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<ul><li>Manyavar is likely to announce its share allotment status today.</li><li>Vedant Fashions, owner of ethnic wear brand <keyword id="12067383" type="General" weightage="20" keywordseo="manyavar-ipo" source="Orion">Manyavar IPO</keyword>, was subscribed 2.57 times.</li><li>The IPO will be listed on February 16 on exchanges.</li></ul>Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, is likely to announce the allotment status of its initial public offering (IPO) today, February 11. The IPO was open for subscription from February 4 to February 8. Manyavar’s IPO received a tepid response from investors as its IPO was subscribed just 2.57 times the number of shares offered in the three days of IPO bidding process. Moreover, the grey market premium of the company’s shares show a small premium of ₹10 from the higher end of the price band. It seemed like most retail investors skipped the IPO considering it was just subscribed 39% till the last day of the IPO bidding process. The company caters to the Indian celebration wear market with a diverse portfolio of brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is a category leader in the branded wedding and celebration wear market with a pan-India presence, as per the company. Here is how to <keyword id="12067382" type="General" weightage="20" keywordseo="vedant-fashions-ipo" source="Orion">Vedant Fashions IPO</keyword> allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Vedant Fashions’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Vedant Fashions’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rbi-surprises-equity-markets-by-being-chill-about-inflation/articleshow/89475910.cms">RBI surprises markets by being chill about inflation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/home-loans-will-remain-cheap-for-a-little-longer/articleshow/89473251.cms">Home loans will remain cheap for a little longer</a>

Manyavar IPO: Here’s how you can check the allotment status

<ul><li>Shares of Vedant Fashions a.k.a Manyavar listed at ₹936 while the shares were allotted at ₹866 per share.</li><li>The IPO had received a tepid response from investors as its IPO was subscribed just 2.57 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹22,716 crore.</li></ul>Shares of Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, debuted with decent gains on the National Stock Exchange (NSE) and BSE at 8.08% premium over the issue price of ₹866 apiece <a href="https://www.businessinsider.in/stock-market/news/indian-stock-market-is-bummed-out-for-at-least-three-reasons-and-none-of-them-are-going-away-in-a-hurry/articleshow/89561390.cms">despite a weak market momentum</a>. Profit of ₹70 per share is much more than the early grey market premium of ₹40 the company had commanded. Post-listing, the market capitalisation of the company stood at ₹22,716 crore, according to BSE data. The shares of <keyword id="12067383" type="General" weightage="20" keywordseo="manyavar-ipo" source="Orion">Manyavar IPO</keyword> were trading at ₹951.75, higher by 9.89% at 10.28 a.m., on February 16. The ethnic wear company sells its products through five brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is one of the famous brands known for wedding collections. The IPO was open between February 4 and February 8.⁠and was oversubscribed by just 2.57 times by investors. “Vedant Fashion is debuting the secondary market on a positive note despite poor subscription figures. The company has strong brand value with good fundamentals however valuation is a major concern, therefore, investors should approach it from the long-term perspective where any dip of 15-20% from current levels will be a good buying opportunity. Those who applied for listing gain should maintain a stop loss of ₹890,” said Santosh Meena, head of research, at Swastika Investmart. However, most analysts were not very bullish on the IPO as they were not very confident about the company maintaining its profit levels in the coming years because of high margin and inflation pressure. Analysts believe it is difficult to “maintain (margins) given the competition from the local retailers, online retailers and non-branded products and building inflationary pressure. Furthermore, business is highly concentrated on wedding and festival wear and thereby vulnerable to variations in demand,” said a report Choice Broking firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-vedant-fashions-idbi-bank-and-other-hot-stocks-on-february-16/slidelist/89605353.cms">Tech Mahindra, Vedant Fashions, IDBI Bank and other hot stocks on February 16</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/renowned-music-composer-bappi-lahiri-passes-away-at-69/articleshow/89605689.cms">Renowned music composer Bappi Lahiri passes away at 69</a>

Manyavar makes an unexpectedly good listing despite a weak market momentum

<ul><li><keyword id="4509405" type="General" weightage="20" keywordseo="vedant-fashions" source="Orion">Vedant Fashions</keyword>, owner of ethnic wear brand Manyavar, will open its IPO today, February 4, and will close on February 8.</li><li>The ₹3,149 crore IPO is a complete offer for sale of 3.63 crore equity shares by promoters and existing shareholders.</li><li>Shares of the company were trading at a premium of ₹50 per share in the grey market.</li></ul>Kolkata-based Vedant Fashions, which owns ethnic wear brand Manyavar, will open its initial public offering (IPO) today, February 4. The ₹3,149 crore IPO is a complete offer for sale of 3.63 crore equity shares by promoters and existing shareholders. The price band of the IPO is ₹824 - 866 per share. Also, the company is fetching a premium of ₹50 over the upper price band of ₹866 in the grey market. Here are some of the important details of the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 4 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 8 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 11 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 14 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 15 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">February 16 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">17 </td></tr></tbody></table>The ethnic wear company sells its products through five brands -- Manyavar, Mohey, Mebaz, Manthan and Twamev. The company’s flagship brand ‘Manyavar’ is one of the famous brands known for wedding collections. As of September 30, 2021, Vedant Fashions has 535 exclusive brand outlets (EBOs) spanning across 212 cities and towns in India, and 11 EBOs overseas across the United States, Canada and the UAE. However, buying clothes from a famous brand is not similar to buying shares of the same company. <a href="https://www.businessinsider.in/stock-market/news/manyavars-vedant-fashions-ipo-is-heavily-expensive-for-investors-as-per-analysts/articleshow/89299258.cms">Click here </a>to read the analysts view on whether to subscribe to the IPO or not. The company’s profit was impacted in FY21 due to the COVID-19 situation. Adding to it, analysts are not very confident about the company maintaining its profit levels in the coming years because of high margin and inflation pressure. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/know-how-the-union-budget-2022-may-impact-home-prices/articleshow/89322645.cms">Want to buy your dream home? Know how the union budget may impact home prices</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/cognizant-reports-strong-revenue-growth-with-an-improving-attrition-rate/articleshow/89315375.cms">Cognizant is giving positive vibes to the Indian IT industry with strong revenue growth and an improving attrition rate</a>

Manyavar IPO opens today — Check out the important dates and details of the IPO

<ul><li><keyword id="236770" type="General" weightage="20" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> is likely to announce its share allotment status today.</li><li>FMCG company Adani Wilmar’s – known for edible oil brand Fortune IPO was subscribed 18.33 times.</li><li>The IPO will be listed on February 8 on exchanges.</li></ul>The fast moving consumer goods (FMCG) company Adani Wilmar’s – known for edible oil brand Fortune, is likely to announce the allotment status of its initial public offering (IPO) today, February 3. The IPO was open for subscription from January 27 to January 31. The company received bids for 212.7 crore shares as against 11.6 crore shares on offer. In the first two days of the subscription process, the IPO received a tepid response from investors as it was oversubscribed by 1.19 times. However, on the last day, Supriya Lifescience IPO received great demand from investors as its IPO was subscribed for 18.33 times the number of shares offered. Moreover, the grey market premium of the company’s shares showed a premium of ₹40 from the higher end of the price band. Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar. Here is how to <keyword id="11909643" type="General" weightage="20" keywordseo="adani-wilmar-ipo" source="Orion">Adani Wilmar IPO</keyword> allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Adani Wilmar’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Adani Wilmar’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/manyavars-vedant-fashions-ipo-is-heavily-expensive-for-investors-as-per-analysts/articleshow/89299258.cms">Here’s why analysts are saying Manyavar’s IPO is heavily expensive leaving very little room for investor profit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">More employees are leaving Tech Mahindra than TCS and Wipro</a>

Adani Wilmar IPO: Here’s how you can check the allotment status

<ul><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> went down sharply by 900 points in the early market hours mirroring some of the losses in other Asian markets.</li><li>Concerns over the US Fed hiking its interest sooner and aggressively remain elevated as the latest US data showed rise in inflation at a 40-year high.</li><li>Shares of IT, banks, FMCG and infrastructure stocks saw a huge sell-off.</li></ul>Indian markets slipped sharply on February 11 as investors got concerned over the US Fed aggressively raising its interest rates soon after inflation in the US reached a 40-year high. Benchmark indices Sensex and <keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> plunged close to 2% each on Friday. This led to weakness across global markets as even US Treasury yields also went up. Not just today, but markets have been under pressure for more than a month now on fear of a liquidity shift from emerging markets when US hikes the interest rates. Because of high inflation, the US central bank has been looking to stop measures for economic stimulus and increase interest rates sooner than expected. Rise in the US interest rate does not bode well for the Indian markets, which have seen strong foreign inflows because of pandemic-led easy monetary policies in the US till now. Shares of technology companies, banks, fast moving consumer goods (FMCG) and infrastructure stocks saw a huge sell-off. <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;">Top losers </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;">% change as of 10:40 a.m. </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;">Grasim Industries </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;">-3.45% </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;">Infosys </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;">-2.82% </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;">Tech Mahindra </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;">-2.71% </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;">Nestle 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;">-2.49% </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 Industries </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;">-2.46% </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;">Bajaj Finance </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;">-2.18% </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;">Wipro </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;">-2.45% </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;">Larsen &amp; Toubro </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;">-2.29% </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;">Titan </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;">-2.09% </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 </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;">-2.08% </td></tr></tbody></table>This comes ahead of the most awaited public issue of Life Insurance Corporation (LIC) that is expected to boost investor participation in the market. Analysts say that since LIC will be one of largest initial public offerings (IPO) in the country, all categories of investors — mutual funds, insurance companies, individual investors — will be subscribing to the IPO. This means that investors might be keeping aside some money for the large IPO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/drop-in-food-delivery-charge-pleases-zomatos-customers-but-not-investors/articleshow/89494347.cms">Zomato’s customers are happy, but investors are not</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-your-allotment-status-for-manyavar-ipo/articleshow/89488294.cms">Manyavar IPO: Here’s how you can check the allotment status</a>

Indian markets plunge on concerns over rising inflation in the US

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s loss has reduced sharply in the last months to ₹63 crore from ₹352 crore last year.</li><li>However, investors were still disappointed as the company’s drop in customer delivery charges affected its revenue growth.</li><li>As a result, shares of the company slipped 6% to ₹88 on Friday morning.</li></ul>Online food delivery firm Zomato’s loss is finally declining, but that is not enough to please investors. The company’s consolidated loss narrowed sharply to ₹63 crore for the quarter ended December as against a loss of ₹352 crore in the same period last year. The company had reduced its customer delivery charges, which had impacted its adjusted revenue and gross order value in the quarter. Gross order value grew merely by 1.7% quarter-on-quarter to ₹55 billion in October to December. “We believe that the weak QoQ [quarter-on-quarter] growth in gross order value was primarily due to reduction in customer delivery charges as mentioned above, in addition to a soft impact of post-COVID reopening (including some shift from delivery to dining out),” said Zomato. Also, average order value (which includes customer delivery charges) shrunk by close to 3% quarter-on-quarter, mostly on account of reduction in customer delivery charges. Analysts at Credit Suisse <a href="https://twitter.com/CNBCTV18Live/status/1491955202274238465">reportedly </a>said that this was a weak quarter for the company as growth in gross order value slowed down. <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;">Brokerages </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;">Target price </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;">BofA Securities </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;">₹115 </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 Suisse </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;">₹120 </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;">Morgan Stanley </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;">₹150 </td></tr></tbody></table>Following this, shares of the company slipped 6% on February 11 to ₹88, very close to its issue price of ₹76. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-your-allotment-status-for-manyavar-ipo/articleshow/89488294.cms">Manyavar IPO: Here’s how you can check the allotment status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/government-blocks-over-60-social-media-accounts-for-spreading-anti-india-fake-news/articleshow/89478547.cms">Government blocks over 60 social media accounts for spreading anti-India fake news</a>

Zomato’s customers are happy, but investors are not

Equity benchmark <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> tumbled over 600 points in the opening session on Friday, mainly due to weakness in IT and financial stocks amid a weak trend in global markets. The BSE gauge was trading 611.54 points or 1.04 per cent lower at 58,314.49 in early trade. Likewise, the Nifty fell 168.95 points or 0.96 per cent to 17,436.90. Infosys was the top loser in the Sensex pack, shedding over 2 per cent, followed by <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword>, <keyword id="141968" type="General" weightage="20" keywordseo="hcl-tech" source="Orion">HCL Tech</keyword>, <keyword id="45123" type="General" weightage="20" keywordseo="hdfc" source="Orion">HDFC</keyword>, Bajaj Finance, M&amp;M and Bajaj Finserv. On the other hand, <keyword id="45179" type="General" weightage="20" keywordseo="ntpc" source="Orion">NTPC</keyword> and Nestle India were the only gainers. In the previous session, the 30-share BSE Sensex settled 460.06 points or 0.79 per cent higher at 58,926.03. Likewise, the broader NSE Nifty jumped 142.05 points or 0.81 per cent to end at 17,605.85. The Reserve Bank of India (RBI) on Thursday held its key lending rates steady at record low levels for the 10th straight meeting to support a durable recovery of the economy from the COVID-19 pandemic. Elsewhere in Asia, bourses in Tokyo and Shanghai were trading with gains in mid-session deals, while Hong Kong and Seoul were in the red. Stock exchanges in the US finished with deep losses in the overnight session, under pressure from crucial US inflation data, falling technology shares and rising benchmark bond yields. "Stocks were largely lower in Asia on Friday after Treasuries and Wall Street shares sank on a jump in US inflation to a fresh four-decade high that stirred hawkish comments from a Federal Reserve official," said Deepak Jasani, Head of Retail Research, HDFC Securities. Jasani further added that the US Fed may have to act swiftly and aggressively to make sure inflation doesn't get any worse. "St. Louis Fed Chair James Bullard said the central bank should hike rates by 100 basis points over the next three meetings. He raised the possibility of considering a move in between scheduled policy reviews," he said. Meanwhile, international oil benchmark Brent crude slipped 0.16 per cent to USD 91.26 per barrel. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,732.58 crore on Thursday, according to stock exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/drop-in-food-delivery-charge-pleases-zomatos-customers-but-not-investors/articleshow/89494347.cms">Zomato’s customers are happy, but investors are not</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/here-is-how-to-check-your-allotment-status-for-manyavar-ipo/articleshow/89488294.cms">Manyavar IPO: Here’s how you can check the allotment status</a>

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