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<ul class="summary-list"><li>Joe Biden won in Maryland, per Decision Desk HQ.</li><li>Maryland has voted for a Democrat in nine of the last 12 presidential <keyword id="6355644" type="DEFINITION" weightage="60" keywordseo="elections">elections</keyword>.</li><li>The state has 10 electoral votes.</li><li>Democrats hold nine of the state's 10 congressional seats.</li><li>See the live coverage and <a href="https://www.businessinsider.com/2020-election-results">full results from the US presidential election</a>.</li></ul>Joe Biden won Maryland in the 2020 presidential race, according to Decision Desk HQ.Maryland has voted Democratic in nine of the last 12 presidential elections, reliably serving as a mainstay of the Democratic nominee's electoral-vote count.The state is not home to any competitive down-ballot races in the House or the Senate or for governor.Control over Maryland's state government is split: The governor is a Republican, while the Democrats hold both chambers of the state's Legislature.In Congress, Maryland's delegation is majority Democratic, with nine of 10 congressional seats.The state has 10 electoral votes, and <a href="https://projects.fivethirtyeight.com/2020-election-forecast/maryland/">analysts did not expect it to be competitive</a>.

Joe Biden has won Maryland

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

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

Hi, Aaron Weinman here! Today, <a href="https://www.businessinsider.com/credit-suisse-anthony-kontoleon-removal-messaging-app-06-2022">I want to chat WhatsApp</a>. It's easily my most-used app, and the simplest way to communicate with family and friends abroad.I also talk to Wall Streeters on WhatsApp, but the US government's investigation into record-keeping at banks might nix my chances of getting folks to spill the tea.Before we dive in, the <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-fed-rate-hike-inflation-futures-ecb-meeting-2022-6">Federal Reserve is making a crucial policy decision today</a>, and is expected to take aggressive action on interest rates to tackle inflation. <a href="https://www.cbsnews.com/video/fed-likely-to-hike-interest-rates-amid-soaring-inflation/#x" target="_blank" rel="noopener noreferrer">I stopped by CBS News</a> to discuss the impact of an interest rate hike. Here we go. If this was forwarded to you,<a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street"> sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/credit-suisse-anthony-kontoleon-removal-messaging-app-06-2022"></a>1. Bankers are getting more jittery about using encrypted chat apps. Credit Suisse "removed" its global head of equity capital markets syndicate because he used unapproved chat apps with clients, the <a href="https://www.ft.com/content/0caa0690-1020-40b8-83bf-1db27afe9ed6?accessToken=zwAAAYFilYMckc8MqgaQECBAuNODvx2yev6e1g.MEUCIE0WzILgunEGc2Bkc9XsrPmS6Eu9jWJTHNKVWqWopeCkAiEAySYJpM8bQmuSNllierqK8UnY_bossv-tbXY7irfYJlE&amp;sharetype=gift?token=98828f56-a2e3-47c0-90b6-6e1822189b8b">Financial Times reported</a>.Anthony Kontoleon, or "AK," is one of the "most-respected" folks in the ECM space, and bankers were surprised at his removal.The thought that unapproved messaging apps like WhatsApp or Signal could lead to such a senior departure has some bankers worried that similar removals are forthcoming.The US SEC's <a href="https://www.thomsonreuters.com/en-us/posts/investigation-fraud-and-risk/sec-record-keeping-violations/">investigation into record-keeping practices at banks</a> — and banks' subsequent requests to review staffers' phones — forces dealmakers to rethink how they communicate with clients. Bankers told me they can schedule a meeting via WhatsApp, but business must be conducted through approved communication channels like email.But one banker reckoned scheduling a meeting could be construed as business, so he's contemplating ditching WhatsApp. Another said he'll delete all our communication because talking to reporters is grounds for dismissal.Importantly, bankers and clients regularly communicate via encrypted apps. Investment banking is a relationship business. Bankers spend years nurturing client ties, which inevitably leads to informal conversations. Parsing through these chats is a cumbersome process, and bankers will be loathe to ask clients to restrict their conversations.What started as <a href="https://www.businessinsider.com/wall-street-bankers-livid-over-sec-probe-private-messages-whatsapp-2022-5">feelings of frustration</a> is morphing into concern for bankers, as the SEC cracks the whip, and banks incorporate ways to ensure their communication methods comply with regulatory requests.Here's a report from Rebecca Ungarino, Hayley Cuccinello, and myself on <a href="https://www.businessinsider.com/credit-suisse-anthony-kontoleon-removal-messaging-app-06-2022">how Wall Street reacted to AK's departure and what this might mean for future communication efforts</a>.In other news:<a href="https://www.businessinsider.com/coinbase-layoffs-1100-employees-amid-crypto-bloodbath-2022-6"></a><div type="image" title="Coinbase man shadow" height="3326" width="4435" msid="92231849" hostid="261"></div>2. Coinbase has laid off 18% of its full-time workforce. The crypto exchange's CEO Brian Armstrong said the company grew "too quickly" during the good times, but now <a href="https://www.businessinsider.com/coinbase-layoffs-1100-employees-amid-crypto-bloodbath-2022-6">needs to cut costs and brace for a possible recession</a>.3. Goldman Sachs-backed Slync hasn't paid its staff in over a month. The Wall Street bank's growth-equity arm led a $60 million funding round for the supply-chain startup in February last year. Management <a href="https://www.businessinsider.com/goldman-backed-startup-slyncio-hasnt-paid-staff-in-a-month-2022-6">blamed the payment debacle on software issues</a>.4. Celsius hires restructuring lawyers. The crypto lending firm hopes the lawyers will help it <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcrypto-lender-celsius-hires-restructuring-lawyers-after-account-freeze-11655250575">navigate its sticky financial situation</a>, after it recently froze account withdrawals. Customers now have thousands of dollars trapped in the platform, <a href="https://www.businessinsider.com/celsius-crypto-lending-customers-frozen-withdrawals-liquidity-defi-2022-6">and no idea what's going to happen to their money</a>. 5. BlackRock, Invesco, and BankUnited dealmakers are tallying a $300 million fund. The Wall Street trio are launching a <a href="https://www.businessinsider.com/blackrock-invesco-bankunited-private-equity-credit-o15-2022-6">firm to back underrepresented entrepreneurs</a>.6. Vista Equity Partners' CEO is teaming up with Base10, the largest Black-led VC firm. The pair are coming together to support HBCUs. These college endowments have often been <a href="https://www.businessinsider.com/base10-partners-vista-equity-support-hbcu-endowments-venture-capital-2022-6">barred from investing in venture capital and private equity</a>.7. Twitter insiders fret that Musk will use a "firehose" of data to revise his $44 billion deal for the company. Musk's requests for more information around user data have been granted, and some suspect he'll leverage the knowledge to <a href="https://www.businessinsider.com/elon-musk-twitter-bots-data-renegotiate-acquisition-deal-2022-6">bolster his claim of fake accounts</a>.8. Deutsche Bank ignored "obvious red flags" when vetting the über-rich. US shareholders can now sue the German bank over <a href="https://www.businessinsider.com/deutsche-bank-us-shareholders-lawsuit-over-russian-oligarchs-jeffrey-epstein-2022-6">alleged compliance failures, a New York judge has ruled</a>.9. An upscale, New York-based restaurant went vegan. Eleven Madison Park — where many a banker bonus has been spent — changed the menu, and <a href="https://www.businessinsider.com/eleven-madison-park-vegan-labor-shortage-chaos-2022-6">it's been a chaotic mess of a year</a>.10. Billionaire investor Leon Cooperman reckons US stocks will plunge 40%. The founder of Omega Advisors, who's net worth is estimated at $2.5 billion, predicted that <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-crash-us-recession-leon-cooperman-fed-rates-2022-6">the US would fall into a recession next year</a>.Moves on the Street:<ul><li>Citi made three new hires in its technology and communications team, hiring three experienced software bankers, according to an internal memo from Citi viewed by Insider:</li><ul><li>Dan McDow is joining as its global head of software after 16 years at Credit Suisse, where he was last its global head of software investment banking.</li><li>San Francisco-based Steve Anderson will join Citi as a managing director in software. He comes to the US bank from Barclays, where he spent 12 years covering software companies.</li><li>Andrew Delia is also joining as a MD in software. He previously worked at Credit Suisse for 10 years, also covering software names.</li></ul></ul>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aaronw11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Wall Street: WhoopsApp

market share in next 2 years Hyderabad, Mar 4 (): CK Birla Group firm OrientElectric is aiming for 25 per cent market share in the air-cooler segment in the next two years, a top official said onWednesday.The company, which is part of the USD 2.4-billion CKBirla Group, announced the launch of its new range of energyefficient inverter air-coolers powered by ECM (electronicallycommutated motor) technology, which is claimed to save upto 50per cent energy. Our new range of energy-saving ECMT-powered inverterair-coolers has been developed based on the strong consumerneed for energy efficiency with 50 per cent power savings,high-thrust air delivery, silent operation and convenience ofcontrol through IoT and voice controls, Orient Electric MD &amp;CEO Rakesh Khanna told reporters here.The company which has a market share of 12 per centcurrently is eyeing 25 per cent marketshare in the air-coolersegment in the next two years, he said.Khanna said they were intending to set up a newmanufacturing planta greenfield project in southern Indiawhich would start with manufacturing of fans and they were inthe process of identifying the places and in the process ofcompleting the business plan.Orients coolers range also includes smart air- coolerswhich are IoT-enabled, work on Wi-Fi and can also becontrolled by voice, said business head (Home Appliances) ofOrient Electric Salil Kapoor.Unlike conventional induction motors, the electronicallycommutated motors have voltage rectifiers and electroniccontrol circuit which eliminates friction and motor noise,thus enhancing service life while consuming less than 50 percent electricity as compared to induction motors,he said. VVKNVG NVG

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Joe Biden has won Maryland

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

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Wall Street: WhoopsApp

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Orient Electric launches new inverter air-coolers, eyes 25%

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