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LED lighting solution provider <keyword id="15151029" type="General" weightage="100" keywordseo="ikio-lighting" source="Orion">IKIO Lighting</keyword> Ltd on Thursday said it has fixed a price band of Rs 270-285 per share for its Rs 606-crore initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>). The issue will be open for public subscription during June 6-8 and the bidding for anchor investors will open on June 5, the Noida-based company said in a statement. The IPO consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity stocks by promoters Hardeep Singh and <keyword id="2491354" type="General" weightage="50" keywordseo="surmeet-kaur" source="Orion">Surmeet Kaur</keyword>. At the upper end of the price band, the initial share-sale will fetch Rs 606.5 crore. Proceeds from the fresh issuance worth Rs 50 crore will be used for debt payment, Rs 212.31 crore will be used in the company's wholly-owned subsidiary, <keyword id="17582560" type="General" weightage="50" keywordseo="ikio-solutions" source="Orion">IKIO Solutions</keyword>, to set up a new facility at Noida, <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>, and for general corporate purposes. The company said that half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for a minimum of 52 equity shares and in multiples of 52 equity shares thereafter. IKIO Lighting is a manufacturer of light-emitting diode (LED) lighting solutions. It is primarily an original design manufacturer (ODM) and designs, develops, manufactures and supplies products to customers who then further distribute these products under its brands. It has four manufacturing facilities with one located in the SIDCUL Haridwar industrial park in Uttarakhand and three in Noida in the National Capital Region. IKIO Lighting's revenue from operations jumped 55.47 per cent on year-on-year basis to Rs 331.84 crore in fiscal 2022 from Rs 213.45 crore in fiscal 2021 and profit after tax surged 75.37 per cent to Rs 50.52 crore from Rs 28.81 crore during the period. Motilal Oswal Investment Advisors is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on the BSE and NSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/royal-enfield-sales-rise-22-in-may-at-77461-units/articleshow/100679587.cms">Royal Enfield sales rise 22% in May at 77,461 units</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gst-collection-rises-12-to-1-57-lakh-crore-in-may/articleshow/100679573.cms">GST collection rises 12% to ₹1.57 lakh crore in May</a>

IKIO Lighting sets IPO price band at ₹270-285/share

<ul><li>Our focus is on aluminium forged components as the vehicles are going to get light weighted across segments because of the emissions norms, said B R Preetham, group chief executive officer at <keyword id="1734451" type="General" weightage="20" keywordseo="sansera-engineering" source="Orion">Sansera Engineering</keyword> in an interview with Business Insider.</li><li><keyword id="12014102" type="General" weightage="20" keywordseo="sansera-engineering-ipo" source="Orion">Sansera Engineering IPO</keyword> is opening from today and closes on September 16.</li><li>The company has already mopped up ₹382 crore from anchor investors ahead of the IPO while it is looking to raise ₹1,282 crore from an offer for sale of 1.72 crore shares. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>Just like Audi, BMW, Nissan and Porsche, are now making the switch from steel to aluminum for lightweight batteries in electric cars, r<a href="https://www.azom.com/article.aspx?ArticleID=20395">eportedly</a>, influenced by Tesla’s aluminum based design, an Indian auto parts maker opening its initial public offering today is hoping that Indian customers like Maruti, Bajaj Auto and Honda will also do the same. “One of our focused areas is aluminium forged components as you are aware the industry is going to get light weighted both in passenger vehicles and two-wheelers whether it is electric or not. Lightweighting is going to happen because of the emissions norms,” said B R Preetham, group chief executive officer at Sansera Engineering in an interview with Business Insider. Aluminium is lighter than steel, better for recycling and reduces emissions. Due to its upcoming IPO compliance requirements, Preetham did not reveal their overall investment towards this segment but mentioned, “we have invested a lot in the aluminium forgings and thereby expect increasing revenue from it further,” said Preetham. Sansera Engineering’s IPO opens today and closes on September 16 The company is looking to raise ₹1,282 crore from an offer for sale of 1.72 crore shares at a price band ₹734-744. Ahead of the IPO, the company had mopped up ₹382 crore from anchor investors. Government of Singapore, Abhu Dhabi Investment Authority, Axis MF, ICICI Prudential MF are some of the anchor investors who bought the IPO. The allotment of the shares will be revealed on September 21 and the shares will be listed on September 24. The verdict from analysts has been a mixed one. Ventura Securities argues that the IPO is overpriced and that the return on investment may be the worst in the sector. Whereas, those at BP Wealth rated the IPO as ‘subscribe’ citing “the strong product portfolio, advanced manufacturing capabilities and robust track record.” <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Existing shareholders selling via IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current stake </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stake to be sold via IPO </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client Ebene </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.85% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.35 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CVCIGP II Employees EBENE </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.96% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48.36 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">S Sekhar Vasan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.90% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.58 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unni Rajagopal K </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.36% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">D Devaraj </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.11% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FR Singhvi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.27% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71 lakh shares </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> This is Sansera Engineering’s second attempt to go public. Earlier, it had filed for an IPO with the market regulator in August 2018. Reportedly, it had received a nod to float the public issue, but it did not go ahead with the <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/sansera-engineering-gets-sebis-go-ahead-to-launch-ipo/articleshow/85190914.cms">launch</a>. Sansera wants a share in the electric vehicles pie Meanwhile, the company is also expanding its component services to the electric vehicle segment. “Only 6% of our business is under that (electrification). But having said that we have already started our journey into electrification, we have secured orders from new age startups who are setting up huge facilities for electric two wheelers. We are going to supply about 8 components to them,” added the company management in an interview. On being asked if the new customer was Ola, Preetham refused to disclose the name of the customer but said that it was, indeed, a well-known startup. <div type="image" title="sansera chart" height="900" width="1200" msid="86188995" hostid="261"></div> As of July 31, 2021, Sansera Engineering has 16 manufacturing facilities, of which 15 are in India in the states of Karnataka, Haryana, Maharashtra, Uttarakhand and Gujarat, and one facility is in Trollhättan, Sweden Within the automotive sector, the company manufactures and supplies a range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminium forged parts. Within the non-automotive sector, it manufactures and supplies a range of precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/online-pharmacy-startup-pharmeasy-is-looking-to-hire-200-engineers-in-hyderabad-pune-and-delhi-before-the-ipo/articleshow/86168091.cms">Online pharmacy Startup PharmEasy is looking to hire 200 engineers in Hyderabad, Pune and Delhi before the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-zee-entertainment-infosys-and-other-top-stocks-to-watch-out-for-on-september-14/slidelist/86188036.cms">Zee Entertainment, Infosys, Ami Organics, and other top stocks to watch out for on September 14</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-zee-entertainment-infosys-and-other-top-stocks-to-watch-out-for-on-september-14/slidelist/86188036.cms"></a>

INTERVIEW:  An auto parts maker for Maruti, Bajaj and Honda is betting that Indian car makers will take a leaf out of Tesla’s playbook

<ul><li>Sansera Engineering is looking to raise between ₹1,282 crore from a complete offer for sale of 1.72 crore shares in the IPO.</li><li>The Bengaluru-based firm’s IPO has been fully subscribed on the second day of IPO bidding process.</li><li>Most analysts suggest subscribing to the IPO for the long term considering strong product portfolio, robust track record and optimism over auto component industry growth.</li></ul>Today is the last day to subscribe to Bengaluru-based auto component manufacturer Sansera Engineering’s initial public offering (IPO) that started from September 14. The IPO application is live from 10 a.m. to 5 p.m. So far, the initial public offering (IPO) of the company has received good response from investors given it has been fully subscribed in the first two days. The IPO has received bids for 1.23 crore shares as against 1.21 crore shares for issue. However, the grey market suggests premium has turned around for the IPO as it has come down to ₹10 premium per share from ₹80 earlier reflecting a poor sentiment. Meanwhile, analysts suggest investors to bid for the IPO keeping in mind long term investment. <table style="border-width: initial; border-style: none;"></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;">Brokerage firms </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;">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;">BP Equities </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;">Angel 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;">Kotak Securities </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;">Not rated </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;">Not rated </td></tr></tbody></table> Considering the strong product portfolio, advanced manufacturing capabilities and robust track record, we give a “SUBSCRIBE” rating for the long term, said a report by BP Equities. The report took into consideration the company’s top position in supplying connecting rods within the light vehicle segment and commercial vehicle segment for calendar year 2020. Besides, the company has strong relationships with respected Indian and global original equipment manufacturers. Moreover, the company has shifted its focus towards aluminium forged components while manufacturing auto components for vehicles including electric vehicles as it believes it has better revenue prospects. This is in line with foreign auto majors -- Audi, BMW, Nissan and Porsche -- who are also making the switch from steel to aluminum for lightweight batteries in electric cars <a href="https://www.azom.com/article.aspx?ArticleID=20395">reportedly</a>. “One of our focused areas is aluminium forged components as you are aware the industry is going to get light weighted [sic] both in passenger vehicles and two-wheelers whether it is electric or not. Lightweighting is going to happen because of the emissions norms,” said B R Preetham, group chief executive officer at Sansera Engineering in an interview with Business Insider. Analysts at Choice Broking say that likely strong revenue growth and healthy EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin over 15% to boost profitability in the coming future. The company’s gaining market share across automotive and non-automotive sectors, well-diversified business model with a strong customer base, geographical spread of revenues from India and foreign countries and diversified revenue stream from vehicle segments have impressed analysts at Religare Broking. “On the financial front, the company’s performance has been steady and it would continue to focus on improving operating efficiencies. We have a positive view on the stock from the long term perspective,” said a report by the broking firm. Peer companies to Sansera Technologies have recorded upto to 86% returns in 2021 so far. <table style="border-width: initial; border-style: none;"></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;">Peer companies </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;">% year-to-date returns </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;">Endurance Technologies </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;">19% </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;">Minda Industries </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;">86% </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;">Sundram Fasteners </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;">77% </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;">Suprajit Engineering </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;">62% </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;">Motherson Sumi System </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;">37% </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;">Mahindra CIE Automotive </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% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-valued-at-almost-200-billion-closer-to-us-listed-peer-accenture-with-216-billion/articleshow/86251290.cms">TCS valued at almost $200 billion, closer to US-listed peer Accenture with $216 billion</a>

Last day to bid for auto components maker Sansera Engineering IPO; grey market indicates ₹10 premium

<ul class="summary-list"><li>Reeves Wiedeman is a business journalist whose work has been featured in New York Magazine, the New Yorker, Rolling Stone and other major publications.</li><li>The following is an <keyword id="1591634" type="PERSON" weightage="60" keywordseo="Excerpt">excerpt</keyword> from his new book, "<a href="https://www.amazon.com/Billion-Dollar-Loser-Spectacular-Neumann/dp/0316461369">Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork.</a>"</li><li>In it, Wiedeman shares a glimpse into Neumann's extensive list of accommodations for his VIP campsite at <keyword id="2918346" type="PERSON" weightage="60" keywordseo="WeWork">WeWork</keyword>'s 2018 Summer Camp in London, a retreat where all 6,000 of WeWork's employees gathered after the company secured a $1 billion investment from SoftBank. </li><li>Wiedeman vividly chronicles the cofounder's ambitious vision and aspirations for WeWork, including solving world hunger, rescuing orphans and abused children, and helping minorities. </li><li>"For those attending their first Summer Camp, the crowd had a strange energy, erupting into a cheer of 'Olé, olé, olé' when the three founders appeared onstage. An employee from India started chanting, 'Let's go, WeWork, let's go!' Another, from California, screamed, 'You're changing the world, Adam!'"</li></ul>No one knew that WeWork's 2018 Summer Camp would be its last, but there was plenty to celebrate: SoftBank had just agreed to invest an additional $1 billion in the company. WeWork flew its six thousand employees to London, hired Lorde to perform, and had to quickly find replacement food trucks to meet the company's new dietary restrictions.<div type="image" title="Billion Dollar Loser" height="2600" width="1677" msid="78835658" hostid="261"></div>Employee accommodations remained humble — air mattresses in tents — but a pair of campsites was set aside for the company's founders, with only those holding a VIP wristband allowed to access them. WeWork's event team had a one-page list of requests for Miguel's campsite: a fire pit, some Popchips, and enough beer, wine, and coconut water to last the long weekend.Read more: <a href="https://www.businessinsider.com/employees-inside-adam-neumanns-wework-reveal-a-wild-culture-2019-9?r=wework-lp">Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked it</a>Adam and Rebekah had a longer list. The Neumanns had flown to Summer Camp on WeWork's brand-new Gulfstream jet, which the company had purchased for more than $60 million at Adam's behest under an LLC called Wildgoose I. Adam and Rebekah's list of items to be stocked in their Summer Camp compound went on for three and a half pages.<h2>Accommodation &amp; Compound</h2><ul><li>Standard Tent House Suite via Raj Style</li><li>Heating</li><li>A/C (3 aircon units)</li><li>1 king bed (+ mattress pad)</li><li>4 twin beds (2 in each of 2 rooms)</li><li>1 crib</li><li>1 high chair</li><li>Towels, blankets, citronella candles</li><li>4 Vienna Two Seater + chairs (for 12)</li><li>8 Picnic tables for 40 people</li><li>1 Stockholm large coffee table</li><li>2 fridges</li><li>2 fire bowls</li><li>1 Woodsman's awning</li><li>RV</li></ul><h2>Transport</h2><ul><li>3 buggies (two for our office team, 1 set aside for family) — dinosaur themed</li><li>1 buggy for WW security team</li><li>1 Shuttle bus to bring wristband guests to and from the main arena</li><li>Signature Range Rover for Rebekah/Adam use</li><li>Mercedes V Class </li></ul><h2>Staffing</h2><ul><li>24/7 security guard </li><li>2 24/7 drivers </li><li>2 dedicated bartenders</li></ul><h2>Supplies</h2><ul><li>4 cocktail shakers </li><li>At least 400 plastic shot glasses — bring extra from the office</li><li>Plastic cups</li><li>Thick paper plates</li><li>Wooden utensils</li><li>Paper towels</li><li>Straws (sealed in paper)</li><li>6 wine keys</li><li>6 bottle openers</li><li>4 Aesop Geranium Hand Soap</li><li>4 Aesop Gardenia Shower Gel</li><li>4 Aesop Gardenia Shampoo</li><li>4 Aesop Gardenia Conditioner</li><li>Printer</li></ul>Read more: <a href="https://www.businessinsider.com/wework-settlement-woman-threatened-expose-claims-drugs-sex-real-estate-2020-2">WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document</a><h2>Market</h2><ul><li>Sliced red peppers x 6</li><li>Cucumbers x 6</li><li>Platter of fresh sliced fruit (two per day) </li><li>Nuts (unsalted)<ul><li>Cashews x 3</li><li>Pistachios x 3</li><li>Almonds x 3</li><li>Walnuts x 3</li></ul></li><li>SkinnyPop popcorn (12 packs)</li><li>Lemons x 10</li><li>Limes x 30</li><li>LaCroix Lime 6 packs x 4</li><li>Hot Water — or the ability to get boiling water — ideally having an electric tea kettle setup</li><li>Dairy-free Oatmeal packets</li><li>Dates x 3</li><li>Sugar Free Red Bull 12 pack x 3</li><li>Regular Red Bull 12 pack x 3</li><li>Ice</li><li>Ginger root</li><li>Chocolate bars</li><li>Edamame packets</li><li>Kind Bars</li><li>Guacamole singles</li><li>Peanut butter squeeze packets</li><li>Tea<ul><li>Chamomile</li><li>Hibiscus</li><li>Peppermint</li><li>Mother's Milk</li></ul></li><li>Filtered Water</li><li>Fresh squeezed orange juice</li><li>Oat milk or soy milk</li><li>Wasa Multigrain</li><li>Wasa Crisp 'n Light</li><li>Wasa Light Rye cracker x 4</li><li>Sliced green apples</li><li>Organic fresh-pressed peanut butter</li><li>Mixed berry jelly</li><li>Avocado</li><li>Crudite platters (whatever veggies are fresh)</li><li>Heirloom tomatoes</li><li>Fresh basil</li><li>Fresh mozzarella</li><li>Extra virgin olive oil</li><li>Vegetarian sushi rolls</li><li>Baguette</li><li>Salt and pepper (in the grinders)</li><li>Health Warrior Pumpkin seed bar packages x 3</li><li>Enlightened Broad Beans (snack pack size) x 6</li><li>RX Bars variety pack x 3</li></ul>The rider ended with a list of alcohol requests that could have covered most of an entry-level WeWork salary, beginning with two bottles of Highland Park 30-year-old single-malt Scotch — retailing at $1,000 each — and concluding with a request from Rebekah for the ingredients necessary to make Bellinis, mimosas, and white wine sangria.<h2>Booze</h2><ul><li>Highland Park 30 yrs x 2</li><li>17 year Hibiki x 1</li><li>3 Hibiki Harmony</li><li>18 year Macallan x 4</li><li>Stoli Elit / Tito's x 24</li><li>12 cases of Don Julio 1942</li><li>16 bottles Kosher red wine (Chateau Pontet-Canet 2003)</li><li>8 bottles Kosher red wine (Petit Castel 2014)</li><li>24 bottles Kosher white wine (Château Clos Haut-Peyraguey Sauternes 2014)</li><li>72 bottles of Peroni</li><li>72 bottles of Heineken</li><li>72 bottles of Corona Light</li></ul>One afternoon at camp, WeWork's employees were herded toward the Creator Stage, coaxed along by a small marching band playing the White Stripes' "Seven Nation Army" on an endless loop. Adam, Miguel, and Rebekah were scheduled to host a panel; the vegetarian food trucks were told to hold off on serving meals, leaving their employees to fend off desperate bribes from drunk and hungry WeWorkers.For those attending their first Summer Camp, the crowd had a strange energy, erupting into a cheer of "Olé, olé, olé" when the three founders appeared onstage. An employee from India started chanting, "Let's go, WeWork, let's go!" Another, from California, screamed, "You're changing the world, Adam!"Neumann had certainly come to believe in his ability to do just that."The influence and impact that we are going to have on this earth is going to be so big," he said, wearing a T-shirt that read let's meat in the middle.A few weeks earlier, after the shocking news that both Kate Spade and Anthony Bourdain had died by suicide, Adam had stood up at a company town hall and told his employees that if they were ever feeling depressed or suicidal they should reach out to him directly. At Summer Camp, he relayed what he described as good news: One of his employees had done just that, and was in the crowd today, doing fine.Read more: <a href="https://www.businessinsider.com/wework-second-quarter-financial-results-membership-numbers-2020-8?r=wework-lp">WeWork nabbed a fresh $1.1 billion in financing from SoftBank as the coworking giant's membership dropped</a>As he had on other occasions, Adam shared some of the difficulties of his childhood, and he and Rebekah expressed a desire to solve the problems plaguing children in even less fortunate situations. "One of my biggest dreams for We," Rebekah told the crowd, "is that we'll be able to build communities around the world where children who are not in the right situation could come and live forever, basically."Adam jumped in. "There are 150 million orphans in this world today," he said. "If we do the work right, we could wake up one day and say, 'We want to solve the problem of children without parents in this world' — and do it, within two years.""And children who are in abusive situations," Rebekah said.Adam agreed. "Then we can go to any minority, and anyone who is weaker, who is getting taken advantage of by someone who is more powerful," he said. "And from that we can go to world hunger. There's so many topics that we can take one by one, and we will be able to tackle anything that we set our minds to."Rebekah went on to express her gratitude to Adi Neumann, who was in the crowd, for funding Adam's early life back in New York. "You helped him create the biggest family in the world," Rebekah said. "A big part of being a woman is to help men manifest their calling in life."From the book "Billion Dollar Loser" by Reeves Wiedeman. Copyright © 2020 by Reeves Wiedeman. Reprinted by permission of Little, Brown and Company, New York, NY. All rights reserved.<div type="image" title="Reeves Wiedeman (Credit Makayla Booker)" height="1602" width="2136" msid="78835662" hostid="261"></div>Reeves Wiedeman is a contributing editor at New York magazine, and has written for the New Yorker, the New York Times Magazine, Rolling Stone, Harper's, Men's Journal, and other publications. He lives in Brooklyn but still calls Kansas City home.

Cases of Don Julio 1942 and a signature Range Rover: Here's an inside look at Adam Neumann's wild list of must-haves for WeWork's rowdy all-staff summer sleepaway party

<ul><li>In its board meeting, the Securities and Exchange Board of India has allowed the issuance of <keyword id="145734" type="PERSON" weightage="20" keywordseo="differential-voting-rights">Differential Voting Rights</keyword> for listech tech companies. </li><li>This will help promoters keep control of their company without having to dilute their power for financial help.</li><li>This is a positive step which will help companies head for an IPO in an easier manner.</li></ul>India’s Securities and Exchange Board of India has allowed Differential Voting Rights for listed companies in its board meeting which was held today. With Differential Voting Rights, companies whose promoters hold skill and talent to run the business can sell shares giving away their control in the company. This new framework comes in handy for companies who do not want hostile takeovers by investors. A recent case in point is the L&amp;T’s hostile takeover of Mindtree, where the former took a <a href="https://www.livemint.com/companies/news/with-60-stake-l-t-completes-its-hostile-takeover-of-mindtree-1561536743325.html">60%</a> controlling stake in the latter. "Raising equity on a periodic basis leads to dilution of founder/ promoter stake, which can be effectively addressed through the use of DVRs as a mode of capital raising.This is especially relevant for new technology firms which have asset light models, with little or no need for debt financing,” the <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> discussion paper on the issue had noted. "Having a specific listing framework for DVRs of tech start-ups only shows that SEBI recognises the need to encourage entrepreneurship in nano-technology and biotech. India had been wary of introducing this in the past because many listed companies in India are promoter driven till date. The introduction and success of DVRs also requires balancing other concerns. It remains to be seen how this pans out from a corporate governance viewpoint,” said Sumit Agrawal of Regstreet Law &amp; ex-Sebi official. But will the issuance of DVR make it easier for startups in India to head the IPO way? Experts believe it is at least the first right step. “Superior rights to be considered as ‘control’ under takeover code, relaxation from lock-in requirements before IPO, implementation of sunset clause and threshold to consider such superior shareholders a part of promoter group, are some issues requiring clarity. Right now, it’s only a policy approval from SEBI, the letters of law in gazette notification is yet awaited.” said Agrawal.

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