<img class="gwt-Image" src="/photo/47644593.cms" />The Indian <keyword id="44309" type="POSITION" weightage="80" keywordseo="High-Commissioner">High Commissioner</keyword> has asked the small and medium enterprises (SMEs) in <keyword id="6356662" type="COUNTRY" weightage="60" keywordseo="Singapore">Singapore</keyword> to make investment in sectors such as automobiles, pharma, chemicals and textiles to boost <keyword id="6395867" type="UNKNOWN" weightage="80" keywordseo="manufacturing-sector">manufacturing sector</keyword> and create more job opportunities in India under the ‘<keyword id="6354869" type="UNKNOWN" weightage="80" keywordseo="make-in-India">Make in India</keyword>’ programme, according to a PTI report. Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>'s ‘Make in India’ initiative is designed to strengthen the manufacturing sectors in the country through 25 sectors, said Indian High Commissioner to Singapore <keyword id="1699369" type="UNKNOWN" weightage="80" keywordseo="Vijay-Thakur-Singh">Vijay Thakur Singh</keyword>. Speaking at the opening of the ‘Make in India’ <keyword id="135771" type="ORGANIZATION" weightage="80" keywordseo="global-business">Global Business</keyword> Summit 2015, Singh said, "As Singapore companies internationalise to build scale, access new markets and customers, India can be the new location for manufacturing for Singapore companies," Singh said at the opening of the ‘Make in India’ Global Business Summit 2015. 

	Singapore companies would find Indian SMEs cooperative and good partners. “In fact time is right for the quantum jump in our economic relationship,” the High Commissioner said. 
 

	Elaborating on the strength of the Indian SMEs, Singh pointed out that the sector has generated growth of 10% per annum in recent years. 
 

	"This new wave of SMEs would…be creating an ecosystem that would be gear to delivery of right products, right quality, the right solutions and the right service at competitive prices for both in the domestic and international markets," she added. 
 

	Emphasising on bilateral relations between Singapore and India, she said Singapore is an important destination for Indian businesses, trade as well as Indian students and tourists. 
 

	Referring to the five decades of diplomatic relations between the two countries, Singh said, "The 50 year milestone is an opportunity to celebrate and to build on the already strong base of our relationship to yet a further level." 
 The summit was organised by the Singapore-based <keyword id="2896987" type="UNKNOWN" weightage="80" keywordseo="Prospur-Events-Pte-Ltd-">Prospur Events Pte Ltd.</keyword> It was attended by about 200 businessmen with India represented by a delegation led by the <keyword id="889977" type="UNKNOWN" weightage="80" keywordseo="National-Small-Industries-Corporation-Ltd">National Small Industries Corporation Ltd</keyword>, headed by chairman and managing director <keyword id="198631" type="PERSON" weightage="80" keywordseo="Ravindra-Nath">Ravindra Nath</keyword>. 
	(Image: Reuters)

India encourages Singapore to boost ‘Make in India’

<ul class="summary-list"><li>A cargo ship collided with Baltimore's Francis Scott Key Bridge on Tuesday, causing it to collapse.</li><li>The same ship was involved in a crash in Antwerp, Belgium, in 2016.</li></ul>The container ship that collided with <a target="_blank" href="https://www.businessinsider.com/livestream-video-francis-scott-key-bridge-ship-crash-maryland-2024-3">Baltimore's Francis Scott Key Bridge</a> was involved in another crash in 2016.The Dali, a Singapore-flagged ship, crashed into the bridge early on Tuesday, knocking its whole span into the Patapsco River.It was not immediately clear whether anyone was hurt or killed, but authorities declared the collapse a mass-casualty event.<div type="image" title="baltimore bridge" height="1378" width="2808" msid="108795721" hostid="261" sizebytes="115906"></div>It wasn't immediately clear why the Dali crashed.ABC News, citing US officials, <a target="_blank" href="https://abcnews.go.com/US/live-updates/baltimore-key-bridge-collapse/ship-lost-propulsion-warned-of-collision-cisa-report-says-108501855?id=108500215">said that the Dali lost propulsion</a> soon before hitting the support pillar. Livestream video viewed by Business Insider showed the ship's lights cutting out shortly before impact.It is not the first time the Dali has hit something.The ship was involved in another collision in July 2016, the year after it was built.Maritime blogs, including <a target="_blank" rel=" nofollow" href="https://shipwrecklog.com/log/2016/07/dali/">Shipwreck Log</a> and <a target="_blank" rel=" nofollow" href="https://www.vesselfinder.com/pro/map#article/6675-VIDEO-Mega-container-ship-Dali-Allided-with-berth-at-Port-of-Antwerp">VesselFinder, </a>posted videos of the stern of the same container vessel scraping against a quay in Antwerp, Belgium.The facts here are still murky — but spotting any warning signs or patterns in the ship's past could help explain what went wrong, and how to avoid similar accidents in the future.VesselFinder reported that the incident was caused by a mistake made by the master and pilot on board. No injuries were reported, however, there was damage to the stern, the blog post said. The aftermath of the collision was shared on YouTube by <a target="_blank" href="https://www.youtube.com/watch?v=R0g7CGvnPxs">ZP Videos</a>.A spokesperson for the Port of Antwerp confirmed to Business Insider that the Dali did collide with the quay there in 2016.However, the person said they "can't give any information about the cause of the accident."The ship has appeared to change ownership after the 2016 crash, VesselFinder reported.In the 2016 video the ship had its home port marked as Majuro in the Marshall Islands.Its registration later changed to Singapore, as seen in an<a target="_blank" href="https://www.fleetmon.com/vessels/dali_9697428_9635332/photos/2077069/"> image taken in 2018.</a>It is currently owned by Grace Ocean Pte Ltd. and is managed by Synergy Marine Group,<a target="_blank" href="https://www.reuters.com/world/us/16-mile-bridge-baltimore-collapses-after-ship-collision-fox-baltimore-reports-2024-03-26/"> Reuters</a> reported. It had been chartered by the shipping giant Maersk, and its next stop was Colombo, Sri Lanka.In a statement sent to Business Insider, Maersk said it was "horrified" at the crash. It said the Dali was carrying Maersk cargo but that none of its staff were on board.

The ship that caused the Baltimore bridge collapse also crashed in a European port in 2016

<keyword id="125045" type="General" weightage="50" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword> on Wednesday said it has revised the outlook on <keyword id="2981241" type="General" weightage="50" keywordseo="oravel-stays" source="Orion">Oravel Stays</keyword> Ltd's (<keyword id="2808667" type="General" weightage="100" keywordseo="oyo" source="Orion">OYO</keyword>) long-term foreign- and local-currency issuer default ratings to 'positive' from 'stable', while affirming the ratings at 'B-'. The ratings agency also said it has affirmed the rating on the USD 660-million senior secured term loan facility due 2026, issued by OYO's fully owned subsidiary, Oravel Stays Singapore Pte Limited, at 'B-'. "The outlook revision reflects our view that OYO is on track to generate positive EBITDA and cash flow from operations (CFO) sustainably. This follows positive EBITDA in every quarter of the financial year ended March 2023 (FY23), which is the first year of profits since OYO's incorporation in 2012," <keyword id="82981" type="General" weightage="80" keywordseo="fitch" source="Orion">Fitch</keyword> Ratings said in a statement. It further said, "We expect significant growth in its EBITDA in FY24, led by an ongoing demand recovery in the travel and tourism industry, the company's stable gross margins, and reduction in operating costs." The rating reflects OYO's asset-light business model "that benefits from minimal capex needs, largely exclusive distribution rights, pricing control over storefront inventory, fixed revenue share and strong long-term growth potential", it added. "The business profile's strengths are mitigated by the sector's high competitive intensity and demand cyclicality. The rating also reflects OYO's adequate liquidity," Fitch said. The ongoing demand recovery in the industry is expected to drive revenue growth of over 20 per cent, it said, adding, "we also expect OYO's operating leverage to benefit from a sustained reduction in costs and drive high single-digit EBITDA margins in FY24." On improved cost structure, Fitch said, "We expect the cost-reduction measures OYO undertook in recent years to support its improving profitability in FY24. We believe such reductions will not affect growth, as it has increased its business development staff to prioritise storefront additions." The ratings agency also said it estimates that "OYO's unrestricted cash at FYE23 is sufficient to fund its Fitch-estimated free cash flow deficit of around USD 7 million and annual debt repayment of around USD 6 million in FY24". However, it said, "a greater cash burn than we expect could weaken OYO's liquidity. Any potential default of the debt outstanding at one of OYO's shareholding entities owned by the founder may be a reputational risk and affect OYO's operations, and we treat this as an event risk." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/suvs-car-with-the-longest-waiting-period-in-india/slidelist/100649287.cms">Mahindra Thar, Tata Nexon and more: SUVs with the longest waiting period</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/centres-fiscal-deficit-for-2022-23-at-6-4-of-gdp-cga-data/articleshow/100649200.cms">Centre's fiscal deficit for 2022-23 at 6.4% of GDP: CGA data</a>

Fitch Ratings revises outlook on OYO's long-term issuer ratings to 'positive' from 'stable'

<keyword id="58959" type="General" weightage="20" keywordseo="foreign-investors" source="Orion">Foreign investors</keyword> have upgraded <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> as a dedicated allocation in their investment portfolios given the strong economy, stable government and significant reforms undertaken over the last eight years, equity experts have said. According to the experts, who participated in Futures Industry Association (FIA) Asia trade conference held in Singapore from November 29 to December 1, investment is flowing into India's growth story. Previously, the investors had grouped India within emerging markets and comparatively only China was a "dedicated allocation" emerging market, according to Anant Jatia, Founder &amp; CIO at Greenland Investment Management LLP in Mumbai. "Investment is flowing into India's Growth Story. We see investments being redirected as FPIs reposition their dollars amidst uncertainties in China," Jatia told PTI on the sidelines of FIA Asia 2022. "We are seeing the current pickup gaining momentum as FPIs have turned net buyers of India with over USD 5 billion coming in over November and early December relative to the USD 23 billion they pulled out over the first ten months of 2022," Jatia added. He said that the flip is impressive considering the cost of liquidity has gone up significantly with the Fed Funds Rate, currently at 3.83 per cent, slated to rise an additional 50 basis months this month. Sunil Sachdeva, a Singapore-based stock market expert with focus on Indian equities, said that the Indian stock markets have shown good resilience in recent months, and hit a new growth trajectory though some of the leading global markets are down by 15-20 per cent due to the economic uncertainties. "This resilience has come from good Government regulatory reforms, RBI's sharp eye on the economy with supportive policies and a good level of domestic consumption," Sachdeva, who is also the Treasury Director of Safron Pte Ltd, a family office based in Singapore, said. "The Indian markets have entered into a new trajectory. The Indices are at an all-time high," he said. Sachdeva said this is just a start of a multi-year growth cycle and it is time to stay invested. "We have seen very large interest in India as a market at the FIA event here and everyone wants a pie of Indian stocks. International and domestic investors want to be part of the Indian Growth Story," he said. A few months back, there was a confusion among international investors as to where to invest when comparing India with China. "In China, the valuation looks very good but definitely there are COVID-related uncertainties," Sachdeva underlined. He said in India there is a political certainty attracting the investments, stability and the Government policies look good. "Funds through Foreign Portfolio Investors are flowing into India. Today, India has over 10 crores of dematerialized (demat) accounts. Just imagine the growth potential, if the demat accounts grow to 20-30 crores in the coming decade," said Sachdeva. Domestic investors are moving their low-interest rate fixed deposits from banks to the higher return stock market, where major industrial sectors, such as listed companies from infrastructure, auto and banks have reported a good level of profitability in the second quarter. India equities have outperformed international markets. "We are seeing Indian equities growing 7 per cent year on year return while comparatively the US markets are down 14 per cent," he said. Sachdeva believes the Indian equity market could grow up to 5-8 per cent year on year. Sachin Gupta, who is the CEO of Noida-based firm Share India, said that the India Growth Story will be intact for the next 10 years as people's participation and views towards the market is very positive. "The Indian stock market is bullish because the economy is doing very well. As of now, we only have 3-4 per cent of the total population participating in the stock markets while the Government wants more citizen participation in this wealth generation trade," he said. There are a lot of people leaving fancy jobs at major Indian corporations and opting for trading in the stock market or becoming professional traders, he noted. Young professionals, in the 25-30 age group, and some of them from Tier-III cities, have started investing in the stock and shares. Gupta sees 20-25 per cent of the Indian population participating in the stock markets in the coming decade, up from 7 per cent of the total population that is now taking interest. Priyanka Sachdeva, who is a market analyst at Singapore's Phillip Nova Pte Ltd, said strong domestic demand and government are pushing the manufacturing sector in a bid to make India more self-reliant and reduce import dependability add additional sheen to the bullishness to Indian equities against entire global mayhem. But she also cautioned, "Going into 2023, Indian equity growth can receive a mild blow as foreign portfolio investor (FPI) flows might weaken slightly for India and instead shift to China, as prospects of its economy fully re-opening post-COVID by next year." Meanwhile private sector capex likely will pick-up, strong earnings momentum continues and demand conditions are expected to stay strong, said the Singapore-based stock market analyst. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/postpartum-depression-in-mothers-can-have-serious-consequences-on-the-childs-health-and-development/articleshow/95946346.cms">Postpartum depression in mothers can have serious consequences on the child’s health and development</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-15-features-roundup-ultra-variant-solid-state-buttons-usb-type-c-port-and-more/articleshow/95820166.cms">iPhone 15 features roundup – Ultra variant, solid-state buttons, USB Type-C port, and more</a>

Foreign investors upgrade India as dedicated allocation in investment portfolios, say equity experts

<ul><li><keyword id="10858430" type="General" weightage="20" keywordseo="nykaa-ipo" source="Orion">Nykaa IPO</keyword> will open for subscription between October 28 and November 1, with a price band of ₹1,085 to ₹1,125.</li><li>The beauty and fashion ecommerce platform intends to raise ₹5,352 crore through this public issue.</li><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> intends to use this capital for repayment of loans, acquisition of business and marketing expenses.</li></ul>Nykaa’s initial public offering (IPO) is the most sought after event in the startup ecosystem, right after the blockbuster debut of Zomato in July. The IPO will open for subscription between October 28 and November 1, with a price band of ₹1,085 to ₹1,125. An investor will have to subscribe to a minimum of 12 shares. The anchor placement will open today (October 27). <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Events </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October 28 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 1 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Basis of allotment </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 8 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 9 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr></tbody></table>Source: Angel Broking The beauty and fashion ecommerce platform — which comes under FSN E-commerce Ventures — intends to raise ₹5,352 crore. Nearly ₹630 crore will be raised through fresh issue of shares. According to Nykaa’s red herring prospectus, 17 investors — both institutional and individuals — would sell 4.3 crore equity shares as part of this IPO. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shareholders </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Offered shareholding </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sanjay Nayar Family Trust* </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Up to 4,800,000 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TPG Growth IV SF Pte. Ltd </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Up to 5,421,510 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Lighthouse India Fund III, Limited </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Up to 4,844,620 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Lighthouse India III Employee Trust </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Up to 51,530 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Yogesh Agencies &amp; Investments Private Limited </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Up to 2,538,450 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">J M Financial and Investment Consultancy Services Private Limited </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Up to 914,000 </td></tr></tbody></table>Source: Nykaa’s RHP Nykaa intends to use this capital for acquisition of customers as well as new businesses. Besides this, the company plans to increase its international presence by foraying into the <a href="https://www.businessinsider.in/business/news/soon-to-be-listed-nykaa-plans-to-expand-to-middle-east-and-the-uk/articleshow/87257541.cms">Middle East as well as the United Kingdom</a>, before stepping into Europe. A part of these issues will also be used by Nykaa to set up <a href="https://www.businessinsider.in/business/news/ipo-bound-nykaa-plans-to-set-up-more-retail-stores-and-warehouse-for-ecommerce/articleshow/87274137.cms">more retail stores and warehouses </a>to promote its ecommerce business. The company will use ₹156 crore to repay its debts and ₹234 for marketing expenses, as per the RHP. SEE ALSO <a href="https://www.businessinsider.in/business/news/ipo-bound-nykaa-plans-to-set-up-more-retail-stores-and-warehouse-for-ecommerce/articleshow/87274137.cms">Nykaa plans to go ‘aggressive’ with its retail store network, a vertical that contributes less than 10% to its revenue</a> <a href="https://www.businessinsider.in/business/startups/news/amazon-backed-office-shuttle-service-shuttl-finds-a-saviour-in-chalo/articleshow/87278431.cms" data-type="tilCustomLink">Amazon-backed office shuttle service Shuttl finds a saviour in Chalo</a> <a href="https://www.businessinsider.in/stock-market/news/tech-mahindra-irctc-tata-power-are-bucking-the-trend-in-volatile-market/slidelist/87271983.cms" style="">Tech Mahindra flies on strong revenue, Tata Power excites investors with EV push and IRCTC back on track after a lull week</a>

Nykaa’s IPO to open tomorrow — check last date, listing date and more

New Delhi, Dec 15 () To increase flow of Indian tourists to Singapore, the Southeast Asian country's leading tourism firm One Faber Group (1FG) on Sunday said it has roped in Delhi-based ISA Tourism as its India market representative to expand its business.
 ISA Tourism Pvt Ltd, a boutique sales and marketing representation company for the hospitality and tourism industries, will focus on building 1FG's brand awareness among Indian travellers, particularly new-evolving tourists like young professionals, solo travellers and female travel groups, according to a statement by ISA Tourism.
 "India continues to be one of our priority markets and the appointment of ISA Tourism as market representative will allow more Indian tourists to discover our variety of memorable lifestyle experiences and embark on a delightful escapade with us," said One Faber Group Managing Director Buhdy Bok in the statement.
 Highlighting that India continues to be one of the top-three markets for the Singapore tourism industry, ISA Tourism Director Manas Sinha said in the statement, "This also reflects 1FG's growing enthusiasm and interest in the Indian market. We look forward to introducing more Indian guests to the One Faber Group brand and their amazing products and services."
 One Faber Group is one of Singapore's leading operators of a suite of leisure and lifestyle services, including attractions, guided tours, event venues, souvenir and lifestyle outlets as well as F&amp;B operations.
 Its impressive portfolio of products and services include the Singapore Cable Car, Wings of Time, Faber Peak Singapore, Arbora, Dusk Restaurant &amp; Bar, Good Old Days, 100M Private Dining, Show Bites, FUN Shop and Cable Car Gift Shop.
 Spanning across the hilltop at Mount Faber and Sentosa Island, One Faber Group's products are linked by the Singapore Cable Car Sky Network of six stations on two main lines -- the Mount Faber Line that connects mainland Singapore to the resort island of Sentosa, and the Sentosa Line that connects to the island's western end at the Siloso Point.
 Its legal name remains as Mount Faber Leisure Group Pte Ltd, which is a wholly-owned subsidiary of Sentosa Development Corporation and operates as an autonomous commercial arm.
 In line with the Singapore Cable Car's 45th anniversary this year, 1FG has also launched a year-long line-up of activities, events, promotions and food and beverage creations until April 2020.
 The main highlight of the activities is a multimedia night show called Miraculous 2 at Faber Peak. It is complimentary for all cable car riders and diners at Faber Peak. Additionally, Arbora, a family restaurant at Faber Peak, has been completely redesigned, while the Singapore Cable Car Gift Shop has also been given a complete makeover. KKS HRS

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India encourages Singapore to boost ‘Make in India’

BI India Bureau

The ship that caused the Baltimore bridge collapse also crashed in a European port in 2016

Mikhaila Friel

Fitch Ratings revises outlook on OYO's long-term issuer ratings to 'positive' from 'stable'

PTI

Foreign investors upgrade India as dedicated allocation in investment portfolios, say equity experts

PTI

Nykaa’s IPO to open tomorrow — check last date, listing date and more

Kritti Bhalla

Singapore's 1FG eyes Indian tourists, engages Delhi-based ISA Tourism as India representative

PTI