<ul><li><keyword id="22929981" type="General" weightage="20" keywordseo="Resourceful-Automobile" source="Orion">Resourceful Automobile</keyword>, a <keyword id="22931365" type="General" weightage="20" keywordseo="Yamaha-dealership" source="keywords">Yamaha dealership</keyword> with two showrooms has received an amazing response for its SME IPO.</li><li>The company’s IPO has been subscribed over 400 times, receiving bids for over ₹4,700 crore.</li><li>Here’s everything you need to know about the <keyword id="22929982" type="General" weightage="20" keywordseo="Resourceful-Automobile-ipo" source="Orion">Resourceful Automobile IPO</keyword>.</li></ul>In a surprising turn of events, Resourceful Automobile, a company looking to raise funds through an SME IPO (small and medium enterprises) has received an amazing response, shocking everyone.<br /><br />The company, which operates two Yamaha bike showrooms in New Delhi was looking to raise ₹11.99 crore through an initial public offering (IPO). It ended up receiving applications worth over ₹4,760 crore as the IPO has been subscribed over 418 times.<br /><br />      <div type="Article" hostid="261" msid="112798622" title="Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more" mstype="2" mssubtype="0"></div><br />The company received bids for 40.76 crore shares against the offered 10.25 lakh shares. The company had set the share price at ₹117 per share with a lot size of 1,200 shares per application.<br /><br />The IPO is set to be listed on the BSE SME platform on August 29.<br /><br /><h2>Just eight employees</h2>Resourceful Automobile has just eight employees, three in legal and finance, two in sales, two in operations and one in human resources.<br /><br />A company that operates just two showrooms receiving such a response has resulted in mixed responses from social media, while some are talking about the expected returns, there have been calls for stricter regulation to protect the interests of retail investors.<br /><br />The company will use the funds raised to open new showrooms, repay debt and meet the working capital requirements.<br /><br /><h2>Analysts had asked to avoid the IPO</h2>Several analysts had recommended users not apply for the IPO as the company operates in a highly competitive segment of two-wheeler dealerships and has been inconsistent in its financial performance.<br /><br />For the year ending February 2024, the company reported a revenue of ₹17.23 crore with a profit of ₹1.52 crore. In March 2023, the company reported a revenue of 19.38 crore and a profit of just 41.5 lakh.<br /><br /><h2>Why did the IPO receive such a response?</h2>While its financials were not strong, one of the reasons for the robust subscription was the high expected return.<br /><br />The company is currently enjoying a grey market premium of ₹85 per share, which is around 73% of its share price.<br /><br /><h2>NSE tightens the norms for SME IPOs</h2>The NSE had already tightened the norms for SME IPOs earlier this month. Starting from September 2024, only companies with positive free cash flow to equity for at least two of the last three financial years will be allowed to list in the SME segment.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a><br /><br /><a href="https://www.businessinsider.in/stock-market/webstories/premier-energies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112803763.cms">Premier Energies IPO – Price band to risk factors, all you need to know</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms"><strong>Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</strong></a><br />

Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!

Mumbai, Feb 19 () Maxxis India on Wednesday said it has partnered Yamaha for supplying tyres in India and plans to corner at least 15 per cent of the country's two-wheeler tyre market in the next five years.<p> Maxxis India, which is a part of the Taiwan-based Maxxis Group,  already has similar tie-ups with Hero MotoCorp and Honda Motorcycle &amp; Scooter India.</p><p> As part of the tie-up, Yamaha's 125 cc BSVI- compliant Ray ZR and Fascino range of scooters as well as BSVI-compliant model of Ray ZR Street Rally 125 FI will come fitted with Maxxis tyres, a company release said.</p><p> The company has already started production of tyres with particular specifications to cater to the requirement for both range of scooters, it said.</p><p> Maxxis India plans to corner at least 15 per cent of the demand by 2023.</p><p> "As we begin our 5th year of operations in India, this association will further strengthen our portfolio for scooter tyres in India. We are hopeful that the relationship will help us create a new market for Maxxis Tyres and penetrate deeper in rural markets," Bing-Lin Wu, Marketing Head, Maxxis India said.</p><p> As a part of this association, Maxxis Tyres will be available at select Yamaha and Maxxis dealerships across India, the company said, adding, the tyres will be an Original Equipment (OE) fitment to Yamaha scooters.</p><p> The partnership will give help to capture 15 per cent of India's two-wheeler tyre market within five years, Maxxis India said. India market is touted to play a vital role in achieving Maxxis's global vision to become one of the top five tyre manufactures in the world by 2026, it said.</p><p> Apart from catering to the domestic tyre market, the product portfolio from the Sanand facility will be exported to South Asia and will further expand to Africa and Middle East countries in the coming years, as per the company, which also has plans to set up five more plants in the country, which will also cater to the four-wheeler tyres market.</p><p> Maxxis India' Sanand manufacturing facility in Gujarat has a capacity to produce around 20,000 tyres and 40,000 tubes per day.</p> Maxxis currently serves as an original equipment manufacturer (OEM) tyre supplier to Honda, Hero Moto Corp, Yamaha Motors (two-wheelers),  Maruti Suzuki, Mahindra, Tata and Jeep in India.  IAS  DRR

Maxxis India partners Yamaha for supplying tyres

Chennai, Mar 29 (): Two-wheeler major India YamahaMotor on Sunday announced it was extending the LifetimeQuality Care Approach to its customers for an additional 60days.    "Under the current circumstances (lockdown due to COVID-19), we feel a few of our customers may struggle to get theirvehicles serviced on time or avail of warranty benefits," thecompany said in a statement.    Accordingly, the company said free service valid tillApril 15 and normal warranty would be extended till June2020.    Annual maintenance contracts expiring between March 15and April 15 would also be extended till June 2020.    "We have informed our dealerships to ensure thesebenefits be passed on to the customers," it said.    Two and three-wheeler maker TVS Motor said, "We all needto support the action being taken at national and local-levels in the interest of entire community."    "At TVS Motor Company, we want to reassure that we aretaking necessary and comprehensive action to connect with ourcustomers and support their well-being," the city-basedcompany said in a statement.    The company said its toll-free number 18002587111 wouldcontinue to operate to address queries and concerns on realtime basis while the entire service support team wasaccessible at customercare@tvsmotor.com    The company said its service associates followprecautionary health (in view of coronovirus) norms asstipulated by the authorities to provide a safe experience.    The company said free service of vehicles due betweenMarch and April 2020 would be redeemable till June 2020.    The area office team in the respective state would beavailable for seamless support to customers in this hour ofcrisis, it added.  VIJNVG   NVG

India Yamaha Motor, TVS unveil customer-friendly initiatives

New Delhi, Jul 7 () Yamaha Motor India (YMI) group of companies on Tuesday announced a special finance scheme for frontline warriors of COVID-19 under which EMIs for the first three months are reduced by 50 per cent. <p> The initiative is targeted towards providing exclusive and attractive finance schemes to help raise purchasing conveniences for the frontline warriors, YMI said in a statement. </p><p> The scheme can be availed of on new Yamaha two-wheeler purchase at all authorised dealerships of the company in India, it added. </p><p> The company said its special finance scheme is announced in the context of its continuous efforts to support the frontline warriors of the pandemic in India. </p> In May, the company's permanent employees as well as some trainees based out of three plants -- Kanchipuram (Tamil Nadu), Surajpur (Uttar Pradesh) and Faridabad (Haryana), and employees at other offices donated a total of Rs 61.5 lakh from their pay for April to support the government's fight against the pandemic. RKL DRR DRR

Yamaha Motor India announces spl finance scheme for frontline COVID-19 warriors

New Delhi, Apr 26 () Leading two-wheeler makers Honda Motorcycle and Scooter India (HMSI) and India Yamaha Motor are hopeful of resuming manufacturing operations at their respective plants after the lockdown is lifted amid supply chain and workforce related challenges.  <p> While HMSI has sought permission to open its plants, Yamaha is also keen to start production in compliance with new protocols set by the government.  </p><p> HMSI Director Sales and Marketing Yadvinder Singh Guleria told  that the company has applied for permissions from respective state governments to start production at its plants.  </p><p> "At the same time, we are in the process of recalibrating our standard operating procedures (SOPs) and preparations are on to meet 100 per cent government guidelines for safety of employees and stakeholders before resuming actual production," he added.  </p><p> HMSI has four plants located at Manesar (Haryana), Tapukara (Rajasthan), Narsapura (Karnataka) and Vithalapur (Gujarat), with total installed production capacity at 64 lakh units per annum.  </p><p> Although the companies are preparing to restart operations, it may take them some time to actually kickstart the process with many of the component suppliers still shut.  </p><p> Besides, it may take some time before the workers return after having left for their native places. </p><p> India Yamaha Motor Senior Vice President (Manufacturing) Sanjiv Paul said the company's foremost priority is to ensure safety of its employees.   </p><p> The company is exploring every possibility to restart its manufacturing operations in compliance with the SOPs issued by the government for disinfection of facilities and maintenance of social distancing guidelines at all factory locations.  </p><p> "Another important aspect is to have a smooth supply chain in place after the lockdown so that our manufacturing operations can be run without any disruptions," Paul noted. </p><p> Many suppliers are in containment zones, so the company needs to evaluate their situation, he added. </p><p> Availability of manpower with the suppliers could be another challenge as many workers might have returned to their native places, Paul said.  </p><p> He added that despite government allowing movement of trucks for goods and carriage, the drivers' availability is still limited.   </p><p> "As it is extremely crucial to have uninterrupted supply of parts from suppliers in order to sustain a seamless operation, we may require some time to restore every quarter of the supply chain to normalcy," Paul noted.  </p><p> He added that the company may also have to carefully evaluate the market scenario after May 3.   </p><p> "We must rightly evaluate the market sentiment after the lockdown from a demand point of view, especially in terms of customer footfalls to the dealerships and retail propensity. Our estimate is gradual rise in demand over the couple of months, so the inventory at the dealerships must be carefully planned," Paul noted.  </p><p> The company is committed to surge ahead on the long road of recovery and will consider every aspect before resuming full capacity, he added.  </p> Already, major carmakers like Maruti Suzuki, Toyota and Honda have stated that availability of components is a prerequisite to re-start operations.  MSS  ABMABM

HMSI, Yamaha calibrating operating processes to re-start production after lockdown ends

New Delhi, Dec 9 () India Yamaha Motor (IYM) on Monday launched BS-VI compliant YZF-R15 Version 3.0 motorcycle model with price starting at Rs 1.45 lakh (ex-showroom Delhi).
<p>The 155cc will be available across all company dealerships in India from the third week of December 2019, IYM said in a statement.
</p><p>The YZF-R15 Version 3.0 in BS VI follows the introduction of Yamaha BS VI vehicles - FZ FI (149 cc) and FZS FI (149 cc) - in November this year, it added.
</p><p>The new motorcycle has features such as side stand engine cut-off switch, dual horn and radial tubeless tyre at the rear wheel.
</p><p>The bike to be available in three colour options are priced between Rs 1.45 lakh and Rs 1.47 lakh (ex-showroom Delhi).
</p><p>Commenting on the launch, Yamaha Motor India group of companies Chairman Motofumi Shitara said, "With Yamaha continuing to perk up track performances with the R series, the new YZF-R15 Version 3.0 with BS VI compliant engine and new features will be able to create optimum excitement in India in its respective category".
</p>Yamaha strived for optimum cost control for the new BS-VI compliant YZF-R15 version 3.0 and achieved to peg it around 3 per cent higher along with new standard features, he added.  RKL  BAL

Yamaha launches BS-VI compliant YZF-R15 bike, price starts at Rs 1.45 lakh

<br /><ul><li><strong>India’s <keyword id="6374783" type="UNKNOWN" weightage="20" keywordseo="two-wheeler">two-wheeler</keyword> market is characterised by intense competition and sluggish sales.<br /></strong></li><li><strong>However, <keyword id="62356" type="COMPANY" weightage="20" keywordseo="TVS">TVS</keyword> Motor Co has recorded above-average growth.<br /></strong></li><li><strong>This is largely due to the success of its newer models. </strong><br /></li></ul>India’s two-wheeler market isn’t what one would refer to as enticing for new entrants. Sales have been <a href="https://www.thehindubusinessline.com/companies/liquidity-crunch-higher-insurance-costs-impact-two-wheeler-sales-in-dec/article25891881.ece">subdued</a> in recent months - an indication of rural distress since the bulk of <keyword id="6359451" type="UNKNOWN" weightage="20" keywordseo="motorcycle">motorcycle</keyword> and <keyword id="6359452" type="UNKNOWN" weightage="20" keywordseo="Scooter">scooter</keyword> sales in the country come from outside urban areas. <br /><br />The market is also extremely heated -- incumbents are trying to outperform each other in terms of prices and product launches. <br /><br />But one company, TVS Motor Co, has overcome these hurdles with relative ease, posting a revenue growth of 26% in the quarter ended December 2018. That is well above the industry average of 8%, according to the company’s FY19 estimates shared over a recent conference call. <br /><br />The uptick is largely attributable to the Chennai-based motorcycle manufacturer’s improved product mix and a surge in export volumes, due in part to the rupee’s weakness and consolidation in markets like The Philippines, which it also serves. <br /><br />The company has also been rolling out a number of new models -- the Radeon motorcycle, the Jupiter Grand and Ntorq scooters as well as the latest version of the Apache motorcycle, which was a play at the growing premium segment. <br /><br />The fuel-efficient Radeon, in particular, was launched to meet the needs of commuters in rural India. Sales of the 110cc motorcycle, which currently clocks in 11,000 units a month, are expected to double, the company said on the analyst call.<br /><br />Priced at around ₹50,000, it is also a value play for cost-conscious commuters between the age of 25 and 35. When compared to other popular mid-sized commuter bikes like the <keyword id="7029" type="COMPANY" weightage="20" keywordseo="Hero">Hero</keyword> Splendor Plus and <keyword id="6358511" type="UNKNOWN" weightage="20" keywordseo="Bajaj">Bajaj</keyword> Platina, which are similarly priced, the Radeon stands out because it’s the latest entrant to the segment, it’s comfortable and boasts a better design, according to Sanjay Sharma, who runs KK Automobiles, a dealership in the Najafgarh on the outskirts of New Delhi. <br /><br />While its other models fare well for different reasons: At ₹86,000, the updated Apache was priced below its immediate competitors in the premium racing category - The Yamaha FZ and <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword> CB Hornet, both of which are a little under ₹1 lakh. <br /><br />Meanwhile, its smart scooter brand, the Ntorq, which was launched last February and is priced at a little over ₹60,000, carries a premium as it also India’s first smart scooter, meaning it allows pairing with smartphones. TVS has reportedly <a href="https://www.carblogindia.com/tvs-ntorq-sales/">sold over 20,000 </a>units of the scooter per month in the second half of the year, according to Car Blog India.<br /><br />Clearly pricing has been a strong selling point for TVS in recent months. However, going forward, it may be difficult to keep these products as affordable as they are. The company has already raised prices by an average of 0.9% between April and December 2018. <br /><br />TVS may have to contend higher raw material prices and marketing costs to stay ahead of rising competition, which could potentially trigger a price hike or crimp margins. A government regulation mandating the installation of an anti-lock braking system that comes into force in April could escalate costs further. <br /><br /><br />SEE ALSO:<br /><br /><a href="https://www.businessinsider.com/r-harley-seeks-alliance-for-lightweight-bikes-to-grow-india-business-2018-8?IR=T">Harley seeks alliance for lightweight bikes to grow India business</a><br /><br /><a href="https://www.businessinsider.com/r-indias-royal-enfield-targets-tripling-of-us-sales-this-year-2018-11?IR=T">India's Royal Enfield targets tripling of U.S. sales this year</a><br />

In India, TVS Motor has found the sweet spot between product and pricing in a tough market for two-wheelers

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55bfcbac371d22c6178bafe1-3200-2400/50%20cent%20court.jpg" alt="50 cent court" data-mce-source="Jefferson Siegel/New York Daily News/POOL"><p class="source"><span>Jefferson Siegel/New York Daily News/POOL</span></p><p class="caption">50 Cent testifying in a lawsuit for a sex tape he allegedly posted online.</p></img></div><p></p></div></div>In the wake of <a href="http://www.businessinsider.com/50-cent-files-for-bankruptcy-2015-7" target="_blank">filing for bankruptcy</a>, rapper Curtis Jackson, aka "50 Cent," has pulled back the curtain on his seemingly lavish lifestyle.<p>Before filing for bankruptcy, 50 Cent was hit with <a href="http://www.businessinsider.com/50-cent-paying-2-million-in-punitive-damages-2015-7" target="_blank">a court order to pay $5 million</a> to Lastonia Leviston. The woman had won the payment in court after the rapper allegedly released a sex tape of her to embarrass her boyfriend and the rapper's nemesis, Maurice Murray.</p><p>Leviston's lawyers believed 50 Cent's bankruptcy was a way to avoid paying Leviston, so they took him to court again. But on the stand,&#xa0;50 Cent indicated his wealth was little more than an illusion. In other words, he merely <a href="http://www.businessinsider.com/50-cent-in-court-after-bankruptcy-sex-tape-ruling-2015-7" target="_blank">he led the public&#xa0;to believe he was a baller</a>. Jackson says he did this because the whole music industry is about aspiring to something greater.</p><p>Here are six ways 50 Cent says he embellished his hip-hop lifestyle, according to a transcript of the testimony he gave in the Leviston lawsuit:</p><p><strong>1. He recycled his gold chains.</strong></p><p><div><iframe src="//instagram.com/p/ldX0veML61/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></p><p class="embed-spacer">&#xa0;</p><p>50 Cent claims he could barely fill a jewelry drawer, let alone a whole jewelry chest. He said that he only actually owns "two or three chains"&#xa0;at "$30,000, $40,000" each. But, how does he make it seem as if he has more? The rapper says he takes those chains to&#xa0;a&#xa0;jeweler who can transform them into new, unrecognizable pieces of bling.</p><div class="page" title="Page 27"><div class="section"><div class="layoutArea"><div class="column"><div class="page" title="Page 27"><div class="section"><div class="layoutArea"><div class="column"><p style="padding-left: 30px;"><em><strong>Lawyer:&#xa0;</strong>How many chains have you got?<br><strong>Jackson:</strong>&#xa0;Two or three chains.<br><strong>Lawyer:</strong>&#xa0;I'm sorry?<br><strong>Jackson:&#xa0;</strong>Two or three different chains. What I do is take the&#xa0;jewelry back to the jeweler and they redo the jewelry with the same gold from the last thing.&#xa0;During album cycles I change, so you'll see a whole lot of stuff. But I take it back and have them change it into new stuff. <br><strong>Lawyer:</strong> You have 30 to $40,000 in gold chains?<br><strong>Jackson:</strong> Yes. </br></br></br></br></br></em></p></div></div></div></div><p><span><strong>2. He&#xa0;traded in cars to get new ones.</strong></span></p><p><span><strong><div><iframe src="//instagram.com/p/5GoNBYsLyB/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></strong></span></p><p class="embed-spacer">&#xa0;<span>Ten days before his testimony, interviewer Nick Grimshaw said&#xa0;<a href="http://thenet.ng/2015/07/50-cent-buys-300k-rolls-royce-as-afternoon-treat/" target="_blank">50 Cent bought a $300,000 Rolls Royce</a> on a whim right before an interview. (Above, 50 Cent makes light of his bankruptcy with <a href="http://www.businessinsider.com/50-cent-responded-to-bankruptcy-reports-with-this-instagram-photo-2015-7" target="_blank">photo of himself with a smart car</a>.)</span></p><p><span>But, according to 5o Cent's testimony,&#xa0;that story wasn't exactly true:</span></p><div class="page" title="Page 29"><div class="section"><div class="layoutArea"><div class="column"><p style="padding-left: 30px;"><em><strong>Lawyer:</strong> It is a false story in the sense it never happened? <br /></em><em><strong>Jackson:</strong> No, I got the car. But I took two cars that I had that back.<br /></em><em><strong>Lawyer:</strong> So the story that came out, you know the story, which&#xa0;is you just decided you just had to get a Rolls Royce and you bought one --<br /></em><em><strong>Jackson:&#xa0;</strong>That is the guy's interpretation of it.</em></p><p><strong>3. He doesn't actually own all those cars.</strong></p><p><div><iframe src="//instagram.com/p/o6p74SsL16/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></p><p class="embed-spacer">&#xa0;</p><p>50 Cent once took Forbes magazine on <a href="http://www.forbes.com/pictures/eeel45edlfi/in-pictures-50-cents-car-collection/" target="_blank">a tour of his car collection</a>, which consisted of&#xa0;three&#xa0;similarly-painted blue vehicles, including a Range Rover, a Lamborghini Mucielago, a Bentley Mulsanne, and a Yamaha motorcycle. 50 Cent had really become good at presenting a lavish, mogul lifestyle to the press. But here's what he says the truth about his cars really was:&#xa0;</p><div class="page" title="Page 31"><div class="section"><div class="layoutArea"><div class="column"><p style="padding-left: 30px;"><em><strong>Lawyer:&#xa0;</strong>Have you filmed yourself showing all your cars or&#xa0;showing a lot of cars that you now say aren't yours, but have you made films showing off all the cars that you own? <br><strong>Jackson:</strong>&#xa0;You mean like MTV "Cribs," maybe. <br><strong>Lawyer:&#xa0;</strong>I mean like you standing in front of a camera saying this is my Lamborghini and this is my Rolls and this is my Ferrari? <br><strong>Jackson:</strong> I did it once.<br><strong>Lawyer:</strong> You did that?<br><strong>Jackson:</strong>&#xa0;Yes.<br><strong>Lawyer:&#xa0;</strong>Ferrari, Lamborghini, Rolls, Chevy Blazer or Suburbans, I'm sorry, they were specially equipped and cost a few hundred&#xa0;thousand&#xa0;dollars each?</br></br></br></br></br></br></em><br><em><strong>Jackson:</strong> Yes.</em><br><em><strong>Lawyer:</strong> You did all that and said those cars were yours?</em><br><em><strong>Jackson:</strong> Yes. At that time, those cars were rented.</em></br></br></br></p><p>Below, watch 50 Cent show off his rented cars on another TV show:</p><p><div><iframe width="420" height="315" src="//www.youtube.com/embed/_YF0XrAphYc" frameborder="0" allowfullscreen=""></iframe></div></p><p class="embed-spacer"><strong>&#xa0;4. He says he never actually placed a $1.6 million Mayweather/Pacquiao bet.</strong></p><p class="embed-spacer"><strong><div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55bfc31d2acae7b7188bc584-1200-600/rsz_gettyimages-472027332.jpg" alt="Floyd Mayweather Manny Pacquiao" data-mce-source="Al Bello/Getty Images"><p class="source"><span>Al Bello/Getty Images</span></p></img></div><p></p></div></div></strong>On March 3, 50 Cent&#xa0;talked to <a href="http://www.tmz.com/2015/03/03/50-cent-betting-1-6-mil-floyd-mayweather-he-cant-lose/">The Breakfast Club</a> morning show on Power 105.1 in New York and said that he was betting $1.6 million on Floyd Mayweather Jr. to defeating Manny Pacquiao in the boxers' much-hyped bout that happened in May. Mayweather did win, and though Jackson has said he won the bet, even on "Conan" (video of that portion of the interview has since been <a href="http://www.businessinsider.com/conan-pulls-video-of-50-cent-on-his-bankruptcy-filing-2015-7">taken off the show's website</a>), according Jackson's testimony he never placed the bet.</p><blockquote class="blockquote"><em><strong>Lawyer:</strong> Is it correct, sir, that you publicly stated -- and you said it on Conan O'Brien the other night -- that you bet 1.6 million dollars on Floyd Mayweather to win the fight that took place in early May?</em><br><em><strong>Jackson:</strong> Yes.</em><br><em><strong>Lawyer:</strong> You said you won that bet?</em><br><em><strong>Jackson:</strong> Yes.</em><br><em><strong>Lawyer:</strong> You won one million dollars?</em><br><em><strong>?Jackson:</strong> No, I didn't say that.</em><br><em><strong>?Lawyer:</strong> You didn't say that on the Conan show?</em><br><em><strong>Jackson:</strong> No.</em><br><em><strong>Lawyer:</strong> Okay. So what did you win on that bet?</em><br><em><strong>Jackson:</strong> I didn't win anything on that.</em><br><em><strong>Lawyer:</strong> Huh?</em><br><em><strong>Jackson:</strong> I didn't win anything on that, actually.</em><br><em><strong>Lawyer:</strong> Did you make the bet?</em><br><em><strong>Jackson:</strong> No.</em><br><em><strong>Lawyer:</strong> You never made the bet?</em><br><em><strong>Jackson:</strong> No.</em></br></br></br></br></br></br></br></br></br></br></br></br></br></br></br></blockquote><p><strong>5. He doesn't own flashy watches.</strong></p><p><div><iframe src="//instagram.com/p/TXaz1NsL2l/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></p><p class="embed-spacer">&#xa0;Jackson has flaunted expensive watches on his Instagram account, while on the red carpet, and performing at concerts. But according to his testimony, the rapper/actor said he only owns three or four watches and that "they are not big name watches."</p><p class="embed-spacer">In fact, he told the court that the watch he was wearing that day was a Casio G-SHOCK, which retails between $100 and $450, according to its <a href="http://www.gshock.com/">website</a>. Jackson went on to say that in the hip-hop culture, "People only follow things that they think is the next level" but that it's all deceiving, just like a music video. "They say action and you see all these fancy cars," he explained, "and when they say cut everything goes back to the dealership."</p></div></div></div></div></div></div></div></div><p><div><iframe src="//instagram.com/p/c-IFWmMLxJ/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></p><p class="embed-spacer"><strong>&#xa0;6. The 64 carat ring is not his either.</strong></p><p class="embed-spacer">On September 3, 2013, Jackson posted two pictures on his Instagram account of him holding what he describes as a 65 karat Cartier ring.</p><p class="embed-spacer"><div><iframe src="//instagram.com/p/d0yfIcML6y/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></p><p class="embed-spacer">&#xa0;</p><p class="embed-spacer">In one picture of him wearing the ring the caption reads, "I'm the coolest man alive ask around my hood."</p><p class="embed-spacer"><div><iframe src="//instagram.com/p/d0wfcdsL4s/embed/" width="658" height="auto" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></p><p class="embed-spacer">&#xa0;</p><p class="embed-spacer">In the testimony, at first Jackson cannot recollect the ring. He even states, "I don't think it is possible to fit 65 carats [on a ring]."</p><p class="embed-spacer">However, when he's shown a picture of the ring on Instagram he admits that he did post it and that he did not own it. "It was a borrowed piece of jewelry from a jeweler," Jackson told the court.</p></div></div></div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/suicide-squads-first-trailer-is-here-2015-7">Get ready to root for the bad guys - your first look at 'Suicide Squad' is here</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xtbXM2djoW41kesC7Fr9_BxhcQM-FNfH" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'xtbXM2djoW41kesC7Fr9_BxhcQM-FNfH',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

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