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<ul><li>The IPO of Bikaji Foods International was subscribed 0.67 times on the first day of bidding on November 3.</li><li>The IPO received tepid response from retail and qualified institutional investors.</li><li>The grey market is indicating a premium of over ₹75 per share.</li></ul>FMCG company Bikaji Foods International opened its initial public offering (IPO) today on November 3 and will close on November 7. The price band of the IPO is set at ₹285-300 a share. On the first day, the issue was subscribed by 0.67 times. The IPO has received bids for 1.38 crore equity shares as against 2.06 crore equity shares on offer. However, the retail portion of the IPO was fully booked. <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 </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 buyers </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;">0.01 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;">Non-institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.58 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;">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 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;">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;">0.67 times </td></tr></tbody></table> The company <a href="https://www.businessinsider.in/stock-market/news/bikaji-foods-raises-262-crore-form-anchor-investors-over-40-shares-bought-by-mutual-funds/articleshow/95271312.cms">raised ₹262 crore from anchor investor</a>s to which mutual fund companies secured the biggest pie of the anchor book. About 42.16% of the total anchor book size was allocated to 10 mutual funds through 17 schemes amounting to ₹110.51 crore. The shares of the company are currently commanding a grey market premium, or GMP, of ₹75 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortments), frozen food, mathri range and cookies. Analysts had recommended subscribing to the IPO on a strong revenue growth trajectory in the last three years. “The company has a strong management team and a significant percentage of promoter holdings. It generated strong revenue growth in the last 3 years where revenue improved from ₹1,082.9 crore in FY20 to ₹1621.45 crore in FY22. However, the company's margins are on the declining side and a P/E valuation of 95.2 looks expensive,” said a report by broking firm Swastika Investmart. The brokerage firm gave a ‘subscribe’ recommendation, but only for high-risk investors. The FMCG brand has a strong presence in North and Eastern Indian markets with a wide range of ethnic snacks and namkeens. It is the market leader in the branded Bikaneri bhujia market. Lately, players such as Prataap Snacks, DFM foods, Pepsi and ITC have forayed into ethnic namkeen and snacks market. “Company has an extensive distribution network in India with strategic arrangements with retail chains in India and international markets. Company’s growing e-commerce channel with significant multi-product export sales and consistent financial performance makes it attractive issue to deploy the funds in. Hence, we recommend Subscribe on the issue,” said a report by Hem Securities. Bikaji Foods International is the third largest player in the branded Indian ethnic snack industry with 9% market share after Haldiram and Balaji. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/dilwali-week-cash-circulation-declines-for-the-first-time-in-20-years-sbi-ecowrap/articleshow/95280473.cms">Diwali week cash circulation declines for the first time in 20 years: SBI Ecowrap</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hdfc-reports-18-year-on-year-rise-in-q2-net-profit-to-4454-crore/articleshow/95279744.cms">HDFC reports 18% year-on-year rise in Q2 net profit to ₹4,454 crore</a>

Bikaji Foods International IPO subscribed 67% on the first day

<ul><li>The FMCG brand Bikaji Foods is likely to announce its share allotment status today.</li><li>Overall, the IPO saw strong demand from investors amidst volatile market conditions, being subscribed 26.67 times.</li><li>The shares will be listed on November 16 on the exchanges.</li></ul>FMCG company Bikaji Foods International is likely to announce the allotment status of its initial public offering (IPO) on Friday. Overall, the IPO saw strong demand from investors amidst volatile market conditions, being subscribed 26.67 times. The qualified institutional buyer portion was subscribed 80.63 times. The portion reserved for non-institutional investors witnessed a subscription of 7.10 times. Retail portion saw poor demand as it had a subscription of just 4.77 times. The grey market premium (GMP) for the company’s shares, however, were at ₹35. The company will not receive any funds from the ₹881 crore IPO as it is a complete offer for sale by promoters and shareholders. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortments), frozen food, mathri range and cookies. Here is how to check <keyword id="15421798" type="General" weightage="20" keywordseo="Bikaji-Foods-IPO-allotment" source="Orion">Bikaji Foods IPO allotment</keyword> status on the stock exchange websites: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Bikaji Foods’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Bikaji Foods’.</li><li>Once the company is selected, you will have to enter either your PAN details, the application number, or the client ID.</li><li>Enter the captcha code and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/five-star-business-finance-ipo-subscribed-32-on-day-2/articleshow/95431378.cms">Five Star Business Finance IPO subscribed 32% on day 2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/archean-chemical-industries-ipo-subscribed-1-43-times-on-day-2/articleshow/95431087.cms">Archean Chemical Industries IPO subscribed 1.43 times on day 2</a>

Bikaji Foods IPO: Here’s how you can check the allotment status

<ul><li>FMCG company Bikaji Foods International is planning to raise ₹881 crore via a public offer.</li><li>The IPO is open for subscription from today, November 3, and will conclude on November 7.</li><li>The price band of the issue is fixed at ₹285-₹300 per share.</li></ul>FMCG company Bikaji Foods International raised ₹262 crore from anchor investors, the company said on Thursday. It has allocated 87.37 lakh shares to 36 anchor investors at the upper price band of ₹300 per share. The mutual fund industry got a huge pie of the shares reserved for anchor investors – 42.16% of the total anchor book size was allocated to 10 mutual funds through 17 schemes amounting to ₹110.51 crore. Tata Mutual Fund, Aditya Birla Sun Life, Canara Robeco, ICICI Prudential MF, WhiteOak Capital, Nippon Life India, Kotak MF, Quant MF, HDFC MF and Edelweiss MF were the mutual funds that were allocated shares in the company. These were followed by foreign portfolio investors including Eastspring Investments, Morgan Stanley, Government of Singapore, Nomura, Blackrock, Neuberger Berman, Carmignac, Goldman Sachs, Bay Capital and Kotak Funds. Anchor investors are marquee institutional investors who are allotted shares in an IPO before the issue opens to the public. As the name suggests, they ‘anchor’ the IPO issue by agreeing to subscribe to shares at a fixed price, thereby indicating a healthy demand for the soon-to-be listed shares. The Bikaji Foods International IPO is a complete offer-for-sale by promoters and shareholders and intends to raise ₹881 crore. The price band is fixed at ₹285-₹300 per share. Shares of the company are currently commanding a grey market premium (GMP) of ₹75 per share. Grey market premium is a premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchange. Bikaji Foods International is the third largest player in the Indian branded snack industry with 9% market share after Haldiram and Balaji. In FY22, Bikaji Foods International’s profit came down by 15.6% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation. Meanwhile its revenue rose to ₹1,610 crore in FY22 from ₹1,310 crore a year earlier. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Bikaji Foods 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;">Revenue </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;">Profit </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;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,610 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹76 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;">FY21 </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;">₹1,310 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90 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;">FY20 </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;">₹1,074 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹56 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;">FY19 </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;">₹901 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹50 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Its profits are also being impacted by a number of factors, including product pricing, raw materials, labour, packaging and fuel costs. Unplanned investment in infrastructure and marketing activities could impact its profit and operating margin, the company said. Bikaji Foods International has seven manufacturing facilities across Rajasthan, Assam, Karnataka and Bihar. The company exports products to 35 countries in North America, Europe, the Middle East, Africa, and Asia Pacific. Here are some of the important details of the IPO: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹285-₹300 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 7 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 14 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 15 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 16 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">50 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-trade-flat-despite-us-feds-75-bps-rate-hike/articleshow/95269969.cms">Indian markets trade flat despite US Fed’s 75-bps rate hike</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bikaji-foods-881-crore-ipo-opens-today/articleshow/95263632.cms">Bikaji Foods’ ₹881 crore IPO opens today</a>

Bikaji Foods raises ₹262 crore form anchor investors; over 40% shares bought by mutual funds

<ul><li>The FMCG brand has a strong presence in North and Eastern Indian markets with a wide range of ethnic snacks and namkeens.</li><li>The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders.</li><li>The price band of the IPO is set at ₹285-300 a share.</li><li>In FY22, Bikaji Foods’ profit came down by 15.5% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation.</li><li>The grey market premium (GMP) of the company’s shares are at ₹75 per share.</li></ul>FMCG company Bikaji Foods International, is all set to open its ₹881 crore initial public offering (IPO) on November 3 and close on November 7. The price band of the IPO is set at ₹285-300 a share. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortments), frozen food, mathri range and cookies. The FMCG brand has a strong presence in North and Eastern Indian markets with a wide range of ethnic snacks and namkeens. It is the market leader in the branded Bikaneri bhujia market. Lately, players such as Prataap Snacks, DFM foods, Pepsi and ITC have forayed into ethnic namkeen and snacks market. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. The grey market premium (GMP) of the company’s shares are at ₹75 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The promoters will be selling around 2% of their stake taking their post-IPO shareholding to 76%. Other shareholders who are selling include -- India 2020 Maharaja (12 million shares), IIFL Special Opportunities Fund (11 million shares), Avendus Future Leaders Fund I (1.2 million shares) and Intensive Softshare (0.1 million shares). Some key competitors of the FMCG brand include Haldiram Foods International, Bikanerwala, Prataap Snacks, Balaji Wafers Private, ITC, Pepsico India Holdings and DFM Foods. Bikaji Foods International is the third largest player in the Indian branded snack industry with 9% market share after Haldiram and Balaji. <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;">Indian ethnic snacks segment </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;">Market share </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;">Haldiram </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.5% </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;">Balaji </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;">9.6% </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;">Bikaji </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;">9% </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;">Bikanervala </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% </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;">PepsiCo </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% </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;">Haldiram (Prabhuji) </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;">1.8% </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;">Prataap Snacks </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;">1.5% </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;">DFM Foods </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;">0.9% </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;">Others </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;">29% </td></tr></tbody></table>The company has 25 legal proceedings against it and any adverse decision in such proceedings may have a material adverse effect on business, financial condition, cash flows and results of operations, states RHP. In FY22, Bikaji Foods’ profit came down by 15.5% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation. Meanwhile its revenue rose to ₹1,610 crore in FY22 from ₹1,310 crore from the previous year. Its profits are also being impacted by a number of factors, including product pricing, raw materials, labour, packaging and fuel costs. Unplanned investment in infrastructure, marketing activities could impact its profit and operating margin, the company said. Bikaji Foods has seven manufacturing facilities in Rajasthan, Assam, Karnataka and Bihar. yThe company exports products to 35 countries in North America, Europe, Middle East, Africa, and Asia Pacific. <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;">Bikaji Foods </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;">Revenue </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;">Profit </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;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,610 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹76 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;">FY21 </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;">₹1,310 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90 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;">FY20 </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;">₹1,074 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹56 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;">FY19 </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;">₹901 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹50 crore </td></tr></tbody></table>The company’s established market is in Rajasthan, Assam and Bihar with market share of approximately 45%, 58% and 29% respectively in the branded ethnic snack category in such states. It has also gradually expanded its footprint across India, with operations across 23 states and four union territories. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/markets-snap-4-session-winning-streak-ahead-of-fed-outcome-fmcg-retail-and-telecom-decline/articleshow/95258829.cms">Markets snap 4-session winning streak ahead of Fed outcome – FMCG, retail and telecom decline</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/cyberattacks-hold-potentially-significant-impact-on-countries-credit-ratings-fitch-report/articleshow/95259377.cms">Cyberattacks hold ‘potentially significant impact’ on countries’ credit ratings: Fitch Report</a>

Bikaji Foods’ ₹881 crore IPO opens today

<ul><li>Shares of Bikaji Foods listed at ₹321.15 against the allotment price of ₹300 per share.</li><li>The IPO was subscribed 26.67 times, with good interest from institutional buyers.</li><li>The market capitalisation of the company stood at ₹8,013 crore.</li></ul>Shares of Bikaji Foods International closed at ₹317.45 on the day of its market debut with nearly 6% gains, on Wednesday. The stock listed at a 7% premium over its allotment price. The stock listed at ₹321.15 moving up ₹21.15 from its allotment price of ₹300 per share. This was slightly lower than the grey market’s expectations, which predicted a gain of ₹25-30 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. The market capitalization of the company stood at ₹8,013 crore, according to BSE. The IPO was subscribed a whopping 26.67 times amidst volatile market conditions. Demand for the IPO was huge amongst qualified institutional investors who subscribed 80.63 times the IPO offer. Meanwhile, the retail portion of the IPO saw a subscription of 4.77 times. Analysts were of the opinion that investors must book listing gains considering falling margins and expensive valuation. “The issue had received a good response from investors on both the institutional as well as retail side, and the current GMP is 30 i.e. ~ 10% over its issue price. Nevertheless, the company's margins are on the declining side and a P/E valuation of 95.2 looks expensive. Therefore, we advise investors to lock in listing gains, and only aggressive investors should consider making a long-term commitment to the company,” said Pravesh Gour, senior technical analyst at Swastika Investmart. So far, 26 IPOs made their stock market debut this year on the BSE mainboard. Most of them gave positive listing gains, except seven issues. Here are the top five IPOs with highest listing gains in 2022. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;" class="redcator-table-advance"></colgroup><tbody><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Companies </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Highest listing gains per share </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Harsha Engineers International </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹155.9 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Dreamfolks Services </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹136.65 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Aether Industries </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹134.75 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">DCX Systems </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹101.80 </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Syrma SGS Technology </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹93.05 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: BSE Competing with Haldirams and Balaji Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as gift packs (assortments), frozen food, mathri range and cookies. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. Bikaji Foods International is the third largest player in the Indian branded ethnic snack industry with 9% market share after Haldiram and Balaji. Some key competitors of the FMCG brand include Haldiram Foods International, Bikanerwala, Prataap Snacks, Balaji Wafers Private, ITC, Pepsico India Holdings and DFM Foods. In FY22, Bikaji Foods’ profit came down by 15.5% to ₹76 crore from ₹90 crore in FY21 due to raw material inflation. Meanwhile, its revenue rose to ₹1,610 crore in FY22 from ₹1,310 crore from the previous year. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 468pt; font-family: Merriweather; table-layout: fixed; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;" class="redcator-table-advance"></colgroup><tbody><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Bikaji Foods </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Revenue </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">Profit </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY22 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹1,610 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹76 crore </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY21 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹1,310 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹90 crore </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY20 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹1,074 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹56 crore </td></tr><tr><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">FY19 </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹901 crore </td><td style="padding: 5pt; border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); font-size: 16px; vertical-align: top; overflow: hidden; overflow-wrap: break-word;">₹50 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: DRHP SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/whenever-small-caps-trade-at-a-discount-to-nifty-they-have-given-outsized-returns-incred-wealth/articleshow/95536784.cms">Whenever small caps trade at a discount to Nifty, they have given outsized returns: InCred Wealth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/archean-chemical-industries-ipo-how-you-can-check-the-allotment-status/articleshow/95533940.cms">Archean Chemical Industries IPO: Here’s how you can check the allotment status</a>

Bikaji Foods lists at a 7% premium in line with grey market expectations

<ul><li>DCX Systems, Global Health, Fusion Micro Finance, and Bikaji Foods International have or will launch their issues this week.</li><li>In 2022, about 22 companies have launched their IPOs raising over ₹44,000 crore compared to 64 IPOs raising over ₹1 lakh crore in 2021.</li><li>After interest rate hikes and other macro concerns like inflation and more, <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">many companies such as </a>Udaan, OYO Rooms and Byjus<a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms"> have either delayed their IPOs </a>or postponed them.</li></ul>At a time when the stock market is on an upswing despite negative cues from global markets, the primary market in India is buzzing too. This week, four companies are launching their initial public offerings (IPOs) to collectively raise over ₹4,600 crore. DCX Systems, a manufacturer of electronic sub-systems and cable harnesses, launched its public issue on October 31. Global Health, operator of Medanta Hospitals; microfinance lender Fusion Micro Finance; and Bikaji Foods International will launch their public issues this week. In 2022, about 22 companies launched their IPOs raising over ₹44,000 crore compared to 64 IPOs raising over ₹1 lakh crore in 2021. Last year also saw many large issues like Paytm, Nykaa and Zomato. After interest rate hikes and other macro concerns like inflation and more, <a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms">many companies such as </a>Udaan, OYO Rooms and Byjus<a href="https://www.businessinsider.in/business/startups/news/amid-startup-funding-crunch-udaan-raises-120-million-and-plans-ipo-after-a-year/articleshow/95122956.cms"> have either delayed their IPOs </a>or postponed them. In 2022, Indian benchmark indices have gained more than 2%, outperforming global peers. Domestic investors continue to infuse capital despite <a href="https://www.businessinsider.in/stock-market/news/fpis-have-sold-equities-worth-over-13000-crore-since-september-with-flows-reversing-after-the-last-us-fed-rate-hike/articleshow/95121693.cms">outflows by foreign institutional investors (FIIs) and macro concerns</a>. It has now become crucial for startups to achieve profitability before going public as investors have become very cautious about investing in loss-making startups as seen in the cases of Nykaa, Paytm and Zomato. “Last year several new public issues did not do well because of high price valuations by several companies. Investors are becoming choosy now after what happened last year, where people lost huge money to IPOs with exorbitant valuations. Comfortable valuation and business visibility are two things investors are looking at before making a decision to invest in an IPO,” Sanjiv Hota, vice president - head of research at Sharekhan, told Business Insider India. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPOs opening this week </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO size </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">October 31 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 2 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹500 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Global Health </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> ₹2,205 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bikaji Foods </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 3 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 7 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹881 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Fusion Micro Finance </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 2 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 4 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,103 crore </td></tr></tbody></table> <keyword id="13552162" type="General" weightage="20" keywordseo="DCX-Systems-IPO" source="Orion">DCX Systems IPO</keyword> to raise ₹500 crore Bengaluru-based DCX Systems’ ₹500-crore IPO, which includes a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of ₹100 crore, was launched on October 31. The price band of the IPO is set at ₹197-207 a share. The company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies. It has a manufacturing facility located at the Hi-Tech Defence and Aerospace Park SEZ in Bengaluru. The company has 26 customers in Israel, US, Korea and India, including Fortune 500 companies, MNCs and startups. It has clients across sectors ranging from defence and aerospace, to space ventures and railways. The IPO proceeds will be utilised towards debt repayment, funding working capital, investment in its subsidiary and general corporate purposes. <keyword id="15366973" type="General" weightage="20" keywordseo="Fusion-Micro-Finance-IPO" source="Orion">Fusion Micro Finance IPO</keyword> to open on November 2 The New Delhi-based microfinance company that provides financial services to underserved women across India opens its IPO for subscription on November 2 and closes on November 4. The price band of the IPO is set at ₹350-368 a share. The company's business runs on a joint liability group-lending model, wherein a small number of women form a group (typically comprising five to seven members) and guarantee one another's loans. The proceeds from the IPO will be utilised towards augmenting the capital base of the company. The total issue size of the IPO is ₹1,103 crore, which includes fresh issue of ₹600 crore and an offer for sale of 1.36 crore equity by the company's shareholders and promoters. <keyword id="15211795" type="General" weightage="20" keywordseo="Global-Health-IPO" source="Orion">Global Health IPO</keyword> to raise ₹2,205 crore Hospital chain Global Health that operates under the brand ‘Medanta’ will open its IPO for subscription on November 3 and close on November 7. The price band of the IPO is set at ₹319-336 a share. Global Health is backed by private equity investors such as Carlyle Group and Temasek. It operates five hospitals under the Medanta brand in Gurugram, Indore, Ranchi, Lucknow and Patna. It has another hospital under construction at Noida. The company has key specialities in cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology. The proceeds from the IPO will be utilised towards repaying debt of its subsidiaries – Global Health Patliputra and Medanta Holdings and for general corporate purposes. The total issue size of the IPO is ₹2,205 crore, which includes fresh issue of ₹500 crore and an offer for sale of up to ₹1,705 crore via sale of 5.08 crore equity shares by the company's shareholders and promoters. Bikaji Foods ₹881 cr-IPO to open on November 3 Bikaji Foods International is a well known fast moving consumer goods (FMCG) brand that claims to be the largest manufacturer of Bikaneri Bhujia, packaged rasgulla, soan papdi and gulab jamun. Bikaji Foods’ products fall broadly into six categories – bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks, which primarily includes gift packs (assortment), frozen food, mathri range and cookies. The company sells more than 250 products under the Bikaji brand. The snack maker is backed by marquee investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management and Intensive Softshare. The company will not receive any funds from the IPO as it is a complete offer for sale by promoters and shareholders. The price band of the IPO is set at ₹285-300 a share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/nykaa-stock-climbs-over-5-after-it-reports-5-2-crore-profit-in-q2/articleshow/95229929.cms">Nykaa stock climbs over 5% after it reports ₹5.2 crore profit in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/amid-risks-of-a-slowdown-these-it-companies-are-best-placed-to-survive-the-storm/articleshow/95228871.cms">Amid risks of a slowdown, these IT companies are best placed to survive the storm</a>

Four IPOs to raise over ₹4,600 crore this week

<ul><li><keyword id="1953221" type="General" weightage="20" keywordseo="bikaji-foods-international" source="Orion">Bikaji Foods International</keyword> is the third largest player in the Indian snack industry with 8.7% market share after Haldiram and Balaji.</li><li>The snack maker is backed by marquee investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management and Intensive Softshare.</li><li>The company sells more than 250 products under the <keyword id="1872606" type="General" weightage="20" keywordseo="bikaji" source="Orion">Bikaji</keyword> brand.</li></ul>One of India’s largest fast moving consumer goods (FMCG) firms, Bikaji Foods International, has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO). As per market sources the company is likely to raise around ₹1,000 crore through the IPO. The company claims to be the largest manufacturer of Bikaneri bhujia, packaged rasgulla, soan papdi and gulab jamun. Bikaji Foods’ product ranges broadly into six categories -- bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks, which primarily includes gift packs (assortment), frozen food, mathri range and cookies. The company sells more than 250 products under the Bikaji brand. The snack maker is backed by marquee investors like Avendus, Axis Asset Management, Lighthouse Funds, IIFL Asset Management and Intensive Softshare. Bikaji Foods International is the third largest player in the Indian snack industry of ₹171 billion with 8.7% market share after Haldiram and Balaji. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Indian snacks segment </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;">Market share </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;">Haldiram </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;">36.6% </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;">Balaji </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;">9.6% </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;">Bikaji </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;">8.7% </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;">Bikanervala </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;">5.9% </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;">PepsiCo </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;">3.3% </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;">ITC </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;">3.1% </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;">Haldiram (Prabhuji) </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;">1.8% </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;">Prataap Snacks </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;">1.4% </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;">DFM Foods </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.1% </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;">Others </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;">28.3% </td></tr></tbody><tbody></tbody></table>Bikaji Foods runs six manufacturing facilities in states like Rajasthan, Assam and Karnataka. The company exports products to 35 countries, including countries in North America, Europe, Middle East, Africa, and Asia Pacific, representing 4.60% of sales of food products. The snack brand has been consistently growing its financial performance in the last three years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Bikaji Foods </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;">Revenue </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;">Profit </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;">FY21 </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;">₹1,310 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90 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;">FY20 </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;">₹1,074 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹56 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;">FY19 </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;">₹901 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹50 crore </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-could-finally-get-the-much-needed-capital-infusion-from-its-british-parent-vodafone-group-plc/articleshow/89774140.cms">Vodafone Idea’s British parent could infuse capital in the telco after refusing to do so for several months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/lic-ipo-list-of-policies-that-will-not-be-allowed-under-the-policyholder-reservation-category/articleshow/89768342.cms">LIC IPO: Here is a list of LIC policies not eligible under policyholders’ special quota</a>

The third largest player in the Indian snack industry is coming up with a likely ₹1,000 crore IPO

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="Sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="Nifty50" source="Orion">Nifty50</keyword> opened flat on Wednesday ahead of the <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> monetary policy outcome. </li><li>Economic jitters impacted crude oil prices, too – the Brent crude oil fell below the $80 per barrel level for the second time in 2022. </li><li>Sensex opened 11 points lower at 62,616 while the 50-stock index Nifty50 opened 4 points down at 18,639. </li><li>Vedanta, HDFC AMC, <keyword id="1953208" type="General" weightage="80" keywordseo="bikaji-foods" source="Orion">Bikaji Foods</keyword> are amongst the stocks to watch out for on Wednesday. </li></ul>Indian benchmark indices Sensex and Nifty50 opened flat on Wednesday ahead of the RBI monetary policy outcome and weak cues from global markets. <keyword id="90570" type="General" weightage="20" keywordseo="SGX-Nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the Indian markets may perform, was down 26.5 points, or 0.14% early morning today. <a href="https://www.businessinsider.in/stock-market/news/india-vix-cools-down-to-pre-covid-levels-heres-why-and-where-it-is-headed/articleshow/95743166.cms">India VIX</a>, the volatility index, was up 2.3% today at 14.04. Sensex opened 11 points lower at 62,616 while the 50-stock index Nifty50 opened 4 points down at 18,639. On Tuesday, indices <a href="https://www.businessinsider.in/stock-market/news/sensex-nifty50-end-lower-as-it-pharma-and-metal-stocks-decline/articleshow/96031407.cms">closed lower</a> as caution loomed ahead of the crucial Reserve Bank of India decision on interest rate hikes due today, December 7. Rupee plunged 82 paise to close at 82.62 against the US dollar on Tuesday, marking a month’s low. “Indian markets are likely to open on a flat to negative note on the back of weak global cues. Investors will keenly await the RBI’s bi-monthly policy outcome wherein it expects RBI to raise repo rates by ~35 basis points to 6.25%,” said ICICI Direct. <cmsannotation type="cmsannotation" annotationid="RBI could announce a 35 basis points rate hike" comment="subhead" text="RBI could announce a 35 basis points rate hike">RBI could announce a 35 basis points rate hike</cmsannotation> The Reserve Bank of India is <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">expected to announce</a> a 35 basis points rate hike on Wednesday. The expectations of RBI moderating the pace of rate hikes come at a time when there are talks of the US Fed also slowing down and reflecting on the impact of the hikes so far. India Inc., too, has sought a slowdown in rate hikes after <a href="https://www.businessinsider.in/business/corporates/news/india-inc-q2-fy23-revenue-rises-to-25-6-lakh-crore-here-are-the-winners-and-losers/slidelist/95577982.cms">reporting</a> a decline in net profit growth for the <a href="https://www.businessinsider.in/business/corporates/news/india-inc-s-rockstars-of-q2-and-things-that-investors-should-look-out-for-according-to-analysts/articleshow/95859858.cms">September quarter</a> – net profit of 1,917 Indian companies declined 5.4% to ₹2.18 lakh crore, while revenue grew 24% year-on-year to ₹25.6 lakh crore. <cmsannotation type="cmsannotation" annotationid="Crude oil price below $80" comment="subhead" text="Crude oil price below $80">Crude oil price below $80</cmsannotation> Crude oil price fell below the $80 per barrel level for the second time in 2022 amid concerns of economic slowdown. “Crude will take cues from China’s Covid situation that has been haunting oil markets as well as the Russian oil cap that kicked off on Monday. With the EU embargo and the price cap on Russian oil, along with China’s Covid situation, the price might witness wild moves from one direction to another,” said Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities. <cmsannotation type="cmsannotation" annotationid="US and Asian markets in red" comment="subhead" text="US and Asian markets in red">US and Asian markets in red</cmsannotation> Benchmark US indices closed in the red on Tuesday fearing recession while expecting the US Fed to slow its pace of interest rate hike when it meets next week. The benchmark S&amp;P 500 shed 1.44% on Tuesday and closed at 3,941 while Nasdaq Composite dipped 2% to 11,014, Dow Jones Industrial Average dropped 1% to close at 33,596. Following this, Asian markets also trended lower today with the Taiwan TSEC 50 Index falling 0.59%, China’s Shanghai SE Composite declining 0.48% and Nikkei 225 falling 0.46%. Meanwhile, Hong Kong’s Hang Seng was flat with a marginal decline of 0.01%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch out for on Wednesday" comment="subhead" text="Stocks to watch out for on Wednesday">Stocks to watch out for on Wednesday</cmsannotation> HDFC Asset Management Company: The company’s promoter abrdn Investment Management will sell its entire 10.2% stake in the company and cease to be a co-sponsor of HDFC Mutual Fund. Vedanta: The Anil Agarwal led company will consider raising ₹500 crore via non-convertible debentures (NCDs) on December 9 in one or more tranches. Bikaji Foods International: The snacks company has reported 43% on year growth in consolidated net profit at ₹40.92 crore while revenue grew by 32% on year to ₹577 crore. Maruti Suzuki: India’s largest carmaker has recalled 9,125 units of Ciaz, Brezza, Grand Vitara, XL6 and Ertiga manufactured between November 2-28, 2022, to fix a fault with the seat belt assembly. <cmsannotation type="cmsannotation" annotationid="Stocks under F&amp;O ban on NSE" comment="subhead" text="Stocks under F&amp;O ban on NSE">Stocks under F&amp;O ban on NSE</cmsannotation> Punjab National Bank, Indiabulls Housing Finance and Gujarat Narmada Valley Fertilizers are in the F&amp;O ban list on NSE on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/slower-rate-hikes-on-the-cards-say-analysts-ahead-of-rbis-december-monetary-policy-meet/articleshow/95881537.cms">Slower rate hikes on the cards, say analysts ahead of RBI’s December monetary policy meet</a> <a href="https://www.businessinsider.in/stock-market/news/us-india-and-china-markets-are-rallying-on-single-narratives-investors-need-to-be-cautious-say-experts/articleshow/96024939.cms">'One-trick' ponies – US, India and China markets are rallying on single narratives, investors need to be cautious, say experts</a> <a href="https://www.businessinsider.in/stock-market/news/uniparts-india-ipo-here-is-how-you-can-check-the-allotment-status/articleshow/96043984.cms">Uniparts India IPO: Here’s how you can check the allotment status</a>

Indian markets open flat ahead of RBI policy outcome – Vedanta, HDFC AMC, Bikaji Foods among stocks to watch out for

PE and VC investors make a killing in the 2023 bull market

<ul><li>Three in five snacks sold in India are Western, while the remaining two are Indian.</li><li>Overall, the organized <keyword id="553131" type="General" weightage="20" keywordseo="indian-snacks" source="Orion">Indian snacks</keyword> market stands at ₹41,000 crore.</li><li>The desi namkeen segment has been losing out on their market too due to four factors.</li></ul>The changes in customer preference is pitting India’s traditional snacks like <keyword id="1798207" type="General" weightage="20" keywordseo="aloo-bhujia" source="Orion">Aloo Bhujia</keyword>, murukku, makhane and more against international brands like <keyword id="382083" type="General" weightage="20" keywordseo="lays" source="Orion">Lays</keyword>, <keyword id="88717" type="General" weightage="20" keywordseo="bingo" source="Orion">Bingo</keyword> and Pringles. While this may come off as a comparison of apples and oranges, it does stand true. India’s traditional snacks are losing their market share to the Western-influenced ones. Three in five snacks sold in India are Western. “With increased penetration and movement from Indian ethnic to Western snacks, regional players are now competing with established Indian and international players,” a recent report by ICICI Securities read. Overall, the organized Indian snacks market stands at ₹41,000 crore with PepsiCo, ITC, DFM Foods, Prataap Snacks and a few others dominating the sector. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Top Companies </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;">Popular Brands </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;">PepsiCo </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;">Lay's chips and Kurkure </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;">ITC </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;">Bingo </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;">Prataap Snacks </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;">Yellow Diamond </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;">DFM Foods </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;">Crax </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Strong distribution, wide flavour range at varied price points and aggressive promotion are some of the leading drivers for Pepsico and ITC strong portfolio and market dominance. However, the stronghold of the top players is gradually declining with consumer preferences shifting to these mid-size players like DFM Foods, Balaji Wafers, Pratap Snacks, Maiyas, Laxmi Snacks and a few others. <div type="image" title="Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo bhujia" msid="92508600" hostid="261"></div> The Indian ethnic snack market is led by Haldiram, with IPO-bound Bikaji one of the top contenders in the north and earth Indian market. <div type="image" title="Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo bhujia" msid="92508608" hostid="261"></div> <cmsannotation type="cmsannotation" annotationid="Flavours, prices and availability" comment="subhead" text="Flavours, prices and availability">Flavours, prices and availability</cmsannotation> The data shared above does not include the unbranded Indian snacks or the desi namkeens that are usually sold in small kirana stores, chai tapris and other such stores. “The unorganised market is so huge that it remains undocumented, and even we don’t know the size of the total market,” Chittranjan Dar, CEO of ITC Foods, was <a href="https://economictimes.indiatimes.com/industry/cons-products/food/desi-namkeen-replaces-potato-chips-finger-sticks-as-top-seller-in-branded-salty-snacks-market/articleshow/16551664.cms?from=mdr">quoted </a>as saying by Economic Times. The report by ICICI Securities mentioned that the desi namkeen segment has been losing out on their market too due to four factors — flavours, pricing, consistent availability and convenience of buying of Western brands. The Indian savoury market is driven by Western snacks with a market share of roughly 58.3%. Ethnic namkeen and snacks’ market share is at 26.3%; and ethnic bhujia has a 15.4% market share. In other words if 10 snacks are sold in India, six would be Western, three would be ethnic and one would be bhujia. There is no doubt that the demand for regional snacks is increasing pan-India, especially due to urbanization and migrant spreads. But the demand for Western products is increasing much faster. “In the market, there is a range of branded and unbranded chips and extruders, which are usually limited to a city or even an area within a city. Furthermore, in India, customer preferences are evolving toward packaged Western snacks,” the ICICI report noted. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-steel-bajaj-auto-bank-of-baroda-among-stocks-to-watch-out-for-on-june-28/slidelist/92506964.cms">Tata Steel, Bajaj Auto, Bank of Baroda among stocks to watch out for on June 28</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/tata-steel-bajaj-auto-bank-of-baroda-among-stocks-to-watch-out-for-on-june-28/slidelist/92506964.cms"></a><a href="https://www.businessinsider.in/india/news/slow-sowing-wary-global-buyers-can-take-rice-prices-on-the-same-path-as-wheat/articleshow/92489067.cms">Slow sowing, wary global buyers can take rice prices on the same path as wheat</a> <a href="https://www.businessinsider.in/business/news/msmes-can-aid-waste-management-in-india-but-need-more-hand-holding/articleshow/92485293.cms">MSMEs can aid waste management in India but need more hand holding</a>

Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo Bhujia, Murukku

<ul><li>On Friday, the <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> was down 0.25% at 60,682 while the <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> was lower by 0.17% at 18,022.</li><li>Analysts said investors are likely to stay cautious post strong rate increases by central banks around the world.</li><li>On the domestic front, corporate earnings in Q2 have also not been great, which is weighing on the investor sentiment, say analysts.</li></ul>Indian benchmark indices on Friday were trading lower tracking global markets, which remained under pressure as the interest hikes by the US and the UK weighed on sentiments. At 10.58 am, the Sensex was down 0.25% at 60,682 while the Nifty50 was lower by 0.17% at 18,022. “Investors continue to remain cautious as central banks say the hawkish stance to combat inflation will not ease out soon with the Bank of England also increasing its benchmark rate by 75 basis points,” said analysts at ICICIdirect Research. On November 2, the <keyword id="6356435" type="General" weightage="20" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword> raised its benchmark interest rate by 75 basis points and its Chairman Jerome Powell said it would continue to hike rates till inflation was brought under control. After the US, the Bank of England also announced a 75 basis points interest rate hike – its largest in three decades, to tackle inflation. On the domestic front, <a href="https://www.businessinsider.in/finance/news/september-earnings-on-track-but-its-time-to-tone-down-optimism-says-kotak-institutional-equities/articleshow/95272073.cms">corporate earnings in Q2</a> have also not been great, which is weighing on investor sentiments, analysts said. “2QFY23 earnings season has been disappointing until now, with aggregate net profits of the Nifty-50 Index coming in 4.6% below estimates and 7.7% excluding financials. We note that broad weakness across sectors, excluding financials, limits the chances of earnings upgrades,” said a report by Kotak Institutional Equities. Sectoral indices of IT, banks, FMCG and pharma were trading in the red. Heavyweights like RIL, Bajaj Finserv, and Bajaj Finance, ITC stalled the index from falling further. Hero MotoCorp was the biggest loser on the Sensex after the two-wheeler maker announced a 10% year-on-year fall in net profit at ₹716 crore for the quarter ended September. <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;">Top gainers </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;">% change </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;">Top losers </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;">% change </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;">Bajaj Finserv </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;">3.31% </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;">Hero MotoCorp </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;">-1.83% </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;">Hindalco Industries </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;">1.99% </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;">BPCL </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;">-1.67% </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;">Ultratech Cement </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;">1.86% </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;">Divi’s Laboratories </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;">-1.50% </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;">JSW Steel </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;">1.76% </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;">Infosys </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;">-1.39% </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;">Eicher Motors </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;">1.15% </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;">Dr Reddy’s Laboratories </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;">-1.20% </td></tr></tbody></table>Further, shares of Britannia Industries, Titan, TVS Motor Company, Aditya Birla Fashion and Retail, Gail (India) and Cummins India will be in focus as these companies are expected to report their quarterly financial results on Friday. Today is also the last day to subscribe to the IPO of microfinance lender <a href="https://www.businessinsider.in/stock-market/news/four-ipos-to-raise-over-4600-crore-this-week/articleshow/95231537.cms">Fusion Micro Finance</a>. <a href="https://www.businessinsider.in/stock-market/news/bikaji-foods-international-ipo-subscribed-67-on-the-first-day/articleshow/95281730.cms">Bikaji Foods International </a>and <a href="https://www.businessinsider.in/stock-market/news/global-health-that-operates-medanta-hospitals-to-open-its-2205-cr-on-november-3/articleshow/95142371.cms">Global Health</a>, owner of Medanta Hospitals are the other two ongoing IPOs. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-ideas-q2-loss-widens-to-7596-crore/articleshow/95282354.cms">Vodafone Idea’s Q2 loss widens to ₹7,596 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/dilwali-week-cash-circulation-declines-for-the-first-time-in-20-years-sbi-ecowrap/articleshow/95280473.cms">Diwali week cash circulation declines for the first time in 20 years: SBI Ecowrap</a>

Indian markets trend lower as global cues weigh on sentiments

<ul><li>Inflows into equity mutual fund schemes tanked 76% in November to ₹2,258 crore as against ₹9,390 crore in October.</li><li>Meanwhile, debt schemes of mutual funds witnessed inflows of ₹3,668 crore during the month against outflows of ₹2,817 crore in the previous month.</li><li>In November, <keyword id="8196887" type="General" weightage="20" keywordseo="SIP-inflows" source="Orion">SIP inflows</keyword> were at an all-time high at ₹13,306 crore. This compared with ₹13,040 crore inflows in October.</li><li>Meanwhile, net assets under management (AUM) of the mutual fund industry stood at ₹40.37 lakh crore as on November 31, 2022.</li></ul><keyword id="15774953" type="General" weightage="20" keywordseo="Inflows-into-equity-mutual-funds" source="Orion">Inflows into equity mutual funds</keyword> plunged by 76% in the month of November as markets continued to be volatile on global uncertainty surrounding the pace of rate hikes by central banks across the US and Europe. Flows into equity mutual fund schemes tanked in November to ₹2,258 crore as against ₹9,390 crore in October, according to AMFI, the regulatory body for the mutual funds sector. Meanwhile, debt schemes of mutual funds, which are considered relatively safer, witnessed inflows of ₹3,668 crore during the month against outflows of ₹2,817 crore in the previous month. “Market continues to react to global headwinds. Rate hikes will continue to impact global markets but not for long, irrespective of that, (the) mutual fund industry has performed well. There have been outflows from the retail schemes as people are encashing profits,” said NS Venkatesh, chief executive at AMFI in a statement. He cited the festive season as the reason for people taking out profits. The net assets under management (AUM) of the mutual fund industry stood at ₹40.37 lakh crore as on November 31, 2022. On the bright side, SIP (systematic investment plan) inflows in November were at an all-time high at ₹13,306 crore. In October, the inflows were ₹13,040 crore. In November, mutual funds deployed ₹1,700 crore into the market while foreign institutional investors (FIIs) bought ₹34,900 crore in the Indian secondary market, said a report by Nuvama Institutional Equities (previously known as Edelweiss Institutional Equities). Key stocks that mutual funds bought in the month of November include HDFC Bank and Axis Bank. Meanwhile, mutual funds trimmed their holdings in ICICI Bank, HCL Technologies and Kotak Mahindra Bank, as per Nuvama. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Key additions by MFs </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;">Key deductions by MFs </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;">HDFC Bank </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;">ICICI Bank </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;">Axis Bank </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;">HCL Technologies </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;">Archean Chemicals </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;">Kotak Mahindra Bank </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>(Source:Nuvama Institutional Equities) <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> While the market remains volatile, the primary market has been recovering since November –with the month witnessing the highest number of IPO launches for 2022 at nine. Among the nine IPOs, mutual funds’ largest investment was in specialty chemical company Archean Chemical Industries that listed at a 10% premium to its issue price of ₹407. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Key additions in Midcap by MFs </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;">Key reductions in Midcap by MFs </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;">Key additions in Smallcap by MFs </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;">Key reductions in Smallcap by MFs </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;">Delhivery </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;">BHEL </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;">Archean Chemical </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;">Praj Industries </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;">Max Financial </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;">Ramco Cements </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;">Fusion Micro Finance </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;">GE Shipping Co </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;">Bikaji Foods 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;">Gujarat Gas </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;">Kaynes Technology </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;">UTI AMC </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;">PB Fintech </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;">PVR </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;"> </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;">Fino Payments </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>(Source:Nuvama Institutional Equities) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/five-women-newsmakers-in-2022-in-india-droupadi-murmu-madhabi-puri-buch-samantha-ruth-prabhu-in-the-list/slidelist/96191677.cms">Droupadi Murmu, Madhabi Puri Buch, Samantha Ruth Prabhu and more: Five women newsmakers of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/dalmia-bharat-to-acquire-cement-power-plants-of-jaiprakash-associates-for-5666-crore-enterprise-value/articleshow/96175228.cms">Dalmia Bharat to acquire cement, power plants of Jaiprakash Associates for ₹5,666 crore enterprise value</a>

Inflows into equity mutual funds plunge sharply in November; MFs trim holdings in ICICI Bank, HCL Tech, Kotak Mahindra Bank

<ul><li>Archean Chemicals Industries, Five Star Business Finance, Kaynes Technology India and Inox Green Energy Services will launch their issues this week.</li><li>These four companies collectively plan to raise ₹5,000 crore from the public this week. This comes on the back of last week’s four IPO launches.</li><li>Lately, the secondary market has been under pressure tracking global markets after the US and other central banks hiked interest rates.</li></ul>India’s IPO market is seeing a lot of action even as the secondary market comes under pressure following interest rate hikes from central banks in the US and elsewhere. Four companies have lined up to launch their initial public offering (IPOs) this week – Archean Chemicals Industries, Five Star Business Finance, Kaynes Technology India and Inox Green Energy Services. These four companies collectively plan to raise about ₹5,000 crore from the public. Last week, between Oct 31-Nov 5, saw the launch of four IPOs – with two of them still ongoing. Despite <a href="https://www.businessinsider.in/stock-market/news/sensex-snaps-2-day-losing-run-amid-firm-asian-cues-posts-weekly-gain/articleshow/95305691.cms">global risks impacting the domestic indices</a>, some of the recent IPO debuts on the exchanges saw strong listing gains – Electronics Mart saw a 51% premium while Harsha Engineers witnessed a 36% premium. Moreover, IPOs launched last week have also seen good subscriptions, including that of DCX Systems and Bikaji Foods International. In 2022, the Indian benchmark indices have gained over 3% as domestic investors continue to infuse capital despite <a href="https://www.businessinsider.in/stock-market/news/fpis-have-sold-equities-worth-over-13000-crore-since-september-with-flows-reversing-after-the-last-us-fed-rate-hike/articleshow/95121693.cms">outflows by foreign institutional investors (FIIs) and macro concerns</a>. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPOs opening this week </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO size (including offer for sale) </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Archean Chemicals Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 9 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 11 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,462 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Five Star Business Finance </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 9 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 11 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,960 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kaynes Technology India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 10 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 14 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹857 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Inox Green Energy Services </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 11 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nov 15 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹740 crore </td></tr></tbody></table> Archean Chemical Industries IPO to raise ₹1,462 crore Specialty chemical company Archean Chemical Industries is set to open its ₹1,462 crore IPO, which includes a fresh issue of equity shares worth ₹805 crore and an offer for sale (OFS) of ₹657 crore. The IPO will open on November 9 with a price band of ₹386-407 a share. The company is a speciality marine chemical manufacturer in India, focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world. It claims to be the only manufacturer of ‘sulphate of potash’ from natural sea brine in India. ‘Sulphate of potash’ is a high-end, specialty fertiliser for chlorine-sensitive crops and also has medical uses. Key geographies where the company exports its products include China, Japan, South Korea, Qatar, Belgium and the Netherlands. In FY22, it exported to 18 global customers across 13 countries. The proceeds from the fresh issue of shares will be utilised towards redemption of non-convertible debentures, and for general corporate purposes. <keyword id="12499259" type="General" weightage="20" keywordseo="Five-Star-Business-Finance-IPO" source="Orion">Five Star Business Finance IPO</keyword> to open on November 9 The IPO of Chennai-based non-banking financial corporation Five Star Business Finance is set to open on November 9 and close on November 11. The price band of the IPO is set at ₹450-474 a share. Five Star Business Finance plans to raise ₹1,960 crore through a complete offer-for-sale by the company’s promoters and existing shareholders. The company, which provides secured loans to micro-entrepreneurs and self-employed individuals, will not receive any funds raised from the IPO as all the shares are being sold by promoters. Tamil Nadu, Karnataka, Andhra Pradesh and Telangana account for 85% of its overall portfolio. The NBFC’s total income grew 19.5% from a year earlier to ₹1,254 crore in FY22, while its net profit grew 26.5% to ₹453 crore. Kaynes Technology IPO to raise ₹857 crore Mysore-based Kaynes Technology’s IPO worth ₹857 crore is all set to open on November 10 and close on November 14. The IPO includes a fresh issue of shares worth ₹530 crore and an offer for sale by promoters and shareholders worth ₹327 crore. Kaynes Technology is an internet-of-things (IoT) solutions-enabled integrated electronics manufacturing company. The company’s business ranges from offering built-to-specification products, manufacturing printed circuit board assemblies (PCBA), to making smart metres, smart street lights and more. Kaynes Technology also offers product engineering and IoT solutions to industries as well as common users. The company intends to use the proceeds of the issue for repaying some of its borrowings, funding capital expenditure requirements for expanding its manufacturing capacity, and for working capital needs. Inox Green Energy Services to raise ₹740 crore The IPO of wind power operation and maintenance service provider Inox Green Energy Services is set to open on November 11 and close on November 15. The company plans to raise ₹740 crore through a fresh issue of shares worth ₹370 crore and offer for sale of up to ₹370 crore. The price band of the IPO is set at ₹61-65 a share. The net proceeds from the fresh issue will be utilised towards repaying debts and for general corporate purposes. The company is in the business of providing long-term operation and maintenance (O&amp;M) services for wind farm projects, specifically the provision of O&amp;M services for wind turbine generators (WTGs) and the common infrastructure facilities on the wind farm. Inox Green Energy Services is a subsidiary of Inox Wind, which is listed on the exchanges. The company provides O&amp;M services to all customers who purchase WTGs from its parent company during the relevant warranty period as part of a one-stop shop/turnkey solution. It is currently entirely dependent on its parent Inox Wind for business. It has said in its RHP that if the parent company were to choose another service provider for operation and maintenance services of their wind turbine generators, its business, financial condition and prospects may be adversely affected. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/inox-green-energy-services-ipo-set-to-open-on-nov-11-price-band-at-61-to-65-a-share/articleshow/95360158.cms">Inox Green Energy Services IPO set to open on Nov 11; price band at ₹61 to ₹65 a share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/best-festive-auto-sales-in-the-last-4-years-but-sales-may-decline-says-fada-report/articleshow/95354054.cms">Best festive auto sales in the last 4 years, but sales may decline says FADA report</a>

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