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Forty Indian corporates raised ₹59,412 crore through main board IPOs in calendar year 2022, half of the ₹1,18,723 crore (all-time high) mobilised by 63 IPOs in 2021, according to <keyword id="198574" type="General" weightage="80" keywordseo="prime-database" source="Orion">PRIME Database</keyword>, India's premier database on the primary capital market. According to <keyword id="1862725" type="General" weightage="80" keywordseo="pranav-haldea" source="Orion">Pranav Haldea</keyword>, Managing Director, PRIME Database Group, ₹20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone. Overall public equity fundraising also dropped by 55% to ₹90,995 crore from ₹2,02,048 crore in 2021. The largest IPO in 2022, which was also the largest Indian IPO ever, was from Life Insurance Corp.of India. This was followed by Delhivery (₹5,235 crore) and <keyword id="236770" type="General" weightage="80" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> (₹3,600 crore). The average deal size was a high ₹1,485 crore. According to <keyword id="3517398" type="General" weightage="80" keywordseo="haldea" source="Orion">Haldea</keyword>, as many as 17 out of the 40 IPOs, or nearly half, came in the last two months of the year alone, which shows the volatile conditions prevalent through most of the year which are not conducive for IPO activity. Only 1 out of the 40 IPOs (Delhivery) was from a new age technology company (NATC) (in comparison to 7 NATC IPOs raising in ₹42,826 crore in 2021) pointing towards the slowdown in IPOs from this sector. The overall response from the public, according to Prime Database, was moderate. Of the 38 IPOs for which data is available presently, 12 IPOs received a mega response of more than 10 times (of which 2 IPOs more than 50 times) while 7 IPOs were oversubscribed by more than 3 times. The balance 19 IPOs were oversubscribed between 1 to 3 times. The new HNI segment (Rs2- 10 lakh) saw an encouraging response with 11 IPOs receiving a response of more than 10 times from this segment. In comparison to 2022, the response of retail investors also moderated. The average number of applications from retail dropped to just 5.92 lakh, in comparison to 14.25 lakh in 2021 and 12.77 lakh in 2020. The highest number of applications from retail were received by LIC (32.76 <keyword id="6359802" type="General" weightage="80" keywordseo="lakhs" source="Orion">lakhs</keyword>) followed by <keyword id="6813155" type="General" weightage="80" keywordseo="harsha-engineers" source="Orion">Harsha Engineers</keyword> (23.86 lakhs) and Adani Wilmar (18.96 lakhs). The amount of shares applied for by retail by value (Rs 46,437 crore) was 22 per cent lower than the total IPO mobilisation (in comparison to being 42 per cent higher in 2021) showing the lower level of enthusiasm from retail during the period. The total allocation to retail, however, was ₹16,837 crore which was 28 per cent of the total IPO mobilisation (up from 20 per cent in 2021). According to Haldea, IPO response was further muted by moderate listing performance. Average listing gain (based on closing price on listing date) fell to 10 per cent, in comparison to 32.19 per cent in 2021 and 43.82 per cent in 2020. Of the 38 IPOs which have got listed thus far, 17 gave a return of over 10 per cent. DCX Systems gave a stupendous return of 49 per cent followed Harsha Engineers and Hariom Pipe Industries (47 per cent each). Twenty-three of the 38 IPOs are trading above the issue price (closing price of December 30, 2022). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zomato-irctc-zee-entertainment-among-stocks-in-focus-on-tuesday/articleshow/96697684.cms">Sensex, Nifty50 likely to open in red amid weak global cues; Zomato, IRCTC, Zee Entertainment among stocks in focus</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/psu-general-insurance-unions-call-off-their-jan-4-strike/articleshow/96698322.cms">PSU general insurance unions call off their Jan 4 strike</a>

IPO fundraising in India halves in 2022

<keyword id="12388125" type="General" weightage="20" keywordseo="Adani-Sportsline" source="Orion">Adani Sportsline</keyword>, a part of the <keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword>, on Monday made a foray into franchise cricket by acquiring the rights to own and operate a franchise in <keyword id="12599357" type="General" weightage="20" keywordseo="UAE-T20-League" source="Orion">UAE T20 League</keyword>. Licensed by the Emirates Cricket Board, the UAE T20 League will be an annual event that will feature six teams competing in a 34-match event. Top players from all the cricket-playing nations are expected to be in the line-up of different teams. The league will also provide a platform to upcoming cricketers. This will be the first major move overseas by Adani Sportsline that will "connect and engage with global fans" from across the cricketing nations. "It is a proud moment for us to announce the Adani Group's association with the UAE's T20 League as a franchise team owner. This acquisition fits perfectly in the group of corporates who have already acquired franchise team rights in the league. The trust shown by the Adani Group augurs well for the league and we look forward to benefitting from their business acumen and working together to make our league successful," Khalid Al Zarooni, UAE's T20 League chairman said. "We are excited to be part of the UAE T20 league," said Pranav Adani. "The UAE is an amazing amalgamation of several cricket-loving nations. It provides an excellent platform for enhancing the visibility of cricket as the sport goes increasingly global. Our presence here is also a great base for the Adani brand that is contributing significantly to the sports ecosystem in India through leagues such as boxing and kabaddi, and nurturing sporting talent at the grassroots level through the Garv Hai initiative," he said. Reliance Industries Limited, Lancer Capital, GMR Group and Capri Global have acquired a team each in the UAE T20 League. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ril-tumbles-nearly-4-on-weaker-than-expected-profits-slowdown-in-retail-business-and-decline-in-jio-subscriber-additions/articleshow/91433432.cms">RIL tumbles nearly 4% on weaker than expected profits, slowdown in retail business and decline in Jio subscriber additions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/ongc-is-hiring-to-fill-over-900-posts-with-a-maximum-salary-of-98000-per-month/articleshow/91431033.cms">ONGC is hiring to fill over 900 posts with a maximum salary of ₹98,000 per month</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/snacks-health-bills-electricity-bills-and-more-will-add-to-your-chunkier-home-loan-emis/articleshow/91429752.cms">Snacks, health bills, electricity bills and more will add to your chunkier home loan EMIs</a>

Adani Group acquires franchise in UAE T20 League

<keyword id="12534811" type="General" weightage="80" keywordseo="legends-league-cricket" source="Orion">Legends League Cricket</keyword> on Thursday announced that <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword>, and <keyword id="46306" type="General" weightage="80" keywordseo="gmr-group" source="Orion">GMR Group</keyword> had acquired franchises in the competition. This will be <keyword id="6380521" type="General" weightage="100" keywordseo="gmr" source="Orion">GMR</keyword> Group's third investment in franchise cricket while this will be the second investment in T20 leagues for the Adani Group. Both groups had recently acquired teams in the UAE's ILT20, with GMR Group also being the co-owner of Delhi <keyword id="108696" type="General" weightage="80" keywordseo="capitals" source="Orion">Capitals</keyword> team in the Indian Premier League (IPL). The upcoming edition of the League is a four-team franchise model, which is a change from the three-team format in its last season. Recently, the league had announced that the upcoming season has been dedicated to the 75th year celebration of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s Independence and is being held in India from September 16 onwards, starting from a special match between India vs World as India Maharajas vs World Giants. "GMR has been in close relationship with the sport of cricket for nearly two decades now. Our relationship with cricket started with our IPL franchise Delhi Capitals. We then spread our Capitals universe with our First overseas team in the International League T20, with the Dubai Capitals and now in the <keyword id="12920317" type="General" weightage="80" keywordseo="legends-league" source="Orion">legends league</keyword>, we have tried to give our fans, who are like our family, some experiences that they will cherish for a long time." "What makes this association sweeter is the fact that Legends League Cricket will feature some of the best cricketers who have played a very definitive role in popularising this beautiful sport not only in every corner of India but globally as well." "To see them perform in India together for the first time is a dream come true for many fans including myself. These legends are the ones who shaped up our devotion and love for the sport and I cannot wait to see them in action again," said Kiran Kumar Grandhi, Managing Director, GMR Group. As per a recent announcement, LLC season two will be starting from the special match in Eden Gardens at Kolkata followed by games in Lucknow, New Delhi, Cuttack and Jodhpur. The Play-offs and finals are expected to be in Dehradun. "For those of us who have lived through different eras of cricket, nothing stirs our passions like watching our favourites back in action. These are giants of the game and there is no doubt that the spiritual home of Legends League Cricket is in India, in our fantastic cricket stadiums in front of our fantastic crowds. Make no mistake, this is competitive cricket at the highest level between teams that are playing to win." "Adani Sportsline is privileged to have the opportunity to own and manage one of the four teams in the Legends League. We are especially privileged because this inaugural season in this format is dedicated to Azadi Ka Amrit Mahotsav, celebrating the 75th year of India's independence. I cannot wait to see some of the greatest cricketers in the game's history doing what they do best," said Pranav Adani, Director - Adani Enterprises. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/sony-hikes-the-prices-of-playstation-5-by-up-to-10/articleshow/93774516.cms">Sony hikes the prices of PlayStation 5 by up to 10%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/hyundai-motor-opens-bookings-for-venue-n-line-suv-for-21000-ahead-of-its-launch/articleshow/93773926.cms">Hyundai Motor opens bookings for Venue N Line SUV for ₹21,000 ahead of its launch</a>

Adani Group, GMR Group acquire franchises in Legends League Cricket

Taiwanese multinational <keyword id="6380512" type="UNKNOWN" weightage="80" keywordseo="electronics">electronics</keyword> manufacturing company, <keyword id="6354671" type="COMPANY" weightage="80" keywordseo="Foxconn">Foxconn</keyword> and <keyword id="6367820" type="COMPANY" weightage="80" keywordseo="Adani-Group">Adani Group</keyword> might come together to establish at least four electronics manufacturing facilities in India, sources told TOI. 

	Earlier this month, top executives of Foxconn have visited Karnataka, Maharashtra, Andhra Pradesh and Gujarat to survey possible sites to set up manufacturing plants. 
 

	The Taiwanese company is best known for making Apple devices. 
 Sources in the Karnataka government told TOI that Vincent Tong Wen-Hsin, chairman and director of investments at FIH (Foxconn International Holdings) Mobile, and <keyword id="2920558" type="UNKNOWN" weightage="80" keywordseo="Calvin-Chih">Calvin Chih</keyword>, CEO of the company, had discussed the matter with the government. 

	"It could become a $5-billion investment. They visited some other states too. We are hoping that Karnataka's talent pool and fiscal incentives would make them decide to locate a facility here," a government official, who did not want to be named, told the daily. 
 When contacted, <keyword id="224639" type="PERSON" weightage="60" keywordseo="Pranav-Adani">Pranav Adani</keyword>, director in <keyword id="118623" type="COMPANY" weightage="80" keywordseo="Adani-Enterprises">Adani Enterprises</keyword> - the flagship company of the Adani Group - and nephew of Adani Group founder <keyword id="111343" type="PERSON" weightage="80" keywordseo="Gautam-Adani">Gautam Adani</keyword>, told TOI he had nothing to say. The Ahmedabad-based group is a multinational conglomerate with interests in commodities, logistics, agribusiness and energy. 

	In May, Foxconn group chairman Terry Gou told Reuters that the group was looking to develop 10-12 facilities in India, including factories and data centres by 2020. "A lot of our customers, especially Chinese customers, need us to manufacture ... in India, to make phones, tablets, TVs, as soon as possible," Gou had said. 
 

	A Karnataka government official said: "We are talking to Foxconn almost every week to get them to Karnataka. Under our mega projects policy, we can tailor-make incentives for them."
 

	Foxconn has already started working on a small facility in Andhra Pradesh’s Sri City that is likely to make around 10,000 phones a day, largely for Chinese brand Xiaomi. 
 In China, Foxconn makes phones for a number of global brands, including Apple, <keyword id="11148" type="CITY" weightage="80" keywordseo="Motorola">Motorola</keyword>, Huawei, <keyword id="6354356" type="COMPANY" weightage="80" keywordseo="BlackBerry">BlackBerry</keyword>, and Sony. The company is keen to manufacture in India for Indian and global brands. 
	 
	(Image: Reuters)

Foxconn, Adani coming together to produce electronics in India

<ul class="summary-list"><li>Gautam Adani plans to hand over the company to his sons and nephews by the early 2030s.</li><li>The Adani Group is a major player in multiple sectors in India, including infrastructure and energy.</li></ul>One of Asia's richest men said the next generation is ready to take over his sprawling company — but it won't happen for at least eight years.Gautam Adani, 62 years old, announced his intention to retire at 70 from the Adani Group, <a target="_blank" href="https://www.bloomberg.com/features/2024-adani-succession/?srnd=homepage-asia">Bloomberg</a> reported on Monday.Founded in 1988, the Adani Group has substantial interests in energy, logistics, and infrastructure and aims to make India "a significant player in sustainable energy, and self-reliant in defence and security," according to a <a target="_blank" href="https://www.adani.com/About-us/One-Vision-One-Team/Gautam-Adani">profile</a> on the company website.According to the Bloomberg Billionaires Index, Adani Enterprises, the group's main company, reported revenue of $11.6 billion in 2024, and Adani himself owns a 75% stake.Adani's retirement paves the way for his sons and nephews to take over the sprawling family conglomerate by the early 2030s. The transition will occur gradually, and Adani's successors will run the company collectively, he told Bloomberg.Most Asian family business leaders are not keen on retirement, leading to what family business professor Marleen Dieleman called "King Charles syndrome," where the next generation takes over past its prime. Gautam Adani stepping aside early is a positive sign, said Dieleman, who works at IMD Business School in Switzerland."It is good to see this level of planning and preparation," Dieleman told Business Insider.Karan Adani, Gautam's elder son, will oversee cement, ports, and logistics, while Jeet Adani, the younger son, will handle airports, digital ventures, and defense. Nephews Pranav and Sagar will manage consumer businesses, communications, energy, and finance. Adani has not yet announced a successor for chairman, Bloomberg reported.While Adani's public announcement of the transition sets a positive precedent for other family-run companies, the move would ideally come with safeguards against conflicts that might arise from having four leaders steering the company."This can be done by agreeing on the larger aspirational aspects of the family legacy rather than on the question of who gets what and what is fair," Dieleman told BI.Placing non-family experts in key positions is also crucial in bolstering the transition process. A company the size of the Adani Group requires several stages of leadership, "which comes from a mix of non-family and family professionals," said Dieleman.The leadership transition comes amid significant controversies for the company. In January 2023, the Adani Group was <a target="_blank" href="https://www.businessinsider.com/hindenburg-research-adani-group-explained-stock-crash-short-seller-profits-2024-7">accused</a> by Hindenburg Research, an activist short-seller investment firm, of financial misconduct, leading to a substantial decline in the company's market value. Additionally, the company was also investigated by the US Department of Justice for potential bribery involving Adani entities, which the company had denied, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-18/adani-says-report-on-bribery-probe-by-us-prosecutors-is-false">Bloomberg</a> reported in March. No charges have been filed.Adani's <a target="_blank" href="https://www.businessinsider.com/who-is-gautam-adani-indian-industrialist-billionaire-wealth-elon-musk-2022-12">wealth</a> surged in 2022 and made him the third richest person in the world at the start of 2023. However, following the allegations from Hindenburg Research, his fortune declined by more than a quarter. Adani currently sits at the 12th spot for richest person in the world, behind the richest man in Asia, <a target="_blank" href="https://www.businessinsider.com/ambani-richest-family-in-asia-india-lifestyle-home-wedding-photos-2018-12">Mukesh Ambani</a>, according to the Bloomberg Billionaires Index.The Adani Group did not respond to requests for comment.

Asia's second-richest man finally has a plan to hand over his company — but it's going to take a while

<ul class="summary-list"><li>Indian billionaire Karan Adani announced plans to challenge Chinese dominance in global seaports.</li><li>Adani Ports has received "in-principle" approval for a $2 billion project in Da Nang, Vietnam.</li></ul>Karan Adani, the <a target="_blank" class="" href="https://www.businessinsider.com/gautam-adani-succession-planning-sons-nephews-take-over-retirement-handover-2024-8">son of one of Asia's richest men</a>, wants to loosen China's grip on seaports and transform India into a major trading hub."We are working on making India the center point of the overall supply chain from east to west," said Karan in an interview with <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-08-05/adani-ports-aims-to-grow-india-into-global-trading-hub-in-challenge-to-china">Bloomberg</a> for their "Inside Adani" series.Karan, who is the CEO of Adani Ports, said that the company had received an "in-principle" from the Vietnamese government for a potential $2 billion greenfield project in Da Nang.This would be the latest addition to the Adani Ports' portfolio. In 2022, it <a target="_blank" class="" href="https://www.thehindubusinessline.com/economy/logistics/with-haifa-port-acquisition-adani-sets-its-eyes-on-opportunities-in-europe/article65643118.ece">won a joint bid</a> on the Israel government's tender to buy the Haifa Port for $1.2 billion.It also owns port assets in Colombo in Sri Lanka and the Port of Dar es Salaam in Tanzania.<h2 id="b168f51e-af17-4dfd-93ff-9422bbccd00f">Loosening China's grip</h2>India has long feared that China is surrounding its country with ports. The trade infrastructure in the Indian Ocean is often referred to as China's "string of pearls".China's <a target="_blank" class="" href="https://www.businessinsider.com/china-spends-twice-us-but-belt-road-initiative-losing-steam-2021-9">Belt and Road initiative</a> (also referred to as the New Silk Road) involves buying up multiple ports across the world to build a sea route running from the coast of China through the major transit route of the Indian Ocean and the busiest maritime points of the Middle East, and ending in Europe.<a target="_blank" class="" href="https://www.washingtonpost.com/world/interactive/2023/china-ports-trade-military-navy/">According to the Washington Post</a>, the majority of investments in Chinese-owned ports have been made by companies owned by the Chinese government, which would make the Chinese Communist Party the biggest operator of the ports that fuel global supply chains.The <a target="_blank" class="" href="https://www.cfr.org/tracker/china-overseas-ports">Council on Foreign Relations states</a> that China operates or has ownership stakes in at least one port in every continent except Antarctica. 92 out of the 101 ports were active as of 2023.The <a target="_blank" class="" href="https://www.ft.com/content/a7c2b2f6-e106-436d-a599-cfcc69d18b05">Financial Times</a> cited a report by the Qianzhan Industrial Research Institute stating that China invested at least $40bn in coastal port infrastructure between 2016 and 2021.It also showed that China has 76 port terminals able to support large ships carrying more than 14,000 20ft containers, while south and south-east Asian countries have just 31 between them.<a target="_blank" class="" href="https://www.fortuneindia.com/enterprise/adani-kerala-to-fast-track-vizhinjam-port-completion-with-rs-20000-crore-investment/117536">Fortune India reported</a> that so far, 75% of India's transshipped cargo is handled by ports outside the country.The Adani Group wants to change that.<h2 id="f5591fc4-d44e-43a5-90bb-81fe08ef0678">Making India the world's factory</h2>The company has openly aligned its business interests with Indian Prime Minister Narendra Modi's development agenda of making India the world's factory.Earlier this month, it welcomed the first mother ship in the first phase of its port in Vizhinjam harbor, a project undertaken with the state government of Kerala in India.Expected to reach completion in 2028, the seaport aims to handle up to half of India's container transshipment needs.According to the Bloomberg Billionaires Index, Adani Enterprises, the group's main company, reported revenue of $11.6 billion in 2024, and Karan Adani's father, Gautam Adani, owns a 75% stake.The 62-year-old is worth over $80 billion and <a target="_blank" class="" href="https://www.businessinsider.com/gautam-adani-succession-planning-sons-nephews-take-over-retirement-handover-2024-8">announced his succession plan</a> on Monday — naming his sons Karan and Jeet and nephews Pranav and Sagar as heirs to the Adani Group.The Adani family have previously faced scrutiny for their close ties to Modi, and allegations of preferential treatment from the Modi government.The Adanis frame the association as a desire to improve the country, with the Chairman's Message on the Adani Group website promising to "foray into sectors where the country needs to establish a foothold," and affirming that they will "look at these opportunities as part of our national duty."

An Indian billionaire has an audacious plan to take down part of China's economic masterplan

Top stocks: Here’s what the Big Boys bought between October and December

<ul><li>In the last six months, <a href="https://www.businessinsider.in/stock-market/news/12-equity-oriented-thematic-mfs-launched-in-the-last-6-months/slidelist/98900160.cms">12 new funds have been launched </a>in thematic schemes category with multinational companies (MNC) fund, <keyword id="347032" type="General" weightage="20" keywordseo="dividend-yield-fund" source="Orion">dividend yield fund</keyword> being and <keyword id="12557861" type="General" weightage="20" keywordseo="business-cycle-fund" source="Orion">business cycle fund</keyword> catching investor attention.</li><li>Such funds are popular as investors are looking for value creation across the board, beyond benchmark indices.</li><li>Such funds carry high risk and may not meet investor expectations of better returns in the long run, say experts.</li></ul><keyword id="917586" type="General" weightage="20" keywordseo="thematic-funds" source="Orion">Thematic funds</keyword> have created a buzz among investors given inflows into sectoral/thematic funds jumped more than three times from ₹903 crore in January, 2023 to ₹3,856 crore in February, 2023. In the last six months, <a href="https://www.businessinsider.in/stock-market/news/12-equity-oriented-thematic-mfs-launched-in-the-last-6-months/slidelist/98900160.cms">12 new funds have been launched </a>in thematic schemes category with multinational companies (MNC) fund, dividend yield fund being and business cycle fund catching investors attention. Such funds are popular because investors are looking for value creation options, across the board beyond benchmark indices. The fact that <a href="https://www.businessinsider.in/stock-market/news/back-to-square-one-nifty-circles-back-to-levels-last-seen-in-september-2021-markets-likely-to-end-2023-in-the-red/articleshow/98898424.cms">Indian markets have bled deeply </a>while underperforming global markets let investors look for sectors that are relevant in the current market situation. However, such funds carry high risk and may not meet investors expectations of better returns in the long run. “In recent months, performance of large and mid cap funds has not been optimal which can explain shifting investor interest towards alternate funds. We saw something similar a couple of years back when Indian investors invested heavily in international funds with an aim to get higher returns from indirectly investing in technology companies overseas. However, thematic funds are riskier in nature. So only a limited portion of portfolio allocation should be made in them,” said Pranav Haldea, MD at Prime Database Group. Thematic funds are investment funds focused on specific themes or trends. They invest in companies with specific themes like investing only in multinational companies, high paying dividend companies and so on to capitalize on growth opportunities and maximize returns. High risk thematic funds is a risky bet Meanwhile, since the sectors like PSU Banks and infrastructure have performed better in the volatile market, investors have been looking to invest in these categories. Also, the PSU Bank index emerged as the top sectoral winner in 2022, recording gains of nearly 73% – or about 16x the gains of the Nifty50 in 2022, as on December 15. “Some of the funds in categories like PSU/infrastructure/ and banking have done well, which naturally attracts more money from investors. In addition, there have been significant new launches, which creates buzz in the market and investors are enticed to invest,” said Dikshit Mittal, fund manager and senior equity research analyst at LIC MF Asset Management. Mittal also highlighted that the domestic banking sector is also in good shape as they have clean balance sheets, the growth runway is large, and valuations are reasonable. Infrastructure as a theme also seems to have a bright outlook considering government focus, budgetary allocations and resurgence of the manufacturing sector in India, says Mittal. Not to forget, thematic funds carry high risk so experts recommend investors to allocate only a part of their corpus to such funds. “In addition, thematic funds need timing to enter and exit so investors need to be agile in exiting these funds when their objective has been achieved,” said Mittal. Timing and theme of the fund is an important factor that derives the performance of the fund as if the theme goes wrong, investor returns will be hugely impacted. “The sudden popularity of thematic funds is largely driven by clients looking to invest in different pockets in the market. In this category, timings and wider themes are a challenging aspect to beat. Most of the existing funds have a narrow theme which ends up impacting their returns. We do not recommend thematic funds as it is not suitable for every investor,” said Kaustubh Belapurkar, director of fund research at Morningstar Investment Adviser India. As thematic funds revolve around a certain theme, they are much less diversified than other large cap equity funds that have a mix of large and mid cap stocks. Experts feel lack of diversification and high risk in thematic funds makes it not suitable for all kinds of investors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-stage-a-rebound-led-by-adani-enterprises-group-market-capitalisation-rises-by-22011-crore/articleshow/99084630.cms">Adani group stocks stage a rebound led by Adani Enterprises: Group market capitalisation rises by ₹22,011 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tax-hit-on-debt-funds-is-just-the-latest-punch-to-reeling-mutual-fund-companies/articleshow/99081740.cms">Tax hit on debt funds is just the latest punch to reeling mutual fund companies</a>

Can Thematic Funds Beat Market Blues? Time for a reality check amidst all the noise

<ul><li>According to Prime Database, IPO pipeline continues to remain strong for 2023. </li><li>The report says 54 companies received SEBI approval to collectively raise ₹84,000 crore.</li><li>Of the 87 companies in line to launch their IPOs (including those with SEBI approval and those awaiting approval) in 2023, eight are new-age tech companies.</li></ul>Initial public offerings (IPOs) have seen a pick up in the last two months of last year and the momentum is expected to continue in 2023, especially for IPOs that intend to raise around ₹500 to ₹1500 crore, says Prime Database. “The momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of lack of sustained interest from FPIs,” said Pranav Haldea, MD at Prime Database Group. The pipeline continues to remain strong for 2023 as the report says that 54 companies have received SEBI approval to collectively raise ₹84,000 crore. Another 33 companies looking to raise about ₹57,000 crore are awaiting SEBI approval. IPOs halved in 2022 from the previous year In 2022, 40 Indian corporates raised ₹59,412 crore through main-board IPOs, half of the all-time high of ₹1.19 lakh crore – mobilised by 63 IPOs – in 2021, according to Prime Database. A huge portion of the fund raised during the year came from LIC’s IPO, which raised ₹20,557 crore. Response from retail investors also moderated in 2022 as the average number of applications from retail dropped to just 5.92 lakh, in comparison to 14.25 lakh in 2021 and 12.77 lakh in 2020. However, retail investors showed exceptional interest in three IPOs – LIC (32.76 lakh) followed by Harsha Engineers (23.86 lakh) and Adani Wilmar (18.96 lakh). On the other hand, <keyword id="3704207" type="General" weightage="20" keywordseo="SME-IPOs" source="Orion">SME IPOs</keyword> nearly <a href="https://www.businessinsider.in/stock-market/news/small-is-the-new-big-sme-ipos-double-in-2022-while-mainboard-ipos-halve/articleshow/96618323.cms">doubled in 2022 </a>with a stellar performance. According to Prime Database, SME IPOs saw a huge increase in calendar year 2022 – with 109 SME IPOs raising a total of ₹1,874 crore in comparison to 59 IPOs in 2021 which collected ₹746 crore. The largest SME IPO was that of Rachana Infrastructure which had an issue size of ₹72 crore. Here are top five best-performing IPOs from 2022 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></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;">Name </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;">Issue price </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;">CMP </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;">Change </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;">Adani Wilmar </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;">₹230 </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;">₹586.60 </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;">155% </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;">Hariom Pipe Industries </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;">₹153 </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;">₹353 </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;">130% </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;">Venus Pipes &amp; Tubes </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;">₹326 </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;">₹724.50 </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;">122% </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;">Veranda Learning Solutions </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;">₹137 </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;">₹258.80 </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;">88% </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;">Prudent Corporate Advisory </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;">₹630 </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;">₹1031.10 </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;">63% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Poor investor interest for new-age tech companies The report highlighted that the issuance of new-age tech companies have slowed down after the 2021 chapter that saw several such companies receiving the highest subscription but making their stock market debuts with huge losses. While <a href="https://www.businessinsider.in/business/corporates/news/new-age-tech-companies-rake-in-business-but-are-still-making-losses/articleshow/95837559.cms">IPO subscriptions of </a>Nykaa, Zomato and Policybazaar were huge, they are now being punished for poor financial performance. Of the 87 companies in line to launch their IPOs (including those with SEBI approval and those awaiting approval) in 2023, eight are new-age tech companies, which are looking to raise roughly ₹29,000 crore. In 2022, only 1 – Delhivery – out of 40 IPOs in the year was that of a new-age tech company compared to seven such IPOs raising ₹42,826 crore in 2021, pointing to a slowdown in IPOs from this sector. Slowdown in promoter sell offs The report said that offers for sale (OFS) through stock exchanges, wherein promoters dilute their stake in a company, also saw a huge decrease to just ₹11,269 crore raised in 2022, from ₹22,912 crore raised in calendar year 2021. Only 14 out of the 40 IPOs that hit the market in 2022 had a prior PE/VC investor who sold shares in the IPO. Offers for sale by such PE/VC investors at ₹7,821 crore accounted for 13% of the total IPO amount. Offers for sale by private promoters at ₹8,623 crore accounted for 15% of the IPO amount while offers for sale by the government accounted for 35% of the IPO amount. On the other hand, the amount of fresh capital raised in <keyword id="12774099" type="General" weightage="20" keywordseo="IPOs-in-2022" source="Orion">IPOs in 2022</keyword> was ₹17,662 crore. Reminder: One week to go! Business Insider India’s MSME Exchange 2023 on January 18-19. You can register below and stay updated with the latest news and insights from industry leaders to business owners on all you need to know to future-proof your business. [Register here: <a href="https://www.businessinsider.in/msme-exchange-2023" style="">https://www.businessinsider.in/msme-exchange-2023</a>] Business Insider <a href="https://www.businessinsider.in/msme-exchange-2023">MSME Exchange 2023 - Business Insider presents virtual event in January 2023</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/pv-and-2w-sales-disappoint-in-december-but-stronger-growth-ahead-say-analysts/articleshow/96732246.cms">PV and 2W sales disappoint in December, but stronger growth ahead, say analysts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/peyush-bansal-and-aman-gupta-invested-1-crore-in-hoovu-know-all-about-this-floral-startup/articleshow/96730114.cms">Shark Tank India judges Peyush Bansal and Aman Gupta invest in Hoovu Fresh - Here’s all about this floral startup</a>

The IPO momentum will continue in 2023 at least for small IPOs: Prime Database

<ul><li>Just before suffering a cardiac arrest, <keyword id="153813" type="General" weightage="50" keywordseo="tulsi-tanti" source="Orion">Tulsi Tanti</keyword> had addressed the media announcing <keyword id="46212" type="General" weightage="20" keywordseo="Suzlon-Energy" source="Orion">Suzlon Energy</keyword>’s ₹1,200 crore rights issue.</li><li><keyword id="355997" type="General" weightage="100" keywordseo="tanti" source="Orion">Tanti</keyword> said the proceeds would be used to pay debt and interest, among other things.</li><li>He was known as one of the pioneers of renewable energy in India and bagged recognition from the United Nations, apart from others.</li></ul>Tulsi Tanti, the founder chairman and managing director of <keyword id="6440105" type="General" weightage="80" keywordseo="suzlon" source="Orion">Suzlon</keyword> Energy died late on October 1 due to a cardiac arrest. The 64-year-old Gujarat-based businessman is survived by his children Nidhi and Pranav. “With profound sadness, we inform you of the untimely demise of Tulsi R. Tanti, the Founder, the chairman and managing director, and one of the promoters of Suzlon Energy Limited on 1st October 2022. Shri Tanti suffered a cardiac arrest and passed away the same day,” Suzlon Energy said in a stock exchange filing. Tanti passed away soon after flying to Pune from Ahmedabad, where he was addressing the media to announce the opening of Suzlon Energy’s ₹1,200 crore rights issue, starting October 11. During the media briefing, Tanti had underlined that the proceeds of the rights issue would be used to repay debt and reduce interest liabilities, apart from meeting working capital and corporate requirements. Tanti was amongst the first in the industry to enter the renewable energy space. He founded Suzlon Energy in 1995 and the company now has 19.4GW wind energy capacity with a 33% market share in India. The company has its presence in 17 countries around the world, including R&amp;D centres in Germany, Netherlands, Denmark, among others. At the time, the renewable energy space was dominated by international players which offered expensive and complicated technologies. With the renewable energy industry taking off now – Adani and Ambani, India’s richest men, have committed billions of dollars to it – Tanti quipped that the time is now right, and that Suzlon entered the business two decades early. Tanti was also the chairman of Indian Wind Turbine Manufacturers Association, and was awarded ‘Champion of the Earth’ by the United Nations Environment Programme in 2009. He also won recognition as ‘Hero of the Environment’ by TIME Magazine in 2007, among others. Suzlon Energy had returned to stability in FY22 after a string of major losses in the years prior – it made a small profit in FY21, but reported over ₹4,200 crore cumulative loss in FY20 and FY19. The company nearly doubled its revenue in FY22 from FY21, and its interest expenses had gradually come down, bringing a major source of expense under control. The ₹1,200 crore rights issue is aimed at further paring the debt and easing the pressure on its balance sheet. It opens on October 11. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-5g-services-launched-in-eight-cities-the-entire-country-to-be-covered-by-2024/articleshow/94579199.cms">Airtel 5G services launched in eight cities, the entire country to be covered by 2024</a> <a href="https://www.businessinsider.in/business/telecom/news/pm-modi-on-indias-5g-launch-here-are-the-key-points-from-the-speech/articleshow/94581721.cms">PM Modi on India’s 5G launch – here are the key points from the speech</a> <a href="https://www.businessinsider.in/tech/news/jio-will-launch-5g-for-the-entire-country-by-december-2023-mukesh-ambani/articleshow/94579338.cms">Jio will launch 5G for the entire country by December 2023: Mukesh Ambani</a>

Suzlon Energy’s founder chairman Tulsi Tanti passes away due to cardiac arrest

<ul><li>Paytm, PB Fintech (Policybazaar), Cartrade Tech and many others are among IPOs that lost much of investors’ money after listing.</li><li>83 companies went public on stock exchanges since 2021.</li><li>Analysts say that retail investors should study the company profile, financials, corporate governance track record in comparison to their competitors before making a bet.</li></ul>In the last two years, 83 companies listed on stock exchanges and some of them have destroyed investor wealth. Investors have made fortunes by investing in IPOs since 2020, but some of them have destroyed wealth. Out of these companies, only 30 companies are trading below their issue price right now. The rest have remained true to investors. Paytm, PB Fintech (Policybazaar), Cartrade Tech and many others are among IPOs that lost much of investors’ money after listing. One thing common among some of these IPOs is that they are new-age companies with less industry track record to rely on. Here are top 10 IPOs that are highly below their issue price <table style="border-width: initial; border-style: none;"></colgroup><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;">Top 10 companies below their offer price </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;">% loss in market price from issue price </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;">One 97 Communications </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;">-68.80% </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;">Suryoday Small Finance Bank </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;">-68.85% </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;">Cartrade Tech </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;">-62.24% </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;">Fine Payments Bank </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;">-61.55% </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;">AGS Transact Technologies </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;">-54.34% </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;">PB Fintech </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;">-50.79% </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;">Krsnaa Diagnostics </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;">-47.58% </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;">Windlas Biotech </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;">-48.18% </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;">Glenmark Life Sciences </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;">-46.98% </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;">Rategain Travel Technologies </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;">-32.38% </td></tr></tbody></table> So the question is — what are the parameters that need to be checked before investing in an IPO? Analysts say retail investors should study the company profile, financials, corporate governance track record in comparison to their competitors before taking a bet. “Before investing in an IPO and to avoid major losses, retail investors need to study the company’s filings which are on public domain, look at their corporate governance practices, financials, debt levels, company’s performance in comparison to its peers, their issue price compared to listed peers share price,” Pranav Haldea, MD at Prime Database Group. He further said that a lot of new-age companies like Paytm, which do not have peers and are new to the investor eye, make it difficult to gauge their valuation. Even SEBI chairperson Madhabi Puri Buch has addressed the need for more clarity and details on IPO pricing. She urged IPO-bound companies to abide by regulations and sought out for more transparency, and better disclosures. The fact that shares of several companies have lost their ground post-listing raises the question on IPO pricing. SEBI <a href="https://www.businessinsider.in/stock-market/news/sebi-wont-interfere-with-ipo-pricing-process-says-sebi-chief-madhabi-puri-buch-but-favours-better-disclosures/articleshow/94176189.cms#:~:text=favours%20better%20disclosures-,SEBI%20won't%20interfere%20with%20IPO%20pricing%20process%20says%20SEBI,Buch%20but%20favours%20better%20disclosures&amp;text=SEBI%20chief%20Madhabi%20Puri%20Buch%20asked%20IPO%20bound%20companies%20to,of%20equity%20value%20since%20inception.">chief in her recent speech </a>said that the regulator has nothing to do with what price a company chooses for an IPO; but urged companies to disclose every piece of information before going public. “If the company coming to IPO three or six months ago has placed its equity with some party (assume private party) at ₹100. And now it wishes to come to the market at ₹450. No problem, we have nothing to say in that. However, expect you to disclose to the investor what accounts for the difference between ₹100 and ₹450. Explain what has changed from the time you placed equity,” said Buch at FICCI’s ‘Annual Capital Markets Conference’ event last month. “A good company with an expensive valuation makes it a bad investment, a bad company at a good valuation is also a bad investment,” said Haldea. Another route to invest in a newly-listed IPO is through a mutual fund. Edelweiss MF has a fund named ‘Edelweiss Recently Listed IPO Fund’ that invests in quality IPOs that have either recently listed or are going to list to capture listing and post-listing gains. Here are some parameters that the fund house run by Radhika Gupta, its MD &amp; CEO goes through, before investing in the company. <ul><li>Try to invest in new-age businesses that are getting listed in the Indian market.</li><li>We invest in companies across sectors with a bias towards small and mid-caps that promise growth.</li><li>We do not invest in weak businesses that can be highly impacted by market shocks</li><li>We maintain the portfolio’s liquidity to face undue market fluctuations and redemption pressures.</li></ul>While some companies have destroyed investor wealth, there are also those which have trebled it. Defence equipment maker Paras Defence &amp; Space Technologies is on top of the list as the stock price ran up 275% since its issue price. Its IPO was also one of the biggest blockbusters in the stock market as it gave stellar listing gains. The key is to choose the right IPO. Here are the top 10 companies that made the most money for investors since listing. <table style="border-width: initial; border-style: none;"></colgroup><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;">Top 10 companies </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;">% gain in market price from issue price </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;">Paras Defence &amp; Space Technologies </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;">275.37% </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;">Adani Wilmar </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;">209.50% </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;">Mtar Technologies </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;">176.95% </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;">Laxmi Organic Industries </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;">163.11% </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;">Veranda Learning Solutions </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;">142.33% </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;">Tatva Chintan Pharma Chem </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;">129.91% </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;">Rolex Rings </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;">126.83% </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;">Nureca </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;">123.15% </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;">Easy Trip Planners </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;">119.91% </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;">Devyani International </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;">117.05% </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/nifty50-valuations-remain-expensive-but-experts-are-divided-on-indias-growth-prospects/articleshow/94704195.cms">Nifty50 valuations remain expensive, but experts are divided on India's growth prospects</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/stock-markets-slide-with-the-rupee-and-weak-asian-markets/articleshow/94696114.cms">Stock markets slide with the Rupee and weak Asian markets</a>

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