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<ul><li>Signature Global’s IPO received tepid response from institutional investors on day 1.</li><li>Investors can bid for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter.</li><li>It has fixed the price band at ₹366 to ₹385 per share and the issue closes on September 22.</li></ul> The initial public offer (IPO) of Signature Global was subscribed 0.54 times at the end of the first day of the issue. The issue did not receive any bids from qualified institutional buyers (QIBs) with tepid response from non-institutional investors. The company has fixed the price band at ₹366 to ₹385 per equity share for its maiden public offer which closes on Friday, September 22. Investors can bid for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter. The public issue of shares that have a face value of ₹1 comprises fresh issuance of equity shares worth ₹730 crore and an Offer for Sale (OFS) of shares worth ₹127 crore. <cmsannotation type="cmsannotation" annotationid="Signature Global IPO Subscription status" comment="subhead" text="Signature Global IPO Subscription status"><keyword id="18848203" type="General" weightage="20" keywordseo="signature-global-ipo-subscription" source="Orion">Signature Global IPO Subscription</keyword> status</cmsannotation> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times subscribed </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.42 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.9 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.54 </td></tr></tbody></table> Signature Global started operations in 2014 through its subsidiary Signature Builders Pvt Ltd with the launch of 'Solera' project on 6.13 acres of land in Gurugram, Haryana. As of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi-NCR region, with an aggregate saleable area of 18.90 million square feet. The company's sales (net of cancellation) have grown at a compounded annual growth rate (CAGR) of 42.46 per cent, from 1,690.27 crore in fiscal 2021, to 3,430 crore in fiscal 2023. As of March 31, 2023, it had sold 25,089 residential units with an average selling price of 36 lakh per unit. ICICI Securities Ltd, Axis Capital Ltd and Kotak Mahindra Capital Company Ltd are the book-running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jioairfiber-launched-in-metros-plans-and-benefits-versus-the-airtel-xstream-airfiber/articleshow/103804858.cms">JioAirFiber launched – plans and benefits versus the Airtel Xstream AirFiber</a> <a href="https://www.businessinsider.in/business/auto/webstories/comparison-of-citroen-c3-aircross-vs-honda-elevate-suvs-price-and-features/slidelist/103810860.cms">Citroen C3 Aircross vs Honda Elevate – Performance and features of the similar priced SUVs</a> <a href="https://www.businessinsider.in/tech/news/new-google-bard-allows-you-to-search-gmail-work-docs-and-more/articleshow/103800570.cms">Bard gets access to Google Apps – You can now search your Gmail or Docs for information</a>

Signature Global receives over 50% subscription on day one

Mumbai: The Reserve Bank is unlikely to cut the benchmark <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword> in its forthcoming bi-monthly monetary policy review later in the week as <keyword id="19999652" type="General" weightage="20" keywordseo="retail-inflation" source="keywords">retail inflation</keyword> is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts. Earlier this month, the government reconstituted the Reserve Bank's rate-setting panel -- <keyword id="19913109" type="General" weightage="20" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (MPC). The reconstituted panel, with three newly appointed external members, will commence its maiden meeting on Monday. MPC Chairman RBI Governor Shaktikanta Das will reveal the outcome of the three-day discussion on Wednesday (October 9). The <keyword id="19899810" type="General" weightage="100" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) has kept the repo or short-term lending rate unchanged at 6.5 per cent since February 2023, and experts think some easing could only be possible in December. The government has tasked the central bank to ensure that Consumer Price Index (CPI) based retail inflation remains at 4 per cent with a margin of 2 per cent on either side. In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest rates. "We do not expect any change in the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> or stance by MPC. The reason is that inflation for September and October will be above 5 per cent, and the present low inflation is due to the base effect. Besides, core inflation is inching upwards," said Madan Sabnavis, Chief Economist, Bank of Baroda. Further, the recent Iran-Israel imbroglio can intensify, and there is uncertainty here, he said. "Hence, the status quo is the most likely option even for new members. Inflation forecast may be lowered by 10-20 bps and no change in GDP forecast likely," said Sabnavis. The central bank last hiked the repo rate to 6.5 per cent in February 2023 and since then, it has held the rate at the same level. Icra Chief Economist Aditi Nayar said that given the undershooting in the initial first quarter GDP growth relative to the MPC's forecast and the likely sizeable undershooting in the second quarter CPI inflation print as well, "we believe a stance change to neutral may be appropriate in the October 2024 policy review". This could be followed by a shallow rate-cutting cycle of 25 bps each in December 2024 and February 2025, she added. "The abundant monsoon offers some insurance for crop inflation. The impact of global political developments and geopolitical uncertainty on the growth inflation dynamics remains a risk," Nayar added. An HSBC report said three developments stand out -- softer growth numbers have trickled in recently, inflation has been falling, and the external environment has moved from rate hikes to cuts. "We believe the RBI doesn't gain from waiting any longer. We think it will change its stance from a hawkish 'withdrawal of accommodation' to 'neutral' in the upcoming 9 October policy meeting, followed by repo rate cuts of 25 bps each in the December and February meetings, taking the repo rate to 6 per cent," the report said. The RBI kept the repo rate unchanged at 6.5 per cent in its August bi-monthly review amid risks from higher food inflation. This was the ninth consecutive MPC meeting, which decided to maintain the status quo on the rate front. Pradeep Aggarwal, founder and chairman, Signature Global (India) Limited, said while the real estate industry, developer community, and homebuyers are hoping for an interest rate cut in the upcoming monetary policy review, the RBI is likely to hold on to the interest rate cuts for the tenth consecutive time. "The apex bank still seems uncomfortable with the overall retail inflation scenario, particularly food inflation. As such, it is expected to maintain the status quo. The recent interest rate cut by the US Federal Reserve has ignited similar hopes even in India, but the domestic scenario is very different," he added. SBM Bank India Head Treasury Mandar Pitale believed that the MPC has persistently advocated a restrictive policy until inflation aligns durably towards the 4 per cent target. "With the unfavourable base effect taking the next couple of CPI prints near 5 per cent plus or minus, it will pose a major challenge for MPC to start easing from the October meeting," Pitale said, adding that the MPC is also expected to deliberate upon the global factors like growth-inflation behaviour in developed economies. The government has appointed Ram Singh, Saugata Bhattacharya, and Nagesh Kumar as external members of the MPC. They have replaced Ashima Goyal, Shashanka Bhide, and Jayanth R Varma. Apart from the Governor, the other internal members are the RBI Deputy Governor in charge of monetary policy Michael Debabrata Patra and the Executive Director monetary policy department of RBI Rajiv Ranjan. In an off-cycle meeting in May 2022, the MPC raised the policy rate by 40 basis points and it was followed by rate hikes of varying sizes, in the subsequent meetings till February 2023. The repo rate was raised by 250 basis points cumulatively between May 2022 and February 2023.

Status-quo on interest rate likely, say experts ahead of RBI's policy review

The Italian carmaker Pagani produces fewer than 100 vehicles a year, and each comes with a seven-figure price tag. The brand is known among gearheads for its attention to detail and air of exclusivity, qualities that Pagani hopes will translate to its next project: luxury condominiums.This spring, the company unveiled plans for Pagani Residences, a 70-unit condo development in Miami's North Bay Village. The automaker says the building will offer waterfront views and living spaces "meticulously curated" by its interior-design arm. Pagani condos, much like Pagani cars, start at about $3 million. But for people desperate to claim a piece of Pagani, the price tag may be no problem at all."I sold a unit to a guy that loves Pagani cars, and it just didn't matter to him what the location was," Carlo Dipasquale, a luxury-real-estate agent in South Florida, told me. "They could've built the building inland, anywhere in Miami, for all he cared."Pagani is the latest high-end car brand to lend its name to a shiny condo project along the Miami coast, joining the likes of Mercedes-Benz, Porsche, Aston Martin, and Bentley. Beyond automakers, there's a growing list of luxury brands hoping to use real estate to turn their cultural cachet into cold, hard cash. The owner of the trendy Italian eatery Carbone is partnering with developers on a high-rise; Dolce &amp; Gabbana also has one in the works. Even Elle magazine announced this spring that it would get in on the action with a condo project near Miami Beach, hoping to sell buyers on a lifestyle pulled straight from its glossy pages.When I heard of these plans a few months ago, I was tempted to dismiss them as the kinds of vanity projects that matter only to people with too much money and an insatiable hunger for status. Some of the announcements also struck me as a bit of a stretch. Magazines have a hard enough time peddling subscriptions these days — what makes them so sure they can sell condos? But as I talked with more people, it became clear that so-called branded residences are a global phenomenon that's here to stay, with developers laying the groundwork for branded towers in hot spots like Dubai, London, and New York. The hottest — and weirdest — trend in condominiums could actually tell us a lot about the future of real estate, not to mention our brand-addled brains.The concept of branded real-estate projects isn't new. New York's five-star Sherry-Netherland Hotel began welcoming long-term residents almost a century ago, and since then roughly 700 branded residences have graced skylines around the world. But the recent boom in these projects makes it clear that we've entered a new era: More than 650 branded projects are set to open over the next five years, a doubling that Riyan Itani, the founder of the specialty consulting firm Global Branded Residences, told me is "pretty much unprecedented in any sector." Condo developers these days are laser-focused on the bottom line, and they believe linking up with a well-known label will help them sell units faster and at higher prices. Brands like Elle or Pagani stand to collect some nice licensing fees, too. But that's not what they're really after."It's about outreach to a customer base beyond your core business," Itani said. Whether you sell handbags or golf clubs, "you're able to reach out in a different way and get brand loyalty."<div type="image" title="A digital rendering of a Pagani car parked outside the planned Pagani Residences condo development at sunset." height="1754" width="3200" msid="112521069" hostid="261" sizebytes="412604"></div>Most of these projects are tied to big, swanky hospitality names like Four Seasons or Ritz-Carlton, which set aside parts of their buildings as for-sale units. These arrangements feel like natural unions — if you're a big-money traveler with a fierce loyalty to the Four Seasons, for example, you might be inclined to purchase a home that promises the same level of comfort, service, and brand recognition. But a smaller slice of branded residences, about 20%, are partnerships between forward-thinking real-estate developers and companies that appear to have nothing to do with housing. These are the most attention-grabbing, and sometimes head-scratching, marriages: Lamborghini villas in Dubai and Spain; Nobu Residences in Toronto, named for the Japanese Peruvian restaurant favored by celebrities like Drake; a Miami tower branded by the fine crystal maker Baccarat that touts the tagline "Where life forever sparkles."It's not as if these luxury-goods companies suddenly morphed into real-estate experts. They typically license their names to seasoned development firms that front the money for these projects, shepherd them to the finish line, and ultimately bear the risk and reward of the actual condo sales. While the brands leave the number crunching and floor planning to the developers, they weigh in on design flourishes — Giorgio Armani himself apparently lends a personal touch to the interiors of Residences by Armani Casa in South Florida — and the condos' marketing campaigns. The contributions may appear comparatively small, but adding a well-known company to the marquee can deliver real results for the building's owner. Itani estimates that developers working on a branded residence spend an extra 10% to 15% of what they would spend on a standard condo project, since they have to pay for all the additional amenities and the right to splash the brand's logo across the building. But in crowded cities like New York or Miami, a recognizable logo can help a new building stand out. It also translates to cash: Itani told me units in branded towers go for a global average of 30% more than comparable non-branded units."It's kind of a no-brainer for a developer," Itani told me. "From a financial standpoint, it's a very profitable enterprise."No-brainers for developers aren't always a win for consumers (take, for instance, the recent <a target="_blank" href="https://www.businessinsider.com/why-are-new-homes-ugly-construction-builders-design-materials-architecture-2024-7">race toward the bottom in homebuilding</a>). But when it comes to branded residences, there are real selling points for buyers. Brand loyalists may be eager to welcome their favorite company into yet another corner of their lives. They're invited to consider what it might feel like to live inside a Lambo rather than merely speed down the coastal highway in one. There's a novelty aspect to these purchases, too. Plenty of people own luxury condos, but far fewer get to flex a prestigious name like Bentley or Porsche when directing visitors to their new pad. Developers load up these buildings with amenities to help discerning buyers feel like they're getting bang for their buck. Convenience waits around every corner: infinity pools and thermal spas, private boat slips, rooftop helipads. The Bentley Residences allows owners to park their cars in their units via a vehicle elevator. Villa Miami, the 58-story Miami condo project from Major Food Group, which owns a slew of exclusive restaurants such as the impossible-to-get-a-table-at Carbone, promises residents private dining experiences and VIP status at all its outposts. Hotels, meanwhile, offer to list branded condos on Airbnb and manage them when their owners aren't there, helping buyers make a return on investment even in their absence.The biggest attraction of these glitzy homes, however, may be peace of mind. Plenty of condos are vying for rich buyers' eyes and wallets, and they're not all created equal. But when a prestigious name like Aston Martin or Dolce &amp; Gabbana stakes its reputation on a project, buyers get some added assurance that the units will meet — or exceed — their lofty standards."These are all very well-known, established brands that people feel comfortable buying into," Laura Steinbruckner, a luxury agent in the Miami area, told me.Developers aren't likely to stray too far from this lucrative pitch. Luxury brands will probably always offer the biggest upside for builders, and even the "non-luxury" projects in the pipeline are still tied to respected brands like Hilton and are only slightly cheaper than the big-name buildings. But developers interested in branded residences have a plethora of other candidates, some of which could stretch the boundaries of the sector even further. The Elle project may seem out of left field, but Itani told me he's talking with another publication interested in making similar inroads. After all, magazines like Elle portray enviable lifestyles tied to fashion, celebrity, health, and beauty. All those things could translate to experiences within buildings, Itani told me. That's not to say all branded residences offer the same gilded path to profits. Car companies and fashion labels, unlike hotels, aren't known for their property-management chops, and there's a risk that buyers eventually tire of the marketing schtick. In a few years, you may well see some condo owners complaining that they got a Fiat level of service when they were promised a Ferrari. Rob Sykes, an associate principal at the global design firm WATG who advises companies on hotels and branded residences, told me developers shouldn't count on slapping a big name on a building and instantly reaping rewards. But he does expect to see the sector expand as non-hotel brands enter the market — just last year he was in conversations with a client who was interested in bringing a luxury jewelry brand (he wouldn't name names) into the fray.Itani was still amazed that two sectors in particular — tech and food — hadn't made more of a splash in the world of branded residences. There are a few big restaurant names, including Nobu, Major Food Group, and Cipriani, the famed Italian eatery. But Itani envisions a world in which many other newcomers turn corner-table regulars into corner-unit owners. He also sees an opening for ubiquitous tech companies like Apple or Google to sell loyal fans yet another product, one tricked out with all the latest tech and infused with their design ethos."If there are two things that a modern human being cares most about, it's what they're putting in their mouth and what phone they've got in their pocket," Itani told me. "So I would expect to see those two elements represented."<a target="_blank" rel="" href="https://www.businessinsider.com/author/james-rodriguez">James Rodriguez</a> is a senior reporter on Business Insider's Discourse team.

The next big status symbol in real estate

<ul class="summary-list"><li>Chinese millennials are redefining luxury status symbols by refocusing on quiet luxury and personal style.</li><li>Solo travel, pre-loved luxury fashion, and fine dining are also gaining popularity.</li></ul><a target="_blank" href="https://www.businessinsider.com/millennials-saw-wealth-grow-double-during-pandemic-2024-4">Millennials</a>, aged between their late 20s and early 40s, are approaching the age for major life milestones: they've gained some ground in their careers, some are thinking about settling down with a family, and others have enough disposable income to splash on designer goods.For the wealthiest among them, luxury status symbols can be a way to showcase your success to others. <a target="_blank" href="https://www.businessinsider.com/rich-millennials-buy-homes-start-families-create-new-status-symbols-2023-8#theyre-bringing-back-the-travel-agent-7">Rich millennials</a> in the US have been known to splash out on their pets, new laundry rooms, and expensive coffee machines.And over in China, rich millennials have their own ideas of what counts as a luxury status symbol. They've followed suit in <a target="_blank" href="https://www.businessinsider.com/chinese-rich-go-for-quiet-luxury-stealth-wealth-2023-8#:~:text=China's%20richest%20people%20are%20leaning,their%20flashy%2C%20label%2Dchasing%20peers&amp;text=This%20story%20is%20available%20exclusively%20to%20Business%20Insider%20subscribers.">embracing quiet luxury</a> — expensive goods that aren't clocked by the untrained eye — and some are opting to have fewer kids to focus on their careers and are traveling solo.Here are 11 luxury status symbols for Chinese millennials:<h2 id="12739363-c77a-4ea2-a75c-8dad5fa2307f">1. They've moved past allegiance with specific brands</h2><div type="image" title="Louis Vuitton" height="2000" width="3000" msid="110249811" hostid="261" sizebytes="533372"></div>Garish <a target="_blank" href="https://www.businessinsider.com/gucci-sales-profit-reputation-falling-luxury-kering-michele-china-2024-5">Gucci prints</a> and flashy <a target="_blank" href="https://www.businessinsider.com/how-to-spot-fake-louis-vuitton-bags-from-employee-2023-12">Louis Vuitton</a> logos are no longer a top priority for luxury customers looking to display their style as a status symbol. These millennials are less loyal to specific brands than their parent's generation.They "seek products and experiences that not only reflect their personal style and aspirations but also resonate with their cultural identity and values," Daniel Langer, a Pepperdine University luxury professor and CEO of the luxury strategy firm Équité, told Business Insider.Customers want more personal items that <a target="_blank" href="https://www.businessinsider.com/emotion-might-be-the-next-brand-value-metric-2024-5">reflect their values</a> over a generic symbol of spending power.It's more about an "inward feeling rather than an outward projection," said Amrita Banta, managing director of luxury insights firm Agility Research &amp; Strategy.<h2 id="7fcf685d-b2f4-40c8-8806-db34876907af">2. Less loud luxury, more quiet luxury</h2><div type="image" title="Shoppers walk past the Italian luxury fashion brand Brunello Cucinelli store in Hong Kong." height="3327" width="5000" msid="110249812" hostid="261" sizebytes="1301862"></div>Those who buy from designer brands are doing so more subtly. <a target="_blank" href="https://www.businessinsider.com/china-nailing-old-money-stealth-wealth-look-on-budget-2023-8">"Laoqianfeng" — a concept similar to the Western old-money aesthetic</a> — has become a favorite of rich millennials in China. It refers to looking put together in an effortless way."This younger cohort is inclined to convey their elevated societal standing in understated ways," Elisa Harca, CEO of consultancy firm Red Ant Asia, told Business Insider.Harca points to brands like <a target="_blank" href="https://businessinsider.com/mary-kate-and-ashley-olsen-bios-child-actors-fashion-2023-5">The Row</a>, which exemplify this style. The brand, founded by former child stars Mary-Kate and Ashley Olsen, prioritizes an anti-trendiness, focusing instead on simplicity, style, and comfort.Even though the clothes may look understated, the key is in the details. Wealthy customers still want a high standard of customer service through talking one-on-one to sales assistance or being in contact with brands over <a target="_blank" href="https://www.businessinsider.com/chinese-superapp-wechat-best-feature-walkthrough-2019-12">WeChat</a> to hear about exclusive products, Harca said.Expect to see these rich millennials mixing <a target="_blank" href="https://www.businessinsider.com/chanel-4450-f1-embroidered-t-shirt-luxury-tiktok-2023-6">luxury casual wear like T-shirts and sneakers</a> with traditional luxury brands, Banta told BI.<h2 id="98a021f8-3577-4e78-88a5-31c718b42828">3. Group travel is out, solo travel is in</h2><div type="image" title="Antarctica" height="991" width="1486" msid="110249813" hostid="261" sizebytes="133804"></div>Travel has also changed for today's rich millennials compared to their parents.When their parts were growing up, China's world tourism was still in its infancy, which meant that organized tour groups were the travel option of choice for those with money. They were attracted to the safety and accessibility of traveling in a big group, said Harca.But now younger Chinese people, especially those already well-traveled or have studied abroad, are opting for solo travel or traveling with small groups of friends.Adventurous and immersive experiences to one-of-a-kind destinations are top of the travel list for this cohort — think <a target="_blank" href="https://www.businessinsider.com/budget-vs-luxury-safari-africa-private-game-reserves-2024-3">glamping safaris</a> and trips to <a target="_blank" href="https://www.businessinsider.com/antarctica-i-do-not-regret-visiting-cruise-expensive-review-2023-12">Antarctica</a> or <a target="_blank" href="https://www.businessinsider.com/iceland-first-visit-what-surprised-me-no-trains-mcdonalds-population-2024-1">Iceland</a>, Banta told BI.<h2 id="43986f19-c643-4b27-8e2b-b3595dc4db45">4. Pre-Loved Luxury Fashion</h2><a target="_blank" href="https://www.businessinsider.com/gen-z-secondhand-shopping-luxury-high-end-preloved-items-report-2023-4">Pre-loved luxury fashion</a> has taken off in the West as a more sustainable way to shop for designer brands. And many rich millennials in China are following suit.For one, it's more <a target="_blank" href="https://www.businessinsider.com/resale-clothing-sustainable-recycle-donate-used-thrifted-2020-1">sustainable</a>. Reflecting your values in your purchases is becoming more important for customers, and as such, the environmental impact of the textile industry is a great concern for those buying clothes, said Olivia Plotnick, founder of Wai Social, a Shanghai-based social media agency.So, luxury consumers are turning to secondhand clothes using platforms like Vestiaire Collective, The RealReal, and Mercari.For some Chinese people, secondhand clothing items are associated with superstitions of bad luck and negative energy. But these beliefs hold less weight for younger generations, Harca told BI.An added bonus of <a target="_blank" href="https://www.businessinsider.com/wealthy-gen-z-thrifting-vintage-clothing-boom-y2k-fashion-2021-10">vintage and secondhand clothes</a> is that they can be more individual than clothes found on the rack. Finding unique pre-loved clothes is a way to express individuality through fashion choices, Harca said. These items can have a more personal story behind them.<h2 id="2cf4fa45-7ce2-4e54-968e-f8dfd0c1b0e7">5. Buying products that come with an experience</h2><div type="image" title="Whisky Stills in Port Ellen" height="3024" width="4032" msid="110249814" hostid="261" sizebytes="959460"></div>Social media and the internet have made it easier to identify highly coveted items, so for luxury consumers, these brands are becoming too conspicuous.Instead, they're looking for ways to make these things more individual.An exec at drinks conglomerate Diageo told BI about how the company is trying to appeal to this type of consumer as its Asian whisky market grows. It's doing so by investing in reopening distilleries like Port Ellen off the coast of Scotland to offer <a target="_blank" href="https://www.businessinsider.com/inside-luxury-ghost-whisky-distillery-revived-after-40-years-2024-4">premium whisky tours</a>."It's not enough to just say this is 45-year-old Port Ellen cask. They want to say they journeyed to Scotland, tested all these different whiskies, and to tell you about the experiences they had," said Ewan Andrew, Diageo president of global supply chain &amp; procurement.There are two main reasons customers are drawn to these experiential goods, according to Langer. First, some people are attracted to brands that make them feel like part of an exclusive club and find their egos satisfied by VIP experiences. Another group finds more satisfaction in the authenticity and individuality of these experiences over overt displays of wealth.<h2 id="6374eca9-2121-4ee2-b461-9dcbd1ea1a67">6. Fine dining in Michelin-starred and Black Pearl-rated restaurants</h2><div type="image" title="Master chef of Canton 8 restaurant, Jie Ming Jian (R) cooks vegetables in the kitchen of the restaurant, which was awarded two Michelin stars on September 21, 2016" height="667" width="1024" msid="110249816" hostid="261" sizebytes="46212"></div>Another emerging hobby among this affluent group is enjoying the burgeoning fine dining industry.<a target="_blank" href="https://www.businessinsider.com/history-of-the-michelin-guide-2014-10">The Michelin Guide</a>, which entered China in 2016, attracted some criticism for being too Western-centric, according to the <a target="_blank" href="https://www.scmp.com/lifestyle/food-drink/article/3171517/chinas-answer-michelin-guide-black-pearl-restaurant-guide-seen">South China Morning Post</a>. That's where the Black Pearl guide comes in: it was set up in 2018 by <a target="_blank" href="https://www.businessinsider.com/coronavirus-changing-food-consumption-in-china-2020-2">Meituan</a>, a Chinese food delivery giant, to appeal to Chinese consumers from a Chinese perspective.But both guides are still popular with luxury consumers, according to Banta. These customers like to tick off highly rated restaurants in their own city and wherever they travel.<h2 id="7b90a8d7-a8e3-4fc2-93c7-6c8ac8227b25">7. Choosing not to have kids</h2>There's also been a cultural shift in societal attitudes toward marriage and parenthood, changing how wealthy millennials approach life milestones.Some see having kids as a <a target="_blank" href="https://www.businessinsider.com/women-china-not-having-kids-tell-us-why-2024-2">bad investment</a>. Instead, this generation is more inclined to prioritize personal freedom, <a target="_blank" href="https://www.businessinsider.com/women-pay-gap-motherhood-fatherhood-nobel-prize-harvard-economist-2023-10">career development</a>, and individual pursuits over starting a family, according to Harca.<h2 id="db836c7c-d32a-4cdb-8725-9f5c717e398c">8. Those who want kids are keen to maintain a level of luxury after giving birth</h2><div type="image" title="The nursery at Clover Suites" height="540" width="720" msid="110249817" hostid="261" sizebytes="24222"></div>Luxury postnatal retreats have become popular with wealthy millennials, and some can cost over 200,000 yuan ($28,000) a month, Banta told BI.Some new mothers in China have been flocking to these luxury post-natal retreats in Singapore, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-04-12/singapore-s-125-000-a-month-retreats-are-latest-luxury-for-new-moms">Bloomberg reported</a>. The centers offer around-the-clock care for new parents including lactation consultants, nannies, and chefs.The custom of staying inside your home for a month to <a target="_blank" href="https://www.businessinsider.com/new-moms-in-singapore-vip-retreat-costs-over-21000-month-2023-3">recuperate after childbirth</a> has been documented as early as 960 in China.Modern iterations of these retreats are taking the concept to new, luxurious heights.Some of these retreats in Singapore, like Clover Suites, offer month-long trips for new mothers, which include aesthetics clinics, herbal baths, and in-house physiotherapy centers. At Clover Suites, new mothers can expect restaurant-style meals and can enjoy some rest while nurses or nannies take care of their children.And when they come back home, they're sure to spend on expensive luxury cots too, Banta added.<h2 id="5a6e1a02-9c95-4147-a418-e259a0dc6eb1">9. Splashing out on luxury home decor</h2><div type="image" title="Muuto furniture store" height="2992" width="4488" msid="110249818" hostid="261" sizebytes="279878"></div>Chinese millennials are investing their money in luxury home décor to elevate their living spaces and enhance their quality of life, Plotnick told BI.She added that brands like Tom Dixon and Muuto are popular choices for furniture, lighting, and home accessories in China."They are designing every room with painstaking detail," according to Banta.<h2 id="a6a9bb33-572c-41ea-875f-36038c71fccf">10. Splurging on wellness</h2><div type="image" title="woman in China getting a spa treatment" height="684" width="1024" msid="110249819" hostid="261" sizebytes="34346"></div>Luxury wellness and self-care products, such as skincare, <a target="_blank" href="https://www.businessinsider.com/beauty-trends-to-watch-according-to-venture-capitalist-scout-2023-3">beauty</a>, and <a target="_blank" href="https://www.businessinsider.com/should-i-take-supplements-scientist-benefits-2024-4">wellness supplements</a>, are all gaining popularity among health-conscious Chinese millennials, Potnick told BI.Potnick pointed to one popular brand, <a target="_blank" href="https://www.mesoestetic.co.uk/?gad_source=1&amp;gclid=Cj0KCQjw0MexBhD3ARIsAEI3WHIZrVBLAdWj4mBvf_h9c3wYp3RZz0oe6qoCxtyr1gWf_0L3LNDQcugaAoUpEALw_wcB">mesoestetic</a>, which offers aesthetic treatments like peels and facial needling.The pandemic spurred the wellness trend, particularly for Gen Z and millennials. Post COVID, people became more interested in wellness supplements to aid diet and improve health, Gabriella Tegen, cofounder and CEO of e-commerce subscription platform Smartrr, <a target="_blank" href="https://www.businessinsider.com/business-trends-for-2023-ai-blockchain-health-secondhand-shopping-2023-1#8-gen-z-and-millennials-are-fueling-a-new-wave-of-wellness-brands-5">previously told BI</a>. And getting regular aesthetic treatments has become a top priority for affluent millennials, Banta told BI.<a target="_blank" href="https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/the-trends-defining-the-1-point-8-trillion-dollar-global-wellness-market-in-2024">McKinsey 2024 wellness report</a> showed that 85% of its survey participants from China had purchased more in the longevity and healthy-aging category in the past year than in prior years, with Gen Z and millennials leading the charge over older generations.<h2 id="25806978-4090-4dfb-9b98-378f5bf5e5ac">11. Brands that stand for something</h2>This cohort of wealthy millennials in China is more concerned about shopping from <a target="_blank" href="https://www.businessinsider.com/guides/style/sustainability-as-a-value-is-changing-how-consumers-shop">sustainable brands</a>.<a target="_blank" href="https://www.businessinsider.com/5-eco-friendly-home-hacks-tiktokers-use-live-more-sustainably-2023-9">Eco-friendly</a> materials and sustainable production are an increasingly important consideration for luxury purchases, Plotnick said.Independent luxury brands that offer more authentic products and those that draw on cultural heritage are also highly in demand, she said.

Rich Chinese millennials are creating new status symbols. Here are 11 ways they are redefining luxury.

<ul class="summary-list"><li>Saudi Arabia's ruler Mohammed bin Salman is seeking to expand his influence. </li><li>Joe Biden threatened to make him a global "pariah" after the assassination of a dissident.</li></ul>In November, thousands of Saudis gathered in the streets of Riyadh to celebrate an audacious triumph by their ruler, <a target="_blank" href="https://www.businessinsider.com/saudi-crown-princes-china-deals-hint-city-darker-neom-mbs-2023-3">Mohammed bin Salman.</a>Saudi Arabia, beating Italy and South Korea, had just been named host of the 2030 World Expo, a global exhibition that will attract billions in investment and thousands of visitors to the desert kingdom.The decision was a coup for the crown prince in his bid to reshape the global image of Saudi Arabia as part of his signature <a target="_blank" href="https://www.businessinsider.com/neom-saudi-prince-mbs-new-images-megacity-dystopia-2023-5">Vision 2030 Project</a>, which will see Saudi Arabia move away from its reliance on fossil fuels to become a global center for technology and innovation.But only six years ago, it was a very different story and Crown Prince Mohammed's authoritarian brutality, rather than his image as a reformer, was the center of global focus.The <a target="_blank" href="https://www.businessinsider.com/vision-2030-saudi-arabia-plan-future-proof-oil-economy-2023-8">crown prince</a> faced global isolation in the wake of the brutal murder and dismemberment of dissident Jamal Khashoggi in a crime the CIA said was likely committed on his direct orders.Joe Biden on the 2020 campaign trail said that he would make Crown Prince Mohammed a "pariah" over the killing, while Republican Sen. Lindsay Graham branded him an "unhinged murderer."Analysts told Business Insider that <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-crown-prince-mohammed-bin-salman-mbs-2023-10">Crown Prince Mohammed</a> has leveraged Saudi Arabia's economy, diplomacy, and enormous wealth to regain his global status."With time, people in the West have focused less on the Khashoggi murder case and have chosen to focus more on how Saudi Arabia is an important global player that countries have to work with in order to advance their national interests," Giorgio Cafiero, the CEO of Gulf State Analytics, told Business Insider.<h3>Oil market control gives leverage</h3>F. Gregory Gause, a professor of international relations at Texas A&amp;M University, told Business Insider that the crown prince's power over global oil markets had been central to his ability to withstand the fallout from the Khashoggi killing and rebuild his power.In the wake of Russia's war in Ukraine, oil markets have been in turmoil, he said."Saudi Arabia's centrality in the world oil market is the centerpiece of Saudi global influence," said Gause. "The war in Ukraine, which disrupted energy markets and drove prices up in 2022, increased Riyadh's relevance for the countries like the US that had distanced themselves from MBS. If you want to do business with Saudi Arabia, you need to do business with the Crown Prince."Other major economies, such as China or Russia, which don't share US concerns over human rights violations, had expressed no concern over the Khashoggi killing.<div type="image" title="Jamal Khashoggi" height="2000" width="3000" msid="106418530" hostid="261"></div>"While it was the Ukraine war that brought the Biden Administration around to dealing with MBS, most other countries, including Russia and China, had been dealing with Riyadh without any problems or interruptions," said Gause.<h3>Canny diplomacy</h3>Crown Prince Mohammed has used not just used Saudi Arabia's economic might, but canny diplomacy to win back influence.In recent months, Saudi Arabia has entered into US-brokered negotiations to normalize relations with Israel, though these were abruptly halted by the Hamas terror attacks on Israel on October 7, and the subsequent Israeli bombardment of Gaza.The Saudis have also engaged in China-brokered discussions to ease tensions with Iran, its regional arch-enemy, and back away from the conflict in Yemen, where Saudi and Iran-backed proxies are engaged in a brutal and protracted war.Saudi efforts to stabilize a region that has been racked by decades of conflict and sectarian strife are tied to the crown prince's determination to reshape the Saudi economy, say analysts."Saudi Arabia has become a more consequential and constructive player in Middle East affairs," said Jon Alterman of the Center for Strategic and International Studies in Washington, DC. "Saudi Arabia is doing more hard things simultaneously than it has ever done before, and it is doing so more effectively than it has ever done before. That has helped improve the crown prince's standing."When the Israel-Hamas conflict has subsided, Saudi will likely resume the process of attempting to normalize ties with Israel, said Gause."Once the crisis ends, the factors that drove that process will come back into play – joint Saudi and Israeli worries about Iran, the Saudi desire for a codified security guarantee from the US, the Biden Administration's insistence that such a guarantee can only come as part of a Saudi-Israeli deal," said Alterman. The crown prince isn't restricting himself to winning over political and business leaders, but is seeking to broadly rehabilitate Saudi Arabia's image in the West as he seeks investment and encourages tourism.<h3>Sportswashing</h3>In pursuit of this, Saudi Arabia is turning itself into a global sports superpower as part of its so-called "sportswashing" strategy. Saudi Arabia's sovereign wealth fund has invested billions in PGA golf, hosting heavyweight boxing tournaments, and bringing some of the world's most famous soccer players to compete in its domestic league.But obstacles remain for the crown prince in his quest to cement and expand his global influence — not least his continued determination to crush dissent.In recent months, he has launched a campaign to punish critics of his Neom megacity project. Business Insider in August reported that Saudi authorities had jailed a series of dissidents for up to 30 years in punishment for questioning the decision by Saudi authorities to forcibly oust people living on land where the city will be built.If the crown prince's authoritarian instincts and impulsiveness again lead him to punish a critic beyond Saudi Arabia's border, relations with the US could again go into tailspin, and the kingdom's glossy new image could be irreparably tarnished.But for now, said Cafiero, the crown prince's determination to make a success of his Vision 2030 plans is restraining his capacity for reckless aggression."He understands that those kinds of actions undermine the prospects for a successful economic diversification of the Saudi economy," said Cafiero.

How the Saudi crown prince used oil and political cunning to overturn his pariah status

<ul><li>Data analytics services company <keyword id="12453933" type="General" weightage="20" keywordseo="latent-view-analytics-ipo" source="Orion">Latent View Analytics IPO</keyword> has opened today and will close on November 12.</li><li>The company is looking to raise ₹600 crore through public listing.</li><li>Analysts feel ,in future, there will be a great demand for pure play analytics companies, which are engaged in providing analytics services, offering an in-depth understanding of solving complex customer problems.</li></ul>While data analytics companies are new to stock investors, analysts feel there will be a huge demand for such services in future. The positive view for the analytics industry is good news for the initial public offering (IPO) of data analytics services company <keyword id="5165543" type="General" weightage="20" keywordseo="latent-view-analytics" source="Orion">Latent View Analytics</keyword> that opened today, November 10. Latent View Analytics is looking to raise ₹600 crore through the public listing of shares. The IPO comprises a fresh issue of ₹474 crore and an offer for sale of ₹126 crore by existing shareholders and promoters. Moreover, the strong grey market premium threw limelight on the IPO of Latent View Analytics as shares of the company were demanding a premium of over 100%, that is ₹230 per share. The 15-year old company provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions. It provides services to blue-chip companies in technology, banking, financial services and insurance (BFSI), consumer packaged goods (CPG) companies and retail, industrials, and other industry domains. Adding to it, brokerage firms are also bullish on the analytics services industry as they see future demand for such services to solve complex customer problems. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </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;">Recommendation </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;">Choice Broking </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;">Subscribe </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;">Reliance Securities </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;">Subscribe </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;">TopShareBrokers </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;">Subscribe </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;">Religare Broking </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;">Subscribe </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;">Investmentz Research </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;">Subscribe for long term </td></tr></tbody></table> “We feel in future there will be a great demand for pure play analytics company [sic] like Latent View, which is engaged in providing analytics services, offering an in-depth understanding of solving complex customer problems and assists business entities in making an informed decision. Thus considering the bright future and attractive valuations, we assign a “SUBSCRIBE” rating for the issue,” said Choice Broking in a report. Analysts recommend the IPO for long term investment as analytic services companies are here to stay. “We believe Latent View has distinctive product offerings, relevant experience and capabilities to manage customers which aid in driving the company’s revenue and operating efficiencies. On the financial front, the company’s performance is decent. From a long term perspective, we have a positive view on the company,” said analysts at Religare Broking. The global data and analytics market is expected to grow at a CAGR of 18% from $174 billion in FY20 to $332.6 billion by FY24, said analysts at Investmentz Research. “Across industries, data and analytics are being leveraged by enterprises to guide business strategy and optimize spending decisions. Latent View is among the leading pure-play data analytics services companies in India. We recommend to subscribe the issue from a long-term perspective,” said the broking firm. <div type="image" title="latent view" height="900" width="1200" msid="87622248" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms">Half of Paytm’s shares have been subscribed so far — today is the last day to subscribe</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">Nykaa starts trading at ₹2,001, a premium of 77.87%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pharmeasy-files-draft-prospectus-for-its-6250-crore-ipo-no-existing-investors-selling-shares/articleshow/87618652.cms">PharmEasy files draft prospectus for its ₹6,250 crore IPO, no existing investors selling shares</a>

Analysts recommend subscribing to Latent View Analytics IPO on strong demand for data analytics

<ul><li><keyword id="10967369" type="UNKNOWN" weightage="20" keywordseo="Rolex-Rings-IPO">Rolex Rings IPO</keyword> opened on July 28 and Friday, July 30 is the last day of its initial public offering (IPO) subscription.</li><li>So far, in the last two days of issue, it has received good response from retail investors and very tepid response from qualified institutional buyers (QIB).</li><li>The company looks to raise ₹731 crore with a price band of ₹880-900.</li></ul>If you are looking to invest in the initial public offering (IPO) of Rolex Rings, then go ahead as today (July 30) is the last day of the issue. The IPO application is live from 10 a.m. to 5 p.m. So far, in the first two days of subscription, the IPO has received good response from retail investors. However, it saw a tepid response from qualified institutional buyers (QIB). The portion reserved for retail investors was subscribed 14.09 times the issue size on the second day of the issue i.e., July 29 as of 4 p.m. Overall, the issue was subscribed 8.16 times on the second day. The IPO has received bids for 4.6 crore equity shares against the IPO size of 56.85 lakh equity shares. The IPO for Rolex Rings opened Wednesday, July 28 and will close on July 30 with a price band of ₹880-900. Further, most analysts have recommended subscribing to the IPO on good outlook for the automotive industry. <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;">Broking house </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;">Recommendation </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;">Ventura </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;">Subscribe </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;">Nirmal Bang </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;">Subscribe </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;">ICICI Direct </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;">Subscribe </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;">Angel Broking </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;">Neutral </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;">Reliance Securities </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;">Subscribe </td></tr></tbody></table> “We observe that the company’s financial metrics as well as valuations are broadly in line with that of other players. The historical growth is lagging others, which is compensated by the company’s higher return ratios. Considering these metrics, we recommend subscribing to the issue from a long term perspective, “ said a report by Nirmal bang Securities. Analysts at Ventura Securities see an upside of 31% from the offer price of ₹900 over a period of 18-24 months. “Our target price of ₹1,177 (15 times FY24 earnings) represents a potential upside of 31% from the offer price of ₹900 over a period of 18-24 months. Better than expected recovery in the global economy, a rebound of the domestic automotive industry and the management’s guidance on higher capacity utilisation in the coming years bolster our confidence in improving revenue growth and profitability,” added the report. On the other hand, analysts at Angel Broking said that while valuations of the company are capturing all positives, promoter picking up 25 lakh shares in the company at ₹10 per share before the IPO is a concern. The company recently issued shares over 25 lakh to promoters at Rs 10 each on July 16 through optionally convertible redeemable preference shares (OCRPS), while it has set a price band of Rs 880-900 per share. “This way promoters received 7.29% stake in the company for ₹2.3 crore weeks ahead of the IPO,” said a <a href="https://www.bloombergquint.com/ipos/rolex-rings-sets-ipo-price-at-rs-880-900-it-issued-shares-to-promoters-at-rs-10">report</a>. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/windlas-biotech-to-raise-395-402-crore-through-public-listing-price-band-fixed-at-448-460/articleshow/84854594.cms">Windlas Biotech to raise ₹395-402 crore through public listing, price band fixed at ₹448-460</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-sundar-pichai-has-teased-the-whitechapel-chipset/articleshow/84853916.cms">Google teases Whitechapel chipset that may power Google Pixel 6 devices</a>

Today is the last day of Rolex Rings’ ₹731 crore IPO with a price band of ₹880-900

<ul><li>The basis of allotment for ₹318 crore <keyword id="9971667" type="UNKNOWN" weightage="20" keywordseo="Chemcon-IPO">Chemcon IPO</keyword> will be announced on<a href="https://www.chittorgarh.com/ipo/cams-ipo/1055/"> September 28</a>. It is scheduled to list on October 1.</li><li>The IPO was oversubscribed nearly 149.30 times, making it the second most subscribed public issue this year. </li><li>Here’s how to check <keyword id="10003535" type="UNKNOWN" weightage="20" keywordseo="Chemcon-IPO-allotment-status">Chemcon IPO allotment status</keyword> on NSE, BSE, and the registrar website.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The ₹318 crore initial public offering (IPO) of specialised chemical products manufacturer, Chemcon Speciality Chemicals, garnered a stellar response from the investors. The IPO was oversubscribed nearly 149.30 times, making it the second most subscribed public issue this year— after Happiest Minds Tech, which was oversubscribed 151 times. The issue received bids for 976 million shares against the offer size of 6 million shares. <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;">Chemcon IPO </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;">Qualified Institutional Buyer </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;">Non-institutional Investor </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;">Retail Individual Investor </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;">Total </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;">Shares Offered </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;">1,868,344 </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;">1,407,249 </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;">3,283,580 </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;">6,559,173 </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;">No. of times issue subscribed </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;">113.54 times </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;">449.14 times </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;">41.15 times </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;">149.30 times </td></tr></tbody></table> The basis of allotment for ₹318 crore Chemcon IPO will be announced on<a href="https://www.chittorgarh.com/ipo/chemcon-ipo/1060/"> September 28</a>, and the shares will hit the bourses on October 1. However, this is certain that not all investors will get as many shares as they subscribed for. <div type="Article" hostid="261" msid="78311094" title="CAMS IPO allotment: Here’s how to check share allotment status" mstype="2" mssubtype="0"></div> Here’s how to check Chemcon IPO allotment status: If you subscribed for the Chemcon IPO, you could check your allotment status by following these simple steps: To check on the stock-exchange website: <ul><li>To check the Chemcon IPO allotment status, go to the<a href="https://www.bseindia.com/investors/appli_check.aspx"> BSE website</a> or <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">NSE website</a> here.</li><li>On BSE, Select ‘Equity’ and then from the dropdown, select ‘ Chemcon Speciality Chemicals’. </li><li>Now, enter your application number and PAN.</li><li>Click on ‘Search’.</li></ul>Please note the details will only be available once the shares are allotted. You can also visit the Registrar website (Linkintime) to check your application status. <ul><li>Visit the registrar’s website <a href="https://www.linkintime.co.in/IPO/public-issues.html">here</a>.</li><li>Click on ‘Select company’ and click on ‘ Chemcon Speciality Chemicals-IPO’. It will only appear post allotment on September 28.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.</li><li>Enter the captcha and click ‘submit’. </li></ul>Once you hit ‘submit’ the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares that you subscribed to and the number of shares that have been allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-in-india-mazagon-dock-shipbuilders-uti-amc-and-likhitha-infrastructure/articleshow/78293918.cms" data-type="tilCustomLink">Three more IPOs to hit the Indian market next week — Mazagon Dock Shipbuilders, UTI AMC and Likhitha Infrastructure</a> <a href="https://www.businessinsider.in/business/auto/news/harley-davidson-exits-india-as-a-part-of-its-restructuring-plan/articleshow/78296191.cms" data-type="tilCustomLink">Harley-Davidson exits India as a part of its global restructuring plan</a>

Chemcon IPO allotment: Here’s how to check share allotment status

<ul><li>The Gujarat-based speciality chemical company, <keyword id="11035404" type="UNKNOWN" weightage="20" keywordseo="Tatva-Chintan-Pharma-Chem-IPO">Tatva Chintan Pharma Chem IPO</keyword>, opens on Friday and closes on July 20.</li><li>The IPO has a price band of ₹1,073-1,083 while it is looking to raise ₹500 crore through the public issue.</li><li>Most analysts have suggested subscribing to the IPO for the long term on strong growth opportunities in global markets. </li></ul>Tatva Chintan Pharma Chem has opened its initial public offering (IPO) bidding window for all investors. This is the second speciality chemical industry IPO to get launched in July after Clean Science and Technology. The IPO will include ₹225 crore of fresh equity shares by the company and ₹275 crore of offer for sale (OFS) by promoters and shareholders. The company manufactures a range of products in specialty chemicals category and serves industries like automotive, petroleum, pharmaceutical, agro chemicals, paints and coatings, dyes and pigments, personal care and flavour and fragrances industries. Here are the important details to note: <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;"> Issue details </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;"> </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;">Price band </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;">₹1,073 - ₹1,083 </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;">IPO open date </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;">July 16 </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;">IPO close date </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;">July 20 </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;">Allotment date </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;">July 26 </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;">Initiation of refunds </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;">July 27 </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;">Credit of shares to demat account </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;">July 28 </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;">IPO listing date </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;">July 29 </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;">Minimum lot </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;">13 </td></tr></tbody></table> Most analysts have recommended subscribing to the IPO on attractive opportunities in global markets. <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;">Broking house </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;">Recommendation </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;">Reliance Securities </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;">Subscribe </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;">Investmentz </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;">Subscribe for long term </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;">BP Wealth </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;">Subscribe </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;">Ventura Securities </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;">Subscribe </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;">ICICIdirect </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;">Unrated </td></tr></tbody></table> “The company earns 30% of revenue from pharmaceutical and agrochemical intermediates and other specialty chemicals, which are basically export orders shifted from China to India. With its superior product mix, established brand name, forward integration, strong relationships with multinationals, and adding capacities, we believe Tatva Chintan is likely to deliver healthy financial performance,” said a report by stock broking platform Investmentz. Hence it recommends subscribing to the issue from a long-term perspective. In an interview with Business Insider ahead of the IPO, Mahesh Tanna, chief financial officer (CFO) at Tatva Chintan Pharma Chem highlighted that pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC) segment is getting almost 30% of revenues from countries that have been looking for alternatives other than Chinese products. The PASC category includes specialty chemicals which are used as intermediates, disinfectants, catalysts and solvents. Many countries have started following China Plus One policy, which is the business strategy to avoid investing only in China and diversify business into other countries. “India’s specialty chemical companies are gaining favour with global multinationals because of the geopolitical shift after the outbreak of covid-19 as the world looks to reduce dependence on China. Currently, China accounts for approximately 15-17% of the world’s exportable specialty chemicals, whereas India accounts for just 1-2%, indicating that the country has a large scope of improvement and widespread opportunity. It is anticipated that specialty chemicals will be the next great export pillar for India,” said Sharekhan in a report. The overall global specialty chemical market stood at approximately $800 billion in 2019, and is expected to grow by 5-6% in the next five years, added the report. Analysts at Reliance Securities believe the company has a robust earnings growth potential in the long-run led by strong market share, capacity expansion and long-standing relationship with the key customers. “Moreover, the high valuations of the company’s issue price are justified given the high growth potential, dominant player, exposure to green energy, and strong balance sheet,” said a research report by Ventura Securities. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tatva-chintan-pharma-chem-ipo-heres-how-to-apply-via-banks-and-apps-like-zerodha-upstox/articleshow/84462586.cms">Tatva Chintan Pharma Chem IPO: Here’s how to apply via banks and apps like Zerodha, Upstox </a> <a href="https://www.businessinsider.in/business/corporates/news/infosys-is-worried-about-losing-its-it-talent-to-indias-unicorns/articleshow/84411946.cms">Infosys has a new headache — India’s unicorn boom </a>

Tatva Chintan Pharma Chem IPO -- Should you subscribe? Here’s what analysts are saying

<ul><li>The ₹100 crore IPO of healthcare and wellness products distributor Nureca is now open for public subscription.</li><li>The company sells products such as blood pressure monitors, pulse oximeters, thermometers, nebulizers, self-monitoring glucose devices under the brand name Dr Trust.</li><li>The best thing, according to investment experts about the Nureca business, is its asset-light business model.</li><li>According to Reliance Securities, “Nureca financials are quite encouraging.”</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The ₹100 crore initial public offering (IPO) of healthcare and wellness products distributor Nureca Limited is now open for public subscription. The issue will remain open till February 17, making it the sixth IPO of 2021. Incorporated in 2016, the company engages in the business of home healthcare and wellness products. It sells blood pressure monitors, pulse oximeters, thermometers, nebulizers, and self-monitoring glucose devices under the brand name Dr Trust. <div type="image" title="dr trust" msid="80921162" hostid="261"></div> The best thing, according to investment experts about the Nureca business, is its asset-light business model. They enter into agreements with vendors who manufacture the products as per the specifications. This allows Nureca to quickly scale its operations at a predetermined cost without incurring any capital expenditure on manufacturing facilities. Streets View: <keyword id="10763747" type="UNKNOWN" weightage="20" keywordseo="Nureca-IPO">Nureca IPO</keyword> <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;">Brokerage </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;">Recommendation </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;">Angel Broking </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;">Subscribe </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;">Reliance Securities </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;">Subscribe </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;">SMC Global </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;">Subscribe </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;">GEPL Capital </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;">Subscribe </td></tr></tbody></table> All you need to know about Nureca IPO: <ul><li>Nureca will utilize issue proceeds for funding incremental working capital requirements and general corporate purposes.</li><li>Investors can bid for a minimum of 35 equity shares and in multiples of 35 shares thereafter.</li><li>The price band for the public issue has been fixed at ₹396-400 per share.</li><li>The issue includes a reservation of ₹1 crore worth of shares for employees. And, the eligible employees will get shares at a discount of ₹20 per share.</li><li>ITI Capital Ltd is the sole book-running lead manager, and Link Intime India Private is the registrar to the issue.</li></ul>Attractively priced IPO, healthy financials, positive industry outlook and much more — here’s what analysts have to say about the IPO Attractively priced IPO and industry deemed to grow According to a Reliance Securities report, the company operates in a highly fragmented market. Given the massive opportunity in the Home Healthcare segment, the growth momentum is expected to sustain in subsequent years. The Home Healthcare market in India and neighbouring countries was pegged at ₹20800 crore in 2019, and it is expected to grow to ₹38,900 crore by 2025 at a compound annual growth rate (CAGR) of 11%. “IPO is valued at 5.6x annualized earnings report in 1HFY21, which looks to be attractively valued given the high asset turnover and return ratio of the company,” the report added. There are no listed peers, and therefore the benchmark valuation is difficult to ascertain. Asset light business model helps penetrating new geographies and keeps it capital efficient According to the Axis Securities report, the asset-light business model does not require Nureca to invest heavily in physical assets such as plant and machinery, land and property, which allows them to be capital efficient. The business model is scalable, such that they can expand their geographical reach and distribution capacity and add new products efficiently and at a relatively low cost without disrupting their existing business. The impressive financials According to Reliance Securities, “Nureca financials are quite encouraging.” While the company’s revenue recorded 122% CAGR over the past three fiscals, its net profit grew by 44% CAGR during the same period. <div type="image" title="Nureca&amp;#39;s financials" msid="80920950" hostid="261"></div> More importantly, the earnings before interest, taxes, depreciation, and amortization (EBITDA) and profit became almost 5.7x in the second quarter ended September 30, compared to FY20 performance. E-commerce to expedite growth The company is considered as the first digital company to sell such products through its website (drtrust.in) and other online partners. Most of the product lines support India's home health market, making it a one-stop solution provider. Dr Trust is known for its innovative products in the market, and, with the segment showing significant potential for growth. According to GEPL Capital, “the diversified portfolio range, growth in the home healthcare segment and higher online channel mix are estimated to drive profitability in the years to come.” SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms" data-type="tilCustomLink">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-wants-major-holders-of-cryptocurrency-dogecoin-to-sell-most-of-their-coins/articleshow/80920866.cms" data-type="tilCustomLink">Elon Musk wants major holders of cryptocurrency Dogecoin to sell ‘most of their coins’</a>

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