<ul><li>The government has asked railway company <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> to share 50% of its revenue from convenience fees.</li><li>The development may impact the company’s revenues going ahead.</li><li>Shares of the company ended nearly 12% higher today as the stock got split in the ratio of 1:5.</li></ul>India’s Ministry of Railways has asked the Indian Railway Catering and Tourism Corporation (IRCTC) to share 50% of revenues coming from service charts on e-ticketing, i.e., convenience fees, with the government. The company will start sharing half of the convenience fees with the government from November 2021. The development might impact the company’s revenue coming from the e-ticketing service charge segment. In FY21, IRCTC earned ₹299 crore from this segment, which is almost 40% of its revenue from operations of ₹783 crore. So far, IRCTC did not share revenues from this segment with the Indian government. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Convenience fees </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;">Charges per ticket </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;">AC class </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;">₹30 plus goods and services tax (GST) per ticket` </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non AC class </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;">₹15 plus GST per ticket </td></tr></tbody><tbody></tbody></table> Shares of the company ended nearly 12% higher on October 28 as the stock got split in the ratio of 1:5. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/easemytrip-makes-its-first-acquisition-in-13-years-to-strengthen-its-hotel-offerings/articleshow/87337496.cms">EaseMyTrip makes its first acquisition in 13 years to strengthen its hotel offerings</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-ports-share-price-tumbles-due-to-poor-results-myanmar-exit/articleshow/87328012.cms">Adani Ports share price tumbles due to poor results, Myanmar exit</a>

IRCTC will lose a chunk of its revenue to the Indian government starting next month

<ul class="p-rich_text_list p-rich_text_list__bullet"><li>A media report said that DIPAM Secretary confirmed the withdrawal of its decision of sharing revenue from convenience fees.</li><li>The government had yesterday asked <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> to share 50% of revenue coming from service charts on e-ticketing, i.e., convenience fees.</li><li>Shares of IRCTC, which had slipped more than 25% on Friday morning, recovered on this news.</li></ul>The Indian government has reportedly withdrawn its decision of asking 50% of Indian Railway Catering and Tourism Corporation’s (IRCTC) revenue from convenience fees. CNBCTV-18 reported that the secretary at the department of investment and public asset management (DIPAM) confirmed the withdrawal of its decision of sharing revenue from convenience fees. Shares of IRCTC recovered after a sharp fall on Friday morning trade on the announcement of sharing half of its <a href="https://www.businessinsider.in/business/corporates/news/government-asks-irctc-to-share-half-of-its-convenience-fees-revenue/articleshow/87338962.cms">convenience fees </a>with the government. On October 28, after the railway company informed stock exchanges of the government’s decision, many investors had criticised the move on social media portals. Shares of Indian Railway Catering and Tourism Corporation recovered after losing more than 25% in the early trade on announcement of government asking IRCTC 50% of revenue coming from service charts on e-ticketing, i.e., convenience fees, with the government. The move came as a big shock to investors as it meant IRCTC would have to share a chunk of its revenue with the government. In FY21, IRCTC earned ₹299 crore from this segment, which is almost 40% of its revenue from operations of ₹783 crore. At 11:11 a.m. shares of the company were trading 4% lower at 875.95 per share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/irctc-infosys-interglobe-aviation-and-other-trending-stocks-on-october-29/slidelist/87352424.cms">IRCTC, Infosys, InterGlobe Aviation and other trending stocks on October 29</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/zerodha-founders-rakesh-jhunjhunwala-zohos-radha-vembu-akshay-kumar-and-more-donate-up-to-50-crore-in-fy21/slidelist/87340238.cms">Zerodha founders, Rakesh Jhunjhunwala, Akshay Kumar and more donate up to ₹50 crore in FY21</a>

IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share

<ul><li><keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword> is set to announce its fourth-quarterly results on July 10.</li><li>This time due to the “outbreak of COVID-19, there has been a decrease in train journeys by the passengers due to restriction on public movement, which led to less number of ticket bookings during March 2020, resulting in a drop in e-ticketing earnings through convenience fee,” <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/6cd5901b-5ff6-4cf2-b635-22b6e20d4740.pdf">the company said</a>. </li></ul>Indian Railway Catering and Tourism Corporation (IRCTC) is set to announce its fourth-quarterly results on July 10 after postponing it once due to <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/6cd5901b-5ff6-4cf2-b635-22b6e20d4740.pdf">“unavoidable circumstances</a>.” The shares of the nearly $3 billion company have been trending down for a month now. The stock has lost about 9.28% in the last one month. <div type="image" title="IRCTC Stock Price (1)" msid="76866439" hostid="261"></div> Investors aren’t very hopeful of the company’s immediate prospects after it intimated stock exchanges of the <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/6cd5901b-5ff6-4cf2-b635-22b6e20d4740.pdf">material impact of COVID-19 pandemic on its revenue.</a> The coronavirus crisis forced people to avoid unessential travel. <div type="Article" hostid="261" msid="76618590" title="How does IRCTC make money" mstype="2" mssubtype="0"></div> As a player in travel and hospitality sector, IRCTC's prospects are dim but being a monopoly means everything that's on the table belongs to it. That would explain the spectacular margins it earns in different segments. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Margin </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Contribution to revenue </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ticketing </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.60% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Catering </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33-35% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37.50% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rail Neer </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">37% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.10% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tourism </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26-28% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.50% </td></tr></tbody></table>*All these are gross margins, except in ticketing, which is operating margin Source: Prabhudas Lilladher Analysts however see IRCTC as a good stock for the long term. “Despite near term challenges, we believe IRCTC is best placed to bounce back once COVID fear resides as structural levers remain intact... However, we would advise staggered buying and do not rule out near term weakness," a Prabhudas Lilladher report in April said, pegging a target price of ₹1,656, which would imply an 16% gain in the next one year compared to the share price on July 08. SEE ALSO: <a href="https://www.businessinsider.in/india/news/irctc-website-crashes-as-it-reopened-for-booking-after-50-days-now-it-will-be-open-for-bookings-from-6-pm/articleshow/75675640.cms" data-type="tilCustomLink">IRCTC website crashes as it reopened for booking after 50 days — now, it will be open for bookings from 6 pm</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-wipro-and-tech-mahindra-what-to-expect-from-earnings/articleshow/76865753.cms" data-type="tilCustomLink">TCS and Infosys to face least impact — Indian IT companies likely to report sharp decline in revenue during first quarter</a>

IRCTC shares on the edge waiting for the first lockdown earnings

<ul><li>From its issue price of ₹320, <keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword> share prices surged to ₹728 by the time the markets closed. </li><li>Even when IRCTC had opened for subscription between September 30 and October, it was oversubscribed 112 times.</li><li>In FY19, IRCTC’s total revenue stood at ₹19,566 million. </li></ul>Indian Railway Catering and Tourism Corporation (IRCTC) had a blockbuster debut on the stock exchanges today – as it doubled investor wealth on the very first day of its <keyword id="35212" type="PERSON" weightage="20" keywordseo="listing">listing</keyword>. From its issue price of ₹320, IRCTC share price rose to ₹728 by the time the markets closed. Its stock price rise was also aided by healthy global cues also pushed the Sensex up by 150 points in early trade, though it ended adding 87 points for the day. Owned by the Indian government, IRCTC is the only authorized company that sells Indian Railway tickets online. Since it virtually has no competition and railway tickets are constantly in demand, investors were excited with its IPO, which was oversubscribed by 112 times over. Being one of the world’s busiest sites for ticketing, IRCTC’s transaction volume averages between 25-28 million a month. In FY19, IRCTC’s total revenue stood at ₹19,566 million. “Levy of convenience fee on ticket bookings and commissioning of six new Rail Neer plants is expected to aid IRCTC’s revenue CAGR at 16% over FY19-21E,” IIFL securities had said in its IPO note. However, IRCTC also comes with its own risks since it serves only one client . “IRCTC’s business and revenues are substantially dependent on <keyword id="6355455" type="DEFINITION" weightage="20" keywordseo="indian-railways">Indian Railways</keyword>. Any adverse change in policy of the Ministry of Railways may adversely affect the business and financials,” IIFL Securities had said.

IRCTC doubles investor wealth as its stock surges 128% on listing

<ul><li><keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword> will offer shares within a price band of ₹940-₹980 per share, with a lot size of 15 shares.</li><li>The allotment will be announced November 10 and the IPO will be listed on November 15.</li><li>Another ₹375 crore would be invested to enhance <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>’s presence across international markets. </li></ul>PB Fintech — the parent company of insurance company PolicyBazaar and lending company PaisaBazaar — will launch its initial public offering (IPO) tomorrow. The company will offer shares within a price band of ₹940-₹980 per share, with a lot size of 15 shares. The allotment will be announced November 10 and the IPO will be listed on November 15. PolicyBazaar intends to raise ₹5,709 crore. The IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><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;">Event </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;">Date </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;">IPO Open Date </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;">November 1, 2021 </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;">IPO Close Date </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;">November 3, 2021 </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;">Basis of Allotment Date </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;">November 10, 2021 </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;">Initiation of Refunds </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;">November 11, 2021 </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;">Credit of Shares to Demat Account </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;">November 12, 2021 </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;">IPO Listing Date </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;">November 15, 2021 </td></tr></tbody></table> According to PB Fintech’s red herring prospectus (RHP), the company will use ₹1500 crore of the proceeds to create brand awareness for PolicyBazaar and PaisaBazaar. Besides this, PolicyBazaar will also invest an additional ₹600 crore on funding strategic investments and acquisition. About ₹375 crore will be used to increase the company’s customer base both online and offline. Another ₹375 crore would be invested to enhance PB Fintech’s presence across international markets. PolicyBazaar already has a presence in the Dubai market but has not decided to venture into other markets yet, the company said in a press conference on October 28. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/irctc-stock-recovers-losses-as-government-reportedly-withdraws-decision-on-convenience-fee-revenue-share/articleshow/87356555.cms">IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share</a> <a href="https://www.businessinsider.in/finance/news/shaktikanta-das-to-be-rbi-governor-for-three-more-years-till-december-2024/articleshow/87353252.cms">Shaktikanta Das to be RBI Governor for three more years till December 2024</a>

PolicyBazaar’s IPO to open on November 1 — check last date, listing date and more

<ul><li>The retail investors have subscribed to <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>’s IPO 2.61 times, according to the stock exchange.</li><li><keyword id="10858430" type="General" weightage="20" keywordseo="nykaa-ipo" source="Orion">Nykaa IPO</keyword>’s allotment will be announced on November 8, on the stock exchange on November 11.</li><li>It also plans to increase its international presence by foraying into the Middle East as well as the United Kingdom.</li></ul>Fashion and beauty ecommerce platform Nykaa’s initial public offering (IPO) has been subscribed 1.73 times so far. The company launched its public issue on October 28, at a price band of ₹1,085 to ₹1,125. The IPO lot size was set up at 12 shares. The company received high demand from retail investors, who had fully subscribed to the IPO within an hour of the issue opening on October 28. The retail investors have subscribed to Nykaa’s IPO 2.61 times, according to the stock exchange. Qualified institutional buyers (QIB) have subscribed to the IPO by 41% and non-institutional investors have subscribed 32% times. Overall, the IPO was subscribed 1.73 times. Moreover, shares of Nykaa are <a href="https://www.indiatvnews.com/business/markets-nykaa-ipo-gmp-today-grey-market-premium-share-price-status-subscription-allotment-check-listing-date-742784">reportedly</a> commanding a strong premium of ₹700, in the grey market, from its price band of ₹1,085 to ₹1,125 per share. Nykaa IPO’s allotment will be announced on November 8, on the stock exchange on November 11. Nykaa — which comes under FSN E-commerce Ventures — intends to raise ₹5,352 crore. Nearly ₹630 crore will be raised through fresh issue of shares. About 17 investors would sell 4.3 crore equity shares as part of this IPO. According to Nykaa’s red herring prospectus, the beauty and fashion ecommerce platform intends to use this capital for acquisition of customers as well as new businesses. It also plans to increase its international presence by foraying into the <a href="https://www.businessinsider.in/business/news/soon-to-be-listed-nykaa-plans-to-expand-to-middle-east-and-the-uk/articleshow/87257541.cms">Middle East as well as the United Kingdom</a>, before stepping into Europe. Nykaa also plans to set up <a href="https://www.businessinsider.in/business/news/ipo-bound-nykaa-plans-to-set-up-more-retail-stores-and-warehouse-for-ecommerce/articleshow/87274137.cms">more retail stores and warehouses </a>to promote its ecommerce business. The company posted a net profit of Rs 61.9 crore in FY21, as its income stood at ₹2,452 crore. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/irctc-stock-recovers-losses-as-government-reportedly-withdraws-decision-on-convenience-fee-revenue-share/articleshow/87356555.cms" style="">IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share</a> <a href="https://www.businessinsider.in/finance/news/shaktikanta-das-to-be-rbi-governor-for-three-more-years-till-december-2024/articleshow/87353252.cms" style="">Shaktikanta Das to be RBI Governor for three more years till December 2024</a>

Nykaa IPO — Today is the last day to subscribe, grey market premium at ₹700

<ul><li><keyword id="11111226" type="General" weightage="20" keywordseo="pb-fintech" source="Orion">PB Fintech</keyword> will offer its shares within a price range of ₹940-₹980 per share.</li><li>The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion.</li><li><keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> will use this funding to make strategic investments and acquisitions.</li></ul>PB Fintech — the parent company of insurance company PolicyBazaar and lending company PaisaBazaar — will open its initial public offering (IPO) today, with a price band of ₹940-₹980 per share. The lot size has been set at 15 shares. The company intends to raise ₹5,709 crore with this public issue, at a valuation of $6 billion. The IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors. PolicyBazaar will use this funding to make strategic investments and acquisitions. It is also looking to expand its presence across international markets. Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities. <ul><li>Login to the mobile app and select the IPO option under the console. If you’re logging in through desktop, then go to console — portfolio — IPO. </li><li>You will find a list of IPOs that are open for investment. Select the IPO you want to invest in. </li><li>Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account. </li><li>Select investor type for your application. </li><li>Enter the lot size (number of shares required to buy in one lot) announced by the company. </li><li>Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price. </li><li>Retail investors can bid for three lots. </li><li>After this step, click on the check box to confirm and submit. </li><li>The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment. </li><li>Now wait till the allotment date of shares to see if you have received the lot size you bid for.</li></ul>Applying for IPO on Paytm Money <ul><li>Log in to Paytm Money app. </li><li>Click on the IPO section on the home screen. </li><li>Apply for the IPO that is open for applications. </li><li>Add details for bidding such as quantity, amount, and more. </li><li>Enter UPI id to make payment. </li></ul>Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it: <ul><li>Log in to your bank’s net banking account. </li><li>Go to the investment section and select the IPO option. </li><li>Fill your investment and bank account details to complete the verification process. </li><li>Later select the IPO you want to apply for. </li><li>Enter the number of shares and bid price. </li><li>Read and accept ‘terms and conditions’ documents. </li><li>Submit your application.</li></ul>SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/irctc-stock-recovers-losses-as-government-reportedly-withdraws-decision-on-convenience-fee-revenue-share/articleshow/87356555.cms">IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share</a><a href="https://www.businessinsider.in/finance/news/shaktikanta-das-to-be-rbi-governor-for-three-more-years-till-december-2024/articleshow/87353252.cms">Shaktikanta Das to be RBI Governor for three more years till December 2024</a>

PolicyBazaar IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money

New Delhi, Apr 15 (PTI) <keyword id="6355455" type="COMPANY" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> will forgo around Rs 660 crore in revenue as it is refunding the amount towards cancellation of around 39 lakh ticket bookings for travel between April 15 to May 3, the extended phase of the nationwide lockdown to fight coronavirus pandemic. The Railways had not stopped bookings for journeys beginning April 15. On Tuesday, Prime Minister Narendra Modi announced extending the 21-day nationwide lockdown till May 3. The initial spell of the drastic measure was scheduled to end at midnight of April 14. The total amount that will be refunded is around Rs 660 crore. Around 39 lakh bookings were made between April 15 and May 3, a top official of the national transporter told PTI. The Indian Railways has said that all passengers will get a full <keyword id="6382942" type="UNKNOWN" weightage="20" keywordseo="refund">refund</keyword> for tickets booked for the period of the extended lockdown. It added that the amount would be automatically refunded to online customers, while those who booked tickets at the designated reservation counters could claim the refund till July 31. Following the prime minister's announcement, the Indian Railways extended the suspension of all its passenger services till the end of the lockdown. According to official data, a staggering 20 million people travel daily on nearly 15,000 passenger trains across the country. The Railways said no advance reservation of train tickets, including e-tickets, will be allowed till further orders, though the facility of online cancellation will remain functional. However, people on social media said that the Railways has deducted the convenience fee per online booking while making the refunds. When train is cancelled, the passenger is refunded full fare. Convenience fees is not refunded which are nominal to an individual and used for day-to-day maintenance and upgradation of the ticketing facility, the railways explained in a statement. The Indian Railway Catering and <keyword id="173658" type="COMPANY" weightage="20" keywordseo="Tourism-Corporation">Tourism Corporation</keyword> (IRCTC) charges nominal convenience fee of Rs 15 per ticket for booking non AC travel and Rs 30 for air conditioned and first class tickets. "A full refund will also be there for those cancelling advance bookings for trains not cancelled yet," the national transporter said. Before the coronavirus outbreak, on an average, around 8.5 lakh tickets were booked on the IRCTC website daily. After the prime minister's announcement of a 21-day lockdown across the country, the railways had announced suspension of all passenger services till April 14.

Indian Railways to refund ₹660 crore as 3.9 million bookings are cancelled

<ul><li>The midcap IT firm’s net profit grew marginally by 0.5% quarter-on-quarter to ₹341 crore in September quarter.</li><li>The company delivered 9.8% quarter-on-quarter direct revenue growth in the quarter. It believes no other peer has given 30% organic growth in the first half of FY22.</li><li>“I am of the school of thought that lack of supply or lack of adequate talent is as much a headwind to us as it is a tailwind,” said Nitin Rakesh, chief executive officer at <keyword id="46598" type="General" weightage="20" keywordseo="mphasis" source="Orion">Mphasis</keyword>.</li></ul>Bengaluru-based midcap information technology (IT) company Mphasis seems to be unaffected by the industry-wide issue of attrition, which is bothering IT giants like Tata Consultancy Services (TCS) and Infosys. Demand for digital transformation is booming and so is demand for techies. As a result of this, a huge number of employees are leaving IT organisations for <a href="https://www.businessinsider.in/careers/news/infosys-wipro-shares-up-as-q2-earnings-excite-investors/articleshow/87013663.cms">better opportunities</a>. On the other hand, the management of Mphasis is pretty confident of surpassing this phase without stressing much about the rising attrition rate. "I am of the school of thought that lack of supply or lack of adequate talent is as much a headwind to us as it is a tailwind. Because, you know (when) our clients are not able to find the talent, they can't go (and) execute the project...so shortage of supply is always a good thing for our business," said Nitin Rakesh, chief executive officer at Mphasis in an interview with Business Insider. The midcap IT company believes that their trained workforce is the reason behind successful completion of deals and they want to focus on skilling employees. “Everybody at the same time all over the world decided that they need more tech. And, you know, unfortunately, we can't put up, you know, plants and start manufacturing people. So we have to go and find those people and create that talent. So I think we have set up our own talent factories,” said Rakesh. Besides, Mphasis does not reveal its attrition rate like other IT firms but it mentioned the rate has increased in the September quarter from what it was last year. The company even hired a lower number of employees in the September quarter compared to the last few quarters as it was not very much worried about the attrition rate. “We hire to demand. In fact the numbers are in line with business,” said Rakesh. <div type="image" title="mphasis empl" height="900" width="1200" msid="87358262" hostid="261"></div> Further, Mphasis has not set a particular target for hiring a set number of employees and wishes to hire as per client demand. This is contrary to the industry trend of hiring an increasing number of employees with the growing demand for digital transformation. The company’s strong and consistent financial performance in comparison to its peers shows why it remains so unaffected and focused towards its growth. “Both quarters in a row, we've actually delivered market leading growth in the direct business. I don't think there is any other peer of ours that has delivered 30% plus organic growth in the first half of FY22,” said Rakesh. Mphasis’ direct segment, which caters predominantly to sectors like banking, diversified financial services and insurance accounts for 50% of its revenue. Not to forget, BFSI is a core client base for most IT firms as there is accelerated demand for cloud migration, software products for digital banking, cybersecurity and so on. <div type="image" title="Mphasis BFSI chart" height="900" width="1200" msid="87358304" hostid="261"></div> Tech investment supercycle will last for next three to five years COVID-19 has enabled work-from-home globally and IT firms are trying hard to provide seamless customer experiences from remote locations with accelerated demand for digital transformation and cloud adoption. Undoubtedly, IT companies have benefited from this phase with IT stocks rallying more than the benchmark index. <div type="ExtQuote" text="“Tech spending is not just within the traditional IT organisations, it's actually coming out of other parts of the business as well. So...we definitely think that the tech investing supercycle will actually last for the next three to five years,”" auname="Nitin Rakesh, chief executive officer at Mphasis in an interview with Business Insider."></div> In the September quarter, the IT firm’s revenue grew 6.6% on a quarterly basis to ₹2,869 crore while profit grew marginally by 0.5% to ₹341 crore. Further, the company is bullish on delivering revenue from its core BFSI segment, which contributes about 50% revenue for the company. “Almost (from) 5-8 quarters in a row, or even when our peers were actually not growing BFSI by 2% 3%, we were growing at double digits, now that they're growing at double digits, we're growing at 25%. So I think this is something that we will continue to focus on, because that is our whole market. But having said that, we also seeded new markets and new engines of growth,” Rakesh told Business Insider. <div type="image" title="Mphasis revenue" height="900" width="1200" msid="87358324" hostid="261"></div> Moreover, analysts believe the company will continue with its industry leading revenue growth. “We believe the company will report an industry-leading double-digit revenue growth rate over FY22E-FY24E [earnings in the next three financial years],” said a report by Reliance Securities. Further analysts at Phillip Capital said that, “With a strong H1 [first half of FY21] growth, strong deal flow and pipeline, we believe direct business is well poised for industry leading growth again in FY22.” <div type="image" title="mphasis" height="900" width="1200" msid="87358339" hostid="261"></div> ALSO WATCH: <div type="Video" msid="86941119" hostid="261" title="TCS is getting a lot of business but it needs hands to deliver them" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=86941119"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/irctc-stock-recovers-losses-as-government-reportedly-withdraws-decision-on-convenience-fee-revenue-share/articleshow/87356555.cms">IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/shaktikanta-das-to-be-rbi-governor-for-three-more-years-till-december-2024/articleshow/87353252.cms">Shaktikanta Das to be RBI Governor for three more years till December 2024</a>

You Searched For "irctc convenience fees" and got 9 results

IRCTC will lose a chunk of its revenue to the Indian government starting next month

Bhakti Makwana

IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share

Bhakti Makwana

IRCTC shares on the edge waiting for the first lockdown earnings

Navdeep Yadav

IRCTC doubles investor wealth as its stock surges 128% on listing

Sanchita Dash

PolicyBazaar’s IPO to open on November 1 — check last date, listing date and more

Kritti Bhalla

Nykaa IPO — Today is the last day to subscribe, grey market premium at ₹700

Kritti Bhalla

PolicyBazaar IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money

Kritti Bhalla

Indian Railways to refund ₹660 crore as 3.9 million bookings are cancelled

PTI

INTERVIEW: Mphasis CEO explains why he is hiring fewer people even when a lot of employees are leaving the firm

Bhakti Makwana