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Revenues of organised <keyword id="21758362" type="General" weightage="100" keywordseo="gold-jewellery-retailers" source="keywords">gold jewellery retailers</keyword> are expected to surge by 22-25% this fiscal year, driven by the sharp reduction in import duties on <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> in the July Budget, according to a <keyword id="20874793" type="General" weightage="20" keywordseo="CRISIL-report" source="keywords">CRISIL report</keyword>. A recent analysis by CRISIL Ratings, which examined 58 gold jewellery retailers representing a third of the <keyword id="21165181" type="General" weightage="20" keywordseo="organised-sector" source="keywords">organised sector</keyword>'s revenues, indicates that the sector will benefit from improved <keyword id="19900859" type="General" weightage="20" keywordseo="working-capital" source="keywords">working capital</keyword> management. Although many retailers plan significant store expansions--estimated at 12-14% of existing stores--lower gold prices will reduce inventory costs, providing working capital relief. The organised jewellery sector, which accounts for just over a third of the overall market, is poised for a stronger financial performance compared to its unorganised counterpart. The steep reduction in <keyword id="20069572" type="General" weightage="20" keywordseo="import-duty" source="keywords">import duty</keyword> has come at a crucial time for the industry, as retailers prepare for the festive and marriage seasons. Following the price decline, volumes are expected to grow by 3-5% this fiscal year, reversing earlier projections of stagnant demand. Gold prices had been steadily rising since February 2024, which had subdued consumer demand and led to revenue growth driven solely by higher realisations rather than increased sales volumes. Himank Sharma, Director at CRISIL Ratings, highlighted the timely impact of the duty cut and said, "The duty cuts to their decadal lows have come at an opportune time for the gold jewellery retailers as they start stocking for the festive and marriage seasons from the latter half of August." He added, "However, the inventory losses on the existing stock due to the price cuts will be partially mitigated by the reduced spends on marketing and discounts, as demand revives. All said <keyword id="19957745" type="General" weightage="20" keywordseo="profitability" source="keywords">profitability</keyword> will see a marginal dip on-year to 7.1-7.2%." Despite the pressure on profitability, retailers' cash flows will improve due to higher revenues, enabling them to pursue expansion plans. Store expansions, expected to increase by 12-14%, will require higher inventory levels. However, the lower input costs resulting from reduced gold prices will balance out the additional working capital requirements. Gaurav Arora, Associate Director at CRISIL Ratings, added, "Gold jewellery retailers will maintain comfortable financial metrics this fiscal, with total outside liabilities to tangible net worth (TOL/TNW) and interest coverage ratios remaining around 1.0 and 9 times, respectively. These will be moderately better than our earlier expectations, keeping credit profiles stable." As the festive season approaches, gold prices remain around 17% higher than last year's average, which is expected to sustain demand and further drive revenues in the second half of the fiscal year. However, potential volatility in gold prices, changes in government regulations, and shifts in consumer sentiment will need to be closely monitored. The combination of reduced prices, increased demand, and improved working capital management is expected to keep the financial outlook for gold jewellery retailers positive, despite the slight dip in profitability. The reduced duty has caused retail gold prices to fall by Rs 4,500-5,000 per 10 grams, leading to increased demand for gold jewellery. The growth projection, 500-600 basis points higher than earlier estimates of 17-19%, is fuelled by higher volumes as more consumers are enticed by the lower prices.

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25% this fiscal, notes CRISIL report

Mumbai, Jan 3 () With the subsidy budget getting exhausted for the fertiliser industry by the end of December 2019, the working capital borrowings of the industry will rise, according to a report.
 The government had allocated Rs 800 billion in the Union Budget for FY19-20 for payment of the fertiliser subsidy, it remains inadequate to meet the total requirement of the fertiliser subsidy, which stands at around Rs 1,250 billion, according to the report by rating agency Icra.
 The subsidy requirement of Rs 1,250 billion includes a subsidy backlog which is expected to increase to Rs 450 billion by the end of FY2019-20, it added.
 Of the total budgetary allocation, the government had released nearly 84 per cent by the end of October 2019, it said.
 With the subsidy budget expected to be over by the end of December 2019, the subsidy receivables will rise till the end of FY2019-20, as a result, the working capital borrowings of the industry will rise leading to moderation in the credit metrics, Icra noted.
 "We do not expect any additional budgetary allocation for the fertiliser industry in the current fiscal from the government as the possibility of the Centre missing its fiscal deficit target looms large. However, the government is expected to sanction a Special banking Arrangement (SBA) in Q4 FY20, which will help in reducing interest outgo to a small extent," Icra Senior Vice-President and Group Head, Corporate Ratings, K Ravichandran said.
 Overall, he said, the government needs to increase the budgetary allocation in the upcoming Union Budget for 2020-21 to around Rs 100 billion in order to reduce the subsidy backlog.
 "The increased budgetary allocation if continued for a couple of years will wipe out the subsidy backlog and pave the way for implementation of the true form of Direct Benefit Transfer (DBT) in the fertiliser sector," he added.
 With a late surge in the monsoon, the soil moisture and healthy reservoir levels, the sowing levels in the rabi season have witnessed healthy growth, the report said.
 Icra expects healthy outlook for fertiliser sales in the current rabi season with DAP/NPK offtake expected to grow at a robust pace as there has been significant moderation in the retail prices year-on-year driven by a fall in the raw material prices.
 Urea demand is expected to remain stable as the offtake by farmers remain more or less uniform, given fixed and low retail price, it added.
 "The overall fertiliser offtake is expected to be healthy in the current rabi season. The profitability of the urea players is expected to be stable given the stable pooled gas prices over the past 12-14 months and steady volume offtake. Profitability of the P&amp;K players is expected to improve in H2 FY20 as key raw material prices, that is phosphoric acid and ammonia prices have softened," Icra Senior Analyst, Corporate Ratings, Varun Gogia opined.
 While retail price of P&amp;K players has been reduced, Icra expects slight expansion in the contribution margin for DAP/NPK players which should support profitability, he said. 
 "Nonetheless, the credit metrics of the industry are expected to remain subdued given the continued delay in the subsidy disbursement by the government," Gogia added. SM MR

Working capital borrowings of fertiliser sector set to rise: Icra

<ul class="summary-list"><li>Tesla closed 22% higher on Thursday, its best day in years after posting strong earnings.</li><li>Analysts at JPMorgan caution that some of the automaker's growth drivers aren't sustainable.</li></ul>Tesla's earnings beat fueled a huge rally for the stock on Thursday, but JPMorgan is urging caution.Analysts at the bank said that while the <a target="_blank" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10?_gl=1*1b1iqo9*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTcyOTc3NDk1OC4zMDguMS4xNzI5Nzc1Nzk4LjYwLjAuMA..#wedbush-analyst-dan-ives-sticks-with-bullish-view-on-tesla-despite-recent-volatility?utm_medium=ingest&amp;utm_source=markets">strong earnings</a> should boost the stock in the short term, the automaker's growth drivers might not be sustainable in the coming quarters.The analysts correctly called the big reaction in the stock on Thursday post-earnings, with shares rising 22%, but they added that they see some caveats to the company's outlook. "However, we at the same time see several potentially unsustainable drivers of 3Q's better earnings and cash flow performance."The analysts pointed in particular to Tesla's near-record sales of regulatory credits. Tesla can sell credits it receives for producing electric cars to other companies that don't meet government emissions requirements.It's a hugely profitable business, and the credits generated $739 million for Tesla in the most recent quarter, the second-highest amount after the previous quarter's $890 million. While the credits are a huge profit driver in the near term, JPMorgan analysts said that won't last as other automakers introduce their own EVs and buy fewer credits from competitors like Tesla."Investors should be cautious about capitalizing the earnings generated from these (100% margin) credits, given that one of the tenets of the Tesla bull case is the large scale electrification of the automotive industry," the analysts wrote. "As other automakers broaden their electric offerings, they should over time be in a position to generate their own credits, negating and eventually eliminating the flow of competitor payments to Tesla."The analysts also pointed to large working capital benefits, which they say are unsustainable.Tesla saw a large beat on free cash flow in the most recent quarter, but that was in part due to a large increase in the amount due to its suppliers and other accrued liabilities, the analysts say.Tesla has only ever generated more cash from an increase in accounts payable in one other quarter, but at that time, deliveries and production both grew much faster, the analysts said. They wrote in the note that this suggests that this driver of the quarter's strong cash flow is unsustainable and possibly reversing."Automakers are expected to generate cash from working capital as sales rise, given timing differences arising from the favorable trade terms they enjoy with suppliers, but digging more deeply into the benefit, we note only in one quarter has Tesla ever generated more cash from an increase in accounts payable than it did in 3Q24," the analysts said.The automaker reported earnings per share of $0.62 for the third quarter, outpacing analysts' expectations of $0.51. Its operating profit came in at $2.7 billion, exceeding expectations of $2.0 billion and marking a 54% increase from a year ago. The company also announced that its Cybertruck <a target="_blank" href="https://www.businessinsider.com/tesla-cybertruck-profit-2024-10">has reached profitability</a>.JPMorgan rates Tesla "Underweight" with a December 2025 price target of $135 a share, 48% lower than its Thursday closing price of $260.48.

Tesla earnings have reinvigorated investors but some growth drivers look 'unsustainable,' JPMorgan says

Enviro Infra Engineers, which is involved in the development of turnkey projects of <keyword id="19979438" type="General" weightage="20" keywordseo="sewage-treatment-plants" source="keywords">sewage treatment plants</keyword> and sewerage systems, on Monday fixed a price band of ₹140-148 per share for its ₹650 crore <keyword id="19913114" type="General" weightage="20" keywordseo="Initial-Public-Offering" source="keywords">Initial Public Offering</keyword> (IPO). The initial share sale will open for public subscription on November 22 and conclude on November 26. The bidding for anchor investors will open for a day on November 21, the company announced. The city-based company's proposed IPO is a combination of a fresh issue of 3.87 crore equity shares and an Offer For Sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stake in Enviro Infra Engineers. At the higher end of the price band, the IPO is valued at ₹650 crore, placing the company's market capitalization at approximately ₹2,600 crore. Proceeds from the fresh issue to the tune of ₹181 crore will be used to meet the working capital requirements, ₹100 crore will be used for payment of debt, ₹30 crore will be infused into the company's subsidiary, EIEL Mathura Infra Engineers, to build 60 million litres per day Sewage Treatment Plant (STP) at Mathura in Uttar Pradesh. Besides, a portion will be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of water and wastewater treatment plants and water supply scheme projects for government authorities/bodies. The treatment process installed by the company at most of the STPs is zero liquid discharge-compliant and the treated water can be used for horticulture, washing, refrigeration, and other process industries. Hem Securities is the sole book-running lead manager of the public issue. The equity shares of the company are expected to be listed on the BSE and NSE on November 29. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/kawasaki-ninja-zx-4rr-launched-in-india-priced-at-9-42-lakh/slidelist/115332842.cms" target="_blank">Kawasaki Ninja ZX-4RR launched in India priced at ₹9.42 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms" target="_blank">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a>

Enviro Infra Engineers IPO to open on Nov 22; eyes ₹650 crore

<ul class="summary-list"><li>Boeing is looking to raise nearly $19 billion to combat its lack of cash.</li><li>It comes after Boeing reported a net loss of $6.1 billion in the third quarter.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/boeings-ceo-facing-challenges-management-test-2024-10">Boeing</a> needs cash, and it's trying to raise almost $19 billion as the company looks to boost its liquidity.The planemaker announced Monday that it is offering 90 million common shares and about $5 billion of depositary shares for sale. Based on Friday's closing share price of $155.01, that's worth about $18.95 billion in total.This news comes after Boeing filed a <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/12927/000119312524237177/d871346ds3.htm">prospectus</a> earlier this month stating that it may sell up to $25 billion in securities, including bonds, new shares, and stock options.That's on top of the <a target="_blank" class="" href="https://www.businessinsider.com/boeing-raising-10-billion-strike-job-cuts-2024-10">$10 billion credit agreement</a> that it entered into with Bank of America, Citibank, Goldman Sachs, and JPMorgan Chase, according to a <a target="_blank" rel="" class="" href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000012927/000001292724000068/ba-20241014.htm">regulatory filing on October 14.</a><a target="_blank" class="" href="https://boeing.mediaroom.com/2024-10-28-Boeing-Announces-Launch-of-Concurrent-Offerings-of-Common-Stock-and-Depositary-Shares">Boeing said in a statement</a> that it "intends to use the net proceeds from the Offerings for general corporate purposes, which may include, among other things, repayment of debt, additions to working capital, capital expenditures, and funding and investments in the Company's subsidiaries."When the prospectus was filed, the company described the fundraising efforts as "two prudent steps to support the company's access to liquidity," adding that it would help the company "navigate through a challenging environment."News of the offering comes as the company faces a troubled financial outlook.Last Wednesday, Boeing reported a <a target="_blank" rel="" class="" href="https://www.businessinsider.com/boeing-q3-results-earnings-loss-ceo-vows-iconic-again-2024-10">net loss of $6.1 billion</a> in its third-quarter earnings. It recorded a loss of more than $1.4 billion in the previous quarter.Boeing's shares are down nearly 40% since the start of the year, and credit ratings agencies have said its bonds are at risk of being <a target="_blank" class="" href="https://www.businessinsider.com/boeing-credit-downgrade-sp-moodys-strike-production-cash-debt-2024-10">downgraded to junk status</a>.Also in its third-quarter earnings, it reported an increase in its spending on its <a target="_blank" class="" href="https://www.businessinsider.com/boeing-lost-250-million-on-starliner-2024-10">Starliner project by $250 million</a>. To date, it has spent $1.85 billion on the Starliner program.2024 has been a <a target="_blank" class="" href="https://www.businessinsider.com/timeline-of-boeing-problems-alaska-airlines-strike-layoffs-starliner-max-2024-10">challenging year for Boeing</a>.In January, an Alaska Airlines Boeing 737 Max lost a door plug in midair — sparking regulatory scrutiny and customer frustrations that saw former CEO Dave Calhoun resign.Boeing is also facing an ongoing workers' strike. It started on September 13 after union members <a target="_blank" rel="" class="" href="https://www.businessinsider.com/boeing-workers-preparing-to-strike-rejected-contract-wage-increase-2024-9">rejected a proposal</a> to hike wages <a target="_blank" rel="" class="" href="https://www.businessinsider.com/seattle-boeing-workers-unhappy-raise-pension-contract-negotiations-25-increase-2024-9">by 25% over four years</a>. Last Wednesday, Boeing workers rejected a proposal with a 35% wage increase over four years.Ron Epstein, a Bank of America analyst, estimated the <a target="_blank" rel="" class="" href="https://www.businessinsider.com/boeing-strike-costing-50m-per-day-as-negotiations-restart-2024-10">strike was costing Boeing $50 million daily</a>.Earlier this month, <a target="_blank" class="" href="https://www.businessinsider.com/boeing-layoffs-strike-777x-delay-freighter-2024-10">Boeing announced plans to lay off</a> 10% of its workforce and a further delay to its much-anticipated 777X program.News of the share offering looks set to push Boeing's stock price higher on Monday, with shares up 0.8% in premarket trade.

Boeing is looking for a $19 billion boost

<ul class="summary-list"><li>The University of California, Berkeley, is the top producer of alumni starting tech companies.</li><li>Founded by Jeremy Fiance, The House Fund targets Berkeley-affiliated startups like Databricks.</li></ul>In the last year, tech investors have plowed tens of millions of dollars into Perplexity, the developer of a search engine built from scratch with artificial intelligence. The two-year-old startup <a target="_blank" class="" href="https://www.businessinsider.com/perplexity-raising-new-funding-generative-ai-2024">takes in cash like oxygen,</a> having raised <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-rapid-funding-rounds-2024-9">back-to-back funding rounds</a> just months apart, and is <a target="_blank" class="" href="https://www.wsj.com/tech/ai/ai-startup-perplexity-in-funding-talks-to-more-than-double-valuation-to-8-billion-54d36787">said to be in talks</a> to raise a fourth round that would value the startup at $8 billion.Landing a spot on Perplexity's cap table is fiercely competitive, making it all the more noteworthy that The House Fund, a bespoke venture capital firm born from the University of California, Berkeley's ecosystem, secured a place.In 2016, tech investor Jeremy Fiance set up a venture capital firm at his alma mater to invest in startups with ties to top-tier public schools. From an office across from the College of Computing, Data Science, and Society, investors at The House Fund scour their networks for students, faculty, and alumni working to build the next Perplexity, whose CEO Aravind Srinivas is a Berkeley alum, or Databricks, one of the <a target="_blank" class="" href="https://www.businessinsider.com/databricks-acquires-startup-lilac-ai-to-beef-up-its-llm-offerings-2024-3">world's most important data science firms</a> with a private valuation of $43 billion, started by a group of seven Berkeley researchers. The House Fund has backed both."There are only so many companies that matter every year, full stop, in venture," said Zachary Hargreaves, a managing partner at The House Fund. Each year, more firms are "birthed out of Berkeley."<div type="image" title="Two men looking relaxed smile for a photo against a black backdrop." height="2250" width="3000" msid="114433088" hostid="261" sizebytes="116306"></div>In early 2020, Hargreaves <a target="_blank" class="" href="https://www.businessinsider.com/30-rising-venture-capitalist-investors-silicon-valley-tech-2018-4">left Founders Fund</a>, where he worked closely with startups like SpaceX and Stemcentrx, to run his own playbook as an advisor and angel investor. During this period, an old classmate from Berkeley, Fiance, started asking his advice about which companies in the portfolio he should reinvest in."I was learning more and more about what The House Fund is from the outside in," Hargreaves said. "It feels very small but then from the inside out, it's actually very big in terms of the opportunity set."In the two years since Hargreaves went full-time, The House Fund has deployed over $125 million into companies. His move from Founders Fund to The House Fund hasn't been previously reported.Investors pay much attention to Stanford and the Massachusetts Institute of Technology for their conveyor belts of entrepreneurial talent. Neither have spawned quite as many startup founders in the last decade at Berkeley. According to <a target="_blank" class="" href="https://pitchbook.com/news/articles/pitchbook-university-rankings">PitchBook data</a>, Berkeley has the highest tally of alumni entrepreneurs who have raised venture capital of any public or private school worldwide.Hargreaves predicts that the group will grow as the use of artificial intelligence makes it cheaper and faster for students and alumni to spin up new businesses. "You can actually be three kids in a garage and launch pretty fierce products," he said.With Hargreaves on board, Fiance hopes to invest later in companies it previously backed. His hiring gives the firm the resources and knowledge to help founders shape their businesses into the next generation of Berkeley-born unicorns, as well as diligence them for potential follow-on financing. The House Fund said it can write checks up to $10 million.The House Fund has raised over $330 million from backers, including the Berkeley Endowment Management Company, UC Investments (the office that manages the working capital, retirement savings, and endowment funds for the University of California system), and Ahoy Capital, a boutique fund manager.Hargreaves put the firm's value add this way: "If we are on your cap table, we are a shortcut to anything Berkeley."

These tech investors are trawling UC Berkeley to fund the next Perplexity or Databricks

<ul class="summary-list"><li>Mark Cuban says he doesn't plan to enter politics.</li><li>"No, hell no," Cuban said when Wired's Lauren Goode asked him about it.</li></ul>Billionaire investor <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-sell-dallas-mavericks-leave-shark-tank-2023-11">Mark Cuban</a> says he isn't interested in running for office."No, hell no," Cuban told <a target="_blank" class="" href="https://www.wired.com/story/big-interview-after-shark-tank-mark-cuban-just-wants-to-break-shit-especially-the-prescription-drug-industry/">Wired's Lauren Goode</a> in an interview published Thursday.The "Shark Tank" star made these remarks as part of a wide-ranging interview where he talked about his <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/mark-cuban-donald-trump-i-dont-hate-him-at-all-2024-9">political views</a> and his low-cost online pharmacy, <a target="_blank" class="editor-rtfLink" href="https://www.businessinsider.com/mark-cuban-cost-plus-drugs-company-online-pharmacy-challenges-2023-1">Cost Plus Drugs</a>."Who would put themselves through that? I can do more from the private sector," Cuban told Goode."You can't be president and change health care. You've got to get Congress behind you, and this, and that," he added. "As an entrepreneur, you can change anything. Jensen Huang, what he's doing with Nvidia, he can pretty much define what's going to happen by how he prices things." To be sure, there has long been speculation that Cuban could <a target="_blank" class="" href="https://www.businessinsider.com/dont-be-surprised-if-mark-cuban-runs-for-president-2023-11">run for president one day</a>.Back in June 2020, Cuban told CNN senior political commentator David Axelrod that he seriously considered a presidential run as an independent candidate that year."My family voted it down," Cuban told Axelrod. "Otherwise I would have."Rumors, however, began swirling again last year after Cuban <a target="_blank" class="" href="https://www.businessinsider.com/why-mark-cuban-sold-dallas-mavericks-2023-12">sold his majority stake in the Dallas Mavericks</a> and announced his <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-says-leaving-shark-tank-after-season-16-2023-11">departure from "Shark Tank."</a>But Cuban shot down the speculation again when he told NBC News in November that he had "no plans to run."Still, Cuban — who is backing Vice President <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-kamala-harris-only-candidate-in-founder-mode-2024-9">Kamala Harris</a> this election — told Bloomberg in March that he <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-wishes-wave-magic-wand-get-rid-both-parties-2024-8">isn't a fan of the two-party system</a>."You know, parties vote unilaterally, right? They all vote the same despite representing districts or states that are all across the country. That's just insane," Cuban said in an interview with Bloomberg's "Working Capital," which aired in August.Cuban did not immediately respond to a request for comment sent outside regular business hours.

Mark Cuban says he doesn't plan to run for office when he can make game-changing moves without being president

New Delhi: After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in September. IPOs scheduled for next week, beginning October 7, are <keyword id="22922418" type="General" weightage="20" keywordseo="Garuda-Construction" source="keywords">Garuda Construction</keyword> and Engineering on the main board and <keyword id="23436926" type="General" weightage="20" keywordseo="Shiv-Texchem" source="keywords" meta.keywordsubtype="org" meta.entityname="Shiv Texchem" meta.hostid="153" meta.entityid="Shiv Texchem">Shiv Texchem</keyword> on the SME segment. Garuda Construction is seeking to raise Rs 264 crore, and Shiv Texchem is aiming for over Rs 101 crore through their respective IPOs available for public subscription during October 8-10. The stock market has seen a significant correction in the <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> since the start of October amid intensifying conflict between Israel and Iran. Despite the temporary slowdown, overall, the outlook for the <keyword id="19926041" type="General" weightage="100" keywordseo="IPO-market" source="keywords">IPO market</keyword> is promising, with 26 firms proposing to raise Rs 72,000 crore presently holding Sebi's approval while another 55 companies looking to garner about Rs 89,000 crore are awaiting the regulator's clearance, according to the Primedatabase. This month will see <keyword id="19908548" type="General" weightage="20" keywordseo="Hyundai-Motor-India" source="keywords">Hyundai Motor India</keyword> Ltd, the Indian arm of South Korean automaker Hyundai, hitting the primary market to raise around Rs 25,000 crore. The company's IPO is likely to be launched on October 14, according to sources. If the offering proceeds as planned, it will surpass Life Insurance Corporation's (LIC) public offering of Rs 21,000 crore, becoming the largest IPO in India's history. Moreover, 63 companies have already mobilised around Rs 64,000 crore via mainboard, marking a 29 per cent increase from Rs 49,436 crore collected by 57 firms through the route in 2023. The strong momentum in IPO markets is being driven by several key macroeconomic, sector-specific factors and the willingness of funds to look at new ideas. In particular, strong inflows into domestic mutual funds and robust capital formation across corporate India are playing key roles, experts said. Garuda Construction and Engineering's IPO is a mix of fresh issue of 1.83 crore equity shares and an offer of sale (OFS) of 95 lakh equity shares by promoter PKH Ventures. The price band has been fixed at Rs 92 to Rs 95 per share. About Rs 100 crore from its fresh issuance proceeds will be utilised for working capital requirements and the balance towards general corporate purposes, including unidentified inorganic acquisitions. Shiv Texchem's IPO is a completely new offering of over 61 lakh shares and is a book-built issue of Rs 101.35 crore. It has set a price band of Rs 158 to Rs 166 per equity share for the IPO. Further, the SME IPO of Khyati Global Ventures, which opened for public subscription on October 4, will close on October 8. Additionally, six companies from the SME segment are set to list in the coming week. HVAX Technologies and Saj Hotels will debut on October 7, followed by Subam Papers and Paramount Dye Tec on October 8. NeoPolitan Pizza and Foods will begin trading on October 9, with Khyati Global Ventures to follow on October 11.

You Searched For "Working capital" and got 8 results

Budget import duty cut will boost gold jewellery retailers' revenues by 22-25% this fiscal, notes CRISIL report

ANI

Working capital borrowings of fertiliser sector set to rise: Icra

PTI

Tesla earnings have reinvigorated investors but some growth drivers look 'unsustainable,' JPMorgan says

Kelly Cloonan

Enviro Infra Engineers IPO to open on Nov 22; eyes ₹650 crore

PTI

Boeing is looking for a $19 billion boost

Aditi Bharade,Pete Syme

These tech investors are trawling UC Berkeley to fund the next Perplexity or Databricks

Melia Russell

Mark Cuban says he doesn't plan to run for office when he can make game-changing moves without being president

Kwan Wei Kevin Tan

IPO market braces for brief slowdown, 2 new issues targeting Rs 365 crore next week

PTI

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