Await </h2>As of FY24, Swiggy's operating revenue stood at ₹112.5 billion, a 36% jump from the previous year. The company also managed to reduce its net losses by as much as 44% to ₹23.5 billion. While these may come across as positive signs, which are also pushing the company's unlisted shares to new heights, Swiggy significantly lags behind Zomato in both food delivery and quick commerce segment. Consider this. Per Morgan Stanely, as of FY24, Swiggy's GOV (gross order value) at Rs 24,700 crore, was far lower than Zomato's Rs 32,200 crore. Swiggy's GOV and AOV grew at a CAGR of 15.5% and 2.5% respectively, between FY22-24. In contrast, Zomato's GOV and AOV registered a CAGR of 23% and 3.7%, respectively. At 12.7 million, Swiggy's MTU (monthly transacting users) for FY24 were also a far cry behind Zomato's 18.4 million. Even when it comes to average order value (AOV), Swiggy's Instamart lags behind Zomato's Blinkit. This is also why analysts believe that despite Swiggy narrowing the gap on most key metrics like AOV, GOV and more, the company's share will command a lower valuation than that of its rival Zomato.

You Searched For "Anupam Rasayan share sale" and got 11 results

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