<ul><li><keyword id="2947589" type="PERSON" weightage="20" keywordseo="Droom">Droom</keyword> will use this funding to expand its presence in the top 100 cities and international markets.</li><li>The round was led by 57 Stars and Seven Train Ventures.</li><li>The company’s competitors include IPO-bound CarTrade and unicorn startup Cars24.</li></ul>Online automobile marketplace Droom has got the wheels rolling for its initial public offering (IPO). The company is raising $200 million in a pre-IPO funding round, at a valuation of $1.2 billion. The company has already received a part of this $200 million funding. The company is pursuing a dual-track plan for the IPO. The company said it plans to be listed either on US-based NASDAQ or in India in 2022, Droom said in a statement. This round has also marked Droom’s entry into the unicorn (startups valued at or above $1 billion). It is the second automobile marketplace to do so. Gurugram-based Cars24 had <a href="https://www.businessinsider.in/business/startups/news/cars24-is-indias-latest-unicorn-as-it-raises-200-million-from-dst-global-and-existing-investors/articleshow/79388631.cms">entered the unicorn </a>club last year in November. The online automobile marketplace space seems to be heating up, as CarTrade is also headed for an IPO in 2021. The company has received Securities and Exchange Board of India’s (SEBI) approval to raise ₹2000 crore in public issue. Droom will use this funding to expand its presence in the top 100 cities and international markets as well as enhance its last-mile delivery. The round was led by new investors 57 Stars and Seven Train Ventures, the company said without sharing any more details. Existing investors also participated in the round. The company’s investors include Beenos, <keyword id="398097" type="ORGANIZATION" weightage="20" keywordseo="Toyota-Tsusho-Corporation">Toyota Tsusho Corporation</keyword>, Beenext, Lightbox, Beenos and others. “Droom has been on a steady growth trajectory after COVID. While automobile is the largest retail category, it is the least penetrated online. In a post-pandemic world, we expect automobile buying and selling to shift online rapidly,” Sandeep Aggarwal, founder and chief executive of Droom said in a press note. The company was founded in 2014 by Aggarwal. The company claims that its current annual run-rate is $1.7 billion in gross merchandise value (GMV) and $54 million for net revenue. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms" data-type="tilCustomLink">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories</a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms">Rolex Rings IPO opens today with a price band of ₹880-900</a> <a href="https://www.businessinsider.in/business/news/ratan-tatas-fund-backed-axio-biosolutions-raises-6-million-to-strengthen-its-position-in-india/articleshow/84790703.cms">Ratan Tata’s fund-backed Axio Biosolutions raises $6 million to strengthen its position in India</a>

Automobile marketplace Droom is raising $200 million in a pre-IPO round at unicorn valuation

<ul><li>Share prices of most new-age start-ups have been battered since the start of this year due to market corrections.</li><li>A recent report by investment bank DC Advisory notes that these market corrections are likely to reverse by next year.</li><li>A strong listing can even bring back the enthusiasm quicker</li></ul>It has been a tough year for India’s new-age start-ups as shares of recently listed companies like <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, PolicyBazaar, Nykaa and <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> take a beating at the bourses while funding dries up for private firms. Global market corrections due to the Russian-Ukraine conflict and weak business fundamentals are being blamed for the current situation Zomato — which crossed $13 billion in market capitalisation last year — is now valued less than its unlisted rival Swiggy at $5.5 billion. Paytm — which was the highest valued start-up in India at one point at $18 billion — is now barely at $5.9 billion at the moment. A recent report by investment bank DC Advisory noted that these “market corrections are not sticky” and were likely to come down as early as the first half of 2023. A strong <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> listing could help bring back the cheer. “A few positive events in the near future such as a strong listing for a digital-first company could have a domino effect and bring enthusiasm back to the market quicker than we all anticipate,” the investment bank said, while adding that the current market scenario has been a deterrent to companies planning to go public. <cmsannotation type="cmsannotation" annotationid="Companies go slow on IPO plans" comment="subhead" text="Companies go slow on IPO plans">Companies go slow on IPO plans</cmsannotation> The year 2021 saw India’s young start-up ecosystem mature as ten <keyword id="15935" type="General" weightage="20" keywordseo="tech-companies" source="Orion">tech companies</keyword> — namely EaseMyTrip, Zomato, CarTrade, Nykaa, Fino, PolicyBazaar, Paytm, Nazara, RateGain and MapMyIndia — made their public debut. One of the highlights of 2021 was the listing of software-as-a-service (SaaS) company Freshworks which had a stellar debut on the Nasdaq, turning<a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms"> 500 of its employees into millionaires</a>. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </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 since listing </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;">Nykaa </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;">-39.75% </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;">Zomato </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;">-54.91% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm </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;">-52.77% </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;">11.02% </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;">Freshworks </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;">-72.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PolicyBazaar </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;">-52.02% </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;">EaseMyTrip </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;">263.71% </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;">MapMyIndia </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;">1.29% </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;">Nazara Technologies </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;">-42.06% </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;">RateGain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-12.62% </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;">CarTrade </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;">-55.74% </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;">Fino Payments 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;">-53.54% </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;">Veranda Learning </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;">58.49% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Date: As of 11:14 am, July 14, 2022 However, most of these companies, including Freshworks, have lost their spark in the stock market mainly due to market correction, business performance and the ongoing Russia-Ukraine crisis. The disappointing market debut of Life Insurance Corporation, one of the most anticipated IPOs, and its continued underperformance, down 18 percent since its debut in May, has made more companies wary of going ahead with an IPO this year. “Tech IPOs, which saw a frenzy of activity last year, have delivered a disappointing performance for investors. We expect limited movement in IPO markets in the near term as investors try to rebuild conviction on digital stocks,” DC Advisory added. Companies like OYO, ixigo, Droom, Mobikwik, PharmEasy and SnapDeal were planning to go for a public listing this year and have already filed their papers with the Securities and Exchange Board of India (SEBI). Mobikwik and ixigo have also received an approval. Mobikwik, in a previous <a href="https://www.businessinsider.in/business/startups/news/mobikwik-ipo-is-not-happening-this-quarter/articleshow/89891819.cms">conversation with Business Insider</a>, has said that it will wait for the right market conditions to go public. <cmsannotation type="cmsannotation" annotationid="Prepping for a funding winter" comment="subhead" text="Prepping for a funding winter">Prepping for a funding winter</cmsannotation> Several stakeholders, investors and entrepreneurs have been girding for a funding winter that is expected to last anywhere between 12-24 months. The start-ups have already started laying off people, impacting at least <a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-a-little-over-11000-people-in-the-last-six-months/articleshow/92541036.cms">11,695 employees</a> this year alone. According to several experts Business Insider has spoken to, investors have a limited capital to invest and that is making them even more choosy. Industry’s biggest players, who already have heavy backing, may not face many hurdles in raising funds but smaller players may struggle. Investors have also become strict about valuing businesses. Media reports suggest that e-commerce company Meesho has been trying to close another funding round at a valuation of around <a href="https://timesofindia.indiatimes.com/business/india-business/meesho-to-raise-1bn-at-valuation-of-8bn/articleshow/87859070.cms">$8 billion</a> but has not been able to find investors. This tightening of the funding from venture capitalists (VC) and private equity (PE) is likely to spur a lot more mergers and acquisitions in the tech sector, the report added. ”We believe a shakeout within PE/VC deals in the tech sector was long overdue and expect a lot more consolidation in the market going forward,” the report said. SEE ALSO <a href="https://www.businessinsider.in/tech/enterprise/news/indian-tech-firms-contributed-nearly-200-billion-to-the-us-economy-creating-2-lakh-jobs/articleshow/92854889.cms">Indian tech firms contributed nearly $200 bn to the US economy, more than the combined economies of 20 US states</a> <a href="https://www.businessinsider.in/business/news/fintechs-are-helping-indian-msmes-get-over-their-biggest-challenges-but-there-is-still-a-long-way-to-go/articleshow/92848620.cms">Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it</a> <a href="https://www.businessinsider.in/business/startups/news/karan-virwani-kunal-shah-and-4-other-startup-ceos-invest-in-a-real-estate-venture/articleshow/92829944.cms">Karan Virwani, Kunal Shah and 4 other startup CEOs invest in a real estate venture</a>

As Zomato, Paytm and new-age start-ups struggle at bourses, their unlisted peers stare at funding winter

<ul><li>Compared to 15.9 per cent in 2020-21, the gross financial savings of households stood at 10.8 per cent in 2021-22. In the three previous fiscal years, it was 12 per cent.</li><li>According to a consultancy firm, high <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> has been the major reason behind fall in savings and in order to increase investments, savings need to be encouraged.</li><li>Indian households account for about 60 per cent of the country's savings, but this is falling gradually. </li></ul> Indian households' savings fell to a five-year low in 2021-22 as rising inflation gnawed into the <keyword id="15631502" type="General" weightage="20" keywordseo="purchasing-power-of-the-middle-class" source="Orion">purchasing power of the middle class</keyword>. Also, due to the Coronavirus-induced lockdowns, people were forced to dig into their savings, as the pandemic also led to severe job losses and in the absence of steady incomes, savings were the last resort for people to run their households. Compared to 15.9 per cent in 2020-21, the gross financial savings of households stood at 10.8 per cent in 2021-22. In the three previous fiscal years, it was 12 per cent. Though initially during the lockdowns, people saved their funds, keeping in mind the possibilities of having to spend on healthcare, once the restrictions eased, they went on a spending spree, what economists termed as "revenge spending". This led to depletion of their savings and a situation arose when spendings exceeded income and there were cases when despite having no jobs, expenditures rose, and savings bore the brunt of this excess or revenge spending, economists explained. According to official data, <keyword id="382273" type="General" weightage="20" keywordseo="Household-savings" source="Orion">household savings</keyword> figures were down to 2.5 per cent of the GDP in 2021-22, while share of other savings avenues like insurance, provident fund and pension funds went up to 40 per cent of gross financial savings. In 2021-22, shares and debentures' portion were also at a five-year high of 8.9 per cent, while the share of small savings hit a 16-year high of 13.3 per cent, according to reports. According to a consultancy firm, high inflation has been the major reason behind fall in savings and in order to increase investments, savings need to be encouraged. Indian households account for about 60 per cent of the country's savings, but this is falling gradually. Lower domestic savings exposes borrowers to overseas markets, weakening India's external position and raising external debt. India's savings rate had touched a 15-year-low as gross domestic savings stood at 30.9 per cent of GDP in FY20, down from a peak of 34.6 per cent in FY12. Household savings fell from 23 per cent of GDP in 2012 to 18 per cent in 2019. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bikaji-stocks-why-investors-continue-to-snack-on-this-stock/articleshow/95757704.cms">Bikaji Foods: Investors continue to snack on the stock that’s up 35% since listing</a>

Revenge spending effect: Household savings dip to 5 -year low

<ul><li>The Budget’s tax breaks, especially to the salaried class, are expected to lift consumer spending and benefit sectors like retail, FMCG and autos.</li><li>A capital outlay of ₹2.4 lakh crore proposed for the railways sector in the budget will also aid metal companies.</li><li>The proposal to set up 100 labs for development of applications using 5G services are positive for Reliance Jio and Bharti Airtel.</li></ul>The rally in the markets post <keyword id="7706673" type="General" weightage="20" keywordseo="finance-minister-nirmala-sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword>’s speech says a lot about the budget that surprised investors positively. After the bloodbath witnessed by the markets last week, the Union Budget brought a much-needed relief by giving the middle class a vital stimulus in the form of tax breaks. The tax bonanza will increase the disposable income in the hands of the common taxpayer, boosting consumer spending and benefitting sectors like retail, FMCG and autos, analysts say. Apart from a tax bonanza, the FM also proposed a capital expenditure outlay of ₹10 lakh crore for FY2024, up from ₹7.5 lakh crore last year. These and other announcements have given positive cues to metals, hotels, railway and top telecom companies. Here are analysts’ top stocks that are expected to benefit from the budget announcements. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top stocks to benefit from budget </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 in stock price </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;">Tata 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;">-1.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ashok Leyland </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;">-1.14% </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;">M&amp;M </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.08% </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;">Reliance 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;">-0.59% </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;">Bharti Airtel </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;">-0.28% </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;">Mahindra Holidays and Resorts India </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;">3.56% </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;">2.06% </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;">Tata 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;">1.96% </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;">2.09% </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;">Jindal Steel &amp; Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.32% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: NSE as on February 1 The proposal to set up 100 labs for development of applications using 5G services in areas including smart classrooms, healthcare and smart cities are positive for top two telecom companies like Reliance Jio and Bharti Airtel, says ICICI Securities. A capital outlay of ₹2.4 lakh crore proposed for the railways sector in the budget will also aid metal companies, say analysts. Positive on ITC despite surge in NCCD Despite a 16% increase in national calamity contingent duty (NCCD) for certain cigarettes, analysts are positive the higher duty will not impact volumes much. “We believe the surge in NCCD will not have a material impact on overall cigarette volume growth for the industry as it implies only a 1-2% price rise. We are positive on ITC and expect the volume growth for the company to remain stable, going ahead, “ said Preeyam Tolia, senior research analyst, FMCG &amp; retail at Axis Securities. Auto sector has lots to celebrate Further, the auto industry also has a reason to celebrate since the budget has removed custom duty on capital goods imported for the manufacturing of lithium-ion batteries used in electric vehicles (EVs). The move is to reduce the cost of EVs in the country. A proposed reduction of basic customs duty rates on goods other than agriculture and textiles from 21% to 13% is seen as another positive, while the relief in taxes is also expected to boost consumer spending by salaried consumers. Also, the finance minister said that more funds would be allocated towards scrapping old vehicles by the central government. "In addition to the vehicle scrappage policy announced in Budget 2021-22, more funds have been allocated now to support efforts to scrap old vehicles under the central government. States will also be supported to help them scrap old vehicles and old ambulances," said Sitharaman in her budget speech. This is seen boosting the commercial vehicles industry. The significantly higher capex allocation will support the commercial vehicles industry and will be positive for multi-axle vehicles and tippers, said Crisil. “Increase in spending on infrastructure, setting up of 50 new airports and heliports, creation of 100 transport infrastructure projects are welcome moves, in addition to the central support for replacing old vehicles. All of these should drive consumption and overall demand of vehicles," said Banwari Lal Sharma, CEO, consumer business at CarTrade Tech. Hotel stocks are among favourites Shares of hotel companies rose on Wednesday after the finance minister announced that the government will promote tourism in the country. "Promotion of tourism will be taken up on mission mode with the active participation of states, the convergence of government programs &amp; public-private partnerships," said Sitharaman in her budget speech. There is a large potential to be tapped in tourism. The sector holds huge opportunities for jobs and entrepreneurship for youths, she added. “There is a huge thrust on the tourism sector in the budget. 50 domestic destinations will be selected and uplifted. Domestic tourism will be promoted as an alternative to international tourism. We have seen Samhi Hotels, Oyo, Ixigo planning their IPO in 2023. If you look at Easemytrip, which got listed in 2021 has created huge wealth for investors (and is) also announcing high growth in topline and bottomline,” said Manish Khanna, co-founder at Unlisted Assets. The special push to the tourism sector is expected to bring more companies from the tourism sector to the listed space. “We would see many companies in this sector going in for IPO from the unlisted space. Some of the burn companies like Oyo are also expected to be operationally profitable in FY23, which is a huge positive coming out from covid downturn,” said Khanna. However, one thing that will have a negative impact on the tourism industry is the move to increase the tax collected at source (TCS) mandate from 5% to 20% on overseas tour packages. “This will not only increase the upfront cash outflow for customers but will also give an unfair advantage to foreign-based online travel booking platforms over India-based travel agents and tour operators,” said Rajesh Magow, co-founder and group CEO of MakeMyTrip. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="509507865"> ₹15,000 Cr allocated over three years under Schedule Tribe Mission towards:🔶 Safe housing and 🔶 Infrastructure development towards RoadPM Awas Yojana fund increased by 66% YoY ₹79,000 Cr allocated for FY24 to boost demand of cables and wiresFarm Credit Limit for FY24 raised to ₹20 Lakh Cr, beneficial for Agrochem and Seed companiesTo enhance indigenous production for lab grown diamonds and reduce import dependency,Financial support to be provided to IITs for research and developmentPositive for gems and Jewellery sectorStocks to watch$TITAN.NSE $GOLDIAM.NSE $PCJEWELLER.NSE $NIFTY50.NSE &mdash; (@KhapreVishal) <a href="https://stocktwits.com/KhapreVishal/message/509507865"> February 01, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/evs-that-import-parts-to-get-costlier-as-budget-gives-a-boost-to-in-house-manufacturing/articleshow/97529239.cms">EVs that import parts to get costlier as Budget gives a boost to in-house manufacturing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/income-tax-bonanza-capex-push-to-green-energy-budget-2023-summarised/slidelist/97527360.cms">Income tax bonanza, capex push to green energy: Budget 2023 summarised</a>

Budget Impact: 10 stocks that stand to gain from FM’s announcements

<ul><li>The phrase "<keyword id="14520" type="General" weightage="100" keywordseo="black-friday" source="Orion">Black Friday</keyword>" was first used by Philadelphia's police departments in the 1950s. </li><li>Black Friday primarily refers to the sales period during or right after <keyword id="32170" type="General" weightage="20" keywordseo="thanksgiving" source="Orion">Thanksgiving</keyword>, where brands go all guns blazing, claiming to offer heavily discounted prices online and offline. </li><li>Even in India, retailers are offering discounts on mobiles, apparel, white goods, electronics to name a few. </li></ul>A month before the arrival of <keyword id="6454936" type="General" weightage="50" keywordseo="santa-claus" source="Orion">Santa Claus</keyword>, and a day after Thanksgiving comes a day that’s very important to buyers and sellers alike – Black Friday. The day which kicks off the Christmas shopping season is known for its deep discounts, sales and product launches. The concept of having a sale on Black Friday originated from the United States – the country which celebrates Thanksgiving. But it wasn’t always associated with shopping. The phrase Black Friday was first used by Philadelphia's police departments in the 1950s to name the chaos that followed Thanksgiving. At that time, a football game would draw hundreds of suburban tourists into the city, which would be problematic for the police to control. However, there is another bleak reason why the phrase was coined. On Friday, September 24, 1869, plummeting gold prices dragged down the American stock markets, sending thousands into bankruptcy. “The crash was a consequence of an attempt by financier Jay Gould and railway magnate James Fisk to corner the gold market and drive up the price,” as per the <a href="https://www.britannica.com/story/why-is-it-called-black-friday">Encyclopedia Britannica</a>. Thankfully, currently Black Friday primarily refers to the sales period where brands go all guns blazing, claiming to offer heavily discounted prices on appliances, fashion, gadgets and more. This year, the Black <keyword id="15591763" type="General" weightage="50" keywordseo="friday-sale" source="Orion">Friday Sale</keyword> begins from Friday, November 25 and ends on Monday, November 28 - which also happens to be <keyword id="1461657" type="General" weightage="20" keywordseo="cyber-monday" source="Orion">Cyber Monday</keyword> i.e. when deals on electronic devices fall on the first Monday after Thanksgiving. Black Friday in India too India, which just got done with its own festive season sale lasting a month between September 22 to October 23, is also leaving no chance to jump onto the bandwagon. Amazon, Croma, TataCliq, Myntra, and Flipkart are some of the companies offering Black Friday deals. And, a large number of steep deals are being offered in the fashion category, especially for Western wear. TataCliq is offering up to <a href="https://www.tatacliq.com/black-friday-prebuzz?cid=af:homepage:RED+PIXELS+VENTURES+LIMITED:hasoffers:15032017">85% discount</a> for premium <a href="https://www.business-standard.com/article/companies/tata-cliq-luxury-plans-black-friday-sale-from-november-23-at-a-large-scale-122112100797_1.html">brands</a> like Kate Spade, Calvin Klein, Lacoste, <keyword id="226977" type="General" weightage="50" keywordseo="michael-kors" source="Orion">Michael Kors</keyword>, Aldo, <keyword id="15616962" type="General" weightage="50" keywordseo="dune-london" source="Orion">Dune London</keyword>, Hoka. H&amp;M is offering 30% off on Black Friday and other brands like <keyword id="4291829" type="General" weightage="50" keywordseo="zara-india" source="Orion">Zara India</keyword>, <keyword id="567332" type="General" weightage="50" keywordseo="puma-india" source="Orion">Puma India</keyword>, Adidas are also offering at least 40% discounts on its products, both online and offline. Myntra Black Friday haul is between November 25-27 presenting discounts of flat 70% on 1.5 lakh styles with brands like Mango, Marks &amp; Spencer and more. Retailers and brands both are offering deals in electronics too. Noise (smartwatches, Airpods), Steam and PlayStation are offering deals on gaming equipment and offers on PC gaming titles. Croma India will give discounts on white goods, home appliances, Apple MacBook (starts ₹77,090), iPads (starting at ₹25,000) and iPhones (starting at ₹56,990) at discounted prices. It began its Black Friday sale from 18 November which will conclude on 27 November. Flipkart is kickstarting its Black Friday deals from November 25, offering 50-inch smart TVs beginning from ₹23,999. List of companies offering Black Friday and Cyber Monday Sales in India: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </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;">Duration of Black Friday Sales 2022 </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;">Myntra Black Friday Haul 2022 </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;">November 25-27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Croma Darkest Black Friday Sale </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;">November 18-27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata CliqLuxury Black Friday Sale 2022 </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;">November 23-28 </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;">Noise Black Friday Sale 2022 </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;">November 22-25 </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;">Flipkart Black Friday Sale 2022 </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;">November 25-30 </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;">Adidas India Black Friday Sale </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;">November 25-27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Puma Black Friday Sale </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;">November 25-28 </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;">Zara Black Friday Sale </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;">November 25-28 </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;">H&amp;M Black Friday Sale </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;">November 25 </td></tr></tbody></table> Too Good to be true? Recheck deal, says FBI With sales come scams, and this time dark entities are doing the rounds on the web looking to cash in on the festive fervour to shop online. The Federal Bureau of Investigation or FBI has given a warning on frauds that are lurking in the guise of offers. It is essential to check the official legitimacy of websites, according to Jeffrey R Downey, Special Agent in Charge of the FBI El Paso Field <a href="https://www.gadgetsnow.com/tech-news/planning-to-shop-in-blackfriday-and-cyber-monday-sales-fbi-has-a-warning/articleshow/95753579.cms">Office</a>. In addition, fake social media surveys during sale festivities are opening gateways to mine personal information. Fraudulent gift cards, unverified donations to charity organisations online, fake job postings, offers for free smartphones are some other ways unassuming customers are tricked. (with inputs from ANI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-to-raise-rs-20000-cr-through-fresh-share-issue/articleshow/95764529.cms">Adani to raise Rs 20,000 cr through fresh share issue</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/uniparts-indias-836-crore-ipo-to-open-on-november-30/articleshow/95764556.cms">Uniparts India’s ₹836 crore IPO to open on November 30</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a>

Black Friday: The sales, scams and myths

<ul><li><keyword id="6947922" type="UNKNOWN" weightage="20" keywordseo="chiratae">Chiratae</keyword> plans to invest in 50 startups with this fund over the next couple of years.</li><li>It will look to make bets in 20 startups annually, working across seed stage to late stage.</li><li>Chiratae is also an investor in PolicyBazaar, which has recently filed preliminary papers to go public.</li><li>Its portfolio includes 100 companies such as Lenskart, Firstcry and Cure.fit.</li></ul>Investment firm <keyword id="6891457" type="UNKNOWN" weightage="20" keywordseo="chiratae-ventures">Chiratae Ventures</keyword> has announced the final close of its fourth fund at $337 million on Friday, August 6. The Mumbai-based venture capital (VC) firm will use this capital to invest in about 50 companies over the next couple of years. It plans to close about 15-20 deals on an annual basis, Chiratae Ventures’s executive director and partner Karthik Prabhakar told Business Insider. These investments would range from early-stage to later stage rounds. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Average Investment Size </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Seed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1-$1.5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Series A </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to $5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Series B </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to $7 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Later Stages/Larger Cheques </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Up to $40 million </td></tr></tbody><tbody></tbody><tbody></tbody></table> Though the closure of Chiratae’s Fund IV was delayed by over 10 months due to COVID-19, it was oversubscribed by 25%. The fund is backed by marquee investors such as World Bank’s investment arm International Finance Corporation (IFC), Infosys’ Kris Gopalakrishnan, Asian Paints FO, Unilever, ITC, Premji Invest, Nippon, and others. Chiratae Ventures (formerly known as IDG Ventures India) was founded by <keyword id="145348" type="PERSON" weightage="20" keywordseo="Sudhir-Sethi">Sudhir Sethi</keyword> and <keyword id="3092057" type="PERSON" weightage="20" keywordseo="TC-Meenakshisundaram">TC Meenakshisundaram</keyword> in 2006. The investment firm — which has $950 million as assets under management (AUM) — has invested in more than 100 companies in India. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key Investments </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Agrostar, Bizongo, Bounce, Cropin, Emotix, GoMechanic, HealthifyMe, PlayShifu, Pyxis, and Vayana </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key Exits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CloudCherry, Flipkart, Manthan, Myntra, Newgen, PlaySimple, and Xpressbees </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unicorns* </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Firstcry, Lenskart, PolicyBazaar </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Soonicorns** </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Curefit, Uniphore </td></tr></tbody><tbody></tbody><tbody></tbody></table>*Unicorns are companies valued at or above $1 billion. **Soonicorns are companies are going become unicorn soon Its portfolio companies include Yatra and Newgen, which went public in 2016 and 2018 respectively. The company currently has three initial public offering (IPO)-bound companies in its portfolio. This includes online insurance aggregator PolicyBazaar, which recently filed its <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers </a>with market regulator Securities and Exchange Board of India (SEBI) to go public. Although the investment firm claims to have two more publicly-listed companies in making over the next three years, it has refused to share any more details about them. Chiratae has big plans with startups going public The Indian startup ecosystem was busy churning out unicorns in the summer of 2021, but the monsoons are all about IPOs. Over the last months, several <a href="https://www.businessinsider.in/business/startups/news/these-are-some-of-the-highest-paid-founders-of-indian-startups-tapping-capital-markets-this-year/slidelist/85005261.cms">companies</a> like Nykaa, Mobikwik, Paytm, Fino Payments Bank, and CarTrade have filed their papers for IPO. Meanwhile, Zomato and EasyMyTrip have already listed publicly. The way things are going, Chiratae expects to have more IPO-bound or listed companies in its portfolio. The investment firm has not pitched to sell any of its shareholdings in PolicyBazaar, the fintech startups’s <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">draft red herring prospectus (DRHP)</a> has revealed. Talking to Business Insider, Chiratae Ventures’ founder and chairperson Sudhir Sethi said, “We've exited 35 or 38 companies. Some have died, so the active portfolio is around 60. We invest in 15 every year. Will there be some who will become unicorns? Will there be some who won't last out longer? The answers are very big yes. The three numbers going to ten, don’t be surprised because scaling is happening.” Meanwhile, Meenakshisundaram added that IPOs are going to be a big trend as companies in the last decade have grown to scale. There have been a lot of exits — both in secondary market or in IPO — which has given the investors the confidence to come into this asset class, he added. Meanwhile, Sethi added that decade old companies are going public now and the cycle will continue forward. “I think the world of unicorns is a given, right? It's the world of decacorns, which is now being thought of,” he added. “Compared to yesterday, today, obviously, is a lot more exciting, and the best time to be an entrepreneur and a VC,” Prabhakar added. 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