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New Delhi, Mar 12 () Gaming <keyword id="10915216" type="UNKNOWN" weightage="20" keywordseo="firm-nazara-technologies">firm Nazara Technologies</keyword> on Friday said its initial public offer will open on March 17, with a price band of Rs 1,100-1,101 a share for the issue. The initial public offering (IPO) will conclude on March 19 and the bidding for anchor investors would open on March 16, <keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> said in a virtual press conference. The company, backed by <keyword id="10108243" type="UNKNOWN" weightage="20" keywordseo="ace-investor-rakesh-jhunjhunwala">ace investor Rakesh Jhunjhunwala</keyword>, is popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series. <keyword id="242260" type="COMPANY" weightage="20" keywordseo="Nazara">Nazara</keyword>'s public issue will see sale of 52,94,392 equity shares by the promoters and existing shareholders. Those selling shares in the IPO include Mitter Infotech LLP, a promoter of the company, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments. The offer includes a reservation aggregating up to Rs 2 crore for purchase by the company's employees. At the upper end of the price band, the IPO is expected to fetch Rs 583 crore. Explaining the rationale behind the IPO, the company said that listing of equity shares will enhance its brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India. The equity shares are proposed to be listed on BSE and NSE. ICICI Securities, Nomura Financial Advisory and Securities (India) Private Limited, Jefferies India Private Limited and IIFL Securities have been appointed as the merchant bankers to manage the company's initial public offer. In January, WestBridge Ventures II Investment Holdings, a fund managed by WestBridge Capital, exited from Nazara by selling shares worth over Rs 500 crore to Plutus Wealth Management LLP and its associates. Apart from the latest transaction, WestBridge had sold shares to IIFL Special Opportunities Fund and <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>, who had invested Rs 327 crore and Rs 182 crore, respectively, in Nazara during 2017. The company has undertaken investments and acquisitions in various gaming categories, including esports, edutainment, infotainment, fantasy sports, multiplayer games like carrom and mobile cricket games, among others to strengthen its position in the gaming and sports media space. Nazara owns IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games. The company had earlier filed preliminary papers with Sebi in February 2018 and had received approved by the market regulator to float the IPO but the firm did not launch its public issue. SP ANS ANS

Rakesh Jhunjhunwala-backed Nazara Technologies IPO set to open on March 17 — sets price band at ₹1,100-1,101 per share

Shares of <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> on Tuesday advanced nearly 9 per cent after ace investor <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword> bought approximately 1.3 crore shares of the company for around Rs 87 crore through open market transactions. The scrip, after a positive opening, further jumped 8.77 per cent to Rs 71.90 on the BSE. On the NSE, it zoomed 8.84 per cent to Rs 72. It was the top gainer on both Sensex and Nifty during early trade. It closed 3.4% higher on BSE. According to bulk deal data available with the BSE, Jhunjhunwala purchased 1,29,50,000 shares of the private lender amounting to 0.5 per cent stake. The shares were bought at an average price of Rs 67.1, taking the transaction to Rs 86.89 crore, the data showed. Shares of the lender, after plunging 15 per cent during the previous session on Monday, recovered most of its early losses and closed over 1 per cent lower after the company reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans. SUM ANS ANS

Big Bull Rakesh Jhunjhunwala gives a big boost to Yes Bank stock

<ul><li><keyword id="928516" type="COMPANY" weightage="20" keywordseo="Barbeque-Nation-Hospitality">Barbeque Nation Hospitality</keyword> has received market regulator SEBI’s approval to raise about ₹1,000-1,200 crore through an initial public offering. </li><li>The company is backed by private equity investor CX Partners and ace <keyword id="9574593" type="UNKNOWN" weightage="20" keywordseo="investor-rakesh-jhunjhunwala">investor Rakesh Jhunjhunwala</keyword>’s investment firm Alchemy Capital. </li><li>The promoters hold 60.24%, CX Partners owns 33.79% and renowned stock market investor <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>’s investment firm Alchemy Capital holds 2.05% in the company. </li></ul>One of India’s most popular barbeque joints is ready to sell shares in the market. And just like the patrons of the chain, who dig the<a href="https://www.tripadvisor.in/ShowUserReviews-g297687-d12850093-r599225012-Barbeque_Nation-Dehradun_Dehradun_District_Uttarakhand.html"> high-priced buffets</a>, the investors too will demand ‘value for money’. The market regulator, <keyword id="139797" type="COMPANY" weightage="20" keywordseo="The-Securities-and-Exchange-Board-of-India">the Securities and Exchange Board of India</keyword> (SEBI), has approved the company’s plan to raise ₹1,000-1,200 crore through an initial public offering. The IPO is coming at a time when the COVID-19 pandemic has made many restaurants unviable. “Food ordering can meaningfully increase and share of trusted brands is bound to go up vs random mom-pop restaurants that may not be able to assure hygiene. However, out-of-home eating and loss of ordering at office/social interactions may not be made up by such shifts for the shorter term,” according to an Ambit Capital report in June. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total IPO size </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000-1,200crore </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹275 crore </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Pre-IPO fund raising </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹150 crore </td></tr></tbody></table> The company will use the IPO proceeds to repay an outstanding loan of ₹205 crore, in part or full, and for general corporate purposes. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bidders </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO allocation </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers (QIBs) </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional bidders </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail individual bidders </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Here’s all you need to know before investing in this IPO Investors and Promoters The company is backed by private equity investor CX Partners and ace investor Rakesh Jhunjhunwala’s investment firm Alchemy Capital. Alchemy Capital bought about 3.5% stake in Barbeque-Nation Hospitality for ₹90 crore last year. It is also promoted by $3 billion Sayaji Hotels, Sayaji Housekeeping Services, Kayum Dhanani, Raoof Dhanani and Suchitra Dhanani. <div type="image" title="BBQN" msid="76961414" hostid="261"></div> It filed for an IPO in 2017 with Sebi seeking to raise ₹700 crore. However, the regulator kept the processing of the company’s proposed IPO in abeyance <a href="https://www.businessinsider.in/business/corporates/news/barbeque-nation-files-ipo-papers-to-raise-rs-1000-1200-cr/articleshow/74189528.cms">“pending regulatory action for past violations</a>” and finally approved the IPO plan in January 2018. <div type="image" title="_Barbecue Nation Revenue" msid="76962277" hostid="261"></div> The long chain of restaurants The company owns and operates <keyword id="9571662" type="COMPANY" weightage="20" keywordseo="barbeque-nation-restaurants">Barbeque Nation Restaurants</keyword> at 138 outlets across India and seven outlets in the UAE, Oman and Malaysia. Although, the company could not launch the initial share-sale due to adverse market conditions. The restaurant chain has seen compounded annual growth of 14.29% in its dining covers in India, according to <a href="https://www.barbequenation.com/investor">company financials</a>. It has grown from ₹68.60 crore in FY17 to 89.60 crore in FY19, <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/jhunjhunwala-cx-partners-backed-barbeque-nation-refiles-for-rs-1000-1200-crore-ipo/articleshow/74188490.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst">pillared by referrals and recommendations of customers</a>. <div type="image" title="Barbecue Nation" msid="76961916" hostid="261"></div> Recent acquisitions It also acquired 61.35% stake in <keyword id="9574592" type="COMPANY" weightage="20" keywordseo="red-apple-kitchen">Red Apple Kitchen</keyword>, which owns Toscano, a casual dining Italian restaurant chain that has ten outlets operating across Bengaluru and Chennai. Barbeque Nation also launched UBQ through its existing kitchen infrastructure, in November 2018 to provide a la carte Indian cuisine in the value segment, which is also being availed by delivery across 71 cities in India. The chain is 14-years old and has been fairly popular throughout its existence. However, the overall gloom in the restaurant industry may cap the potential value that could be unlocked through this IPO. "The restaurant &amp; hospitality sector, despite being amongst the worst hit due to COVID 19 has tremendous potential in a growing economy like India. With the rise of nuclear families, changing habits, increasing urban population with higher disposable income coupled with strong growth of food related e-commerce platforms,a strong branded player like Barbeque Nation stands to gain in the future. If the IPO is priced well, it could attract a lot of interest among both retail &amp; institutional investors leading to a strong listing at the bourses," said Abhijeet Ramachandran, Independent Analyst/ Co-Founder and trainer at Tips2trade SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/barbeque-nation-files-ipo-papers-to-raise-rs-1000-1200-cr/articleshow/74189528.cms" data-type="tilCustomLink">Barbeque Nation looking to raise ₹1,000-1,200 crore from IPO, files papers with SEBI</a> <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-ipo-analysis-and-comparison-with-camlin-fine-srf-and-clariant/articleshow/76953016.cms" data-type="tilCustomLink">Rossari Biotech IPO⁠— 40 scientists, China, and other factors that make the share sale hot</a>

Barbeque Nation IPO must be priced the same way as its menu—value for money

<ul><li><keyword id="6357132" type="General" weightage="20" keywordseo="canara-bank" source="Orion">Canara Bank</keyword> has raised ₹2,500 crore through <keyword id="571090" type="General" weightage="20" keywordseo="qualified-institutions-placement" source="Orion">qualified institutions placement</keyword> (QIP), earlier this week.</li><li><keyword id="6367143" type="General" weightage="20" keywordseo="lic" source="Orion">LIC</keyword>, BNP Paribas, <keyword id="48670" type="General" weightage="20" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword>, and <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> have bought stakes in the company through QIP.</li><li>Analysts believe the fundraise will help the lender focus on gradual improvement in its returns on equities.</li></ul>State-run Canara Bank has raised ₹2,500 crore through qualified institutions placement (QIP) this week. The ₹1,000 crore profit-making bank’s fundraise will help the lender focus on gradual improvement in its returns on equities, say analysts. “We believe that merger-related concerns are largely behind and the bank should report a gradual improvement in its return on assets/return on equity,” said a report by Emkay Global. Syndicate Bank was merged into Canara Bank in April 2020. The merger was in line with the government plan to amalgamate 10 public lenders into four megabanks to strengthen their market position. Analysts at Emkay Global believe the stock will rally 19% in the next 12 months as it maintains a ‘buy’ rating on the lender’s stock. Marquee investors like Morgan Stanley, BNP Paribas, Life Insurance Corporation (LIC), Volrado Venture Partners have bought stakes in the company through QIP. QIP is a fundraising tool wherein accredited investors can invest in the company. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Key investors in QIP </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% of total issue size </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LIC </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15.91% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BNP Paribas </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12.55% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Societe Generale </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.97% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indian Bank </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.37% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Prudential Life Insurance </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.37% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.16% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Volrado Venture Partners </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.05% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Other investors (lower than 5% of issue) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">38.60% </td></tr></tbody></table> Ace investor Rakesh Jhunjhunwala also bought a 1.59% stake or 2.88 crore shares in the bank. <a href="https://www.financialexpress.com/market/canara-bank-stock-may-rally-19-analysts-say-after-rakesh-jhunjhunwala-picks-up-1-59-stake-in-psu-bank/2317129/">Reportedly</a>, Rakesh Jhunjhunwala now owns shares of at least three bank stocks, including Federal Bank and Karur Vysya Bank. Besides, the fact that the company is making profits comfortably with lower levels of non-performing assets (NPAs) may also have lured investors. The lender reported a nearly three-fold jump in its net profit to ₹1,177 crore in June quarter from ₹406 crore last year helped by a dip in the provision for bad loans. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Q1FY22 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Q4FY21 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Q3FY21 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total income (in ₹ crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21,210.06 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21,522.60 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">21,479.86 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net profit (in ₹ crore) </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,177.47 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,010.87 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">696.06 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% of net NPA </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.46% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.82% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.64% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provisions for NPA </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2334.88 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4427.53 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2657.64 </td></tr></tbody></table> “After the first round of capital raise in December 2020 (₹2000 crore at ₹109 per share), the bank raised ₹2500 crore this week via the second tranche of QIP at a better price of ₹149.3 per share. We believe that the capital raise will mainly shore up its capital ratios, which remain subpar compared to peers after the merger with Syndicate Bank,” said the report by Emkay Global. <div type="image" title="Canara bank chart 3" height="900" width="1200" msid="85623238" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-total-gas-stock-up-40-percent-in-15-days/slidelist/85617151.cms">Adani Total Gas is up 40 percent in 15 days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zerodha-founder-shares-lessons-from-disappointing-listings-of-cartrade-aptus-chemplast-and-nuvoco-vistas-ipo/articleshow/85614310.cms">Cut the price or wait a bit ⁠— what the market is telling IPO aspirants</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/union-bank-of-india-is-seeking-applications-for-close-to-350-managerial-positions-here-are-the-details/articleshow/85616516.cms">Union Bank of India is seeking applications for close to 350 managerial positions — Here are the details</a>

Canara Bank stock performance to rise as marquee investors Rakesh Jhunjhunwala, Morgan Stanley and LIC invest in it

<ul><li><keyword id="2179992" type="General" weightage="20" keywordseo="rbl-bank" source="Orion">RBL Bank</keyword> announced that its long-term CEO <keyword id="186752" type="General" weightage="20" keywordseo="vishwavir-ahuja" source="Orion">Vishwavir Ahuja</keyword> has gone on leave, with Rajeev Ahuja taking up the lead in the interim.</li><li>Apart from this, the <keyword id="6354335" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> also intervened by appointing an additional director on the bank’s board.</li><li>Now, reports suggest that <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> and DMart’s <keyword id="6505089" type="General" weightage="20" keywordseo="radhakishan-damani" source="Orion">Radhakishan Damani</keyword> want to pick up a 10% stake in the bank.</li></ul>RBL Bank is in a mini crisis of sorts, with its long-term MD and CEO Vishwavir Ahuja going on a leave and the Reserve Bank of India appointing an additional director on the bank’s board. The stock tanked 20% on Monday (December 27), the first trading day after the decision was made public. <div type="image" title="RBL Bank 01_11_21 to 27_12_21." msid="88515164" hostid="261" caption="&amp;lt;p&amp;gt;RBL Bank share price since November, 2021&amp;lt;/p&amp;gt;"></div> The twist doesn’t end there, either – ace investors Rakesh Jhunjhunwala and DMart’s Radhakishan Damani have <a href="https://twitter.com/CNBCTV18News/status/1475296536980426752">reportedly</a> approached RBI to pick up a 10% stake in RBL Bank, likely to cash in on the opportunity on the horizon. On Friday, RBL Bank’s shares ended the day lower by nearly 3%. In 2021 so far, the company has lost a fourth of its value even as the Bank Nifty index gained over 11%. <cmsannotation type="cmsannotation" annotationid="Why is the RBI intervening in the affairs of RBL Bank?" comment="subhead" text="Why is the RBI intervening in the affairs of RBL Bank?">Why is the RBI intervening in the affairs of RBL Bank?</cmsannotation> While both RBI and RBL Bank have been tight-lipped about the trigger behind the central banker’s intervention, reports suggest that there’s likely more going on between the lines. One of the issues that has been repeated elsewhere is concerns about the asset quality of the bank – the gross non-performing assets (Gross NPA) ratio rose to 5.4% in the September quarter from 3.34% in the year before. Unpaid loans surged in the September quarter, as the moratorium on payments came to an end, particularly in the microfinance segment, which makes for 9% of RBL Bank’s total loan book. <div type="image" title="RBL Bank MFI GNPA ." msid="88516605" hostid="261" caption="&amp;lt;p&amp;gt;RBL Bank microfinance segment GNPA&amp;lt;/p&amp;gt;"></div> However, the rise in bad loans may not be reason enough for the RBI to step in. Earlier this year, RBI had approved Vishwavir Ahuja’s extension as the bank’s CEO till June, 2022. Ahuja going on leave mid-way through his term also signals that there are deeper issues at the bank which have not been disclosed to the public yet. “The sequence of events leading to the sudden exit of Mr. Vishwavir Ahuja along with the induction of Dayal from the RBI on the Board as additional member indicates that everything is not ok with the bank,” noted a letter by All India Bank Employees Association (AIBEA) to Finance Minister Nirmala Sitharaman. <cmsannotation type="cmsannotation" annotationid="If Jhunjhunwala and Damani are interested, there may be some things working at the bank" comment="subhead" text="If Jhunjhunwala and Damani are interested, there may be some things working at the bank">If Jhunjhunwala and Damani are interested, there may be some things working at the bank</cmsannotation> Billionaire investors Rakesh Jhunjhunwala and Radhakishan Damani reportedly want to pick up a 10% stake in RBL. The two are yet to comment on the matter and investors must take these unconfirmed reports with a handful of salt. As the following meme on social media reminds us: <div type="image" title="RJ RD RBL meme" msid="88516710" hostid="261"></div> According to RBL Bank’s new interim CEO Rajeev Ahuja, the bank’s financials remain strong. “These developments are not on account of any concern on advances, asset quality and deposits level of the bank. The bank has the full support of the RBI,” he said. In the September quarter, RBL posted a net profit of ₹30 crore as against a loss of ₹459 crore in the quarter before. This, the bank says, was due to an increase in provisions for the June quarter. Beyond the profits, RBL Bank’s fundamentals remain strong. Its liquidity coverage ratio stood at 155%, as against the 100% mandated by RBI. This means that in the short-term, the bank has enough cash to meet its obligations. RBL Bank’s credit card business – which constitutes 22% of the company’s total loan portfolio – has been a fast growing segment for the company. In fact, one broking firm, B&amp;K Research, recently argued that RBL’s credit card business is performing better than SBI Card, the country’s <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">second largest credit card issuer</a>. However, investors should keep in mind that it is still a small player with a 4% market share in the number of cards issued ⁠— even though it has grown from a mere 1% in 2017 ⁠— is trailing far behind SBI Card’s 19% market share. <cmsannotation type="cmsannotation" annotationid="How can the RBI appoint directors on a private bank’s board?" comment="subhead" text="How can the RBI appoint directors on a private bank’s board?">How can the RBI appoint directors on a private bank’s board?</cmsannotation> RBI has in the past appointed additional directors on the boards of banks like Yes Bank, Dhanlaxmi Bank, Ujjivan Small Finance Bank among others. According to Section 36AB of the Banking Regulation Act, 1949, RBI can appoint additional directors to protect the interests of the bank, its depositors, the banking regulations or the overall public interest. Update: Rakesh Jhunjhunwala has now <a href="https://twitter.com/blitzkreigm/status/1475310523960815622">denied</a> reports of acquiring a stake in RBL Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/rbl-bank-zee-entertainment-hp-adhesives-and-adani-transmission-among-hot-stocks-on-december-27/slidelist/88514134.cms">RBL Bank, Zee Entertainment, HP Adhesives, and Adani Transmission among hot stocks on December 27</a> <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">Income Tax department reportedly raids Xiaomi, Oppo and OnePlus offices in India</a> <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">Here’s why Axis Bank may be willing to pay $2 billion to buy Citi’s India ops</a>

RBL Bank slumps 20% after CEO goes on leave

<ul><li>Shares of newly listed food delivery company <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> gained 22% since its listing on July 23.</li><li>The company’s market capitalisation has reached ₹1.10 lakh crore as of July 26.</li><li>While Zomato stock is on an uptrend, experts still doubt the fundamentals of the company to have bagged such a huge valuation.</li></ul>After a strong listing on exchanges on July 23, shares of food delivery firm Zomato continue to impress investors as it gained over 22% from its listing price on July 23. On July 26, shares of the company closed 11.92% higher at ₹140.85. Promoters and investors of Zomato made a huge chunk from its 50% premium listing of the shares. However, is the food delivery company, which is into losses, really worth so much of valuation? This question has been bothering many analysts and market experts. Ace stock market investor Rakesh Jhunjhunwala, on July 24, has reportedly described the company’s stock as ‘tulip mania’. Tulipmania is a major commodity bubble, which took place in the 17th century when Dutch investors began to madly purchase tulips, pushing their prices to unprecedented highs. “Show me the cash-flow! Zomato received ₹1 lakh crore market capitalisation yesterday (July 23), but when is it getting ₹3,000 crore of cash-flow? It doesn’t matter how much valuations you get. What is more important is how long the company lasts. The world is giving too much valuations to the digital [sic] change. Such valuations are not sustainable, in my view,” <a href="https://www.money9.com/news/markets/rakesh-jhunjhunwala-says-zomato-a-tulip-mania-raises-questions-on-cashflow-60109.html">said Jhunjhunwala</a> during a keynote address at an event organised by Equirus. Not only Jhunjhunwala, but famous valuation expert Aswath Damodaran, Professor of finance at the Stern School of Business said Zomato is a money-losing, cash burning enterprise with overvalued valuation. On his <a href="http://aswathdamodaran.blogspot.com/2021/07/the-zomato-ipo-bet-on-big-markets-and.html">blog</a> -- The <keyword id="9029084" type="UNKNOWN" weightage="20" keywordseo="zomato-IPO">Zomato IPO</keyword>: A Bet on Big Markets and Platforms! -- Damodaran explained his rationale on why he said the company’s stock is overvalued and expensive. “With my upbeat story of growth and profitability, the value that I derive for equity is close to ₹39,400 crore (about $5.25 billion), translating into a value per share of ₹41. That may seem like a lot to pay for a money-losing company with less than ₹2,000 crore in revenues in the most recent year… That said, the stock's pricing (₹72-75 per share) makes it too expensive, notwithstanding my story,” said Damodaran. Meanwhile, many analysts have cautioned against investing in Zomato due to its history of net losses and anticipated increasing expenses in the future. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/check-rolex-rings-ipo-open-and-close-date-allotment-listing-date-and-everything-you-need-to-know/articleshow/84755686.cms">Another IPO in July: Rolex Rings to raise ₹731 crore through public listing </a> <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again—Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’</a>

While investors are still upbeat on Zomato stock, experts find it overvalued and expensive

<ul><li>The company’s shares started trading at ₹848 at 9:45 a.m.</li><li><keyword id="154694" type="General" weightage="20" keywordseo="star-health" source="Orion">Star Health</keyword>’s market cap was at ₹48,850 crore at the same time.</li><li>The company’s shares were subscribed only 79% in the three-day bidding process.</li></ul>Ace investor Rakesh Jhunjhunwala-backed Star Health and Allied Insurance listed on the stock exchanges today, December 10, at a discount of 5.69%. The company’s shares started trading at ₹848 at 9:45 a.m. The company’s market cap was at ₹48,850 crore at the same time. The price band for Star Health and Allied Insurance’s IPO was set at ₹870-900 per share. Star Health and Allied Insurance did not receive a great response from investors in the three days of IPO bidding process, between November 30 and December 2. The IPO bidding time is usually from 10 a.m. to 5 p.m. The issue has only been <a href="https://www.businessinsider.in/stock-market/news/star-health-insurance-ipo-subscribed-only-79-on-last-day-issue-extended-till-7-p-m-/articleshow/88053197.cms">subscribed 79% till 4:00 p.m</a>. on December 2, so the issue was extended till 7 p.m., for retail and eligible employees. For non-institutional investors the deadline had been extended till 6 p.m. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investor Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription (Times) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified 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;">1.03 </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;">019 </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;">1.10 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employees </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">.10 </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;">Overall </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;">0.79 </td></tr></tbody></table> Star Health’s IPO received bids for 3.5 crore equity shares as against 4.4 crore shares available for subscription. The poor demand for the health insurer’s IPO coincides with the fact that analysts feel that Star Health and Allied Insurance’s IPO is overvalued. Non-institutional investors and employees of the company have skipped the IPO as well, indicated in the subscription figures. The IPO consisted of a fresh issue of shares worth ₹2,000 crore and an offer for sale of 5.83 crore shares by existing promoters and shareholders. The grey market premium (GMP), premium at which investors are comfortable buying the shares before it gets listed on a stock exchange, was at a negative ₹80 on December 10 before the listing. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/infosys-auto-stocks-rbl-bank-and-star-health-to-be-watched-out-for-on-december-10/slidelist/88198314.cms" data-type="tilCustomLink">Infosys, auto stocks, RBL Bank and Star Health to be watched out for on December 10</a> <a href="https://www.businessinsider.in/stock-market/news/metro-brands-ipo-opens-today-and-here-are-all-the-important-details-you-need-to-know/articleshow/88194908.cms" data-type="tilCustomLink">Metro Brands’ IPO opens today — here are all the important details you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/shriram-properties-ipo-today-is-the-last-day-to-subscribe/articleshow/88188969.cms" data-type="tilCustomLink">Today is the last day to subscribe to Shriram Properties’ IPO — GMP at ₹12</a>

Rakesh Jhunjhunwala-backed Star Health lists at a discount of nearly 6%

<ul><li>Shares of Easy Trip Planners have doubled since its listing in March 2021.</li><li>Prior to internet startup Zomato, 2021 saw two fintech companies getting listed -- Nazara Technologies and Easy Trip Planners.</li><li>Both companies gave strong returns to investors since IPO as Easy Trip Planners surged 104% and Nazara Technologies gained 19% so far (not to forget the 80% listing premium).</li><li>On July 23, shares of Zomato made a debut with over 50% premium to its issue price.</li></ul>While there has been a lot of buzz around the initial public offering (IPO) of food delivery startup Zomato, India’s previous <keyword id="965928" type="PERSON" weightage="20" keywordseo="Tech-IPOs">tech IPOs</keyword> of this year have also given investors a few reasons to cheer. Shares of Easy Trip Planners have doubled since its listing on March 19, 2021. The company operates the EaseMyTrip.com website. It offers a range of travel-related products and services for end-to-end travel solutions. <div type="image" title="Easy trip planners" height="900" width="1200" msid="84674195" hostid="261"></div> At the same time, shares of Nazara Technologies have gained 19% since its listing on March 30, 2021. Adding to it, it made a bumper market debut with 80% premium over the issue price. Nazara Technologies is the first gaming company in India to head for the public markets, and has also garnered a lot of market interest as it is also backed by ace stock market investor Rakesh Jhunjhunwala. Nazara holds the licenced mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. <div type="image" title="nazara tech share chart 2" height="900" width="1200" msid="84674215" hostid="261"></div> Robust returns by these internet companies are important cues that will set the mood for upcoming IPOs like Paytm, PolicyBazaar and Delhivery. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">Info Edge’s remaining stake in Zomato is worth ₹15,000 crore </a> <a href="https://www.businessinsider.in/business/news/uber-made-a-billion-dollar-from-zomatos-listing-without-spending-a-single-penny/articleshow/84672970.cms">Uber made a billion dollars from Zomato’s listing, without spending a single penny </a>

Here’s how Indian tech IPOs of 2021 before Zomato have fared so far

<ul><li>Billionaire investor <keyword id="6398943" type="UNKNOWN" weightage="60" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword> believes <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> should be banned. </li><li>"I think it's speculation of the highest order. I don't want to join every party in town. I think the hangover is much worse," <a href="https://www.cnbc.com/2021/02/23/investing-billionaire-jhunjhunwala-says-india-should-ban-bitcoin-.html">he told CNBC</a> on Tuesday.</li><li>He also thinks Indian regulators should ban the token and focus on an Indian digital currency.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a></li></ul>Billionaire investor Rakesh Jhunjhunwala joined the chorus of bitcoin bulls on Tuesday, saying in an interview that regulators should crack down on the popular <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword>. "I think it's speculation of the highest order. I don't want to join every party in town. I think the hangover is much worse," <a href="https://www.cnbc.com/2021/02/23/investing-billionaire-jhunjhunwala-says-india-should-ban-bitcoin-.html">he told CNBC</a>. "I will never buy bitcoin in my life."Jhunjhunwala, sometimes referred to as India's Warren Buffet, also said that regulators in India should take a stand.The Indian government has yet to implement laws on cryptocurrencies, but in an upcoming session, members of the parliament are said to be <a href="https://www.coindesk.com/india-would-ban-private-cryptocurrencies-under-proposed-legislation">considering banning "private cryptocurrencies."</a> This will make India one of the few countries in the world to do so. There is also speculation that the Indian government plans to create its own <a href="https://www.cnbc.com/2021/01/30/the-indian-government-may-ban-cryptocurrencies-like-bitcoin.html">national cryptocurrency</a>. "I think regulators should step in and ban bitcoin," said Jhunjhunwala, who is also a partner at Rare Enterprises, a privately owned stock trading firm. "And they should focus on the digital rupee."Apart from using bitcoin as a hedge against inflation, many investors also see it as a a future method of transacting. But the billionaire says the volatility of the digital asset will make this difficult."Something that fluctuates 5% a day, 10% a day, cant be a currency," the billionaire said. "The power to issue currencies... should only be with the state." On Monday, US Treasury Secretary <a href="https://markets.businessinsider.com/currencies/news/janet-yellen-bitcoin-is-an-extremely-inefficient-way-to-transact-2021-2-1030109052">Janet Yellen also cast doubt</a> on the utility of bitcoin as a payment method."I don't think that bitcoin is widely used as a transaction mechanism," Yellen told the <a href="https://www.nytdealbookconference.com/dealbookdc2020/827493">DealBook DC Policy Project</a>. "It's an extremely inefficient way of conducting transactions and the amount of energy that's consumed in processing those transactions is staggering."Bitcoin staged an epic rally in February before slumping at the start of this week. The token <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-plunges-valuation-fears-after-record-shattering-rally-2021-2-1030108132">breached the $58,000-level</a> on Sunday, while it <a href="https://markets.businessinsider.com/currencies/news/bitcoin-market-value-1-trillion-for-the-first-time-cryptocurrency-2021-2-1030102808">hit a $1 trillion market capitalization</a> for the first time last Friday.

Bitcoin is 'speculation of the highest order' and should be banned, says billionaire investor Rakesh Jhunjhunwala

<ul><li>India's iconic stock picker Rakesh Jhunjhunwala made a sexist joke. </li><li>He called 'long-term investing' the wife, and 'short-term' speculation, the 'mistress'. </li><li>This is not the first time the investor worth $2.7 billion has made an example of women.</li></ul>Rakesh Jhunjhunwala is India's most famous stock picker, and the largest individual investor in the country's share market. But even the man who is reportedly worth $2.7 billion is feeling more nervous with age. "I must put 5-10% of my money into (savings products)... age is catching up, and I should limit my risk appetite," Jhunjhunwala <a href="https://www.cnbctv18.com/market/big-bull-rakesh-jhunjhunwala-says-time-to-keep-some-money-off-the-street-2213231.htm" data-type="tilCustomLink" target="_blank">said</a> on Wednesday. This is a person who admittedly loves to gamble. He has a fixed deposit of ₹50,000 ($700) in a bank and ₹ 1 crore in public provident fund, while rest of the investments are in equities. Now, he wants to leave behind 5% of his fortune in fixed deposits for his two kids-- that would be about $135 million. The statements have come after the carnage in mid-cap stocks in India last year, when the whiskey-lover billionaire <a href="https://www.moneycontrol.com/news/business/markets/rakesh-jhunjhunwalas-portfolio-picks-slip-up-to-30-in-2018-2555193.html" data-type="tilCustomLink" target="_blank">lost</a> a lot of money. Jhunjhunwala had a good advice for his followers, but his words were in bad taste. He said, people to invest in stocks for the long term, and speculate less, but his analogy was abhorrent. "The outspoken investor compared share trading to a mistress and longer-term investing as a wife, and recommended investors to keep both happy," news agency PTI reported. In 2016, the Associated Press style book disallowed the use of the word 'mistress' for being sexist. "The word “mistress” has no male equivalent and means different things in different parts of the world, so the AP now recommends avoiding the term and using “companion,” “friend,” or “lover” if applicable. “Whenever possible,” the new entry says, “phrasing that acknowledges both people in the relationship is preferred: ‘The two were romantically (or sexually) involved," the Columbia Journalism Review <a href="http://www.cjr.org/language_corner/a_matter_of_ap_style.php" data-type="tilCustomLink" target="_blank">reported</a>. Perhaps, he could have said it like Warren Buffett— “Someone’s sitting in the shade today because someone planted a tree a long time ago." Not long ago, Jhunjhunwala himself had said it differently-- "Give your investments time to mature. Be Patient for the world to discover your gems.” This time, he let himself down with the choice of words. But then, this is not the first time that Jhunjhunwala has made a sweeping statement about women. "As I told you markets are like women, you have to be patient," he <a href="http://www.moneycontrol.com/india/newsarticle/news_print.php?autono=356959&amp;sr_no=0" data-type="tilCustomLink" target="_blank">told</a> CNBC-TV18. He also <a href="http://www.moneycontrol.com/india/newsarticle/news_print.php?autono=356959&amp;sr_no=0" data-type="tilCustomLink" target="_blank">said</a>, "If a girl is beautiful, a suitor will come. If a stock is beautiful, a suitor will come. So I don't search for suitors when I buy the stock." A chartered accountant himself, and the son of an income tax officer, Jhunjhunwala is a respected investor in India, who started investing when the Sensex was at 150. Today, the benchmark index is at over 37,000. While he is not active on social media, a twitter handle dedicated by his fans has over 61,400 followers. Any rumour of his interest has taken <a href="https://www.business-standard.com/article/companies/rakesh-jhunjhunwala-acquires-1-4-stake-in-spicejet-114112801070_1.html" data-type="tilCustomLink" target="_blank">stocks</a> to soaring heights. He was famously called 'India's <keyword id="71133" type="PERSON" weightage="20" keywordseo="Warren-Buffet">Warren Buffet</keyword>', a title he gracefully <a href="https://www.financialexpress.com/market/heres-rakesh-jhunjhunwalas-take-on-being-called-indias-warren-buffett/976380/" data-type="tilCustomLink" target="_blank">disowned</a>. Any contribution from him to raise awareness of the rampant sexism in India's corporate culture will be priceless. SEE ALSO: <a>A Star Money Manager In India Made A Rookie Mistake That Cost Millions</a> <a>A Whopping 40% Of India's Women Engineers Don't Have Jobs Because Of 'Rampant' Sexism At Workplace</a><ul class="breadcrumb clearfix"><li class="youhere"></li></ul>

'Age' is making Rakesh Jhunjhunwala risk averse, but not less sexist

<ul><li>Footwear retailer <keyword id="12783358" type="General" weightage="20" keywordseo="metro-brands-ipo" source="Orion">Metro Brands’ IPO</keyword> was open for subscription between December 10 and December 14.</li><li>The Rakesh Jhunjhunwala-backed company received a moderate interest from investors as it was subscribed just 3.64 times.</li><li>Shares of the company may witness a poor listing due to weak grey market premium and volatile market conditions.</li></ul>Marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India, is set to get listed on exchanges today, December 22. Shares of the company may open at a discounted price as indicated by weak grey market price and volatile market conditions. The Rakesh Jhunjhunwala-backed company received a moderate interest from investors as it was subscribed just 3.64 times. “We are seeing a change in IPO [initial public offering] sentiment amid a slight decline in the market, and the last two debutants witnessed profit bookings post-listing, as well we are seeing a decline in the GMP [grey market price] for upcoming IPOs. We may see a discount listing of Metro Brands given that its GMP trades at a discount of 10-15% currently,” said Aayush Agrawal, senior analyst at Swastika Investmart. Analysts at Angel One also expect a weak listing for Metro Brand’s stock, but they hold a positive stance for the long term investment. “On the listing day, we are expecting a slightly weak listing due to the company already commanding higher valuation and fear of [the] new COVID variant omicron (will increase the possibility of lockdown). However, we are positive on stock for the long term on the back of asset light business, strong brands and wide range of products,” said Amarjeet Maurya, assistant vice president – mid caps at Angel One. Also, the company’s financial performance in FY21 was not very great due to COVID-19 restrictions in the country that affected the entire footwear retailing segment. Its revenue from operations declined by 37.75% in FY21. In the meantime, it permanently closed 24 stores, due to significant decline in footfalls on account of COVID-19. <div type="image" title="metro brand rev" height="900" width="1200" msid="88411590" hostid="261"></div> While the fundamentals of the company remain good with close-to-zero debt in its books and generation of profits, the new COVID-19 variant may adversely affect its plan to grow its store sales in the near term. As of March 31, 2021, Metro Brands operates 586 Stores in 134 cities across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a>

Metro Brands’ IPO may open on a weak note today, GMP at 10-15% discount

<ul><li><keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> is backed by <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>, one of India’s biggest stock market investors. </li><li>The gaming and sports media company is looking to join the league of tech startups looking to go public this year. These include Zomato, Nykaa, and Delhivery. </li><li>This is the second attempt at a market debut. <keyword id="242260" type="COMPANY" weightage="20" keywordseo="Nazara">Nazara</keyword> had earlier filed the DRHP in 2018 but didn't go through with its plans.</li><li>In the last two years, Nazara has made at least seven acquisitions and raised ₹500 crore in funds.</li></ul>Indian gaming and sports media company Nazara Technologies has re-filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) as the first step towards its market debut. Nazara holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent. The public issue will see a sale of 4.96 million equity shares by Nazara’s promoters and investors. This year, Nazara’s <keyword id="3128913" type="PERSON" weightage="20" keywordseo="IPO-debut">IPO debut</keyword> could kick off a series of tech IPOs in the country as startups like Zomato, Nykaa, Delhivery are headed for the public markets. The Rakesh Jhunjhunwala-backed Nazara had first filed the DRHP in January 2018 and had even got approval from SEBI for an IPO (Initial Public Offering). However it didn’t go ahead with the launch because of a <a href="https://inc42.com/buzz/post-sportskeeda-acquisition-nazara-technologies-looks-at-ipo-in-2020/">market slump. </a> The company has been preparing for its market debut with acquisitions and funding in its kitty. Strengthening its capital base Nazara counts stock broking giant Rakesh Jhunjhunwala, IIFL Asset Management, Sequoia Capital, Plutus Wealth Management as its investors. Earlier in January 2021, WestBridge Ventures, an early investor in Nazara, had exited the company through a secondary transaction as Plutus pumped in ₹500 crore into the company. According to<a href="https://yourstory.com/2021/01/ys-learn-nazara-technologies-gaming-startup-exit-westbridge-capital"> reports</a>, the exit gave WestBridge 40 times the return on its investment. Nazara’s stakeholders <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Promoter </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;">Stake </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;">Mitter Infotech </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;">20.57% </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;">Arpit Khandelwal </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;">12.51% </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;">Rakesh Jhunjhunwala </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;">11.38% </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;">Plutus Wealth Management LLP </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;">6.91% </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;">IIFL Special Opportunities Fund </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;">6.04% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Special Opportunities Fund - Series 4 </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;">4.94% </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;">IIFL Special Opportunities Fund - Series 5 </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;">4.16% </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;">IIFL Special Opportunities Fund - Series 2 </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;">3.89% </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;">Nitish Mittersain </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;">3.49% </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;">Emerging Investment Ltd </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;">1.90% </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;">IIFL Special Opportunities Fund - Series 3 </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;">1.87% </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;">Riyaz Suterwalla </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;">1.73% </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;">Turtle Entertainment </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;">1.68% </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;">Manish Agarwal </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;">1.51% </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;">Seedfund2 International </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;">1.27% </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;">Anshu Dhanuka </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;">1.02% </td></tr></tbody></table>Source: Moneycontrol Nazara went on an acquisition spree Nazara strengthened its offerings by going on an acquisition drive. It has pumped in over $50 million in startups in the last two years. In fact, its acquisition spree even got it a ‘next Tencent’ reference in a <a href="https://economictimes.indiatimes.com/prime/technology-and-startups/nazaras-acquisitions-will-keep-it-up-to-speed-on-all-things-gaming-next-becoming-indias-tencent-/primearticleshow/79393487.cms">news report.</a> Some of Nazara’s top acquisitions <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startup </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;">Sector </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;">Investment </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;">Paper Boat Apps </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;">Mumbai-based indie studio </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;">₹83.5 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;">Sports Unity </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;">Creator of multiplayer quiz called Qunami </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;">₹7.5 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;">Sportskeeda </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;">Sports media platform </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;">₹44 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;">Bakbuck </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;">Local languages gaming platform </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;">Undisclosed </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;">Halaplay </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;">Fantasy gaming platform </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;">₹40 crore </td></tr></tbody></table> In November 2019, Nazara technologies said that it plans to invest $20 million in startups next year. This announcement was after in the same year, Nazara had already acquired five companies. “Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early stage startups accelerating the growth of these companies and the industry at large,” Nazara Technologies CEO, Manish Agarwal had said then. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/indias-parliamentary-committee-summons-facebook-twitter-officials-over-misuse-of-social-media-platforms/articleshow/80321277.cms">India's parliamentary committee summons Facebook, Twitter officials over misuse of social media platforms</a>

The Rakesh Jhunjhunwala-backed Nazara Technologies is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

<keyword id="6398943" type="PERSON" weightage="20" keywordseo="Rakesh-Jhunjhunwala">Rakesh Jhunjhunwala</keyword>, who is also known as Warren Buffet of India, has supposedly made a huge bid in the newly launched <a href="http://www.businessinsider.in/searchresult.cms?query=indigo">IndiGo IPO</a> in the HNI category. 
 Reportedly, billionaire investor Jhunjhunwala, who had also invested in SpiceJet IPO, has put the bid in upper end of the price band of the <keyword id="2399048" type="UNKNOWN" weightage="20" keywordseo="IndiGo-IPO">IndiGo IPO</keyword>. 
 
READ ALSO: <a href="http://www.businessinsider.in/IndiGos-IPO-is-a-hit-even-as-it-gets-first-time-investors-in-to-the-Indian-IPO-market/articleshow/49563342.cms">IndiGo’s IPO is a hit even as it gets first time investors in to the Indian IPO market!</a> 
 
The initial public offering of InterGlobe Aviation, parent of budget carrier IndiGo, was fully subscribed on the second day of the issue. The IndiGo IPO also saw huge bids on the third day. 
 
Reportedly, the QIB portion was subscribed 6.54 times with foreign investors bidding for 6.39 times the shares reserved for this category. 
 
READ ALSO: <a href="http://www.businessinsider.in/IndiGo-Indias-biggest-IPO-in-3yrs-is-already-a-blockbuster-Subscribed-33-on-Day-1/articleshow/49552073.cms">IndiGo, India’s biggest IPO in 3yrs is already a blockbuster! Subscribed 33% on Day 1</a> 
 
The IndiGo IPO allocated 10.87 million equity shares at Rs 765 apiece. 
 
(Image: Indiatimes)

You Searched For "ace investor rakesh jhunjhunwala" and got 13 results

Rakesh Jhunjhunwala-backed Nazara Technologies IPO set to open on March 17 — sets price band at ₹1,100-1,101 per share

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Canara Bank stock performance to rise as marquee investors Rakesh Jhunjhunwala, Morgan Stanley and LIC invest in it

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The Rakesh Jhunjhunwala-backed Nazara Technologies is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

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This billionaire investor just made a huge bid in the IndiGo IPO

BI India Bureau

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