Highlighting the recent spate of heatwaves in India and frequent extreme weather events worldwide, <keyword id="19939987" type="General" weightage="20" keywordseo="President-Droupadi-Murmu" source="keywords">President Droupadi Murmu</keyword> asked people on Monday to take "smaller" and "local" steps to protect the environment for a better tomorrow. A day after participating in the annual Rath Yatra, Murmu spent some time on the beach in this holy city and later, penned her thoughts about the experience of being in close commune with nature, a statement issued by the Rashtrapati Bhavan said. In a post on 'X', she said oceans and the rich variety of flora and fauna have suffered heavily due to pollution but people living in nature's lap have sustained traditions "that can show us the way" to conserve the environment. "Inhabitants of <keyword id="21082993" type="General" weightage="20" keywordseo="coastal-areas" source="keywords">coastal areas</keyword>, for example, know the language of the winds and waves of the sea. Following our ancestors, they worship the sea as God," Murmu said while suggesting ways to protect and conserve the environment. The President began her four-day tour of Odisha on July 6. "There are places that bring us in closer touch with the essence of life and remind us that we are part of nature. Mountains, forests, rivers and seashores appeal to something deep within us. As I walked along the seashore today, I felt a communion with the surroundings - the gentle wind, the roar of the waves, and the immense expanse of water. It was a meditative experience," she said. Murmu said it brought "to me a profound inner peace that I had also felt when I had a darshan of Mahaprabhu Shri Jagannathji yesterday". "And I am not alone in having such an experience; all of us can feel that way when we encounter something that is far larger than us, that sustains us and that makes our lives meaningful," she added. In the hustle and bustle of the daily grind, people lose this connection with Mother Nature, the President said, sharing pictures of her spending time on the beach. "Humankind believes it has mastered nature and is exploiting it for its own short-term benefits. The result is for all to see. This summer, many parts of India suffered a terrible series of heatwaves. Extreme weather events have become more frequent around the globe in recent years. The situation is projected to be far worse in the decades to come," Murmu said. More than 70 per cent of the Earth's surface is made up of oceans, and global warming is leading to a rise in the sea levels, threatening to submerge coastal areas, she said in a series of posts. The President said there are two ways to meet the challenge of protection and conservation of the environment. "Broader steps that can come from governments and international organisations, and smaller, local steps that we can take as citizens," she said. "The two are, of course, complementary. Let us pledge to do what we can do - individually, locally - for the sake of a better tomorrow. We owe it to our children," Murmu added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/bansal-wire-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111567787.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/bansal-wire-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111567787.cms" target="_blank">Bansal Wire IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms" target="_blank">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a><a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms" target="_blank">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a>

President Droupadi Murmu takes stroll on Puri beach, stresses need to protect, conserve environment

<ul><li><keyword id="624860" type="General" weightage="100" keywordseo="yatra-online" source="Orion">Yatra Online</keyword> is expected to announce its share allotment status today, September 25.</li><li>The shares of Yatra Online were subscribed 1.66 times.</li><li>The shares are expected to be listed on the stock exchanges on September 29.</li></ul>Gurugram-based Yatra Online, which offers users access to hotels, homestays, and other accommodations through its platform is expected to announce the allotment status of its initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) today, that is September 25. The Yatra Online IPO opened on September 15 and closed on September 20. The price band for the IPO was ₹135 to ₹142 per share. <cmsannotation type="cmsannotation" annotationid="Weak subscription" comment="subhead" text="Weak subscription">Weak subscription</cmsannotation> On the last day, the Yatra Online IPO was subscribed 1.66 times, receiving bids for 4.99 crore equity shares against 3 crore shares on offer. While the qualified institutional buyer portion was subscribed 2.1 times, the non-institutional investors portion was subscribed 0.43 times. The retail portion witnessed the highest participation and was subscribed 2.19 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Yatra Online are currently not commanding any grey market premium. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the Yatra Online <keyword id="35223" type="General" weightage="20" keywordseo="ipo-allotment" source="Orion">IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Yatra Online’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Yatra Online IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Yatra Online’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul> You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Yatra Online IPO listing date" comment="subhead" text="Yatra Online IPO listing date">Yatra Online IPO listing date</cmsannotation> The shares of Yatra Online will be listed on the stock exchanges on September 29. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/amazfit-cheetah-series-smartwatches-with-ai-powered-running-coach-launched-in-india/articleshow/103836676.cms">A smartwatch in India now offers an AI-powered running coach</a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-40-neo-launched-in-india-specs-features-and-price/articleshow/103832280.cms">Motorola Edge 40 Neo with with vegan leather back hits the Indian market</a> <a href="https://www.businessinsider.in/business/telecom/news/jioairfiber-launched-in-metros-plans-and-benefits-versus-the-airtel-xstream-airfiber/articleshow/103804858.cms">JioAirFiber launched – plans and benefits versus the Airtel Xstream AirFiber</a>

Yatra Online IPO allotment – how to check allotment, GMP, listing date and more

<ul><li>The stock fell steeply from its issue price on market debut.</li><li>Its market cap is ₹2,111 crore, as per Bombay Stock Exchange.</li><li>The ₹775 crore IPO was subscribed 1.6 times the shares on offer. </li></ul><keyword id="624860" type="General" weightage="20" keywordseo="yatra-online" source="Orion">Yatra Online</keyword>’s stock saw a volatile market debut on Thursday. Its price slipped over 8% early on as trading started but the fall was later stemmed to 5% as of 10:10 am. The stock gained during the session but the listing loss over its IPO price remained at 4%, at its closing price of ₹135. Its issue price is at ₹142, which is the upper end of the price band. The stock is one of the rare few to see negative listing gains during this very busy IPO season. Its market cap is ₹2,111 crore, as per Bombay Stock Exchange. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Signature Global </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sai Silks Kalamandir </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EMS Ltd </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32.58% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">R R Kabel </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.6% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jupiter Life Line Hospitals </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">46% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rishabh Instruments </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.18% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratnaveer Precision Engineering </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu Prakash R Punglia </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pyramid Technoplast </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Supply Chain </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBFC </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody></table> The ₹775 crore initial public offer was subscribed 1.6 times the shares on offer, on the last day of the subscription. Qualified institutional buyer (QIB) and retail portions were subscribed twice over, while non-institutional investor portion was not fully subscribed. The price band of the issue has been fixed at ₹135-142 per equity share. The IPO comprised a fresh issuance of shares worth ₹602 crore and an offer for sale (OFS) of up to 12,183,099 shares. It had undertaken a pre-IPO placement of ₹62.01 crore by way of rights issue and allotted 2,627,697 shares of face value ₹1 each to its promoter, THCL in December 2022. ‘Can gain from industry tailwinds’ Yatra Online offers access to hotels, homestays, and other accommodations through its platform. It is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events. Proceeds from the fresh issue will be utilised towards strategic investments, acquisitions, and inorganic growth, customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes. The company claims to be India’s largest corporate travel services provider in terms of number of corporate clients. It is the third largest online travel company in India among key online travel agency (OTA) players in terms of gross booking revenue and operating revenue for FY23. The company’s revenues have been growing steadily for the last three years and has turned profitable in FY23, after cutting its losses progressively over two years. At the upper price band, the company is valued at a market-cap to sales ratio of 5.8 times as per its FY23 earnings. Its peer EaseMyTrip is valued at 15.7 times, as per Anand Rathi Securities. “We believe that for Yatra there is a scope of business improvement on the back of industry tailwinds, brand recall and business scalability, resulting in expansion of the EBITDA margin from here on,” the report said, adding that it recommends a ‘subscribe’ rating for the long term.

Yatra Online stock slips below its issue price on listing

<ul><li>The company offers access to hotels, homestays, and other accommodations through its platform.</li><li>Its price band has been fixed at ₹135-142 per equity share.</li><li>Investors can bid for a minimum of 105 equity shares and in multiples of 105 thereafter.</li><li>Proceeds from the fresh issue will be used for strategic investments, customer acquisition and retention, technology and more. </li></ul><keyword id="624860" type="General" weightage="20" keywordseo="Yatra-Online" source="Orion">Yatra Online</keyword>’s initial public offer (IPO) will open on September 15 and close on September 20. It has fixed the price band at ₹135-142 per equity share for its public offering. Investors can bid for a minimum lot of 105 equity shares and in multiples of 105 thereafter. The IPO comprises a fresh issuance of shares worth ₹602 crore and an offer for sale (OFS) of up to 12,183,099 shares. The company had undertaken a pre-IPO placement of ₹62.01 crore by way of rights issue and allotted 2,627,697 shares of face value ₹1 each to its promoter, THCL in December 2022. Proceeds from the fresh issue will be utilized towards strategic investments, acquisitions, and inorganic growth, customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes. SBI Capital Markets, DAM Capital Advisors and IIFL Securities are the book running lead managers of the issue and Link Intime India is the registrar to the offer. About the company Yatra Online offers access to hotels, homestays, and other accommodations through its platform. It is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events. The company claims to be India’s largest corporate travel services provider in terms of number of corporate clients. It is the third largest online travel company in India among key online travel agency (OTA) players in terms of gross booking revenue and operating revenue for FY23. Easy Trip Planners is one of its listed peers,, while MakeMyTrip and Cleartrip are its industry peers. “We have the largest number of hotel and accommodation tie-ups amongst key domestic OTA players of over 2,105,600 tie-ups, as on March 2023,” the company said in its RHP. According to CRISIL, the Indian travel industry is expected to grow at 9-11% compounded annual growth rate (CAGR), driven by development of tourism infrastructure, rising discretionary spending and an increase in business and leisure travel frequency. Online penetration within the industry is expected to reach 73-75%, and share of OTAs is expected to increase faster than captive players. Financial information &amp; risk factors The company’s revenues have been growing steadily for the last three years and has turned profitable in FY23, after cutting its losses progressively over two years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><col /><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;">Particulars </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;">FY23 </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;">FY22 </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;">FY21 </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;">Revenue from operations </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;">₹380 crore </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;">₹198 crore </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;">₹125 crore </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;">Net Profit </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;">₹7.6 crore </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;">(₹30.7 crore) </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;">(₹118 crore) </td></tr></tbody></table>Source: RHP Apart from Covid-19 pandemic-like effect, change in travel preferences like increased use of telepresence equipment, spending habits etc can adversely affect its business – especially since a lot of its business is derived from B2B business. India’s travel industry is also highly competitive, the company said in its risk factors. It is also dependent on the airline ticketing business, which generates 46.82% of its revenues – and it is derived from a small number of airline suppliers in India. The company could also be negatively affected by changes in Internet search engine algorithms and dynamics, or search engine disintermediation. Its promoters, Travel Holding Cyprus (THCL) and Asia Consolidated DMC (ACDPL), will retain majority shareholding after the offer, which will allow them to exercise significant influence over the company. Yatra Online has contingent liabilities in our financial statements, which if they materialise, may adversely affect its financial condition. It has ₹8.5 crore worth of claims against it not recognized as debt, and ₹31.5 crore service tax demand in FY23.

Yatra Online’s IPO to open on September 15

<ul><li>The issue’s non-institutional investor portion was not fully subscribed. </li><li>Proceeds from the fresh issue will be used for strategic investments, customer acquisition and retention, technology and more.</li></ul><keyword id="624860" type="General" weightage="20" keywordseo="yatra-online" source="Orion">Yatra Online</keyword>’s ₹775 crore initial public offer was subscribed 1.6 times the shares on offer, on the last day of the subscription. Qualified institutional buyer (QIB) and retail portions were subscribed twice over, while non-institutional investor portion was not fully subscribed. The price band of the issue has been fixed at ₹135-142 per equity share. Investors can bid for a minimum lot of 105 equity shares and in multiples of 105 thereafter. The IPO comprised a fresh issuance of shares worth ₹602 crore and an offer for sale (OFS) of up to 12,183,099 shares. It had undertaken a pre-IPO placement of ₹62.01 crore by way of rights issue and allotted 2,627,697 shares of face value ₹1 each to its promoter, THCL in December 2022. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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 </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;">No of times subscribed </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;">QIBs </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;">2.05 </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 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;">0.42 </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;">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;">2.11 </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;">1.61 </td></tr></tbody><tbody></tbody><tbody></tbody></table> Source: BSE ‘Can gain from industry tailwinds’ Yatra Online offers access to hotels, homestays, and other accommodations through its platform. It is a one-stop shop for travellers, offering vacation packages as well as visa facilitation, tours, sightseeing, shows, and events. Proceeds from the fresh issue will be utilized towards strategic investments, acquisitions, and inorganic growth, customer acquisition and retention, technology, and other organic growth initiatives and general corporate purposes. The company claims to be India’s largest corporate travel services provider in terms of number of corporate clients. It is the third largest online travel company in India among key online travel agency (OTA) players in terms of gross booking revenue and operating revenue for FY23. The company’s revenues have been growing steadily for the last three years and has turned profitable in FY23, after cutting its losses progressively over two years. At the upper price band, the company is valued at a market-cap to sales ratio of 5.8 times as per its FY23 earnings. Its peer EaseMyTrip is valued at 15.7 times, as per Anand Rathi Securities. “We believe that for Yatra there is a scope of business improvement on the back of industry tailwinds, brand recall and business scalability, resulting in expansion of the EBITDA margin from here on,” the report said, adding that it recommends a ‘subscribe’ rating for the long term.

Yatra Online IPO subscribed 1.6x on the last day

Driven by UPI-based transactions, about 81 per cent of consumers intend to shop online during this festive season in India, while one in two consumers are willing to increase their spending compared to last year, a new survey report showed on Monday. Digital payment methods are on the rise, with 42 per cent of consumers saying they will choose unified payments interface (<keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword>)-for online festive shopping. In addition, 57 per cent indicated that their preferred digital payment method for earning rewards and cashback is UPI, especially during the festive season. About 75 per cent are interested in buying electronic gadgets and products (smartphones, TVs, refrigerators and ACs), luxury and authentic beauty brands, home furnishing/improvement items and consumables, online, according to the report by <keyword id="17495816" type="General" weightage="50" keywordseo="nielsen-media-india" source="Orion">Nielsen Media India</keyword>, on behalf of Amazon India. The survey said that 87 per cent of consumers in metropolitan cities and 86 per cent across tier-2 cities (population 10-40 lakh) prefer to shop online for the festive period. "We are inspired to learn that consumers this year are excited and willing to spend and shop more online. As a marketplace, we are confident that the 'Amazon Great India Festival 2023' will offer a seamless shopping experience, incredible value and the widest selection of domestic and international brands and products," said Manish Tiwary, Country Manager India Consumer Business, Amazon India. More than 70 per cent of consumers wait for online festive shopping events to purchase electronic items. Over 75 per cent of consumers are excited with attractive bank offers and no-cost EMIs for making their purchase more convenient and rewarding, said the report. Around 80 per cent consumers said online festive shopping events provide access to trendy brands for apparel, footwear, and various fashion accessories with nearly 64 per cent sharing their intent to purchase across these categories this festive season. Driven by about 140 million shoppers, India is likely to witness Rs 90,000 crore worth of online gross merchandise value (GMV) in the festive month this year. This is up 18-20 per cent from last year's festive month sales, according to a recent report by market research firm Redseer Strategy Consultants. SEE ALSO:<a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/shubman-gill-becomes-the-fastest-indian-to-score-six-odi-centuries/slidelist/103928533.cms" target="_blank">Shubman Gill becomes fastest to score six ODI centuries for India by a mile</a><a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-8-launch-on-oct-4-from-camera-to-design-specifications-what-we-know-so-far/articleshow/103924696.cms" target="_blank">Pixel 8 launch on Oct 4 – From camera to design specifications, what we know so far</a><a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/yatra-online-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/103922162.cms" target="_blank">Yatra Online IPO allotment – how to check allotment, GMP, listing date and more</a>

UPI set to drive festive sales this year, electronics to be top choice again: Report

<ul><li>India’s early tech companies like online travel aggregator platforms MakeMyTrip and Yatra, had listed in the <keyword id="6357328" type="UNKNOWN" weightage="20" keywordseo="nasdaq">Nasdaq</keyword>, years ago owing to the US’ friendly moves for technology companies.</li><li>Now, <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> may want to replicate the success of the American exchange, with India's Innovators Growth Platform.</li><li>The easing of listing regulations have come at a time when a whole host of Indian <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Zomato, Delhivery, Nykaa are headed for <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>With the Innovators Growth Platform (IGP), India’s stock market regulator Securities and Exchange Board of India (SEBI) may be trying to replicate the success of Nasdaq. The American exchange played an important role in helping technology startups, at the time, like Google, Facebook, Apple, Amazon and Netflix among others, to become the giants they are today. India’s early technology companies like online travel aggregator platforms MakeMyTrip and Yatra, had listed in the Nasdaq, many many years ago owing to the US’ friendly moves for technology companies. Even now, companies like ReNew Power and <a href="https://economictimes.indiatimes.com/tech/startups/grofers-listing-grofers-in-talks-with-cantor-fitzgeralds-spac-for-nasdaq-listing/articleshow/81181364.cms">reportedly</a> Grofers, are headed for the US public markets through a special-purpose acquisition company (SPAC). There are other companies like Zomato, Delhivery, and Nykaa plan their initial public offering (IPO), SEBI has initiated a bunch of measures, much like Nasdaq, that would make it easier and, therefore, encourage startups to make their market debut in India. "Everyone’s eager that the IGP can actually become like the Nasdaq of India,” Siddarth Pai, founding partner at 3one4 Capital and co-chair of the regulatory affairs committee at the Indian Venture Capital Association (IVCA) told <a href="https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/indias-nasdaq/articleshow/81698790.cms?UTM_Source=Google_Newsstand&amp;UTM_Campaign=RSS_Feed&amp;UTM_Medium=Referral">ET</a>. <cmsannotation type="cmsannotation" annotationid="Here are some of the changes introduced by the SEBI" comment="subhead" text="Here are some of the changes introduced by the SEBI">Here are some of the changes introduced by the SEBI</cmsannotation> – The holding period for pre-issue capital has been brought down from the existing two years to one year. This step will allow startups to make a discretionary allotment to eligible investors—a facility available to companies that list on BSE and NSE. – It has allowed for startups, that are headed for an IPO, to allocate up to 60% of the issue size to any eligible investor with a lock-in of 30 days on such shares. This is important as currently an issuer company isn’t allowed to make discretionary allotment. – An investor’s pre-issue shareholding can be considered for 25% of the pre-issue capital, instead of the current 10% limit. – It has also officially allowed Differential Voting Rights for listed companies in its board meeting which was held today. With Differential Voting Rights, companies whose promoters hold skill and talent to run the business can sell shares giving away their control in the company. <cmsannotation type="cmsannotation" annotationid="A great idea waiting for the execution test" comment="subhead" text="A great idea waiting for the execution test">A great idea waiting for the execution test</cmsannotation> Market participants are excited about the potential of this new platform. “Sebi is finally giving cognisance to the fact that IGP is going to be a mainstay for more sophisticated investors and hence [needs] a more light-touch regulation," Pai added. But the new platform still has to go through the test. “Bankers and potential issuers will scrutinise this route at more length before deciding to take this route, as currently, most startups focus is to list on the mainboard. The feasibility and traction of the IGP platform are yet to be tested and the benchmark for the same will get established by the first couple of contenders who chose to go through this route,” said Ankur Bansal, Co-founder and Director, at BlackSoil, an investment firm. Madhur Singhal, Managing Partner &amp; CEO, Praxis Global Alliance believes that the new rules will encourage startups to consider local listing, especially startups that are profitable and are already accessing the public markets and reaping success as shown by the recent IPO of Nazara. But still, there’s a long way to go. “While it is a step in the same direction, we are still far away from where US bourses are. We need a comprehensive framework for listing businesses that might still not be profitable. Several friction points like the ESOP framework and Angel investor tax treatment still need to be addressed for SEBI's vision to be fully realized,” Singhal told Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byjus-may-be-worth-15-billion-in-another-week/articleshow/81689880.cms">Indian edtech startup BYJU’S may be worth $15 billion in another week</a>

India is trying to create its own Nasdaq as whole host of startups get ready for IPO

Farmer unions on Wednesday called for a <keyword id="6379373" type="ORGANIZATION" weightage="20" keywordseo="bharat-bandh">Bharat bandh</keyword> on March 26, when their protest at Delhi's <keyword id="52790" type="COMPANY" weightage="20" keywordseo="borders">borders</keyword> against the Centre's three <keyword id="10002582" type="UNKNOWN" weightage="20" keywordseo="new-farm-laws">new farm laws</keyword> completes four months. Farmer leader Buta Singh Burjgill said <keyword id="45092" type="COMPANY" weightage="20" keywordseo="farmers">farmers</keyword> along with trade unions will protest the hike in fuel prices and privatisation of <keyword id="6360676" type="UNKNOWN" weightage="20" keywordseo="railways">railways</keyword> on March 15. "Memoranda will be submitted to district magistrates against the rising prices of diesel, petrol and <keyword id="6360114" type="COMPANY" weightage="20" keywordseo="lpg">LPG</keyword>. Protests will be held at railway stations across the country against privatisation," he said. "We will observe a complete Bharat bandh on March 26, when our protest against the three farm laws completes four months. The peaceful bandh will remain effective from morning till evening," he told reporters at the <keyword id="10347936" type="PERSON" weightage="20" keywordseo="singhu">Singhu</keyword> border. On March 19, the farmers will observe "Mandi Bachao-Kheti Bachao" day, he said. The farmer unions have also decided to celebrate 'Shaheedi divas' of <keyword id="52406" type="PERSON" weightage="20" keywordseo="Bhagat-Singh">Bhagat Singh</keyword>, Rajguru and Sukhdev, the farmer leader said. Youths from all parts of the country will join the farmers' protests at Delhi borders on that day, Burjgill added. Farmers leaders also said that copies of the new farm laws will be burnt during 'Holika Dahan' on March 28. They said "Kisan Yatras" will be taken out in Bihar from March 11 and conclude on March 18 on Kisan Kranti Divas. Thousands of farmers, mostly from Punjab, Haryana and western Uttar Pradesh, have been camping at the Delhi border points --- Singhu, Tikri and Ghazipur --- for over four months, demanding the repeal of farm laws and a legal guarantee on the minimum support price (MSP) for their crops. The protesting farmers have expressed apprehension that these laws would pave the way for the dismantling of the MSP system, leaving them at the "mercy" of big corporations. However, the government has maintained that the new laws will bring better opportunities to farmers and introduce new technologies in agriculture. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/checkout-review-of-oppo-fitness-band-related-to-design-performance-price-and-battery-life/articleshow/81423414.cms">Oppo Band Style review – getting the basics right with a twist of flair</a> <a href="https://www.businessinsider.in/international/news/narendra-modi-joe-biden-yoshihide-suga-and-scott-morrison-are-set-to-meet-for-the-first-ever-quad-leaders-summit-on-march-12/articleshow/81424117.cms">The first-ever leaders summit of the QUAD may be another signal that it's ready for something more formal</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-share-allotment-status-of-mtar-technologies-ipo/articleshow/81424102.cms">MTAR Technologies IPO: Here is how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-cfo-explains-how-the-role-of-a-finance-head-has-been-changed-by-the-pandemic/articleshow/81423884.cms">EXCLUSIVE: TCS CFO explains how the role of a finance head has been changed by the pandemic</a>

Farmer unions call for Bharat bandh on March 26

People in <keyword id="28504" type="LOCATION" weightage="20" keywordseo="Kerala">Kerala</keyword>, who live near the <keyword id="521342" type="PERSON" weightage="20" keywordseo="entry-points">entry points</keyword> to <keyword id="6354780" type="PERSON" weightage="20" keywordseo="Karnataka">Karnataka</keyword> got a rude jolt after the <keyword id="6380030" type="UNKNOWN" weightage="20" keywordseo="Authorities">authorities</keyword> on Monday decided to close 13 points of entry in districts Wayanad and <keyword id="73081" type="PERSON" weightage="20" keywordseo="Kasargode">Kasargode</keyword>. These <keyword id="3661438" type="PERSON" weightage="20" keywordseo="open-borders">open borders</keyword> provide a huge succour to the people living on either side. They move freely for various needs, especially the farming community who regularly move from Kerala to engage in such activities on the lands they either own or take on lease in Karnataka. N.A. Nellikunnu, senior opposition Legislator representing Kasargode Assembly constituency, said this is an unwarranted action by the authorities of Karnataka and is a violation of the unlock guidelines of the Centre. On date there are around 58,000 active <keyword id="8764262" type="PERSON" weightage="20" keywordseo="covid">Covid</keyword> cases in Kerala. "We are given to understand that their authorities are now insisting on the RT-PCR test results from all those travelling from Kerala and entering Karnataka. Fail to understand the logic, while people in Kerala strictly follow Covid protocols and wear masks, no such thing is happening in Karnataka and yet they do this unlawful act. We expect immediate intervention of the Kerala government," said Nellikunnu. Incidentally, this act by Karnataka comes hours after the visiting Uttar Pradesh Chief Minister Yogi Adityanath went hammer and tongs against the flawed Covid measures of Kerala, and while flagging of the statewide Yatra of Kerala BJP president K.Surendran said, "Today the whole world is laughing at Kerala as Covid is widely prevalent in the state". Similar scenes were witnessed at the entry points to Karnataka in the Wayanad district, where people were caught unawares after vehicles were stopped by the Karnataka authorities. "We have no clue on this sudden decision to close the borders and are insisting on RT-PCR tests. This is going to create untold miseries to all those who used to freely cross the borders for various needs," said angry Wayanad residents, who were unable to move freely. Playing down the incident, Surendran said this might be an act done by Karnataka authorities as a measure of caution with Covid continuing to rage in Kerala. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/discounts-have-dropped-lower-on-the-customer-priority-list-say-indian-online-retailers/articleshow/81145830.cms">Discounts have dropped lower on the customer’s priority list, say Indian e-tailers</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-railtel-ipo-share-allotment-status-online/articleshow/81145120.cms">Indian Railways owned RailTel’s IPO: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/politics/india/news/puducherry-government-falls-as-chief-minister-v-narayanasamy-loses-trust-vote-in-assembly/articleshow/81148119.cms">Puducherry government falls as Chief Minister V Narayanasamy loses trust vote in Assembly</a> <a href="https://www.businessinsider.in/careers/news/deutsche-bank-plans-to-hire-1000-freshers-in-india-as-it-looks-to-build-core-technologies-in-house/articleshow/81147886.cms">INTERVIEW: Deutsche Bank plans to hire 1,000 freshers in India as it looks to build core technologies in-house</a>

Karnataka shuts 13 entry points from two Kerala districts to prevent COVID-19 surge

<ul><li><keyword id="6947922" type="UNKNOWN" weightage="20" keywordseo="chiratae">Chiratae</keyword> plans to invest in 50 startups with this fund over the next couple of years.</li><li>It will look to make bets in 20 startups annually, working across seed stage to late stage.</li><li>Chiratae is also an investor in PolicyBazaar, which has recently filed preliminary papers to go public.</li><li>Its portfolio includes 100 companies such as Lenskart, Firstcry and Cure.fit.</li></ul>Investment firm <keyword id="6891457" type="UNKNOWN" weightage="20" keywordseo="chiratae-ventures">Chiratae Ventures</keyword> has announced the final close of its fourth fund at $337 million on Friday, August 6. The Mumbai-based venture capital (VC) firm will use this capital to invest in about 50 companies over the next couple of years. It plans to close about 15-20 deals on an annual basis, Chiratae Ventures’s executive director and partner Karthik Prabhakar told Business Insider. These investments would range from early-stage to later stage rounds. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Stage </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;">Average Investment Size </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;">Seed </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-$1.5 million </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;">Series A </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;">Up to $5 million </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;">Series B </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;">Up to $7 million </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;">Later Stages/Larger Cheques </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;">Up to $40 million </td></tr></tbody><tbody></tbody><tbody></tbody></table> Though the closure of Chiratae’s Fund IV was delayed by over 10 months due to COVID-19, it was oversubscribed by 25%. The fund is backed by marquee investors such as World Bank’s investment arm International Finance Corporation (IFC), Infosys’ Kris Gopalakrishnan, Asian Paints FO, Unilever, ITC, Premji Invest, Nippon, and others. Chiratae Ventures (formerly known as IDG Ventures India) was founded by <keyword id="145348" type="PERSON" weightage="20" keywordseo="Sudhir-Sethi">Sudhir Sethi</keyword> and <keyword id="3092057" type="PERSON" weightage="20" keywordseo="TC-Meenakshisundaram">TC Meenakshisundaram</keyword> in 2006. The investment firm — which has $950 million as assets under management (AUM) — has invested in more than 100 companies in India. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Investments </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;">100 </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;">Exits </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;">38 </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;">Key Investments </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;">Agrostar, Bizongo, Bounce, Cropin, Emotix, GoMechanic, HealthifyMe, PlayShifu, Pyxis, and Vayana </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;">Key Exits </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;">CloudCherry, Flipkart, Manthan, Myntra, Newgen, PlaySimple, and Xpressbees </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;">Unicorns* </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;">Firstcry, Lenskart, PolicyBazaar </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;">Soonicorns** </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;">Curefit, Uniphore </td></tr></tbody><tbody></tbody><tbody></tbody></table>*Unicorns are companies valued at or above $1 billion. **Soonicorns are companies are going become unicorn soon Its portfolio companies include Yatra and Newgen, which went public in 2016 and 2018 respectively. The company currently has three initial public offering (IPO)-bound companies in its portfolio. This includes online insurance aggregator PolicyBazaar, which recently filed its <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers </a>with market regulator Securities and Exchange Board of India (SEBI) to go public. Although the investment firm claims to have two more publicly-listed companies in making over the next three years, it has refused to share any more details about them. Chiratae has big plans with startups going public The Indian startup ecosystem was busy churning out unicorns in the summer of 2021, but the monsoons are all about IPOs. Over the last months, several <a href="https://www.businessinsider.in/business/startups/news/these-are-some-of-the-highest-paid-founders-of-indian-startups-tapping-capital-markets-this-year/slidelist/85005261.cms">companies</a> like Nykaa, Mobikwik, Paytm, Fino Payments Bank, and CarTrade have filed their papers for IPO. Meanwhile, Zomato and EasyMyTrip have already listed publicly. The way things are going, Chiratae expects to have more IPO-bound or listed companies in its portfolio. The investment firm has not pitched to sell any of its shareholdings in PolicyBazaar, the fintech startups’s <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">draft red herring prospectus (DRHP)</a> has revealed. Talking to Business Insider, Chiratae Ventures’ founder and chairperson Sudhir Sethi said, “We've exited 35 or 38 companies. Some have died, so the active portfolio is around 60. We invest in 15 every year. Will there be some who will become unicorns? Will there be some who won't last out longer? The answers are very big yes. The three numbers going to ten, don’t be surprised because scaling is happening.” Meanwhile, Meenakshisundaram added that IPOs are going to be a big trend as companies in the last decade have grown to scale. There have been a lot of exits — both in secondary market or in IPO — which has given the investors the confidence to come into this asset class, he added. Meanwhile, Sethi added that decade old companies are going public now and the cycle will continue forward. “I think the world of unicorns is a given, right? It's the world of decacorns, which is now being thought of,” he added. “Compared to yesterday, today, obviously, is a lot more exciting, and the best time to be an entrepreneur and a VC,” Prabhakar added. 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