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The Central Board of Secondary Education (CBSE) declared the Class X results on Monday. The overall <keyword id="20123359" type="General" weightage="20" keywordseo="pass-percentage" source="keywords">pass percentage</keyword> of 93.60 per cent was recorded. Passing percentage has increased by 0.48 per cent since last year. 25724 schools gave the CBSE class X examinations at 7603 centres. The Trivandrum region registered the highest pass percentage at 99.75 per cent whereas the lowest has been recorded at Guwahati which stood at 77.94 per cent. In the overall Delhi region, a 98.61 per cent pass percentage was recorded. 94.75 per cent of Girls passed the exam whereas 92.71 per cent of boys passed the exam with the Girls outshining boys by 2.04 per cent. Students who sat for the CBSE Class 10 board exams nationwide can view their mark sheets on the <keyword id="21637011" type="General" weightage="20" keywordseo="CBSE-official-website" source="keywords">CBSE official website</keyword>, cbse.gov.in. The other official websites where CBSE 10th results can be checked are - cbseresults.nic.in, results.cbse.nic.in, cbse.nic.in, digilocker.gov.in, results.gov.in. The results can also be checked on mobile apps- Digilocker and UMANG. In regards to the Class 10 exams, CBSE stated that Science, Mathematics, and Social Science were chosen by 22,62,692 students each. These exams took place over three days at 7612 examination centres, utilising 94,279 rooms, with the assistance of 1,88,558 Assistant Superintendents. CBSE class X examinations were held from February 15 to March 13, 2024. Approximately 39 lakh students appeared for Class 10 and 12 examinations. Students must score a minimum of 33 per cent marks to pass the CBSE class 10 and 12 exams. Looking at the past year's trends, in 2023, the CBSE results were announced on May 12. While in the year 2022, it was declared on July 22. Earlier, CBSE declared Class XII. 87.98 per cent of students passed the board exams. Passing percentage increased by 0.65 per cent since last year. 18417 schools gave the CBSE class XII examinations at 7126 centres. This year the overall pass percentage is 87.98 a 0.65 percent increase since 2023. The Trivandrum region registered the highest pass percentage at 99.91 per cent. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/aadhar-housing-finance-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110071990.cms">Aadhar Housing Finance IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/sports/webstories/ipl-decoded-highest-individual-scores-in-ipl-2024-so-far-from-stoinis-to-kohli/slidelist/110008351.cms">IPL Decoded: Highest individual scores in IPL 2024 so far, from Stoinis to Kohli</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a>

CBSE Class 10 board exam results declared

Bifurcating the academic session, holding two term-end exams and rationalising the syllabus were part of the special assessment scheme for class 10 and 12 board examinations in 2021-22 announced by the <keyword id="69419" type="ORGANIZATION" weightage="20" keywordseo="Central-Board-of-Secondary-Education">Central Board of Secondary Education</keyword> (<keyword id="6356155" type="ORGANIZATION" weightage="20" keywordseo="cbse">CBSE</keyword>) on Monday in view of the COVID-19 pandemic. The term one exams will be conducted by the Board in November-December, 2021 while the second term exams will be conducted in March-April, 2022, as per an official order by <keyword id="606469" type="PERSON" weightage="20" keywordseo="Joseph-Emmanuel">Joseph Emmanuel</keyword>, Director (Academic) of the CBSE. The syllabus for the board examination will be rationalised, similar to that of the last academic session, and will be notified in July 2021, it said and also announced plans to make the internal assessment and project work more "credible" and "valid". At the end of the first term, the board will organise exams in a flexible schedule between November-December 2021 with a window period of 4-8 weeks for schools situated in different parts of the country and abroad. "The exams will have Multiple Choice Questions (<keyword id="110202" type="ORGANIZATION" weightage="20" keywordseo="McQ">MCQ</keyword>) including case-based MCQs and MCQs on assertion-reasoning type. Duration of test will be 90 minutes and it will cover only the rationalised syllabus of the first term. The question papers will be sent by the CBSE to schools along with the marking scheme. "The exams will be conducted under the supervision of the external center superintendents and observers appointed by CBSE. The responses of students will be captured on <keyword id="6470854" type="ORGANIZATION" weightage="20" keywordseo="omr">OMR</keyword> sheets which, after scanning may be directly uploaded at the CBSE portal or alternatively may be evaluated and marks obtained will be uploaded by the school on the very same day," he added. At the end of the second term, the board would organise Term <keyword id="254453" type="ORGANIZATION" weightage="20" keywordseo="II">II</keyword> or year-end examination based on the rationalised syllabus. "This examination would be held around March-April 2022 at the examination centres fixed by the board. The paper will be of two hours duration and have questions of different formats (case-based/ situation based, open ended- short answer/ long answer type). "In case the situation is not conducive for normal descriptive examination a 90-minute MCQ-based exam will be conducted at the end of the second term also," Emmanuel said. The CBSE has decided that in case the situation of the pandemic improves and students are able to come to schools or centres for taking the exams, the board would conduct Term I and II examinations at schools or centres and the theory marks will be distributed equally between the two exams. "In case the situation of the pandemic forces complete closure of schools during November-December 2021, but second term exams are held at schools or centres, the Term I MCQ based examination would be done by students online or offline from home but their weightage will be reduced in the final score," he said. Similarly, if the November-December exams are conducted in schools or centres and situation is not conducive in March-April, the result will be declared on basis of first term exams. "In case the situation of the pandemic forces complete closure of schools and Board conducted Term I and II exams are taken by the candidates from home in the session 2021-22, results would be computed on the basis of their marks clubbed with internal assessment subject to the moderation or other measures to ensure validity and reliability of the assessment," Emmanuel explained. The syllabus for the academic session 2021-22 will be divided into two terms by following a systematic approach by looking into the interconnectivity of concepts and topics by the Subject Experts. "The Board will conduct examinations at the end of each term on the basis of the bifurcated syllabus. This has been done to increase the probability of having a board conducted classes 10 and 12 examinations at the end of the academic session," he said. Schools will also use alternative academic calendar and inputs from the NCERT on transacting the curriculum. "Efforts will be made to make internal assessment, practical, project work more credible and valid as per the guidelines and moderation policy to be announced by the board to ensure fair distribution of marks," he added. The announcement by the CBSE comes after the COVID-19 pandemic forced the cancellation of board exams this year after much uncertainty. Last year too, exams of some subjects were not held. "The cancellation of exams also necessitated deliberations over alternative ways to look at the learning objectives as well as the conduct of the board examinations for next academic session in case the situation remains unfeasible," Emmanuel said. The board said that the decision has been arrived at following stakeholder consultations with government and private schools from across the country including the ones from remote rural areas and a majority of them have requested for the rationalisation of the syllabus, similar to last year in view of reduced time permitted for organising online classes. "The board has also considered the concerns regarding differential availability of electronic gadgets, connectivity and effectiveness of online teaching and other socio-economic issues specially with respect to students from economically weaker section and those residing in far-flung areas of the country," Emmanuel said. 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Board exams 2022: CBSE announces special assessment scheme, two term-end exams to be conducted

<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?

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Every company is a data company, but not all of them have the engineering talent to build and scale their data infrastructure.</li><li>Ascend makes software that helps businesses create data pipelines using 85% less code, according to the startup.</li><li>Founder and CEO Sean Knapp said the company has attracted top-tier venture capital firms who share his belief that there are huge money-making opportunities in data infrastructure.</li><li>Ascend came out of stealth mode in July and announced it had raised $19 million in venture capital funding to date.</li><li>The company used the <a href="https://www.businessinsider.com/pitch-decks-that-helped-hot-startups-raise-millions-2019-4">pitch deck</a> below to raise its Series A.</li><li><a href="https://www.businessinsider.com/pitch-decks-that-helped-hot-startups-raise-millions-2019-4">Click here to check out BI Prime's complete pitch deck library.</a></li></ul>The tools for wrangling big sets of data and making sense of the information within them are changing faster than most businesses can keep up, says Sean Knapp, whose startup Ascend helps companies build and scale their data infrastructure with less code."The technologies are so insanely powerful, but they're also hard to use," Knapp tells Business Insider. "It's like trying to drive a F1 sports car. If you know exactly what you're doing and you know all the lines on the track, you'll be good. But most people aren't race car drivers."Ascend is essentially autopilot for data architecture. Its service lets customers create pipelines for extracting data from various sources and loading it into other databases. They might be moving their technology stack from servers on the premises to the cloud, or gathering user data that they want to process and parse in separate analytics tools. The company claims to build these pipelines using 85% less code, reducing the number of bugs for data engineers to fix.The startup has raised $19 million in financing from top-tier venture capital firms including Accel, Sequoia Capital, and Lightspeed Venture Partners. Knapp said he's been courting these partners from the company's earliest stages, before there was a pitch deck to share. The company breezed through its latest round of funding by choosing investors who share their conviction, according to Knapp."Our take is that the next massive wave of innovation will require some really hard technology," Knapp said. "... The investors that this attracts are the ones who are really well educated on the industry, know how hard these problems are to solve and how much demand there is in the market from people who can't solve these problems."The two-time founder met with investors at Sequoia and Lightspeed as part of his market research to determine the demand for data pipeline technology. After the company raised a seed round in 2015, a team of eight employees hunkered down in a spare office it sublet."(The reason) why we stayed stealth for so long is we just kept our heads down and we built really hard technology," Knapp said. Ascend also added a couple of developer partners to test the product and prove out the data efficiencies that the company promised.<h2>The slide that hit home with the VC firm</h2>When the time came for Ascend to raise its latest round of funding, Sequoia and Lightspeed signed on to reinvest. It pitched two other venture capital firms - Accel and 8VC, a boutique firm created by Palantir cofounder <a href="https://www.businessinsider.com/joe-lonsdale-perfect-symbol-of-silicon-valley-2017-4">Joe Londsdale</a> - and received term sheets from both, according to Knapp. The Palo Alto-based Accel led the round.Knapp pointed to the third slide in the Series A pitch deck, which an employee researched and "specifically put together for Accel," he said. It shows all the data companies that Accel has previously invested in and that Ascend sees as potential customers or partners, who could bundle its data pipeline service into their offerings. The slide also listed how much venture capital funding each has raised."The whole idea was, 'Hey, we hope we're all in this room because we deeply believe in the data opportunity, and we believe that there's huge, huge gains to be had,'" Knapp said. "And to convey that point, here's all the money you've already invested in the data ecosystem."It worked. Knapp said he completed the fundraise in three weeks, the shortest cycle that the entrepreneur said he has ever done.Here's the pitch deck that helped Ascend raise $15 million in its Series A funding round:

A startup that pitched only 4 VC firms and got term sheets from all of them used this pitch deck to raise $15 million

<ul><li><keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword> surged as much as 23% on Wednesday after it announced plans to strengthen its balance sheet.</li><li>The video game retailer plans to retire $216 million worth of debt that was set to expire in 2023.</li><li>GameStop recently launched an at-the-market offering, giving the company flexibility to raise cash by selling its stock in the open market.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell.</a></li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> surged as much as 23% on Wednesday after the video game retailer announced plans to strengthen its balance sheet by retiring debt early.GameStop <a href="https://investor.gamestop.com/news-releases/news-release-details/gamestop-announces-voluntary-early-redemption-senior-notes-0">plans to retire $216 million worth of debt</a> that was set to expire in 2023 by the end of this month, using cash on hand. The company now has just $49 million in short-term debt on its balance sheet.The video game retailer could be taking advantage of its sky-high stock price, <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-gme-reddit-retail-day-traders-wallstreetbets-citron-2021-1-1029999747">which surged to a record high of $483 in January</a> amid an epic short-squeeze that was <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">fueled by a band of Reddit traders.</a>GameStop said <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-offering-plan-offer-million-shares-filiing-jefferies-2021-4-1030273746">earlier this month that it launched an at-the-market equity offering,</a> giving the company the ability to sell up to 3.5 million shares into the open market as it sees fit. This type of offering allows GameStop to take advantage of upside volatility in its stock price to limit volatility.The company said it would use proceeds from the offering to strengthen its balance sheet and accelerate its transformation into a specialized e-commerce company.That transformation <a href="https://markets.businessinsider.com/news/stocks/gamestop-stock-price-ryan-cohen-tapped-transition-ecommerce-2021-3-1030159850">is being led by activist investor Ryan Cohen,</a> who is set to become chairman of GameStop's board of directors and who previously led online-pet retailer Chewy to become a multi-billion-dollar company. Shares of GameStop have held up relatively well since the peak of its January short-squeeze. While the stock is down 66% from its record-high, it is still up 776% year-to-date, based on its current prices at 1:56 pm on Wednesday.<div type="image" title="gamestopp chart.JPG" height="525" width="673" msid="82073057" hostid="261"></div>

GameStop spikes 23% after plans to strengthen its balance sheet by retiring debt early

<ul><li><keyword id="11240103" type="UNKNOWN" weightage="20" keywordseo="cartrade-ipo">CarTrade IPO</keyword> offers an attractive opportunity to invest in a new age business, say analysts.</li><li>CarTrade IPO opens on August 9 and will close on August 11.</li><li>Online auto classifieds platform looks to raise ₹2,999 crore through the issue.</li><li>It has already raised ₹900 crore from anchor investors ahead of its initial public offering (IPO).</li></ul>CarTrade is the latest one in the long line of tech startups tapping the public market with initial public offerings (IPO). Unlike Zomato, this would be the first profitable startup to hit the stock market since EaseMyTrip. The company is a 12-year old startup that operates online platforms like CarWale, CarTrade, BikeWale, CarTradeExchange and AutoBiz for users interested in buying and selling new and used vehicles. The IPO of the company opens Monday and closes on August 11. It is looking to raise around ₹3,000 crore through the public listing. Let us see what the analysts have to say about the company’s IPO: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nirmal Bang </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Investmentz </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody><tbody></tbody><tbody></tbody></table> CarTrade is a profitable player in India and one of the few players internationally in the vehicle platform space. Further, with funds of ₹668 crore in its balance sheet, CarTrade is well positioned and plans to capture adjacent business opportunities such as insurance, financing, servicing of vehicles, accessories and refurbishment and sale of cars. The public issue of the company is opening with a price band of ₹1,585-1,618 per share. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35% for retail investors and the remaining 15% for non-institutional investors. Analysts at Choice Broking have similar opinions about the company. “CarTrade is an electronic exchange focusing on auto sector and thus there is no peer company having similar business operations. At a higher price band...we feel it is attractive considering its scalable business model, profitable operations and business growth opportunities in the auto sector value chain,” said the report. The company’s revenue from operations have increased at a compound annual growth rate (CAGR) rate of 26.4% over FY18-FY21. CarTrade offers a unique play on rising digitisation of new and pre-owned vehicle translation value chain/ecosystem, said a report by ICICIdirect. “We assign ‘subscribe’ rating to the issue for listing gains. Long term wealth generation at CarTrade Tech will be a function of scalability, relevance and journey towards healthier return ratios,” said the report by ICICIdirect. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹101.07 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 31.3 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 25.9 crore </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 281.5 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 318.4 crore </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹ 266.8 crore </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/freshtohome-and-bluestone-backer-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/nasa-wants-paid-volunteers-to-spend-a-year-living-in-a-3d-printed-martian-habitat-in-texas-where-they-will-carry-out-spacewalks-and-research-using-vr-tech/articleshow/85149673.cms">NASA wants paid volunteers to spend a year living in a 3D-printed Martian habitat in Texas, where they will carry out spacewalks and research using VR tech</a>

CarTrade IPO ⁠— the share sale by this profitable tech startup gets a unanimous call for ‘subscribe’

<ul><li>The <keyword id="10857125" type="UNKNOWN" weightage="20" keywordseo="KIMS-IPO">KIMS IPO</keyword> goes live today, June 16, and it will be open for subscription till June 18.</li><li>The total IPO size is ₹2,144 crore. The price band is fixed at ₹815-825, and each lot consists of 18 equity shares.</li><li>Analysts are bullish on the company, but also state that the valuation could be slightly on the expensive side.</li></ul>The KIMS IPO opens tomorrow and hopes to mop up ₹2,144 crore from the bullish share markets. It is one of the five IPOs to launch this week, with several others to come in the next few weeks. <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;">Particulars </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;"> </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;">Issue opens </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;">June 16, 2021 </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;">Issue closes </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;">June 18, 2021 </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;">Price band </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;">₹815-825 per share </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;">Market lot </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;">18 shares </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;">Minimum order value </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;">₹14,850 </td></tr></tbody></table> Here’s how much of the issue is reserved for different categories of 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;">Particulars </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;">Share of issue reserved </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;">Qualified Institutional Buyers </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;">75% </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;">Non-institutional Investors </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;">15% </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;">Retail Investors </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;">10% </td></tr></tbody></table> KIMS counts the US-based equity giant General Atlantic amongst its investors. Out of the ₹2,144 crore that it aims to raise from the markets, ₹1,944 crore will be via offer for sale from the existing investors, including General Atlantic. The remaining ₹200 crore will be raised via a fresh issue of equity shares. <div type="Article" hostid="261" msid="83425142" title="KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Objects of the issue" comment="subhead" text="Objects of the issue">Objects of the issue</cmsannotation> The company’s prospectus states that out of the ₹200 crore fresh issue, ₹150 crore will be used toward payment of certain borrowings, which will help reduce its cost of finance. The remaining ₹50 crore will be used towards general corporate purposes, including bed capacity enhancement. <cmsannotation type="cmsannotation" annotationid="Here’s what analysts are saying" comment="subhead" text="Here’s what analysts are saying">Here’s what analysts are saying</cmsannotation> Analysts at Angel Broking recommend subscribing to the KIMS IPO, stating that the company’s expansion plans can be funded through its cash reserves. “The company has one of the best return on equity and return on capital employed ratios of 23.8% and 24.8% respectively. It has a very healthy balance sheet with negative Net Debt/Equity. We believe that the upcoming expansion plan in Bangalore and Chennai can be funded through internal accruals and minimum amount of debt,” Angel Broking said. Analysts at Ventura Securities are bullish about the growth prospects of KIMS, highlighting the presence of the company in Tier I, II and III markets across south India, affordable healthcare, comprehensive infrastructure, and strong brand equity. Stating that they believe there is a potential upside of 55% from the issue price of ₹825, Venture Securities give a thumbs up to KIMS IPO. “We value the stock at ₹1,275. This represents a potential upside of 55% from the IPO price of ₹825 per share (upper band) over the next 24 months,” the research firm said. On the other hand, while the analysts at Choice Broking recommend subscribing to KIMS IPO, they state that the valuation is expensive when compared to the industry average. “We view sustaining margin at these levels (way above industry trend) would remain a challenging task. Further, business is skewed towards a particular region, that is, Andhra Pradesh and Telangana, which may restrict KIMS to leverage growth opportunities,” the brokerage said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/analyst </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dilip Davda </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Understanding the business of KIMS" comment="subhead" text="Understanding the business of KIMS">Understanding the business of KIMS</cmsannotation> KIMS, also known as Krishna Institute of Medical Sciences, is a Hyderabad-based chain of multi-specialty hospitals offering a broad spectrum of healthcare facilities. With over two decades of history, KIMS is one of the largest private hospital chains in Andhra Pradesh and Telangana. It currently operates nine multi-specialty hospitals under the KIMS Hospitals brand. In total, KIMS has a bed capacity of 3,064, out of which 2,500 were operational as of December 31, 2020. <div type="image" title="KIMS IPO Revenue Profits." msid="83547882" hostid="261" caption="&amp;lt;p&amp;gt;KIMS revenues and profits over the last four years&amp;lt;/p&amp;gt;"></div> According to an Axis Capital report, the 3-year compounded annual growth rate (CAGR) of KIMS is the best amongst major hospital players. <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;">Company </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;">CAGR (2017-2020) </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;">KIMS </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;">26% </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;">Narayana Hrudayalaya </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% </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;">Apollo Hospitals </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;">16% </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;">Manipal Hospitals </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;">16% </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;">Healthcare Global </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;">16% </td></tr></tbody></table>Source: Axis Capital SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/kims-ipo-everything-you-need-to-know-about-krishna-institute-of-medical-sciences-ipo/articleshow/83425142.cms">KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations</a> <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a> <a href="https://www.businessinsider.in/stock-market/news/shyam-metalics-ipo-price-gmp-should-you-subscribe/articleshow/83506838.cms">Shyam Metalics IPO worth ₹909 crore is live – find out if you should subscribe to this Kolkata-based producer of long steel products</a>

KIMS IPO – most analysts are bullish on the hospital chain’s prospects

<ul class="summary-list"><li>Iman Abuzeid is one of nine Black and Latina female founders with a startup valued at $1 billion.</li><li>Her company is trying to solve the nursing shortage by cutting the hiring time from 90 to 20 days.</li></ul>Since August, Iman Abuzeid has faced two major challenges. The first was raising an <a href="https://www.incrediblehealth.com/blog/series-b-funding-2022/" target="_blank" rel="noopener">$80 million Series B</a> funding round, which valued her healthcare-career-marketplace startup at $1.65 billion. That made Abuzeid one of <a href="https://www.businessinsider.com/black-and-latina-female-founders-billion-valuations-vc-capital-2023-3">nine Black and Latina female founders</a> whose startups have reached a billion-dollar valuation. These entrepreneurs have faced <a href="https://www.businessinsider.com/topicals-founder-on-pitching-venture-capital-investors-with-confidence-2022-11" rel="">increased challenges getting funded</a> because venture-capital firms have historically excluded or overlooked them.The other hurdle is taking on the national <a href="https://www.businessinsider.com/new-york-nurses-strike-labor-union-staffing-shortage-covid-2023-1">nursing shortage</a>, in which unbalanced staffing ratios can cause burnout, stress, and frustration for the critical medical staff, Insider previously reported.Abuzeid's startup, Incredible Health, connects healthcare networks with the nurses they need to fill open, permanent positions. Unlike on typical job-listing sites — where workers apply for roles — employers apply for the talent. This dynamic, along with personalized algorithms, cuts the typical nurse-hiring process down from the 90-day national average to 20 days, Abuzeid, Incredible Health's cofounder and CEO, told Insider."We save at least $2 million in temporary labor costs for every hospital," she said, adding that by hiring permanent nurses faster, hospitals saved on temporary hires. "The nurses enjoy a 15% increase on average in salary."Abuzeid spoke with Insider about what she looked for in investors. The following as-told-to essay is based on an interview with Abuzeid and has been edited for length and clarity.<h2>I am very selective with who invests in my company</h2>At my company, we've raised about $97 million to date, the majority of that being in 2022, when we raised an <a href="https://www.incrediblehealth.com/blog/series-b-funding-2022/" target="_blank" rel="noopener">$80 million Series B</a>. There were a few things that set us apart and ensured that those fundraisings were very successful. I define success as being very selective about which investors we work with, having multiple term sheets, getting the terms that we want, and working with the partners that we want. I do not target investors who have not already funded women or who have not already funded minorities. I don't even bother.The proof is in the pudding — you can see their portfolios and whom they've invested in. If it's not women or minorities, then I'm not even going to talk to them. I won't engage in the conversation if they come to me, either.Then, there's certain expertise we are looking for, depending on the stage of the company or on the round. In the earlier rounds, we needed preferred technology and marketplace investors. That's how we ended up with Jeff Jordan at Andreessen Horowitz. He's a former CEO of OpenTable, president of eBay, and early investor and board member at Airbnb, Instacart, and Pinterest. I tend to gravitate toward operators — James Joaquin at Obvious Ventures (who has <a href="https://www.forbes.com/sites/katiejennings/2021/10/12/meet-the-sudanese-doctor-who-turned-nurse-staffing-on-its-head/?sh=728b9053357f" target="_blank" rel="noopener">invested in Incredible Health)</a> has built seven companies. Three have gone public, and four have been acquired. His background is as a software engineer and CEO.<h2>Black female founders must focus on winning</h2>The statistics are bad, and they demonstrate a real structural bias in the system. <a href="https://techcrunch.com/2023/01/18/women-founded-startups-raised-1-9-of-all-vc-funds-in-2022-a-drop-from-2021/" target="_blank" rel="noopener">Less than 2% of female founders</a> are getting any venture-capital funding. When you narrow it down to <a href="https://techcrunch.com/2021/11/03/vcs-must-do-a-better-job-of-supporting-black-women-founders/" target="_blank" rel="noopener">Black female founders, it's 0.2%, which is effectively zero</a>.The statistics are real, and you should acknowledge it, but you've got to rapidly move on. You have to sort of suppress it mentally and compartmentalize it because you just have to focus on winning. If you dwell on it, it's just going to cost time and energy. I don't proactively bring it up in calls. My white male counterparts are not spending any mental energy on this topic. You have to focus on being assertive, confident, and ambitious. Communicate clearly what your vision and mission are and what you're trying to achieve.I also have a network of CEOs who are a support for me. Then, professional mental-health support is important, too. I have a therapist, and I'm a huge fan of all CEOs and founders getting a therapist.

How I became one of 9 Black and Latina female founders whose startup reached $1 billion valuation

<ul><li>The top court asked CBSE and UGC to work in tandem to ensure that the careers of two lakh students giving the <keyword id="1157191" type="PERSON" weightage="20" keywordseo="compartment-exams">compartment exams</keyword>, from September 22 to 29, are not jeopardized. </li><li>During the hearing, the top court earlier asked the University Grants Commission (UGC) not to declare the academic calendar till September 24 but was later told that the calendar has been released. </li><li>Taking a serious view of the release of academic calendar, the top court sought explanation from the UGC, to be given on Thursday, and directed that it be placed on record. </li></ul> The Supreme Court Tuesday suggested that the CBSE declare the results of compartment examination expeditiously and asked the UGC to ensure that students get admission in colleges saying "these are exceptional times". The top court asked CBSE and UGC to work in tandem to ensure that the careers of two lakh students giving the compartment exams, from September 22 to 29, are not jeopardized. During the hearing, the top court earlier asked the University Grants Commission (UGC) not to declare the academic calendar till September 24 but was later told that the calendar has been released. Taking a serious view of the release of academic calendar, the top court sought explanation from the UGC, to be given on Thursday, and directed that it be placed on record. "At what time and which date it was released, you will have to show this," the bench comprising Justices A M Khanwilkar and Sanjiv Khanna said. "Don't give us vague dates. Give us the date and time when it was released. Whether it was after the order, before the order or when the matter was being heard. We will examine that," it added. The bench posted the matter on September 24 and asked both CBSE and UGC to coordinate to accommodate around two lakh students giving the compartment examinations. At the outset, <keyword id="9913577" type="UNKNOWN" weightage="20" keywordseo="senior-advocate-vivek-tankha">senior advocate Vivek Tankha</keyword>, appearing for one of the petitioners, said that CBSE compartment exams have commenced today and will continue up to September 29 and nearly two lakh students will appear in the compartment exams. Tankha said that UGC is also here and the CBSE should come out with the results at the earliest. "The UGC has to give us (students appearing in compartment exams) a chance to take admissions in universities," he said. Tankha argued that CBSE has to declare results early and UGC has to give us a chance of taking admission in colleges otherwise our one year will be lost. The bench asked Tankha that without CBSE declaring the results how can UGC accommodate the students. The senior lawyer contended that after the results are declared, UGC can give the students a chance to take admissions in colleges as the students are appearing in the exams during the <keyword id="43587" type="ORGANIZATION" weightage="20" keywordseo="pandemic">pandemic</keyword> times. The bench asked UGC that because of peculiar situation is it possible for the commission to have some route open for accommodating these students who are appearing in compartment exams. To this, the counsel for UGC said that it can be done, if the seats are vacant but he will have to take instructions. The bench then told the counsel to take instructions and see whether these issues can be taken care of by the commission while asking when UGC intends to keep its cut-off date for admission. The counsel replied that he has to take instruction but it may be October end. Counsel for CBSE argued that there are 1,248 exam centres and answer sheets have to be brought to the regional centres. The top court said that these are not normal times but exceptional times and CBSE has to take steps as the career of two lakh students is too big. The counsel for CBSE replied that it will take 3-4 weeks (for declaration of results of compartment exam). The top court told the CBSE that it has to come out with some date so that UGC can take further steps and observed, "If you (CBSE) will not have the date, then UGC will have difficulty". When counsel for UGC said that it may have cut off date of October end, the bench said, "It could be the first week of November also". He said that UGC has already finalised the academic calendar and was about to release it. The bench asked UGC to not release it till Thursday and would hear the matter on that day to know about the views of CBSE. "Both of you coordinate and have a cut off date so that the other one can comply with it. This is only to accommodate these two lakh students. Two lakh is not a small number. Now the situation is beyond anyone's comprehension," the bench said. The bench observed that CBSE has to work in tandem with the UGC and it should be left to them on how to work it out. When one of the counsels told the bench that they have given a chart of dates given by colleges, the bench said, "We are not going to give directions to individual colleges". After the matter was over, the UGC's counsel mentioned the matter and told the bench that the academic calendar has already been released and the admission process has to be completed by October 31. "We will have it on Thursday. You explain this on that day," the bench said, adding, "You also place it on record." The counsel for UGC said, "I am sorry, I was misinformed about it". The bench said, "That's okay but it has to be explained how this miscommunication happened". On September 10, the top court said that the CBSE would not be able to help much the students taking compartment exams for class XII this month as it would be the colleges and universities which will take their admissions for higher studies. The apex court said this while hearing a plea which has challenged the decision of <keyword id="3372335" type="COMPANY" weightage="20" keywordseo="The-Central-Board-of-Secondary-Education">the Central Board of Secondary Education</keyword> (CBSE) to hold compartment exams on the ground that it would be detrimental to the health of the examinees. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/airline-ticket-refund-dgca-tells-sc-that-tickets-booked-during-lockdown-are-entitled-for-refund/articleshow/78251898.cms">Airline ticket refund: DGCA tells SC that tickets booked during lockdown are entitled for refund</a>

CBSE and UGC should ensure admission of students giving compartment exams, says SC

<div class="image-container display-table float_right"><div><div class="image"><a href="http://www.flickr.com/photos/americaswildlife/6277356510/">flickr/americaswildlife</a></div></div></div>If you're an entrepreneur who's just been given a term sheet by a venture capitalist, the jargon is probably hard to decipher without a lawyer. Many founders have signed terms that weren't in their best interest because they missed a sneaky clause. <a href="http://passioncapital.com/">Passion Capital</a>, a London-based firm, has always had downloadable term sheets available on its site but today it's doing away with all of the confusing terminology. It's uploaded a version that's written in plain English.
"It occurred to us that since all VC term sheets are non-binding anyway – and make a pretty big deal stating that – then there shouldn't be any reason for them not to be worded in plain, conversational English," Eileen Burbidge, Passion Capital partner, told us via email. "It all just pointed to one extra needless step -- full of formality -- that we were glad to get rid of."
The term sheet can be downloaded on Passion Capital's website, but we've also included the full text below:
 [Date] Passion Capital Term Sheet for [Non-Hipster Limited] We, Passion Capital LP, want to invest money in your company, [Non-Hipster]. Structure of Financing We’re making you an offer of a £ [ ] investment as your seed round. This investment will be for [ ] % of the ownership in your company. Your company will issue to us the same type of common shares that you already have. Option Pool Our offer assumes that you’ve already or will set up an employee stock option pool before our money goes in, so that our ownership is "fully-diluted" after accounting for that option pool. We think you'll need at least a 10% option pool after the investment round in order to hire some key management team members and senior people. To make this really clear, see the attached table to see how this looks with actual shareholding and ownership percentages after the investment. Conditions to Close Before we sign the paperwork and transfer our money, we have to do some basic due diligence on the company and also on you, the founders. This includes anti-money laundering checks and having you complete a Founder’s Questionnaire. We also want to see that all of the company's relevant employees and freelancers have signed employment or similar contracts which make it clear that the company owns all of the intellectual property that’s been created for the business you’re building. At the same time, if you haven’t already done so, you should also do a bit of due diligence on us. For example, speak to some of our existing founders and get a feel for what they think of us. We’d be glad to make introductions if it helps. Estimated Closing Date We’ll use our standard legal agreements which you should review, preferably with a lawyer to help (and again, maybe also speak to a couple of founders who will have seen and agreed to the same docs). We hope that we can wrap this all up and finish the investment round with signed paperwork and money in your account no later than 4 weeks from today, [date]. Documentation and Warranties It’s worth mentioning that our standard investment docs will include some “representations and warranties”. These are assurances that you give to us that the business we’re investing in is what you say it is. Normally investors have the right to financial claims against the founders if they’ve misrepresented the business, but we limit our right to claim so that it’s only against the company, not the founders, and the amount can’t be more than the amount we’re investing. Liquidation Preference We’re not asking for any complex preference rights (see pointers here <a href="http://bit.ly/128FxX2" target="_blank">http://bit.ly/128FxX2</a> and here <a href="http://bit.ly/1bR0efR" target="_blank">http://bit.ly/1bR0efR</a>), but we do ask for a so-called simple 1x liquidation preference. This means that if the company is sold, we’ll get the higher of either the amount of our investment or our ownership percentage of the sale value. In the worst case if the company is wound down with very little left, then anything left would be distributed to us in proportion to our ownership. Important Decisions We’re here to support you, not to interfere in your day-to-day business operations, but we do have a list of decisions that we believe should be approved by a majority of the investors. This includes issuing new shares, raising new finance, selling the business, etc. You can see the full list <a href="http://swipe.to/1472" target="_blank">http://swipe.to/1472</a>. Pre-emption Rights We think all shareholders, including the founders, should have the right to invest in future financing rounds to avoid being diluted. This doesn’t mean shareholders have to put more money in, but if they want to and are able to, they have that right to maintain their ownership in any future <keyword id="6357455" type="EVENT" weightage="60" keywordseo="Funding">funding</keyword> round. Right of First Refusal and Co-Sale If any shareholder wants to sell their shares to someone else, we and other investors have the option to buy those shares on the same terms or to sell our own shares, again on the same terms. Drag-Along If shareholders, which of course includes you, owning more than 50% of the shares in the company want to sell their shares (typically to accept an acquisition offer) then, as long as the board and a majority of the investors approve it, all other shareholders must also sell their shares. This protects all shareholders from, say, one small, stubborn shareholder refusing to sell their shares in an acquisition offer and blocking a deal everyone else wants to see happen. Restrictive Covenants We don’t want any of you to start a competitive business or to leave and take team members with you to another business even if it’s not competitive. That’s not why we are investing in the company and your co-founders wouldn’t be very happy with you either. These restrictions apply for as long as you’re employed by the company or hold at least 10% in equity and for 1 year after that. Founder Shares Even after our investment, you the founders will normally own the majority of the shares in the company. However, our nightmare scenario is that we invest and then the day after you skip off to Timbuktu and we’re stuck as shareholders. It may sound far-fetched, but it happens. We are fundamentally investing in you and your co-founders for the long haul and we expect you to have the same view. Making your shares subject to reverse vesting protects us and your co-founders if one of you changes your mind. Your shares will be earned monthly over 3 years meaning, for example, that if you give up on the team after 12 months, the company has the right to buy back two-thirds of your shares from you. Board of Directors We think you should control your board, but we generally like to have a seat too. We don’t take board control. Sometimes it makes sense for us just to have a less formal observer, non-voting seat. Information Rights We’d like to get regular status updates from you in whatever format makes most sense for us all. For our own fund reporting purposes we’ll need monthly financial reports from you. Expenses You pay for your legal costs and we pay ours. We don't see why we’d invest cash in your business only for some of it to come straight back out in order to pay our legal bills. We see whatever this deal costs us as our cost of doing business. Exclusivity If we both sign this term sheet, it means we’ll all be putting time and effort into completing the investment over the next 4 weeks. We don't want you to keep pitching to other investors potentially to replace us during that period. If you decide to switch to another investor in that period and it's not because we've done anything wrong, then we might charge you for our costs. Confidentiality We trust your judgement in deciding who to talk to about this offer and when. This is a non-binding offer and things can unfortunately always fall through, so it's really not in your interest nor ours to pre-announce anything until it's done. Non-binding Effect This document isn't legally binding but we're still pretty excited about it and the prospect of working with you. Expiry We hope you’ll decide relatively quickly on whether or not you want to move ahead with us. Obviously it's a big decision so don't take it lightly, but time is your most valuable asset right now and the quicker we move forward and get cash into the company, the quicker you’ll be able to focus on building a great business. This offer remains open until we email you to tell you that we've moved on. Acceptance If you’re happy with all of this, sign below, or just tell us so in an email reply. Thanks for giving us the chance to pitch to you! ------------------------------
<div id=":10n" style="padding-left: 30px;">-------------------- Offered by [Partner] Passion Capital [Date] -------------------------------------------------- Signed and accepted above by Name: ------------------------------------ Company: ------------------------------- Date: --------------------------------------</div>

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