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<ul><li><keyword id="8830896" type="UNKNOWN" weightage="20" keywordseo="Rossari-Biotech">Rossari Biotech</keyword> listed at ₹677.10 on the bourses, with an upside of 59% </li><li>The Mumbai-based speciality chemical maker, Rossari Biotech’s IPO, was subscribed 79 times, with non-institutional investors leading the charge.</li><li>The IPO was issued at a price band of ₹425.</li></ul>The ₹496 crore IPO of Rossari Biotech had a bumper listing today. The stock added nearly 16.4% in a few hours of its listing debut. The IPO was issued at a price band of ₹425, but it listed at ₹677.10, with an upside of 59% <div type="image" title="Copy of Rossari (1)" msid="77124535" hostid="261"></div> Its market cap rose to ₹3,981 crore. A total traded quantity of 18.36 lakh shares changed hands on BSE amounting to a turnover of ₹128.14 crore. The Mumbai-based speciality chemical maker, Rossari Biotech’s IPO, was subscribed 79 times, with non-institutional investors leading the charge, oversubscribing by almost 240 times. Non-institutional investors are those who bid more than ₹2 lakh in an IPO. The reason behind the bumper listing is the company's wide variety of customers ranging from FMCG and apparel to poultry and animal feed industries to companies that make home and personal care products. Some of the significant customers include HUL, Panasonic India, RSPL Ltd, IFB Industries Ltd. and Millennium Papers. <div type="Youtube" id="F5N4v_XPbR0" title="Rossari Biotech is hiring ⁠— and the company’s average salary is ₹10 lakh per year" thumbUrl="https://i.ytimg.com/vi/F5N4v_XPbR0/mqdefault.jpg"></div> SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/asian-paints-share-price-this-may-be-the-worst-summer-for-sales-and-profit/articleshow/77119613.cms" data-type="tilCustomLink"> Shareholders await Asian Paints’ account of a lost summer</a> <a href="https://www.businessinsider.in/finance/banks/news/indian-public-sector-bank-employees-get-15-wage-hike-and-performance-linked-incentives-after-three-years-of-waiting/articleshow/77114388.cms" data-type="tilCustomLink">Indian public sector bank employees get 15% wage hike and performance-linked incentives after three years of waiting</a>

Stellar listing for Rossari Biotech - stock price surges over 16% on listing day

<ul><li>The founders expect ‘manifold growth’ in the coming years and therefore are in the search for the right talent.</li><li>The current vacancies are in research and technical sales.</li><li>Rossari Biotech is setting up another manufacturing facility at Dahej in Gujarat with a proposed capacity of <a href="https://www.bloombergquint.com/ipos/rossari-biotech-ipo-heres-all-you-need-to-know">132 billion tonnes</a> per annum. </li></ul>The Mumbai-based speciality chemical maker Rossari Biotech is looking to hire more people as it expands its business post the initial public offering (IPO). For the uninitiated, this is a company that makes popular household products like Vim, Rin, and Surf for the brand owners like Hindustan Unilever, Dabur, and many more to name a few. According to <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms">analysts, the 23-year old company ⁠— which competes with the likes of BASF and Dow Chemicals ⁠— is poised for strong growth</a>. “We are a growing manifold, the need for our company is at the peak. We need human resources. So this is going to be a big focus for our company in future,” Sunil Chari Managing Director and Co-Founder at <a href="https://www.facebook.com/BusinessInsiderIndia/videos/286494852795378">Rossari Biotech told Business Insider.</a> Chari revealed that the company has an average salary package of more than ₹10 lakh, which is better in comparison to its peers. “It is mostly a knowledgeable workforce,” he said. According to him, at this moment, the company is looking for people in research and technical sales. “But, we will require people in HR. We will require people in the admin. We will require people in the factory. It will be a basket of posts,” he added. He said the company is cautious towards the capital at this moment and will hire every quarter based on its performance. “In this quarter we have plans of hiring some people. But the next quarter coming it depends on the growth,” he said. “In the last 3 months, we would have taken at least 15 people in the personal care segment at Dahej. We are one of the few people recruiting in these times. We see a good quarter. We see good growth for the entire industry this year. So, we are bullish on hiring,” he added. Currently, Rossari Biotech manufactures a majority of its products in its manufacturing facility at Silvassa. It is also setting up another manufacturing facility at Dahej in Gujarat with a proposed capacity of <a href="https://www.bloombergquint.com/ipos/rossari-biotech-ipo-heres-all-you-need-to-know">132 billion tonnes per annum</a>. Rossari Biotech’s ₹496 crore initial public offering has been subscribed nearly three times on Day 2 of the bidding process. The bidding will remain open till end of day (July 15) with a fixed price band of ₹423-425 per equity share. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/barbecue-nation-ipo-must-be-priced-the-same-way-as-its-menuvalue-for-money/articleshow/76961459.cms" data-type="tilCustomLink">Barbeque Nation IPO must be priced the same way as its menu—value for money</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-16-increase-leads-to-surge-in-infosys-share-price-too/articleshow/76973619.cms" data-type="tilCustomLink">Wipro share price 16% increase leads to surge in Infosys share price too</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

Rossari Biotech is hiring ⁠— and the company’s average salary is ₹10 lakh per year

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

<ul><li><keyword id="3519758" type="PERSON" weightage="20" keywordseo="route-mobile">Route Mobile</keyword> made a strong debut on the bourses on Monday, surging 105% over its initial public offer (IPO) price.</li><li>Route Mobile issued the IPO at a price band of ₹350, but it listed at ₹717 apiece. </li><li>Route Mobile’s total market cap rose to ₹3,980 crore at 10:05 am.</li></ul>The cloud communication platform services provider, Route Mobile, made a strong debut on the bourses on Monday, surging 105% over its initial public offer (IPO) price. The company had garnered a stellar response from investors in its ₹600-crore IPO, which closed on September 11 with a whopping oversubscription of 73.30 times. Investors who applied for the IPO are being rewarded with hefty gains. Route Mobile issued the IPO at a price band of ₹350, but it listed at ₹717 apiece, with an upside of 105%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IPOs this year </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Happiest Minds Technologies Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">138% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rossari Biotech Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Cards and Payment Services Ltd </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-12% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mindspace Business Parks </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.55% </td></tr></tbody></table> However, the weakness in the market weighed on the shares and it was trading 9% lower at ₹646 a piece at 10:12 am. <div type="image" title="Route Mobile" msid="78227918" hostid="261"></div> Route Mobile’s total market cap rose to ₹3,980 crore at 10:05 am. A total traded quantity of 10.31 lakh shares changed hands on BSE amounting to a turnover of ₹73.76 crore. The company will trade with the symbol of ‘ROUTE’ on the Indian stock exchanges. The bumper listing was already on the cards! After a strong debut of Happiest Minds Tech last week, Route Mobile was already expected to witness stellar listing. Its monopoly in the sector is something that makes the company stand out in the IPO rush. Ahead of its IPO, the company had already raised ₹180 crore from 15 anchor investors, including Goldman Sachs, Franklin Templeton Mutual Fund, and SBI Life Insurance, Kuwait Investment Authority, Vantage Equity Fund, and SBI Life Insurance, among others. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-seems-to-be-sticking-to-its-strengths-while-its-shareholders-want-jio-like-fireworks/articleshow/78222570.cms" data-type="tilCustomLink">Airtel seems to be sticking to its strengths while its shareholders want Jio-like fireworks</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-future-group-stocks-irctc-rites-sbi-bank-of-india-pnb-and-more/articleshow/78226309.cms" data-type="tilCustomLink">Top stocks to watch— Future Group stocks, IRCTC, RITES, SBI, Bank of India, PNB and more</a>

After Happiest Minds Tech, Route Mobile doubles the money invested in the IPO

<ul><li><keyword id="928516" type="COMPANY" weightage="20" keywordseo="Barbeque-Nation-Hospitality">Barbeque Nation Hospitality</keyword> has received market regulator SEBI’s approval to raise about ₹1,000-1,200 crore through an initial public offering. </li><li>The company is backed by private equity investor CX Partners and ace <keyword id="9574593" type="UNKNOWN" weightage="20" keywordseo="investor-rakesh-jhunjhunwala">investor Rakesh Jhunjhunwala</keyword>’s investment firm Alchemy Capital. </li><li>The promoters hold 60.24%, CX Partners owns 33.79% and renowned stock market investor <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>’s investment firm Alchemy Capital holds 2.05% in the company. </li></ul>One of India’s most popular barbeque joints is ready to sell shares in the market. And just like the patrons of the chain, who dig the<a href="https://www.tripadvisor.in/ShowUserReviews-g297687-d12850093-r599225012-Barbeque_Nation-Dehradun_Dehradun_District_Uttarakhand.html"> high-priced buffets</a>, the investors too will demand ‘value for money’. The market regulator, <keyword id="139797" type="COMPANY" weightage="20" keywordseo="The-Securities-and-Exchange-Board-of-India">the Securities and Exchange Board of India</keyword> (SEBI), has approved the company’s plan to raise ₹1,000-1,200 crore through an initial public offering. The IPO is coming at a time when the COVID-19 pandemic has made many restaurants unviable. “Food ordering can meaningfully increase and share of trusted brands is bound to go up vs random mom-pop restaurants that may not be able to assure hygiene. However, out-of-home eating and loss of ordering at office/social interactions may not be made up by such shifts for the shorter term,” according to an Ambit Capital report in June. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total IPO size </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000-1,200crore </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹275 crore </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Pre-IPO fund raising </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹150 crore </td></tr></tbody></table> The company will use the IPO proceeds to repay an outstanding loan of ₹205 crore, in part or full, and for general corporate purposes. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bidders </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO allocation </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers (QIBs) </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional bidders </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail individual bidders </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Here’s all you need to know before investing in this IPO Investors and Promoters The company is backed by private equity investor CX Partners and ace investor Rakesh Jhunjhunwala’s investment firm Alchemy Capital. Alchemy Capital bought about 3.5% stake in Barbeque-Nation Hospitality for ₹90 crore last year. It is also promoted by $3 billion Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. <div type="image" title="BBQN" msid="76961414" hostid="261"></div> It filed for an IPO in 2017 with Sebi seeking to raise ₹700 crore. However, the regulator kept the processing of the company’s proposed IPO in abeyance <a href="https://www.businessinsider.in/business/corporates/news/barbeque-nation-files-ipo-papers-to-raise-rs-1000-1200-cr/articleshow/74189528.cms">“pending regulatory action for past violations</a>” and finally approved the IPO plan in January 2018. <div type="image" title="_Barbecue Nation Revenue" msid="76962277" hostid="261"></div> The long chain of restaurants The company owns and operates <keyword id="9571662" type="COMPANY" weightage="20" keywordseo="barbeque-nation-restaurants">Barbeque Nation Restaurants</keyword> at 138 outlets across India and seven outlets in the UAE, Oman and Malaysia. Although, the company could not launch the initial share-sale due to adverse market conditions. The restaurant chain has seen compounded annual growth of 14.29% in its dining covers in India, according to <a href="https://www.barbequenation.com/investor">company financials</a>. It has grown from ₹68.60 crore in FY17 to 89.60 crore in FY19, <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/jhunjhunwala-cx-partners-backed-barbeque-nation-refiles-for-rs-1000-1200-crore-ipo/articleshow/74188490.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst">pillared by referrals and recommendations of customers</a>. <div type="image" title="Barbecue Nation" msid="76961916" hostid="261"></div> Recent acquisitions It also acquired 61.35% stake in <keyword id="9574592" type="COMPANY" weightage="20" keywordseo="red-apple-kitchen">Red Apple Kitchen</keyword>, which owns Toscano, a casual dining Italian restaurant chain that has ten outlets operating across Bengaluru and Chennai. Barbeque Nation also launched UBQ through its existing kitchen infrastructure, in November 2018 to provide a la carte Indian cuisine in the value segment, which is also being availed by delivery across 71 cities in India. The chain is 14-years old and has been fairly popular throughout its existence. However, the overall gloom in the restaurant industry may cap the potential value that could be unlocked through this IPO. "The restaurant &amp; hospitality sector, despite being amongst the worst hit due to COVID 19 has tremendous potential in a growing economy like India. With the rise of nuclear families, changing habits, increasing urban population with higher disposable income coupled with strong growth of food related e-commerce platforms,a strong branded player like Barbeque Nation stands to gain in the future. If the IPO is priced well, it could attract a lot of interest among both retail &amp; institutional investors leading to a strong listing at the bourses," said Abhijeet Ramachandran, Independent Analyst/ Co-Founder and trainer at Tips2trade SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/barbeque-nation-files-ipo-papers-to-raise-rs-1000-1200-cr/articleshow/74189528.cms" data-type="tilCustomLink">Barbeque Nation looking to raise ₹1,000-1,200 crore from IPO, files papers with SEBI</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

Barbeque Nation IPO must be priced the same way as its menu—value for money

<ul><li>The company has been working on the project⁠— in which India’s Tata Group has a small investment⁠— for the last two decades </li><li>The founders told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> that they see a company like <keyword id="86569" type="COMPANY" weightage="20" keywordseo="Hindustan-Aeronautics-Limited">Hindustan Aeronautics Limited</keyword> (HAL) as a potential partner.</li><li>The Yoelis see the flying car useful as an ambulance for health emergencies to start with, something that government or private hospitals and civic bodies can incorporate into their fleet. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>.</li></ul>Israel-based <keyword id="3918963" type="PERSON" weightage="20" keywordseo="Urban-Aeronautics">Urban Aeronautics</keyword> is developing <keyword id="489845" type="PERSON" weightage="20" keywordseo="Flying-cars">flying cars</keyword> called the <keyword id="9571506" type="COMPANY" weightage="20" keywordseo="cityhawk">CityHawk</keyword> powered by hydrogen fuel cells. The company has been working on the project⁠— in which India’s Tata Group has a small investment⁠— for the last two decades and is currently looking to raise money and gain a strategic partner in the last financing round. The founders told Business Insider that they would consider India for manufacturing and see a company like <keyword id="151778" type="DOMAIN" weightage="20" keywordseo="Hindustan-Aeronautics">Hindustan Aeronautics</keyword> Limited (HAL) as a potential partner. <div type="image" title="Rafi Yoeli" msid="76954191" hostid="261" caption="&amp;lt;p&amp;gt;Rafi Yoeli, the inventor and designer behind the Urban Aeronautics flying car.&amp;lt;/p&amp;gt;"></div> “We are looking for $40 million, possibly in tranches and maybe not all at once. The amount of money will take us to full-scale development at the beginning of manufacturing of the unmanned vehicle,” said <keyword id="9571507" type="PERSON" weightage="20" keywordseo="janina-frankel-yoeli">Janina Frankel-Yoeli</keyword>, the vice-president of marketing at Urban Aeronautics. “We are at a stage in 2020 where we are looking for serious agreements with strategic partners. We believe that Stage B will end in some kind of M&amp;A. We need a lot more than $40 million to actually finish the program, certify it and then switch to hydrogen, certify that as well, and launch it into the market,” said Rafi Yoeli, the inventor and designer behind the Urban Aeronautics flying car. The India connection The company currently has private investors, one of which is Tata Industries. However, Tata while responding to Business Insider queries said, “Tata Industries is a very minor investor in Urban Aeronautics. We do not have any further guidance to offer.” It has also partnered with French company Safran, which supplies all power and requirements. “We have signed an agreement with certain parties, not in India yet, but we are definitely looking forward to it. Really for the manned-aircraft, which we think has a lot of potential in India,” Rafi said. Rafi thinks a lot of aircraft makers in India can be a great strategic partner for their company. “There are a lot of aircraft makers in India we know Hindustan Aeronautics Limited (HAL), there was some point where Tata could have been a partner. I think they went in different directions. But, they are still invested,” he said. “We are a private company and setting up a manufacturing unit in India is a big advantage for us,” he added. How does a flying car look? The company aims to deploy these flying cars like Uber in the sky. No, it’s no more a dream or merely a fiction the company has already developed its “first tone, full-scale flying car, as you can see it is still unmanned. It is called comran. It already has 300 autonomous flights behind it,” Rafi Yoeli. <div type="image" title="image1(1)" msid="76954249" hostid="261"></div> CityHawk is a six-seater vehicle, with a uniquely compact footprint and no external wings or rotors. “It is indeed the size of a car. It is 2.25-metre wide at this time and approximately 6 metres long, more of a van. But it takes off vertically. It can carry 100s of kilograms, and it is designed to the same standard and same procedures as you design a bell two helicopter,” Rafi Yoeli told Business Insider. The Yoelis see the flying car useful as an ambulance for health emergencies to start with, something that government or private hospitals and civic bodies can incorporate into their fleet. As of now, flying vehicles including drones <a href="https://uavcoach.com/drone-laws-in-india/">are tightly regulated in India</a>, and it may be a while before the country opens up to flying cars, or is even able to afford them on a large scale. However, allowing a manufacturing unit is an opportunity to attract investment, to create jobs for some of the country’s bright engineers, and the subsequent knowledge transfer will make the country a fertile ground for future innovations in a space that is yet to take shape. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/comet-neowise-will-burn-bright-over-india-for-the-next-20-days-after-two-earlier-comets-fizzled-out/articleshow/76953313.cms" data-type="tilCustomLink">Comet Neowise will burn bright over India for the next 20 days after two earlier comets fizzled out</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

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