The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too

<ul><li><keyword id="2825269" type="General" weightage="20" keywordseo="zo-rooms" source="Orion">Zo Rooms</keyword> has moved a petition to restrain <keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> from modifying its shareholding pattern.</li><li>OYO was in talks for a merger with Zo Rooms in 2015, but the talks fell through.</li><li>Zo Room’s legal counsel adds that any issuer should not be eligible to make an IPO if there are any outstanding convertible securities.</li><li>OYO has condemned Zo Rooms for misrepresentation of facts and moving to multiple forums.</li></ul>Update: The article has been updated to include the Delhi high court's verdict issued on September 29. Hotel and hospitality firm OYO is reportedly all set to hit its next milestone this week, by filing the<a href="https://www.businessinsider.in/business/startups/news/oyo-may-file-for-1-billion-ipo-next-week/articleshow/86448073.cms"> preliminary paperwork</a> for its upcoming initial public offering (IPO). However, it has found itself in the middle of another legal battle before it takes a step ahead. Hotel rooms aggregator Zo Rooms, which is managed by <keyword id="2232457" type="General" weightage="20" keywordseo="zostel" source="Orion">Zostel</keyword> Hospitality, has moved a new petition to the Delhi High Court in order to restrain OYO from modifying its shareholding pattern. This petition has been filed to restrict the hotel and hospitality giant from raising any more capital and eventually put a stop on its public issue. "An issuer shall not be eligible to make an initial public offer if there are any outstanding convertible securities or any other right, which would entitle any person with any option to receive equity shares of the issuer...,” Zo Rooms’ legal counsel TMT Law Practice said, in a <a href="https://economictimes.indiatimes.com/tech/startups/zostels-petition-in-delhi-hc-adds-a-legal-twist-to-oyos-ipo-saga/articleshow/86589984.cms">conversation</a> with The Economic Times. They added that OYO should not be allowed to file draft red herring prospectus (DRHP) till this matter is resolved. OYO may postpone its DRHP by a week, as per The Economic Times report. Court adjourns matter until next month The Delhi high court on September 29 (Wednesday) adjourned the hearing in the OYO-Zo Rooms case to October 7. It has asked ZO Rooms to submit a rejoinder on the record. Amit Sibal who was appearing on behalf of Zo Rooms, requested that their shares should be preserved till next hearing date. Sibal added that Zo Rooms intention was not to stop OYO's IPO. "Now if they go ahead and conduct the initial public offering then these shares will be no longer available for allotment to me in that eventuality. Therefore I was seeking that there be protection that if I succeed and they do not succeed in their objections to the award then at least my ability to have those shares is preserved," said Sibal. The court categorically denied this, saying that this couldn't be done without hearing the "contested matter". OYO condemns Zostel for ‘misrepresenting’ facts An OYO spokesperson told Business Insider, “OYO deplores Zostel’s repeated attempts at misrepresenting case facts and threats of forum hunting. OYO condemns Zostel’s self-serving misrepresentation of case facts to the media and it is an attempt to overreach Delhi HC [Delhi High Court] proceedings.” The hotel and hospitality giant further added that Zostel’s claims are “baseless” and termed it “forum hunting”. The term “forum hunting” or “bench hunting” is usually used when a particular petitioner goes to a specific judge or court in the hope of a favourable verdict. Meanwhile OYO’s legal counsel added that the petition filed by Zostel seeks relief “beyond the scope of award”. The award does not provide any relief that entitles them to “freeze” OYO’s shareholding pattern, the counsel said, while adding that the case does not merit. Business Insider has reached out to Zostel and the story will be updated with responses, if any. The ongoing battle The Delhi high heard the petition on September 29. The court also took up a plea by OYO to grant stay on an earlier order from the Supreme Court of India appointed arbitrator in breach of its <a href="https://timesofindia.indiatimes.com/business/india-business/oyo-in-breach-of-binding-agreement-with-zo-rooms-arbitrator/articleshow/81380041.cms">agreement</a> with Zo Rooms. OYO was in talks for a merger with Zo Rooms in 2015, but the talks fell through. This eventually led to arbitration between the two companies. Zo, citing the arbitrator's order, previously noted it is eligible for a 7% stake in OYO’s parent company Oravel Stays. In that case, Zo Rooms may be eligible for a stake worth $672 million in OYO, which is now worth $9.6 billion. OYO, however, has reiterated that the entire process of acquisition was merely at the <a href="https://www.businessinsider.in/business/startups/news/oyo-vs-zo-zostel-claims-victory-while-the-ritesh-agarwal-led-firm-says-theres-still-room-to-win/articleshow/81386851.cms">stage of exploratory discussions</a> and no definitive agreements were finalised between the two parties. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-hdfc-amc-future-group-and-other-top-stocks-to-watch-out-for-on-september-29/slidelist/86600892.cms">IndiGo, SpiceJet, HDFC AMC, Future Group and other top stocks to watch out for on September 29</a> <a href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-opens-today-and-analysts-bullish-on-the-growing-mutual-fund-industry/articleshow/86590770.cms">Aditya Birla Sun Life AMC IPO opens today, analysts bet high on the growing mutual fund industry</a> <a href="https://www.businessinsider.in/business/startups/news/swiggy-tightens-focus-on-grocery-delivery-as-zomato-steps-out/articleshow/86582683.cms">Swiggy tightens focus on grocery delivery, as Zomato steps out</a>

OYO blames Zo Rooms for ‘forum hunting’ after Zostel’s latest plea to stop its IPO

<ul><li><keyword id="2808667" type="General" weightage="20" keywordseo="OYO" source="Orion">OYO</keyword> is planning to raise somewhere between $1-1.2 billion with this public issue, as per media reports.</li><li> The offer will consist of both fresh as well as a secondary issue to provide exit opportunities to existing shareholders.</li><li>OYO has reportedly shortlisted investment banks JP Morgan, Kotak Mahindra Capital and Citi for this public issue.</li></ul><keyword id="12155947" type="General" weightage="20" keywordseo="hotel-and-hospitality-firm-oyo" source="Orion">Hotel and hospitality firm OYO</keyword> is reportedly planning to file the preliminary papers for its initial public offering (IPO) next week. The company is planning to raise somewhere between $1-1.2 billion with this public issue, according to a TechCrunch <a href="https://www.reuters.com/business/softbank-backed-oyo-file-1-bln-ipo-next-week-et-2021-09-23/https://techcrunch.com/2021/09/22/indias-oyo-to-file-for-1-billion-ipo/" data-type="tilCustomLink">report </a> <a href="https://www.reuters.com/business/softbank-backed-oyo-file-1-bln-ipo-next-week-et-2021-09-23/"></a>citing unnamed sources. The report further added that the offer will consist of both fresh as well as a secondary issue to provide exit opportunities to existing shareholders. Business Insider has reached out to OYO, seeking comments on the same. According to media reports published last month, OYO had shortlisted investment banks JP Morgan, Kotak Mahindra Capital and Citi for this public issue. OYO was founded in 2013 by Ritesh Agarwal, who is the <a href="https://www.livemint.com/companies/people/oyo-s-ritesh-agarwal-is-the-world-s-second-youngest-self-made-billionaire-11582782072380.html">second youngest</a> self-made billionaire in the world after American model and entrepreneur Kylie Jenner. It has spread its presence across 800 cities in 80 countries. The company claims to have a network of over 100,000 small hotels and homeowners. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Founder </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ritesh Agarwal </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Founded in </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2013 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Hotels </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100,000 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cities </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">800 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Country </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">80 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total funding </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$4 billion </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Last reported valuation </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$9.6 billion </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Key investors </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SoftBank, Airbnb, Sequoia </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Acquisitions </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue (FY19) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹3,749 crore </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Loss (FY19) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹456 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Over the years, OYO has received backing from some big names of the investment world. This includes SoftBank, Citadel, AirBnb, didi and more. Microsoft was the latest investor in the company. It pumped in $5 million, at a valuation of $9.6 billion. The hotels and hospitality giant has raised over $4 billion to date. OYO raised <a href="https://www.businessinsider.in/business/startups/news/oyo-gets-660-million-relief-from-investors/articleshow/84471112.cms">$660 million</a> in debt from undisclosed institutional investors to repay its past debts, strengthen balance sheets and boost product technology. "OYO is well capitalised and on the path of achieving profitability. Our two largest markets have demonstrated profitability at the slightest signs of industry recovery from the COVID-19 pandemic," the company’s chief financial officer Abhishek Gupta had said. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/aditya-birla-sun-life-amc-ipo-likely-to-open-next-week-with-a-3000-crore-issue-size/articleshow/86447721.cms">Aditya Birla Sun Life AMC IPO likely to open next week with a ₹3,000 crore issue size</a> <a href="https://www.businessinsider.in/stock-market/news/airtel-rights-issue-details-record-date-issue-price-and-more/articleshow/86446419.cms" data-type="tilCustomLink">Airtel rights issue worth ₹21,000 crore opens next month – record date, price, ratio and everything else you need to know</a> <a href="https://www.businessinsider.in/business/ecommerce/news/india-needs-to-review-how-it-wants-to-extract-tax-from-zomato-and-swiggy/articleshow/86446500.cms">India needs to review how it wants to extract tax from Zomato and Swiggy</a>

OYO may file for a $1 billion IPO next week

<ul><li>The ₹2,244 crore <keyword id="8546323" type="UNKNOWN" weightage="20" keywordseo="CAMS-IPO">CAMS IPO</keyword> was subscribed 82% on the first day. </li><li>The company has fixed the price band for its public offer at ₹1,229-1,230 per share.</li><li>Business Insider caught up with the CAMS President and the CEO Anuj Kumar and the CFO M Somasundaram in an exclusive chat to understand their business and growth plans going ahead. </li></ul>There has been a rush in the primary market this month. The successful IPOs last week — Happiest Minds Tech and Route Mobile IPO have already set the trend for the forthcoming IPO <keyword id="416894" type="ORGANIZATION" weightage="20" keywordseo="Computer-Age-Management-Services">Computer Age Management Services</keyword> (CAMS). This technology-driven financial services and infrastructure provider to the Indian asset management companies (AMC), is off to a good start. The ₹2,244 crore CAMS IPO was subscribed 82% on the first day. The IPO received bids for 10.5 million shares against an offer size of over 12.8 million shares. The IPO will remain open for subscription until tomorrow (September 23). Here are the <keyword id="9963419" type="UNKNOWN" weightage="20" keywordseo="CAMS-IPO-details">CAMS IPO details</keyword>: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Specifics </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opening date </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 21 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closing date </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 23 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO target </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,240 -₹2,242 crore </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price Band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,229-1,230 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 12 equity shares </td></tr></tbody></table> CAMS is looking to raise ₹2,242 crore from its initial public offering. And this journey to an IPO has taken 30 years. Business Insider caught up with the CAMS President and the CEO Anuj Kumar and the CFO M Somasundaram, in an exclusive chat, to understand their business and growth plans going ahead. <div type="image" title="Anuj" msid="78198916" hostid="261" caption="&amp;lt;p&amp;gt;Anuj Kumar, CAMS CEO&amp;lt;/p&amp;gt;"></div> <keyword id="9963417" type="UNKNOWN" weightage="20" keywordseo="What-does-CAMS-do">What does CAMS do</keyword>? CAMS is India’s largest mutual fund transfer agency that provides MF services and statements to asset management companies. The CEO explained since mutual funds in India are “completely outsourced on the liability operation side.” Their job is to maintain KYC for MF investors, record keeping, risk management, compliance, distributor service, commissioning among others to name a few. The company holds nearly 70% of the market share in the mutual funds RTA segment. “We have other businesses as well, but this is the core franchise that we have created over the last two and a half decades,” CAMS CEO Anuj Kumar added. The company also has other businesses as well, but mutual funds registrar and transfer agent offering forms the core of its business. “Apart from MF, we do work for the banks and non-banking institutions for insurance companies, as insurance depository participants. And, then we have a payment portal CAMS pay, and we support AIF’s and PMS in the servicing onboarding that kind of work,” he said. <div type="image" title="CAMS" msid="78198669" hostid="261"></div> Growth plans: The company is looking to diversify its revenue According to the company’s <a href="http://www.investmentbank.kotak.com/downloads/computer-age-management-services-limited-RHP.pdf">red herring prospectus</a> nearly 87% of company’s revenue comes from Mutual Funds, out of which nearly 70% comes from the top 5 clients of the company, the CFO M Somasundaram revealed during the interview. “Think of the largest mutual funds in the country— SBI Mutual Funds, HDFC, ICICI, Birla and Kotak— these five will form top clients for us,” Kumar said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CAMS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2019 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mutual funds contribution to overall revenue </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.60% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.80% </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.90% </td></tr></tbody></table> “We are trying to diversify our revenues from other streams, largely in the FSS arena, the financial service, largely derived from B2B businesses,” Kumar added. The company is eyeing the insurance repository business where they have almost 40% market share. They expect that business to go through inflexion points over the coming years to register growth. Kumar also added that insurance repository business, CAMS pay and other small businesses contributed 12-13% of the overall revenue pie, traditionally. And, the management is focused on improving the state of that. However, they still believe that over the coming years “Mutual Funds will continue to remain the mainstay of the company as far as revenue contribution is concerned”. The lockdown impact Despite being a “completely technologically driven company,” the CAMS business wasn’t immune to the coronavirus induced lockdown either. Kumar told Business Insider that during the lockdown period April-May, all branches of CAMS were shut and the physical selling activity which largely happens in branches of banks and happens in people’s houses was not possible due to the spread of the virus. Another factor that impacted its business was the downfall in the overall market. “Valuation losses were there overall for the industry; that phase lasted about two months for April and May.” However, in June, July and August, the company saw a significant reversal and the business started to come back as the equity market recovered, Kumar said. “They are probably still about 6% below the peak, but they have come back a long way; they were down almost 30%.” However, the impact can still be seen as “at the peak, we were servicing just short of 20 lakh crore of assets now we support about 19 lakh crore. So there was some change that happened during the COVID phase.” SEE ALSO: <a href="https://www.businessinsider.in/retail/news/amazon-pumps-in-money-into-more-to-take-on-the-heavyweights-reliance-retail-and-dmart/articleshow/78190570.cms" data-type="tilCustomLink">Amazon pumps in money into MORE to take on the heavyweights Reliance Retail and DMart</a> <a href="https://www.businessinsider.in/tech/apps/news/paytm-trains-its-guns-on-google-while-the-payments-app-is-back-in-play-store/articleshow/78190088.cms" data-type="tilCustomLink">INTERVIEW: Paytm trains its guns on Google while the payments app is back in Play Store</a> <a href="https://www.businessinsider.in/business/news/sebi-asks-nse-to-divest-entire-37-stake-in-cams/articleshow/74104658.cms" data-type="tilCustomLink">Sebi asks NSE to divest entire 37% stake in CAMS</a>

CAMS IPO subscribed 82% on day one itself — CEO shares the 30-year journey to an IPO

Online auto classified platform <keyword id="1980082" type="PERSON" weightage="20" keywordseo="Cartrade">CarTrade</keyword> Tech on Friday said it has raised Rs 900 crore from anchor investors ahead of its initial public offering, which opens on Monday. The company has decided to allocate 55,59,664 equity shares to anchor investors at Rs 1,618 apiece, valuing the transaction size to Rs 899.55 crore, according to a circular uploaded on the BSE website. Nomura, HSBC Global, Goldman Sachs, Jupiter India Fund, Elara India Opportunities Fund, Aditya Birla Sun Life Insurance Company, Bajaj Allianz Life Insurance Company, Bharti Axa Life Insurance Company, Axis Mutual Fund (MF), HDFC MF, Kotak MF and Sundaram MF are among the anchor investors. The initial share-sale will be entirely an offer for sale (<keyword id="883402" type="ORGANIZATION" weightage="20" keywordseo="OFS">OFS</keyword>) of 18,532,216 equity shares. Among the investors participating in the OFS are -- CMDB II (22.64 lakh equity shares), Highdell Investment Ltd (84.09 lakh shares), Macritchie Investments Pte Ltd (50.76 lakh shares), and <keyword id="11723135" type="UNKNOWN" weightage="20" keywordseo="springfield-venture-international">Springfield Venture International</keyword> (17.65 lakh shares). Currently, CMDB II holds 11.93 per cent stake in CarTrade, Highdell Investment owns 34.44 per cent stake, MacRitche Investment has 26.48 per cent shareholding, and Springfield Venture International holds 7.09 per cent stake in the company. The public issue, with a price band of Rs 1,585-1,618 a share, will open for subscription on August 9 and conclude on August 11. At the upper end of the price band, the <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> is expected to mobilise Rs 2,998.51 crore. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Founded in 2009, CarTrade is backed by marquee investors -- <keyword id="6402698" type="UNKNOWN" weightage="20" keywordseo="warburg-pincus">Warburg Pincus</keyword>, Temasek, JPMorgan and March Capital. The CarTrade platform allows customers to buy and sell used cars as well as new cars. The firm is a multi-channel auto platform with coverage and presence across vehicle types and value-added services through its brands -- CarWale, CarTrade, <keyword id="209119" type="COMPANY" weightage="20" keywordseo="Shriram-Automall">Shriram Automall</keyword>, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz. The company's consumer platforms i.e. CarWale, CarTrade and BikeWale, collectively get 3.2 crore average unique visitors every month (during the three-month period ending March 31, 2021), and Shriram Automall and other auction platforms had 8,14,316 vehicles listed for auction during FY21. The company generates revenues from commission and fees from auctions and re-marketing services, online advertising solutions, lead generation, technology-based services to OEMs, dealers, banks and other financial institutions, and inspection and valuation services. Axis Capital, Citigroup Global Markets India, Kotak Mahindra Capital Company and <keyword id="6600258" type="UNKNOWN" weightage="20" keywordseo="Nomura-Financial-Advisory">Nomura Financial Advisory</keyword> and Securities (India) Private Limited are the investment bankers to the issue. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/krsnaa-diagnostics-ipo-open-today-check-out-how-to-apply/articleshow/85017014.cms">Krsnaa Diagnostics IPO opens—here is all you need to know</a> <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">These are some of the highest paid founders of Indian startups tapping capital markets this year</a>

CarTrade raises ₹900 crore from anchor investors ahead of its IPO, issue opens on Monday

<ul><li>Amazon Prime members will get early access a day before the official launch of the annual sale.</li><li>Customers will save 28% more with a GST invoice on all transactions across categories.</li><li>Flipkart will host its Big Billion Day sale from October 7 to October 12.</li></ul>Ecommerce giant Amazon will flag off its month-long festive sale ‘<keyword id="3704574" type="General" weightage="20" keywordseo="great-indian-festival" source="Orion">Great Indian Festival</keyword>’ from October 4 onwards. As usual, Prime members will get early access a day before the official launch of the annual sale. They will also get additional cashback, extended no-cost EMIs. Manish Tiwary, vice president at India consumer business at Amazon India, said customers will save 28% more with goods and service tax (GST) invoices on all transactions across categories — like laptops, printers, networking devices, office electronics, vacuum cleaners and more — from top brands like HP, Lenovo, Canon, Godrej, Casio and more. The e-commerce giant has announced over 1000 new product launches from brands like Samsung, OnePlus, Xiaomi, Sony, Apple, Boat and others. He further noted that more customers from Tier II and III seasons are expected to shop from the platform this year as well. The company has also introduced Marathi and Bengali interfaces — in addition to Kannada, Telugu, Hindi, English and other interfaces — to attract more customers from smaller towns and cities. “This year’s Great Indian Festival is a celebration of the resilience of local shop owners and small and medium sellers. We continue to innovate on behalf of our customers to offer the widest selection, value and convenience, ensuring fast delivery of their #KhushiyonKeDibbe, to get them ready for the festive season from the comfort and safety of their homes," Tiwary added. Amazon's <keyword id="3723185" type="General" weightage="20" keywordseo="great-indian-festival-sale" source="Orion">Great Indian festival sale</keyword> coincides with Flipkart’s Big Billion Days, which will start from October 7 to October 12. Flipkart Plus members will be given early access to the Big Billion Days sale. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-to-open-on-september-29-with-price-band-695-712-per-share/articleshow/86475370.cms">Aditya Birla Sun Life AMC’s ₹2768 crore IPO will open on September 29</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-calendar-users-can-now-group-chat-with-meeting-attendees-before-during-or-after-the-event/articleshow/86474268.cms">Google Calendar now lets you group chat with meeting attendees, before, during, or after the event</a>

Amazon to kick off month-long Great Indian Festival sale from October 4 onwards

Mumbai, <keyword id="64459" type="General" weightage="20" keywordseo="corporate-India" source="Orion">Corporate India</keyword>'s deal activity witnessed a 58 per cent jump in value terms to USD 3.1 billion in July, largely driven by big-ticket transactions, while caution in the private equity world led to a reduction in overall volumes. According to data collated by Grant Thornton, the month of July recorded 95 deals worth USD 3.1 billion, registering a 46 per cent plunge in volume terms and 58 per cent increase in value terms. Shanthi Vijetha, a partner at the consultancy, said the impact of the global slowdown is visible in the deal street which has been subdued since the beginning of the year. While cross-border transactions propelled the surge in deal value, caution in the private equity world led to a reduction in overall volumes, Vijetha said. This surge in deal value was anchored by 29 deals valued at USD 2 billion, where six high-value transactions encompassing traditional sectors like IT, auto, retail, and manufacturing took the centre stage. The deal value was driven by Proximus Opal's 58 per cent controlling stake acquisition in Route Mobile for USD 721 million. As per the report, outbound activity reached its highest monthly level in 2023, while inbound activity recorded the highest monthly value since July 2021. Remarkably, cross-border activity accounted for five of the top six M&amp;As for the month. Private equity investments declined to USD 1.1 billion across 66 deals, marking the second lowest monthly volume and values since August 2020. The startup sector dominated the deal activity, accounting for 44 per cent. Bain Capital's 90 per cent stake buy in Adani Capital and Adani Housing Finance for USD 176 million was the biggest deal in the sector. The IPO landscape was not bad with three issues collectively raising USD 187 million across the IT, retail, and banking sectors. This is in stark contrast to the stagnant IPO landscape of July 2022. Similarly, qualified institutional placements saw momentum, showcasing four issues valued at USD 668 million, thanks to the strategic QIP allotments by Aditya Birla Capital and Federal Bank, commanding 87 per cent of the QIP value. Year-to-date 2023 deal volume fell 42 per cent decrease, while value plummeted 75 per cent to USD 26.2 billion.

Corporate India's deal activity jumps 58% to $3.1 billion in July: Report

<ul><li>IT companies may not be hiring talent as slowdown curbs growth, but employees continue to search for jobs online. Naukri’s monthly active users at 12.1 million. </li><li>Cricket continued to give a boost to online food ordering apps in March. Daily active users online continue to increase month-on-month. </li><li>Despite the popularity of dating apps, young Indians continue to frequently visit online marriage portals and apps to find their true love. Matrimony apps see a jump in monthly and daily active users in March. </li></ul>On the face of it, there may be little or no connection between the white willow and online food ordering, but data shows that women in blue made Indians rather hungry in the month of March. And yes, most Indians also are as keen on marriage as ever, with matrimonial portals continuing to see higher month-on-month user metrics and app downloads. Three years after the pandemic struck, Indians are still addicted to their apps and are still looking for their dream job, if they are not planning their next vacation. From ordering food online to looking for jobs and homes online, Indian consumers are not putting the brakes on their online purchases just yet, even after the economy opened up completely post the lockdowns. App downloads continued in March as did higher monthly traffic across key consumer tech platforms. In the month of March, monthly and daily active users continued to surge across apps catering to consumer needs like online food ordering, travel, property rentals/purchases, groceries or even jobs. Yes, job searches have seen an unprecedented surge in the month of March shows data from Sensor Tower’s monthly data print. Leading technology services players may have slowed down on hiring, but employees are still flocking to job portals. According to a report by Bank of America, Naukri maintained its totem pole position in MAUs (monthly active users) with 12.1 million (+7.2% month on month) users and witnessed increase in daily active user base at 2.1 million (+6% MoM) in <keyword id="10294782" type="General" weightage="20" keywordseo="march-2023" source="Orion">March 2023</keyword>. LinkedIn has the highest DAUs or daily active users at 3.7 million and is a clear leader in terms of user retention at 33% followed by Naukri at 18%, says the report. Data shows that consumer apps have continued to see good traction in the month of March 2023 compared to February. What consumers have been interestingly visiting less frequently —- are the beauty apps like Nykaa and Purplle — whose traffic is down month-on-month. Beauty brands believe that omnichannel and physical store visits are the reason for the decline in online purchases. Food delivery &amp; grocery continue to see demand According to Bank of America’s India Internet report, a majority of online food delivery apps saw an increase in fresh app downloads and user metrics, while Swiggy saw a marginal decline in fresh downloads. Online food delivery apps launched special match day games to increase engagement, which resulted in higher ordering too. While Zomato launched ZPL prediction, Swiggy launched Match Day Mania. Not surprising that monthly active users of Zomato and Swiggy grew 4.9%/4.6% MoM to 53 million/35 million. Daily active users for both Zomato and Swiggy increased 2-3% MoM to 6.1 million/4.4 million, respectively. Domino’s Pizza continued to be third in all metrics. Swiggy showed a higher retention at 13% vs Zomato at 11%. Real estate continues to be hot property online Housing continued to see the highest online traffic, as searches for rented and ownership continued to jump. Both monthly active users and app downloads were healthy for online players. Monthly active users increased sequentially for all the apps catering to housing, while daily active users grew for 99acres and Housing. Traffic on Magicbricks remained stable. Monthly active users on 99acres MAUs witnessed steep growth +14.3% compared to February. In terms of user retention, Housing continues to lead at 11%, followed by 99acres and Magicbricks at 9%. Revenge travel is still a big deal With the onset of summer, consumers are planning their next trip, which has resulted in strong traction for online travel apps like Cleartrip and Makemytrip. User metrics improved for Cleartrip, GoIbibo and MakeMyTrip; while Yatra and EaseMyTrip witnessed a decline, says Bank of America. MakeMyTrip monthly and daily users inched upwards (+9%/4% MoM) ahead of the upcoming summer holiday season in May/June 2023. Cleartrip MAUs/DAUs both grew 44.8% MoM to 1.3 million /0.1 million, respectively, majorly driven by launch of bus services in over 90 cities and various offers like zero convenience fees and flat 10% off on all bus bookings. MakeMyTrip continues to be the leader in MAUs, DAUs and retention; with 15.8 million MAUs/1.5 million DAUs while Goibibo has 8.5 million MAUs/ 0.7 million DAUs. High five for fashion apps As social distancing has given way to more contact intensive interactions, demand for fashion apparel has also increased meaningfully. Consumers continue to look for bargains online and Ajio’s All Star sale has delivered the numbers. According to data, Ajio’s monthly active users showed a sharp increase sequentially as downloads of the app increased. Ajio’s MAU/DAU base rocketed 22%/26% sequentially. Myntra/Nykaa Fashion’s MAU base improved 3% MoM each while DAU base saw a slight 1-2% decline. In terms of user retention, Myntra is at 17% followed by Ajio at 16%, says the report. Marriages are forever Young Indians continue to look for their perfect partner. User metrics and downloads witnessed an increase across all apps. Shaadi.com continued to be a leader with monthly and daily active users at 9 million/2.9 million, respectively in March 2023. Jeevansathi’s monthly numbers grew 13% month-on-month, while daily users increased by 8% compared to February. BharatMatrimony user metrics remained largely stable. Jeevansathi has the highest user retention at 34% followed by BharatMatrimony at 33%. SEE ALSO <a href="https://www.businessinsider.in/stock-market/markets/news/-some-sectors-will-benefit-from-lower-energy-prices-in-fy24-a-balasubramanian/articleshow/99722850.cms">Earnings to remain volatile in FY24, but some sectors will benefit from lower energy prices, says Aditya Birla Sun Life MF’s CEO A Balasubramanian</a> <a href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a>

Consumers continue to throng apps in search of Roti, Kapda & Makaan, March sees healthy user metrics and app downloads

<ul><li>India’s luxury skincare and <keyword id="16218" type="General" weightage="20" keywordseo="cosmetics" source="Orion">cosmetics</keyword> segment is growing at a very rapid clip. India is a focus market for the world’s 2nd largest cosmetics company, as the pandemic has shown that demand is not just limited to the mega cities. </li><li>Demand for luxury skincare is growing rapidly in cities like Bhopal, Ahmedabad, Guwahati and Pune as consumers are uptrading to luxury. </li><li>Sales momentum in India has spurred the world’s second-largest beauty and cosmetics company to appoint <keyword id="4422724" type="General" weightage="20" keywordseo="Manushi-Chhillar" source="Orion">Manushi Chhillar</keyword> as its global brand ambassador. </li></ul>India’s rapidly evolving consumer base is kicking up quite a storm in the beauty world’s teacup. And leading this charge are India’s Tier 2 &amp; 3 cities like Bhopal, Guwahati, Ahmedabad and Pune that cannot have enough luxury skincare and make-up. India’s beauty market may be $16 billion in size, but it has been given a short shrift by most global biggies, barring Estée Lauder Companies Inc. Not surprising then that the world’s second-largest cosmetics company has seen its sales double in the last two years. A key driver of this trend is the voracious demand for social media content on health and beauty over the last three years of the pandemic. While still small in size, India’s luxury skincare and cosmetics segment is growing at a very rapid clip. The size of the prestige beauty and personal care category is $731.5 million, while prestige skincare is a $191.9 million business, according to Euromonitor. Skincare is one of the fastest-growing categories, clocking a compound annual growth rate (CAGR) of 6.4% in India over the past 5 years. While L’Oreal Groupe is the largest player in India too, with a market share of 14.9%, Estée Lauder Companies comes next with a market share of 9.5% in beauty and personal care (see table). Estée Lauder’s portfolio of brands comprise iconic names like Bobbi Brown, La Mer, Clinique, MAC Cosmetics and Tom Ford Beauty, among many others. It has over 700 brands under its portfolio spanning skincare, make-up and fragrances. <keyword id="17352206" type="General" weightage="20" keywordseo="Dikshita-Shukla" source="Orion">Dikshita Shukla</keyword>, India brand head at Estée Lauder, says this is make-up’s moment in India as, “Tier 2 and Tier 3 cities has an emerging middle class population that is uptrading to luxury.” For Estée Lauder, the world’s second-largest cosmetics company after L’Oreal, India is a focus market because it is at an inflexion point. Many of the world’s leading luxury beauty brands have gone easy on India because it was never considered to be a market as big as China. The pandemic has proved many of these brands wrong, as Indians are not shying away from spending upwards of a few hundred dollars on luxury skincare and make-up. For long, luxury was perceived to be the preserve of only the well heeled in the mega metros, but the pandemic has turned this thesis on its head. Today, not only are the elite from India’s small towns buying luxury skincare but also deploying private jets to ship their favourite macaroons and cakes from French patisseries for their soirees. This is a much underrated trend and few understand the rising power of India’s hinterland. Estée Lauder has not only been aware but has actively cultivated this market through its omnichannel strategy. Over the next few years, Shukla says, she won’t be surprised if the sales are equally split between metros and Tier 2 &amp; 3 towns. Estée Lauder was the first to partner and launch on Nykaa and now Reliance Retail’s Tira. This online presence helped the company accelerate sales during the pandemic. Estée Lauder has also spruced up its own online presence with its store that helps service customers online in the same way that they cater to them at the physical stores. With the lockdowns becoming history, Estée Lauder is now focused on massive scaling up of its brick-and-mortar presence through partnerships with Sephora and Shoppers Stop. Estée Lauder has been in India for a decade and has worked consistently to become the largest luxury beauty brand in India. While its portfolio of brands and offerings across skincare, make-up and fragrances is a big draw, it has also been proactive in improving reach and distribution. It was the first to tie up with Nykaa to improve the reach of its products beyond the mega metros. Given that it is a triaxis beauty brand, it has a product for every reason and every season almost. A lot of its competitors have used their global strategy in India, which has not really worked as India is a unique market. Shukla says: “We have adapted to India and understood what customers want. We have specifically been able to serve the market and consumers with what they wanted.” To crack the India market, Estée Lauder Companies has adopted a three-pronged strategy. It has identified and promoted its hero products for starters. The company has picked up its iconic products and gone to market with its benefits that the Indian consumer could relate to. Estée Lauder has also taken the omnichannel route to improve reach of its products across India – it was the first luxury brand to partner with Nykaa and now Tira for online sales. After the pandemic, of course, it also caters to customers on its own website. Estée Lauder has attempted to replicate the store experience online too with beauty assistants and virtual trials to help consumers arrive at a decision. There was a perception that luxury could not be purchased online but the pandemic has shattered that myth. Estée Lauder has broken ranks with rivals in India in terms of its go-to-market strategy not just when it comes to product positioning and retailing, it is also the first luxury brand to appoint an Indian as its ambassador. Bollywood star and Miss World 2017, Manushi Chhillar, is now the Global Brand Ambassador for Estée Lauder. Chhillar joins the current roster of Estée Lauder global talent including Imaan Hammam, Adut Akech, Ana de Armas, Amanda Gorman, Bianca Brandolini D’Adda, Carolyn Murphy, Grace Elizabeth, Karlie Kloss, Kōki and Yang Mi. So far, Estée Lauder has had Indian faces endorse their products in India but this is the first time an Indian will join ranks with its other global ambassadors. Explains Chhillar, “Estée Lauder is an iconic brand founded by a visionary woman, Mrs Estée Lauder, who proved anything was possible with hard work, passion, and dedication. Like her, I hope to be a role model for women around the world, inspiring them to believe in themselves and their ability to impact positive change.” SEE ALSO: <a href="https://www.businessinsider.in/business/news/-food-delivery-real-estate-travel-high-fashion-apps-looking-healthy-user-metrics-in-march-2023/articleshow/99778417.cms">Consumers continue to throng apps in search of Roti, Kapda &amp; Makaan, March sees healthy user metrics and app downloads</a> <a href="https://www.businessinsider.in/stock-market/markets/news/-some-sectors-will-benefit-from-lower-energy-prices-in-fy24-a-balasubramanian/articleshow/99722850.cms">Earnings to remain volatile in FY24, but some sectors will benefit from lower energy prices, says Aditya Birla Sun Life MF’s CEO A Balasubramanian</a> <a href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a>

Beauty & The Best: Luxury cosmetics behemoth Estée Lauder hunkers down on India as its sales double in 2 years

A multisystem inflammatory syndrome is emerging in children (<keyword id="9491275" type="General" weightage="80" keywordseo="mis-c" source="Orion">MIS-C</keyword>) after recovery from <keyword id="8764262" type="General" weightage="100" keywordseo="covid" source="Orion">Covid</keyword> in <keyword id="6357713" type="General" weightage="20" keywordseo="Uttar-Pradesh" source="Orion">Uttar Pradesh</keyword>. The residual effect of the virus is posing a challenge with rising MIS-C cases. According to medical experts, MIS-C is a serious condition in which organs such as heart, lungs, kidneys, brain, skin, eyes or gastrointestinal organs get inflamed leading to malfunction. It can happen due to several reasons, but at present, most cases are associated with Covid. It has been seen that antibodies created in children and teenagers during Covid continue to operate even after recovery. At times, these antibodies go out of control and start attacking healthy cells of the organs which results in inflammation. About 50 cases of MIS-C, including five from Lucknow, have been reported in the past three months in the state capital. The patients were mainly aged between four and 18 years and had recovered from Covid but developed MIS-C a month after recovery. King George's Medical University (KGMU) has received 30 such cases from across the state, including five from Lucknow, while 20 patients from eastern Uttar Pradesh have been reported at <keyword id="1550128" type="General" weightage="20" keywordseo="ram-manohar-lohia-institute-of-medical-sciences" source="Orion">Ram Manohar Lohia Institute of Medical Sciences</keyword> (RMLIMS). Some of these patients also died due to multiple organ failure, but data has not been maintained because it is not a "notifiable disease". Medical superintendent at KGMU, Prof D. Himanshu, said that although the exact reason behind this is not yet known, initial findings suggest that it happens when the immune system goes haywire and starts damaging healthy cells. If not addressed in time, it can lead to multi-organ failure. Common symptoms of such patients are fever for three to five days, severe abdominal pain, bloodshot eyes, skin rashes, sudden drop in blood pressure and loose motions, he added. Paediatric surgery head and medical superintendent of Covid hospital at RMLIMS, Prof Srikesh Singh, said that emergency symptoms of the disease include amnesia, loss of alertness, disorientation, unusual or strange behaviour and disruptions in perception, breathing trouble and persistent pain or pressure in the chest, besides change in colour of skin, lips or nails to grey or blue. "Any of these symptoms should be taken seriously and patients should be rushed to hospital," he said. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-oxygenos-12-update-release-date-eligible-devices-features-and-everything-you-need-to-know/articleshow/86772704.cms">OnePlus’ OxygenOS 12 update – release date, eligible devices, features and everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-instagram-and-facebook-are-down/articleshow/86759457.cms">Facebook shareholders lost nearly $50 billion in the 9 hours that the social network, WhatsApp and Instagram were down</a> <a href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-allotment-is-tomorrow/articleshow/86761851.cms">Aditya Birla Sun Life AMC IPO allotment starts tomorrow, IPO was subscribed 5.25 times</a>

Post-Covid multisystem inflammatory syndrome emerging in children in Uttar Pradesh

Here is a list of bank holidays in October 2021

<ul><li>The Indian government is planning to remove caps on <keyword id="48448" type="General" weightage="20" keywordseo="airfare" source="Orion">airfare</keyword> and capacity on domestic flights, says outgoing aviation secretary Pradeep Kharola.</li><li>Last year in May, India had imposed a lower and upper cap of airfares based on the flight duration. </li><li>The ministry had also introduced a cap on the capacity of domestic flights last year amid rising COVID-19 cases. </li><li>This ensured that the COVID-19 safety norms like social distancing was complied with and air tickets were not out of budget for passengers.</li></ul>India’s Ministry of Civil Aviation is looking to remove caps on airfare and capacity on domestic flights, but it may be like walking a “tightrope” as both industry interests and passenger safety have to be taken into consideration, outgoing aviation secretary Pradeep Kharola said in a media interaction. "Some <keyword id="44023" type="General" weightage="20" keywordseo="airlines" source="Orion">airlines</keyword> say we should open up, some airlines say we should be cautious. It’s not that everyone is unanimous on this. That’s where the government comes in,” Kharola added, in an <a href="https://www.indiatoday.in/business/story/aviation-secretary-pradeep-kharola-interview-drone-taxi-airfare-cap-air-india-sale-1858292-2021-09-28?utm_source=washare&amp;utm_medium=socialicons&amp;utm_campaign=shareurltracking">interaction</a> with India Today. The ministry had introduced a cap on the capacity of domestic flights last year amid rising COVID-19 cases. India also imposed a lower and upper cap of airfare based on the flight duration. This ensured that the COVID-19 safety norms like social distancing was complied with and the air tickets were not out of budget for passengers. Domestic flights were allowed to operate from May 25 last year, after a two-month-long break during the COVID-19 lockdown. The carriers were allowed to operate not more than 33% of their pre-COVID domestic services. The capacity cap has gradually increased to 85% this month. The ministry has also tweaked the price cap formula, allowing airlines to set fares for travel beyond fifteen days. Up till then, price caps were applicable on tickets up to 30 days from the booking date. “Fare band, they do continue but in the last version we had made a significant change… The fare bands used to be applicable to 30 days from today, but now we have come down to 15 days. Gradually, if you go on decreasing this — from 14 days, 13 days, 12 days — a day would come where fare bands would not be applicable. The process has started, but it will be a gradual one, where the fare bands will be replaced to the normal system of operation,” he said. The Indian government made those changes to allow airlines to operate more flights ahead of the festive season, starting from October 2021. The Indian aviation industry has been pushing the Indian government and the ministry of civil aviation to do away with the caps for several months now. The industry believes that caps like these impact the competitiveness and only benefit the low-cost carriers. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/oyo-blames-zo-rooms-for-forum-hunting-after-zostels-latest-plea-to-stop-its-ipo/articleshow/86605631.cms" data-type="tilCustomLink">OYO blames Zo Rooms for ‘forum hunting’ after Zostel’s latest plea to stop its IPO</a> <a href="https://www.businessinsider.in/stock-market/news/indigo-spicejet-hdfc-amc-future-group-and-other-top-stocks-to-watch-out-for-on-september-29/slidelist/86600892.cms">IndiGo, SpiceJet, HDFC AMC, Future Group and other top stocks to watch out for on September 29</a> <a href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-opens-today-and-analysts-bullish-on-the-growing-mutual-fund-industry/articleshow/86590770.cms">Aditya Birla Sun Life AMC IPO opens today, analysts bet high on the growing mutual fund industry</a>

Some domestic flight tickets may get expensive soon, as government mulls removal of airfare cap

New Delhi, Nov 21 () Kerala-based lender CSB Bank on Thursday raised Rs 184 crore from anchor investors, ahead of its initial share sale commencing on Friday.
CSB Bank, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the initial public offer.
According to a regulatory filing, CSB Bank has finalised the allocation of 94,54,080 shares at Rs 195 apiece to 24 anchor investors, including five mutual funds. Based on the price, the total proceeds would be little over Rs 184 crore.
Omers Administration Corporation OAC Custody Account (SCV6), ICICI Prudential MF, SBI MF, Aditya Birla Sun Life Trustee, Axis MF, Sundaram MF, HSBC and Ashoka India Opportunities Fund are among the anchor investors.
The shares are being sold to anchor investors at the upper end of the IPO price band of Rs 195 apiece.
CSB Bank's offer involves a fresh issue of shares to raise up to Rs 24 crore and an Offer For Sale of 1.97 crore scrips by existing investors. The latter would be worth around Rs 385 crore.
The share sale would be open from November 22 to 26.
On November 19, the bank's Managing Director and Chief Executive C V R Rajendran said its promoter entity Fairfax India Holdings Corporation's stake would go down to 49.73 per cent from 50.09 per cent.
The promoter entity, which acquired 51 per cent in the bank in February, has five years to reduce holding to 40 per cent and 15 years to go down to 15 per cent in compliance with the RBI requirements.
As part of the same requirements, it had to list by September 2019 and some procedural aspects resulted in a marginal delay, he had said. RAM BAL

CSB Bank mops up Rs 184 cr from anchor investors

<ul><li>Pandora Papers reveals 12 million documents and files exposing the “secret wealth” and dealing of world leaders, politicians and public figures.</li><li>A “compliance report” of Singapore-based watchdog AsiaCiti Trust had flagged <keyword id="12260245" type="General" weightage="20" keywordseo="kirill-androsov" source="Orion">Kirill Androsov</keyword>’s Lang Capital Fund (LFC) as a PEP, which has a higher risk of indulging in bribery or corruption.</li><li><keyword id="2698623" type="General" weightage="20" keywordseo="healthifyme" source="Orion">HealthifyMe</keyword> noted LCF was a publicly listed trust at the time of their investment and they were not aware of the PEP links.</li></ul>Indian fitness and health platform HealthifyMe’s name has surfaced in the Pandora Papers, which is a leak that reveals 12 million documents and files exposing the “secret wealth” and dealing of world leaders, politicians and public figures. Names of several prominent Indians — including cricketing legend<a href="https://www.businessinsider.in/india/news/anil-ambani-sachin-tendulkar-kiran-shaw-and-other-indians-named-in-the-pandora-papers-leak/articleshow/86745435.cms"> Sachin Tendulkar, businessman Nirav Modi, Biocon’s Kiran Mazumdar Shaw </a>and Reliance Communication’s Anil Ambani — have surfaced in Pandora papers as well. Now the name of HealthifyMe’s Singapore-based parent company HealthifyMe Pte Ltd appears in connection with Lang Capital Fund (LFC) owned by Kirill Androsov, businessman and a former aide of Russian President Vladimir Putin. A “compliance report” of Singapore-based watchdog AsiaCiti Trust, dated February 27 of 2018, mentions that at least four transactions made by Androsov’s LFC fund were marked as “high risk” due to their “PEP [Politically exposed Person]-related structure”. AsiaCiti has filed a similar <a href="https://www.theguardian.com/news/2021/oct/03/offshore-provider-accused-of-failing-to-follow-money-laundering-rules">report </a>in October 2014 as well, which named LFC. PEP adds an additional risk exposure for involvement in money laundering, bribery or corruption due to holding/having connections with high profile political roles or who has been entrusted with a prominent public function. A PEP status does not signify criminal behaviour. HealthifyMe claims that they were not aware of LFC’s PEP risk and connection with Putin. "At the time of taking investment from LCF — LCF was a publicly listed trust on the SGX [Singapore Exchange] and therefore was not wholly owned by any PEP. Singapore KYC requirements allowed HealthifyMe to take capital from any publicly listed trust without further investigation," the company said in a <a href="https://medium.com/@healthifyme/statement-from-healthifyme-35335d3cc88c" data-type="tilCustomLink">blogpost</a>, adding that LFC owns only 2% stake in the company. The Indian Express <a href="https://indianexpress.com/article/express-exclusive/pandora-papers-tushar-vashisht-healthifyme-7554466/" data-type="tilCustomLink">report</a> further reveals:<ul><li>HealthifyMe Pte Ltd (founded in 2015) set up an Indian entity HealthifyMe Wellness Private Limited (HRPL) in 2018.</li><li>As of March 2020, HealthifyMe’s founder <keyword id="2840907" type="General" weightage="20" keywordseo="tushar-vashisht" source="Orion">Tushar Vashisht</keyword> held 10 shares in HealthifyMe Wellness Private Limited (HWPL).HealthifyMe Pte Ltd held 2,43,318 shares. They are the only shareholders.</li><li>The LCF transaction under question included a payment that was made “for the subscription of 122,066 Series B2 Compulsorily Convertible and Non-Cumulative Preference Shares in HealthifyMe’s Singapore-based entity.</li><li>The company did not reveal the shareholding and directorship patterns to the directors of HealthifyMe Wellness Products and Services Private Limited between FY2015-2018.</li></ul>“Certain media reports on Pandora Papers have falsely claimed HealthifyMe Cofounder &amp; CEO Tushar Vashisht owning shell companies or Singapore hold-cos with connections to Politically Exposed Persons. We wish to clarify that these stories are inaccurate and have grossly misrepresented the facts,” a HealthifyMe Spokesperson told Business Insider. The company also noted that Vashisht is a minority shareholder in HealthifyMe Pte India, which counts Khosla Ventures, Leapfrog, Inventus, Chirata Ventures as shareholders. HealthifyMe’s co-founder claims to have no direct or indirect shareholdings in Lang Capital Fund, AsiaCiti Trust or Atlas Asset Management or other such companies mentioned in the article. HealthifyMe also told Business Insider that Vashisht was the sole director in HealthifyMe Wellness Products and Services Private Limited and the filings about directorships/shareholdings were never made. “Lang Capital Fund specifically has a 2% investment/shareholding in HealthifyMe Pte Ltd. It was an investment accepted by the company after following all applicable laws and KYC as a part of its Series B fundraise in 2018,” the company added. <div type="ExtQuote" text="&quot;Certain media outlets have created a false narrative. HealthifyMe, myself or my family are not in any pandora papers and neither do we have any connections with PEPs - we definitely do not know Putin or anyone linked to him! HealthifyMe is owned by some of the top VCs in the world. One of our minority investors (LCF) holding 2% of our parent company seems to be under question for PEP risk. That investor was a Publicly Listed Company in SGX when our board sanctioned their investment following all KYC norms in 2018. This is a case of unfortunate sensationalist reporting where focus on the real story has been shifted to a misleading startup victimization.&quot;" auname="Tushar Vashisht, cofounder and CEO of HealthifyMe, told Business Insider"></div> SEE ALSO <a href="https://www.businessinsider.in/cryptocurrency/news/justice-department-announces-cryptocurrency-enforcement-team-to-tackle-money-laundering-and-ransomware-attacks/articleshow/86827485.cms" data-type="tilCustomLink">Justice Department announces 'Cryptocurrency Enforcement Team' to tackle money laundering and ransomware attacks</a> <a href="https://www.businessinsider.in/stock-market/news/aditya-birla-sun-life-amc-ipo-how-to-check-for-your-refund-if-you-have-not-received-the-allotment/articleshow/86817773.cms" data-type="tilCustomLink">Aditya Birla Sun Life AMC IPO: How to check for your refund if you have not received the allotment</a> <a href="https://www.businessinsider.in/retail/news/the-ex-ceo-of-pepsi-said-asking-for-a-raise-is-cringeworthy/articleshow/86825324.cms" data-type="tilCustomLink">The ex-CEO of Pepsi said asking for a raise is 'cringeworthy'</a>

HealthifyMe’s name surfaces in connection with Pandora Papers for having links with Putin’s former aide

<ul><li>Only 40% of the stocks have regained the levels before the pre-budget sell-off, an expert said.</li><li>The coronavirus epidemic has dent sentiment in global markets but there are other reasons keeping stocks depressed.</li><li>About 49 stocks hit a 52-week low in trade today ranging from travel operators to infrastructure companies to milk manufacturers. </li></ul>The <a href="https://www.businessinsider.in/stock-market/news/stock-markets-slip-further-into-the-red-ahead-of-a-budget-session/articleshow/73828435.cms" data-type="tilCustomLink" target="_blank">sell-off in Indian stock markets</a> post Finance Minister Nirmala Sitharaman’s latest budget took the Sensex down to 39,735. Since then, it has recovered a net of over 2,000 points (over 5%) in five trading days. In fact, the government cheered the recovery in the market as a vote of confidence from investors for the budget that has, at best, evoked mixed reactions across the board. The <a href="https://www.businessinsider.in/indias-central-bank-keeps-interest-rates-unchanged/articleshow/73977234.cms?upcache=2" data-type="tilCustomLink" target="_blank">Reserve Bank of India</a> (RBI) too, fuelled some of the rally with some big announcements aimed at reviving specific sectors. <div type="image" title="Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das during the RBI&amp;#39;s si..." msid="74059293" hostid="261" caption="&amp;lt;p&amp;gt;Reserve Bank of India (RBI) Governor Shaktikanta Das during the RBI&amp;#39;s sixth bi-monthly monetary policy review meeting of 2019-20. The central bank offered some sops to sectors like real estate, &amp;lt;a href=&amp;quot;https://www.businessinsider.in/indias-central-bank-keeps-interest-rates-unchanged/articleshow/73977234.cms?upcache=2&amp;quot; target=&amp;quot;_blank&amp;quot;&amp;gt;something that the budget did not&amp;lt;/a&amp;gt;. Photo/Mitesh Bhuvad)(&amp;lt;/p&amp;gt;"></div>

 The sell-off on Friday and Monday has been attributed to <a href="https://in.reuters.com/article/india-stocks/sensex-nifty-fall-as-china-epidemic-toll-weighs-on-metals-idINKBN2040C1" data-type="tilCustomLink" target="_blank">the outbreak of coronavirus</a>, whose death toll has surpassed that of SARS. But that may not be all the reasons. Digging deeper into the data, an expert concluded that only 40% of the stocks have regained the levels they were at before the budget-day sell-off. This, despite the fact that the coronavirus epidemic has led to fears of fall in demand for crude oil that has, in turn, brough forecasts for Brent Crude down to as low as $47 a barrel. In January alone, global crude oil prices fell by about 15%, according to HDFC Securities. The <a href="https://www.businessinsider.in/stock-market/markets/news/double-whammy-for-indian-share-market-exchanges-increase-margin-money-needed-for-intra-day-trade/articleshow/73078404.cms" data-type="tilCustomLink" target="_blank">fall in oil prices</a> should have ideally propped up the Indian market but last week’s rally in Sensex fizzled out on Monday (February 10). <div type="image" title="FILE PHOTO: Crude oil tankers are docked at Isla Oil Refinery PDVSA terminal in Willemstad on the island of Curacao" msid="74059337" hostid="261" caption="&amp;lt;p&amp;gt;Crude oil tankers are docked at Isla Oil Refinery PDVSA terminal in Willemstad on the island of Curacao, February 22, 2019. Fall in crude oil prices are good for a net importing country like India. REUTERS/Henry Romero/File Photo&amp;lt;/p&amp;gt;"></div>

 The Monday crack on Dalal Street (home to the Bombay Stock Exchange) would have been obvious to those watching the futures and options data. “The open interest (OI) activity all the while, when Nifty was rising, did not seem to have agreed with the argument of everything is fine, unlike the price action,” Shubham Agarwal, CEO &amp; Head of Research at Quantsapp Private Limited, <a href="https://www.moneycontrol.com/news/business/technicals/nifty-unlikely-to-run-away-from-here-deploy-bear-put-spread-to-hedge-positions-4922981.html" data-type="tilCustomLink" target="_blank">wrote in moneycontrol.com</a>. What is open interest? The number of contracts outstanding in futures and options trading on an official exchange at any one time. These contracts can be ‘long’ (where the trader is betting the stock/index will rise in the days to come) or they be ‘short’ (where the trader is positioned for a fall in the stock or index). For instance, today (Feb 10) at 11:42 pm, the price of Nifty 12,000 Put had nearly doubled since last close with a rise in open interest. This would indicate that more people had bet on Nifty falling to that level and it did. The Nifty was trading at 12,007, down three-fourths of a percent for the day. This concentration on Nifty 12,000 Put also means that the index may bounce back from that level. However, Agarwal ruled out a runaway rally. There are others who agree. “Nifty50 has decisively broken the trendline and the correction seems to be deepening. The steep fall is expected to have sharp bounces in the near term,” <a href="https://economictimes.indiatimes.com/markets/stocks/news/with-major-events-out-of-the-way-markets-will-now-find-its-own-level/articleshow/74022292.cms" data-type="tilCustomLink" target="_blank">Jimeet Modi, CEO, Samco Securities &amp; StockNote wrote recently</a>. Making matters worse, Indian stocks are already 40% more expensive than their peers in Asia, according to an HDFC Securities report dated February 4. “Overall, for the week, Nifty could range between 11,930 and 12,250,” said a report from Aditya Birla Money today. <div type="image" title="A man walks past a screen displaying the new logo of the National Stock Exchange inside its building in Mumbai" msid="74059401" hostid="261" caption="&amp;lt;p&amp;gt;A man walks past a screen displaying the new logo of the National Stock Exchange (NSE) inside its building in Mumbai, August 16, 2018. REUTERS/Francis Mascarenhas/Files&amp;lt;/p&amp;gt;"></div>

 Where is the big foreign money flowing into? Foreign portfolio investors (FPI) put in ₹6,350 crore in Indian debt between February 3 and February 7 but pulled out ₹1,172.56 crore from equities. That would again indicate that foreign investors are not very keen on Indian equities. Around 49 stocks fell to touch their 52-week lows on the National Stock Exchange on Monday— from tourism operators to infrastructure companies to milk manufacturers— the sell-off is broad based. Some of the <a href="https://economictimes.indiatimes.com/markets/stocks/news/stock-market-update-__-stocks-hit-52-week-lows-on-nse/articleshow/74057268.cms" data-type="tilCustomLink" target="_blank">stocks that hit a 52-week low</a> today: <ol><li>Thomas Cook </li><li>Vardhman Holdings </li><li>Bharat Heavy Electricals. </li><li>Birla Tyres </li><li>Gayatri Projects </li><li>Himatsingka Seide </li><li>Jayant Agro Organics </li><li>Parag Milk Foods </li></ol>While the benchmark index was rising as people bought into some major stocks, more traders were betting the overall trend is likely to be down. “In the near-term markets may gravitate back towards large-cap quality and defensive stocks and we may see more of polarisation with a few mid and smallcaps also participating,” HDFC Securities said last week. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/for-lic-ipo-to-succeed-the-life-insurance-giant-has-to-dump-a-lot-of-sick-stocks/articleshow/73889676.cms" data-type="tilCustomLink" target="_blank">For LIC IPO to succeed, the life insurance giant has to dump a lot of sick stocks</a> <a href="https://www.businessinsider.in/stock-market/news/2019-fpi-inflow-data-insurance-and-tech-stocks/articleshow/72741166.cms" data-type="tilCustomLink" target="_blank">The amount of Indian insurance stocks foreign investors hold has grown ten-fold in just about a year</a> <a href="https://www.businessinsider.in/business/telecom/news/billionaire-sunil-mittal-net-worth-and-airtel-q3-earnings-report/articleshow/73932668.cms" data-type="tilCustomLink" target="_blank">Billionaire Sunil Mittal got wealthier while Airtel lost a million users every 3 months for a year⁠— here’s why</a>

You Searched For "aditya birla mf ipo dates" and got 15 results

The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too

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OYO blames Zo Rooms for ‘forum hunting’ after Zostel’s latest plea to stop its IPO

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OYO may file for a $1 billion IPO next week

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CAMS IPO subscribed 82% on day one itself — CEO shares the 30-year journey to an IPO

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CarTrade raises ₹900 crore from anchor investors ahead of its IPO, issue opens on Monday

PTI

Amazon to kick off month-long Great Indian Festival sale from October 4 onwards

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Corporate India's deal activity jumps 58% to $3.1 billion in July: Report

PTI

Consumers continue to throng apps in search of Roti, Kapda & Makaan, March sees healthy user metrics and app downloads

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Beauty & The Best: Luxury cosmetics behemoth Estée Lauder hunkers down on India as its sales double in 2 years

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Post-Covid multisystem inflammatory syndrome emerging in children in Uttar Pradesh

IANS

Here is a list of bank holidays in October 2021

BI India Bureau

Some domestic flight tickets may get expensive soon, as government mulls removal of airfare cap

Kritti Bhalla

CSB Bank mops up Rs 184 cr from anchor investors

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HealthifyMe’s name surfaces in connection with Pandora Papers for having links with Putin’s former aide

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Coronavirus and beyond— reasons why this is not ideal time to buy stocks in India, according to experts, money managers, and researchers

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