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<ul><li>Even after the <keyword id="6473060" type="General" weightage="80" keywordseo="syrma" source="Orion">Syrma</keyword> SGS IPO received an overwhelming response, experts believe that another IPO season is not on the horizon.</li><li>The regulatory approval for at least 30 IPOs received in the last financial year will lapse by the end of the year. 31 IPOs received an approval this financial year.</li><li>Companies will watch the performance of the next few IPOs and the secondary markets before opening issues, say two market experts that Business Insider spoke to. </li></ul>Even before the public offer of <keyword id="14738256" type="General" weightage="50" keywordseo="syrma-sgs-tech" source="Orion">Syrma SGS Tech</keyword> was oversubscribed 33 times last week, three companies – Digit General Insurance, Concord Biotech and <keyword id="1126663" type="General" weightage="50" keywordseo="balaji-solutions" source="Orion">Balaji Solutions</keyword> – had filed their papers with the markets regulator in the third week of August to go public. Another IPO DreamFolks is all set to open for subscription this week. Yet, experts are not convinced that another IPO season is on the horizon. “It’s too early to say that the season of IPOs has started. A lot of companies in the pipeline will be watching for two things – the response that the next few IPOs get and also the market momentum. If the markets remain volatile, companies will allow their approvals to lapse,” Pranav <keyword id="3517398" type="General" weightage="80" keywordseo="haldea" source="Orion">Haldea</keyword>, managing director of Prime Database told Business Insider India. While a few companies like PharmEasy, Inox Green Energy and <keyword id="12727880" type="General" weightage="50" keywordseo="nandan-terry" source="Orion">Nandan Terry</keyword> withdrew their draft papers, scrapping IPO plans, at least four more companies’ approvals will lapse by the end of August. The approvals for another 15 will lapse by the end of the year. “IPOs are a once-in-a-lifetime event for companies and they would want to do it at the perfect time. If the market is not giving them the valuation that they expect, they will not go ahead,” said Haldea. Only <keyword id="4093871" type="General" weightage="50" keywordseo="utkarsh-small-finance-bank" source="Orion">Utkarsh Small Finance Bank</keyword> has re-filed its IPO papers, even as many more companies that planned to go for an IPO in the last financial year let it lapse. Over 32 IPOs that received a go ahead in 2021-22 have been put on hold, while 31 more received an approval in 2022-23. Of these 31 from the current financial year, only Syrma and DreamWorks have gone ahead and opened their issues to the public. A lot of companies file DRHPs assuming issues will sail through but a number of factors like valuations and demand for fresh issuances among domestic and foreign investors play a key role. “There are 10-12 conditions that they have in mind during the filing and many of these conditions may change,” said Arun <keyword id="6358183" type="General" weightage="80" keywordseo="kejriwal" source="Orion">Kejriwal</keyword>, founder of Kejriwal Research &amp; Investment Services. A lot of IPOs from last year that are still in the pipeline, had issue sizes between ₹400-800 crore. However there are a few like Emcure <keyword id="6363818" type="General" weightage="50" keywordseo="pharma" source="Orion">Pharma</keyword> which had plans to raise over ₹4,500 crore as well. The decision to go ahead with an IPO will not depend on the size of the issue, but on pricing, says Kejriwal. “When the momentum is good, subscriptions and listings are good, it’s possible to slip in a bad issue but not when the market is still picking up. After <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> capped the amount that HNIs (high networth individuals) can borrow to invest in IPOs to ₹1 crore, they will have to invest their own funds and that will make a huge difference to subscriptions,” says Kejriwal. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-indias-real-gully-boy-vidit-aatrey-of-meesho-is-taking-the-entrepreneurial-dream-deep-inside-bharat/articleshow/93702491.cms">Meet India’s Real Gully Boy: Vidit Aatrey of Meesho is taking the entrepreneurial dream deep inside Bharat</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/upi-transactions-will-remain-free-government-says-it-has-no-plan-to-charge-them/articleshow/93702248.cms">UPI transactions will remain free, government says it has no plan to charge them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-slips-517-points-goes-below-the-60000-mark/articleshow/93701486.cms">Sensex slips 517 points, goes below the 60,000-mark</a>

Too early to say primary market is seeing a revival

After a report claimed that edtech major <keyword id="6630114" type="General" weightage="80" keywordseo="unacademy" source="Orion">Unacademy</keyword> has laid off employees from its job hiring platform <keyword id="12215842" type="General" weightage="80" keywordseo="relevel" source="Orion">Relevel</keyword>, the company's Founder and CEO <keyword id="1727930" type="General" weightage="80" keywordseo="gaurav-munjal" source="Orion">Gaurav Munjal</keyword> said on Wednesday that there were no layoffs. "No layoffs. We have moved some team members to other Businesses of the Group though. Team worked really really hard to ensure that we find a role for everyone," <keyword id="6320" type="General" weightage="100" keywordseo="munjal" source="Orion">Munjal</keyword> tweeted. A user replied: "That's nice Gaurav. Nice to read this. Compassion towards employees and fitting them in other divisions". MoneyControl first reported that Relevel "halved its team to 700 employees" amid the economic meltdown. Relevel was launched in 2021 by <keyword id="3886063" type="General" weightage="50" keywordseo="shashank-murali" source="Orion">Shashank Murali</keyword>, Saksham Keshri and Prakash Kumar, on the back of strong traction witnessed in user growth, hiring company partnerships, and placement rate. Last year, Relevel raised $20 million from its parent edtech company Unacademy. In April, Unacademy laid off nearly 600 employees, contractual workers and educators, about 10 per cent of its 6,000-strong workforce across the group. As the funding winter hit edtech startups and unicorns in India, Unacademy founders and management took pay cuts. In an internal email last month, Munjal said that even though the company has more than Rs 2,800 crore in the bank, "we are not efficient at all". "We spend crores on travel for employees and educators. Sometimes it's needed, sometimes it's not. "There are a lot of unnecessary expenses that we do. We must cut all these expenses. We have a strong core business. We must turn profitable asap," the email read. "We will be shutting down certain businesses that have failed to find the product market fit (PMF) like the <keyword id="14425744" type="General" weightage="50" keywordseo="global-test-prep" source="Orion">Global Test Prep</keyword>," he told the employees. Unacademy last month said that a small fraction of its workforce (2.6 per cent) has been asked to go as part of a performance improvement programme (PIP). Nearly 150 employees (2.6 per cent) from Unacademy's PrepLadder team were laid off. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/syrma-sgs-technology-ipo-last-day-to-subscribe-grey-market-premiums-at-25/articleshow/93625416.cms">Syrma SGS Technology IPO: Last day to subscribe, grey market premiums at ₹25</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/markets-to-open-slightly-lower-on-us-fed-signals-of-more-rates-hikes/articleshow/93628803.cms">Markets to open slightly lower on US Fed signals of more rates hikes</a>

Unacademy founder Gaurav Munjal says its job hiring platform will see no layoffs

Chip maker <keyword id="28115" type="General" weightage="20" keywordseo="intel" source="Orion">Intel</keyword> on Friday announced its collaboration with eight domestic Electronics Manufacturing Services (EMS) companies and Original Design Manufacturers (ODMs) to accelerate manufacturing of "Make-in-India" laptops. The companies Intel has collaborated with include Bhagwati Products Ltd, Dixon Technologies India Ltd, Kaynes Technology India Ltd, Optiemus Electronics Ltd, Panache Digilife Ltd, Smile Electronics Ltd, Syrma SGS Technology Ltd, and VVDN Technologies Private Ltd. This initiative underscores Intel's dedication to accelerate technology-led growth in alignment with the <keyword id="6354869" type="General" weightage="20" keywordseo="make-in-india" source="Orion">Make in India</keyword> initiative. "I am very pleased that global organisations like Intel are partnering with India, helping to build and catalyse the electronics manufacturing ecosystem for laptops and compute," Rajeev Chandrasekhar, Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship, said in a statement. "This aligns with Prime Minister Narendra Modi's vision to drive India's Digital Economy to $1 trillion and enable the electronics manufacturing ecosystem to contribute $300 billion by 2025-26," he added. Under this collaboration, Intel shared its expertise to facilitate the production of complete entry-level laptops in India, which included utilising state-of-the-art SMT lines, setting up a quality control process for components and even benchmarking of finished products. The chip maker also provided support to ODMs spanning both <keyword id="19375174" type="General" weightage="50" keywordseo="semi-knocked-down" source="Orion">Semi Knocked Down</keyword> (SKD) and Completely Knocked Down (CKD) processes. "By enabling the laptop manufacturing process -- from surface mount technology assembly to finished product -- we are not only meeting the demands of the Make in India initiative but also contributing to the technological progress of the nation," said Santhosh Viswanathan, VP &amp; MD, India Region, Intel. In addition, Intel will be hosting the India Tech Ecosystem Summit later in November, bringing together a vast number of local manufacturers to showcase a much larger portfolio of devices being made in India. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank">Cello World IPO allotment – how to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/sports/webstories/biggest-margin-wins-for-india-in-odis/slidelist/104934176.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/biggest-margin-wins-for-india-in-odis/slidelist/104934176.cms" target="_blank">Biggest margin wins for the Men in Blue in ODIs – from Sri Lanka to Pakistan</a> <a href="https://www.businessinsider.in/tech/gadgets/news/hp-omen-16-gaming-laptop-review/articleshow/104945732.cms">HP Omen 16 laptop review – A powerful laptop with a fine display</a>

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Too early to say primary market is seeing a revival

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Unacademy founder Gaurav Munjal says its job hiring platform will see no layoffs

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Intel partners with eight domestic manufacturers for 'Make in India' laptops

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