<ul><li><keyword id="541988" type="General" weightage="20" keywordseo="snapdeal" source="Orion">Snapdeal</keyword>’s IPO consists of a fresh issue of ₹1,250 crore.</li><li>The company plans to set up offline centers through offline stores and new franchises.</li><li>It also wants to invest and set up new Power Brands, which is owned by the company but manufactured by someone else.</li></ul>Indian ecommerce giant Snapdeal is now looking to set up offline distribution network, the company revealed in its preliminary paperwork for its initial public offering (IPO). Snapdeal’s IPO consists of fresh issue of ₹1,250 crore and offer for sale of over 3 crore equity shares. The company, in the draft red herring prospectus (DRHP), has highlighted that “a successful value ecommerce player with an omni-channel presence will be able to capture shoppers’ mindshare across both online and offline channels.” Value ecommerce brands are companies that offer affordable products. Snapdeal already competes with online-only players the likes of Amazon and Flipkart, but it will enter into competition with offline value retailers like V Mart, Future Retail and D Mart. <div type="image" title="Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion" msid="88408070" hostid="261"></div> As a part of its expansion plan, the company will create distribution channels through offline stores, existing neighbourhood stores as well as new franchises. This will help the company increase the customer’s trust in the brand and allow them to try the product before purchase. According to a Redseer report, the majority of India’s overall value lifestyle retail segment sales happen offline and most of it is unorganised and unbranded. The top 15 offline retailers had a combined annual revenue of approximately $5.5 billion in the fiscal year 2020, which accounted for less than 6% of the overall value lifestyle retail market. “The market is very fragmented, with the top retailers accounting for only a fraction of the overall market,” the management consultancy firm noted, highlighting that there is a large headroom for revenue growth in this segment. Snapdeal, while citing the RedSeer report, also noted that they would not have to worry about delivery reliability, return experience, shipping costs and user interface in the offline value distribution. Snapdeal also wants to invest and set up new Power Brands, where the company owns the intellectual property of the brand but licences to third-party sellers for manufacturing. It already has 13 such power brands, including mens grooming brand MoochWale, watches brand David Miller, healthcare brand 9+ lives. These brands made up for 5.6% of all purchases on Snapdeal between April to September 2021. <div type="image" title="Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion" msid="88408047" hostid="261"></div>SEE ALSO <a href="https://www.businessinsider.in/science/health/news/covishield-vaccine-not-as-effective-after-three-months-so-consider-booster-shot-says-lancet-report/articleshow/88404738.cms" data-type="tilCustomLink">Lancet article makes a case that those who took Covishield vaccine need booster shots</a> <a href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms" data-type="tilCustomLink">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a> <a href="https://www.businessinsider.in/business/startups/news/zepto-raised-100-million-at-570-valuation-to-deliver-product-in-10-minutes/articleshow/88394937.cms" data-type="tilCustomLink">Two teenage Stanford dropouts have made their startup worth half a billion in 7 months</a>

Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion

The <keyword id="19949639" type="General" weightage="20" keywordseo="Rupee" source="keywords">rupee</keyword> opened flat at 83.73 against the US currency on Tuesday as the <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> remained firm in overseas markets. At the interbank currency exchange, the rupee opened firm at 83.73 and was trading in the range of 83.73 to 83.74 in early trade. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said a decline in crude oil prices supported the rupee but firm dollar overseas restricted gains for the domestic unit. Month-end dollar demand as well as forex outflows also kept the rupee in a tight range. The rupee continued to trade flat at 83.73 against the US dollar at 9.45 am. In the domestic equity market, the 30-share BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> rose 67 points to 81,423.53, while Nifty advanced 25 points to 24,861.35 in early trade on Tuesday. The Sensex had advanced 23.12 points, or 0.03 per cent, to settle at 81,355.84 points, on Monday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.6070, marginally up 0.04 per cent. Brent crude futures -- the global oil benchmark -- slipped 0.33, or 0.41 per cent, to <keyword id="19944038" type="General" weightage="20" keywordseo="USD" source="keywords">USD</keyword> 79.45 per barrel. Foreign institutional investors (FIIs) were net sellers in the capital markets on Monday, selling shares worth Rs 2,474.54 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms" target="_blank">Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens</a><a href="https://www.businessinsider.in/tech/news/redmi-pad-pro-5g-with-snapdragon-7s-gen-2-launched-in-india-starting-at-21999/articleshow/112105133.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/redmi-pad-pro-5g-with-snapdragon-7s-gen-2-launched-in-india-starting-at-21999/articleshow/112105133.cms" target="_blank">Redmi Pad Pro 5G with Snapdragon 7s Gen 2 launched in India starting at ₹21,999</a><a href="https://www.businessinsider.in/tech/mobile/news/iphone-price-cut-apple-announces-price-cut-after-reduction-in-customs-duty/articleshow/112100195.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-price-cut-apple-announces-price-cut-after-reduction-in-customs-duty/articleshow/112100195.cms" target="_blank">iPhone price cut – Apple announces price cut after reduction in customs duty</a>

Rupee remains flat at 83.73 against US dollar in early trade

The <keyword id="19895160" type="General" weightage="20" keywordseo="EU" source="keywords" meta.keywordsubtype="org" meta.entityname="EU" meta.hostid="261" meta.entityid="EU">EU</keyword> has suggested that <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords" meta.keywordsubtype="org" meta.entityname="India" meta.hostid="261" meta.entityid="India">India</keyword> can devise its own mechanism instead of paying the <keyword id="20251184" type="General" weightage="20" keywordseo="carbon-tax" source="keywords">carbon tax</keyword> to the European Union, Commerce and Industry Minister <keyword id="19895367" type="General" weightage="20" keywordseo="piyush-goyal" source="keywords">Piyush Goyal</keyword> said on Tuesday. <keyword id="19895372" type="General" weightage="20" keywordseo="Goyal" source="keywords">Goyal</keyword> said the ministry would consider the EU's suggestion and come up with whatever is good for the Indian industry and for the people. He added India is in dialogue with the European Union (EU) on the tax or Carbon Border Adjustment Mechanism (<keyword id="20367525" type="General" weightage="20" keywordseo="CBAM" source="keywords">CBAM</keyword>). The minister said he feels the CBAM will hurt the EU "very" badly, as infrastructure, cost of living, industrial and consumer products will become expensive. The EU's economy will also face further distress that is "my reading of CBAM", Goyal said. "They (EU) are very keen to pursue that and they have offered that India could instead of paying CBAM tax to the EU, devise its own mechanism. We will consider their suggestion and come up with whatever is good for the Indian industry and for the people of India," he told reporters here. As per reports, an EU delegation has suggested to New Delhi that India could implement its own carbon tax and reduce carbon emissions. The EU has decided to impose a CBAM, or carbon tax, which will come into effect from January 1, 2026, but from October this year, domestic companies from seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products, would have to share data with regard to carbon emissions with the EU. India has strongly criticised the move and is in dialogue with the EU on the issue. SEE ALSO:<a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms" target="_blank">Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens</a><a href="https://www.businessinsider.in/tech/news/redmi-pad-pro-5g-with-snapdragon-7s-gen-2-launched-in-india-starting-at-21999/articleshow/112105133.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/redmi-pad-pro-5g-with-snapdragon-7s-gen-2-launched-in-india-starting-at-21999/articleshow/112105133.cms" target="_blank">Redmi Pad Pro 5G with Snapdragon 7s Gen 2 launched in India starting at ₹21,999</a><a href="https://www.businessinsider.in/tech/mobile/news/iphone-price-cut-apple-announces-price-cut-after-reduction-in-customs-duty/articleshow/112100195.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-price-cut-apple-announces-price-cut-after-reduction-in-customs-duty/articleshow/112100195.cms" target="_blank">iPhone price cut – Apple announces price cut after reduction in customs duty</a>

Will consider EU suggestion on CBAM, come up with whatever good for Industry: Goyal

<ul><li>Ola Electric is expected to announce its IPO share allotment status on Wednesday, August 7.</li><li>The shares of Ola Electric were subscribed 4.26 times.</li><li>The Ola Electric shares are expected to be listed on the stock exchanges on August 9.</li></ul>Bengaluru-based Ola Electric, an electric two-wheeler maker is expected to announce the allotment status of its initial public offering (IPO) on Wednesday, August 7. The <keyword id="17514461" type="General" weightage="20" keywordseo="Ola-Electric-IPO" source="Orion">Ola Electric IPO</keyword> opened on August 2 and closed on August 6. The price band for the Ola Electric IPO was ₹72 to ₹76 per share. <h2><keyword id="22582583" type="General" weightage="20" keywordseo="Ola-Electric-ipo-subscription" source="Orion">Ola Electric IPO subscription</keyword> status</h2>On its last day, the Ola Electric IPO was subscribed 4.26 times, receiving bids for 198.16 crore equity shares against 46.52 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 5.31 times, the non-institutional investor's portion was subscribed 2.39 times. The retail portion was subscribed 3.86 times. The employee portion was subscribed 11.66 times. <h2>Ola Electric IPO Grey market premium</h2>The shares of Ola Electric are currently not commanding a grey market premium (GMP). GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. How to check the Ola Electric IPO’s allotment status You can check the <keyword id="22664013" type="General" weightage="100" keywordseo="Ola-Electric-IPO-allotment" source="Orion">Ola Electric IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Ola Electric IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Ola Electric’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on submit.</li></ul>You will be able to see your Ola Electric IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Ola Electric IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Ola Electric’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of Ola Electric shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Ola Electric IPO allotment status on NSE. <h2>Ola Electric IPO listing date</h2>The shares of Ola Electric will be listed on the stock exchanges on August 9. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms">Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens</a>

Ola Electric IPO allotment – How to check allotment, IPO GMP, listing date and more

Commerce and Industry Minister Piyush Goyal on Tuesday said there is no rethinking in the government to support <keyword id="19999774" type="General" weightage="20" keywordseo="foreign-direct-investments" source="keywords">foreign direct investments</keyword> (FDI) from China as was pitched by the Economic Survey recently. He said it was a report that always speaks about new ideas and gives out their own thinking. The Survey, he said, is not at all binding on the government and there is no thinking on supporting <keyword id="21082394" type="General" weightage="20" keywordseo="Chinese-investments" source="keywords">Chinese investments</keyword> in the country. "There is no rethinking at present to support Chinese investments in the country," the minister told reporters here. In 2020, the government made its approval mandatory for FDI from countries that share landed border with India. Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan. The minister was responding on a pitch made by the pre-Budget Economic Survey on July 22 for seeking <keyword id="20548412" type="General" weightage="20" keywordseo="FDI-from-China" source="keywords">FDI from China</keyword> to boost local manufacturing and tap the export market. As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then, export the products to these markets rather than importing from the neighbouring country, the survey has said. India faces two choices to benefit from the 'China plus one strategy' -- it can integrate into China's supply chain or promote FDI from China. "Among these choices, focusing on FDI from China seems more promising for boosting India's exports to the US, similar to how East Asian economies did in the past. Moreover, choosing FDI as a strategy to benefit from the China plus one approach appears more advantageous than relying on trade. This is because China is India's top import partner, and the trade deficit with China has been growing," it has added. China stands at the 22nd position with only 0.37 per cent share (USD 2.5 billion) in the total FDI equity inflow reported in India from April 2000 to March 2024. The ties between the two countries nosedived significantly following the fierce clash in the Galwan Valley in June 2020 that marked the most serious military conflict between the two sides in decades. The Indian and Chinese militaries have been locked in a stand-off since May 2020, and a full resolution of the border row has not yet been achieved, though the two sides have disengaged from several friction points. India has been maintaining that its ties with China cannot be normal unless there is peace in the border areas. Following these tensions, India has banned over 200 Chinese mobile apps like TikTok, WeChat, and Alibaba's UC browser. The country has also rejected a major investment proposal from electric vehicle maker BYD. However, earlier this year, the Competition Commission of India (CCI) cleared JSW Group's proposed acquisition of a 38 per cent stake in MG Motor India Pvt Ltd. MG Motor India is a wholly owned subsidiary of Shanghai-headquartered SAIC Motor. Though India has received minimal FDI from China, the bilateral trade between the two nations has grown multi-fold. China has emerged as the largest trading partner of India with USD 118.4 billion two-way commerce in 2023-24, edging past the US. India's exports to China rose 8.7 per cent to USD 16.67 billion in the last fiscal. The main sectors that recorded healthy growth in exports to that country include iron ore, cotton yarn/fabrics/made-ups, handloom, spices, fruits and vegetables, plastic and linoleum. Imports from the neighbouring country increased 3.24 per cent to USD 101.7 billion. The trade deficit widened to USD 85 billion in the last fiscal year from USD 83.2 billion in 2022-23. According to the commerce ministry data, China was India's top trading partner from 2013-14 till 2017-18 and in 2020-21. Before China, the UAE was the country's largest trading partner. The US was the largest partner in 2021-22 and 2022-23. SEE ALSO:<a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-electric-ipo-mapmyindia-accuses-company-of-stealing-map-data-days-before-ipo-opens/articleshow/112109869.cms" target="_blank">Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens</a><a href="https://www.businessinsider.in/tech/news/redmi-pad-pro-5g-with-snapdragon-7s-gen-2-launched-in-india-starting-at-21999/articleshow/112105133.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/redmi-pad-pro-5g-with-snapdragon-7s-gen-2-launched-in-india-starting-at-21999/articleshow/112105133.cms" target="_blank">Redmi Pad Pro 5G with Snapdragon 7s Gen 2 launched in India starting at ₹21,999</a><a href="https://www.businessinsider.in/tech/mobile/news/iphone-price-cut-apple-announces-price-cut-after-reduction-in-customs-duty/articleshow/112100195.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-price-cut-apple-announces-price-cut-after-reduction-in-customs-duty/articleshow/112100195.cms" target="_blank">iPhone price cut – Apple announces price cut after reduction in customs duty</a>

No rethinking on supporting Chinese investments in India: Goyal

Markets ended the day on a positive note, with <keyword id="19925635" type="General" weightage="100" keywordseo="Nifty50" source="keywords">Nifty50</keyword> inching up 0.22% to close at 23,567 points, and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> closing at 77,478.93, up by 0.18%. Nifty reached an intraday high of 23,624 points, and a low of 23,442.60 points. Except for <keyword id="20038712" type="General" weightage="20" keywordseo="Nifty-auto" source="keywords">Nifty auto</keyword>, <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">pharma</keyword> and <keyword id="19973973" type="General" weightage="20" keywordseo="PSU-bank" source="keywords">PSU bank</keyword>, which closed in red, all major sectoral indices were trading in green. <keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords">Hero MotoCorp</keyword> (down by 2.40%), <keyword id="20480977" type="General" weightage="20" keywordseo="Mahindra-and-Mahindra" source="keywords">Mahindra and Mahindra</keyword> (down by 2.04%) and <keyword id="20026907" type="General" weightage="20" keywordseo="Sun-Pharma" source="keywords">Sun Pharma</keyword> (down by 1.80%) were amongst the biggest losers during the day's trade. On the other hand, <keyword id="20129733" type="General" weightage="20" keywordseo="Hindalco" source="keywords">Hindalco</keyword> (up by 2.34%), Grasim (up by 2.2%) and BPCL (up by 1.82%), were amidst the biggest gainers of the day. Notably, Sun Pharma had received a warning letter from the <keyword id="19914245" type="General" weightage="20" keywordseo="USFDA" source="keywords" meta.keywordsubtype="org" meta.entityname="USFDA" meta.hostid="261" meta.entityid="USFDA">USFDA</keyword> for violating manufacturing practices in their Dadra unit. At the time of market close, the stock was trading at Rs 1,477. Amongst the 2,768 stocks traded during the day, 1,737 saw advances, while 943 saw a decline. 188 stocks hit their 52-week high and 8 stocks hit their yearly low. 138 stocks hit the upper circuit, or maximum permissible price limit in a session, and 34 stocks hit the lower circuit during the day’s trade. As per Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd, “domestic benchmark index, Nifty opened on a strong tone, consolidated within a narrow range, and ended the day on a positive note. However, the index has managed to close above 23,500 levels, indicating strength. As long as the index holds 23,330 levels, it may test 23,800–24,000 levels in the short term. Thus, a buy-on-dips strategy should be used in the Nifty, with support at 23,330”. On the BSE, MapMyIndia, RCF, NFL and Chambal Fertilisers emerged as the day’s gainers. Notably, Goldman Sachs initiated coverage of the company, adding 20% to the stock during the day. Shares of fertiliser companies like RCF and Chambal fertilisers also spiked during the day, pumped by reports of proposal to remove Goods and Service Tax (GST) on fertilisers. The final decision will be taken by the GST council on 22nd June. According to Shrikant Chouhan, Head Equity Research, Kotak Securities, “the benchmark indices continued range bound activity; the Nifty ended 51 points higher while the Sensex was up by 141 points. Among Sectors, Reality index outperformed and rallied over 2% whereas Pharma and Auto indices witnessed intraday profit booking at higher levels". "Technically, after a muted opening the entire day, the market hovered between 23,450 to 23620 (NSE) and 77,100-77,600 levels on BSE. From the last couple of days the market witnessed narrow range activity which indicates indecisiveness between the bulls and the bears", he noted.

Market closing: Sun Pharma, Hero Moto lose as fertiliser stocks shine

India is possibly facing an Enron moment, former US treasury secretary and former Harvard University president <keyword id="192145" type="General" weightage="50" keywordseo="larry-summers" source="Orion">Larry Summers</keyword> said likening the crisis in <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> group to the accounting scandal that exposed the US energy major in 2001. "We haven't talked about it on the show, but there's been a kind of possible Enron moment in India," he said during Bloomberg's Wall Street Week last week. Though he did not name Adani, he was referring to the crisis that the apples-to-airport conglomerate is facing following an explosive report by US short seller <keyword id="9916845" type="General" weightage="20" keywordseo="hindenburg-research" source="Orion">Hindenburg Research</keyword>. Adani has denied all allegations. "And I imagine with India emerging as the world's largest country, and the (G20) meeting taking place in India, there's going to be a lot of curiosity from all present, about how that's gonna to play through and what if any larger systemic implications that's gonna have for India," Summers said. The comparison was to Enron Corporation shares plummeting in 2001 following revelation that the company inflated revenues and hid trading losses. Adani group companies too have seen a rout in value totalling over Rs 11 lakh crore since Hindenburg released a report on January 24. Hindenburg accused Adani Group of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices. The group has denied allegations, calling them "malicious", "baseless" and a "calculated attack on India". Its founder chairman <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, a first-generation entrepreneur, has lost nearly USD 78 billion in net worth and slipped to 29th rank on the world billionaire index from being Asia's richest and the world's third most wealthy businessman, in less than a month. His wealth has shrunk from about USD 120 billion to USD 42.7 billion. Summers made the comments while referring to the meetings of G20 that India is hosting this year. The first G20 finance ministers and central bank governors (FMCBG) meeting under the G20 Indian Presidency is to begin in Bengaluru on Friday. "I hope we're gonna see continued good work along the lines of very powerful calls that (US treasury secretary) Janet Yellen has made for World Bank reform," he said. "I hope we're going to see some progress on the debt issue." He was of the opinion that there is a need for careful thinking about funding, the ongoing economic challenges and the ultimate reconstruction in Ukraine. "And I think this issue of the global economy where there's substantial inflationary pressure, and the breaks are having very uneven effects and how that's going to play out is going to be an important area that the ministers and governments are going to have to discuss," he said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambanis-jiocinema-to-take-on-disney-hotstar-and-amazon-prime-with-free-4k-ipl-streaming/articleshow/98150380.cms">Mukesh Ambani’s JioCinema to take on Disney+ Hotstar, and Amazon Prime with free 4K IPL streaming</a> <a href="https://www.businessinsider.in/tech/gadgets/news/mapmyindia-launches-gps-trackers-smart-helmet-kits-dash-cam-and-more-starting-at-2990/articleshow/98177325.cms">MapmyIndia launches GPS trackers, smart helmet kits, dash cam, and more starting at ₹2,990</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a>

India facing 'possible Enron moment', says Larry Summers on Adani crisis

<ul><li>Share prices of most new-age start-ups have been battered since the start of this year due to market corrections.</li><li>A recent report by investment bank DC Advisory notes that these market corrections are likely to reverse by next year.</li><li>A strong listing can even bring back the enthusiasm quicker</li></ul>It has been a tough year for India’s new-age start-ups as shares of recently listed companies like <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, PolicyBazaar, Nykaa and <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> take a beating at the bourses while funding dries up for private firms. Global market corrections due to the Russian-Ukraine conflict and weak business fundamentals are being blamed for the current situation Zomato — which crossed $13 billion in market capitalisation last year — is now valued less than its unlisted rival Swiggy at $5.5 billion. Paytm — which was the highest valued start-up in India at one point at $18 billion — is now barely at $5.9 billion at the moment. A recent report by investment bank DC Advisory noted that these “market corrections are not sticky” and were likely to come down as early as the first half of 2023. A strong <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> listing could help bring back the cheer. “A few positive events in the near future such as a strong listing for a digital-first company could have a domino effect and bring enthusiasm back to the market quicker than we all anticipate,” the investment bank said, while adding that the current market scenario has been a deterrent to companies planning to go public. <cmsannotation type="cmsannotation" annotationid="Companies go slow on IPO plans" comment="subhead" text="Companies go slow on IPO plans">Companies go slow on IPO plans</cmsannotation> The year 2021 saw India’s young start-up ecosystem mature as ten <keyword id="15935" type="General" weightage="20" keywordseo="tech-companies" source="Orion">tech companies</keyword> — namely EaseMyTrip, Zomato, CarTrade, Nykaa, Fino, PolicyBazaar, Paytm, Nazara, RateGain and MapMyIndia — made their public debut. One of the highlights of 2021 was the listing of software-as-a-service (SaaS) company Freshworks which had a stellar debut on the Nasdaq, turning<a href="https://www.businessinsider.in/stock-market/news/freshworks-ipo-500-crorepatis-12-billion-market-cap-and-more-that-emerged-from-indias-first-saas-listing-at-nasdaq/articleshow/86445614.cms"> 500 of its employees into millionaires</a>. <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;">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;">% change since listing </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;">-39.75% </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;">Zomato </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;">-54.91% </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;">Paytm </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;">-52.77% </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;">Delhivery </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;">11.02% </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;">Freshworks </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;">-72.68% </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;">PolicyBazaar </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;">-52.02% </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;">EaseMyTrip </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;">263.71% </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;">MapMyIndia </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;">1.29% </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;">Nazara Technologies </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;">-42.06% </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;">RateGain </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;">-12.62% </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;">CarTrade </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;">-55.74% </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;">Fino Payments 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;">-53.54% </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;">Veranda Learning </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;">58.49% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Date: As of 11:14 am, July 14, 2022 However, most of these companies, including Freshworks, have lost their spark in the stock market mainly due to market correction, business performance and the ongoing Russia-Ukraine crisis. The disappointing market debut of Life Insurance Corporation, one of the most anticipated IPOs, and its continued underperformance, down 18 percent since its debut in May, has made more companies wary of going ahead with an IPO this year. “Tech IPOs, which saw a frenzy of activity last year, have delivered a disappointing performance for investors. We expect limited movement in IPO markets in the near term as investors try to rebuild conviction on digital stocks,” DC Advisory added. Companies like OYO, ixigo, Droom, Mobikwik, PharmEasy and SnapDeal were planning to go for a public listing this year and have already filed their papers with the Securities and Exchange Board of India (SEBI). Mobikwik and ixigo have also received an approval. Mobikwik, in a previous <a href="https://www.businessinsider.in/business/startups/news/mobikwik-ipo-is-not-happening-this-quarter/articleshow/89891819.cms">conversation with Business Insider</a>, has said that it will wait for the right market conditions to go public. <cmsannotation type="cmsannotation" annotationid="Prepping for a funding winter" comment="subhead" text="Prepping for a funding winter">Prepping for a funding winter</cmsannotation> Several stakeholders, investors and entrepreneurs have been girding for a funding winter that is expected to last anywhere between 12-24 months. The start-ups have already started laying off people, impacting at least <a href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-a-little-over-11000-people-in-the-last-six-months/articleshow/92541036.cms">11,695 employees</a> this year alone. According to several experts Business Insider has spoken to, investors have a limited capital to invest and that is making them even more choosy. Industry’s biggest players, who already have heavy backing, may not face many hurdles in raising funds but smaller players may struggle. Investors have also become strict about valuing businesses. Media reports suggest that e-commerce company Meesho has been trying to close another funding round at a valuation of around <a href="https://timesofindia.indiatimes.com/business/india-business/meesho-to-raise-1bn-at-valuation-of-8bn/articleshow/87859070.cms">$8 billion</a> but has not been able to find investors. This tightening of the funding from venture capitalists (VC) and private equity (PE) is likely to spur a lot more mergers and acquisitions in the tech sector, the report added. ”We believe a shakeout within PE/VC deals in the tech sector was long overdue and expect a lot more consolidation in the market going forward,” the report said. SEE ALSO <a href="https://www.businessinsider.in/tech/enterprise/news/indian-tech-firms-contributed-nearly-200-billion-to-the-us-economy-creating-2-lakh-jobs/articleshow/92854889.cms">Indian tech firms contributed nearly $200 bn to the US economy, more than the combined economies of 20 US states</a> <a href="https://www.businessinsider.in/business/news/fintechs-are-helping-indian-msmes-get-over-their-biggest-challenges-but-there-is-still-a-long-way-to-go/articleshow/92848620.cms">Fintechs are helping Indian MSMEs with their biggest challenge — data and the lack of it</a> <a href="https://www.businessinsider.in/business/startups/news/karan-virwani-kunal-shah-and-4-other-startup-ceos-invest-in-a-real-estate-venture/articleshow/92829944.cms">Karan Virwani, Kunal Shah and 4 other startup CEOs invest in a real estate venture</a>

As Zomato, Paytm and new-age start-ups struggle at bourses, their unlisted peers stare at funding winter

<ul><li>Footwear retailer <keyword id="9095636" type="General" weightage="20" keywordseo="metro-brands" source="Orion">Metro Brands</keyword> has opened its IPO today and will close on December 14.</li><li>The Rakesh Jhunjhunwala-backed company is looking to raise ₹1,367 crore, which consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters.</li><li>Shares of the company are demanding a premium of ₹70 in the grey market while the price band is at ₹485 to ₹500. </li></ul>Marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India, has opened its initial public offering (IPO) today, December 10. Started in 1955 as a footwear specialty retailer in India, Metro Brands now caters to footwear needs of men, women, unisex and kids. It operates 586 stores across 134 cities spread across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. Along with physical stores, it sells products through websites, various online marketplaces, as well as, social media platforms. The IPO consists of a fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters. The company will use the proceeds from the fresh issue to open new stores under brands such as Metro, Mochi, Walkway and Crocs and remaining funds will be used for general corporate purposes. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹485 to ₹500 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">GMP </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">70 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 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 #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 10 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 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 #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 14 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 17 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 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 #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 20 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 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 #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 21 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 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 #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 22 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30 </td></tr></tbody></table> <div type="image" title="metro brand rev" height="900" width="1200" msid="88194907" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mapmyindia-ce-info-systems-ipo-analysts-see-as-long-term-bet-on-being-pioneer-in-digital-maps/articleshow/88180960.cms">Analysts see MapmyIndia as a long term bet on being a pioneer in digital maps</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/byjus-has-acquired-yet-another-startup-this-time-from-austria/articleshow/88177950.cms">Byju's has acquired yet another startup, this time from Austria</a>

Metro Brands’ IPO opens today — here are all the important details you need to know

<ul><li>CMS Info Systems’ IPO opens on December 21 and closes on December 23.</li><li>The price band of the cash management company IPO is ₹205 to ₹216 per share.</li><li>The company plans to raise ₹1,100 crore via public issue of shares, which is a complete offer for sale by promoter Sion Investment Holdings PTE.</li></ul>Mumbai-based cash management company CMS Info Systems is all set to open its initial public offering (IPO) on December 21 and close on December 23. The company is looking to raise ₹1,100 crore via public issue of shares, which is a complete offer for sale by promoter Sion Investment Holdings PTE, an affiliate of Baring Private Equity Asia. The promoter acquired the company in 2015 and holds a 100% stake in the company at present. As a result the company will not receive any money from the IPO. CMS Info Systems claims to be India's largest cash management company based on number of installed ATM points and number of retail pick-up points as of March 2021. Its business includes installing, maintaining and managing assets and technology solutions on an end-to-end outsourced basis for banks under long term contracts. Business operations in three segments: <table style="border-width: initial; border-style: none;"></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;">Revenue from operations </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;">Description </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;">% percentage of total income in FY21 </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;">Cash management services </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;">Include end-to-end ATM replenishment services, cash pick-up and delivery, cash-in-transit services for banks </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;">67.79% </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;">Managed services </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;">Banking automation product sales, common control systems, and software solutions </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;">27.54% </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;">Others </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;">Financial cards issuance for banks and card personalisation services </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;">3.47% </td></tr></tbody></table> Also, it caters to a broad set of outsourcing requirements for banks, financial institutions, organised retail and e-commerce companies in India. Here are important details related to 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;">Price band </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;">₹205 to ₹216 </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;">December 21 </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;">December 23 </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;">December 28 </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;">December 29 </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;">December 30 </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;">December 31 </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;">13 </td></tr></tbody></table> <div type="image" title="CMS Info rev" height="900" width="1200" msid="88317691" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-raises-half-a-billion-dollars-in-debt-to-fuel-its-food-delivery-and-quick-commerce-dream/articleshow/88314624.cms">Ola raises half a billion dollars in debt to fuel its food delivery and quick commerce dream</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rategain-travel-technologies-ipo-is-listing-tomorrow-gmp-at-45-per-share/articleshow/88307299.cms">RateGain Travel Technologies is listing tomorrow; GMP at ₹45 per share</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-heres-how-to-check-your-allotment-status/articleshow/88307117.cms">Have you applied for MapmyIndia’s IPO? Here’s how to check if you’ve been allotted shares</a>

CMS Info Systems’ IPO to open on December 21 — Here are the important dates and details

<ul><li>Anand Rathi Wealth has received a decent response from investors in the IPO as it was subscribed 9.78 times in 3 days.</li><li>However, the grey market premium has been falling each day. Today, GMP stood at ₹25 per share falling from ₹125 earlier.</li><li>The allotment of the IPO is scheduled on December 9.</li></ul>Wealth management firm Anand Rathi Wealth has received good response from investors in its initial public offering (IPO) as the issue has been oversubscribed by 9.78 times. If you have subscribed to the IPO, remember the allotment of the IPO is scheduled for tomorrow, December 9. However, the grey market premium of the company's shares continue to fall since the last couple of days. Currently, the premium for Anand Rathi Wealth’s shares is at ₹25 per share from ₹125 earlier. The IPO is in the price range of ₹530-₹550 per share. <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;">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;">Subscription </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;">2.50 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;">25.42 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 </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;">7.76 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;">9.78 times </td></tr></tbody></table> Anand Rathi has a dominant position in the distribution of financial products, with a focus on the growing HNI segment. Currently, Anand Rathi Wealth is present across 11 cities in India -- Mumbai, Bengaluru, Delhi, Gurugram, Hyderabad, Kolkata, Chennai, Pune, Chandigarh, Jodhpur and Noida with a representative office in Dubai. Further, the company aims to double its assets under management in the 3-5 years, said Amit Rathi, managing director at Anand Rathi in an <a href="https://www.businessinsider.in/business/corporates/news/anand-rathi-aims-to-double-its-assets-under-management-in-the-next-3-5-years/articleshow/88069928.cms">interview with Business Insider.</a> “Anand Rathi Wealth generates higher revenue yields compared to competition as the company has consciously avoided stock broking and stock advisory businesses and restricted its focus to the high yielding segments of distribution of structured products and mutual funds,” said Nirmal Bang while recommending ‘subscribe’ rating to the IPO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/rategain-travel-shriram-properties-ce-info-systems-mapmyindia-and-metro-brands-these-ipos-opening-in-the-next-couple-of-days/articleshow/88140211.cms">RateGain, Shriram, MapmyIndia and more — Check out the important dates of these upcoming IPOs and their grey market premiums</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/spinny-is-the-latest-used-car-platform-to-join-cars24-droom-and-cardekho-in-unicorn-club/articleshow/88140551.cms">Spinny is the latest used car platform to join Cars24, Droom and CarDekho in unicorn club</a>

Grey market premium for Anand Rathi Wealth IPO is down to ₹25 from ₹125

<ul><li>Footwear retailer <keyword id="12783358" type="General" weightage="20" keywordseo="metro-brands-ipo" source="Orion">Metro Brands’ IPO</keyword> was open for subscription between December 10 and December 14.</li><li>The Rakesh Jhunjhunwala-backed company received a moderate interest from investors as it was subscribed just 3.64 times.</li><li>Shares of the company may witness a poor listing due to weak grey market premium and volatile market conditions.</li></ul>Marquee investor Rakesh Jhunjhunwala-backed Metro Brands, which is one of the largest Indian footwear specialty retailers in India, is set to get listed on exchanges today, December 22. Shares of the company may open at a discounted price as indicated by weak grey market price and volatile market conditions. The Rakesh Jhunjhunwala-backed company received a moderate interest from investors as it was subscribed just 3.64 times. “We are seeing a change in IPO [initial public offering] sentiment amid a slight decline in the market, and the last two debutants witnessed profit bookings post-listing, as well we are seeing a decline in the GMP [grey market price] for upcoming IPOs. We may see a discount listing of Metro Brands given that its GMP trades at a discount of 10-15% currently,” said Aayush Agrawal, senior analyst at Swastika Investmart. Analysts at Angel One also expect a weak listing for Metro Brand’s stock, but they hold a positive stance for the long term investment. “On the listing day, we are expecting a slightly weak listing due to the company already commanding higher valuation and fear of [the] new COVID variant omicron (will increase the possibility of lockdown). However, we are positive on stock for the long term on the back of asset light business, strong brands and wide range of products,” said Amarjeet Maurya, assistant vice president – mid caps at Angel One. Also, the company’s financial performance in FY21 was not very great due to COVID-19 restrictions in the country that affected the entire footwear retailing segment. Its revenue from operations declined by 37.75% in FY21. In the meantime, it permanently closed 24 stores, due to significant decline in footfalls on account of COVID-19. <div type="image" title="metro brand rev" height="900" width="1200" msid="88411590" hostid="261"></div> While the fundamentals of the company remain good with close-to-zero debt in its books and generation of profits, the new COVID-19 variant may adversely affect its plan to grow its store sales in the near term. As of March 31, 2021, Metro Brands operates 586 Stores in 134 cities across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a>

Metro Brands’ IPO may open on a weak note today, GMP at 10-15% discount

<ul><li>Footwear retailer <keyword id="11914799" type="General" weightage="20" keywordseo="metro-brands-ipo" source="Orion">Metro Brands IPO</keyword> has opened today with a price band of ₹485-₹500 per share.</li><li>Shares of the company are demanding a premium of ₹20 in the grey market today, indicating tepid listing gains.</li><li>While the company’s profits were severely impacted in FY21 due to covid restrictions, the company is planning to open 260 stores in the next three years.</li></ul>Marquee investor Rakesh Jhunjhunwala-backed <keyword id="9095636" type="General" weightage="20" keywordseo="metro-brands" source="Orion">Metro Brands</keyword>, which is one of the largest Indian footwear specialty retailers in India, has opened its initial public offering (IPO) today, December 10. Started in 1955 as a footwear specialty retailer in India, Metro Brands now caters to footwear needs of men, women, unisex and kids. The company was performing well until COVID-19 hit the entire footwear retailing segment because of the pandemic led restrictions across the country. <div type="image" title="metro brand rev" height="900" width="1200" msid="88204287" hostid="261"></div> “COVID-19 was a freight truck that hit all the retailers and I think Metro Brands has financial discipline and operational rigour and we’re among the few retailers that did two things. One is to maintain a positive impact (on financials). And of course, we did not see any gross margin erosion,” said Nissan Joseph, chief executive officer at Metro Brands in an interview with Business Insider. Its revenue from operations declined by 37.75% in FY21. In the meantime, it permanently closed 24 stores, due to significant decline in footfalls on account of COVID-19. While the fundamentals of the company remain good with close-to-zero debt in its books and generation of profits, the new COVID-19 variant may adversely affect its plan to grow its store sales in the near term. “A continued decline or fluctuation in footfalls, particularly as a result of the second and any subsequent waves in India, may also affect our ability to effectively manage our inventory of products. Further, stores located in containment zones, as demarcated by the government of India from time to time, may have further restrictions imposed on their operations,” the company mentioned in the DRHP. While sales through physical stores play a significant role in overall revenues, the footwear retailer has also made some move in the online channels. On a standalone basis, online sales contribute only 6% to the company’s revenues in FY21. <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;">FY21 </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;">% of revenue </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;">In-store Product Sales </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;">91.93% </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;">Online Product Sales </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.15% </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;">Omni-channel Product Sales </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;">1.09% </td></tr></tbody></table> However, the total online product sales have grown at a compound annual growth rate (CAGR) of 72.95% from ₹ 19 crore in FY19 to ₹57 crore in FY21. As of March 31, 2021, Metro Brands operates 586 Stores in 134 cities across 29 states and union territories in India. Some of Metro’s brands include Mochi, Walkway, Davinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop. <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;">Fiscal </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;">Numbers of stores at the end of the period </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;">FY19 </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;">504 </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;">FY20 </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;">551 </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;">FY21 </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;">586 </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;">Target to add in the next three years </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;">260 </td></tr></tbody></table> “We have built a team with our area mapped out entire [throughout] India and when we see the possibility of expansion we have targeted to open 260 stores [and] are confident that we'll be able to open that many stores,” said Joseph. On the bright side, Metro Brands had the highest average selling price (ASP) or realisation per unit from fiscal 2019 to fiscal 2021 among its peers such as Bata India Ltd, Khadim India Ltd, Liberty Shoes Ltd and Relaxo Footwear Ltd in the industry. <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;">Players </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;">Average selling price as of FY21 </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;">Bata 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;">₹534 </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;">Khadim 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;">₹519 </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;">Liberty Shoes </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;">₹380-400 </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;">Relaxo Footwear </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;">₹124 </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;">Metro Brands </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;">₹1328 </td></tr></tbody></table> The company intends to raise ₹1,367 crore with fresh issue of ₹295 crore and an offer for sale of 2.14 crore shares by promoters. Majority of the IPO proceeds will be used to open new stores under brands such as Metro, Mochi, Walkway and Crocs. Analysts at Angel One believe that the company is demanding an expensive valuation. “The company’s historical net profit growth is low compared to its peer Relaxo Footwears. However, Metro Brands has asset light business, strong brands and wide range of products but we believe that these positives are captured in the valuations commanded by the company. Thus, we have a NEUTRAL rating on the issue,” said the brokerage firm. 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Metro Brands is aggressively planning on opening new stores despite COVID-19’s impact on its profits

<ul><li><keyword id="6355975" type="General" weightage="20" keywordseo="axis-bank" source="Orion">Axis Bank</keyword> has reportedly pulled far ahead in the race to acquire <keyword id="6404166" type="General" weightage="20" keywordseo="citi-bank" source="Orion">Citi Bank</keyword>’s retail assets.</li><li>The acquisition includes the lucrative customer base of 2.58 million credit card holders, who spend nearly a third more than the industry on average.</li><li>From raw numbers to synergy gains and more, here’s everything that Axis Bank will gain if it wins the bid to acquire Citi Bank’s retail assets.</li></ul>Axis Bank could be the leading horse in the race to acquire Citi Bank’s retail assets, and the biggest gain for India’s third largest private bank would undoubtedly be the 2.6 million high-end credit card customers. Earlier, both Axis Bank and Kotak Mahindra Bank were said to be in a neck-to-neck race to acquire Citi Bank’s retail assets. However, new <a href="https://www.cnbctv18.com/finance/axis-bank-likely-to-bag-citis-india-retail-business-11875782.htm">reports</a> suggest that Axis Bank has raced ahead with an offer worth $2 billion (approx. ₹15,200 crore) in cash and incentives. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">In numbers </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Branches </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employees </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,000 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit card holders </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.58 million </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail customers </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5 million </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loan accounts </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2 million </td></tr></tbody></table> Source: Edelweiss Research, CLSA “Citi Bank has a rich clientele across the credit card and wealth management segments, so it is understandable that the acquisition is at a premium. Axis Bank will have to manage the synergy gains well enough for this acquisition to prove useful,” Kranthi Bathini, Director, Equity Strategy at WealthMills Securities, told Business Insider. Essentially, the question whether the price is fair will be answered once we know what more Axis is able to sell to Citi’s customers. Analysts at Edelweiss Research also echoed this point of view. But there is still a lot for Axis Bank to gain from buying out Citi’s India operations. These are explained in three charts below. <cmsannotation type="cmsannotation" annotationid="Where does Axis Bank stand in the credit card industry?" comment="subhead" text="Where does Axis Bank stand in the credit card industry?">Where does Axis Bank stand in the credit card industry?</cmsannotation> Axis Bank is the fourth largest player when it comes to credit cards, standing behind HDFC Bank, SBI and ICICI Bank. <div type="image" title="Credit Card market share October 2021." msid="88407828" hostid="261" caption="&amp;lt;p&amp;gt;Credit Card market share&amp;lt;/p&amp;gt;"></div> Citi Bank comes in at the sixth place with a market share of just under 4%. However, it’s not only the credit card numbers that matter in this case, it’s also the value of transactions that each card issuer processes. <div type="image" title="Credit Card spends market share October 2021." msid="88407873" hostid="261" caption="&amp;lt;p&amp;gt;Credit Card spends&amp;lt;/p&amp;gt;"></div> While Axis Bank has three times the number of card holders that Citi does, the value of transactions it processes is only a little over two times higher. Post the acquisition, Axis would be in a neck-to-neck fight with ICICI Bank to become the third-largest card issuer, while in terms of credit card spends, it would account for nearly 13% of the total. <cmsannotation type="cmsannotation" annotationid="What exactly does Citi Bank bring to the table?" comment="subhead" text="What exactly does Citi Bank bring to the table?">What exactly does Citi Bank bring to the table?</cmsannotation> According to a report by Edelweiss Research, Citi Bank’s credit card holders spend 30% more when compared to the industry average. <div type="image" title="Credit card spends per user Axis Bank, Citi Bank, Industry." msid="88407912" hostid="261" caption="&amp;lt;p&amp;gt;Average credit card spends&amp;lt;/p&amp;gt;"></div> Citi Bank’s credit card holders spend twice as much as Axis Bank’s – an equation that would have contributed considerably to Axis paying a premium to acquire Citi India’s retail assets. Post-acquisition, Axis Bank would see its average credit card spends per user increase by nearly 23%, which could prove to be a significant boost for the company. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a> <a href="https://www.businessinsider.in/business/telecom/news/we-finally-know-why-the-vodafone-idea-stock-rallied-over-50-in-the-last-one-month/articleshow/88311430.cms">We finally know why the Vodafone Idea stock rallied over 50% in the last one month</a> <a href="https://www.businessinsider.in/stock-market/markets/an-algo-trading-starter-kit-for-those-who-would-like-to-learn/articleshow/88304203.cms">An algo trading starter kit for those who would like to learn</a>

Here’s why Axis Bank may be willing to pay $2 billion to buy Citi’s India ops

2015 has been an eventful year for <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> biggies. They’ve made billions (as VC investment), they’ve lost Crores (in discount wars), and they’ve hired big. Debated GMVs and tax disputes aside, Indian <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-commerce</keyword> companies could call it a day (or year?). 
 
As 2016 rolls in, the cash only seems greener on the other side with more money, innovation and definitely more bling coming their way. 
I chatted up with <a href="http://www.businessinsider.in/searchresult.cms?query=Mausam+Bhatt">Mausam Bhatt</a>, <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>’s Head for Growth (Sales, Online Marketing and Alliances) and Senior Director, Mobile Commerce and Online Marketing to take a sneak peek into what the coming year might mean for this <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> giant. 
 
· You’ve said browsers are slow and the experience couldn’t be personalized. However, Flipkart Lite was released on the mobile web instead of the app. Why? 
Even 6 months ago this was not feasibility. That’s because we’ve changed the paradigm completely. We’re very much on the cutting edge of what a light weight mobile site would look like. We worked closely together with the guys from<a href="http://www.businessinsider.in/searchresult.cms?query=+Google"> Google</a> to figure out a way to offer a native experience on a browser. Let’s see how far we can tread. 
 
· When you did launch the mobile website again, why not offer a full fledged website them? 
This is a fully fledged mobile site in the sense that everything that could have been bought earlier on our site could be bought now. It will just get better in time with notifications and personalization. Load times are also so much lesser. 
 
· Flipkart Lite comes on Opera and Google Chrome. Any plans to extend it to other browsers? 
Our team is working to standardize the interface. In the next couple of quarters we could have this across all browsers. 
 
· What are you focus areas in 2016? 
Our primary focus is to ensure the app remains light on the system. It shouldn’t bloat with the added functionalities. We are also looking to leverage the fundamental features that a mobile device offers. Search is a major focus area. Last but not the least are ratings and reviews. We can leverage gestures for reviews, enable Vine videos, audio bytes and so on. Social and location proof could also be added. 
 
· Flipkart recently picked up over 34% stake in digital mapping firm MapmyIndia. What are you planning to do with that? 
Location and logistics are a big problem in India. We’re working closely to solve issues like longer delivery times, repeat deliveries and unnecessary phone conversations. 
 
· Where are you pouring most of your marketing budget as 2016 rolls in? 
Increasingly we’re committed digital and online more and more. The people we are trying to attract are online anyway. If you look at the hierarchy of online needs, it starts out with <a href="http://www.businessinsider.in/searchresult.cms?query=online+messaging">online messaging</a>, photo sharing, content, and then <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a>. The opportunities for us are online, and get them to shopping. It’s a matter of being closer to where the users are, and it is online. 
 
Few years ago mass media was more important because as a country we were running campaign posts to advertise the benefits of online shopping. Now awareness levels around <a href="http://www.businessinsider.in/searchresult.cms?query=e-commerce">e-commerce</a> are fairly high. 
 
· Flipkart bled close to Rs 2,000 Crores in the year ending March. Most of that was in discounting war. Do think you guys overdid it a bit? 
Over a period of time product differentiation will become more important than the prices. Companies will then differentiate on overall end-to-end customer experience and trust. 
 
· There has been a firm push to encourage prepaid payment. How is it picking up? 
Cash on Delivery continues to be important in the country. Wallet and credit card adoption are rising for repeat consumers. As brand loyalty kicks in, people seem OK with saving money in a wallet. 
 
· Flipkart has introduced native advertising for companies to engage better with customers on its mobile platform. Tell me more about this. 
We have collected a lot of consumer-based data over the last 8 years. This can be great for brands to leverage. This can drive a lot of traffic for intent-based purchases to brands. 
 
· What’s Flipkart’s primary focus for the app in the coming year? 
A lot of effort will go into making the experience more personalized. That will make sure it is a one-of-a-kind experience. 
 
· You are hiring big this placement season. What are your plans with the fresh talent you’re getting? 
Seeing companies express appetite for more engineering talent is really heart-warming. We are planning to build our own data platform. It is a high priority for us now. Once more engineering talent comes in we’re also planning to do more on Engineering and Vision. We’ll balance expertise in these areas with raw talent from the universities. 
 
All I can say is exciting times are ahead! 
 
Image credit: Indiatimes

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