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<ul><li>Jyoti CNC IPO’s retail investor portion of the issue was subscribed 11x on the second day of the issue.</li><li>It’s a Gujarat based manufacturer of metal cutting computer numerical control (CNC) machines.</li><li>The entirely fresh issue intends to raise as much as ₹1,000 crore. </li></ul>The ₹1,000 crore initial public offer (IPO) of <keyword id="2201348" type="General" weightage="20" keywordseo="jyoti-cnc-automation" source="Orion">Jyoti CNC Automation</keyword> was subscribed 3.9 times the shares on offer, on the second day of the issue. The retail portion of the issue was subscribed 11 times over, while the non-institutional investor portion was subscribed 6.4 times. The company is a manufacturer of metal cutting computer numerical control (CNC) machines. It has raised ₹448 crore from 37 anchor investors ahead of opening the issue to the public. Some of its marquee investors are Nomura Funds Ireland, Goldman Sachs Funds, Bajaj Allianz Life Insurance Company, ICICI Prudential and more. <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;">0.22 </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;">6.49 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">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;">11.08 </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;">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;">3.92 </td></tr></tbody><tbody></tbody></table> Source: BSE Jyoti CNC Automation is the global leader in CNC machine manufacturing, commanding the third largest market share in India with 10% as of FY23. It’s the twelfth largest globally with 0.4% share in 2022. Some of its top clients include Space Applications Centre – ISRO, BrahMos, Turkish Aerospace, Tata Advanced System, Bharat Forge, Kalyani Technoforge and more. It has fixed a price band of ₹315-331 per equity share for its entirely fresh issue. Investors can bid for 45 equity shares and in multiples of 45 equity shares thereafter. The company intends to use proceeds from the issue towards working capital needs, loan payment, and for general corporate purposes. It has vertically integrated operations which they consider essential to their ability to provide technologically relevant and customized solutions. “Led by chairman and managing director, Parakramsinh Ghanshyamsinh Jadeja, their integrated approach across operations prioritizes customization, reduced delivery timelines, and robust after-sales support. Their pioneering '7th Sense' solution aligns with 'Industry 4.0', automating machine diagnostics for heightened productivity,” says a report by Ventura Securities. The 20-year old Gujarat based company has three facilities — two in Rajkot and one in Strasbourg, France, with a capacity of 4,400 machines per annum in India and 121 machines per annum in France. “We believe Jyoti CNC is poised to benefit from the ongoing capex cycle and should see healthy growth over the medium term owing to a strong order book,” says Indsec Securities which assigns a ‘subscribe’ rating to the IPO.

Jyoti CNC Automation IPO subscribed 3.9x on day 2

<ul><li>The basis for allotment for the IPO of <keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> will be announced today. </li><li>Investors who have applied for the IPO can check their allotment status on the registrar’s website or the BSE website. </li><li>The Craftsman Automation shares are expected to be listed on March 25. </li></ul>Craftsman Automation, the Coimbatore-based company has completed its ₹824 crore initial public offering (IPO). The company’s IPO received a decent response from investors and was subscribed 3.82 times. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Craftsman Automation IPO </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.21 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.84 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.41 </td><td style="border-left:solid #000000 0.9978225000000001pt;border-right:solid #000000 0.9978225000000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.46 </td></tr></tbody></table> Craftsman Automation was founded in 1986 in Coimbatore. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial and engineering. The <keyword id="10970225" type="UNKNOWN" weightage="20" keywordseo="craftsman-automation-ipo-allotment-status">Craftsman Automation IPO allotment status</keyword> is scheduled to be announced today, March 22. How to check Craftsman Automation allotment status? You can check the Craftsman Automation allotment status on the registrar’s website. <ul><li>To check the <keyword id="10970221" type="UNKNOWN" weightage="20" keywordseo="craftsman-automation-ipo-allotment">Craftsman Automation IPO allotment</keyword> status, visit the registrar’s website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>. </li><li>Click on ‘Select IPO’ and then select ‘Craftsman Automation’. </li><li>Now, enter either your PAN, application number or DP / Client ID. </li><li>Now, enter the captcha. </li><li>Click on submit. </li></ul>Now, you will be able to see your application status. It will show 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 allotment status on the Bombay Stock Exchange (BSE) website. To check on BSE website: <ul><li>To check <keyword id="10449692" type="UNKNOWN" weightage="20" keywordseo="Craftsman-Automation-IPO">Craftsman Automation IPO</keyword> allotment status on BSE or NSE website, go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a>. </li><li>On the website, click on 'Equity' and then from the dropdown, select ‘Craftsman Automation '. </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></ul>When will the Craftsman Automation shares be listed? The listing date for the allotted shares of Craftsman Automation has not been announced. It is expected that the shares will be listed on March 25. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-initial-public-offer-ipo-worth-581-crore-live-should-you-subscribe/articleshow/81543610.cms">Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/laxmi-organic-kicks-off-its-600-crore-ipo-should-you-subscribe/articleshow/81509655.cms">Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?</a>

Craftsman Automation IPO allotment live – how to check allotment, listing date and more

<ul><li><keyword id="267527" type="COMPANY" weightage="20" keywordseo="Craftsman-Automation">Craftsman Automation</keyword> has launched its ₹824 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹1,488-1,490, and each lot consists of 10 equity shares.</li><li>While some investment experts are bullish on the stock and suggest subscribing, others have pointed out certain risk factors.</li><li>This includes the risk posed by electric vehicles and supply chain shocks, among others.</li></ul>It’s raining initial public offers (IPO) this month, and the latest to join the list is the ₹824-crore <keyword id="10449692" type="UNKNOWN" weightage="20" keywordseo="Craftsman-Automation-IPO">Craftsman Automation IPO</keyword>. The Coimbatore-based company has kicked off its IPO today, March 15, with a price band of ₹1,488-1,490, netting you 10 shares per lot. The total IPO size is worth ₹824 crore, but Craftsman Automation has already secured ₹247 crore from anchor investors. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. <cmsannotation type="cmsannotation" annotationid="Understanding the business of Craftsman Automation" comment="subhead" text="Understanding the business of Craftsman Automation">Understanding the business of Craftsman Automation</cmsannotation> Craftsman Automation was founded in 1986 in Coimbatore. It has vertically integrated manufacturing capabilities and primarily caters to three business verticals – automotive-powertrain, automotive-aluminum, and industrial &amp; engineering. Craftsman is the leading player when it comes to machining of cylinder blocks and cylinder heads which are used in the commercial vehicles and construction equipment industries. It is also one of the top companies when it comes to supplying these parts in the tractor segment. Coming to the automotive-aluminum vertical, Craftsman has an array of processes in the high pressure, low pressure and gravity die casting for manufacturing auto components for passenger vehicles. In the industrial and engineering vertical, Craftsman builds aluminum products for power transmission, high-end precision products like gear boxes, marine engines and more. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Craftsman Automation" comment="subhead" text="Here are some of the clients of Craftsman Automation">Here are some of the clients of Craftsman Automation</cmsannotation> Craftsman Automation has an impressive list of clients that includes companies like Daimler India, Tata Motors, Ashok Leyland, Mahindra &amp; Mahindra, Escorts, John Deere, JCB India, TVS Motors, Royal Enfield among others. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">ICICI Direct </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Canara Bank Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Financial Services </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Craftsman Automation – strengths and risk factors" comment="subhead" text="Craftsman Automation – strengths and risk factors">Craftsman Automation – strengths and risk factors</cmsannotation> <cmsannotation type="cmsannotation" annotationid="Diversified engineering company" comment="subhead" text="Diversified engineering company">Diversified engineering company</cmsannotation> Craftsman is the largest player in the machining of cylinder blocks and cylinder heads used in commercial vehicles and construction industry. Apart from this, it also offers products in the passenger vehicle, power transmission, marine engine segments, among others. “Its diversification of revenue across multiple customers allows it to prevent any possible customer concentration in any of its business segments,” stated a report by SMC Global Securities dated March 10. <cmsannotation type="cmsannotation" annotationid="Strong in-house processes and designing capabilities" comment="subhead" text="Strong in-house processes and designing capabilities">Strong in-house processes and designing capabilities</cmsannotation> The SMC report further adds that Craftsman has a ‘strong focus’ on research and development. Its manufacturing automation teams integrate robots and gantry systems, which helps in ensuring consistent quality. The report notes that Craftsman’s design capability is unique amongst its competitors. <cmsannotation type="cmsannotation" annotationid="Impressive domestic and global clientele" comment="subhead" text="Impressive domestic and global clientele">Impressive domestic and global clientele</cmsannotation> Craftsman has a range of marquee clientele, both domestic as well as global. Some of the big domestic names include Tata Motors, Mahindra &amp; Mahindra, Ashok Leyland, TVS Motors, Royal Enfield and others. Global names in the list include the likes of John Deere, India subsidiaries of Daimler, JCB among others. <cmsannotation type="cmsannotation" annotationid="Improving margins despite challenging business environment" comment="subhead" text="Improving margins despite challenging business environment">Improving margins despite challenging business environment</cmsannotation> Despite a challenging business environment and falling revenues, Craftsman has been able to improve its earnings. While its revenues fell by nearly 18% from March 2019 to March 2020, its earnings before interest, tax, depreciation and amortisation (EBITDA) improved from 25.12% to 27.24%. EBITDA is a measure of the company’s financial performance. <cmsannotation type="cmsannotation" annotationid="Powertrain and allied components prone to electric vehicles risk" comment="subhead" text="Powertrain and allied components prone to electric vehicles risk">Powertrain and allied components prone to electric vehicles risk</cmsannotation> While Craftsman’s prowess in the powertrain segment adds heft to the company’s profile, powertrain components would be obsolete when the present internal combustion engine (ICE) based vehicles are replaced by electric vehicles (EVs). <cmsannotation type="cmsannotation" annotationid="Low aftermarket presence ties company’s fortunes to OEMs" comment="subhead" text="Low aftermarket presence ties company’s fortunes to OEMs">Low aftermarket presence ties company’s fortunes to OEMs</cmsannotation> Craftsman caters to original equipment manufacturers (OEMs) across its three business verticals. Some of these OEMs operate in industries like automotive, steel, cement among others, which are cyclical in nature. As such, the demand tapers off in some seasons, and since Craftsman directly serves OEMs, its fortunes are tied to those of the OEMs. <cmsannotation type="cmsannotation" annotationid="Limited long-term contracts, prone to supply chain risk" comment="subhead" text="Limited long-term contracts, prone to supply chain risk">Limited long-term contracts, prone to supply chain risk</cmsannotation> According to the ICICI Direct report dated March 12, Craftsman does not have any exclusive supply arrangements and purchases material on a spot order basis. This exposes the company to supply chain risks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoins-path-to-5-trillion-plus-the-markets-20-most-shorted-spacs-right-now/articleshow/81501083.cms">Bitcoin's path to $5 trillion, plus the market's 20 most-shorted SPACs right now</a> <a href="https://www.businessinsider.in/business/startups/news/tata-tryst-with-e-grocery-starts-with-a-billion-dollar-acquisition-of-bigbasket-heres-why-it-could-be-a-sweet-deal-for-both/articleshow/81478849.cms">Tata’s tryst with e-grocery starts with a billion dollar acquisition of BigBasket – here’s why it could be a sweet deal for both</a>

The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?

<ul><li>The basis of allotment for the ₹581 crore IPO of <keyword id="4241330" type="PERSON" weightage="20" keywordseo="suryoday-small-finance-bank">Suryoday Small Finance Bank</keyword> will be announced on March 24. </li><li>Suryoday Small Finance Bank is one of the leading small finance banks in terms of net interest margins, return on assets and yield. </li><li>Here’s how to check the <keyword id="10978509" type="UNKNOWN" weightage="20" keywordseo="suryoday-small-finance-bank-ipo-allotment">Suryoday Small Finance Bank IPO allotment</keyword> status. </li></ul>Suryoday Small Finance Bank is one of the latest to join the initial public offer (IPO) frenzy, allowing investors to subscribe to ₹581 crore worth equity shares. Although analysts recommended subscribing to the IPO, it received lukewarm reception, garnering a meagre 2.37 times subscription – mostly led by retail investors. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Suryoday Small Finance Bank IPO </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Employees </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1.31 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3.09 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">0.34 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2.37 </td></tr></tbody></table> “Suryoday Small Finance Bank (SSFB) is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in fiscal 2020,” a report by Axis Capital said. One of the measures to evaluate SSFB’s performance is yield-to-gross loan portfolio. This measures the bank’s ability to generate income such as interest, fees, and commissions from the loans it has issued. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Yield on Gross Loan Portfolio </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.41% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">20.93% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dec-20* </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.76% </td></tr></tbody></table> Note: *Data up to December 31, 2020. “SSFB has been growing tremendously since the conversion as an SFB and is currently in a robust financial position that will enable them to expand their business quickly,” stated a report by Anand Rathi Research. The bank has announced that it will use the proceeds of the IPO towards bolstering its Tier-1 capital base to meet future capital requirements. Tier-1 capital refers to the core capital of a bank that consists of equity shares and retained earnings. It is used to measure the bank’s financial strength and its capital adequacy. When will the Suryoday Small Finance Bank shares be listed? The listing date for the allotted shares of Suryoday Small Finance Bank is March 30. How to check <keyword id="10539050" type="UNKNOWN" weightage="20" keywordseo="Suryoday-Small-Finance-Bank-ipo">Suryoday Small Finance Bank IPO</keyword> allotment status If you were one of the subscribers to the Suryoday Small Finance Bank IPO, you can check the allotment status by following these steps: To check the Suryoday Small Finance Bank IPO allotment status on the registrar website: <ul><li>Visit the registrar’s website <a href="https://kcas.kfintech.com/ipostatus/">here</a>. </li><li>Click on ‘Select IPO’ and then select ‘Suryoday Small Finance Bank’. </li><li>Now, enter either your PAN, application number or DP / Client ID. </li><li>Now, enter the captcha. </li><li>Click on submit. </li></ul>Now, you will be able to see your application status. It will show the number of shares that you have applied for and the number of shares that have been allotted to you. To check on BSE website: To check Suryoday Small Finance Bank IPO allotment status on BSE or NSE website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a>.</li></ul><ul><li>On the website, click on 'Equity' and then from the dropdown, select ‘Suryoday Small Finance Bank’. </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></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-craftsman-automation-ipo-allotment-status/articleshow/81625011.cms">Craftsman Automation IPO allotment live – how to check allotment, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-9-pro-oneplus-9-and-oneplus-watch-to-launch-in-india-today-how-to-watch-live-stream-price-features-and-more/articleshow/81644503.cms">OnePlus 9 Pro, OnePlus 9 and OnePlus Watch to launch in India today – How to watch live stream, price, features and more</a>

Suryoday Small Finance Bank IPO allotment live – how to check allotment, listing date and more

<ul><li><keyword id="4241330" type="PERSON" weightage="20" keywordseo="suryoday-small-finance-bank">Suryoday Small Finance Bank</keyword> initial public offer (IPO) worth ₹581 crore has gone live today, and it will be open for subscription till March 19.</li><li>The price band is fixed at ₹303-305, and each lot consists of 49 equity shares.</li><li>Analysts are bullish on the bank, pointing to its strong credit processes, strong financial performance and cost-efficient operations.</li><li>The bank has proposed to use the proceeds of the IPO towards boosting its Tier-1 capital base to meet future capital requirements.</li></ul>Suryoday Small Finance Bank (SSFB) has kicked off its initial public offer (IPO) worth ₹581 crore today, March 17. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others that went public this year. The <keyword id="10539050" type="UNKNOWN" weightage="20" keywordseo="Suryoday-Small-Finance-Bank-ipo">Suryoday Small Finance Bank IPO</keyword> is now open and will be live till March 19, with a price band of ₹303-305. Each lot consists of 49 shares. A total of 1.9 crore shares are available for subscription in the IPO. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. The proceeds of the IPO are proposed to be used for boosting the bank’s Tier-1 capital base to meet future capital requirements. Tier-1 capital refers to the core capital of a bank that consists of equity shares and retained earnings. It is used to measure the bank’s financial strength and its capital adequacy. Analysts are mostly bullish on the IPO. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/analyst </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">LKP Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dilip Davda </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe at own risk </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Marwadi Shares and Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> “Suryoday Small Finance Bank is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in fiscal 2020,” a report by Axis Capital said. One of the measures to evaluate SSFB’s performance is yield to gross loan portfolio. This measures the bank’s ability to generate income such as interest, fees, and commissions from the loans it has issued. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Yield on Gross Loan Portfolio </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.41% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">21.78% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mar-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">20.93% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dec-20* </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19.76% </td></tr></tbody></table> Source: Axis Capital Note: *Data up to December 31, 2020. “SSFB has been growing tremendously since the conversion as an SFB and is currently in a robust financial position that will enable them to expand their business quickly,” stated a report by Anand Rathi Research. <cmsannotation type="cmsannotation" annotationid="What is the business of Suryoday Small Finance Bank?" comment="subhead" text="What is the business of Suryoday Small Finance Bank?">What is the business of Suryoday Small Finance Bank?</cmsannotation> SSFB currently provides a wide range of products and services, including housing loans, commercial vehicle loans, micro business loans, unsecured micro and small enterprise loans, among others. Explaining the extent of SSFB’s operations, a HDFC Securities reported states, “As of December 31, 2020, SSFBL’s customer base was 1.44 million and its employee base comprised 4,770 employees and it operated 554 Banking Outlets including 153 Unbanked Rural Centres.” SSFB commenced its microfinance operations in 2009. It received the small finance bank (SFB) licence from the Reserve Bank of India (RBI) in 2016. Prior to getting approval to operate as a small finance bank from the Reserve Bank of India, SSFB operated as a non-banking finance corporation and offered small ticket-size loans to women from weaker sections of the society. SSFB serves customers in the unbanked and underbanked categories. It has been serving these segments for over a decade now. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/laxmi-organic-kicks-off-its-600-crore-ipo-should-you-subscribe/articleshow/81509655.cms">Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a>

Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?

<ul><li>The basis for <keyword id="60197" type="PERSON" weightage="20" keywordseo="Allotment">allotment</keyword> for the IPO of EaseMyTrip has been announced.</li><li>The shares are expected to be listed on March 19.</li><li>Investors can check the allotment status on the registrar’s website and the BSE website.</li></ul>EaseMyTrip, India’s second-largest online travel agency has completed its ₹510 crore initial public offering (IPO). The IPO received a good response from the investors, and it was subscribed 159.33 times the offer value. The allotment details have been announced and users can now check if they have got shares against their application. The online travel agency (OTA) offers a range of products and services for end-to-end travel solutions, from airline tickets to rail tickets and bus tickets to taxis, holiday packages, hotels, and much more. <cmsannotation type="cmsannotation" annotationid="How to check EaseMyTrip allotment status?" comment="subhead" text="How to check EaseMyTrip allotment status?">How to check EaseMyTrip allotment status?</cmsannotation> You can check the EaseMyTrip allotment status on the registrar’s website. <ul><li>To check the <keyword id="10944235" type="UNKNOWN" weightage="20" keywordseo="easemytrip-ipo-allotment">EaseMyTrip IPO allotment</keyword> status, visit the registrar’s website <a href="https://kcas.kfintech.com/ipostatus/">here</a>.</li><li>Click on ‘Select IPO’ and then select ‘Easy Trip Planners Ltd’.</li><li>Now, enter either your PAN, application number or DP / Client ID.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>Now, you will be able to see your application status. It will show 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 allotment status on the Bombay Stock Exchange (BSE) website. To check on BSE website: <ul><li>To check <keyword id="8432862" type="UNKNOWN" weightage="20" keywordseo="EaseMyTrip-IPO">EaseMyTrip IPO</keyword> allotment status on BSE or NSE website, go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a>.</li><li>On the website, click on 'Equity' and then from the dropdown, select Easy Trip Planners Ltd'.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. <cmsannotation type="cmsannotation" annotationid="When will the EaseMyTrip shares be listed?" comment="subhead" text="When will the EaseMyTrip shares be listed?">When will the EaseMyTrip shares be listed?</cmsannotation> The listing date for the allotted shares of EaseMyTrip has not been announced. It is expected that the shares will be listed on March 19. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-initial-public-offer-ipo-worth-581-crore-live-should-you-subscribe/articleshow/81543610.cms">Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a> <a href="https://www.businessinsider.in/stock-market/news/laxmi-organic-kicks-off-its-600-crore-ipo-should-you-subscribe/articleshow/81509655.cms">Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a>

EaseMyTrip IPO allotment live – how to check allotment, listing date and more

<ul><li><keyword id="10930883" type="COMPANY" weightage="20" keywordseo="laxmi-organic">Laxmi Organic</keyword> has launched its ₹600 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹129-130, and each lot consists of 115 equity shares.</li><li>Analysts are bullish on the company, pointing out its strengths and strategic measures undertaken.</li><li>The company has proposed to use the proceeds of the IPO towards capital expenditure for setting up new facilities and expanding its capacities.</li></ul> Laxmi Organic has kicked off its initial public offer (IPO) worth ₹600 crore today, March 15. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others. Laxmi Organic Industries Ltd’s initial share sale is now open and will be live till March 17, with a price band of ₹129-130. Each lot consists of 115 shares. A total of 4.65 crore shares are available for subscription in the IPO. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. The proceeds of the IPO are proposed to be used for repayment of certain borrowings, capital expenditure towards setting up a production facility, funding capital expenditure requirements towards expanding of specialty intermediates manufacturing facility, among other things. <cmsannotation type="cmsannotation" annotationid="What is the business of Laxmi Organic?" comment="subhead" text="What is the business of Laxmi Organic?">What is the business of Laxmi Organic?</cmsannotation> Laxmi Organic is one of the largest manufacturers of ethyl acetate, which is used as a solvent for paints, varnishes, cleaning mixtures and perfumes. Laxmi Organics is also the only manufacturer of diketene derivatives in India. Founded in 1989, Laxmi Organic is based in Mumbai and is a part of the Goenka Group. It has over three decades of experience in large scale manufacturing of chemicals. Currently, it is the largest manufacturer of ethyl acetate in India, with a market share of 30%. Its market share will be further augmented after the acquisition of Yellowstone Chemicals. At the moment, Laxmi Organic’s product line is divided in two categories – Acetyl Intermediates (AI) and Specialty Intermediates (SI). The AI category includes ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents. Specialty Intermediates comprises ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Its current manufacturing capacity totals to 2.39 lakh metric tonnes per annum, with each chemical having its dedicated manufacturing facility. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Laxmi Organic" comment="subhead" text="Here are some of the clients of Laxmi Organic">Here are some of the clients of Laxmi Organic</cmsannotation> Laxmi Organic has clients in over 30 countries, including Netherlands, China, Russia, Singapore, UAE, UK and USA. Its clients include Dr. Reddy’s Laboratories, <keyword id="672367" type="DOMAIN" weightage="20" keywordseo="Granules-India">Granules India</keyword>, Hetero Labs, Heubach Colour, Mylan Laboratories, Huhtamaki India, among others. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">GEPL Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Laxmi Organic – strengths and strategies" comment="subhead" text="Laxmi Organic – strengths and strategies">Laxmi Organic – strengths and strategies</cmsannotation> Leading manufacturer of ethyl acetate Laxmi Organic is one of the largest manufacturers of ethyl acetate with a market share of 30% in India. “Ethyl acetate is a highly versatile solvent used in multiple applications across industries. It is derived from nonaromatic raw materials. The bio-based origin of ethyl acetate gives it a distinct identity and makes it a preferred solvent over traditional solvents,” stated an <keyword id="6375760" type="DOMAIN" weightage="20" keywordseo="axis-capital">Axis Capital</keyword> report. Only Indian manufacturer of diketene derivatives It is also the only Indian manufacturer of diketene derivatives. This is a significant strength as India has traditionally imported the chemical. Due to its research and development efforts, Laxmi Organic has captured 55% of the revenue share in the Indian market. Diversified customer base Laxmi Organic customers are spread across various sectors like pharmaceuticals, agrochemicals, dyes and <keyword id="1540974" type="DOMAIN" weightage="20" keywordseo="Pigments">pigments</keyword>, inks and coatings, paints among others. Pharmaceuticals is the biggest contributor to its top line, with a share of 35.7% of the company’s total revenue. Strategically located manufacturing facilities, vertical integration and supply chain efficiencies Laxmi Organic currently has two manufacturing facilities in Maharashtra, which are in close proximity to several ports, including major ones like Jawaharlal Nehru (Nhava Sheva) Port, JSW port and Mumbai port. The company also has distilleries located near sugar mills in Maharashtra, giving them easy access to supply for molasses. 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Courtesy of BettermentBetterment CEO Jon Stein.<ul class="summary-list"><li>Robo-advisors exploded onto the wealth management scene in the last decade as their low-cost investment tools forced traditional financial advisors to <a href="https://www.businessinsider.com/top-wealth-management-executives-predict-industry-future-in-survey-2019-11">adjust their strategies</a>. </li><li>Jason Gurandiano, global head of financial technology investment banking at RBC, told Business Insider that robos have a tough road ahead as the level of assets they manage is still far from where the business model works. </li><li>But while the fintechs might be well-served to consolidate, it seems unlikely they'll do so as they are currently so well-funded and "fiercely independent." And valuations may be too high for them to get bought by a bigger, established wealth player. </li><li>Public market debuts could also prove troublesome, Gurandiano said, as the startups' points of differentiation "are nuanced, and not as acute as they make them out to be."</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Click here for more BI Prime stories.</a></li></ul>Startup robo-advisers burst on the scene in the past decade - luring big VC checks and gathering billions in customer assets. Automated <a href="https://www.businessinsider.com/category/wealth-management">wealth management</a> tools like Betterment and Wealthfront have become household names and are attracting younger generations looking for low-cost ways to invest their money. But the next 10 years could prove more difficult unless the fintechs manage to step up their growth, battle competition from zero-comission brokerage platforms, and make their private valuations more palatable to the public market or strategic buyers, according to one fintech-focused investment banker.Jason Gurandiano, global head of financial technology investment banking at RBC, told Business Insider that while robo-advisers have shown the ability to quickly build a client base from scratch, even the biggest independent robos are still far off from asset levels where they can break even. "To make the business models work, it's predicated on AUM levels that are much higher than where they sit today," Gurandiano said. "And despite the pretty impressive growth that robo-advisers have had, it's still not at a level that creates real excitement."<h2>Many robos are falling short on AUM</h2>The business of financial advice generally brings in revenue based on charging a percentage of client assets under management - though some players have been rolling out <a href="https://www.businessinsider.com/charles-schwab-imitating-netflix-subscription-model-2019-7">flat-fee subscription options. </a>Thus it's a sheer scale play, and the more assets under management an adviser has the more opportunity it has to generate revenue. And that point is particularly crucial for robo-advisers, which charge a fraction of the fees traditional financial advisers do.An <a href="https://www.businessinsider.com/hbsc-roboadvisors-report-on-breakeven-2019-3">HSBC report</a> in March 2019 found that for a robo-adviser to just break even, it would need to manage between $11.3 billion and $21.5 billion in assets.<a href="https://www.businessinsider.com/betterment-ceo-jon-stein-on-wealth-management-industry-future-2019-12">Betterment</a> and Wealthfront, the two largest independent robos, manage $16.4 billion and $13.6 billion in invested assets, according to forms filed with the Securities and Exchange Commission in October 2019. Those figures don't include the assets in the firms' high-yield savings accounts. The remaining independent robos fall well short of HSBC's mark in terms of assets. Other well-known robos such as Acorns, <a href="https://www.businessinsider.com/sigfig-director-of-quality-assurance-has-exited-the-robo-adviser-2019-12">SigFig</a>, and Stash all sit below $2 billion in terms of client assets. (SigFig also partners with several large wealth managers to white-label its technology.)And overall, startup robos are dwarfed by wealth management giants. Firms like Wells Fargo and Morgan Stanley measure their wealth assets under management in trillions, not billions. Consolidation among the startups in an effort to bump up their AUMs is one potential option. But with venture capital firms pouring hundreds of millions of dollars into them, the sense of urgency to combine forces simply isn't there, Gurandiano said. "They're still fiercely independent, and there's no catalyst to force them to merge," he said. "They're well funded. They're well-capitalized. They're growing. They really haven't hit that wall yet where they go, 'We've got to do something here.'"Betterment last raised money in <a href="https://www.businessinsider.com/betterment-valuation-now-800-million-2017-7https://www.businessinsider.com/betterment-valuation-now-800-million-2017-7">June 2017</a> - a $70 million round that nabbed it an $800 million valuation. Wealthfront had a $75 million Series E in March 2018, but with it the company's valuation dropped to $500 million from a previously reported $700 million in 2014, according to a report from <a href="https://www.bloomberg.com/news/articles/2018-03-23/wealthfront-valuation-said-to-drop-about-a-third-in-new-funding">Bloomberg</a>. And even smaller wealth startups have been nearing unicorn status. Acorns, which has roughly $1.2 billion in invested assets, raised $105 million for its Series E in <a href="https://www.businessinsider.com/acorns-raises-105-million-in-funding-2019-1">January 2019</a> at an $860 million valuation.But those valuations will likely scare off potential buyers. The amount of money raised in recent years has created price tags that are too high for larger competitors to consider making an acquisition, Gurandiano said. "There is displacement in valuation given that revenue multiples in private markets are equivalent to EBITDA multiples in public markets," he said. <h2>Robo IPOs could struggle</h2>Going public is another potential option for robos. In <a href="https://www.businessinsider.com/wealthfront-cfo-ashley-johnson-eyeing-public-market-for-robo-adviser-2019-9">September 2019</a>, Ashley Johnson, Wealthfront's chief financial officer, told Business Insider she had ambitions to take the company public, although she did not provide a specific timeline. But Gurandiano, who was Deutsche Bank's lead financial technology banker in the US before joining RBC in 2015, said that route could be difficult because it's a tough pitch for one robo to truly distinguish itself from competitors."The public markets are going to be discerning around valuation for those businesses, because I think the points of differentiation from the tech perspective are nuanced and not as acute as they make them out to be," he said.Further complicating matters is the rise of commission-free trading, Gurandiano added. In the <a href="https://www.businessinsider.com/charles-schwab-td-ameritrade-interactive-brokers-e-trade-cut-fees-2019-10">fall of 2019</a>, traditional discount brokers such as Charles Schwab, TD Ameritrade, E-Trade, and Fidelity all dropped their fees on trading US stocks and ETFs. In doing so, robo-advisers pitch as being a place to invest your portfolio at a lower cost has somewhat diminished, he said. But with commission-free trading now the norm, more investors may simply take matters into their own hands. "At one point you were the cheapest option to have, but now I can just trade my own stuff for free. The original low-cost proposition has been eroded," Gurandiano said. "They need to differentiate on value-added features and diversification." <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-yule-log-became-christmas-tv-tradition-bizarre-wpix-fire-wood-burning-history-2017-12">The bizarre history of the Yule Log Christmas special</a></h3>

A decade in, robo-advisers like Wealthfront and Betterment are in a tricky spot. One fintech banker says buyers and public investors will be hard to win over.

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