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<ul><li>Promoters are cashing out of <keyword id="381854" type="COMPANY" weightage="20" keywordseo="Indiamart">Indiamart</keyword> with the ₹4.75 billion initial public offering.</li><li>The IPO closed the first day with 50% subscription. </li><li>IndiaMart faces competition from the likes of Alibaba India.</li></ul>IndiaMart is India’s first big initial public offering (IPO) in the Narendra Modi government’s second term. At the end of the first day, the IPO has been subscribed by 50%. IndiaMART InterMESH which is the parent company for Indiamart.com – one of the country’s biggest online marketplaces for businesses – had opened the doors for its ₹4.75 billion IPO. A total of 4.88 million shares of the company are up for grabs,at a price band of ₹970-₹973 per share. The IPO will be closed for subscription on June 26. IndiaMart had also registered a compounded annual growth in revenue (CAGR) of 26% in the last three years. However, Indiamart will not receive any of the IPO proceeds. In fact, the listing is only an offer for sale (OFS) through which the promoters and shareholders will dilute 0.49 crore shares of the company. Competition in the market IndiaMart, which was founded in 1999, today claims to have a 60% market share of the online B2B Classified space in India, and it focuses on providing a platform to Small &amp; Medium Enterprises (SMEs), large enterprises as well as individuals. IndiaMart has over 82.7 mn registered buyers and 5.55 million supplier storefronts across 54 industries in India as of FY19. What’s better, there has been a growth of 21% in paid subscribers on the platform in the last three years, according to Geojit, and the number of registered buyers has grown 45% in the same period <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
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 However, its competitors are far behind. Some of its competitors are TradeIndia.com, Alibaba India and ExportersIndia.com. TradeIndia.com was started in 1996 has over 4.96 million registered users today, according to the company’s official website. ExportersIndia was founded in 1997 and has over 2.7 million users in India. Meanwhile, the globally e-commerce giant Alibaba launched the India unit in 2008 and has over 6 million members with 15,000 Indian SMEs on its platform. Alibaba could soon push for growth in the Indian market too given the economy’s potential as the world’s fastest growing economy. E-commerce in India is expected to be $200 billion industry by 2026. Key risks That brings us to the biggest risks that the company could face in the near term. Aside from competition, there is a huge slowdown in overall consumption in India. “Demand slowdown for the types of products and services listed by suppliers on IndiaMart online marketplace,” was the top risk cited by Geojit in a report, followed by losses in previous years as well as high employee costs.

IndiaMart, a 20-year old online marketplace and one of the country’s biggest, is selling shares as e-commerce gets more competitive

<ul><li>In an interview with Business Insider, <keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword> spoke about being the first IPO after the elections and what the future looks like for IndiaMart.</li><li>IndiaMART InterMESH which is the parent company for Indiamart.com, had opened the doors for its ₹4.75 billion IPO. </li><li>Its IPO was oversubscribed 36 times.</li></ul>When IndiaMart opened its doors for an Initial Public Offering, the founder Dinesh Agarwal was apprehensive – after all, it was the first IPO after the elections with the Narendra Modi government coming back to power – and that too a tech IPO! But in two days, investors subscribed for 36 times the total number of shares on offer. Today, the stock has listed 25% over its issue price. IndiaMART InterMESH which is the parent company for Indiamart.com – one of the country’s biggest online marketplaces for businesses – is one of the country’s oldest e-commerce ventures that started in 1999. It competes with TradeIndia.com, Alibaba India and ExportersIndia.com. IndiaMart has over 82.7 million registered buyers and 5.55 million supplier storefronts across 54 industries in India at the end of March 2019. This compares to TradeIndia.com’s (founded in 1996) 4.96 million registered users today, ExportersIndia’s (founded in 1997) over 2.7 million users in India. Meanwhile, the global e-commerce giant Alibaba, which launched the India unit in 2008, has over 6 million members with 15,000 Indian SMEs on its platform. However, at IndiaMart competition isn’t a worry. “We are 16X the size of our next competition, our lead is only growing. It’s a winner takes it all kind of a market and we are getting the larger share as the market is growing,” Dinesh Agarwal, founder and CEO of IndiaMart, told Business Insider. In an interview, Agarwal said the IPO process very overwhelming but he was sure of the prospects. “We were confident about our numbers, having built a robust business and having had great numbers since the last three years. Even while the small and medium enterprises had faced temporary setbacks like demonetization, GST and then the elections, we have managed to put out our best performance,” said Agarwal. IndiaMart’s revenue has been growing at 29% per annum for three years. IndiaMart, which was founded in 1999, today claims to have a 60% market share of the online business classifieds space in India, and it focuses on providing a platform to Small &amp; Medium Enterprises (SMEs), large enterprises as well as individuals. Will the success of Indiamart’s IPO open the doors for others too? “That’s a tall claim. I think it all depends on the readiness of the company rather than the market,” he said. With a listing on the stock market, IndiaMart is now open to market scrutiny. But Agarwal is rest assured. “Our business model has been proven time and again. We know how to steer through tough times and accept newer technologies. When we started we were a desktop based company, now we are a mobile B2B company, so we have seen how to evolve with time. We have seen 5 governments too through our time!,” he said. With the IPO proceeds in its kitty, IndiaMart plans to grow bigger. “Today we are attracting larger companies like Jindal Steel, JCB Machines, who are advertising and generating leads on our platform. We have also adapted SaaS - Software as a Service - where we have developed a CRM for SMEs to manage their leads, invoice management and more,” he said. IndiaMart has also started offering payment facilitation services and Agarwal is looking at fintech as a space to grow further. “Going forward we will be looking at buyer purchase financing and SME lending as well,” he said. SEE ALSO: <a href="https://www.businessinsider.in/indiamart-ipo-subscription-data-and-competition-with-alibaba/articleshow/69930223.cms">IndiaMart, a 20-year old online marketplace and one of the country’s biggest, is selling shares as e-commerce gets more competitive</a>

Indiamart founder CEO Dinesh Agarwal celebrating a 25% jump in value at listing says Indian e-commerce is a ‘winner takes all’ market

<ul><li>Goldman Sachs Managing Director stated that the tech IPO market in the midst of 'super cycle'. </li><li>There are over 300 private tech companies valued at over $1 billion who now have to choose between staying private or going public though they might not necessarily be ready. </li><li>Uber, Lyft and Fiverr have already launched their IPOs this year. </li></ul>A large number of tech companies are racing ahead to public, kickstarting a tech IPO supercycle. While Uber, Lyft, Fiverr and Crowdstrike have <a href="https://www.businessinsider.in/here-are-the-mega-ipos-so-far-in-2019/articleshow/68786053.cms">already launched</a> their initial public offerings (IPOs) while Pinterest and Slack are<a href="https://www.businessinsider.in/The-tech-IPO-bonanza-More-than-100-unicorns-could-go-public-this-year/articleshow/68706719.cms"> mulling it over</a>. In India too, tech companies like Indiamart are planning to go public. Nick Giovanni, the Managing Director at <a href="http://midtowntribune.com/2019/06/18/tech-ipo-super-cycle/">Goldman Sachs</a> predicts, "There are over 300 private companies with private valuations over $1 billion, and dozens that have valuations over $10 billion, and so there are just more large private companies waiting to go public than at any time in the past." It sounds a lot like the dotcom bubble at the turn of the century but it might not play out the same way. The Super Cycle The IPO market for tech companies is set to boom after a decade of staying private. The 'super cycle' — the longest period of growth in a particular market — may have tech companies vying to go public. It's not necessarily because they're ready for the market, but because they want to get ahead of the competition. Early access to market means that their employees and early investors will get the first crack at unloading their shares. They also get to tap into a buyer's initial curiosity about a particular technology. Being listed gives tech companies the opportunity to acquire firms using publicly traded stock — a currency that private companies don't have access to. Dangers of the 'super cycle' If 2019 is truly the year of the tech IPOs, then there will be a lot more as the year progresses. But it may not be all good news. Increased tech IPOs would multiply the number of tech stocks available to trade. Since the number of tech investors is finite, this money into new IPOs could flow from already listed tech companies, stressing out valuations across the listed tech space. This change in valuations will have a ripple effect on the valuation of private companies as well. The onslaught on IPOs also has the potential to change the market perception of tech companies. Until recently, companies like Airbnb and Uber were considered 'better' for remaining private. Going public means that the company is ready for public scrutiny and accountability. That's a price they are willing to pay to thrive. But, in the rush to gain the first mover advantage, companies might be jumping in before they're ready to meet shareholder expectations. Recent examples In fact, Lyft and Uber — both ridesharing solutions — were caught in a race to the finish line having filed their paperwork with the Securities and Exchange Commission on the same day. And, Uber's launch on June 5 left Lyft's stock price in the dust. Uber's momentary win was shadowed by the fact that its market was at $64 billion, far below the $120 billion target. Fiverr, an Israeli startup for freelance writers, on the other hand, has been doing much better for itself. It's a gig-economy app, where freelancers can offer a host of different services like copy editing, logo design, and social media management to individuals or small companies who are on a budget or don't necessarily want to hire a full-time employee. Launched on June 13, investors are willing to put their money into the IPO despite the fact that the company is currently losing money. "After a very strong 2018, 2019 is on pace to continue to growth of the IPO market." Giovanni said during the Long and Short of it adding that, "What's different is that it's much more broad based than previous peaks."

Here's why the flurry of tech IPOs in 2019 is nothing like the dotcom boom of late 1990s

<ul><li>The Economic Survey 2018-19 is making a case to use Aadhaar as a ‘master database’ for every citizen. </li><li>The Economic Survey 2018-19 also highlights how technology has helped plug leaks and corruption in the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). </li><li>NASA successfully tests the launch abort system for its upcoming manned Moon mission, Artemis. </li><li><keyword id="127964" type="PERSON" weightage="20" keywordseo="Dinesh-Agarwal">Dinesh Agarwal</keyword>, the CEO and founder of Indiamart, is celebrating the 25% jump in the company’s valuation since its gone public. </li><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> is collaborating with Facebook to launch a ‘digital literacy’ campaign in India claiming to be largest campaign of its kind in the country. </li></ul>This is Tech Insider’s daily dose of <keyword id="35609" type="PERSON" weightage="20" keywordseo="tech-news">tech news</keyword> — everything that’s happening in tech that you need to know about today from Business Insider and its partner publications:

Today’s top tech news: Aadhar could be a ‘master database’ of Indian citizens, NASA has a fail safe in place in case Artemis goes wrong and Indiamart’s CEO is celebrating the company's 25% jump in value

Today’s top tech news: Aadhar could be a ‘master database’ of Indian citizens, NASA has a fail safe in place in case Artemis goes wrong and Indiamart’s CEO is celebrating the company's IPO

<ul><li>Policybazaar, Sigachi Industries and SJS Enterprises are all set to open their IPOs next week.</li><li>All three IPOs will open on November 1 and close on November 3.</li><li>Overall, the three companies are looking to raise about ₹6,634 crore in three days of bidding process.</li></ul>Initial public offerings (IPOs) season is back with a bang as three companies are set to open their bidding process for public listing. Policybazaar, Sigachi Industries and SJS Enterprises are looking to altogether raise ₹6,634 crore in the first week of November. All three IPOs will open on November 1 and close on November 3. At the same time, the beauty and fashion ecommerce company Nykaa worth ₹5,352 crore issue size is opening its <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> tomorrow, October 28, which will close on November 3. Meanwhile, investors are awaiting announcement on IPO dates of fintech players Paytm, MobiKwik and edible oil maker Adani Wilmar, which may also open in November. PolicyBazaar PB Fintech, the parent company of online fintech marketplaces PolicyBazaar and PaisaBazaar, is coming with an IPO next week. The issue size of the IPO is ₹5,709 crore consisting of a fresh issue of ₹3,759 crore and an offer for sale of ₹1,959 crore by its existing shareholders PB Fintech has built two of the largest platforms for insurance and lending products through PolicyBazaar and PaisaBazaar. PolicyBazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue soon. 95% of PolicyBazaar’s revenue comes from commissions from insurance companies on selling policies. Sigachi Industries The Hyderabad-based manufacturer of cellulose-based excipients, Sigachi Industries, is looking to raise ₹125.43 crore by selling 76.95 lakh shares. The company is engaged in the manufacturing of microcrystalline cellulose, the polymer that is widely used for finished dosages in the pharmaceutical industry. It operates through three manufacturing units in Hyderabad and Jhagadia, Dahej located in Gujarat. The proceeds from the issue will be used for expansion of production facilities of MCC at Dahej and Jhagadia in Gujarat. SJS Enterprises SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, will also open its IPO alongside PolicyBazaar and Sigachi Industries on November 1. The IPO consists of a pure offer for sale of ₹710 crore by Evergraph Holdings Pte and ₹90 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively. It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune. IPO details of all three companies are the same: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 1 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 12 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 15 </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/hot-stocks-like-irctc-indiamart-infoedge-corrected-up-to-10-from-their-recent-peaks/slidelist/87306665.cms">Hot stocks like IRCTC, IndiaMART, Infoedge corrected up to 10% from their recent peaks</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-ipo-stock-brokers-recommend-to-invest/articleshow/87303946.cms">Looking to invest in Nykaa’s IPO? Here’s what analysts are saying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-you-can-pre-apply-to-upcoming-ipos-of-nykaa-policybazaar-paytm/articleshow/87302366.cms">Here’s how you can pre-apply to upcoming IPOs of Nykaa, PolicyBazaar and Paytm</a>

IPOs worth around ₹7,000 crore to open in November first week

Mumbai, Dec 26 () Reflecting the woes of the broader economy, fund raising through IPOs plunged to a low Rs 12,362 crore in 2019, down a full 60 per cent from 2018 when the street mopped up Rs 30,959 crore. 
The outgoing year saw only 16 initial public offerings (IPOs) as against 24 in 2018, show the data collated by the premier database on the capital market Prime Database.
 That the economy is in bad shape -- Q2 GDP has come in at near seven-year-low of 4.5 per cent and there is no sign of any improvement going forward -- is clear from the fact that as many 47 companies who got Sebi nod to raise over Rs 51,000 crore through IPOs allowed their same to lapse.
 However, driven by offer-for-sale and qualified institutional placements, the street saw 28 per cent growth in overall fund raising at Rs 81,174 crore in 2019, against Rs 63,651 crore in 2018 but this is 49 per cent lower than the all-time high of Rs 1,60,032 crore raised in 2017, says Pranav Haldea, managing director at Prime Database Group.
 The year 2017 saw 36 IPOs mopping up Rs 67,147 crore, while 2016 saw 26 issues collecting Rs 26,494 crore and Rs 13,614 being raised in 2015 through 15 issues and 2014 being the worst at Rs 1,201 crore from five IPOs, show the data.
 The largest IPO in 2019 was from Sterling &amp; Wilson Solar which raised Rs 2,850 crore, while the average issue size was Rs 773 crore.
Only three of the 16 IPOs that hit the market had a prior PE/VC investment, a notable change from previous years. OFS by such PE/VC investors stood to Rs 803 crore, accounting for just 6 per cent of IPO amount. OFS by promoters at stood at Rs 7,513 crore, or 61 per cent of total IPO amount.
 Seven IPOs got mega responses of over 10 times (IRCTC at 109 times followed by Ujjivan Small Finance Bank 100 times), CSB Bank 48 times, Affle 48 times, Polycab 36 times, Neogen Chemicals 29 times and Indiamart Intermesh 20 times), one issue was oversubscribed by over three times, the balance seven were oversubscribed between one and three times.
 But from the listing side, the year was good with IPOs with strong debut trade. Of the 15 IPOs which got listed, seven gave a return of over 10 per cent, based on closing price on listing date. IRCTC gave a stupendous return of 128 per cent, followed by CSB Bank (54 per cent), Ujjivan (51 per cent), Indiamart Intermesh (34 per cent), Neogen Chemicals (23 per cent), Polycab (22 per cent) and Affle (17 per cent). 
 Significantly, unlike in previous years, only two IPO stocks are trading below the issue price now with the rest 13 stocks trading between 21 per cent and 170 per cent above the issue price as of December 23. 
 For the first time since the SME platform started five years ago, the IPO activity declined in 2019 as there were only 50 SME IPOs in the year collecting a paltry Rs 621 crore as against 141 issues in 2018 worth Rs 2,287 crore and 133 issues in 2017 raising Rs 1,679 crore and 67 issues raising Rs 537 in 2016 and 43 issues raising Rs 260 in 2015 and 40 IPOs collecting Rs 267 crore in 2014.
 The OFS to dilute the promoters' holding saw a huge increase from Rs 10,672 crore raised in 2018 to Rs 25,811 crore in 2019. Of this, government divestment accounted for Rs 5,871 crore or 23 per cent of the total led by it diluting its stake in Axis Bank in February worth Rs 5,358 crore, followed by SBI Life (Rs 3,524 crore) and HDFC Life (Rs 3,366 crore). 
 OFS accounted for 32 per cent of the total public equity markets amount in the year.
 The street saw 11 companies mobilizing Rs 35,238 crore through QIPs, which is 112 per cent more than Rs 16,587 crore raised in 2018. The largest QIP of 2019 was from Axis Bank raising Rs 12,500 crore, accounting for 35 per cent of the total QIP amount. QIPs were dominated by banks, NBFCs and realty companies accounting for 87 per cent (Rs 30,688 crore) of the overall amount.
 InvITs/ReITs also saw good traction with the year seeing the first ever ReIT listing by Embassy Office Parks raising Rs 3,874 crore. The overall amount raised through InvITs and ReITs was 127 percent more than in previous year.
 Of the total Rs 81,171 crore, fresh capital was Rs 45,937 crore or 57 percent and the remaining Rs. 35,234 crore being offers for sale.
But the year was bad for divestments as against the budgeted Rs 1,05,000 crore on Rs 17,744 crore or 17 percent has been achieved till date.
 According to Haldea, the IPO pipeline continues to remain strong with 21 companies holding Sebi approval to raise Rs 18,700 crore and another 13 wanting to Sebi not to raise Rs 18,000 crore. BEN MR
MR

Fund raising via IPOs plunge 60% in 2019 as economy sputters

<ul><li>Software consulting firm <keyword id="8007902" type="UNKNOWN" weightage="20" keywordseo="Alphalogic-Techsys">Alphalogic Techsys</keyword> went for an Initial Public Offering on August 26</li><li>The shares were issued at ₹84 per share.</li><li>The company was looking to raise ₹6.18 crores.</li></ul>Pune based Alphalogic Techsys’ initial public offering is oversubscribed by 1.95 times on the very second day of the issue. The IPO which opened on August 26 issued shares at ₹84. Incidentally, Alphalogic is the first to be listed under <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword>’s SME startup platform, which was launched eight months back. The company is looking to raise ₹6.18 crore and the category reserved for Non-institutional Investors (NII) was oversubscribed. Alphalogic Techsys is a software consulting firm which was founded in 2008, with operations across 12 countries. “With the raised funds we aim at expanding into new clientele and expand the team in order to leverage various organic and inorganic opportunities targeting accelerated growth,” Anshu Goel, Managing Director, Alphalogic Techsys said. According to the company, it has been growing at 40% in the last four years. In 2018-19, the company clocked a growth rate of 120%. The offer was supposed to open on August 23 was delayed due to ‘unforeseen circumstances’. One of the oldest e-commerce ventures in India, Indiamart too had launched its IPO earlier this year. It was subscribed by 36 times over the total shares shares on offer, indicating investor interest in online retailing.

Alphalogic Techsys IPO opens to a warm welcome, oversubscribed by 1.95 times

<ul><li><keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword>, the founder and CEO of <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword>, and a long-time friend of <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> founder <keyword id="424838" type="PERSON" weightage="20" keywordseo="Jack-Ma">Jack Ma</keyword>, said that the Chinese crackdown on Alibaba is the same as anti-trust regulations that have existed since a long time in the US or European countries.</li><li>He said that in China, internet companies had a free hand, where they could do whatever they wanted.</li><li>The regulators in Beijing have cracked down upon Alibaba and Ant Group, and the companies Ma founded are currently facing an antitrust probe for alleged monopolistic practices.</li><li>Son said he also has been in touch with Ma but hasn’t talked about business.</li></ul>Masayoshi Son, the founder and CEO of SoftBank, and a long-time friend of Alibaba founder Jack Ma, today said that the Chinese government crackdown on Alibaba is the same as anti-trust regulations that have existed since a long time in the US or European countries. Whereas in China, according to Son, internet companies had a free hand, where they could do whatever they wanted. “In the US, Europe or Japan antitrust policy is something that’s already there. In financial business, there’s the banking law, securities law, there are many rules and regulations. Within this framework you operate your business in a healthy manner. As you see some incidents or accidents, you learn lessons from there,” Son said during the <keyword id="2582588" type="PERSON" weightage="20" keywordseo="SoftBank-earnings">SoftBank earnings</keyword> call. The SoftBank founder added that these rules are necessary to protect the citizens of China as internet companies become bigger. The regulators in Beijing have cracked down upon Alibaba and Ant Group, and the companies Ma founded are currently facing an <a href="https://in.reuters.com/article/china-antgroup/china-launches-probe-into-alibaba-for-suspected-monopolistic-behaviour-idUSKBN28Y05T">antitrust</a> probe for alleged monopolistic practices. Earlier in November 2020, Alibaba and Ant Group's $34 billion initial public offering (IPO) was suspended by the <a href="http://www.sse.com.cn/disclosure/announcement/general/c/c_20201103_5253315.shtml">Shanghai Stock Exchange</a>. Ant Group, touted to be the world’s biggest IPO, was scheduled for a dual listing on November 5 — on Shanghai and Hong Kong bourses and it was halted in China with less than 48 hours to go. Jack Ma, whose net worth is $60.7 billion, according to Forbes, was under scrutiny by the government of China, had not been seen in public for several weeks, until recently. On asked whether Son had had any communication with Ma, the SoftBank founder said that the Alibaba founder likes to draw and has been sending him drawings. “Before I go to bed, now I also draw but I haven’t shown them to him yet. We don’t always talk about business, we also talk about hobbies, or just send regards,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/indiamart-employees-hit-gold-founder-dinesh-agarwal-reveals-that-15-of-the-multi-bagger-stock-is-with-600-people-who-are-or-have-been-part-of-the-team/articleshow/80743945.cms">IndiaMart employees hit gold⁠— founder reveals that 15% of the multi-bagger stock is with 600 people who are, or have been, part of the team</a> <a href="https://www.businessinsider.in/tech/news/the-india-stack-that-bill-gates-and-sundar-pichai-so-love-is-set-to-get-much-bigger-thanks-to-the-indian-governments-new-blockchain-strategy/articleshow/80718403.cms">The India stack that Bill Gates and Sundar Pichai so love is set to get much bigger – thanks to the Indian government’s new blockchain strategy</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-new-flagship-smartphone-expected-price-specification-and-launch-date-leaked/articleshow/80742720.cms">This could be the next OnePlus flagship smartphone</a>

Masayoshi Son says China's crackdown on Alibaba is nothing different than antitrust regulations in US or UK

<ul><li><keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> today posted a whopping $11.1 billion net profit between Oct and Dec 2020, thanks to the performance from his Vision Fund.</li><li><keyword id="357983" type="PERSON" weightage="20" keywordseo="Masayoshi-Son">Masayoshi Son</keyword> said that SoftBank was like the goose that turned regular eggs into golden goose eggs and even broke into a little dance during his presentation.</li><li>SoftBank Vision Fund will now focus on AI (artificial intelligence) revolution, he said.</li></ul>Over the years, it’s not just SoftBank’s earnings reports that everyone waits for but also its founder Masayoshi Son’s quirky slides. If, in May 2020, Son’s slide about flying unicorns took the tech world by surprise, this time there was a little dance from Son himself, as he spoke of Softbank as the goose that laid golden eggs. SoftBank today posted a roaring $11.1 billion net profit in the third quarter thanks to the Vision Fund’s performance. During the last quarter, SoftBank sold over $2 billion worth stocks in Uber and also saw its companies like DoorDash going for an IPO. Those who track the company would have expected this but not followed it. <div type="twitter" handle="natfukue" handlename="Natsuko Fukue" image="http://pbs.twimg.com/profile_images/1016834487257202688/jh9rfX3E_normal.jpg" favoritecount="27" retweetcount="9" status="Masayoshi Son and dancing golden eggs🥚🥚🥚 https://t.co/lJVw0uletG" createdat="1612773340000" id="1358695984235094016"></div> Just as Son called Softbank as the “producer of golden eggs”, he broke into a dance. This isn’t the first time Son has used the goose and golden eggs analogy. He has described the Japanese investment firm’s portfolio in a similar manner first in <a href="https://www.ft.com/content/6c77fffa-7ba6-11e4-a695-00144feabdc0?ftcamp=published_links%2Frss%2Fcompanies%2Ffeed%2F%2Fproduct">2014</a> and then again in 2017. However, this was his first dance during an earnings conference. In May 2020, Son had referred to flying unicorns as companies from SoftBank’s portfolio which will be able to survive the COVID-19 pandemic. <div type="image" title="valley of coronavirus" msid="80750390" hostid="261" caption="&amp;lt;p&amp;gt;SoftBank&amp;#39;s famous flying unicorn slide from May 2020&amp;lt;/p&amp;gt;"></div> The companies that Son described as golden eggs are not founded by Softbank. It only funds them. This additional capital, and “a bigger vision” for the Softbank-funded firms, are the “turbochargers”, as Son put it, which turn a regular white egg into a golden one. <div type="image" title="sb2" msid="80750412" hostid="261"></div> Going forward, the SoftBank Vision Fund will focus on AI (artificial intelligence) revolution. “The biggest evolution is AI, the greatest advancement created by humankind,” said Son. SEE ALSO: <a href="https://www.businessinsider.in/international/news/masayoshi-son-says-china-crackdown-on-alibaba-is-nothing-different-than-antitrust-regulations-in-us-or-uk/articleshow/80749653.cms">Masayoshi Son says China's crackdown on Alibaba is nothing different than antitrust regulations in US or UK</a> <a href="https://www.businessinsider.in/business/news/indiamart-employees-hit-gold-founder-dinesh-agarwal-reveals-that-15-of-the-multi-bagger-stock-is-with-600-people-who-are-or-have-been-part-of-the-team/articleshow/80743945.cms">IndiaMart employees hit gold⁠— founder reveals that 15% of the multi-bagger stock is with 600 people who are, or have been, part of the team</a>

You Searched For "Indiamart IPO" and got 10 results

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