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Just ahead of its mega <keyword id="20008249" type="General" weightage="20" keywordseo="FPO" source="keywords">FPO</keyword> opening to <keyword id="21332860" type="General" weightage="20" keywordseo="public-investors" source="keywords">public investors</keyword>, <keyword id="19899016" type="General" weightage="20" keywordseo="Vodafone-Idea" source="keywords">Vodafone Idea</keyword> (<keyword id="20062540" type="General" weightage="20" keywordseo="vil" source="keywords">VIL</keyword>) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the <keyword id="20132985" type="General" weightage="20" keywordseo="telco" source="keywords">telco</keyword>. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively. In a notification to the exchanges on Wednesday, VIL said it has allotted 490.9 crore shares to 74 funds at Rs 11 apiece, which is also the upper end of the price band. This translated into a transaction size to Rs 5,400 crore. Of the total allocation to <keyword id="21330641" type="General" weightage="20" keywordseo="anchor-investors" source="keywords">anchor investors</keyword>, 79.52 crore stocks, or 16.2 per cent of the total, were allocated to five domestic mutual fund through a total of 11 schemes. Those who were allotted shares include GQG Partners Emerging Markets Equity Fund, Fidelity, UBS Fund Management, Abu Dhabi Investment Authority, Australian Super, Troo Capital, Morgan Stanley, Citigroup Global Markets Mauritius, and Jupiter Fund Management. Additionally, domestic investors, including Motilal Oswal Mutual Fund, HDFC Mutual Fund, SBI General Insurance and Quant Mutual Fund, were allocated shares in the anchor round. The Rs 18,000-crore FPO of Vodafone Idea will open for public subscription on April 18 and conclude on April 22, marking the biggest FPO in the country. The price band has been set at Rs 10-11 per share. Prior to this, the largest FPO in the Indian market was a Rs 15,000 crore share-sale by YES Bank in 2020. The fundraise would give the ailing telco the firepower to improve its positioning in the Indian telecom market, where it currently trails larger rivals such as Reliance Jio and Bharti Airtel, by a wide margin. The funds will also help VIL shore up finances for the much-delayed <keyword id="20366727" type="General" weightage="20" keywordseo="5G-rollout" source="keywords">5G rollout</keyword> and strengthening 4G services, and payment of vendor dues. On April 6, the VIL Board approved raising Rs 2,075 crore from promoter Aditya Birla Group and increasing its authorised share capital to Rs 1 lakh crore. Earlier this year, Vodafone Idea had outlined plans to raise Rs 45,000 crore through a mix of equity and debt as it looked to match services offered by rivals Reliance Jio and Bharti Airtel and arrest an alarming and prolonged subscriber churn. VIL has also been fighting a desperate battle for survival, saddled with debt of Rs 2.1 lakh crore and quarterly losses. According to Trai data, Vodafone Idea continued to bleed on the subscriber front. VIL lost 15.2 lakh wireless subscribers, plunging its mobile subscriber base to 22.15 crore in January, in sharp contrast to subscriber gains by Jio and Airtel.

Ahead of FPO, Vodafone Idea garners Rs 5,400 cr from anchor investors

Anand Rathi, Vedanta, ITC and other top stocks to watch out for on December 14

<ul><li>India’s telecom regulator wants to make mobile banking services via <keyword id="6489284" type="General" weightage="80" keywordseo="ussd" source="Orion">USSD</keyword> free.</li><li>It is however facing opposition from two of India’s leading telecom players, <keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> and <keyword id="1553175" type="General" weightage="100" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword>.</li><li>While Airtel wants to be compensated if the charges are reduced to zero, Vodafone Idea stated that the costs would be substantial.</li></ul>Airtel and Vodafone Idea, India’s two leading telecom players, do not want feature phone users to use mobile banking services via USSD for free. The telcos reportedly revealed this in response to a proposal by the Telecom Regulatory Authority of India (<keyword id="6356988" type="General" weightage="20" keywordseo="trai" source="Orion">TRAI</keyword>) to reduce <keyword id="12723416" type="General" weightage="20" keywordseo="USSD-charges" source="Orion">USSD charges</keyword> for mobile banking to zero. Currently, this costs ₹0.50 per session, down from the initial charges of ₹1.50 per session. USSD is short form for unstructured supplementary service data. Mobile banking services through USSD can be accessed using the *99# short code. Users can retrieve their mobile balance, mini statement, generate one-time passwords for banking services, and transfer funds via this service. Announcing its proposal, TRAI said, “The Authority proposes to revise the framework for USSD-based mobile banking and payment services by prescribing a “nil” charge per session as rationalisation is a necessity to protect interests of target user groups and promote digital financial inclusion.” In response to this, Airtel said it should be suitably compensated by the concerned stakeholders – likely the government and banks – if the charges are reduced to zero, according to a report by <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/telcos-against-zero-tariffs-for-ussd-based-services/articleshow/88246579.cms?from=mdr">ET Telecom</a>. Vodafone Idea was quoted as saying that the “costs per unit would be substantial” if the volumes of <keyword id="12724373" type="General" weightage="20" keywordseo="USSD-mobile-banking" source="Orion">USSD mobile banking</keyword> transactions are concerned. Business Insider India has reached out to both Airtel and Vodafone Idea for further comments. We will update the story if and when we receive a response. <cmsannotation type="cmsannotation" annotationid="What is USSD and why is it important for Indian users?" comment="subhead" text="What is USSD and why is it important for Indian users?">What is USSD and why is it important for Indian users?</cmsannotation> USSD is a feature that allows users without smartphones to access services like peer-to-peer payments, checking bank account balances and other banking services, without the need for a smartphone or mobile internet services. Essentially, access to banking services via USSD benefits feature phone users the most – there are over 350 million feature phone users in India, according to an IDC report. Apart from this, the Reserve Bank of India announced last week that it will soon expand the availability of the ubiquitous <keyword id="2736678" type="General" weightage="20" keywordseo="unified-payments-interface" source="Orion">Unified Payments Interface</keyword> (UPI) service to feature phones as well, allowing hundreds of millions of users to make quick payments without smartphones. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a> <a href="https://www.businessinsider.in/stock-market/news/tega-industries-vedanta-spicejet-and-other-top-stocks-to-watch-out-for-on-december-13/slidelist/88247469.cms">Tega Industries, Vedanta, SpiceJet and other top stocks to watch out for on December 13</a> <a href="https://www.businessinsider.in/stock-market/news/makemyindias-ipo-has-been-subscribed-six-times/articleshow/88209139.cms">It’s the last day to subscribe to MapmyIndia’s IPO, which is oversubscribed by six times</a>

TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea

<ul><li>Today is the second day to subscribe to footwear retailer Metro Brands, which will close its IPO on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹25 in the grey market while the price band is at ₹485 to ₹500.</li></ul>Today, December 13, is the second day to subscribe to marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India. The initial public offering (IPO) has been subscribed just 27% on the first day of the bidding process. Meanwhile, the grey market premium of the company’s shares has been falling since the last couple of days from ₹80 to now at ₹25 per share. The company was performing well <a href="https://www.businessinsider.in/business/corporates/news/metro-brands-that-is-open-for-ipo-is-aggressively-planning-on-opening-new-stores-despite-covid-19s-impact-on-its-profits/articleshow/88204220.cms">until COVID-19 </a>hit the entire footwear retailing segment because of the pandemic led restrictions across the country. Its profitability slipped in FY21 because of the pandemic. However, most analysts suggest subscribing to the issue because of the growth opportunities in the footwear segment along with the company’s strong financial track record. <div type="image" title="metro cagr" height="900" width="1200" msid="88253021" hostid="261"></div> <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Brokerages </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;">Hem 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;">IDBI Capital </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;">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 for long term </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;">BP Wealth </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 listing gains </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;">Nirmal Bang 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 for long term </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;">Angel One </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;">Neutral </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;">Ventura 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;">Not Rated </td></tr></tbody><tbody></tbody></table> Analysts at Hem Securities recommend subscribing to the issue because of the experienced management team at Metro Brands and its strong track record of growth, profitability and financial discipline. Metro Brands operate 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Categories and players in India’s footwear industry <div type="image" title="ventura peer pyramid" height="900" width="1200" msid="88253050" hostid="261"></div> “Due to [the] pandemic, the industry has opened up much more growth opportunities like transition from large unorganised segments to organised players, many acquisition prospects, e-commerce expansion etc. We expect Metro Brands to continue the growth momentum, given above set-up in addition to tying up with third party brands like FitFlops. We recommend “Subscribe for long term,” said analysts at Nirmal Bang Securities. A report by Choice Broking firm says that Metro Brands is one of the largest footwear retailers with around 3-4% market share in the organised market space. “It has reported strong financial performance with robust cash flow generation. The company is [sic] consistently paying dividend [sic] since FY2000. Thus considering the above observations, we assign a “Subscribe for long Term” rating for the issue,” said the report. <div type="image" title="metro ope marging" height="900" width="1200" msid="88253088" hostid="261"></div> Analysts at Angel One believe that the company is demanding an expensive valuation. “The company’s historical net profit growth is low compared to its peer Relaxo Footwears. However, Metro Brands has asset light business, strong brands and wide range of products but we believe that these positives are captured in the valuations commanded by the company. Thus, we have a NEUTRAL rating on the issue,” said the brokerage firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomato-backed-grofers-rebrands-to-blinkit-as-focus-shifts-to-10-minutes-delivery/articleshow/88251384.cms">Grofers puts on a new name, Blinkit, to show how the focus of its business is changing</a>

The grey market is losing interest in Metro Brands’ IPO, but the analysts are still gung ho ⁠— here’s what the data have to say

<ul><li>Tarsons Products announced its share allotment status on Tuesday.</li><li>The grey market premium of the Indian labware company Tarsons Products is ₹160.</li><li>The IPO of the company was subscribed 77.49 times on the last day of bidding.</li></ul>The allotment status of Indian labware company Tarsons Products was announced on Tuesday and by now the investors, who unfortunately did not get the shares, should start getting their refunds. If you have not checked whether you received the initial public offering (IPO) allotment or not, <a href="https://www.businessinsider.in/stock-market/news/tarsons-products-ipo-heres-how-to-check-your-allotment-status/articleshow/87857321.cms">click here </a>and follow the procedure. All the investors who got the allotment will receive the shares in their demat account on the date of listing, which in this case is November 26. Usually every applicant gets a message on their registered phone number, highlighting whether the funds are blocked or unblocked. Blocked funds indicate that the shares have been transferred to the investor, whereas the unblocked fund means that the cash has been transferred back to the investor’s bank account. Investors receive a validity period while making the payments for the shares. The IPO amount is usually refunded one day later the IPO allotment or before the end of the validity period. <div type="image" title="If you missed Tarson Products’ IPO allotment, here’s what you should know" msid="87870784" hostid="261"></div> Tarsons Products opened its IPO on November 15 to November 17, at a price band of ₹635-₹662 per share. The IPO received subscriptions for 77.49 times the number of shares offered in the three days of IPO bidding process. The grey market premium of the company’s shares show a premium of ₹160 on November 23. The company has raised over ₹1,024 crore through the IPO of a fresh issue of equity shares worth ₹150 crore and an offer for sale (OFS) of 1.32 crore equity shares that will be sold by promoters and an investor. Tarsons Products is engaged in designing, developing, manufacturing and supplying a diverse range of quality labware products used in laboratories across research organisations, academic institutes, pharmaceutical firms, diagnostics companies and hospitals. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/jio-is-slowing-down-in-the-race-to-500-million-subscribers/articleshow/87862415.cms">Jio is slowing down in the race to 500 million subscribers – a goal set by none other than Mukesh Ambani</a> <a href="https://www.businessinsider.in/business/startups/news/nobroker-is-the-38th-indian-startup-to-be-valued-over-a-1-billion-in-2021/articleshow/87867289.cms">NoBroker is the 38th Indian startup to be valued over a billion dollars this year</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-hikes-tariffs-by-up-to-500-for-its-popular-plans/articleshow/87864183.cms">Vodafone Idea hikes tariffs by up to ₹500 for its popular plans</a>

If you missed Tarson Products’ IPO allotment, here’s what you should know

<ul><li>The IPO of state-run RailTel Corp will remain open till February 18.</li><li>The shares were trading at a premium of <a href="https://www.ipowatch.in/2020/11/railtel-ipo-gmp-grey-market-premium-today.html">₹35-40</a> in the grey market, ahead of the IPO.</li><li>Nearly all the brokerages have given a ‘subscribe’ rating for the issue citing long term as well as listing gains.</li><li>Its net profit margin of 13% in FY 2020 was the highest among the Key Telecom Companies and Key IT/ICT companies in India.</li></ul>The ₹819 crore ($112 million) initial public offering (IPO) of state-run RailTel Corp of India is now open for public subscription. The IPO will remain open till February 18. RailTel is a government-owned information and communications technology (ICT) infrastructure provider firm and one of India's largest neutral telecom infrastructure providers. This would be the seventh initial public offerings this year, and second by the Ministry of Railways after it recently pared stake in Indian Railway Finance Corporation IPO— which listed at a 4% discount last month. Nearly all the brokerages have given a ‘subscribe’ rating for the issue citing long term as well as listing gains. According to investment experts about the RailTel business, the best thing is its exclusive right of generating additional revenues by creating nationwide broadband and multimedia networks by laying optical fibre cable by using the right of way along railway tracks. Per red herring prospectus, as of January 31, the company had the exclusive right of way along 67415 route kilometres connecting 7321 railway stations for laying optical fibre cable. Streets View: <keyword id="7626629" type="UNKNOWN" weightage="20" keywordseo="RailTel-IPO">RailTel 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;">ACMIIL </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;">ICICI Direct </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;">None </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;">Hem 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></tbody></table> RailTel Corp of India IPO: All you need to know <ul><li>The company is engaged in the modernisation of the existing telecom system for train control, operation and safety and generates additional revenues by creating nationwide broadband and multimedia networks by laying optical fibre cables along railway tracks.</li><li>It is worth noting that RailTel will not receive any proceeds from the offer for sale and the same will go to the Government of India, the promoter of the company.</li><li>Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE.</li><li>ICICI Securities, IDBI Capital Markets &amp; Securities and SBI Capital Markets are the book running lead managers for its public offering IPO.</li></ul>Strong financials, healthy business growth, soaring grey market premium — here’s all that excites investment experts Excited investors are ready to pay more for its shares The public issue received positive reviews from the brokerages, making the grey market pay a hefty premium for its shares. The shares were trading at a premium of <a href="https://www.ipowatch.in/2020/11/railtel-ipo-gmp-grey-market-premium-today.html">₹35-40</a> a piece in the grey market, ahead of the IPO. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Outlook and Valuations According to Hem Securities, the company’s valuation is fully priced. But looking after the industry dynamics of telecom and telecom data services where the broadband market is gaining pace this will boost the company's performance in the future. “Also the edge which company holds over its peers in terms of financial performance makes this issue attractive to deploy the funds in,” the brokerage added. Assessment of the key telecom service companies in India <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;">As of March 20 </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;">Airtel </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;">BSNL </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;">MTNL </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;">Rail Tel </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;">Jio </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;">Vodafone Idea </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;">Compounded annual revenue growth rate in the 5 years ending March 2020 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0% </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;">-11% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-12% </td><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;">19% </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;">64% </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;">7% </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;">Net profit margin </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;">-66% </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;">-83% </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;">-167% </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;">13% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </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;">-164% </td></tr></tbody></table>*Source: Hem Securities Strong Financials The company has established a consistent track record of financial performance and growth. Its net profit margin of 13% in FY 2020 was the highest among the Key Telecom Companies and Key IT/ICT companies in India. <div type="image" title="RailTel Financials" msid="80974790" hostid="261"></div> As of January 31, the company had 3 lakh users of ‘RailWire’ service. The number of subscribers has increased 2.55 times since April 30 last year. SEE ALSO: <a href="https://www.businessinsider.in/thelife/news/jaguar-land-rover-plans-to-go-fully-electric-by-2039-and-said-it-would-spend-3-5-billion-on-the-goal-each-year/articleshow/80925836.cms">Jaguar Land Rover plans to go fully electric by 2039, and said it would spend $3.5 billion on the goal each year</a> <a href="https://www.businessinsider.in/defense/news/list-of-10-latest-defence-deals-that-india-has-signed-in-the-last-six-months/slidelist/80926534.cms">List of 10 latest defence deals that India has signed in the last six months</a>

The $112 million IPO of Indian Railways owned RailTel is now open for subscription — Here’s why analysts think the IPO is attractive

<ul><li><keyword id="2645087" type="General" weightage="20" keywordseo="rategain" source="Orion">RateGain</keyword> intended to raise ₹1,335 crore through this public issue.</li><li>RateGain is seeking a valuation of $600 million at the upper end of the price band.</li><li>It is a SaaS platform, which solely focuses on the travel and hospitality segment.</li></ul>The allotment status of Rategain’s initial public offering (IPO) is likely to be announced today, December 14. The issue has been subscribed 17 times in the three days of its public issue between December 7 to December 9, 2021. The issue reserved for non-institutional buyers — like companies and high networth individuals — has been subscribed over 42 times. The company received bids for 30 crore equity shares versus the issue size of 1.7 crore shares up for sale. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Investor Category </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;">Subscription </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;">Qualified Institutions </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;">8.42 </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;">Non-Institutional Buyers </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;">42.04 </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;">Retail Investors </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;">8.08 </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;">Employees </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;">1.37 </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;">Total </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;">17.41 </td></tr></tbody><tbody></tbody></table> The company intended to raise ₹1,335 crore through this public issue. The price range of RateGain’s IPO has been set at ₹405-₹425. The minimum lot size is 35 shares, meaning a retail investor would have to shell out ₹14,875 to buy one lot. The grey market premium (GMP), premium at which investors are comfortable buying the shares before it gets listed on a stock exchange, was at ₹37 on December 13. The company will likely list on the<a href="https://www.businessinsider.in/business/news/rategains-ipo-opens-today-grey-market-premium-at-85/articleshow/88126120.cms"> stock exchange on December 17</a>. Here is how to check RateGain’s IPO allotment status on the stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘RateGain’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘RateGain’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the 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 you subscribed to and the number of shares allotted to you. RateGain — founded in 2004 by Bhanu Chopra — solely focuses on software stack for travel and hospitality segment. The company’s softwares covers an entire set of data points including pricing, rating, ranking, availability, room description, cancellation policy, discounting and packages, among other things. It has over 1,434 customers — across the hotel, hospitality and online travel agency (OTA) segment — spread across 110 countries. It’s clientele includes Lemon Tree, InterContinental Hotels Group, Kessler Collection, GroupOn and Sabre GLBL. RateGain is seeking a valuation of ₹4,537 crore (about $600 million) at the upper end of the price band. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms" data-type="tilCustomLink">After giving up on 90-minute delivery five years ago due to lack of profitability, Grofers is now chasing 10-minute delivery</a> <a href="https://www.businessinsider.in/business/telecom/news/ussd-mobile-banking-charges-trai-vs-airtel-vodafone-idea/articleshow/88249773.cms">TRAI’s push to make mobile banking services via USSD free faces stiff opposition from Airtel, Vodafone Idea</a> <a href="https://www.businessinsider.in/stock-market/news/shares-of-tega-industries-list-at-753-while-the-shares-were-allotted-at-453-per-share/articleshow/88249181.cms">Tega Industries meets its GMP of ₹300 and lists at 66% premium</a>

RateGain’s IPO allotment status would be announced today — GMP at ₹37

<ul><li>The grey market premium on <keyword id="2177564" type="PERSON" weightage="20" keywordseo="Rolex-Rings">Rolex Rings</keyword>' shares had fallen from near ₹1,450 before the IPO to a little over ₹1,300 a share now. </li><li>The stock will list on BSE and NSE tomorrow (August 9).</li><li>The auto components maker, which is currently under a debt restructuring programme, got tremendous response for its IPO from retail and institutional investors. </li><li>Check out the latest news and updates only on <a href="https://www.businessinsider.in/" data-type="tilCustomLink" target="_blank">Business Insider</a>. </li></ul>The shares of Rolex Rings will list on the stock exchanges, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 9 after ₹731 crore initial public offering (IPO). Here is how you can check <keyword id="11815911" type="UNKNOWN" weightage="20" keywordseo="rolex-rings-ipo-allotment">Rolex Rings IPO allotment</keyword> status : <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Rolex Rings‘.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Glenmark Life Sciences ’. </li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Rolex Rings makes components that go into automobiles. The company is under a corporate debt restructuring (CDR) cell as it was unable to pay its debt on time to banks and financial institutions. You can read the details of the company's financial health <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-to-help-company-for-payment-of-loan-and-interest/articleshow/84818263.cms" data-type="tilCustomLink" target="_blank">here</a>. However, institutional investors subscribed for 143.5 times the number of shares allotted for the category during the IPO. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 451.276pt;" class="redcator-table-advance"></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;">Category of investors </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;">IPO subscription (compared to shares offered) </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;">Institutional </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;">143.5 times </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;">Non-institutional </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;">360.11 times </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;">Retail </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;">24.49 times </td></tr></tbody><tbody></tbody></table> The grey market premium (GMP) on Rolex Rings' shares had reduced to a little over ₹1,300 a share compared to the near ₹1,450, which was the prevailing price before the IPO, according to reports. Grey market premium, typically, affects the price at which the shares are likely to list. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cartrade-raises-rs-900-crore-from-anchor-investors-ahead-of-its-ipo-issue-opens-on-monday/articleshow/85123261.cms">CarTrade raises Rs 900 crore from anchor investors ahead of its IPO, issue opens on Monday</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms" data-type="tilCustomLink" target="_blank">Don’t subscribe to an IPO just because it saw great interest from institutional investors ⁠— Indigo Paints, Mrs Bectors Food, and Ujjivan are examples to look at</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/what-if-vodafone-idea-dies/articleshow/85127937.cms">What if Vodafone Idea dies?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/neeraj-chopra-the-spearman-of-india/slidelist/85130069.cms">Neeraj Chopra — the ‘SpearMan’ of India</a>

Check if Rolex Rings shares have been allotted to your account

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> leads globally in adopting Gen<keyword id="6355999" type="General" weightage="20" keywordseo="ai" source="Orion">AI</keyword> technologies as a vast percentage of organisations incorporate <keyword id="17930214" type="General" weightage="20" keywordseo="GenAI" source="Orion">GenAI</keyword> in operations, and a majority of the populace expects increased investments and budget allocations towards Gen AI in the next 2-3 years, according to a recent report. Search analytics firm Elastic on Monday released the Generative AI Report that gathered insights from 3,200 IT decision-makers and influencers across sectors in the US, Europe, and Asia-Pacific. In the Asia Pacific and Japan region, 1,200 were surveyed, including 300 from India. According to the report, 81 per cent of Indian organisations have already implemented GenAI, making India the leader in adopting generative artificial intelligence technologies. The study also predicted promising investment trends in near future, with about 94 per cent of respondents anticipating increased investments and budget allocations towards GenAI initiatives in the next 2-3 years. However, almost all of the respondents expressed concerns about processing and using their data. "As many as 99 per cent of respondents expressed concerns about processing and using their data, highlighting the need for organisations to work with GenAI providers who can help safeguard sensitive information. The report further observed that 73 per cent of respondents in India were confident that conversational data search capabilities would significantly enhance operational efficiency. "The disruptive potential of GenAI has captured the imaginations and budgets of India's IT and data leaders, as seen by India's lead in <keyword id="20292786" type="General" weightage="20" keywordseo="GenAI-adoption" source="keywords">GenAI adoption</keyword>," said Karthik Rajaram, area vice president and general manager, India, Elastic. "However, while the commitment of many organisations to quickly harness the transformative opportunity of GenAI to drive innovation and efficiency is exciting, it's businesses that adopt search-powered GenAI grounded by business context that will lead and uncover the insights needed to securely innovate, build more efficient businesses, and pioneer new customer experiences." SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a>

India leads in GenAI adoption, investment trends likely to rise in coming years: Report

Defending champions <keyword id="19906065" type="General" weightage="20" keywordseo="Chennai-Super-Kings" source="keywords" meta.keywordsubtype="org" meta.entityname="Chennai Super Kings" meta.hostid="261" meta.entityid="Chennai Super Kings">Chennai Super Kings</keyword> (CSK) will host the <keyword id="19920572" type="General" weightage="20" keywordseo="Lucknow-Super-Giants" source="keywords" meta.keywordsubtype="org" meta.entityname="Lucknow Super Giants" meta.hostid="261" meta.entityid="Lucknow Super Giants">Lucknow Super Giants</keyword> (LSG) in their reverse fixture of the <keyword id="19911541" type="General" weightage="20" keywordseo="IPL-2024" source="keywords">IPL 2024</keyword> on Tuesday. LSG are fifth with four wins in seven games while CSK are fourth with similar number wins. In their last encounter last week, LSG registered an eight-wicket win over the defending champions CSK. The two teams have met four times in the tournament so far of which one match was washed out. CSK v LSG head-to-head 4- Lucknow Super Giants: 2 Chennai Super Kings: 1 Abandoned: 1 CSK v LSG match time: The match starts at 7:30 PM IST (2:00 PM GMT) with the toss taking place half an hour before the match i.e., 7:00 PM (1:30 PM GMT) CSK v LSG match venue: MA Chidambaram Stadium, Chennai Live broadcast of CSK v LSG match on television in India: CSK v LSG match will be broadcast live via Star Sports Network. Live stream in India: The live streaming of CSK v LSG will be available on JioCinema. Squads: Chennai Super Kings: Ajinkya Rahane, Rachin Ravindra, Ruturaj Gaikwad(c), Ravindra Jadeja, Shivam Dube, Sameer Rizvi, Moeen Ali, MS Dhoni(w), Deepak Chahar, Tushar Deshpande, Mustafizur Rahman, Matheesha Pathirana, Shardul Thakur, Shaik Rasheed, Nishant Sindhu, Mitchell Santner, Daryl Mitchell, Aravelly Avanish, Maheesh Theekshana, RS Hangargekar, Simarjeet Singh, Mukesh Choudhary, Prashant Solanki, Ajay Jadav Mandal, Richard Gleeson Lucknow Super Giants: Quinton de Kock, KL Rahul(w/c), Nicholas Pooran, Marcus Stoinis, Deepak Hooda, Ayush Badoni, Krunal Pandya, Matt Henry, Ravi Bishnoi, Mohsin Khan, Yash Thakur, Arshin Kulkarni, Krishnappa Gowtham, Yudhvir Singh Charak, Manimaran Siddharth, Arshad Khan, Prerak Mankad, Amit Mishra, Kyle Mayers, Shamar Joseph, Ashton Turner, Naveen-ul-Haq, Devdutt Padikkal, Mayank Yadav SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

IPL 2024: CSK v LSG overall head-to-head; When and where to watch

<keyword id="20509941" type="General" weightage="20" keywordseo="spectrum-auction" source="keywords">Spectrum auction</keyword> for <keyword id="22185968" type="General" weightage="20" keywordseo="mobile-radiowaves-services" source="keywords">mobile radiowaves services</keyword> worth Rs 96,000 crore ended with <keyword id="20055672" type="General" weightage="20" keywordseo="bids" source="keywords">bids</keyword> worth about Rs 11,000 crore, according to sources. The <keyword id="19900449" type="General" weightage="20" keywordseo="government" source="keywords">government</keyword> has put over 10,500 Mhz spectrum in eight <keyword id="21197262" type="General" weightage="20" keywordseo="frequency-bands" source="keywords">frequency bands</keyword> -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction. "There were no fresh bids in the morning session. The auction has ended with bids worth about Rs 11,000 crore," the source said, adding that <keyword id="19951944" type="General" weightage="20" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="261" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> has emerged as the biggest bidder in the auction. During the last auction in 2022, which turned out to be a seven-day affair, a record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold, with billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s <keyword id="19906886" type="General" weightage="20" keywordseo="Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio" meta.hostid="261" meta.entityid="Jio">Jio</keyword> emerging as the top bidder, cornering nearly half of all the airwaves (worth Rs 88,078 crore). At that time, telecom tycoon Sunil Mittal's Bharti Airtel made a successful bid of Rs 43,084 crore, while Vodafone Idea bought Spectrum for Rs 18,799 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank">Stanley Lifestyles IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank">OnePlus Nord CE 4 Lite vs Poco X6 – which phone should you buy under ₹25,000?</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank">IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore</a>

Spectrum auction ends with bids worth ₹11,000 crore, Bharti Airtel emerges as the biggest bidder

<ul><li><keyword id="19896911" type="General" weightage="20" keywordseo="Reliance-Jio" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Jio" meta.hostid="261" meta.entityid="Reliance Jio">Reliance Jio</keyword> has become the world's largest mobile operator in terms of data traffic.</li><li>The total traffic on the <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase.</li><li>This surge is attributed to the growing adoption of <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> and Home services.</li></ul>Reliance Jio, the telecom giant of India, has become the world's largest mobile operator in terms of data traffic, surpassing <keyword id="20669190" type="General" weightage="20" keywordseo="China-Mobile" source="keywords" meta.keywordsubtype="org" meta.entityname="China Mobile" meta.hostid="261" meta.entityid="China Mobile">China Mobile</keyword>. The announcement came on Monday as Jio revealed its quarterly results, showcasing staggering numbers and milestones achieved in various segments. As of March 2024, Jio boasts a subscriber base of 481.8 million, out of which 108 million subscribers are on Jio's True5G Standalone network. The number reflects Jio's stronghold in the Indian telecom market. According to a press release, the total traffic on the Jio network has reached 40.9 Exabytes, marking a 35.2 per cent year-on-year increase. This surge is attributed to the growing adoption of 5G and Home services. Notably, 28 per cent of the traffic comes from 5G subscribers, indicating a swift transition towards next-generation connectivity. Additionally, Jio's Fixed Wireless Access (FWA) services have contributed significantly to the data traffic. Since the onset of the COVID-19 pandemic, there has been a dramatic 2.4x increase in annual data traffic, with per capita monthly data usage skyrocketing to 28.7 GB from just 13.3 GB three years ago. This surge underscores the growing reliance on digital connectivity in India. Commenting on the results, <keyword id="3820" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="Orion">Mukesh Ambani</keyword>, Chairman and Managing Director of Reliance Industries Limited, expressed his satisfaction with the company's performance and its contribution to the Indian economy. He highlighted the significant achievements, including becoming the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits. Ambani said, "Initiatives across RIL's businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy. It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits." Ambani also emphasized Jio's role in driving the digital transformation in India, from upgrading 2G users to smartphones to leading the effort in producing AI-driven solutions. He noted, "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India. From upgrading the hitherto 2G users to smartphones, to leading the effort of producing AI-driven solutions, Jio has proved its capability in strengthening the nation's digital infrastructure." He reiterated Jio's commitment to strengthening the nation's digital infrastructure and its continued efforts to provide innovative solutions to consumers. The company's retail arm, Reliance Retail, also showed robust growth, with a 36 per cent increase in footfalls and strong digital commerce platforms offering a broad brand catalogue. "Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space", said Ambani. In addition to its telecom and retail segments, Reliance Industries Limited has shown resilience in its Oil to Chemicals (O2C) segment, despite challenging market conditions. The KG-D6 block has achieved significant production milestones, accounting for 30 per cent of India's domestic gas production. Ambani emphasised, "Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability of the O2C segment. Downstream chemical industry experienced increasingly challenging market conditions through the year." He added, "Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance. The KG-D6 block has achieved 30 MMSCMD of production and now accounts for 30 per cent of India's domestic gas production." In terms of financial performance, Reliance Jio has achieved several remarkable milestones. The consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) at Rs 178,677 crore, while the consolidated Profit Before Tax (PBT) has surpassed Rs 100,000 crore. The company's market capitalization has crossed Rs 20,00,000 crore, further solidifying its position as one of India's most valuable companies. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a>

Reliance Jio emerges as World's largest mobile operator in data traffic, surpassing China mobile

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate's consolidated net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in January-March quarter of the 2023-24 fiscal compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing. The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-December period. For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore earnings in the preceding financial year. Reliance also became the first Indian company to hit Rs 10 lakh crore turnover in FY24 when revenue from operations rose 2.6 per cent from Rs 9.74 lakh crore in 2022-23. The oil-to-chemicals (O2C) business, the main milch cow, posted a rise in profitability annually as well as sequentially, while retail business' earnings rose on new store openings despite lower footfalls. The firm helmed by billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> saw telecom revenues soar as it outpaced competition in subscriber addition and data traffic. While quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 14.3 per cent year-on-year to Rs 47,150 crore, registering growth across all businesses, the revenue from operations rose almost 11 per cent to Rs 2.64 lakh crore. The mainstay oil refining and petrochemicals business, called O2C, posted a 11 per cent rise in revenue and a 3 per cent higher EBITDA at Rs 16,777 crore in Q4. This was primarily because of "advantageous" sourcing of feedstock (crude oil) for refining business and use of ethane for making chemicals as well as higher domestic product placement, a company statement said, adding exports were down 8.5 per cent. With the consumer base swelling to 481.8 million from 470.9 million at the end of December on a flat per-user revenues of Rs 181.7, Reliance <keyword id="21397660" type="General" weightage="20" keywordseo="Jio-Infocomm-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Infocomm Ltd" meta.hostid="261" meta.entityid="Jio Infocomm Ltd">Jio Infocomm Ltd</keyword> - the digital services business - posted a 12 per cent rise in net profit at Rs 5,583 crore in the fourth quarter of FY24. Also, aiding the business was rise in data traffic to 40.9 billion GB in January-March from 38.1 billion GB in the preceding quarter. For the full year, Jio posted a profit of Rs 21,424 crore as compared to Rs 19,124 crore in FY23. Profits from the retail business climbed 11.7 per cent to Rs 2,698 crore as store count rose to 18,836 from 18,774. Store footfalls dropped to 272 million from 282 million in October-December 2023 but were higher than 219 million recorded in January-March 2023. Oil and gas EBITDA soared 47.5 per cent to Rs 5,606 crore as higher gas volumes partly offset lower price realisation. The firm's flagship KG-D6 block in Krishna Godavari basin in the Bay of Bengal is now producing about 30 million standard cubic metres per day of gas and 23,000 barrels a day of oil/condensate. The company said its outstanding debt rose to Rs 3.24 lakh crore from Rs 3.11 lakh crore in December-end. After accounting for cash in hand, net debt at Rs 1.16 lakh crore as on March 31 was lower than Rs 1.25 lakh crore a year back. Mukesh Ambani, Chairman and Managing Director of <keyword id="20076630" type="General" weightage="20" keywordseo="reliance-industries-limited" source="keywords">Reliance Industries Limited</keyword>, said all segments of business have posted a robust financial and operating performance. "This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1 lakh-crore threshold in pre-tax profits," he said. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services, he said. "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India." <keyword id="19901342" type="General" weightage="20" keywordseo="reliance-retail" source="keywords">Reliance Retail</keyword>, he said, continued to provide customers endless choices through its robust omni-channel presence. "We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue," Ambani said. Strong demand for fuels globally, and limited flexibility in refining system worldwide supported margins and profitability of the O2C segment. "Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance," he said. "We remain committed to our projects and initiatives, including those in the new energy segment, which will bolster the company, and help it deliver sustainable growth for the future," he added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

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