<ul><li><keyword id="3742694" type="General" weightage="20" keywordseo="sapphire-foods" source="Orion">Sapphire Foods</keyword> India, the operator of KFC and Pizza Hut outlets, is looking to raise over ₹2,000 crore through the public listing.</li><li>Analysts believe riding on strong brands, fine dine experience and focus on delivery strength the company is well positioned to capture the new age wave of change in eating habits.</li><li>You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.</li></ul>Today (November 11) is the last day to subscribe to the initial public offering (IPO) of Sapphire Foods India, the operator of KFC and Pizza Hut outlets. So far, in the first two days of the IPO bidding process, it has already been subscribed over 1.07 times. Shares reserved for retail investors have been oversubscribed by 5.38 times on the second day of the IPO bidding process. While the IPO has received decent response from investors, its share premium in the grey market slipped to ₹85 from ₹125 earlier. You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. The company is looking to raise over ₹2,000 crore through the IPO that consists of a pure offer for sale of 1.75 crore shares by existing shareholders and promoters. The company is the largest franchisee of Yum! Brands in the Indian subcontinent. Besides, the company is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss. As of June 2021, the company owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka. Analysts believe the company is well positioned to capture the new age wave of change in eating habits. “Riding on strong brands, fine dine experience and focus on delivery strength the company is well positioned to capture the new age wave of change in eating habits. The quick service restaurant (QSR) segment is expected to witness a significant rebound in the coming years driven by the economic recovery of the country and improvement in the purchasing power of consumers,” said brokerage firm KR choksey while recommending a ‘subscribe’ rating to the IPO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms">Paytm IPO scrapes through after two days of underwhelming response</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-ipo-analysts-recommend-subscribing-on-strong-demand-for-data-analytics/articleshow/87622215.cms">Analysts recommend subscribing to Latent View Analytics IPO on strong demand for data analytics</a>

Sapphire Foods IPO — Today is the last day to subscribe, grey market premium at ₹85

<ul><li><keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword> will list on November 15, 2021.</li><li>The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore.</li><li>According to reports, Policybazaar shares are available at a premium of ₹150 in the grey market.</li></ul>The allotment status of the initial public offering (IPO) of PB Fintech — the parent company of insurance selling platform PolicyBazaar and lending platform PaisaBazaar — will be announced on Wednesday, November 10. The IPO opened for subscription on November 1 and ended two days later on November 3. PolicyBazaar offered its shares at a price band of ₹940 to ₹980, and the lot size was set at 15 shares. At the upper price band, PolicyBazaar was seeking a valuation of $6.1 billion. The company’s shares were subscribed by 16.59 times. The issue received bids for 57.24 crore equity shares against an offer size of 3.45 crore. PolicyBazaar will list on <a href="https://www.businessinsider.in/business/startups/news/policybazaars-ipo-to-open-on-november-1-check-last-date-listing-date-and-more/articleshow/87370096.cms">November 15, 2021</a>. According to <a href="https://www.livemint.com/market/ipo/policybazaar-ipo-gmp-subscription-status-other-details-should-you-subscribe-11635732095036.html">reports</a>, PolicyBazaar shares are available at a premium of ₹150 in the grey market. PolicyBazaar’s IPO will include fresh issue of ₹3,759 crore and an offer for sale (OFS) of ₹1,959 crore from existing investors. PB Fintech will use the proceeds from the upcoming IPO for marketing of PolicyBazaar and PaisaBazaar. The company has decided to allocate ₹1500 crore of the proceeds for increasing brand awareness. 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. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms">Latent View Analytics IPO’s grey market indicates over 100% premium</a><a href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms"></a><a href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms"></a><a href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms"></a><a href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">There are several problems ailing SpiceJet and the taxman knocking on its doors is just one of them</a>

The allotment status of PolicyBazaar IPO would be announced tomorrow

<ul><li>Nykaa, which listed its IPO on November 10, crossed ₹1 lakh crore market cap mark within a few hours of its stock market debut.</li><li>Founder Falguni Nayar’s net worth surged to $6.5 billion as Nykaa listed at a over 70% premium on the stock exchange.</li><li>With this, Nykaa’s market cap became bigger than Coal India, Britannia, IRCTC and double of Hero MotoCorp.</li></ul>Fashion and beauty ecommerce platform Nykaa made a strong debut on the stock exchanges on November 10, opening at 77% premium from its issue price band. Shares of Nykaa opened at ₹2,001 on the BSE and ended at ₹2,208. This raised the market cap to over ₹1 lakh crore within a few hours of the stock’s debut on the exchanges. With this, the market capitalisation of the company grew bigger than several large companies listed on the stock exchanges like Coal India, Britannia, and IRCTC. In fact, it is double the size of Hero MotoCorp, Bank of Baroda, and Cadila Healthcare. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Some of the large cap companies in India </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;">Market cap </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;">Nykaa </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;">₹1.04 lakh crore </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;">Britannia </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;">₹88,880 crore </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;">Dr Reddy’s Laboratories </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;">₹80,331 crore </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;">Eicher Motors </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;">₹74,813 crore </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;">Cipla </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;">₹73,593 crore </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;">IRCTC </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;">₹67,896 crore </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;">Hero MotoCorp </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;">₹54,316 crore </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;">Bank of Baroda </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;">₹52,049 crore </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;">Cadila Healthcare </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;">₹51,407 crore </td></tr></tbody></table> Beauty ecommerce brand’s successful listing made its founder and chief executive Falguni Nayar India’s wealthiest self-made female billionaire. Nykaa’s shares were offered within a price range of ₹1,085 to ₹1,125, but the company made its <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">stock market debut at ₹2,001 earlier today</a>. This is a premium of 77.87%. A total of <a href="https://www.businessinsider.in/business/startups/news/nykaa-will-spend-its-ipo-money-on-setting-up-retail-stores-and-repaying-loans/articleshow/84996894.cms">17 investors</a> — both institutional and individual — sold part of their shareholdings as offer for sale (OFS) in Nykaa’s IPO. This included Falguni and her husband Sanjay Nayar’s family office named Sanjay Nayar Family Trust, TPG Growth, Lighthouse India, J M Financial and Investment Consultancy and others. Nykaa intends to use this capital for acquisition of customers as well as new businesses. It also plans to increase its international presence by <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">foraying into </a>the Middle East as well as the United Kingdom, before stepping into Europe. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-ipo-analysts-recommend-subscribing-on-strong-demand-for-data-analytics/articleshow/87622215.cms">Analysts recommend subscribing to Latent View Analytics IPO on strong demand for data analytics</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/falguni-nayars-net-worth-surges-to-6-5-billion-after-nykaas-successful-ipo/articleshow/87622775.cms">Falguni Nayar’s net worth surges to $6.5 billion after Nykaa’s successful IPO</a>

Nykaa is now bigger than Coal India, Britannia, IRCTC and almost double of Hero MotoCorp

<ul><li>Sapphire Foods India will open its IPO on November 9 and close on November 11.</li><li>The IPO consists of a pure offer for sale of 1.75 crore shares by existing shareholders and promoters.</li><li>The price band of the IPO is fixed at ₹1,120-1,180 per share.</li><li>Shares of the company are demanding a premium of ₹125 in the grey market.</li></ul>Sapphire Foods India, the operator of KFC and Pizza Hut outlets, will open its IPO today, November 9, and close on November 11. The IPO consists of a pure offer for sale of 1.75 crore shares by existing shareholders and promoters. As of June 2021, the company owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka. Sapphire Foods is the largest franchisee of Yum! Brands in the Indian subcontinent. Besides, the company is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss. Shares of the company are demanding a premium of ₹125 in the grey market, according to IPO Watch. Here are some of the important dates related to the IPO: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1120 to ₹1180 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 9 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 16 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 17 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 22 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12 </td></tr></tbody><tbody></tbody></table> Analysts at Kotak Institutional Equities expect the company to grow its revenue at a compounded annual rate of 20% and the earnings before interest, tax, depreciation and amortisation (EBITDA) by 30% by March 2025. However, the revival from the COVID-19 lockdown this year was relatively slower because many of its outlets are located within malls, which remained shut, or the footfalls remained low, for longer than in other restaurants. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms">Latent View Analytics IPO’s grey market indicates over 100% premium</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">There are several problems ailing SpiceJet and the taxman knocking on its doors is just one of them</a>

KFC, Pizza Hut operator Sapphire Foods’ IPO opens today — check closing, allotment and listing dates

<ul><li>The IPO was open for subscription from September 28 to November 1.</li><li>The company announced the allotment of IPOs yesterday, November 8.</li><li>Initiation of refund procedure or unblock of amount in a bank account will begin from today, November 9.</li></ul>If you had applied for fashion and beauty ecommerce platform <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> initial public offering (IPO), the IPO allotment has been already done. The company announced the allotment of IPOs yesterday, November 8. The company received huge demand from investors, who had oversubscribed the IPO by 82.42 times. Overall, the IPO has received bids for 216 crore equity shares against the IPO size of 2.62 crore equity shares. If you have not checked whether you received the IPO allotment or not, <a href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-paras-defence-and-space-technologies-ipo-allotment/articleshow/86559437.cms">click here </a>and follow the procedure. For those who checked and have not been allotted the shares of the mutual fund company — the initiation of refund procedure will begin from today, November 9. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 9 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 11 </td></tr></tbody></table> Once the IPO result is released, all the applicants who got allotment will receive the share in their demat account on the date of listing. And the rest, who unfortunately didn’t get the allotment will receive their IPO refund on/before the end date of mandate. Usually, with the registered phone number on the investment platform, every applicant gets a message when shares are blocked and unblocked in their bank account. This indicates if one has received the IPO allotment or not. Most of you would have received a request for UPI ID while completing IPO transaction. After the submission, investors will receive a validity period. The IPO amount which is blocked in an investor account usually gets unblocked one day later the IPO allotment or before the end of the validity period. Here is the screenshot of an IPO mandate after the transaction is made through the UPI ID that has the validity period of the IPO. <div type="image" title="zerodha refund" height="900" width="1200" msid="87594520" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">There are several problems ailing SpiceJet and the taxman knocking on its doors is just one of them</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms">Latent View Analytics IPO’s grey market indicates over 100% premium</a>

Not received Nykaa IPO refund? Here are the things you should know about

<ul><li>It is the first payments bank to get listed on the stock exchange and it is profitable too.</li><li>The company’s public issue was oversubscribed by 2x as retail investors took a lead.</li><li><keyword id="3526030" type="General" weightage="20" keywordseo="fino-payments-bank" source="Orion">Fino Payments Bank</keyword> has raised ₹1,200 crore through this public issue.</li></ul>Navi Mumbai-based fintech company Fino Payments Bank made its debut on the stock exchange on Friday, November 12, as its shares opened at ₹548 on the BSE. This is a premium of -5%. Fino Payments Bank is the first payments bank making profits to get listed on the stock exchange. The company’s shares were trading at ₹528 at 12:25 p.m, leading to a market cap of ₹4,393 crore. The price of Fino Payments Bank’s shares was fixed at ₹560-577 during the public issue. Fino Payments Bank — which comes under the parent entity Fino Fintech Private Limited — received a<a href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-ipo-allotment-is-tomorrow-november-9/articleshow/87577397.cms"> good response from the investors</a> during its IPO. The retail investors’ portion of this public issue was oversubscribed by 5.92 times on the last day of IPO bidding, on November 2. The demand from non-institutional investors, which includes companies as well as high net-worth individuals (HNI), was low. The portion reserved for them was only subscribed 21%. <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;">Investors </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;">Status </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;">Qualified Institutional Investors </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;">1.64 times </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-institutional investors </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;">0.21 times </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;">Retail investors </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;">5.92 times </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;">Overall </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;">2.03 times </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Stock Exchange Founded in 2007 as Fino Fintech Foundation Limited, the company rebranded itself to Fino Fintech Private Limited in 2015. The Reserve Bank of India (RBI) granted in-principle approval to the company to establish a payments bank in 2015 but the payments bank commenced operations in June 2017. Rishi Gupta is the managing director and chief executive (CEO) of Fino Payments Bank. He was one of the founding members of Fino Paytech. Fino Payments Bank has raised ₹1,200 crore through this public issue. Of this, $300 crore was raised by the company as a fresh issue and the remaining ₹900 crore was raised through an offer for sale by existing stakeholders. The company will use the net proceeds from the fresh issue to augment its tier-I capital base to meet its future capital requirements. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipo-today-is-the-last-day-to-subscribe/articleshow/87655760.cms" data-type="tilCustomLink">Latent View Analytics IPO— today is the last day to subscribe</a> <a href="https://www.businessinsider.in/cryptocurrency/news/roughly-half-of-bitcoins-recent-returns-are-driven-by-fears-of-rising-inflation-bloomberg-economists-estimate/articleshow/87656073.cms" data-type="tilCustomLink">Roughly half of bitcoin's recent returns are driven by fears of rising inflation, Bloomberg economists estimate</a> <a href="https://www.businessinsider.in/business/news/two-new-ipos-coming-in-next-week-tarsons-products-and-go-fashion/articleshow/87655787.cms" data-type="tilCustomLink">IPO craze continues as two more set to open next week</a>

Fino Payments Bank lists 5% below IPO price

A scientist of Indian origin has been identified by <keyword id="4912868" type="General" weightage="100" keywordseo="moderna" source="Orion">Moderna</keyword> as the primary contributor to its <keyword id="8904563" type="General" weightage="20" keywordseo="Covid-19-vaccine" source="Orion">Covid-19 vaccine</keyword>. A filing by the company for its patent application for the coronavirus vaccine using the revolutionary RNA technique listed Pune-educated <keyword id="12503074" type="General" weightage="20" keywordseo="bioinformatics-scientist-Mihir-Metkar" source="Orion">bioinformatics scientist Mihir Metkar</keyword> as the "first named inventor", a designation that usually recognises the primary contributor to the invention. He is also listed as one of the inventors in two other Covid-19 vaccine patent applications by Moderna to the US Patent Office. Moderna's is of the new class of vaccines that use what is called messenger RNA (mRNA) that cause the body to create some proteins similar to that in the Covid-19 virus and trigger the body's immune system to make antibodies that will fight the coronavirus if it invades the body. (Conventional vaccines use either dead viruses or parts of them or a modified version of the gene of a different virus.) Metkar's identification as the "first named inventor" is in the document filed by Moderna to dispute the US government's National Institutes of Health (NIH) assertion that its scientists should also be credited as inventors of the vaccine, which was developed in collaboration with it and with $1.53 billion provided by the administration of former President Donald Trump under the Operation Warp Speed programme to quickly produce vaccines. Vladimir Presnyak and Guillaume Stewart-Jones are listed after him in the original application for the patent. Metkar received his MSc degree from the Institute of Bioinformatics and Biotechnology at the Savitribai Phule Pune University and worked at the Indian Institute of Science Education and Research (IISER) in Pune as a project assistant before coming to the United States, according to his LinkedIn profile. He did his PhD at the RNA Therapeutics Institute at the University of Massachusetts Medical School in Worcester and worked there as a post-doctoral fellow, before joining Moderna in 2018, the profile said. In a separate patent filing, Moderna listed Sunny Himansu, who has an MBBS degree, as one of the two inventors of the Betacoronavirus Vaccine. Moderna's vaccine is one of the two main vaccines in the US and about 164 million doses of it have been given so far in the US, according to the Centers for Disease Control. In addition, millions of people have been vaccinated in Europe and elsewhere with the Moderna vaccine. The other main vaccine used in the US is the Pfizer-Biontech, which was developed in Germany and uses mRNA. A third vaccine from Johson &amp; Johnson is also used in the US. It was developed by J&amp;J's Jansen Pharmaceutical, whose global head of research and development is Mathai Mammen. The patent document naming Metkar as the "first named inventor" was filed on behalf of Moderna by an intellectual property law firm asserted that the three NIH scientists who collaborated with them should not be considered co-inventors as the NIH has asked. If the NIH scientists are recognised as co-inventors, the NIH and the government may be entitled to receive a share of royalties from the use of the patents and also be able to allow others to make the vaccine. An NGO, Public Citizen, has pointed out in a letter to the head of the NIH that co-ownership of the patent "can empower the US government to authorise" other manufacturers around the world to use some of the patents to make the vaccine. The group said that with "huge gaps in global vaccine access" the need for the government to exercise control over the vaccine technology "only grows more urgent". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/falguni-nayars-net-worth-surges-to-6-5-billion-after-nykaas-successful-ipo/articleshow/87622775.cms">Falguni Nayar’s net worth surges to $6.5 billion after Nykaa’s successful IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-ipo-analysts-recommend-subscribing-on-strong-demand-for-data-analytics/articleshow/87622215.cms">Analysts recommend subscribing to Latent View Analytics IPO on strong demand for data analytics</a>

Indian origin scientist named as the primary contributor to invention of Moderna's COVID-19 vaccine

<ul><li>The net profit of <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> grew nearly five-fold in the July-September quarter, while <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> recorded a 300% uptick.</li><li><keyword id="54613" type="General" weightage="20" keywordseo="makemytrip" source="Orion">MakeMyTrip</keyword> cut its loss to a third and its revenue touched $67 million in the last quarter.</li><li>The segment is expected to see a greater push as revenge travel grows and cases of COVID-19 continue to lay low.</li></ul>Indian Railways Catering and Tourism Corporation (IRCTC) as well as online ticketing platforms EaseMyTrip and MakeMyTrip have increased their net profit in the July to September quarter of 2021, which hints towards a strong recovery for the travel and hospitality sector that has been majorly impacted by the COVID-19 pandemic since March 2020. The net profit of IRCTC grew nearly five-fold compared to last year. Its revenue, on the other hand, grew four-fold in the same time frame. The company has further doubled its financial metrics compared to the April-June quarter of 2021 that was clouded by the second wave of COVID-19. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506492" hostid="261"></div> EaseMyTrip — which is operated by Easy Trip Planners Limited — reported over 330% year-on-year increase in its consolidated net profit. The company’s revenue has grown another 164% year-on-year to ₹59.7 crore in the July-September quarter. <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506502" hostid="261"></div> “We have witnessed strong recovery in demand across our segments and are optimistic of the demand scenario going forward on the back of strong tailwinds in terms of revenge travel and recovery in the travel and tourism industry,” EaseMyTrip noted in its financial statement released on November 3. The company believes that India’s travel segment will witness a ‘U-shaped recovery’, with domestic travel taking a leap over international travel. The company’s share prices catapulted 5% post its financial performance. The shares of EaseMyTrip were trading at ₹531 at 11:35 a.m., on November 3. MakeMyTrip — which is the largest player in the online ticketing space — too reported a much stronger growth in the July to September quarter. The company’s revenue grew 219% year-on-year to $67 million (about ₹500 crore). Its loss was cut nearly by a third to $8 million (about ₹60 crore). <div type="image" title="The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India" msid="87506518" hostid="261"></div> MakeMyTrip and EaseMyTrip both witnessed a strong demand in air travel, which was a major contributor to its revenue. The company offers booking of air tickets, bus tickets, train tickets, hotels and holiday packages, among other services. IRCTC, on the other hand, provides ticketing, catering and tourism services for Indian Railways. “MakeMyTrip continued to lead and be instrumental in the recovery of travel in India as the country’s new daily reported COVID-19 infections have declined significantly since May 2021, aided by over one billion vaccine doses that have been administered so far. The results of the reported fiscal quarter clearly showcases the durable strength of its multiple brands, driven by its relentless focus on serving its customers with the best possible experience for their travel booking needs,” Deep Kalra, group executive chairperson of MakeMyTrip, said. Other players in the segment are Goibibo (owned by MakeMyTrip), Cleartrip (acquired by Flipkart), publicly traded Yatra, initial public offering (IPO)-bound ixigo and more. SEE ALSO <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-may-soon-allow-you-to-delete-messages-going-back-several-years/articleshow/87500597.cms" data-type="tilCustomLink">WhatsApp may soon allow you to delete messages going back several years</a> <a href="https://www.businessinsider.in/stock-market/news/data-analytics-firm-latent-view-analytics-ipo-to-open-on-november-9/articleshow/87501115.cms" data-type="tilCustomLink">Data analytics firm Latent View Analytics’ IPO to open on November 10</a> <a href="https://www.businessinsider.in/stock-market/news/policybazaar-ipo-today-is-the-last-day-to-subscribe/articleshow/87489212.cms" data-type="tilCustomLink">PolicyBazaar IPO — Today is the last day to subscribe, grey market premium at ₹150</a>

The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India

<ul><li>The lot size should be six, taking the total price to 12,900 at the upper price range.</li><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> is seeking a valuation of $19.3- $19.9 billion with this public issue.</li><li>The company’s IPO will open from November 8 to November 10.</li></ul>One 97 Communications — the parent company of digital payments giant Paytm — will open its initial public offering (IPO) on Monday (November 8) to raise ₹18,300 crore ($2.4 billion). The price band of the company’s shares has been set at ₹2,080-2,150 per share. The lot size should be six, taking the total price to 12,900 at the upper price range. The company’s IPO will open from November 8 to November 10. Paytm — valued at $16 billion — was founded in 2010 and is one of the largest digital payments companies in India. The company is seeking a valuation between $19.3 billion to $19.9 billion with this public issue. China-based Alibaba Group is expected to make the most out of Paytm’s IPO. Its affiliate entities — ANT Group and Alibaba.com — will be selling shares worth ₹5,488 crore (about $733 million) cumulatively. This is nearly 30% of Paytm’s IPO size. Founder and CEO of One 97 Communications, Vijay Shekhar Sharma, will be looking to sell shares worth ₹402 crore ($53 million) in <keyword id="8069901" type="General" weightage="20" keywordseo="paytm-ipo" source="Orion">Paytm IPO</keyword>. 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/business/news/the-strong-financial-performance-of-makemytrip-easemytrip-and-irctc-hints-towards-a-larger-travel-recovery-in-india/articleshow/87503220.cms" data-type="tilCustomLink">The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-may-soon-allow-you-to-delete-messages-going-back-several-years/articleshow/87500597.cms">WhatsApp may soon allow you to delete messages going back several years</a> <a href="https://www.businessinsider.in/stock-market/news/data-analytics-firm-latent-view-analytics-ipo-to-open-on-november-9/articleshow/87501115.cms">Data analytics firm Latent View Analytics’ IPO to open on November 10</a>

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

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<ul><li>Cryogenic rocket engines run on propellant that can be stored at extremely low temperatures of less than -150° celsius.</li><li><keyword id="7537495" type="General" weightage="20" keywordseo="Skyroot-Aerospace" source="Orion">Skyroot Aerospace</keyword> is the first Indian companies to work with <keyword id="6358064" type="General" weightage="20" keywordseo="isro" source="Orion">ISRO</keyword>.</li><li>The company is currently in talks to raise $40 million funding from new and existing investors.</li><li><keyword id="9750118" type="General" weightage="20" keywordseo="skyroot" source="Orion">Skyroot</keyword> was founded by former ISRO scientists <keyword id="7537908" type="General" weightage="20" keywordseo="Pawan-Kumar-Chandana" source="Orion">Pawan Kumar Chandana</keyword> and Naga Bharath Daka.</li></ul>Indian space startup Skyroot Aerospace is in talks to raise $40 million from both new and existing investors in the Indian startup ecosystem, in order to fund its commercial operations that are scheduled to launch next year. The company has previously raised<a href="https://www.businessinsider.in/business/startups/news/skyroot-aerospace-raises-11-million-in-funding-with-plans-to-have-vikram-1-on-the-launch-pad-by-mid-2022/articleshow/82788901.cms"> $11 million in Series A</a> round, which is the biggest funding round announced by any Indian spacetech startup. Its rival Agnikul had also announced its<a href="https://inc42.com/buzz/spacetech-startup-agnikul-raises-11-mn-to-take-next-step-in-satellite-innovation/"> $11 million</a> funding round the same date. Skyroot is backed by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli. Other notable investors also include former WhatsApp global business chief Neeraj Arora, Graph Ventures, and Worldquant Ventures. The company had also raised over ₹10 crore from Mukesh Bansal, who had founded Myntra (bought by Flipkart) and Cure.fit, back in 2018. The company’s previous fundraise of $11 million will be used by Skyroot to complete development of its satellite launch vehicle by mid next year. When asked about the planned $40 million funding, Pawan Kumar Chandana, cofounder and chief executive of Skyroot, told Business Insider, “New capital [is] to ramp up production for commercial launches in 2022 and 2023.” Testing India's first cryogenic rocket engine by a private company The journey of Skyroot Aerospace has been of many firsts. It is the first <a href="https://m.economictimes.com/tech/startups/skyroot-aerospace-first-spacetech-startup-to-formally-sign-up-with-isro/articleshow/86118177.cms" data-type="tilCustomLink">private companies </a>to formally work with the Indian Space Research Organisation (ISRO) to test and qualify its small rocket, capable of lifting up to 2,000 kilograms. The company — founded by former ISRO scientists Pawan Kumar Chandana and Naga Bharath Daka in 2018 — has added another feather to its cap. Skyroot Aerospace is now the first Indian private aerospace company to successfully test a fully cryogenic rocket engine, named Dhawan-1 in honour of eminent Indian scientist Satish Dhawan. The engine runs on two high-performance rocket propellants (a combination of fuel and oxidiser to move the rocket) — Liquid Natural Gas (LNG) and Liquid Oxygen (LoX). In this case, LNG is the fuel which is mostly made of methane and LoX is the oxidiser, both of these elements mix and produce energy to drive a rocket. <div type="image" title="INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry" msid="87923115" hostid="261" caption="&amp;lt;p&amp;gt;Dhawan-1, Skyroot&amp;#39;s fully cryogenic rocket engine&amp;lt;/p&amp;gt;"></div> These propellants can be stored at extremely low — also known as cryogenic — temperatures of less than -150° celsius. Therefore, it is called a cryogenic engine. Simplifying a cryogenic engine Rockets usually run on liquid hydrogen and kerosene, which have their own issues when dealing with extreme temperatures in space, Skyroot’s chief executive Chandana explained to Business Insider. Hydrogen is difficult to handle, highly inflammable and starts boiling at higher temperature, whereas kerosene freezes sooner. Cryogenic propellants like Methane used in liquid natural gas (LNG) and oxygen used in Liquid Oxygen (LoX) are much more efficient to handle and are cleaner. Therefore, they are the propellent for the future. A team of 20 people at Skyroot have been working on this technology for the last two years, and started manufacturing in October 2020. No company has flown these propellants to space yet, Chandana added. Skyroot’s cryogenic engines are 3D printed, which is reducing the manufacturing time by 95% and increasing efficiency of the engine compared to conventional methods. “Conventional engines have several components welded and limitations on the contours that can be manufactured,” Chandana added. These engines give out higher efficiency compared to a conventional alternative engine, he added. An add-on to boost Skyroot’s in-house developed technology While there is still time for Skyroot to take this technology to space, it is planning to launch its Vikram-1 next year by incorporating it into the company’s in-house orbital vehicle Vikram series to carry small satellites to space. The Vikram Series has three vehicles to its product line. <table style="border-width: initial; border-style: none;" 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;">Orbit Vehicle </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;">Feature </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;">Vikram 1 </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;">Orbit vehicle developed in partnership with ISRO. It will be launched to space by next year. </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;">Vikram 2 </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;">An upgraded version of Vikram-1, would run on a cryogenic engine. It will improve Skyroot’s capacity to carry satellites to space and the cost decreases. </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;">Vikram 3 </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;">Would have an add-on booster to further enhance efficiency and capacity of a cryogenic engine. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The company will not be licensing or selling its cryogenic engine technology to any other partners, but will use it to boost its operations. It will partner with other companies that have the capability of manufacturing satellites, mainly in earth observation and communication satellites, and help them launch it to space. <div type="image" title="INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry" msid="87912018" hostid="261" caption="&amp;lt;p&amp;gt;Skyroot&amp;#39;s satellite launch vehicle Vikram Series&amp;lt;/p&amp;gt;"></div> Hyderabad-based Skyroot claims that it will probably be the cheapest satellite launch vehicle in the world. Skyroot, which competes with Agnikul, another Indian space startup, that makes similar claims about pricing and 3D printing of launchers, will charge a customer based on the weight of the satellite. Agnikul, like Skyroot, is also working with ISRO and plans to launch its orbit vehicle to space by next year. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/asian-paints-denies-poor-governance-allegation-by-proxy-advisory-firm-ingovern/articleshow/87910128.cms" data-type="tilCustomLink">Asian Paints denies poor governance allegations by proxy advisory firm Ingovern that triggered its stock</a> <a href="https://www.businessinsider.in/business/corporates/news/latent-view-analytics-looks-to-acquire-small-data-analytics-companies-focused-in-europe-and-us/articleshow/87911242.cms" data-type="tilCustomLink">INTERVIEW: After a blockbuster listing, Latent View Analytics looks to acquire small data analytics companies focused in Europe and US</a> <a href="https://www.businessinsider.in/investment/news/heres-a-quick-look-at-how-the-evolution-of-cryptocurrencies-has-played-out-in-india/slidelist/87902549.cms">India’s crypto regulations have been caught in limbo — here’s how the past decade has played out</a>

INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry

<ul><li><keyword id="944108" type="General" weightage="20" keywordseo="stripe" source="Orion">Stripe</keyword> participated in the $75 million funding round of <keyword id="404121" type="General" weightage="20" keywordseo="clear" source="Orion">Clear</keyword>, formerly known as <keyword id="2763190" type="General" weightage="20" keywordseo="cleartax" source="Orion">ClearTax</keyword>.</li><li>The acquisition of Recko and the investment in Clear is a part of Stripe’s expansion beyond payments acceptance.</li><li>Clear believes that it has found its product market fit and wants to try its hands in western countries like the UK, Europe and Middle East.</li></ul>Software-as-a-service (SaaS) company Clear, formerly known as ClearTax, bagged<a href="https://www.businessinsider.in/business/startups/news/cleartax-has-bagged-75-million-from-worlds-highest-valued-fintech-startup-stripe-and-others-to-fuel-its-international-expansion/articleshow/87250988.cms"> $75 million last week</a> from several marquee investors to fulfill its extensive expansion plans. The one name that stood out among all the investors was Stripe, the world’s highest valued fintech startup. Dublin and San Francisco-based Stripe — valued at $95 billion — is an online payment processing and credit card processing platform for businesses. The company has raised $2.2 billion to date and is backed by tech giant Google. Stripe made its first investment in India two weeks ago by<a href="https://stripe.com/newsroom/news/recko"> acquiring</a> Bengaluru-based finance operating platform Recko. Recko automates key steps in the payments reconciliation process that slow most businesses down. The acquisition of Recko is a part of Stripe’s expansion beyond payments acceptance, the company said in a press release. “With Recko, we’ll automate their payments reconciliation, a critical input into their overall financial health,” Stripe’s Chief Product Officer Will Gaybrick added. Recko is definitely going to gain from Stripe with access to a much larger user base, but what does Clear have to gain from it? More importantly, what can Stripe gain out of it? Clear’s horizontal SaaS model allows Stripe to enter several domains at once Stripe has confirmed that it is looking to go beyond payments and enter other domains of financial services. Clear’s horizontal SaaS model allows it to work in several domains on financial services all at once, including invoicing, payments, taxes, credit and lending. This company caters to four groups of customers — consumer, small and medium businesses (SMB), enterprises and tax experts such as chartered accountants (CA) or accountants. Archit Gupta, cofounder and chief executive officer (CEO) of Clear, told business Insider that the horizontal SaaS model allows the company to focus on a larger and more varied set of customers. The company has launched one product to help small businesses meet their working capital demand and is underway to launch another one soon. “To run so many things in parallel, we needed capital,” the company said. The Bengaluru-based startup claims to have over 6 million Indians registered on its platform, along with 50,000 tax professionals, 1 million small businesses and 3,000 large enterprises. The company will use a part of this funding for engineering, product and design to add more products to its umbrella. The company will be looking to expand into the payments and credit side. In a previous conversation with Business Insider, Clear’s cofounder Srivatsan Chari added that it will be looking to <a href="https://www.businessinsider.in/business/startups/news/cleartax-is-planning-for-major-acquisitions-as-it-looks-to-leapfrog-its-growth/articleshow/84880048.cms">acquire more businesses </a>to expand its offerings. <div type="image" title="Here is why Clear(Tax) clinched a deal with the world&amp;#39;s most valued fintech company" msid="87509702" hostid="261"></div> The synergy between the two players gets stronger with Clear’s international plans Second and the most important part of Clear’s expansion plan is increasing its geographic footprint and Stripe can be a worthy partner here, given its presence across 135 countries across the globe. Clear believes that its Indian software stack has a global fit and like other SaaS products it wants to try its hands in western countries like UK, Europe and Middle East. Though the company is yet to confirm the markets they would be launching in, the deadline has been set for December 2021. Gupta told Business Insider that the international markets are much larger compared to India. The company expects the international operation to contribute a major chunk of revenue. India will continue to be a significant contributor but not a majority one, Gupta said. Commenting on the synergies between Stripe and Clear, Gupta added, “We are very excited to partner and to learn and prosper more learning on both sides. We’ll learn more and after the quarter I will be able to answer this question much more sharply. But excited to learn and discover. They have a great global vantage point and they are very global in their approach, we are learning global.” “They obviously understand billing very deeply, invoicing very deeply. They understand payments, lending and they got into taxes more recently. I find that the roadmap overlap is amazing. My hypothesis is that we will collaborate much more globally but like I said we’ll be able to answer that question more clearly in 90 days” he added. Ankur Bansal, co-founder of BlackSoil Capital, in a <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-twitter-hyundai-and-dominos-are-buying-indian-software-fuelling-a-75-billion-dream-chased-by-top-vcs-like-sequoia-and-tiger-global/articleshow/85646116.cms">previous interaction </a>with Business Insider said that it’s almost a given for all SaaS companies, who have found their product-market fit, to think global. Having global customers changes the valuation of a SaaS company “dramatically” and offers much better margins to the company. Profitability may only be 18 months away The international expansion plans also flag off Clear’s road to profitability. The company — which claims to be recording a 100% year-on-year growth in its revenue on an annual basis — noted that it will increase the prices of its software solutions by five-six times in India in order to increase the average revenue per user (ARPU). This will be in addition to launching its services abroad, where price points of software products and customer’s ability to pay are much higher. The combination of the two will make the profit margin on Clear’s product even more higher on a consolidated level. Clear — founded in 2011 as ClearTax — posted a revenue of ₹60 crore in the financial year 2020. Keeping the 100% annual increase in revenue, the company’s revenue should be somewhere close to ₹120 crore in FY21. “The financing brings two things — partnership and fuel for expansion. The in depth business is exploding right now. There are massive tailwinds to the business we have built so far. What that means is that India’s digitisation from the government push is very very serious. There have been a lot of COVID-related tailwinds,” Gupta said, adding that companies are getting more serious about digitising. SEE ALSO <a href="https://www.businessinsider.in/business/news/the-strong-financial-performance-of-makemytrip-easemytrip-and-irctc-hints-towards-a-larger-travel-recovery-in-india/articleshow/87503220.cms" data-type="tilCustomLink">The strong financial performance of MakeMyTrip, EaseMyTrip and IRCTC hints towards a larger travel recovery in India</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-may-soon-allow-you-to-delete-messages-going-back-several-years/articleshow/87500597.cms">WhatsApp may soon allow you to delete messages going back several years</a> <a href="https://www.businessinsider.in/stock-market/news/data-analytics-firm-latent-view-analytics-ipo-to-open-on-november-9/articleshow/87501115.cms">Data analytics firm Latent View Analytics’ IPO to open on November 10</a>

Here is why Clear(Tax) clinched a deal with the world's most valued fintech company

<ul><li>For borrowers, there has been a huge surge in options to take loan on gold as banks, new tech platforms like IndiaGold and Rupeek, are piling on this space.</li><li>Ensure that the lender/company that you are mortgaging your gold with, will keep your gold safe and return it when the loan is repaid.</li><li>If you are expecting <keyword id="46002" type="General" weightage="20" keywordseo="gold-prices" source="Orion">gold prices</keyword> to go up in the near future, it is wise to wait before you mortgage the gold.</li></ul><keyword id="130134" type="General" weightage="20" keywordseo="gold-loan" source="Orion">Gold loan</keyword> companies like Muthoot Finance and Manappuram Finance have seen a sharp recovery in gold loans in the June to September quarter. Muthoot’s profit has reached nearly ₹1,000 crore in these three months. Clearly, there is a huge demand for gold loans. While Manappuram is yet to release its numbers, Muthoot has given over ₹6,000 crore worth of loans in these 3 months to new and older, but inactive, customers between June and September, according to a report from ICICI Direct dated November 7. This is the highest amount disbursed by Muthoot in the last 10 quarters and it has led to a surge in the stock price. <div type="image" title="manappuram chart" height="900" width="1200" msid="87587434" hostid="261"></div> For borrowers, there has been a huge surge in options as well. Banks, new tech platforms like IndiaGold and Rupeek, are piling on this space because gold as a collateral makes the loans less risky, especially since prices of the precious metal have been on an uptrend. <div type="image" title="gold prices" height="900" width="1200" msid="87587540" hostid="261"></div> So, here are a few things to keep in mind before going for a gold loan: Trust is the most important requirement. You need to be sure that the lender/company that you are mortgaging your gold with, will keep it safe and return it when the loan is repaid. If you are expecting gold prices to go up in the near future, it is wise to wait before you mortgage the gold. Lenders give loans based on the value of the gold kept as collateral. Therefore, if the price of gold goes up, then one can get a bigger loan for the same amount of gold. If you need a lesser loan, you can reduce the gold offered to the lender. Similarly, if the price of gold falls, the lender may ask you for more gold in the near future to make up for the loss of value in the collateral. So, ask yourself if you would be able to turn up the additional amount, if needed. As George Alexander Muthoot himself has warned in the past, gold loans aren’t usually taken for long durations like two or three years. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> People mortgage gold jewellery, which is often more precious due to the emotional attachments and memories associated with them, to meet a short-term requirement of a few days or months because the interest rates on gold loans are also high. These are the interest rates charged on gold loans by some of the top lenders <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Company </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;">Amount </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;">Interest rate (per annum) </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;">HDFC Bank </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;">₹10,000 onwards </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;">11% to 16% </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;">Axis Bank </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;">₹25,001 to ₹25 lakh </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;">13.50 to 16.95% </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;">SBI </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;">₹20,000 to ₹50 lakh </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;">7% onwards </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;">Kotak Mahindra Bank </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;">₹20,000 to ₹11.5 crore </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;">10% to 17% </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;">IndusInd Bank </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;">Up to ₹10 lakh onwards </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;">11.5% to 16% </td></tr></tbody></table>Source: <a href="https://www.bankbazaar.com/personal-loan/gold-loan-interest-rates.html">Bank Bazaar</a> While gold loan providers do not ask for the borrower’s credit score, popularly known as CIBIL score, any failure to repay the loan will reduce the borrower’s credit score and affect future loans. If you are providing jewellery as collateral, be sure you won’t need it until the time the loan is repaid and the jewellery is returned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-analytics-ipos-grey-market-indicates-over-100-premium/articleshow/87585958.cms">Latent View Analytics IPO’s grey market indicates over 100% premium</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">There are several problems ailing SpiceJet and the taxman knocking on its doors is just one of them</a>

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