The <keyword id="13391374" type="General" weightage="100" keywordseo="data-centre-industry" source="Orion">data centre industry</keyword> in India is on the cusp of a transformation driven by advancements in Artificial Intelligence (<keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>) and the rollout of <keyword id="22959484" type="General" weightage="20" keywordseo="5G-technologies" source="keywords">5G technologies</keyword>, according to a report by <keyword id="20118460" type="General" weightage="20" keywordseo="Avendus" source="keywords" meta.keywordsubtype="org" meta.entityname="Avendus" meta.hostid="261" meta.entityid="Avendus">Avendus</keyword>, a leading financial service provider firm. This shift is being fuelled by a surge in demand for <keyword id="21376472" type="General" weightage="20" keywordseo="high-performance-computing" source="keywords">high-performance computing</keyword> infrastructure, including the deployment of high-end GPU servers and AI-centric cloud solutions. The Indian data centre sector is experiencing unprecedented growth driven by AI-led demand. Currently, India hosts approximately 1,300 AI companies, with AI expected to significantly increase the need for high-density server racks, ranging from 5 to 50 kW. The demand for <keyword id="19985068" type="General" weightage="20" keywordseo="data-centres" source="keywords">data centres</keyword> is accelerating because of companies adopting cloud services, higher uses of AI services, requirements for data localization, roll out of 5G and increased bandwidth services, an explosion in data creation and consumption, and business continuity and backup plans of enterprises. This increase in <keyword id="22959485" type="General" weightage="20" keywordseo="server-density" source="keywords">server density</keyword> will also drive higher cooling requirements. The generative AI market in India is projected to grow at a compound annual growth rate (CAGR) of 28 per cent from 2023 to 2030, translating into strong demand for data centres. Over the next four years, the anticipated demand for AI-enabled data centres in India is estimated at around 500 megawatts (MW). This surge is attributed to the rapid expansion of digital services and the growing need for low-latency data usage across various sectors. India's current installed data centre capacity stands at a mere 1,011 MW, with approximately 94 per cent located in seven major cities. Mumbai and Chennai are leading the charge, thanks to their well-established infrastructure networks. Mumbai, accounts for 48 per cent of the total data centre capacity in India, benefiting from its submarine landing stations, reliable power, and dense fibre infrastructure. The city is expected to see over 35 per cent of the total additional capacity in the next five years. Chennai is also witnessing substantial demand due to its similar infrastructure advantages and the recent landing of the MIST cable, which is likely to attract additional demand from the Asia-Pacific (APAC) region. Delhi and Kolkata are key players in North and East India, respectively, with Delhi projected to contribute around 15 per cent of the incremental capacity. The <keyword id="22959486" type="General" weightage="20" keywordseo="Avendus-report" source="Orion">Avendus report</keyword> says the Indian data centre industry is maturing with increased long-term stable capital inflows, driven by digitisation and data localisation trends. Developers have a pipeline of over 3 gigawatts (GW) set to be delivered over the next decade. This requires an estimated capital expenditure of approximately USD 25 billion, a great opportunity for investors.

India's data centre industry a USD 25 billion market opportunity over the next decade: Avendus Report

<ul><li>RENÉE Cosmetics will use the funding to enhance its Indian and international growth. </li><li>The funding takes the company’s valuation to $100 million, just after two years of beginning operations. </li><li>The online beauty and personal care segment in India is expected to reach $4.4 billion by FY25. </li></ul>Indian direct-to-consumer beauty brand RENÉE Cosmetics raised $25 million in Series B funding, in a round led by <keyword id="5150794" type="General" weightage="80" keywordseo="evolvence-india" source="Orion">Evolvence India</keyword>, with <keyword id="111885" type="General" weightage="80" keywordseo="edelweiss-group" source="Orion">Edelweiss Group</keyword> and existing investors Equanimity and 9Unicorns. The deal was facilitated with the support of Spark Financial Holdings. This takes the company’s valuation to $100 million, two years after beginning operations. This is inclusive of a total of $35 million across three rounds of funding. “It is less about creating a brand that is simple to use, that is just the table stake, but more about redefining beauty in a way that consumers are open to embracing it. With this round, our priority is to extend our product portfolio to give our consumers the comfort to be at ease with being themselves,” <keyword id="3606380" type="General" weightage="50" keywordseo="ashutosh-valani" source="Orion">Ashutosh Valani</keyword>, co-founder and director at RENÉE. The startup will use the series B funding to enhance RENEE’s Indian and international growth by allowing the company to develop more products, marketing initiatives and grow its team. The growth of RENEE is parallel to the growth of beauty and personal care D2C companies, especially post-pandemic with customers going back to their offices. The online beauty and personal care segment in India is expected to reach $4.4 billion by FY25, as per report by <a href="https://retail.economictimes.indiatimes.com/blog/in-indias-d2c-segment-beauty-is-a-beast/94981292">Avendus Capital</a>. Good Glamm Group’s online cosmetic retail brand <keyword id="3030142" type="General" weightage="50" keywordseo="myglamm" source="Orion">MyGlamm</keyword> witnessed sales across segments go up by seven times in this year alone. Ecommerce player <keyword id="319719" type="General" weightage="50" keywordseo="myntra" source="Orion">Myntra</keyword> reported a boost in luxury personal care and beauty <a href="https://www.businessinsider.in/business/news/pyjamas-out-power-suits-in-apparel-and-cosmetic-sellers-gain-as-indians-go-back-to-office/articleshow/93804412.cms">products</a>. "We are thrilled to partner with RENÉE Cosmetics. Their products have path-breaking packaging-form innovation that delivers convenience and quality,” <keyword id="237721" type="General" weightage="50" keywordseo="ashish-agarwal" source="Orion">Ashish Agarwal</keyword>, managing partner at Edelweiss Group said. RENÉE Cosmetics has over 200 products in its beauty and perfume divisions portfolio. The brand also has an online beta presence in the US, UAE, and Australia. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/accacia-real-estate-company-raises-2-5-million-in-seed-round/articleshow/96022246.cms">Real estate decarbonisation startup Accacia raises $2.5 million in seed round</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-falls-24-paise-to-82-09/-amid-rising-crude-foreign-fund-outflows/articleshow/96019202.cms">Rupee falls 24 paise to 82.09/$ amid rising crude, foreign fund outflows</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-science-behind-selling-a-dress-to-an-indian-woman-according-to-the-ceo-of-latin-quarters/articleshow/96003617.cms">The science behind selling a dress to an Indian woman, according to the CEO of Latin Quarters</a>

Indian beauty brand RENÉE Cosmetics raises $25 million in Series B funding led by Evolvence India, Edelweiss Group

<img class="gwt-Image" src="/photo/57162976.cms" /> <a href="http://businessinsider.in/searchresult.cms?query=Google&amp;sortorder=effectivedate">Google</a> is now looking forward to directly invest in or acquire companies in India that cater to whom it refers to as the next billion <a href="http://businessinsider.in/searchresult.cms?query=internet+users.&amp;sortorder=effectivedate">internet users.</a> 
 
According to people aware with the developments, the largest internet company is already in talks with startups and venture capital investors in the country in what could lead to its first <a href="http://businessinsider.in/searchresult.cms?query=acquisition&amp;sortorder=effectivedate">acquisition</a> of an Indian company. 
 
"Two major areas of focus for them are products for the next billion users and acqui-hires in high-tech areas," one of the person aware of developments told ET. 
 Reportedly, as an investor, <keyword id="6355629" type="CITY" weightage="100" keywordseo="Google">Google</keyword> is unlikely to invest in consumer-internet companies such as online retailers. 
 The company has also hired <keyword id="886040" type="PERSON" weightage="20" keywordseo="Seema-Rao">Seema Rao</keyword>, who was a vice-president at investment bank <keyword id="6429146" type="CITY" weightage="20" keywordseo="Avendus-Capital">Avendus Capital</keyword>, to lead corporate development, or acquisitions and strategic investments, in India and <keyword id="53564" type="UNKNOWN" weightage="20" keywordseo="Southeast-Asia">Southeast Asia</keyword>. 
 
The people mentioned above also said that as for the potential acqui-hires, which refers to buying a company for its employees, Google is expected to focus on companies working in areas such as cloud computing and cybersecurity. 
 
Google, one of the world's most-ac quisitive technology companies, has not bought a single startup in India yet.

Google is planning to invest and acquire Indian startups, VC firms. Here’s the plan

<ul><li>FMCG major <keyword id="62997" type="General" weightage="20" keywordseo="Dabur" source="Orion">Dabur</keyword> India announced the acquisition of a 51% stake in <keyword id="7603559" type="General" weightage="20" keywordseo="Badshah-masala" source="Orion">Badshah Masala</keyword> for ₹588 crore. </li><li>With this, FMCG and PE bets on the ‘regional’ Indian spice makers has crossed half a billion dollars. </li><li>According to a report by Avendus, the branded spices category presents a ₹50,000 crore opportunity by 2025. </li></ul>Dabur India’s <a href="https://www.businessinsider.in/business/news/dabur-acquires-majority-stake-in-badshah-masala-for-587-5-crore/articleshow/95100499.cms">acquisition</a> of a 51% stake in <keyword id="3185" type="General" weightage="20" keywordseo="Badshah" source="Orion">Badshah</keyword> Masala for ₹588 crore fits into the FMCG major’s strategy to expand its food business to ₹500 crore in three years. According to a report by IDBI Capital, this acquisition will also strengthen Dabur India’s portfolio in the large market of blended-branded spices. This market, the research report says, is worth ₹12,500 crore, or about $1.5 billion. And it’s not just Dabur India that’s snapping up top regional spice-makers – FMCG majors and private equity funds are also betting on this market. Kerala-based Eastern Condiments was acquired by Norwegian food major Orkla for ₹2,000 crore and was later merged with Southern food company, MTR. ITC too acquired Kolkata-based spice maker Sunrise for ₹2,150 crore. The branded spice industry’s potential has private equity players interested as well – A91 Partners picked up a 25% stake in Pushp Spices for ₹126 crore and InvestCorp acquired a minority stake in Intergrow’s Kitchen Treasures brand for ₹80 crore. Overall, these recent deals add up to ₹4,944 crore, or a little over $600 million. <cmsannotation type="cmsannotation" annotationid="Branded spices – a ₹50,000 crore opportunity" comment="subhead" text="Branded spices – a ₹50,000 crore opportunity">Branded spices – a ₹50,000 crore opportunity</cmsannotation> Spices are at the centre of almost every Indian meal, regardless of the region. This presents a ₹50,000 crore opportunity by 2025 for branded spice makers, up from ₹24,000 crore, according to a 2021 report by financial services firm Avendus. The report notes that while straight spices have gross margins of 33-35%, blended spices offer even better margins at over 45-50%. The report underlines multiple factors which make spices one of the most attractive categories in the packaged food segment. Thanks to its extensive use in Indian meals, spice is a large category that can be addressed by multiple brands catering to the very wide taste palate of Indians. “Having fresh ‘home cooked food’ has always been the way of life for Indian households. With increasing health awareness, consumers are realising the importance of fresh cooking at home rather than having unhealthy food outside,” said the Avendus report, underlining the large market available for spices. The gradual shift from unorganised to branded spices, and the increasing adoption of blended spices makes this a high-growth category. The organised sector is expected to account for half of the total business by 2025, up from 36% in 2020, according to Avendus. <cmsannotation type="cmsannotation" annotationid="Customers are ready to pay a premium for easier cooking" comment="subhead" text="Customers are ready to pay a premium for easier cooking">Customers are ready to pay a premium for easier cooking</cmsannotation> Apart from a gradual shift from unorganised to organised, the report adds there has also been a noticeable shift from traditional home-ground masalas to branded spice mixes like <keyword id="25523" type="General" weightage="20" keywordseo="garam-masala" source="Orion">garam masala</keyword>, <keyword id="3671868" type="General" weightage="20" keywordseo="pav-bhaji-masala" source="Orion">pav bhaji masala</keyword>, and <keyword id="6616925" type="General" weightage="20" keywordseo="sambhar-masala" source="Orion">sambhar masala</keyword>, to name a few. According to the report, blended spices are growing at a CAGR (compounded annual growth rate) of 25%, while straight spices are growing at a CAGR of 12%. Multiple factors like region-specific blends, brand stickiness, convenience and the availability of various options across cuisines have contributed to higher growth of blended spices. The report notes that customers are ready to pay a premium if it makes their cooking faster and easier. “Global MNCs have a significant share in a few packaged F&amp;B categories, whereas spices comprise only of local Indian players due to its regional/local nature. The spices market is a challenging category for MNCs to expand organically,” the Avendus report added. The local/regional nature of spices has also meant that MNCs – which have a significant share in other packaged food categories like noodles, savoury snacks, ready meals and juices – have not been able to crack the spices category. According to the report, this category is dominated by local players like Everest, MDH, Sakthi, Aachi, and Eastern with a combined share of 43%, while MNCs have no presence. These companies, except Aachi, also figure amongst the top 20 food companies, the report added. “Even national players have to modify their blended spices recipe to suit the tastes of different regions,” the report adds. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-shrugs-off-weak-global-cues-to-hit-60000/articleshow/95135992.cms">Sensex shrugs off weak global cues to hit 60,000</a> <a href="https://www.businessinsider.in/tech/news/musk-is-now-twitter-boss-fires-indian-origin-ceo-agrawal-other-top-execs/articleshow/95134427.cms">Musk is now Twitter boss, fires Indian-origin CEO Agrawal, other top execs</a> <a href="https://www.businessinsider.in/business/news/walmart-netflix-partner-to-expand-hub-experience-to-more-viewers/articleshow/95136485.cms">Walmart, Netflix partner to expand Hub experience to more viewers</a>

The growth story behind half a billion dollar bets on 'regional' Indian spice makers

<ul><li>The FMCG brand has a strong presence in North and Eastern Indian markets with a wide range of ethnic snacks and namkeens.</li><li>The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders.</li><li>The price band of the IPO is set at ₹285-300 a share.</li><li>In FY22, Bikaji Foods’ profit came down by 15.5% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation.</li><li>The grey market premium (GMP) of the company’s shares are at ₹75 per share.</li></ul>FMCG company Bikaji Foods International, is all set to open its ₹881 crore initial public offering (IPO) on November 3 and close on November 7. The price band of the IPO is set at ₹285-300 a share. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortments), frozen food, mathri range and cookies. The FMCG brand has a strong presence in North and Eastern Indian markets with a wide range of ethnic snacks and namkeens. It is the market leader in the branded Bikaneri bhujia market. Lately, players such as Prataap Snacks, DFM foods, Pepsi and ITC have forayed into ethnic namkeen and snacks market. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. The grey market premium (GMP) of the company’s shares are at ₹75 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The promoters will be selling around 2% of their stake taking their post-IPO shareholding to 76%. Other shareholders who are selling include -- India 2020 Maharaja (12 million shares), IIFL Special Opportunities Fund (11 million shares), Avendus Future Leaders Fund I (1.2 million shares) and Intensive Softshare (0.1 million shares). Some key competitors of the FMCG brand include Haldiram Foods International, Bikanerwala, Prataap Snacks, Balaji Wafers Private, ITC, Pepsico India Holdings and DFM Foods. Bikaji Foods International is the third largest player in the Indian branded snack industry with 9% market share after Haldiram and Balaji. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><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;">Indian ethnic snacks segment </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;">Market share </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;">Haldiram </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;">38.5% </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;">Balaji </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;">9.6% </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;">Bikaji </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% </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;">Bikanervala </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;">6% </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;">PepsiCo </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;">3% </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;">Haldiram (Prabhuji) </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;">1.8% </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;">Prataap Snacks </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;">1.5% </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;">DFM Foods </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;">0.9% </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;">Others </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;">29% </td></tr></tbody></table>The company has 25 legal proceedings against it and any adverse decision in such proceedings may have a material adverse effect on business, financial condition, cash flows and results of operations, states RHP. In FY22, Bikaji Foods’ profit came down by 15.5% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation. Meanwhile its revenue rose to ₹1,610 crore in FY22 from ₹1,310 crore from the previous year. Its profits are also being impacted by a number of factors, including product pricing, raw materials, labour, packaging and fuel costs. Unplanned investment in infrastructure, marketing activities could impact its profit and operating margin, the company said. Bikaji Foods has seven manufacturing facilities in Rajasthan, Assam, Karnataka and Bihar. yThe company exports products to 35 countries in North America, Europe, Middle East, Africa, and Asia Pacific. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><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;">Bikaji Foods </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 </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 </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 </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;">₹1,610 crore </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;">₹76 crore </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 </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;">₹1,310 crore </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;">₹90 crore </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 </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;">₹1,074 crore </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;">₹56 crore </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;">FY19 </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;">₹901 crore </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;"> ₹50 crore </td></tr></tbody></table>The company’s established market is in Rajasthan, Assam and Bihar with market share of approximately 45%, 58% and 29% respectively in the branded ethnic snack category in such states. It has also gradually expanded its footprint across India, with operations across 23 states and four union territories. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/markets-snap-4-session-winning-streak-ahead-of-fed-outcome-fmcg-retail-and-telecom-decline/articleshow/95258829.cms">Markets snap 4-session winning streak ahead of Fed outcome – FMCG, retail and telecom decline</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/cyberattacks-hold-potentially-significant-impact-on-countries-credit-ratings-fitch-report/articleshow/95259377.cms">Cyberattacks hold ‘potentially significant impact’ on countries’ credit ratings: Fitch Report</a>

Bikaji Foods’ ₹881 crore IPO opens today

<ul><li>DCX Systems, Global Health, Fusion Micro Finance, and Bikaji Foods International have or will launch their issues this week.</li><li>In 2022, about 22 companies have launched their IPOs raising over ₹44,000 crore compared to 64 IPOs raising over ₹1 lakh crore in 2021.</li><li>After interest rate hikes and other macro concerns like inflation and more, <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">many companies such as </a>Udaan, OYO Rooms and Byjus<a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms"> have either delayed their IPOs </a>or postponed them.</li></ul>At a time when the stock market is on an upswing despite negative cues from global markets, the primary market in India is buzzing too. This week, four companies are launching their initial public offerings (IPOs) to collectively raise over ₹4,600 crore. DCX Systems, a manufacturer of electronic sub-systems and cable harnesses, launched its public issue on October 31. Global Health, operator of Medanta Hospitals; microfinance lender Fusion Micro Finance; and Bikaji Foods International will launch their public issues this week. In 2022, about 22 companies launched their IPOs raising over ₹44,000 crore compared to 64 IPOs raising over ₹1 lakh crore in 2021. Last year also saw many large issues like Paytm, Nykaa and Zomato. After interest rate hikes and other macro concerns like inflation and more, <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">many companies such as </a>Udaan, OYO Rooms and Byjus<a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms"> have either delayed their IPOs </a>or postponed them. In 2022, Indian benchmark indices have gained more than 2%, outperforming global peers. Domestic investors continue to infuse capital despite <a href="https://www.businessinsider.in/stock-market/news/fpis-have-sold-equities-worth-over-13000-crore-since-september-with-flows-reversing-after-the-last-us-fed-rate-hike/articleshow/95121693.cms">outflows by foreign institutional investors (FIIs) and macro concerns</a>. It has now become crucial for startups to achieve profitability before going public as investors have become very cautious about investing in loss-making startups as seen in the cases of Nykaa, Paytm and Zomato. “Last year several new public issues did not do well because of high price valuations by several companies. Investors are becoming choosy now after what happened last year, where people lost huge money to IPOs with exorbitant valuations. Comfortable valuation and business visibility are two things investors are looking at before making a decision to invest in an IPO,” Sanjiv Hota, vice president - head of research at Sharekhan, told Business Insider India. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><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;">IPOs opening this week </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;">Start date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO size </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems </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;">October 31 </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;">November 2 </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;">₹500 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Global Health </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;">November 3 </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;">November 7 </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;"> ₹2,205 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bikaji Foods </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;">November 3 </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;">November 7 </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;">₹881 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Fusion Micro Finance </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;">November 2 </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;">November 4 </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;">₹1,103 crore </td></tr></tbody></table> <keyword id="13552162" type="General" weightage="20" keywordseo="DCX-Systems-IPO" source="Orion">DCX Systems IPO</keyword> to raise ₹500 crore Bengaluru-based DCX Systems’ ₹500-crore IPO, which includes a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of ₹100 crore, was launched on October 31. The price band of the IPO is set at ₹197-207 a share. The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies. It has a manufacturing facility located at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru. The company has 26 customers in Israel, US, Korea and India, including Fortune 500 companies, MNCs and startups. It has clients across sectors ranging from defence and aerospace, to space ventures and railways. The IPO proceeds will be utilised towards debt repayment, funding working capital, investment in its subsidiary and general corporate purposes. <keyword id="15366973" type="General" weightage="20" keywordseo="Fusion-Micro-Finance-IPO" source="Orion">Fusion Micro Finance IPO</keyword> to open on November 2 The New Delhi-based microfinance company that provides financial services to underserved women across India opens its IPO for subscription on November 2 and closes on November 4. The price band of the IPO is set at ₹350-368 a share. The company's business runs on a joint liability group-lending model, wherein a small number of women form a group (typically comprising five to seven members) and guarantee one another's loans. The proceeds from the IPO will be utilised towards augmenting the capital base of the company. The total issue size of the IPO is ₹1,103 crore, which includes fresh issue of ₹600 crore and an offer for sale of 1.36 crore equity by the company's shareholders and promoters. <keyword id="15211795" type="General" weightage="20" keywordseo="Global-Health-IPO" source="Orion">Global Health IPO</keyword> to raise ₹2,205 crore Hospital chain Global Health that operates under the brand ‘Medanta’ will open its IPO for subscription on November 3 and close on November 7. The price band of the IPO is set at ₹319-336 a share. Global Health is backed by private equity investors such as Carlyle Group and Temasek. It operates five hospitals under the Medanta brand in Gurugram, Indore, Ranchi, Lucknow and Patna. It has another hospital under construction at Noida. The company has key specialities in cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology. The proceeds from the IPO will be utilised towards repaying debt of its subsidiaries – Global Health Patliputra and Medanta Holdings and for general corporate purposes. The total issue size of the IPO is ₹2,205 crore, which includes fresh issue of ₹500 crore and an offer for sale of up to ₹1,705 crore via sale of 5.08 crore equity shares by the company's shareholders and promoters. Bikaji Foods ₹881 cr-IPO to open on November 3 Bikaji Foods International is a well known fast moving consumer goods (FMCG) brand that claims to be the largest manufacturer of Bikaneri Bhujia, packaged rasgulla, soan papdi and gulab jamun. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks, which primarily includes gift packs (assortment), frozen food, mathri range and cookies. The company sells more than 250 products under the Bikaji brand. The snack maker is backed by marquee investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management and Intensive Softshare. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. The price band of the IPO is set at ₹285-300 a share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaa-stock-climbs-over-5-after-it-reports-5-2-crore-profit-in-q2/articleshow/95229929.cms">Nykaa stock climbs over 5% after it reports ₹5.2 crore profit in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">Amid risks of a slowdown, these IT companies are best placed to survive the storm</a>

Four IPOs to raise over ₹4,600 crore this week

<ul><li>The Series I round included new investors like Siguler Guff, Baillie Gifford and others.</li><li>The company claims to have doubled its valuation since February 2021.</li><li>It claims to have raised a total of $650 million in the first half of 2021.</li></ul><keyword id="2519202" type="PERSON" weightage="20" keywordseo="Verse-Innovation">VerSe Innovation</keyword>, the parent company of content aggregator unicorn <keyword id="2995316" type="PERSON" weightage="20" keywordseo="dailyhunt">Dailyhunt</keyword> and short video app <keyword id="6393600" type="PERSON" weightage="20" keywordseo="Josh">Josh</keyword>, has raised $450 million from both new and existing investors. The Series I round included new investors like Siguler Guff, Baillie Gifford, affiliates of Carlyle Asia Partners Growth II and others. Besides this, existing investors Sofina Group, Qatar Investment Authority and BCap also participated in the round. Avendus Capital was the exclusive financial advisor to VerSe Innovation on the transaction. The company claims to have doubled its valuation compared to February 2021. Prior to this, the company had <a href="https://www.businessinsider.in/business/startups/news/dailyhunt-josh-raises-100-million-from-qatar-investment-authority-just-two-months-after-google-and-microsoft-made-it-a-unicorn/articleshow/80744070.cms">raised </a>$200 million, between December 2020 and February 2021, from Alpha Wave Ventures, Glade Brook Capital Partners, <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>, Microsoft and QIA. With this latest funding round, VerSe innovation has now raised about $650 million in the first half of 2021. The company says that it will use this funding to further develop its AI/machine learning (ML) and data science capabilities to strengthen its position across all user retention and engagement metrics. In addition, it will be looking to further incorporate monetisation tools like e-commerce and live streaming to support the 50 million local content creators. The company claims to have over 80 billion video plays per month. VerSe Innovation claims that content aggregator Dailyhunt has over 300 million monthly active users (MAU), who watch content in 14 languages from a licenced creator ecosystem of over 100,000 content partners and individual content creators. Short video platform Josh, which was launched in 2020 post the TikTok ban, has over 115 million MAUs and 56 million daily active users. It competes with other platforms like Moj, MX TakaTak and other new players in the segment that came into existence post the Chinese app ban of June 2020. SEE ALSO <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato</a> <a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms"></a><a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a> <a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms"></a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-may-dominate-the-foldable-smartphone-market-with-88-share-says-report/articleshow/85091203.cms">Samsung may dominate the foldable smartphone market with 88% share, says report</a>

Dailyhunt, Josh parent VerSe Innovation raises over $450 million, doubles valuation

<keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> on Monday said global investment firm <keyword id="6354544" type="COMPANY" weightage="20" keywordseo="kkr">KKR</keyword> will invest <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> 95 million (about Rs 695.8 crore) in the omni-channel eyewear retailer via a secondary stake acquisition. As part of the transaction, existing <keyword id="6359051" type="UNKNOWN" weightage="20" keywordseo="investors">investors</keyword> - TPG Growth and TR Capital - will each divest a portion of their holding in Lenskart, a statement said. These entities had invested in Lenskart in late 2014. Upon the completion of the transaction, KKR will look to leverage its experience working with leading technology and eyewear companies globally to support Lenskart in expanding its presence in India, scaling its growing operations overseas, and enhancing its digital offerings to augment customers' virtual and omni-store experience, the statement said. According to reports, KKR's investment is part of a larger USD 300-million round. However, the companies did not comment on the report and if other investors have participated in the round. KKR said it is making its investment from its Asian private equity fund. Some of the recent technology-focused investments for KKR in Asia include Adopt A Cow (a digitalised, direct-to-consumer dairy company in China), NetStars (the operator of Japan's largest QR code payment gateway), and Walnut Programming (a children's programming education company in China). In 2019, Lenskart had announced raising over USD 275 million (nearly ₹1,956 crore) from Softbank Vision Fund. In the past, it has received funding from investors' like Ratan Tata, PremjiInvest, <keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword> (venture capital arm of the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword>), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq. Established in 2010, Lenskart currently serves over 7 million customers annually through its omni-channel presence that spans online, mobile application, and 730 stores in 175 cities across the country. In 2019, Lenskart had also expanded to Singapore, marking its foray into Southeast Asia. Lenskart integrates technology into all aspects of its operations, to the browsing, shopping and purchasing experience, in addition to manufacturing and supply-chain optimisation. Among Lenskart's digital offerings is a virtual 3D try-on tool; AI-powered facial mapping and frame recommendation features; smart physical stores with seamless omni-channel experience; and footfall tracking beacons, heat maps and demographic analytics; and intelligent supply-chain and inventory-management solutions. More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use it due to a lack of access, awareness, and high-quality, affordable solutions, Lenskart CEO Peyush Bansal said. Lenskart was founded to address this gap by leveraging technology to make eyewear accessible to everyone - first in India, and now worldwide, he added. "In the next five years, we aspire to have 50 per cent of India wearing our specs... We are thrilled to welcome KKR as an investor given their significant experience working with leading global eyewear retailers such as National Vision and 1-800 Contacts as well as technology-focused businesses globally," he said. KKR Partner Gaurav Trehan said as a technology-driven business, Lenskart is a strong, homegrown disruptor in India's rapidly expanding eyewear industry. "We are truly excited to work with Peyush and Lenskart's impressive management team to support Lenskart's growth and innovation in India and internationally, in addition to advancing its mission to provide affordable, accessible eyewear products for everyone," he added. Avendus Capital advised Lenskart on the transaction. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Lenskart gets funding of $95 million from global investment firm KKR

<ul><li>The IPO will remain open for subscribers until October 1. </li><li>The 17-year old company is backed by some marquee shareholders such as— SBI, LIC, Punjab National Bank, Bank of Baroda, and the US-based T Rowe Price. </li><li>Here's what brokerage firms have to say about <keyword id="7036233" type="UNKNOWN" weightage="20" keywordseo="UTI-AMC-IPO">UTI AMC IPO</keyword>.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>The Mutual Fund manager, UTI Asset Management Company, is set to float its ₹2,160 crore IPO in the market today (September 29). And, the grey market is already pegging a premium of ₹55-60 over the issue price of ₹552-554 per equity share. UTI AMC garnered ₹644.64 crore from several anchor investors including Morgan Stanley, Invesco Trustee, Avendus, Tara Emerging Asia Liquid Fund, Goldman Sachs, Nomura Singapore, HSBC, Kotak Funds among others to name a few. The IPO will remain open for subscribers until October 1. The shares of the UTI AMC will list on both the stock exchanges, BSE and NSE. The 17-year old company is backed by some marquee shareholders such as— SBI, LIC, Punjab National Bank, Bank of Baroda, and the US-based T Rowe Price. The company is the second-largest Asset Management Company in India in terms of total assets under management and the eighth largest asset management company in India in terms of mutual funds as of June 30. It manages 153 domestic mutual fund schemes comprising equity, hybrid, income, liquid and money market funds. The initial public offering aims to achieve the benefits of listing the equity shares on stock exchanges. It is worthy to note that the selling shareholders will get a part of the proceeds, and UTI will not. <div type="image" title="UTI AMC" msid="78376824" hostid="261"></div> Here's what brokerage firms have to say about UTI AMC IPO: Sector poised to grow According to HDFC Securities, the Indian mutual fund industry is expected to continue to grow due to supportive industry dynamics and long-term structural drivers, including the increasing financialisation of household savings, market penetration of mutual fund products, and favourable population and urbanisation trends. The UTI Asset Management Company will compete against its likes — Nippon Life India Asset Management and HDFC AMC on the stock exchanges. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><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;">Company </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;">Stock change since March 31 </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;">Nippon Life India Asset Management </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;">6% </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;"> HDFC AMC </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;">8% </td></tr></tbody></table> Widespread customer reach and diverse portfolio The brand is widely recognised across the country for its strength and more than 55 years of heritage as a leading and pioneering, a participant in the mutual fund industry. The company also offers a diverse portfolio of domestic funds, including equity, hybrid, income, liquid and money market funds, as well as portfolio management services, retirement solutions, and offshore and alternative investment funds, which serves as its strength, according to ICICI Direct Research. Client wise distribution of AUM as on June 2020 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><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;">Clients </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;">Live Folios </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;">Closing AUM </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;">% of Domestic Mutual Fund Closing AUM </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;">Individual investors (other than NR Is) </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;">109 lakh </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;">₹ 62910 crore </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;">43.80% </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;">Corporate and other institutional 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;">1 lakh </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;">₹65110 crore </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;">45.40% </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;">Banks and other financial institutions </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;">0 </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;">₹4960 crore </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;">3.50% </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;">Trusts </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;">0 </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;">₹8140 crore </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;">5.70% </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;">NRIs </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 lakh </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;">₹2430 crore </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.70% </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;">Total </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;">111 lakh </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;">₹143550 crore </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;">100% </td></tr></tbody></table>Source: ICICI Direct Report Key concerns highlighted by brokers The IPO pricing At the upper price band of ₹554 per share, the company is being valued at ₹7000 crore and according to Nirmal Bang, the IPO pricing is undemanding given the valuation HDFC AMC and Nippon AMC are currently commanding. “From a more near-to-medium term perspective, we currently have a cautious view on the overall AMC sector. Even though we are positive on the industry prospects from a long-term perspective, we take cognizance of some of the near-to-medium term headwinds,” the Nirmal Bang report said. The growing uncertainty in the market Investment performance is one of the important factors for retaining existing customers and attracting new ones and, therefore, for maintaining and growing the company's AUM. The performance of UTI funds depends not only on its investment strategies but also on a number of factors including market, economic and other conditions. Poor investment performance could have a negative effect on business and growth as it could lead to loss of clients, ability to attract funds and negative investment performance will directly impact income from management fees, ICICI Direct report said. A huge reliance on big clients As of June 30, 2020, UTI AMCs top six active equity funds constituted 75.3% of total Quarterly Average Assets Under Management (QAAUM) of active equity funds while top five passive equity funds constituted 98.7% of total QAAUM of passive equity funds. UTI AMC has only four liquid and money market funds. And, according to brokerages, underperformance by any of these funds may have a disproportionate adverse impact on AUM and thereby income. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indian-naval-ship-maker-mazagon-docks-444-crore-ipo-opens-tomorrow/articleshow/78360565.cms" data-type="tilCustomLink">Indian Naval Ship maker Mazagon Dock’s ₹444 crore IPO opens today— Here’s what works for it and what doesn’t</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-the-share-allotment-status-of-angel-broking-ipo/articleshow/78357386.cms" data-type="tilCustomLink">Angel Broking IPO allotment: Here’s how to check share allotment status</a>

UTI AMC’s ₹2,160 crore IPO opens today — Here’s all you need to know

<ul><li>Top business schools in India have backed the most attractive job offers from consulting firms. </li><li>Accenture and Boston Consulting Group emerged as the top recruiters. </li><li>E-commerce saw a dip in placements from last year — with Amazon rolling out 12 offers.</li></ul>Wrapping up the recent campus placement season, India’s premium business schools say they have attracted the most promising <a href="https://wap.business-standard.com/article-amp/jobs/accenture-bcg-emerge-as-leading-recruiters-at-b-schools-across-india-119021700575_1.html">job packages</a> from consulting firms. Consulting firms Accenture and Boston Consulting Group (BCG) topped the charts, rolling out the most number of offers, according to media reports. Accenture topped the placements at the Indian Institute of Management, extending over 80 offers to those graduating in 2019. While IIM Bangalore attracted the most offers (31) from Accenture. While Boston Consulting Group emerged as the leading recruiter at XLRI, which also scored 27% of job offers in the from sales &amp; marketing domain. For many fresh graduates, consulting firms offered roles across profiles such as data science, analytics and project management among others. India’s top B-school campuses — including Indian Institute of Management (IIM) Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Kozhikode and Xavier’s School of Management (XLRI) — made up about 80% of hiring across all management schools. IIM Bangalore reportedly scored several offers including overseas placements, with over 30% of those in the consulting sector. However, e-commerce saw a dip in placements from last year, according to <a href="http://campusutra.com/ContentEvent.aspx?id=2674&amp;name=BCG,-Accenture-Strategy-And-Goldman-Sachs-Emerge-As-Top-Recruiters-at-IIM-Bangalore---">report</a>. However, this year e-commerce hiring was led by Amazon, which rolled out at least 12 offers across campuses. Business schools in India have also reported higher salary packages this placement season — with many recruiters extending offers above ₹2 million as the highest package. Apart from Accenture and BCG, other consulting majors including McKinsey &amp; Co, Deloitte and Avendus extending offers for job placements across the country. According to a senior official at TeamLease Services, the upsurge in the recruitments from consulting firms may be because of the transition in industries across verticals. During the current placements, campus hirings have attracted pay packages in double digits, with most of the growth in digital area and value creation, according to the report. See also: <a href="https://www.businessinsider.in/campus-placements-at-iim-mdi-tiss-iift-see-salary-packages-above-2-million/articleshow/67898696.cms">India’s B-schools are seeing higher salary packages for graduates — and it’s not just IIMs</a> <a href="https://www.businessinsider.in/wipro-campus-placements-to-double/articleshow/67719782.cms">Indian IT major Wipro is on a hiring spree, plans to double campus offers and hike pay</a>

Consulting firms Accenture, BCG dominate campus placements at India’s B-schools this year

<ul><li>Indian Institute of Management (IIM) Ahmedabad, <keyword id="8754640" type="COMPANY" weightage="20" keywordseo="xaviers-school-of-management">Xaviers School of Management</keyword> (XLRI) and <keyword id="481185" type="COMPANY" weightage="20" keywordseo="Management-Development-Institute">Management Development Institute</keyword> (MDI) — say they have attracted the most promising job packages from consulting firms. </li><li>Consulting majors McKinsey &amp; Company, <keyword id="136162" type="COMPANY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword> (BCG) rolled out 50 offers at <keyword id="19483" type="COMPANY" weightage="20" keywordseo="IIM-ahmedabad">IIM Ahmedabad</keyword>. </li><li>XLRI also attracted the highest number of offers from the consulting domain (26%). Global multinationals KPMG and PwC topped the charts. </li><li>More than half (57%) of the offers at MDI came from companies in the consulting, BFSI, technology and telecom sectors and the average compensation too increased by 9.5% at ₹ 2.2 million.</li></ul>India’s top business schools — Indian Institute of Management (IIM) Ahmedabad, Xaviers School of Management (XLRI) and Management Development Institute (MDI) — say they their students received the most promising job offers from consulting firms. Consulting majors McKinsey &amp; Company, <keyword id="169297" type="COMPANY" weightage="20" keywordseo="Boston-Consulting">Boston Consulting</keyword> Group (BCG) rolled out as many as <a href="https://economictimes.indiatimes.com/jobs/iima-concludes-cluster-1-placement-mckinsey-bcg-top-recruiters/articleshow/74024154.cms">50 offers at IIM Ahmedabad</a>. This includes the pre-placement offers as well. Other recruiters included Accenture Strategy, Bain &amp; Co., Credit Suisse, Goldman Sachs and Deloitte. This is as per the Cluster1 placements at the IIM-A campus — which was concluded in four cohorts — investment banking and markets, management consulting, advisory consulting and private equity, venture capital and asset management. “Consulting firms continued to hire in large numbers in the first cluster, offering management consulting roles across geographies including Malaysia and Middle East,” the institute said. It’s not just the IIMs This has become a common trend across B-schools. XLRI also attracted the highest number of offers from the consulting domain at 26%, this year. Global multinationals KPMG and PwC were the top most recruiters, rolling out the highest number of offers. This simply mirrored last year’s trend wherein Boston Consulting Group was the leading recruiter. On the other hand, more than half (57%) of the offers at MDI came from companies in the consulting, BFSI, technology and telecom sectors. The average compensation at the institute too increased by 9.5% at ₹ 2.2 million. This includes 63 offers from PwC, Deloitte, ICICI Bank, IDFC Bank and Airtel. Last year too, IIM Bangalore reportedly scored over 30% placements in the consulting sector — including overseas job offers. Investment banking follows Banking, Insurance and Financial Services(BFSI ) is the second biggest chunk of recruiters. At IIM-A, Avendus and JP Morgan Chase &amp; Co offered 18 job letters. At XLRI too BFSI which recruited 17%, also turned out to be the highest paymaster. It offered domestic salaries as high as ₹5 million. “The increase in BFSI hiring can be attributed to a higher number of candidates opting for the finance specialization and a vibrant appreciation for finance in the form of finance associations and an in-house XLRI Student Investment fund,” XLRI said. Overall, this placement season has been a fruitful one so far. Several management institutions — including IIM Lucknow, IIM Kozhikode, MDI, XLRI — clocked in 100% placements in the first week. See also: <a href="https://www.businessinsider.in/careers/news/xlri-students-bag-domestic-and-international-job-offers-with-salaries-over-50-lakhs/articleshow/73974506.cms">XLRI students bag domestic and international job offers with salaries over ₹50 lakh</a> <a href="https://www.businessinsider.in/careers/news/iim-lucknow-iim-kozhikode-mdi-gurgaon-secure-100-placements-offering-2-5-million-as-the-starting-pay/articleshow/73722200.cms">Indian B-schools are beating the slowdown with average salary offers at ₹2.5 million</a> <a href="https://www.businessinsider.in/careers/news/amazon-becomes-the-top-recruiter-at-mdi-gurgaon-with-a-40-5-lakh-offer/articleshow/73545137.cms">Amazon becomes the top recruiter at MDI Gurgaon with a ₹40.5 lakh offer</a>

India’s best minds from IIM Ahmedabad, XLRI are heading to consulting firms

<img class="gwt-Image" src="/photo/54238731.cms" style="width: 800px; height: 600px;" />With 18 students placed, <keyword id="6751476" type="UNKNOWN" weightage="20" keywordseo="Accenture-Strategy">Accenture Strategy</keyword> emerged as the top recruiter at <keyword id="19483" type="ORGANIZATION" weightage="20" keywordseo="IIM-ahmedabad">IIM Ahmedabad</keyword>, as per the final placement report for PGP programme 2016 released by the institute in accordance with the Indian Placement Reporting Standards. 
 
Top recruiter Accenture Strategy was the top recruiter. Bain &amp; Co extended 16 offers while The <keyword id="169297" type="COMPANY" weightage="20" keywordseo="Boston-Consulting">Boston Consulting</keyword> Group extended 17. 
 
Interesting stats 
- According to the report, 383 students sought employment through the business school out of the total 403 graduating this year. 
 
- More than 110 firms participated in the placement process of which the top offers (108) were made by consulting firms. 
 
- 8 students opted out to start entrepreneurial ventures. They will be undertaking their journey under the guidance of SINE, IIM-A's incubation Cell and will be allowed to sit for placement in the next 2-3 years if their startup fails. 
 
- Approximately 368 offers were based in India, 7 in Europe, Middle East, Africa (EMEA) and 8 in Asia Pacific. 
 
- The number of international offers dropped from 40 last year to 15 this time around. 
 
Sector-wise 
A total of 108 offers were accepted by students in the consulting sector, followed by 70 in BFSI (banking, financial services and insurance), 53 in online services, 26 in IT, 12 in media and communications, and 21 in telecom, 24 in conglomerates and 28 in FMCG. 
 
- Recruiters in the consulting space included global strategy consulting and niche consulting firms like Accenture Strategy, Alvarez &amp; Marsal, AT Kearney, Bain &amp; Company, Deloitte, McKinsey &amp; Company, Oliver Wyman, Roland Berger, and the Boston Consulting group. 
 
- The BFSI sector saw participation from global investment banks like Barclays, Avendus Capital, Citi Bank, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC among others. 
 - In the Consumer Goods and Services sector, <keyword id="6361491" type="CITY" weightage="20" keywordseo="Procter-Gamble">Procter &amp; Gamble</keyword> and Star TV India were the leading recruiters having extended 8 and 11 offers. 
 
- From the e-commerce space, Amazon, Flipkart, Snapdeal, Sprinklr and Uber picked up students. 
 - Students also secured roles in tech sector firms like <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword>, Cognizant, Google, Samsung, Wipro among others. 
 
Function-wise 
Maximum number of students (111) accepted consulting roles, followed by marketing/sales (74), finance (68), general management (60) and Business Development (12) among others. 
 
- Sales and marketing roles were taken up in companies like Asian Paints, Hindustan Unilever Ltd, ITC, Johnson &amp; Johnson, L’Oreal, nestle, Pepsico, P&amp;G, Reckitt Benckiser, Vodafome among others. 
 
- General Management and leadership profiles were offered to students by Aditya Birla Group, Bharti Airtel, CK Birla Group, Lodha Group, Mahindra and Reliance. 
 
Salary heads - Domestic and International 
According to the report, the minimum fixed yearly cash component (domestic) is Rs 6 lakh while the maximum is Rs 35 lakh. The median fixed yearly cash component (domestic) is Rs 17,00,655. 
 
The maximum earning potential cash component stood at Rs 48 lakh; at the minimum range, Rs 11.5 lakh and for the median and Rs 21 lakh. 
 
For international offers, the minimum fixed yearly cash component stood at $34,248, while the maximum stood at $132,896 and the median, $60,000. 
 
The maximum earning potential cash component (international), according to the report for PGP students, was $35,112 at the minimum and $1,53,568 at the maximum.

Accenture emerges Top recruiter at IIM-A placements this year; 8 students turn down offers to begin startups

<img class="gwt-Image" src="/photo/48436076.cms" /> eCommerce players like online food ordering startup <a href="http://www.businessinsider.in/searchresult.cms?query=Zomato">Zomato</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=TinyOwl+">TinyOwl </a>and <a href="http://www.businessinsider.in/searchresult.cms?query=Swiggy+">Swiggy </a>are in full swing and trying to raise money through various means. Reports suggest that all of these players are in various stages of advanced talks to raise about Rs 1,000 crore ($157 million) for their businesses. 
 According to Economic Times, <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, which began its food delivery service in May, has initiated discussions to raise $80-100 million (Rs 510-640 crore) while <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="Swiggy">Swiggy</keyword> has mandated Avendus Capital for a new round of funding in less than two months after it raised Rs 105 crore. <keyword id="3601251" type="UNKNOWN" weightage="20" keywordseo="TinyOwl">TinyOwl</keyword> is also in talks to raise Rs 190-256 crore after it secured Rs 100 crore in February. 
 
If reports are to be believed, the trend of ordering food online has grown in India in the past one year and domestic restaurant aggregators need huge servings of capital to be able to quickly ramp up daily orders if they are to grow as rapidly as their peers in the US and the UK. 
US-based <a href="http://www.businessinsider.in/searchresult.cms?query=GrubHub">GrubHub</a>, a $2.6 billion company have been handling 234, 700 orders a day while India-based Foodpanda handles approx 30,000 orders daily and the number for TinyOwl remained to 8,000. 
 In an email written to ET, Zomato co-founder and CEO <keyword id="476451" type="UNKNOWN" weightage="20" keywordseo="Deepinder-Goyal">Deepinder Goyal</keyword> mentioned, "We have given a bank a mandate to start the fundraising process for us but we haven't reached out to any investor yet. We will start reaching out to investors sometime in September." In April this year, Zomato raised a total of Rs 301 crore from the existing investors including Info Edge and <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> Capital at a valuation just under Rs 5,000 crore. 
 
"Zomato has been in talks with investors but isn't able to get the valuation or cash it needs to boost the delivery business," informed an official aware of the development. 
 
The official requesting anonymity further added, "Therefore, internal investors agreed to back the company through the beta launch and testing (of the food ordering service) and when the company is at significant traction, they will explore the opportunity to raise about $100 million, valued at $1 billion." 
 
The Bengaluru-based startup, aunched last year, Swiggy is likely to raise Rs 300 crore but as per the sources, the amount is yet to be finalized. Another Mumbai-based TinyOwl is likely to finalize its fundraising discussions with investors later this month. 
 
Swiggy CEO Sriharsha Majety and TinyOwl CEO Harshvardhan Mandad both confirmed their plans to raise money but declined comment any further on the matter.

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