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<ul><li>Cello World is expected to announce its share allotment status today, November 3.</li><li>The shares of Cello World were subscribed 41.69 times.</li><li>The shares are expected to be listed on the stock exchanges on November 3.</li></ul> Mumbai-based Cello World, a consumer product company which deals in stationery, consumer housewares, furniture and more is expected to announce the allotment status of its initial public offering (IPO) today, that is November 3. The <keyword id="18420188" type="General" weightage="20" keywordseo="cello-world-ipo" source="Orion">Cello World IPO</keyword> opened on October 30 and closed on November 1. The price band for the IPO was ₹617 to ₹648 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Cello World IPO was subscribed 41.69 times, receiving bids for 85.83 crore equity shares against 2.21 crore shares on offer. While the qualified institutional buyer portion was subscribed 122.20 times, the non-institutional investors portion was subscribed 25.65 times. The retail portion also witnessed good participation and was subscribed 3.21 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Cello World are currently commanding a grey market premium (GMP) of ₹160 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="19360923" type="General" weightage="100" keywordseo="cello-world-ipo-allotment" source="Orion">Cello World IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Cello World’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Cello World IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Cello World’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>You will be able to see the number of shares allotted to you.</li><li>You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE.</li></ul> <cmsannotation type="cmsannotation" annotationid="Cello World IPO listing date" comment="subhead" text="Cello World IPO listing date">Cello World IPO listing date</cmsannotation> The shares of Cello World will be listed on the stock exchanges on November 3. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-q3-smartphone-shipments-apple-gains-34-pc-market-share-in-india/articleshow/104907807.cms">Smartphone shipments: Apple gains 34% market share in India as Samsung, Xiaomi decline</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a> <a href="https://www.businessinsider.in/business/auto/news/mercedes-benz-gle-facelift-heres-what-the-luxury-suv-packs-at-96-4-lakh/articleshow/104912934.cms">Mercedes-Benz GLE Facelift – Here’s what the luxury SUV packs at ₹96.4 lakh</a>

Cello World IPO allotment – how to check allotment, GMP, listing date and more

<ul><li>The stock listed at ₹831 as compared to its IPO price of ₹648.</li><li>The grey market was expecting 25% listing gains from the stock.</li><li>The ₹1,900 crore IPO was subscribed almost 39 times the shares on offer. </li></ul><keyword id="15532259" type="General" weightage="20" keywordseo="cello-world" source="Orion">Cello World</keyword> debuted on the stock exchanges with a 28% premium on Monday, overshooting grey market expectations even if it’s by a small margin. The grey market was expecting 25% listing gains from the stock. During the trading session, it sustained most of its initial gains. The stock closed 22% higher than its issue price. The market cap of the company is at ₹17,636 crore, as per Bombay Stock Exchange. The ₹1,900 crore IPO of consumer goods company Cello World was subscribed almost 39 times the shares on offer. QIBs bid aggressively for the issue as this portion was subscribed 108 times as of Wednesday evening. The non-institutional investor (NII) portion was subscribed 24 times. Its retail portion was subscribed thrice over. The price band has been fixed at ₹617 to ₹648. The last few companies that debuted on the stock exchanges have given fairly positive listing returns, barring a few. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plaza Wires </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Infra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.5% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatra </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Company has a dominant market position say analysts The company manufactures, distributes and sells a wide range of products like drinkware, insulated ware, dinnerware, serveware, and glassware across India. It has products across categories like cleaning supplies, stationery, small kitchen appliances, moulded furniture, and air coolers. “Cello benefits from a distribution advantage due to its large off-take per retailer. Retailers, too, find it advantageous to stock Cello's products due to the comprehensive range, enabling them to fulfill diverse customer demands through a single brand,” says a report by BP Equities. Its main risks include fluctuations in raw material prices like plastic granules and plastic polymer prices etc and their supply chain issues. It also doesn’t own the trademark for its key brands, like ‘Cello’, ‘Unomax’, ‘Kleeno’ and ‘Puro’. Also, one of its competitors also uses the ‘Cello’ brand name for its writing instruments business. The company says that any adverse impact on its brand name due to the actions of competitors may adversely impact its reputation and business. Its margins, profitability depend on maintaining its existing capacity utilisation rate. “Consumer awareness towards safety and quality, shorter replacement cycles, a shift towards the aesthetics of products, loyalty to established brands, increasing disposable income, and nuclearization of families are contributing to the growth of the branded consumer ware market in India,” says a report by Geojit, which gives it a 'Subscribe' rating for the issue on a long-term basis. A report by Choice Broking also believes that the company has a dominant position in the market. “There are growth tailwinds for the sector and CWL is well placed to benefit from the same. But due to a highly priced issue, we are assigning a ‘Subscribe with Caution’ rating for the issue,” it adds.

Cello World stock closes 22% higher than issue price on debut day

<ul><li>The issue received very good interest from institutional buyers.</li><li>The IPO is a complete offer for sale where no proceeds will go to the company. </li></ul>The initial public offer (IPO) of consumer goods company <keyword id="15532259" type="General" weightage="20" keywordseo="cello-world" source="Orion">Cello World</keyword> was subscribed almost 39 times the shares on offer, on the last day of the issue. Qualified Institutional Buyers (QIBs) bid aggressively for the issue as this portion was subscribed 108 times as of Wednesday evening. The non-institutional investor (NII) portion was subscribed 24 times. Its retail portion was subscribed thrice over. The price band has been fixed at ₹617 to ₹648, and investors can bid for a minimum of 23 shares and in multiples thereof. It aims to raise as much as ₹1,900 crore via the public issue. The company has raised ₹567 crore from anchor investors ahead of the IPO, on Friday. The IPO is a complete offer for sale wherein no proceeds from it will go to the company. <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;">Type of investor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No of times subscribed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">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;">108.57 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">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;">24.42 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.06 </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;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">38.90 </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: BSE Dominant market position say analysts The company manufactures, distributes and sells a wide range of products like drinkware, insulated ware, dinnerware, serveware, and glassware across India. It has products across categories like cleaning supplies, stationery, small kitchen appliances, moulded furniture, and air coolers. “Cello benefits from a distribution advantage due to its large off-take per retailer. Retailers, too, find it advantageous to stock Cello's products due to the comprehensive range, enabling them to fulfill diverse customer demands through a single brand,” says a report by BP Equities. Its main risks include fluctuations in raw material prices like plastic granules and plastic polymer prices etc and their supply chain issues. It also doesn’t own the trademark for its key brands, like ‘Cello’, ‘Unomax’, ‘Kleeno’ and ‘Puro’. Also, one of its competitors also uses the ‘Cello’ brand name for its writing instruments business. The company says that any adverse impact on its brand name due to the actions of competitors may adversely impact its reputation and business. Its margins, profitability depend on maintaining its existing capacity utilisation rate. “Consumer awareness towards safety and quality, shorter replacement cycles, a shift towards the aesthetics of products, loyalty to established brands, increasing disposable income, and nuclearization of families are contributing to the growth of the branded consumerware market in India,” says a report by Geojit, which gives it a 'Subscribe' rating for the issue on a long-term basis. A report by Choice Broking also believes that the company has a dominant position in the market. “There are growth tailwinds for the sector and CWL is well placed to benefit from the same. But due to a highly priced issue, we are assigning a ‘Subscribe with Caution’ rating for the issue,” it adds. SEE ALSO <a href="https://www.businessinsider.in/business/news/wine-vs-tea-indias-consumption-trends-show-a-sharp-divergence/articleshow/104810168.cms">Wine vs Tea: India’s consumption trends show a sharp divergence</a> <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a>

Cello World IPO subscribed 38.9.4x with bumper bids from QIBs

<ul><li>Cello World’s proposed IPO is a complete offer for sale by promoters and other shareholders.</li><li>The company manufactures and sells consumer houseware, writing instruments, stationery, moulded furniture and allied products.</li><li>It has 13 across five locations in India, with most facilities in Daman. </li></ul>Mumbai-based Cello World known for its consumer houseware, stationery, moulded furniture and others has filed its Draft Red Herring prospectus (DRHP) with market regulator SEBI to raise funds through for its public offer. The initial public offer (IPO) with a face value of ₹5 is a complete offer for sale (OFS) where promoters and other shareholders will sell shares. The OFS comprises of up to ₹300 crore by Pradeep Ghisulal Rathod, up to ₹670 crore by Pankaj Ghisulal Rathod, up to ₹380 crore by Gaurav Pradeep Rathod, up to ₹200 crore by Sangeeta Pradeep Rathod, up to ₹100 crore by Babita Pankaj Rathod and up to ₹100 crore by Ruchi Gaurav Rathod. The offer is being made through the book building process, wherein not more than 50% shall be allocated on a proportionate basis to Qualified Institutional Buyers (QIBs). Not less than 15% of the shall be available to non-institutional bidders and not less than 35% to retail investors. Its book running lead managers are Kotak Mahindra Capital Company, ICICI Securities, IIFL Securities, JM Financial and Motilal Oswal Investment Advisors Limited. Link Intime India Private Limited is the registrar to the offer. About the company The company has 13 manufacturing facilities which are either owned or leased. It has eight facilities in Daman, two in Haridwar; one each in Baddi, Chennai, and Kolkata. It’s also in the process of establishing a glassware manufacturing facility in Rajasthan. Its distribution network spans across the nation, supported by a sales team of 683 members. For the consumer houseware category, it collaborates with 678 distributors and around 51,900 retailers across India. For stationery, it has 29 super-stockists, approximately 1,450 distributors, and roughly 59,100 retailers. In the moulded furniture and allied products category, it works with 1,067 distributors and around 6,500 retailers located throughout India.

Houseware & stationery maker Cello World seeks SEBI's nod to raise ₹1,750 crore via IPO

The capital generated through mainboard <keyword id="19898327" type="General" weightage="80" keywordseo="ipo" source="keywords">IPO</keyword>s dipped slightly to just over Rs 52,000 crore in 2023 amid global volatility driven by rising interest rates and geopolitical risks, while the number of issues rose. Experts maintain a strong bullish outlook on the IPO market for 2024. Excluding LIC's blockbuster maiden public issue of Rs 20,557 crore in 2022, initial public offering (IPO) collection actually increased by 36 per cent this year. Notably, mid and small-cap companies were in flavor this year, given the considerable tailwind in the markets. The market environment for IPOs has been extremely robust in 2023, though the start of the year was tepid due to global headwinds. "A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers. Another strong pillar of the Indian market ecosystem is the robust yet efficient regulatory framework," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors. V Prashant Rao, Director &amp; Head - ECM, Investment Banking, Anand Rathi Advisors, believes that the momentum of 2023 will roll over to 2024 and that could be a golden period for Indian primary markets. "We hold a strong bullish outlook on the IPO market in 2024. This optimism is buoyed by robust domestic and foreign investments, driven by superior growth prospects of the Indian markets. The inflows are expected to gain even more momentum once the uncertainties related to the elections are resolved," said Neha Agarwal - MD &amp; Head, Equity Capital Markets, <keyword id="19930937" type="General" weightage="50" keywordseo="jm-financial" source="keywords">JM Financial</keyword>. Around 24 companies, which have already received clearance from the markets regulator Sebi but are yet to launch their IPOs, are looking to raise over Rs 26,000 crore. Add to this, 32 more companies have filed their draft papers with Sebi and are awaiting clearances to mobilise more than Rs 35,000 crore, according to data provided by <keyword id="19930934" type="General" weightage="50" keywordseo="prime-database" source="keywords">Prime Database</keyword>. Going by the industry data, as many as 58 maiden public issues have been floated this year to raise Rs 52,637 crore, including Rs 3,200-crore IPO of Nexus Select Trust REIT. The fund mobilization in 2023 was lower than 40 companies raising Rs 59,302 crore last year. This was largely due to the Rs 20,557-crore LIC issue, which constituted as much as 35 per cent of the total amount raised during 2022. Before that, 63 companies had mobilized Rs 1.2 lakh crore through the initial share sales in 2021, which was the best IPO year in two decades. This fundraising was driven by excessive liquidity and increased retail investor participation, which spurred a persistent euphoria in the primary market. In the past three years, more than 150 mainboard IPOs have come for listing. "Despite high global volatility due to rising interest rates and geopolitical risks, 2023 was a very good year for Indian IPO markets," JM Financial's Agarwal said. Of the total 58 issues, 38 were floated during September and December. The big size issues were missing in 2023 with an average ticket size of Rs 865 crore. The same was the case last year too. Except for LIC and Delhivery, the majority of the IPOs were in the sub-Rs 1,500 crore IPO category. Mankind Pharma IPO (Rs 4,326 crore) was the largest issue of 2023, followed by <keyword id="19930935" type="General" weightage="50" keywordseo="tata-technologies" source="keywords">Tata Technologies</keyword> (Rs 3,042 crore), JSW Infrastructure (Rs 2,800 crore), RK Label (Rs 1,964 crore), and Cello World (Rs 1,900). The smallest IPO in the period was <keyword id="19930936" type="General" weightage="50" keywordseo="plaza-wires" source="keywords">Plaza Wires</keyword>, which raised Rs 67 crore. "With the markets showing considerable tailwinds, the mid and small-cap companies are in flavour and will continue to rule the roost," Anand Rathi Advisors' Rao said. Going public provides companies with extra funds for expansion, working capital, and debt repayment. It also boosts the company's visibility, attracting more business opportunities. Further, long-time investors often see the IPO as an exit strategy. Interestingly, the IPO subscription ratio has been on the higher side this year, with some of the issues, including <keyword id="19904719" type="General" weightage="50" keywordseo="motisons-jewellers" source="keywords">Motisons Jewellers</keyword>, Plaza Wires, Utkarsh Small Finance Bank and ideaForge Technology getting subscribed more than 100 times. The huge interest in IPO launches translated into listing gains as well. Of the companies listed this year, 47 companies are trading above their issue price and only four firms are trading below their issue price. Some of the firms gave positive gains ranging from 0.25 per cent to 228 per cent. Sectors such as industrial, consumer discretionary, and healthcare continued to drive the IPO market. These sectors collectively cumulated to more than 50 per cent in terms of both the number of issues and the funds garnered. Additionally, technology and finance made significant contributions. Apart from main-board IPOs, a spate of public offers was seen on the SME segment. A total of 175 Small and medium enterprises (SMEs) collected a record Rs 4,545 crore through the initial share sales this year, as compared to 109 such firms that collected Rs 1,875 crore in 2022. Before that, SME IPOs had garnered Rs 746 crore in 2021. Interestingly, the magnitude of subscription rates in a dozen of companies was more than 300 times and around 51 companies witnessed subscription rates of more than 100 times. Further, the SME IPO index provided investors with a staggering 95 per cent return, FYERS Research said in its report. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-mobile-phones-in-india-in-2024/slidelist/106244996.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/upcoming-new-mobile-phones-in-india-in-2024/slidelist/106244996.cms" target="_blank">Apple vs Samsung vs OnePlus and more – Upcoming smartphones launching in India in 2024</a><a href="https://www.businessinsider.in/business/webstories/top-10-richest-people-in-the-world-in-2023/slidelist/106204146.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/top-10-richest-people-in-the-world-in-2023/slidelist/106204146.cms" target="_blank">Elon Musk to Warren Buffett – the top 10 richest people in the world</a><a href="https://www.businessinsider.in/tech/mobile/webstories/redmi-note-12-to-moto-g84-the-most-popular-smartphones-in-2023-under-20000/slidelist/106183118.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/redmi-note-12-to-moto-g84-the-most-popular-smartphones-in-2023-under-20000/slidelist/106183118.cms" target="_blank">Redmi Note 12 to Moto G84 – The most popular smartphones in 2023 under ₹20,000</a>

Main-board IPOs weather global headwinds, collect Rs 52,000-cr in 2023

<ul><li>Doms has 12% market share in India’s branded stationery and art material market.</li><li>Recently listed stationery players Flair and Cello World gave good listing gains.</li><li>The grey market expects 61% listing gains from Doms. </li></ul>Few school-going children and their parents would be unaware of Doms. The high recall value and its dominant market position will help the ₹1,200 crore public offer is expected to sail through easily, say experts. Stationery makers Flair and Cello World recently made their successful market debuts providing 49% and 22% listing gains respectively. The IPO of Doms, India’s second largest branded stationery and art products maker, will only be better, say experts. “Neither of them are in a dominant position in the market. Doms in a different league altogether. Its distribution is good, and has shown a phenomenal growth since the Covid pandemic and its fundamentals are in place,” <keyword id="127547" type="General" weightage="50" keywordseo="arun-kejriwal" source="Orion">Arun Kejriwal</keyword>, founder at Kejriwal Research &amp; Investment Services, tells Business Insider India. A wide range of products The company sells scholastic stationery, art material, paper stationery, office supplies and more. It had around 12% market share in branded stationery and art materials market in FY23. Its core products such as pencils and ‘mathematical instrument boxes’ enjoy 29% and 30% market share by value in FY23. “They have the widest breadth of product categories amongst their peers in India. Their presence across multiple categories and price points has enabled them to be the fastest growing such company in terms of revenue,” said a report by Anand Rathi which gives it a ‘subscribe for long-term’ rating. Its listed peers in the market are <keyword id="1889881" type="General" weightage="50" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>, Linc and Pidilite Industries. Kejriwal too says that the company is focussed on growth. “Based on interactions with the management, they seem focussed on growing volumes and expanding the business,” he adds. The grey market too is placing its bets on the company, as it expects 61% listing gains from the stock. Experts say that this is because only 10% of the offer is earmarked for retail investors, and a lot of people are expected to apply for the issue. The issue will open on December 13 and close on December 15, and has fixed a price band of ₹750-790 per share. The post-Covid turnaround The company posted losses in FY21 due to Covid-19 related lockdown, which resulted in the closure of domestic and export markets, especially educational institutions, offices and workplaces and retail outlets. Ever since, however, it has shown a steady growth. Its revenue from operations grew at a CAGR of 73.45% from FY21 to FY23. Its EBITDA margin more than doubled from 7.45% to 15.4% over FY21 to FY23, the company said in its DRHP. <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;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,211 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;">₹683 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;">₹402 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;">PAT </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;">₹102 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;">₹17 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;">(₹6 crore) </td></tr></tbody></table>Source: DRHP A wide distribution Doms operates 14 manufacturing facilities in Gujarat and <keyword id="18509534" type="General" weightage="50" keywordseo="bari-brahma" source="Orion">Bari Brahma</keyword> in Jammu and Kashmir. It intends to use the net proceeds from the fresh issue to set-up a new manufacturing facility in addition to general corporate purposes. It also has a wide reach and a strong domestic distribution network of over 120 super-stockists, and 4,000 distributors along with a dedicated sales team of over 500 personnel covering more than 120,000 retail touch points over 3,500 cities and towns. It is also expanding internationally and has forged a joint venture with Italian multinational company FILA. It gives them access to international markets, and also augments their R&amp;D and technological capabilities. “Their symbiotic association with FILA, based on mutual synergies, has resulted in expansion of their international footprint in key American and European markets and has helped in the global distribution of ‘Doms’ brand,” said a report by Axis Capital. They also have an exclusive tie-up with certain entities of the FILA Group, for distribution and marketing for all categories of their respective products, under their name and trademark, in India, Nepal, Bhutan, Sri Lanka, Bangladesh, Myanmar, and Maldives. Rooted firmly in its home market, it’s eyeing exports with a focus on backward integration to drive efficiencies. All of it makes Doms a long-term bet, say analysts. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a> <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-stock-doubles-investor-money-on-debut/articleshow/105609598.cms">Va va vroom: Tata Technologies stock doubles investor money on debut</a>

Child’s Play: High recall and dominant position add to Doms’ appeal

<ul><li>The company makes and markets the Flair brand of pens, with rights to brands like <keyword id="2099374" type="General" weightage="50" keywordseo="hauser" source="Orion">Hauser</keyword> and <keyword id="116476" type="General" weightage="50" keywordseo="pierre-cardin" source="Orion">Pierre Cardin</keyword>.</li><li>It intends to raise as much as ₹593 crore via the public issue.</li><li>Net proceeds from the issue will be to set-up a new facility in Valsad, amongst others. </li></ul>Mumbai-based stationery maker Flair Writing opens its initial public offer (IPO) for subscription on November 22, and closes on November 24. It has fixed a price band of ₹288-304 for the issue, and intends to raise as much as ₹593 crore via the issue. Investors can bid for a minimum of 49 equity shares and in multiples thereof. The company which manufactures and sells Flair brand of pens, also acquired rights to international brands like Hauser and Pierre Cardin’s writing instruments. Its products currently reach 3.15 lakh wholesalers and retailers. It’s also charting an expansion strategy, and is also expanding its manufacturing capacities. It’s also venturing into houseware and other school and office supplies. “We also seek to focus on growing our existing product portfolio and diversification of our product range, emphasise on mid-premium segment and premium segment to increase margins, continue to increase production capacity and enhance capacity utilization, strategically expand exports, deepen our sales and distribution network and further strengthen our brands,” the company said in its RHP. It’s also setting its sights on increased exports. The company has a market share of 7.1% in the export of writing and creative instruments industry in FY23. It’s expecting to gain from the China +1 strategy adopted by many international companies. “We have received feedback from many international OEMs to make vacuum bottles and more such. It’s a good business which can add to our topline and bottomline both,” Sumit Rathod, whole time director at Flair Writing Industries told Business Insider India. The issue comprises fresh issue to the tune of ₹292 crore; and an offer for sale of ₹301 crore. The net proceeds from the fresh issue will be used to set-up a new manufacturing facility for writing instruments in Valsad, Gujarat. It will use the rest to fund capex; working capital requirements, loan payment and more. Financials &amp; risk factors The company’s revenues have been growing at a compounded annual growth rate (CAGR) of 22.85% from FY21 to FY23. “We have been consistently growing and outperforming the market. We are confident that we will be able to keep up with the growth rates seen historically,” said Rathod. Its net profit almost doubled in FY23 as compared to the year before. “In FY23, the company’s operating margin moved upward as EBITDA margins increased 300 basis points and stood at 19.47% versus 16.9% on a YoY basis,” said a report by Kunvarji Wealth Solutions which gave a ‘subscribe’ rating to the IPO. The company’s peers in the market include the recently listed Cello World, Linc and <keyword id="1889881" type="General" weightage="50" keywordseo="kokuyo-camlin" source="Orion">Kokuyo Camlin</keyword>. <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;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹942 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;">₹577 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;">₹297 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹118 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;">₹55 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;">₹98 lakh </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: RHP Plant shutdowns, its inability to carry through its expansion plans, labour unrests, regulatory and other issues have been cited by the company as risk factors in its RHP. It also adds that increased competition could have a material impact on its business. In FY23, the market share of organized players in the writing instrument space is around 78-80% with the rest being catered to by unorganized players, according to CRISIL. “At times, retailers offer products from local manufacturers or unbranded items at lower prices or in ‘combo-offers’ with 45 other stationery items. Our inability to adequately address competitive pressures from the organized and unorganized players, may have a material adverse effect on our business, operations, prospects or financial results,” the company said in its RHP. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-ipo-to-open-on-november-22-price-band-fixed-at-475-500/articleshow/105261065.cms">Tata Technologies IPO to open on November 22, price band fixed at ₹475-500</a> <a href="https://www.businessinsider.in/stock-market/news/ireda-ipo-to-open-on-november-21-price-band-fixed-at-30-32/share/articleshow/105263776.cms">IREDA IPO to open on November 21, price band fixed at ₹30-32/share</a> <a href="https://www.businessinsider.in/stock-market/news/fedbank-financial-services-ipo-to-open-on-november-22-price-band-fixed-at-133-140/sh/articleshow/105292752.cms">Fedbank Financial Services IPO to open on November 22; price band fixed at ₹133-140/sh</a>

Flair Writing hopes to gain from the China +1 strategy

<ul><li>The stock listed at ₹71.9 as compared to its issue price of ₹60.</li><li>The issue was subscribed 73x with good interest from institutional investors.</li><li>It intends to use the net proceeds to augment its tier-1 capital base and more. </li></ul>ESAF Small Finance Bank made its D-street debut at a 20% premium on Friday. This is lower than what the grey market had predicted, which was expecting 33% listing gains. The stock closed at ₹69.05 per share, slightly below its listing price, ending at a premium of 15.08% over the IPO price. The stock listed at ₹71.9 per share as compared to its issue price of ₹60. Its market cap is ₹3,701 crore according to Bombay Stock Exchange. Prashanth Tapse, senior VP of research at Mehta Equities had pegged the listing gains anywhere between 20-30%. “We believe the premium listing is justified on the back of investor friendly pricing and reasonably IPO valuations when compared to peers. Hence we recommend allotted investors to look for booking profits and post listing we expect limited upside,” he added. The ₹463 crore issue was subscribed 73 times the shares on offer with outsized interest from qualified institutional buyers (QIBs). This quota was subscribed a whopping 173 times. It also received good interest from non-institutional and retail investors. It has raised ₹135.15 crore from anchor investors, like BNP Paribas Arbitrage, Kotak Mahindra Life Insurance, Edelweiss Tokio Life Insurance, ICICI Prudential Life Insurance and more. The listing performance of recent D-street debuts have been mixed. The last issue to list Mamaearth parent Honasa Consumer gave muted 4% listing gains but Cello World gave a good 22% gains. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Honasa Consumer </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plaza Wires </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr></tbody><tbody></tbody></table> ESAF SFB fixed a price band of ₹57-₹60 per equity share for its issue. The IPO is a combination of fresh issue and offer for sale, and intends to use the net proceeds from fresh issue to augment its Tier – I capital base and meet future capital requirements. ESAF SFB has 700 banking outlets, 559 ATMs across 21 states and two union territories. Its primary products include advances and deposits. It mainly focuses on rural and semi-urban banking franchises. It provides MSME loans, agricultural loan business and retail loan business. Its deposits grew from ₹89,994.26 million to ₹146,656.25 million between FY21-23 registering a compounded annual growth rate (CAGR) of 27.66%. Its CASA ratio dropped from 22.84% in FY22 to 21.39% in FY23. Its gross NPA (non performing assets) and net NPA stood at 2.49% and 1.13% respectively in Q1FY24. Despite having a nationwide presence, the bank's primary business operations are concentrated in South India, specifically in the states of Kerala and Tamil Nadu. “As of now, its operations are limited to South India with a lower presence in North India. Hike in RBI’s interest rate will result in compression of NIMs (net interest margins) from current levels. Increase in stress on assets specially on small ticket items will affect the future cash flows which will lead to increase in NPA,” said a report by Religare elucidating its key risks.

ESAF Small Finance Bank lists at 20% premium but below grey market expectations

<ul><li>The stock listed at ₹334 as compared to its issue price of ₹324.</li><li>The grey market was expecting 9% listing gains from the stock.</li><li>Its marketcap is at ₹10,424 crore as per Bombay Stock Exchange. </li></ul>Mamaearth’s parent Honasa Consumer made its D-street debut at a 3% premium on Tuesday morning. The stock listed at ₹334 as compared to its issue price on BSE. The stock gained during the trading session, and closed the debut day with 4% listing gains. The grey market is expecting 9% listing gains from the stock. Analysts pegged its listing price to be anywhere between ₹314-344. Its marketcap is at ₹10,424 crore as per Bombay Stock Exchange. Honasa’s initial public offer was subscribed 7.6 times the shares on offer – with good interest from institutional investors. But its retail book was just about fully subscribed with 1.3 times over the shares on offer. The company raised as much as ₹765 crore from the anchor investors ahead of its IPO. Some of its investors include Abu Dhabi Investment Authority (ADIA), Goldman Sachs Singapore and more. The listing of Honasa will be seen as an acid test for D2C companies in the public markets. On other hand, the listing gains of most IPOs have also tapered out with D-street giving mixed listing gains amidst volatile markets. Here are the listing gains of the last few market debuts. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plaza Wires </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updater Services </td><td style="border-left:solid #000000 0.9999974999999999pt;border-right:solid #000000 0.9999974999999999pt;border-bottom:solid #000000 0.9999974999999999pt;border-top:solid #000000 0.9999974999999999pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.3% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Might face post-listing challenges say analysts A D2C company going public is a new IPO theme, but it’s also an acid test for such businesses in the public markets. Honasa is one of the first-movers in the sector, and grew at a breakneck speed of 80% compounded annual growth rate (CAGR) for the last two years. In the crowded online BPC market, it managed to gain a market share of 5.4%, as per Redseer. In addition to its flagship Mamaearth brand, it expanded its portfolio by incubating three brands and acquiring two more. It now has The Derma Co, Aqualogica, Ayuga, Dr Sheth’s and BBlunt (salons and products) – all catering to the new-age Indians who love tailor-made products. Its ad expenses stood at 34.99% of its revenue from operations as of June end. Experts say that it’s normal for a D2C company like itself. A large chunk of the net proceeds raised from the fresh issue will go towards ad expenses. It intends to spend more towards physical presence like more EBOs and BBlunt salons. “As the brand scales, the company is looking to connect consumers offline. A large part of the revenue decline is concentrated in its D2C website and app, where CAC (customer acquisition cost) is considerably high. As consumers shift to the offline mode, CAC needs will also reduce,” said a report by Emkay. What’s in it for the investors? The IPO is a combination of fresh issue and offer-for-sale (OFS). But the size of the fresh issue is much smaller than the OFS by promoters and other selling shareholders who will take a lion’s share of the intended fundraise of ₹1,701 crore. “New investors should be cautious as the IPO includes fresh share issuance of ₹365 crore and a low promoter stake of 37.41%. Conservative investors may wait and watch, while risk-takers can consider long-term investment for potential growth. However, the IPO appears to be overvalued in the current market conditions, and historical listings with high valuations have often faced post-listing challenges,” opines Prashanth Tapse, senior VP of research at Mehta Equities.

Mamaearth parent, Honasa Consumer gives 4% listing gains on debut day

<ul><li>The stock closed at ₹59 as compared to the issue price of ₹32 on opening day.</li><li>The grey market was expecting 31% listing gains from the stock.</li><li>The market cap of the company is at ₹11,920 crore, according to Bombay Stock Exchange. </li></ul>State-run green financier IREDA’s stock made a dream debut on the bourses, providing its investors with 87% listing gains. It became one of the most successful PSU market debuts, second only to IRCTC’s stellar debut of over 100% listing gains. IREDA’s stock closed at ₹59 after gaining through the day – beating grey market expectations of 31% listing gains — by a large margin. The market cap of the company stood at ₹16,123 crore, according to Bombay Stock Exchange. Its ₹2,150 crore initial public offer (IPO) was subscribed 38.8 times the shares on offer, with substantial interest from institutional investors. The qualified institutional buyer (QIB) portion was subscribed 104 times. Due to the high number of applications, investors who missed the IPO allotment scrambled for the stock on listing day. “We believe post listing there would be decent demand for the shares as it had received overwhelming response from all kinds of investors especially from long term funds. while those who failed to get allotments can accumulate on every dip for holding it for healthy long term returns as markets always reward a player who has high visibility and growth potential,” said Prashanth Tapse, senior VP of research at Mehta Equities. The last few market debuts saw mixed results ranging from muted debuts to sharp listing gains. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">ASK Automotive </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">10% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">ESAF Small Finance Bank </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">15% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Honasa Consumer </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr></thead><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> ‘Potential to upgrade to a Navratna’ IREDA is positioned as India's largest green financing NBFC. It has over 36 years of experience in promoting, developing and extending financial assistance for new and renewable energy projects. It also serves energy efficiency and conservation projects. Tapse says that IREDA has the potential to upgrade to a Navratna company. “The NBFC's financial autonomy is expected to boost its competitive edge,” he adds. The public financing institution (PFI) intends to use the net proceeds from the fresh issue towards augmenting its capital base to meet future capital requirements and onward lending. It provides financial products and related services, from project conceptualisation to post-commissioning, for and other value chain activities like equipment manufacturing and transmission. As of September 30, 2023, it had a diversified portfolio of term loan outstanding amounting to ₹47,514 crore. Its revenue from operations grew 24% in FY23, as compared to the year before. Its net profit grew 36% during the same period. Its capital to risk-weighted asset ratio (CRAR) stood at 18.8% for FY23. Its gross non-performing assets (NPA) stood at 3.21% by the end of FY23. SEE ALSO <a href="https://www.businessinsider.in/policy/economy/news/rupee-hits-a-new-low-in-november-despite-fall-in-dollar-index/articleshow/105551439.cms">Rupee hits a new low in November despite fall in dollar index</a> <a href="https://www.businessinsider.in/stock-market/news/november-rain-for-primary-market-great-ipo-party-helps-companies-mop-up-of-1-5-lakh-crore/articleshow/105470997.cms">November Rain For Primary Market: Great IPO party helps companies mop up ₹1.5 lakh crore</a>

Dream debut: IREDA’s stock zooms ahead with 87.4% listing gains

Chip maker <keyword id="28115" type="General" weightage="20" keywordseo="intel" source="Orion">Intel</keyword> on Friday announced its collaboration with eight domestic Electronics Manufacturing Services (EMS) companies and Original Design Manufacturers (ODMs) to accelerate manufacturing of "Make-in-India" laptops. The companies Intel has collaborated with include Bhagwati Products Ltd, Dixon Technologies India Ltd, Kaynes Technology India Ltd, Optiemus Electronics Ltd, Panache Digilife Ltd, Smile Electronics Ltd, Syrma SGS Technology Ltd, and VVDN Technologies Private Ltd. This initiative underscores Intel's dedication to accelerate technology-led growth in alignment with the <keyword id="6354869" type="General" weightage="20" keywordseo="make-in-india" source="Orion">Make in India</keyword> initiative. "I am very pleased that global organisations like Intel are partnering with India, helping to build and catalyse the electronics manufacturing ecosystem for laptops and compute," Rajeev Chandrasekhar, Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship, said in a statement. "This aligns with Prime Minister Narendra Modi's vision to drive India's Digital Economy to $1 trillion and enable the electronics manufacturing ecosystem to contribute $300 billion by 2025-26," he added. Under this collaboration, Intel shared its expertise to facilitate the production of complete entry-level laptops in India, which included utilising state-of-the-art SMT lines, setting up a quality control process for components and even benchmarking of finished products. The chip maker also provided support to ODMs spanning both <keyword id="19375174" type="General" weightage="50" keywordseo="semi-knocked-down" source="Orion">Semi Knocked Down</keyword> (SKD) and Completely Knocked Down (CKD) processes. "By enabling the laptop manufacturing process -- from surface mount technology assembly to finished product -- we are not only meeting the demands of the Make in India initiative but also contributing to the technological progress of the nation," said Santhosh Viswanathan, VP &amp; MD, India Region, Intel. In addition, Intel will be hosting the India Tech Ecosystem Summit later in November, bringing together a vast number of local manufacturers to showcase a much larger portfolio of devices being made in India. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank">Cello World IPO allotment – how to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/sports/webstories/biggest-margin-wins-for-india-in-odis/slidelist/104934176.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/biggest-margin-wins-for-india-in-odis/slidelist/104934176.cms" target="_blank">Biggest margin wins for the Men in Blue in ODIs – from Sri Lanka to Pakistan</a> <a href="https://www.businessinsider.in/tech/gadgets/news/hp-omen-16-gaming-laptop-review/articleshow/104945732.cms">HP Omen 16 laptop review – A powerful laptop with a fine display</a>

Intel partners with eight domestic manufacturers for 'Make in India' laptops

Tesla CEO <keyword id="6355315" type="General" weightage="50" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> on Thursday held a discussion with UK Prime Minister <keyword id="221875" type="General" weightage="50" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> at the inaugural AI Safety Summit, and declared artificial intelligence as "one of the most disruptive forces in history", CNN reported. "AI will be a force for good most likely," <keyword id="364027" type="General" weightage="100" keywordseo="musk" source="Orion">Musk</keyword> said. "But the probability of it going bad is not zero per cent." Sunak and Musk spoke in an interview-style chat from a stage at Lancaster House, a government venue in central London often used for diplomatic purposes, before the conversation was opened up to questions from journalists. The conversation was then posted for streaming on Musk's personal account on X, the social media site formerly known as Twitter that he owns. Musk was present throughout the two-day event, along with US Vice President <keyword id="180909" type="General" weightage="50" keywordseo="kamala-harris" source="Orion">Kamala Harris</keyword>, OpenAI CEO <keyword id="257641" type="General" weightage="50" keywordseo="sam-altman" source="Orion">Sam Altman</keyword>, and other notable politicians and global tech leaders. Chinese officials were also present at the event. "I'm glad to see at this point that people are taking AI seriously," Musk said to Sunak on Thursday. "Thanks for this summit. I think it will go down in history as quite important," CNN quoted him as saying. Musk also unpacked several predictions for AI, including a future where no jobs would be necessary and AI companionship would be one of the highest forms of friendship. Meanwhile, in the first day of his AI event, more than 25 countries and the European Union signed the Bletchley Declaration, agreeing to work together to create a united approach to oversight in efforts to deploy AI technology in a "human-centric, trustworthy and responsible" way, underscoring the "potential for serious, even catastrophic, harm" that many tech leaders have expressed concern over, CNN reported. Sunak and Musk discussed how digital super-intelligence could affect the public and require regulation in the same way industries such as aviation and cars require regulation. "I agree with the vast majority of regulations," Musk said. "A referee is a good thing". Musk also noted that if the AI powerhouses such as the US and the UK "are aligned on AI safety, that is a good thing." He also suggested other global powers such as China should also remain involved in discussions, according to CNN. Musk further reiterated his "fairly utopian" belief that AI could create an "age of abundance" with "no shortage of goods and services." He said that AI could lead to a future where "no job is needed" and people enjoy a universal high income. He mentioned a world of AI tutors and companionship for people like his son who has learning disabilities and difficulty making friends, CNN reported. The next AI safety summits are set to be hosted by Korea and France and are scheduled for 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank">Cello World IPO allotment – how to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a> <a href="https://www.businessinsider.in/tech/mobile/news/india-q3-smartphone-shipments-apple-gains-34-pc-market-share-in-india/articleshow/104907807.cms">Smartphone shipments: Apple gains 34% market share in India as Samsung, Xiaomi decline</a>

UK: Elon Musk discusses AI risks with Rishi Sunak, calls its "one of most disruptive forces in history"

Cash-strapped Pakistan and the <keyword id="6355408" type="General" weightage="80" keywordseo="imf" source="Orion">IMF</keyword> have kicked off the much-awaited loan review talks for the release of the USD 710 million second tranche of a USD 3 billion bailout package on a generally positive note. Caretaker Finance Minister Dr Shamshad Akhtar and the International Monetary Fund's (IMF) mission chief for Pakistan, <keyword id="14447716" type="General" weightage="50" keywordseo="nathan-porter" source="Orion">Nathan Porter</keyword>, led their sides to the opening round of two-week-long negotiations to discuss the next tranche based on Pakistan's performance in the first quarter that started in July. Porter "appreciated the government's commitment" to meeting the first-quarter targets, the Ministry of Finance said in a statement after the meeting, which has set the stage for a deep dive into forward-looking reforms under a nine-month bailout package, slated to be completed in March next year. He also "commended the government's efforts and measures taken in some critical areas" and underscored the importance of continuing these efforts to stay on track for ensuring the country's economic stability, the ministry said. According to The Express Tribune newspaper, Porter inquired the Pakistani authorities about the next general elections and the functioning of the <keyword id="18202562" type="General" weightage="50" keywordseo="special-investment-facilitation-council" source="Orion">Special Investment Facilitation Council</keyword> -- the two most crucial issues that affected the country's political and economic landscapes. Hours after the IMF-Pakistan opening session on Thursday, it was announced that Pakistan's general elections will be held on February 8, ending uncertainty over the much-awaited polls in the cash-strapped country. The announcement came after the election commission officials met President Arif Alvi at the directives of the Supreme Court. The clarity on the election date will strengthen the hands of the Ministry of Finance during the negotiations, although the IMF has not explicitly attached any such condition. The meeting was attended by IMF's resident representative in Islamabad, <keyword id="19370273" type="General" weightage="50" keywordseo="esther-perez" source="Orion">Esther Perez</keyword> Ruiz, State Bank Governor Jameel Ahmed, Federal Board of Revenue (FBR) Chairman Amjed Zubair Tiwana, Securities and Exchange Commission of Pakistan Chairman Akif Saeed, Finance Secretary Imdadullah Bosal, senior finance ministry officials and several IMF delegates. Akhtar reported Pakistan's official position on the progress made so far on the USD 3 billion short-term loan agreement - called the Standby Arrangement (SBA) - and explained the fiscal measures being taken to improve the economic situation, according to the Dawn newspaper. These measures included a tight control on expenditures, both in terms of restricting the development programme and reducing subsidies and provincial fiscal controls, more than the programme's requirements for the first quarter of the fiscal year, resulting in higher-than-targeted primary surplus and non-revenue collections. The finance minister and other members of her team also held discussions with the visiting team on overall comprehensive reforms and the measures undertaken by the FBR, resulting in higher-than-targeted revenue collections, not only at the end of the first quarter but even in October, the first month of the second quarter. During the review talks, the government team also generally updated the IMF's mission chief on the latest situation on the power sector's circular debt, which was also in line with the indicative targets, as the consumer-end tariff had been rebased in July, as required under the structural benchmark. The IMF team was also updated on the government's strategies to address the circular debt issue as agreed under the SBA, both in the power and gas sectors, particularly the recent decisions for a massive increase in natural gas tariff to a level that there would be no circular debt addition during the current fiscal year. Also, the petroleum development levy targets for the first quarter had not only been achieved but had now exceeded the indicative target for the entire fiscal to achieve an average of Rs 55 per litre levy on petrol and diesel, as its rate had been increased to Rs 60 for both products in the second quarter to help create a cushion for any possible fiscal slippage for unseen factors, the government told the IMF. Sources said the targets on Net International Reserves (NIR) of the central bank were also generally in line with the first-quarter target of negative USD 14.55 billion, but the second-quarter target of negative USD 13.8 billion NIR could be a challenge, as total disbursements from multilateral and bilateral sources in the first half of the year are targeted at USD 12.2 billion, including USD 5.45 billion in the first quarter and USD 6.73 billion in the second. Officials said the technical-level discussions with relevant ministries and agencies would begin on Friday, resume on Monday and continue throughout the following week. During the next week, the IMF team would engage with power and petroleum divisions - being the main areas of past failures and rising fiscal slippages - the FBR, the SBP and key state-owned enterprises besides officials of the Benazir Income Support Programme. Based on these technical discussions, the two sides are expected to take a break over the weekend and start a policy-level dialogue before wrapping up the review on November 16. The critical discussions would remain on structural reforms, mainly in the State Owned Enterprises (SOEs), quarterly national accounts and climate-related public investment management assessment action plans. Finance Minister Akhtar also reaffirmed the government's commitment to working closely with the IMF to ensure the successful completion of the SBA and achieve economic objectives, according to the report. While approving the USD 3 billion loan in July this year, the Washington-based global lender had also released the first tranche of USD 1.2 billion. Although essentially a bridge loan, it offered much respite to Pakistan, battling an acute balance of payments crisis and falling foreign exchange reserves. Pakistan's shaken economy has compelled it to approach several nations seeking fiscal help through loans. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/cello-world-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/104916153.cms" target="_blank">Cello World IPO allotment – how to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/sports/webstories/biggest-margin-wins-for-india-in-odis/slidelist/104934176.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/biggest-margin-wins-for-india-in-odis/slidelist/104934176.cms" target="_blank">Biggest margin wins for the Men in Blue in ODIs – from Sri Lanka to Pakistan</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a>

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Cello World IPO allotment – how to check allotment, GMP, listing date and more

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Mamaearth parent, Honasa Consumer gives 4% listing gains on debut day

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