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<keyword id="22905164" type="General" weightage="20" keywordseo="Hero-Motors-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero Motors Ltd" meta.hostid="261" meta.entityid="Hero Motors Ltd">Hero Motors Ltd</keyword>, the auto-components firm of the <keyword id="20312813" type="General" weightage="100" keywordseo="Hero-Motors" source="keywords">Hero Motors</keyword> Company (HMC) Group, today filed preliminary papers with markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> to raise Rs 900 crore through an initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>). The IPO is a combination of a fresh issue of <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> worth Rs 500 crore and an Offer-For-Sale (<keyword id="19951016" type="General" weightage="20" keywordseo="OFS" source="keywords">OFS</keyword>) of shares valued at Rs 400 crore by promoters, according to the draft red herring prospectus (<keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword>). The OFS includes Rs 250 crore worth of shares by O P <keyword id="22905165" type="General" weightage="20" keywordseo="munjal-holdings" source="keywords">Munjal Holdings</keyword>, who hold 71.55% in the company, and Rs 75 crore each by Bhagyoday Investments and Hero Cycles, who hold 6.28% stake and 2.03% shares, respectively. South Asia Growth Invest LLC has 12.27% shareholding in the company. Additionally, the company may consider a pre-IPO placement of Rs 100 crore. If this placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issue of upto Rs 202 crore will be used for debt payment, Rs 124 crore for purchase of equipment required for capacity expansion purposes, particularly for its plant in Noida, UP. Hero Motors is India's leading automotive technology company engaged in designing, developing, manufacturing and supplying high engineered <keyword id="22905163" type="General" weightage="20" keywordseo="powertrain-solutions" source="keywords">powertrain solutions</keyword> provider to automotive OEMs in the United States, Europe, India, and the ASEAN region. The company's product range includes both electric and non-electric powertrains for various vehicle categories including two-wheelers, e-bikes, off-road vehicles, electric and hybrid cars and heavy-duty vehicles. For the uninitiated, powertrains refers to the combined assembly and mechanism that propel your vehicle ahead, and includes the engine, transmission, driveshaft, axle and more. <h2>Steady financials </h2> Hero Motors' revenue from operations stood Rs 1,064.4 crore in the fiscal 2024. ICICI Securities, DAM Capital Advisors, and JM Financial are the book-running lead managers to the issue. However, as per its DRHP (draft red herring prospectus), a significant potion of its business relies just on their top 10 customers. In FY24, the company's revenue earned from its top 10 customers stood at Rs 8,191.86 million, constituting 76.96% of its total revenue from operations. In FY23, the share of top 10 customers to Hero Motor's total revenue from operations stood at around 88.84%. In FY24, Hero Motors derived 58.72% of its total revenue, or about Rs 6,249.85 million from India, while about 29.33%, or Rs 3,121.67 million stemmed from European region, including the United Kingdom. As of FY24, the company's most significant chunk of revenue (around 41.37%) came from two-wheelers, followed by motorsport and performative equipment (27.52%), automotive and aerospace related equipment (21.36%) and e-bikes (9.75%). Another concerning aspect is the company's PAT (profit after tax margin), which shrunk from 10.83% in FY22, to 1.60% in FY24. In terms of human resources, the company had 1,484 permanent employees as of March 31st, 2024, with an attrition rate of 14.42%.

Hero Motors files draft papers for Rs 900-crore IPO, may consider pre-IPO fundraising

<ul><li>Bhavish Aggarwal-led <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> has received approval from SEBI for its <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>.</li><li>The EV maker has received approval for an IPO to raise ₹5,500 crore.</li><li>The company filed the <keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword> with SEBI in December 2023.</li></ul> Indian electric two-wheeler maker Ola Electric has received approval from the Securities Exchange Board of India (SEBI) for its <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The Bengaluru-based EV maker <a href="https://www.businessinsider.in/stock-market/news/ola-electric-aims-to-raise-nearly-rs-5800-cr-via-ipo-to-file-drhp/articleshow/105907892.cms">filed</a> the Draft Red Herring Prospectus (DRHP) in December 2023. The Bhavish Aggarwal-led company is looking to raise ₹5,500 crore through a fresh issue of shares. Additionally, the IPO also includes an offer for sale (OFS) component of 9.52 crore shares. The company has also kept an option to raise ₹1,100 crore via pre-IPO placement. As part of OFS, Aggarwal will offload 4.7 crore equity shares, which is around half of the OFS component. Apart from this, companies such as Indus Trust, Kaha Wave Ventures, MacRitchie Investments, Alpine Opportunity Fund, Matrix Partners India Investments, and others will divest some shares. According to the draft papers, out of the funds raised, ₹1,226.4 crore will be used for capital expenditure and ₹800 crore will be used to repay debt. The company will spend around ₹1,6000 crore on research and development and ₹350 crore on growth initiatives. Ola Electric has emerged as the leading electric two-wheeler maker in the country and has been leading the market for a long time now. The company occupies around half of the market share. The company is in the process of building an EV hub in the Krishnagiri and Dharmapuri districts in Tamil Nadu. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-nearly-3-5-million-subscribers-in-april-2024/articleshow/111129665.cms">Reliance Jio and Airtel add nearly 3.5 million subscribers in April 2024</a> <a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms">As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a>

Ola Electric gets SEBI approval for ₹5,500 crore IPO

<ul><li><keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords">Hyundai Motor India</keyword> has filed its <keyword id="20551889" type="General" weightage="20" keywordseo="draft-papers" source="keywords">draft papers</keyword> with <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords">SEBI</keyword> for its <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>.</li><li>The Korean automaker’s Indian arm is looking to raise around $3 billion, in what will be India’s biggest IPO yet.</li><li>The automaker has roped in Kotak Mahindra, Citibank, Morgan Stanley, JP Morgan and HSBC for its <keyword id="19965382" type="General" weightage="20" keywordseo="stock-market-debut" source="keywords">stock market debut</keyword>.</li></ul>Hyundai Motor India Limited (HMIL), the Indian arm of the South Korean automaker Hyundai, on Saturday, filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) to raise around $3 billion (₹25,000 crore). The automaker has roped in Kotak Mahindra, Citibank, Morgan Stanley, JP Morgan and HSBC for its stock market debut in India. With the upcoming IPO, the company is looking at a valuation between $18 to $20 billion. The company’s competitors such as Maruti Suzuki, Tata Motors, Mahindra and Mahindra are listed companies. Over the past year, Hyundai Motor Group has announced new investment plans in India totalling approximately $3.75 billion. “The objects of the offer are to carry out the Offer for Sale (OFS) of up to 142,194,700 (over 142 million) Equity Shares of the face value of ₹10 each by the Promoter Selling Shareholder and to achieve the benefits of listing the Equity Shares on the Stock Exchanges," according to the DRHP. Further, "our Company expects that listing of the Equity Shares will enhance our visibility and brand image and provide liquidity and a public market for the Equity Shares in India," Hyundai Motor India’s DRHP added. If the listing gets the nod from the regulator, it will be the country’s biggest IPO, beating the state-owned Life Insurance Corporation of India’s (LIC) $2.7 billion listing in 2022. In May, Hyundai Motor India occupied the second spot with 49,151 cars shipped in the domestic market and an export of 14,400 cars. In FY24, Hyundai Motor India was the country’s second-largest carmaker after Maruti Suzuki. The company established its first manufacturing plant in India in 1998, followed by a second plant in 2008. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms">Tata Group reportedly looking to acquire a majority stake in Vivo India</a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-hits-out-at-apples-partnership-with-openai-threatens-to-ban-apple-devices/articleshow/110902477.cms">Elon Musk hits out at Apple’s partnership with OpenAI, threatens to ban Apple devices</a>

Hyundai Motor India files draft papers with SEBI for India’s biggest IPO

Softbank-backed <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword> is set to refile its much-awaited <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> as the global travel tech player is close to finalising its refinancing plans to raise up to USD 450 million via sale of dollar bonds, sources said. JP Morgan is the likely lead banker for the refinancing through the sale of dollar bonds at an estimated interest rate of 9 to 10 per cent per annum, a source said. In preparation for the refinancing, OYO has already moved its application with markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="153" meta.entityid="SEBI">SEBI</keyword> to withdraw its current draft red herring prospectus (<keyword id="19914966" type="General" weightage="20" keywordseo="DRHP" source="keywords">DRHP</keyword>). The company intends to refile an updated version of the DRHP, after the bond issuance. Oravel Stays Ltd, OYO's parent company, had in November prepaid a significant chunk of its debt amounting to Rs 1,620 crore through a buyback process. The buyback involved repurchasing 30 per cent of its outstanding Term Loan B of USD 660 million. The move brought down its outstanding loan amount to around USD 450 million. A source closely involved in the company's IPO plans told PTI, "The refinancing will result in material changes to OYO's financial statements. Hence as per existing regulations, it will need to revise its filings with the regulator". "Since the decision for refinancing is at an advanced stage, it doesn't make sense to continue pursuing IPO approval with the current financials. So it's prudent to withdraw the current application," he added. The refinancing will extend the repayment timeline to five years -- versus the repayment of the remaining TLB due in 2026 -- the source said. The bond issuance would significantly lower the current effective interest rate of 14 per cent on its existing USD 450 million Term Loan B (TLB) facility. "The refinancing is expected to result in annual interest savings of USD 8-10 million (Rs 66.4-83 crore) in the first year, after accounting for the costs associated with the bond issuance. The company anticipates annual savings of USD 15-17 million (Rs 124.5 -141.1 crore) thereafter, almost all of which would get added to its net profits. Post the debt refinancing, the company is open to contemplating an equity round, to reaffirm investor confidence before a public listing to fortify its financial strength," the source said. In September 2021, OYO had filed preliminary documents with the Securities and Exchange Board of India (Sebi) for a Rs 8,430 crore IPO. The launching of the IPO was delayed due to the then volatile market conditions making the company prepare to settle for a lower valuation at around USD 4-6 billion instead of the USD 11 billion it was targeting initially. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9x-5g-with-120hz-display-6000mah-launched-starting-at-12999/slidelist/110176453.cms" target="_blank">iQOO Z9x 5G with 120Hz display, 6000mAh launched starting at ₹12,999</a><a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/woman-loses-54-lakh-in-work-from-home-scam-heres-what-it-is-and-how-to-protect-yourself/articleshow/110166963.cms" target="_blank">Woman loses ₹54 lakh in work-from-home scam! Here's what it is and how to protect yourself</a>

OYO withdraws DRHP, to refile IPO post refinancing: Sources

<ul><li>The IPO is a mix of fresh issue of ₹1,250 crore and an offer for sale of up to ₹5,750 crore.</li><li>Afcons Infrastructure is a 60-year-old <keyword id="20049407" type="General" weightage="20" keywordseo="epc" source="keywords">EPC</keyword> company from the <keyword id="20474756" type="General" weightage="20" keywordseo="shapoorji-pallonji" source="keywords">Shapoorji Pallonji</keyword> group.</li><li>Its listed peers include L&amp;T, KEC International, Kalpataru Project, and <keyword id="19926448" type="General" weightage="20" keywordseo="dilip-buildcon" source="keywords">Dilip Buildcon</keyword>. </li></ul>Shapoorji Pallonji group’s construction company, Afcons Infrastructure, filed a DRHP with the market regulator, SEBI, to raise funds through a public issue. It intends to raise as much as ₹7,000 crore through this initial public offering (IPO). The IPO, with a face value of ₹10 per equity share, is a mix of fresh issue of shares of ₹1,250 crore and an offer for sale of up to ₹5,750 crore by <keyword id="21126697" type="General" weightage="20" keywordseo="goswami-infratech" source="keywords">Goswami Infratech</keyword>. The company may consider undertaking a further issue of shares through a preferential issue or any other method for a cash consideration aggregating up to ₹250 crore as a ‘pre-IPO placement’. If such placement is completed, the fresh issue size will be reduced. The offer is being made through the book-building process. Not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers. Also, not less than 15% of the net offer shall be available for allocation to non-institutional bidders, and not less than 35% of the net offer shall be available for retailers. Last year, JSW Infrastructure raised as much as ₹2,800 crore via an IPO. Six-decade-old EPC company Afcons Infrastructure is a sixty-year-old engineering, procurement, and construction (EPC) company. The company has a track record of delivering a wide range of EPC projects both domestically and internationally. It operates across five major verticals with projects across ports, highways, and urban infrastructure like metro works, bridges, flyovers etc. It also does EPC work on dams, tunnels, offshore and onshore projects. Some notable projects of the company completed include the Jammu Udhampur Highway Project, <keyword id="21126696" type="General" weightage="20" keywordseo="nagpur-metro-reach" source="keywords">Nagpur Metro Reach</keyword> 3, and <keyword id="21126698" type="General" weightage="20" keywordseo="agra-lucknow-expressway" source="keywords">Agra Lucknow Expressway</keyword>. As of September 30, 2023, Afcons was actively involved in executing 67 active projects across 13 countries. The company also worked on the Chenab Bridge in Jammu &amp; Kashmir and the Atal Tunnel in Himachal Pradesh. The ongoing projects include the Kolkata Metro, <keyword id="21126699" type="General" weightage="20" keywordseo="thilafushi-link-project" source="keywords">Thilafushi Link Project</keyword> in the Maldives, and more. Its equipment base includes marine barges, cranes, tunnel boring machines, jack-ups, and piling rigs. It also has two dedicated workshops in Delhi and Nagpur for equipment maintenance. Financials &amp; other details Afcons’ order book has increased at a compounded annual growth rate (CAGR) of 7.6% from ₹26,248.46 crore in FY21 to ₹30,405.77 crore in FY23. As of September 30, 2023, its order book stands at ₹34,888.39 crore. Some of its listed peers include L&amp;T, KEC International, Kalpataru Project, and Dilip Buildcon. Its restated consolidated revenue from operations in FY23 increased 14.7% to ₹12,637.38 crore from ₹11,018.97 crore in the previous year. This is primarily due to an increase in construction contract revenue, driven by an increase in business in its urban infrastructure and hydro and underground business verticals, both in India and overseas. Profit after tax grew 14.89% from ₹357.60 crore for FY22 to ₹410.86 crore for FY23. For the six months ended September 30, 2023, revenue from operations stood at ₹6,505.39 crore, and profit after tax stood at ₹195.13 crore. ICICI Securities, DAM Capital Advisors, Jefferies India, Nomura Financial Advisory and Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers, and Link Intime India is the registrar of the issue.

Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO

Supam Maheshwari, cofounder and CEO of mother and child care e-commerce platform <keyword id="19939174" type="General" weightage="20" keywordseo="FirstCry" source="keywords" meta.keywordsubtype="org" meta.entityname="FirstCry" meta.hostid="153" meta.entityid="FirstCry">FirstCry</keyword> has reportedly offloaded 6.2 million shares prior to filing for the company's initial public offer (<keyword id="19905471" type="TOPIC" weightage="20" keywordseo="IPO" source="TOPIC" meta.keywordsubtype="equity,investopedia" meta.msid="19357203" meta.seopath="i/ipo" meta.entityname="IPO" meta.hostid="153" meta.entityid="ipo">IPO</keyword>). According to a MoneyControl report, Maheshwari's offloaded shareholding would be over Rs 300 crore. <keyword id="1615917" type="General" weightage="20" keywordseo="firstcry" source="Orion">FirstCry</keyword> CEO has also listed himself as a selling shareholder in the public issue, according to the company's Draft Red-Herring Prospectus (<keyword id="131606" type="General" weightage="20" keywordseo="drhp" source="Orion">DRHP</keyword>). He had 7.46 per cent stake in the company but after filing the draft <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> papers, his holding came down to 5.95 per cent stake. According to the DRHP, Maheshwari has offloaded 9.34 million shares during six months before the date of filing of the IPO papers. "At the price of Rs 487.44 apiece, this share transfer would be worth over Rs 455 crore," said the report. FirstCry was yet to respond to the report. Japanese investment giant <keyword id="19944037" type="General" weightage="20" keywordseo="softbank" source="keywords">SoftBank</keyword> has sold shares worth $310 million in FirstCry in two rounds, according to earlier reports. Late last month, FirstCry filed its DRHP with the market regulator SEBI, seeking to raise Rs 1,816 crore via fresh issue of shares. FirstCry's parent company BrainBees Solutions filed the DRHP which includes offer-for-sale (OFS) comprising 5.4 crore equity shares. FirstCry will use the IPO funds to set up modern retail stores and warehouses across the country. Meanwhile, the company reported Rs 5,632 crore revenue from operations in FY23, while its losses surged over six times to Rs 486 crore from Rs 79 crore in FY22.

IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report

Homegrown electric two-wheeler manufacturer <keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> aims to raise nearly Rs 5,800 crore through an Initial Public Offering (IPO) and is set to file its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) by December 20, media reports said on Monday. According to the reports, the company is looking to list at a valuation of more than $7 billion by early 2024. Through the IPO, Ola Electric plans to expand its EV business and establish a lithium-ion cell manufacturing facility, the reports said. The company started sales in December 2021 and has sold over 353,000 units to date. Meanwhile, Bhavish Aggarwal-driven Ola Electric's net loss nearly doubled to Rs 1,472 crore in FY23, from Rs 784.1 crore in the previous fiscal year, as expenses surged significantly. The electric vehicle company reported an EBITDA loss of Rs 1,318 crore as its total expenses jumped to Rs 3,383 crore, in comparison to Rs 1,240 crore in FY22. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is a measure of core corporate profitability. The company is now targeting an EBITDA profitability of Rs 803 crore in FY25. The company saw its losses growing nearly 293 per cent to Rs 784 crore in FY22.

Ola Electric aims to raise nearly Rs 5,800 cr via IPO, to file DRHP

<ul><li>Cello World’s proposed IPO is a complete offer for sale by promoters and other shareholders.</li><li>The company manufactures and sells consumer houseware, writing instruments, stationery, moulded furniture and allied products.</li><li>It has 13 across five locations in India, with most facilities in Daman. </li></ul>Mumbai-based Cello World known for its consumer houseware, stationery, moulded furniture and others has filed its Draft Red Herring prospectus (DRHP) with market regulator SEBI to raise funds through for its public offer. The initial public offer (IPO) with a face value of ₹5 is a complete offer for sale (OFS) where promoters and other shareholders will sell shares. The OFS comprises of up to ₹300 crore by Pradeep Ghisulal Rathod, up to ₹670 crore by Pankaj Ghisulal Rathod, up to ₹380 crore by Gaurav Pradeep Rathod, up to ₹200 crore by Sangeeta Pradeep Rathod, up to ₹100 crore by Babita Pankaj Rathod and up to ₹100 crore by Ruchi Gaurav Rathod. The offer is being made through the book building process, wherein not more than 50% shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs). Not less than 15% of the shall be available to non-institutional bidders and not less than 35% to retail investors. Its book running lead managers are Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial and Motilal Oswal Investment Advisors Limited. Link Intime India Private Limited is the registrar to the offer. About the company The company has 13 manufacturing facilities which are either owned or leased. It has eight facilities in Daman, two in Haridwar; one each in Baddi, Chennai, and Kolkata. It’s also in the process of establishing a glassware manufacturing facility in Rajasthan. Its distribution network spans across the nation, supported by a sales team of 683 members. For the consumer houseware category, it collaborates with 678 distributors and around 51,900 retailers across India. For stationery, it has 29 super-stockists, approximately 1,450 distributors, and roughly 59,100 retailers. In the moulded furniture and allied products category, it works with 1,067 distributors and around 6,500 retailers located throughout India.

Houseware & stationery maker Cello World seeks SEBI's nod to raise ₹1,750 crore via IPO

New Delhi, <keyword id="6379123" type="General" weightage="100" keywordseo="jana-small-finance-bank" source="Orion">Jana Small Finance Bank</keyword> Ltd has re-filed draft papers with capital markets regulator Sebi to mobilise funds through an initial public offering (IPO). The IPO comprises fresh issue of shares aggregating up to Rs 575 crore and an Offer for Sale (OFS) of up to 4,051,516 equity shares by the company's existing investors, according to the fresh draft red herring prospectus (DRHP) filed on Sunday. Those offering shares in the OFS are: Client Rosehill Ltd, CVCIGP II Employee Rosehill Ltd, Global Impact Funds, S.C.A., SICAR, Sub-Fund Global Financial Inclusion Fund, Growth Partnership II Ajay Tandon Co-Investment Trust, Growth Partnership II Siva Shankar Co-Investment Trust, and Hero Enterprise Partner Ventures. The small finance bank has proposed to utilise the net proceeds from the fresh issue towards augmenting its Tier - 1 capital base to meet future capital requirements such as organic growth and expansion. The lender serves underbanked customers through various products, including zero balance savings accounts, fixed deposits with attractive interest rates, collateral-free loans and affordable housing loan schemes. It offers loans to MSMEs, agriculture sector, individuals, affordable housing sector and two-wheeler buyers and also provides gold loans to customers. The bank had earlier filed preliminary IPO papers with Sebi in April 2021 and had received the regulator's nod to launch the public issue. However, Jana Small Finance Bank did not launch its public issue that time. According to Fitch Report, Jana Small Finance Bank is the fourth largest small finance Bank in terms of assets under management (AUM) deposit size as on March 2023. The bank had 754 banking outlets, including 272 outlets in unbanked rural centres, in 22 states and two Union Territories as of March 2023. Axis Capital, ICICI Securities and <keyword id="6375759" type="General" weightage="50" keywordseo="sbi-capital-markets" source="Orion">SBI Capital Markets</keyword> are the book running lead managers to the issue.

Jana Small Finance Bank re-files IPO papers with Sebi

<ul><li>Cyient DLM looks to raise ₹740 crore through a fresh issue of equity shares.</li><li>The company is a wholly owned subsidiary of IT services company Cyient, which is listed on Indian stock exchanges.</li><li>The company is a qualified supplier to global original equipment manufacturers (OEMs) in the aerospace and defence, medical technology and industrial sectors.</li><li>China plus one strategy is aiding the company by providing opportunities to grow its business and market share, it says in its DRHP. </li></ul>Electronic manufacturing services and solutions provider Cyient DLM filed its draft red herring prospectus (DRHP) papers with market regulator SEBI to raise funds through an initial public offering (IPO). The company is a wholly owned subsidiary of IT services company Cyient, which is listed on Indian stock exchanges. Cyient has informed investors in a BSE statement that its subsidiary may also consider raising up to ₹148 crore prior to the filing of the red herring prospectus with the registrar of companies. If it raises funds through the pre-IPO placement, the fresh issue size will be reduced accordingly. Cyient DLM is looking to raise ₹740 crore through a fresh issue of equity shares. The proceeds from the IPO will be utilised towards funding incremental working capital, capital expenditure, repayment of loans, achieving inorganic growth through acquisitions and general corporate purposes. The company is a qualified supplier to global original equipment manufacturers (OEMs) in the aerospace and defence, medical technology and industrial sectors. It claims to be amongst few electronic manufacturing services (EMS) companies in India catering to highly regulated industries; and the largest supplier of EMS services to the aerospace and defence industry. Its offerings include printed circuit boards, cable harnesses, and box builds which are used in safety critical systems such as cockpits, inflight systems, landing systems, and medical diagnostic equipment. Some of its marquee customers are Honeywell International, Thales Global Services SAS, ABB Inc, Bharat Electronics and Molbio Diagnostics. It has manufacturing facilities in Mysuru, Hyderabad and Bengaluru. China plus 1 strategy The company in its DRHP said that India is well positioned to benefit from global original equipment manufacturer’s (OEM) strategy towards China plus 1 strategy for supply chain diversification. China leads the global electronic manufacturing services business, and had 46.7% share in 2021. It is a global leader due to operational cost benefits, availability of a large number of highly skilled personnel, infrastructure, logistical advantages, and proximity to the largest end user base across all end-user verticals, the company says. “However, many global electronics manufacturers are now contemplating on China + 1 strategy and looking for alternate manufacturing locations for exports, creating tremendous investment potential for countries like Vietnam, India, and the Philippines etc,” said the draft red herring prospectus. Its order book has increased to ₹1,202 crore as on March 2022 from ₹906 crore in the previous year. The company is heavily dependent on ten customers as 93.24% of its revenues came from them in FY22. Its dependence on these customers has gone up slowly but steadily to 90.8% in FY21 and 89.3% in FY20. The profitability of the company has more than tripled in FY22 from the previous financial year at ₹39.7 crore. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </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 from operations </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 for the period </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;">₹720 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;">₹39.7 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;">₹628 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;">₹11.8 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;">₹457 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;">-₹6.7 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/this-shark-tank-india-s2-winner-bowls-judges-over-with-its-for-profit-approach-to-social-impact-haqdarshak/articleshow/96906954.cms">This Shark Tank India S2 winner bowls judges over with its for-profit approach to social impact</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/net-inflows-in-mf-schemes-up-three-times-at-7303-crore-in-december/articleshow/96881163.cms">Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December</a>

Cyient subsidiary files draft papers with SEBI for IPO worth ₹740 crore

<ul><li><keyword id="194006" type="General" weightage="20" keywordseo="Tata-Technologies" source="Orion">Tata Technologies</keyword> is a global product engineering and digital services company.</li><li>The IPO is a complete offer for sale (OFS) by the promoter Tata Motors and two other existing shareholders.</li><li>Tata Technologies received over 40% of its revenues from its anchor clients in FY22.</li></ul>Another company from the salt-to-software conglomerate Tata Group is preparing to get listed on exchanges. Tata Technologies, a subsidiary of Tata Motors, filed its papers with the market regulator SEBI on Thursday. Tata Technologies is a global product engineering and digital services company, run by CEO, Warren Harris. It focuses on four key verticals — automotive, aerospace, industrial machinery and industrials. The IPO will completely be an offer for sale (OFS) by the promoter Tata Motors and two other existing shareholders. The issue does not involve any fresh issue of shares. The OFS includes sale of 9.57 crore shares representing approximately 23.6% of paid up share capital. On December 12, 2022 Tata Motors board had accorded in-principle approval to explore the possibility of partial divestment in its subsidiary Tata Technologies via an IPO route, at an opportune time. So far, Tata Motors holds 74.69% stake in Tata Technologies while Alpha TC Holdings Pte owns 7.26%, while Tata Capital Growth Fund owns 3.63% stake in the company. After tech behemoth TCS in 2004, no other Tata company has made a debut on the domestic bourses. Tata Technologies gets 40% of its revenues from Tata Motors and JLR Tata Technologies has a global workforce of over 11,081 employees spread across 18 global delivery centers in Asia Pacific, Europe and North America. However, the company mostly depends on the Tata Group for business with its anchor clients being Tata Motors and <keyword id="6354362" type="General" weightage="20" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword>. “We continue to derive a material portion of our revenues from our top 5 clients by revenue generated in Fiscal 2022 (“Top 5 Clients”) which include Tata Motors (our Promoter) and certain of its subsidiaries (other than JLR) (collectively, “Tata Motors”) and JLR (JLR and Tata Motors together, the “Anchor Clients”),” said the company in its DRHP. The company received over 40% of its revenues from its anchor clients in FY22, which has come down from 51% in FY21 and 54% in FY20. The company’s profitability has increased 74% in the last three financial years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fiscal year </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;">Total income </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;">₹3,578 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;">₹436 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;">₹2,452 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;">₹239 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;">₹2,896 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;">₹251 crore </td></tr></tbody></table>Source: DRHP Tata Motors to benefit from the IPO <a href="https://www.livemint.com/Companies/5FqMJqtnmB6VHOTmho6CHP/Warburg-Pincus-Tata-Motors-call-off-360-million-stake-sale.html">In 2018, Tata Motors had called off a deal </a>to sell 43% stake in Tata Technologies to private equity firm Warburg Pincus for $360 million, citing delays in securing regulatory approvals. Since Tata Motors would sell its stake through the IPO, the proceeds will help the reeling automaker recover. In the quarter ending December 2022, Tata Motors reported a net profit of ₹2,958 crore after seven quarters of loss. Tata Motor’s subsidiary Jaguar Land Rover has been struggling with semiconductor shortages, which has been impacting its performance for the last five-to-six quarters. A delay in the recovery of its British subsidiary JLR due to continuing chip shortages has resulted in the company scaling back its guidance for FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bengaluru-accounts-for-four-out-of-five-layoffs-by-indian-startups-in-2023-so-far/slidelist/98534987.cms">Bengaluru accounts for four out of five layoffs by Indian companies in 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">Reliance brings back the iconic Campa beverage brand</a>

Tata Technologies files DRHP with SEBI: All you need to know about this Tata Motors subsidiary

<ul><li>The IPO consists of a fresh issue of ₹350 crore and an offer for sale of upto 7.5 million shares by shareholders and promoters.</li><li>The proceeds from the <keyword id="15151031" type="General" weightage="20" keywordseo="IKIO-Lighting-IPO" source="Orion">IKIO Lighting IPO</keyword> will be used to repay debt worth ₹50 crore. As of August 2022, the company’s total outstanding borrowings amounted to ₹70 crore.</li><li>It is looking to open a new facility at Noida, Uttar Pradesh.</li></ul>IKIO Lighting, which is a provider of light-emitting diode (LED) lighting solutions, has filed draft papers with the Securities Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company intends to raise as much as ₹350 crore, via a fresh issue and an offer for sale. The proceeds from the IPO will be used to repay debt worth ₹50 crore. As of August 2022, the company’s total outstanding borrowings amounted to ₹70 crore. Further, it is looking to open a new facility at Noida, Uttar Pradesh by investing IPO proceeds worth ₹236 crore via its subsidiary IKIO Solutions. IKIO Lighting has four facilities with one in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida. As of March 2022, it had an annual installed capacity to manufacture 20.31 million LED light pieces. The company had witnessed a partial shutdown of its units during lockdown. “Due to the nationwide lockdown, we were required to shut down our manufacturing operations from March 25, 2020 to May 3, 2020. Any future restrictions on our workforce’s access to any of our manufacturing facilities and the health and availability of our workforce could limit our ability to meet customer orders and have a material adverse effect on our business, results of operations and financial condition,” said the company in DRHP. In the past three fiscal years, it provided products to over 900 domestic and six international customers. Philips Electronics is one of its largest customers. The company is in negotiations with some of its existing customers to supply their LED home lighting products to their international supply chain. Along with its improving profitability in the last three years, the company’s EBITDA margin has also improved over time. It was at 23.3% in FY22; 22.4% in FY21 and 16.94% in FY20. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fiscal year </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;">₹333 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><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;">₹214 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;">₹28 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;">₹221 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;">₹21 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-set-to-open-on-oct-4-commands-grey-market-premium-of-30/share/articleshow/94620046.cms">Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/heres-all-you-need-to-know-about-suzlon-energys-1200-crore-rights-issue-after-founder-tulsi-tantis-death/articleshow/94617068.cms">Here’s all you need to know about Suzlon Energy’s ₹1,200 crore rights issue after founder Tulsi Tanti’s death</a>

Noida-based LED IKIO Lighting files DRHP with SEBI to raise ₹350 crore

<ul><li>Walmart had acquired <keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> for a whopping $16 billion, giving exits to both founders Sachin and Binny Bansal.</li><li><keyword id="225032" type="General" weightage="20" keywordseo="sachin-bansal" source="Orion">Sachin Bansal</keyword> went on to found his financial products and services company Navi Technologies, which is now looking to go public.</li><li>Yet Sachin Bansal is still dealing with eight lawsuits related to his tenure at the ecommerce titan Flipkart.</li></ul>It has almost been four years since Sachin Bansal formally gave up all leadership responsibilities of Flipkart, yet he is still dealing with eight lawsuits related to his tenure at the ecommerce titan. The <a href="https://www.businessinsider.in/stock-market/news/flipkart-cofounder-sachin-bansals-latest-venture-navi-files-draft-papers-for-3350-crore-ipo/articleshow/90172988.cms">draft red herring prospectus (DRHP) of Navi Technologies</a>, Bansal’s latest entrepreneurial venture, revealed that there are currently thirteen lawsuits and litigations filed by or against the 40-year-old. While some of these matters are related to Bansal’s personal life, others are all around his stint at Flipkart. The <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-and-tiger-global-have-a-billion-dollar-notice-to-respond-to-in-the-next-90-days/articleshow/85059732.cms">latest one of this is by Enforcement Directorate</a> (ED), where the state-run financial investigation agency issued a show cause notice against <keyword id="2119269" type="General" weightage="20" keywordseo="flipkart-founders" source="Orion">Flipkart founders</keyword> Sachin and Binny Bansal in July 2021. The agency asked both the founders why they shouldn't face a $1.35 billion penalty over alleged violation of Foreign Exchange Management Act (FEMA) between 2009 and 2015. The notice was also sent to investors Accel, Tiger Global, Accel nominee director Subrata Mitra, and Tiger Global nominee director Lee Fixel, who had invested in Flipkart before it was acquired by Walmart in 2018. In response, Sachin Bansal filed a <a href="https://www.businessinsider.in/business/news/flipkarts-sachin-bansal-moves-madras-high-court-challenging-ed-notice/articleshow/85903371.cms">writ petition before Madras High Court </a>in August to challenge the show cause notice. The matter is currently pending before court. However, ED has not taken any steps in the matter so far. “...If any adverse order is passed against the Promoter [in this matter], such outcome may have an adverse impact on the reputation of our Company and may also affect the business prospects of our Company [Navi],” the DRHP noted. There are six matters where petitions have been filed against Flipkart between 2015 to 2021, where Bansal has been made a party “due to his past associations with Flipkart”, the DRHP read. “Our Promoter has not received any notice or summons nor has any access currently to any information pertaining to these matters,” it further added. Flipkart has also filed a case in Madhya Pradesh High Court against an individual. Bansal is mentioned as a petitioner. All these matters are currently pending in court. US retail giant Walmart had acquired Flipkart for a whopping $16 billion, in exchange for 77% stake in the ecommerce giant, in May 2018. Sachin Bansal had exited the company soon after the acquisition, whereas Binny Bansal still holds around 2.4% in the company. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paytms-shares-hit-an-all-time-low-plunging-below-the-700-mark-after-rbi-pulls-up-its-payments-bank/articleshow/90193957.cms" data-type="tilCustomLink">Paytm’s shares hit an all-time low plunging below the ₹700-mark after RBI pulls up its payments bank</a> <a href="https://www.businessinsider.in/business/startups/news/interview-you-will-be-able-to-own-bajaj-made-yulu-bikes-by-next-year/articleshow/90172838.cms" data-type="tilCustomLink">INTERVIEW: You will be able to own Bajaj-made Yulu bikes by next year</a> <a href="https://www.businessinsider.in/business/corporates/news/ebixcash-has-four-businesses-but-only-one-of-them-is-pulling-in-big-money-for-the-company/articleshow/90190010.cms" data-type="tilCustomLink">EbixCash has four businesses but only one of them is pulling in big money for the company</a>

You Searched For "DRHP" and got 13 results

Hero Motors files draft papers for Rs 900-crore IPO, may consider pre-IPO fundraising

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Ola Electric aims to raise nearly Rs 5,800 cr via IPO, to file DRHP

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Cyient subsidiary files draft papers with SEBI for IPO worth ₹740 crore

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Tata Technologies files DRHP with SEBI: All you need to know about this Tata Motors subsidiary

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Noida-based LED IKIO Lighting files DRHP with SEBI to raise ₹350 crore

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Four years later, Sachin Bansal is still battling eight lawsuits from his Flipkart days

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