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New Delhi: <keyword id="22803368" type="General" weightage="100" keywordseo="Smartworks-Coworking-Spaces" source="keywords">Smartworks Coworking Spaces</keyword> Ltd has filed preliminary papers with capital markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="345" meta.entityid="Sebi">Sebi</keyword> to raise funds through an <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The proposed initial share sale is a combination of a <keyword id="20953853" type="General" weightage="20" keywordseo="fresh-issue" source="keywords">fresh issue</keyword> of equity shares worth Rs 550 crore and an Offer For Sale (OFS) of 67.59 lakh shares by promoters, according to the <keyword id="20076796" type="General" weightage="20" keywordseo="Draft-Red-Herring-Prospectus" source="keywords">Draft Red Herring Prospectus</keyword> (DRHP). The city-based company may consider raising Rs 110 crore through a <keyword id="22244028" type="General" weightage="20" keywordseo="pre-IPO-placement" source="keywords">pre-IPO placement</keyword>. If such placement is undertaken, the amount raised will be deducted from the total fresh issue size. Proceeds from the fresh issue to the tune of Rs 282.30 crore will be used for capital expenditure related to the fit-outs in new centres and security deposits for these new centres, Rs 140 crore will be allocated for payment of loans and the remaining funds will be utilized for general corporate purposes. Smartworks Coworking Spaces Ltd is a leading platform for office experiences and managed campuses. It specialises in leasing large, bare-shell properties in prime locations and transforming them into fully serviced, tech-enabled campuses with modern amenities. These campuses include cafeterias, sports zones, gyms, crA"ches, medical centres, and more, offering a modern and attractive work environment. The company cater to businesses of all sizes, with a focus on mid-to-large companies that need over 300 seats. The company is concentrated in cities including Bengaluru, Mumbai Metropolitan Region, Hyderabad, Gurugram and Chennai. India's commercial office space was about 841.2 million square feet as of March 31, 2024, and is expected to grow at an annual rate of 6.71 per cent to 1,079.3 million square feet by the end of 2027, as per the draft papers. Flexible workspaces have become a key part of modern work culture, supporting different working styles and adding flexibility to the office market. JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd and Kotak Mahindra Capital Company Ltd are responsible for managing the company's IPO process.

Smartworks Coworking Spaces files IPO papers with Sebi; eyes Rs 550 crore via fresh issue

Missing some action, adrenaline rush, and thrill in your life? Are the good old, albeit mundane money investment avenues like mutual funds and fixed deposits not making the cut for you? Want to experience a heart-pounding, financial rollercoaster that will constantly keep you and your portfolio on tenterhooks? Well then, welcome to the world of initial public offers (IPOs), especially those brought to you by SMEs, or <keyword id="6375845" type="General" weightage="20" keywordseo="Small-and-Medium-Enterprises" source="Orion">small and medium enterprises</keyword>. Truth be told, <keyword id="3704207" type="General" weightage="100" keywordseo="SME-IPOs" source="Orion">SME IPOs</keyword> have been all over the bourses this year. So far, 2024 has seen 206 SMEs debuting on both BSE and NSE, out of which 146 listed in gains and 46 listed in losses. Odds seem good, right? In contrast, the year has only seen 63 IPOs from the elder brother i.e. mainboard, only 48 of which managed to post any listing gains. And getting an allotment has also been a major uncertainty, given the unusually high demand this year. <h2>So, what's an SME <keyword id="6354763" type="General" weightage="20" keywordseo="IPO" source="Orion">IPO</keyword>, you ask?</h2>Think of a mainboard company as Shah Rukh or Salman Khan—well-established, financially stable, strong legacy of profitability, and fairly well-known. On the other hand, SMEs are your Prateek Gandhi (Harshad Mehta, Scam 1992), Siddhant Chaturvedi (MC Sher, Gully Boy) or Avinash Tiwary (Majnu, Laila Majnu). While they are doing super well, they are yet to make it big like the Khans. They’re currently underdogs, lesser known, but who knows? They can be the next big thing in the future! And SME IPOs are getting a stellar reception. In 2023, 182 such IPOs had raised a substantial Rs 4,967 crore. In 2024, more than 200 companies have already raised over Rs 7,500 crore, and we have four months to go. This, with one quarter of the year still remaining. <div type="image" title="In 2024, India leads IPO activity in the Asia-Pacific region" height="900" width="1200" msid="113875643" hostid="261" caption="&amp;lt;p&amp;gt;In 2024, India leads IPO activity in the Asia-Pacific region&amp;lt;/p&amp;gt;"></div> But what does it take for a company to be classified as a small enterprise? The company has to have an annual turnover/income of up to Rs 50 crore, and for a medium enterprise to be called so, its annual income has to be up to Rs 250 crore. When such companies go public, in a bid to raise funds from investors and expand their operations, they launch an IPO, but not on the main exchange, but separately, on NSE’s Emerge and BSE’s SME platform. As of September 2024, <keyword id="4484133" type="General" weightage="20" keywordseo="NSE-Emerge" source="Orion">NSE Emerge</keyword> has 147 listed participants, while <keyword id="1885131" type="General" weightage="20" keywordseo="BSE-SME" source="Orion">BSE SME</keyword> has 155 market makers. Mounting an SME’s IPO is comparatively less stringent than their mainboard counterparts, as far as regulations are concerned since their DRHPs (draft <keyword id="12225712" type="General" weightage="20" keywordseo="Red-herring-prospectus" source="Orion">red herring prospectus</keyword>) are not filed with SEBI. So, wouldn’t a lenient treatment make them inherently riskier? Why are they so appealing, you ask? <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> Well, for one, some of them have delivered exceptional returns—we’re talking 100%, 200%. Consider this—Owais Metal and Mineral Processing, which launched its IPO in February this year, delivered a whopping listing gain of 201%. Another SME, Maxposure, whose IPO was out in January 2024, had earned its investors listing gains worth 317.40%! Apparently, higher risks also mean higher returns, and also super high investment. Most SME IPOs need a minimum investment of Rs 1,00,000 or more, as opposed to mainboard IPOs, where you can buy one lot of shares for anywhere between Rs 14,000-15,000. Even the minimum trading lot size for SME shares is about 10,000. In short, you’d have to potentially empty your pockets to invest in an SME IPO. And still, there’s no guarantee that the listing will fill your wallets. For all you know, your pockets before and after the IPO is listed might stay the same - EMPTY! There's also the question of whether or not these SMEs are able to maintain their listing day mojo, or do they just fizzle out thereafter? Data from Prime Database highlights more instances of the latter. As of August 2024, about 166 SME IPOs had made it to the exchanges. Around 72 of them, or close to 50%, could not sustain their momentum going ahead, and were trading below their listing day prices. Consider this. The post listing gains of Medicamen Organics, whose IPO came out in June 2024, earned its investors massive listing gains of over 300%, by listing at Rs 137.85, significantly higher than its price issue price, which was set between Rs 32-34. But as of October 1, 2024, the stock was trading at Rs 64.2. Talk about falls. Additionally, risks of pump-and-dump, and illiquidity, among others makes SME IPOs dangerous See, you're largely venturing into unknown, pitch-dark territories, without much light to guide you. For starters, SME IPOs face less scrutiny from market watchdog SEBI. This also means they are able to list quickly, just 3-4 months. On the other hand, mainboard IPOs can take upto a year before they are cleared for listing. Also, there is far less information and disclosures available about their financials, fundamentals and performance to investors for making an informed decision, as compared to mainboard stocks. Then there’s the issue of illiquidity. Once purchased, you might find it hard to sell off your SME stocks, since they are not traded as frequently in the market, which means lower liquidity. Trivesh D, COO, Tradejini explains that liquidity is a major concern for such stocks. “These stocks typically have a smaller free float, and are traded in lots, which can lead to volatility and sharp price swings. This means it can be challenging for investors to buy or sell shares without significantly impacting prices. Additionally, speculative trading practices, like 'pump-and-dump' schemes, can inflate stock prices, leaving retail investors vulnerable to sudden drops”. Recently, SME IPOs have gained notoriety for price manipulation via showing fictitious sales and revenue in their books of accounts, selling of promoter holdings at inflated prices, and being the facade for many infamous <keyword id="10663340" type="General" weightage="20" keywordseo="Pump-and-Dump" source="Orion">pump and dump</keyword> schemes. This is where select people create frenzy, or mass euphoria over a particular stock or company, causing its prices to soar, and then dumping them, or selling their shares at this massive price to make a killing! Infact, it's not just the promoters, but also the investment banks floating these IPOs. At present, SEBI is investigating around 6 investment banks which have allegedly charged SMEs a staggering 15% of funds raised via IPOs as fee, as opposed to the standard 1-3%. In March 2024, SEBI chairperson Madhabi Puri Buch had also highlighted witnessing signs of manipulation in the SME space. “We do see signs of manipulation in the SME segment. We are able to see certain patterns.” Buch had observed back then. Adds Kresha Gupta, Founder &amp; Director, StepTrade Share Services, “Investing in SME IPO comes with significant risks, despite their impressive returns in recent years. Limited participation from institutional investors and public in some SME IPOs also mean that those companies may lack the support and stability that comes with larger-scale investments” “Additionally, many SMEs may not have strong fundamentals to justify their valuations. High P/E ratios can be misleading, and while some IPOs have delivered impressive returns, they often come with significant volatility, continues D of Tradejini. <h2>So, should I stay away? </h2>Yes, and No. Yes, if you don't want to do your homework of researching the company thoroughly beforehand. Anand K. Rathi, Co-Founder of MIRA Money suggests asking a couple of questions before investing your hard earned money: <ul><li>What is the company's financial performance over the past 3-4 years?</li><li>What is the company's governance structure?</li><li>Is the financial success driven by the IPO, or is it a result of consistent performance?</li><li>Does the company have what it takes to scale its operations to the next level?</li><li>Are the company’s promoters trustworthy, capable and experienced?</li><li>What is the level of participation by large, institutional investors?</li></ul> But staying away completely? Not necessary. Gupta adds that retail investors, in particular, should avoid viewing SME IPOs as quick money-makers based on their short-term performance, as this can certainly lead to poor investment decisions. “To mitigate risks, investors should always focus on long-term fundamentals rather than just short-term price movements. Key indicators include the participation of institutional investors like DIIs and FIIs. This often signals confidence in the stock”, she continues. A red flag you should look out for is if a company is only offering OFS, or Offer for Sale. This can indicate early investors looking to exit, potentially signaling weaker future growth. That's why it is better to look for companies which are raising capital for expansion purposes. This is a sign of healthy business growth prospects and improving fundamentals. In conclusion, backing the underdog, or SMEs, is not a bad proposition, but not without its risks. Investing in SME IPOs is like riding a unicorn—but you don't know whether you're riding it to rags or riches! So, take your pick.

Why investing in SME IPOs should not be on top of your adventure to-do list!

<ul class="summary-list"><li>Caitlin Clark showed up to the WNBA Draft dressed in Prada from head to toe.</li><li>According to Business Insider's calculations, Clark's outfit costs $16,875 — or about 22% of her first-year WNBA salary.</li></ul><a target="_blank" href="https://www.businessinsider.com/caitlin-clark-iowa-strength-training-improvement-2023-season-2023-3">Caitlin Clark</a> is going to the WNBA in style, with a little help from Prada.The 22-year-old was dressed in <a target="_blank" href="https://www.businessinsider.com/prada-white-tank-top-status-symbol-2024-2">Prada</a> from head to toe at the WNBA Draft on Monday, where she was selected as the <a target="_blank" href="https://x.com/WNBA/status/1780018324488769861">No. 1 pick</a> by Indiana Fever.Business Insider examined photos of Clark's outfit and Prada product listings to determine what she wore.According to the photos, her outfit consisted of an <a target="_blank" href="https://affiliate.insider.com?h=5671552de0898bfee9750718fff75e14cf46543d7cab8e329362a4d1f317f533&amp;postID=661ddd9f97126ae3b2078512&amp;postSlug=caitlin-clark-prada-outfit-wnba-draft-sports-luxury-sponsorships-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.prada.com%2Fus%2Fen%2Fp%2Fembroidered-rhinestone-mesh-top%2FP971LR_1315_F0Z2D_S_OOO">embroidered rhinestone mesh crop top</a> ($3,750) under a boxy <a target="_blank" href="https://affiliate.insider.com?h=99c1b413fada9742e66dd054fdbf7291f5ffff3630e54131ed602eac1db158a6&amp;postID=661ddd9f97126ae3b2078512&amp;postSlug=caitlin-clark-prada-outfit-wnba-draft-sports-luxury-sponsorships-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.bergdorfgoodman.com%2Fp%2Fprada-boxy-crystal-button-satin-double-shirt-prod177690072">satin shirt </a>($5,500), which she paired with a <a target="_blank" href="https://affiliate.insider.com?h=3486c0f5f4705d9eb39d62ede740c1e82a35a2143e3c8b1c4ecb7d540a1779aa&amp;postID=661ddd9f97126ae3b2078512&amp;postSlug=caitlin-clark-prada-outfit-wnba-draft-sports-luxury-sponsorships-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.prada.com%2Fus%2Fen%2Fp%2Fdouble-satin-miniskirt%2FP105V_393_F0009_S_231">double satin miniskirt</a> ($1,750) and <a target="_blank" href="https://affiliate.insider.com?h=3f8852f1d10035c01aedf5ad1e19611e7a502751259ec9426f329682ea740426&amp;postID=661ddd9f97126ae3b2078512&amp;postSlug=caitlin-clark-prada-outfit-wnba-draft-sports-luxury-sponsorships-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.prada.com%2Fus%2Fen%2Fp%2Fbrushed-leather-slingback-pumps%2F1I901M_055_F0002_F_DD75">black brushed leather slingback pumps </a>($1,200).<div type="image" title="Caitlin Clark arrives prior to the 2024 WNBA Draft at Brooklyn Academy of Music on April 15, 2024 in New York City." height="3000" width="1999" msid="109336754" hostid="261"></div>Clark completed her look with a <a target="_blank" href="https://affiliate.insider.com?h=0a1dd623a9247e7e38bbba1a31bdafbd8ffb41e230ff0d3b2eace3d842b3173d&amp;postID=661ddd9f97126ae3b2078512&amp;postSlug=caitlin-clark-prada-outfit-wnba-draft-sports-luxury-sponsorships-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.prada.com%2Fus%2Fen%2Fp%2Fprada-galleria-patent-leather-mini-bag%2F1BA906_069_F03KJ_V_EOM">Prada Galleria patent leather mini bag</a> ($4,100) and a pair of <a target="_blank" href="https://affiliate.insider.com?h=85fdbf08e94a6564f779aca5f2ab8d1a412b3bf69d1fe5e72a0d4a8fa288f066&amp;postID=661ddd9f97126ae3b2078512&amp;postSlug=caitlin-clark-prada-outfit-wnba-draft-sports-luxury-sponsorships-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.prada.com%2Fus%2Fen%2Fp%2Fsunglasses-with-triangle-logo%2FSPR14Y_E19M_F04I2_C_053">acetate sunglasses </a>($575).<div type="image" title="A composite image of the Prada sunglasses and the patent leather Galleria bag that Caitlin Clark wore to the WNBA draft." height="1080" width="1440" msid="109336755" hostid="261"></div>"I love Prada. I think Prada is very me," Clark told <a target="_blank" href="https://twitter.com/GQSports/status/1780009947637420464">GQ Sports</a> while walking the red carpet prior to the draft. "Prada's never dressed a WNBA player or an NBA player for the draft, so it's very fun."Stylist Adri Zgirdea Toth told <a target="_blank" href="https://www.marieclaire.com/fashion/caitlin-clark-wnba-draft-2024-prada-outfit/">Marie Claire</a> that she coordinated Clark's look."Dressing an athlete for the draft is a first for Prada, and this is obviously a first for Caitlin, too. Both are at the forefront of what they do — it's almost too perfect," Toth said.According to BI's calculations, Clark's Prada outfit totals up to $16,875 — or about 22% of her first-year salary in the WNBA.As the top pick in the draft, Clark is expected to make $76,535 in her first year, per the <a target="_blank" href="https://www.businessinsider.com/wnba-players-money-salaries-side-jobs-wage-gap-2023-12">WNBA rookie pay scale</a> as compiled by <a target="_blank" href="https://www.spotrac.com/wnba/cba/rookie-scale/2024/">Spotrac</a>. This stands in contrast to the No. 1 pick in the NBA, who will earn at least $10 million, per <a target="_blank" href="https://www.spotrac.com/nba/cba/rookie-scale/">Spotrac</a>.At the Iowa Hawkeyes, as the NCAA's all-time leading scorer, <a target="_blank" href="https://www.businessinsider.com/caitlin-clark-valuable-womens-college-basketball-player-2024-3">Clark's name, image, and likeness valuation</a> were valued at over $3 million, thanks to deals with Nike, Gatorade, and State Farm.While it remains to be seen if Prada will offer Clark an official endorsement deal, the Italian luxury house has been increasingly investing in sports and athlete partnerships.During the 2022 Beijing Winter Olympics, Team USA snowboarder Julia Marino <a target="_blank" href="https://wwd.com/fashion-news/fashion-scoops/julia-marino-prada-snowboard-beijing-winter-olympics-1235063400/">competed with a white and red Prada snowboard</a> from its Linea Rossa Ski fall 2021 collection — a campaign that she also modeled for.Last year, <a target="_blank" href="https://wwd.com/fashion-news/fashion-scoops/exclusive-prada-official-partner-chinese-womens-national-football-team-1235729342/">Women's Wear Daily</a> reported that Prada would be the official partner of the Chinese women's national football team, providing them with off-field outfits that comprise a tailored suit with loafers.And it's not just Prada that's vying for a slice of the sports market pie.LVMH <a target="_blank" href="https://www.lvmh.com/news-documents/news/lvmh-has-become-a-premium-partner-of-the-paris-2024-olympic-and-paralympic-games-and-will-share-its-creative-excellence-and-craftsmanship-for-key-celebratory-moments-during-the-olympic-and-paralympic/">announced</a> last year that it will be sponsoring the upcoming <a target="_blank" href="https://www.businessinsider.com/category/olympics">2024 Olympic games in Paris</a> as a premium partner, tapping into several brands under the group to support the event.<a target="_blank" href="https://www.lvmh.com/news-documents/news/lvmh-unveils-medals-for-the-olympic-and-paralympic-games-paris-2024-goldsilverbronze-and-above-all-paris/">Chaumet</a>, a jewelry brand, will design the games' medals, while <a target="_blank" href="https://www.lvmh.com/news-documents/press-releases/lvmh-has-become-a-premium-partner-of-the-paris-2024-olympic-and-paralympic-games-and-will-share-its-creative-excellence-and-craftsmanship-for-key-celebratory-moments-during-the-olympic-and-paralympic/">Moët Hennessy wines and spirits will be served</a> as part of the event's hospitality program.Representatives for Prada, Clark, and Toth did not immediately respond to requests for comment sent outside regular business hours.

Caitlin Clark wore a $17,000 Prada outfit to the WNBA draft. That's about 22% of her expected first-year salary.

America has descended into a new Red Scare

<ul class="summary-list"><li>Cheech Marin is best known for his work as a comedian as part of the duo Cheech &amp; Chong.</li><li>Marin was drawn to comedy from a young age, sharpening his skills at the family dinner table.</li></ul>This is an as-told-to essay based on a conversation with Cheech Marin, a Mexican American comedian, actor, musician, and <a target="_blank" href="https://riversideartmuseum.org/visit/the-cheech-marin-center-for-chicano-art-culture/">art collector</a>. The essay has been edited for length and clarity.I was born and raised in Los Angeles as a third-generation Mexican American. The South Central neighborhood I grew up in was very loud and violent. My dad was a police officer — LAPD for 30 years — so you're right there next to the action.I saw many violent things, but I had the love of my family, especially Chicano families. They tended to stay and become very close, especially larger ones.I was nurtured at an early age by my other cousins who were very smart and educated. My older cousin, Louie, was the head of the group, and he instituted a program where we were all assigned subjects to learn about and bring back to the group. I was assigned art, and that's how I became familiar with art at a very early age.Louie's father, my uncle Bono, was the family nicknamer. When I came home from the hospital as a newborn, he looked in the crib and he said, "Looks like a little chicharrón" — deep-fried pig skin chips that are always curled up. As a newborn, I was a little curled up, so the name stuck.<div type="image" title="Comedians Tommy Chong and Cheech Marin in a scene from the movie &quot;Up In Smoke&quot; which was released in September 1978." height="2636" width="3889" msid="105498360" hostid="261" sizebytes="246610"></div><h2>A comedian from a young age</h2>My family was funny — very quick-witted and sharp. That was the currency dealt. If you wanted any time to speak at the dinner table, you needed a tight two, three minutes to entertain the folks.Everybody went back and forth, and that family banter prepared me for everything in the public sphere that I was going to experience as I moved forward.Laughter is the best feeling in the world. Laughter expands you. I was always the class clown, but I got straight A's. Teachers wanted me to shut up, but not too much.<div type="image" title="Cheech Marin as a young boy" height="1421" width="1864" msid="105498362" hostid="261" sizebytes="128850"></div><h2>Becoming Cheech &amp; Chong</h2>I went to Canada in my early 20's as part of the <a target="_blank" href="https://embed.insider.com/11-ways-people-dodge-the-draft-during-the-vietnam-war-2020-1">draft resistance movement</a> during the <a target="_blank" href="https://www.insider.com/tet-offensive-vietnam-war-photos-what-happened-2018-1">Vietnam War</a>. I started doing comedy because they paid me more for doing comedy than for delivering carpets, which is what I was doing in Vancouver before I met <a target="_blank" href="https://mobile.insider.com/tommy-chong-marijuana-chocolate-edibles-2017-3">Tommy Chong</a>.We were really just trying to get paid so we could make rent. We moved to Los Angeles, and our early goal was, "How are we going to find $1.50 every day?" That was the amount of money we needed every day to buy a bag of rice or some beef and greens to make a Chinese meal.We went from club to club, trying to look for a gig while carrying this little red wagon with us. Whenever we found pop bottles or soda cans, we'd throw 'em into the wagon to get the five-cent deposit per can.By the time we finished our journey, sometimes we had $1.50 and we could go buy something to eat. That was our quest. If you want to see motivation, that's motivation.<div type="image" title="Cheech and Chong at a radio station" height="3726" width="5606" msid="105498364" hostid="261" sizebytes="1877726"></div><h2>Representing real issues through comedy</h2>I think what audiences loved about <a target="_blank" href="https://www.insider.com/comedies-everyone-needs-to-watch-in-their-lifetime">Cheech and Chong</a> was that we represented what was going on at the times in a kind of benevolent way.We learned how to create this inoffensive, pointed humor. When creating our shows, we used what we call the "Omni Burger" approach, where the show has just the right amount of meat, the right amount of tomatoes, a little bit of that mustard, because you could serve it in an appetizing way in Atlanta one day and in New York City the next.<div type="image" title="Comedians Cheech and Chong perform on the Humor Me Stage during the 2016 KAABOO Del Mar at the Del Mar Fairgrounds on September 18, 2016 in Del Mar, California" height="4056" width="5687" msid="105498365" hostid="261" sizebytes="2581028"></div>Cheech and Chong also reflected what was going on in our age group's consciousness at the time. At first, the war was a big deal. I adopted the universal soldier outlook, where if you didn't participate in the war — if we sent no soldiers — there wouldn't be a war.What is the most practical thing to do to actually effectuate change? To stop this machine from rolling forward and running over you and everyone else?When you're making comedy, there's no defense against a really good joke. It makes you laugh, or it doesn't, because like Walt Disney said, there are two emotions you can't fake: fear and laughter. Laughter is inescapable. It's like a genie coming out of you. It's got to escape and it's much stronger than you.

I started performing comedy after escaping the draft for the Vietnam War. That led to the creation of Cheech & Chong.

<ul class="summary-list"><li>Gradey Dick started a stir on social media over his ensemble at the 2023 NBA Draft.</li><li>The Kansas native rocked a red blazer inspired by "The Wizard of Oz."</li></ul>Gradey Dick celebrated being a <a href="https://www.insider.com/kids-fitness-childhood-basketball-training-plan-nba-2023-6">top pick at the NBA Draft Thursday</a> by paying homage to Dorothy from "The Wizard of Oz."The Kansas native sported a sparkly, red blazer with accentuated shoulders that set social media ablaze. He topped it off with a matching shirt, black dress pants and a diamond necklace.Dick was selected by the Toronto Raptors with the 13th pick, which took place in Brooklyn, New York, at Barclays Center.The official NBA Twitter account posted a video where Dick shared more details about his 'fit."So I'm from Kansas. Dorothy has her little slippers, I got my Dorothy suit," Dick says in the video. The former University of Kansas shooting guard also made sure to point out his Christian Louboutin shoes with red bottoms. In the comments section users had a lot of fun with Dick's outfit. "Is He Going To The Players Ball Or #NBADraft???" one user wrote. "That's called confidence! I love it," another user wrote.When asked what he was looking forward to most as a Toronto Raptor, Dick shared that he hoped to meet Drake."I need him to wear my jersey. That's how I know — that's my priority," he said.From the looks of things, Dick may get his wish. The Raptors' official Twitter account shared a video of Dick's excitement after the Toronto rapper followed him on Instagram.

Gradey Dick gave main character energy when he wore a dazzling red blazer inspired by Dorothy from 'The Wizard of Oz' to the NBA Draft

Sajjan Jindal-owned <keyword id="146214" type="General" weightage="100" keywordseo="jsw-infrastructure" source="Orion">JSW Infrastructure</keyword> has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) to retire debt and support its expansion plans. JSW Infrastructure will be the third company of the <keyword id="144036" type="General" weightage="80" keywordseo="jsw-group" source="Orion">JSW Group</keyword> to be listed on the bourses after JSW Energy and JSW Steel. The ports business of the JSW Group filed the DRHP on May 9. Going by the draft papers, the IPO is purely a fresh issue of equity shares with no offer-for-sale (OFS) component, and the promoters will not be diluting their current stake through the issue. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP). JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers. As of December 31, 2022, JSW Infrastructure had a net debt of Rs 2,875 crore. The company had a profit after tax (PAT) of Rs 447.2 crore in October-December 2022-23 and Earnings Before Interest, <keyword id="6368033" type="General" weightage="50" keywordseo="taxes" source="Orion">Taxes</keyword>, Depreciation, and <keyword id="990685" type="General" weightage="50" keywordseo="amortisation" source="Orion">Amortisation</keyword> (EBITDA) of Rs 1,268.6 crore. JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers. The equity shares are proposed to be listed on BSE and NSE. Besides, the Sajjan Jindal-owned JSW Group is also into cement, paints, venture capital and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/receiving-calls-from-international-numbers-starting-with-254-84-63-report-and-block-say-experts/articleshow/100132580.cms">Receiving calls from international numbers starting with +254, +84, +63...; report and block, say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/ibm-partners-with-nasa-to-monitor-natural-disasters-and-climate-change-using-ai/articleshow/100132462.cms">IBM partners with NASA to monitor natural disasters and climate change using AI</a>

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

<ul class="summary-list"><li>NHL-bound Russian <keyword id="12214124" type="UNKNOWN" weightage="60" keywordseo="hockey" source="Orion">hockey</keyword> players may be in a precarious position thanks to <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>'s war.</li><li>A Philadelphia Flyers goalie prospect was "sent to a military facility in the far north and has no ability to communicate," his agent told Insider.</li></ul>Four months after Russian forces invaded Ukraine, the nation's standing in the hockey community is heading into uncharted territory.Russia has not only shown a willingness to detain international stars, such as WNBA star center <a href="https://www.insider.com/brittney-griner-russia-detention-extended-trial-will-never-happen-expert-2022-6">Brittney Griner</a>, but also an iron fist leveled toward its own hockey players. <a href="https://www.insider.com/flyers-goalie-ivan-fedotov-detained-russia-accused-of-draft-dodging-2022-7">Ivan Fedotov</a>, a Philadelphia Flyers goalie prospect selected 188th overall in the 2015 <keyword id="14386126" type="UNKNOWN" weightage="60" keywordseo="nhl-draft" source="Orion">NHL draft</keyword> and considered a contender for the team's backup netminder spot, was sent to the arctic on military duty last week."He was sent to a military facility in the far north and has no ability to communicate. That's all the information we have," JP Barry, Fedotov's agent, told Insider. remlin spokesperson Dmitry Peskov did not address Fedotov directly when asked about the case, according to <a href="https://www.espn.com/nhl/story/_/id/34197727/ivan-fedotov-remote-military-base-northern-russia-agent-philadelphia-flyers-goalie-prospect-says">ESPN</a>."We have a draft in line with the law, so any emotional commentaries would be utterly inappropriate,"Peskov said. "There are certain reasons for deferments and various ways of undergoing military service for athletes."<keyword id="14386127" type="UNKNOWN" weightage="60" keywordseo="kirill-kaprizov" source="Orion">Kirill Kaprizov</keyword>, a star winger for the <keyword id="11909846" type="UNKNOWN" weightage="60" keywordseo="nhl" source="Orion">NHL</keyword>'s Minnesota Wild, became the subject of confusion on Wednesday after reports emerged from Russia saying he is wanted for allegedly purchasing a military ID before returning to the US. Kaprizov's agent <a href="https://twitter.com/RussoHockey/status/1544714704995504128?s=20&amp;t=MHDKd1qNDT9Q5DrEq6lXaQ">told The Athletic</a> that the player has yet to return.NHL general managers have even wanted stars as big as Washington Capitals captain Alexander Ovechkin — who has enjoyed a <a href="https://www.washingtonian.com/2022/03/11/what-you-should-know-about-alex-ovechkin-and-vladimir-putins-relationship/">relatively close relationship with Putin</a> — to consider not returning to Russia over the off-season, according to <a href="https://theathletic.com/3388771/2022/07/01/nhl-russia-putin-ukraine/">The Athletic</a>. (Ovechkin went back anyway.)Going back to the Soviet Union, hockey has been the premier Russian sport and a source of <a href="https://dictionary.cambridge.org/us/dictionary/english/soft-power">soft power</a>, but uncertainty over the status of its players has reached a level not seen since the Cold War, when players from the Soviet Red Army team had to <a href="https://www.freep.com/story/sports/nhl/red-wings/2018/03/16/russian-five-sergei-fedorov-detroit-red-wings-keith-gave-book/405573002/">defect to the United States</a> to play in North America. Thursday night's 2022 NHL Entry Draft will be an early test of how comfortable front offices around the NHL feel about putting their confidence in Russian players."The hesitation was evident as soon as the invasion of Ukraine began because there was a fear that Russia would tighten up their borders for defectors as they have," Tony Ferrari, a draft analyst for The Hockey News, told Insider."Recently, the Ivan Fedotov detainment has been seen as Russia setting an example for young Russian players who plan on leaving the country for the NHL and North American in general," Ferrari continued. "This level of uncertainty and the lack of Canada and the US granting work visas — or visas of any kind — to Russian nationals has made drafting a Russian-born player a major risk."Ferrari explained that, previously, Russian players faced a "mostly outdated" hesitancy from some teams in the post-Soviet era, largely because of the lengthy contracts teenage players would sign in Russia's KHL, widely considered the second best professional league in the world.However, with the invasion of Ukraine, some teams won't even make a bargain pick for a top Russian player later in the draft — such as Pavel Mintyukov and Danila Yurov, both <a href="https://thehockeywriters.com/2022-nhl-drafts-top-10-russian-prospects/">ranked in the top 10 by the NHL Central Scouting Report</a> for their North American and European skaters — according to Ferrari."There are multiple teams I've spoken to that have taken Russians off their board in the first three rounds, and there have been rumors of others taking the Russian players off their boards completely this year," Ferrari said."Hockey, and <keyword id="11893855" type="UNKNOWN" weightage="60" keywordseo="sports" source="Orion">sports</keyword> in general, are ultimately a business," he added. "Putting your money in a sinking asset isn't going to work in business of any sort and currently, NHL teams often view the Russian market as a sinking asset."Senior sports editor Sarah Kwak contributed reporting for this article.

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Gradey Dick gave main character energy when he wore a dazzling red blazer inspired by Dorothy from 'The Wizard of Oz' to the NBA Draft

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