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<ul><li>The IPO bonanza continues with more companies lining up — <keyword id="6393944" type="ORGANIZATION" weightage="20" keywordseo="mazagon-dock-shipbuilders">Mazagon Dock Shipbuilders</keyword>, UTI Asset Management and <keyword id="9987008" type="UNKNOWN" weightage="20" keywordseo="Likhitha-Infrastructure">Likhitha Infrastructure</keyword> are now open for investors subscription. </li><li>Here’s everything you need to know about Mazagon Dock Shipbuilders, UTI Asset Management, and Likhitha Infrastructure IPOs.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a> </li></ul>The IPOs for Mazagon Dock Shipbuilders, UTI Asset Management, and Likhitha Infrastructure Limited are now open for subscription. These IPOs are coming at a time when the markets are flush with liquidity, and the preceding issues like Happiest Minds Tech, Route Mobile, CAMS have been oversubscribed at record levels. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO Pipeline </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens On </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes On </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mazagon Dock Shipbuilders </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 29 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October 1 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UTI Asset Management </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 29 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October 1 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Likhitha Infrastructure Limited </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 29 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">October 1 </td></tr></tbody></table> Although the grey market premium of all these upcoming IPOs may have taken a hit due to the recent market weakness. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upcoming IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grey Market Premium (per share) </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UTI Asset Management </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹55-60 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Likhitha Infrastructure Limited </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5-₹10 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mazagon Dock Shipbuilders </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 125-130 </td></tr></tbody></table>*As of Sept 29. Here’s everything you need to know about these IPOs: UTI Asset Management ₹2,160 crore IPO Mutual fund manager UTI Asset Management Company (AMC) ₹2,160 crore IPO will open for public subscription today. The company has fixed a price band of ₹552-554 per share for its IPO that will close on October 1. The company said the bidding for anchor investors would open on September 28. Ahead of the IPO, UTI AMC garnered over ₹644.64 crore from several anchor investors including Morgan Stanley, Invesco Trustee, Avendus, Tara Emerging Asia Liquid Fund, Goldman Sachs, Nomura Singapore, HSBC, Kotak Funds, PGIM India among others to name a few. The UTI Asset Management Company will compete against its likes — Nippon Life India Asset Management and HDFC AMC on the stock exchanges. The shares of the UTI AMC will list on both the stock exchanges, BSE and NSE. The 17-year old company has some marquee names in its shareholder’s list, such as— SBI, LIC, Punjab National Bank, Bank of Baroda, and the US-based T Rowe Price. Mazagon Dock Shipbuilders ₹444 crore IPO The state-owned defence firm Mazagon Dock Shipbuilders ₹444 crore initial public offering will open for bidding on September 29. The company has set the price band for the at ₹135-145 per share. The issue will close for subscription on October 1. Mazagon Dock Shipbuilders is engaged in the construction and repair of warships and submarines for use by the Indian Navy and other vessels for commercial clients. Likhitha Infrastructure Limited ₹61.2 crore IPO A Hyderabad-headquartered oil and gas pipeline infrastructure service provider Likhitha Infrastructure ₹61.2 crore IPO will hit the primary market on September 29. The company has set the price band for IPO at ₹117-120, and the public offer will remain open until October 1. The company has a strong client base such as ONGC, HCG, Indian Oil, GAIL, among others, to name a few. The minimum bid for the IPO has been set at a lot of 125 shares or in multiples thereof. The company has a strong financial record with its revenue growing at a compound annual growth rate of 22% and the profit at 41% during FY18-FY20. Likhitha Infrastructure Limited order book as of July was approximately ₹950 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/uti-amcs-2160-crore-ipo-opens-today-heres-all-you-need-to-know/articleshow/78376756.cms" data-type="tilCustomLink">UTI AMC’s ₹2,160 crore IPO opens today — Here’s all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-cams-ipo-share-allotment-status/articleshow/78311094.cms" data-type="tilCustomLink">CAMS IPO allotment: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/stock-market/news/heres-how-to-check-chemcon-speciality-chemicals-ipo-share-allotment-status-online/articleshow/78328884.cms" data-type="tilCustomLink">Chemcon IPO allotment: Here’s how to check share allotment status</a>

Mazagon Dock, UTI AMC and Likhitha Infrastructure IPOs open today

<ul class="summary-list"><li>Regulators' harsh response to <keyword id="6383278" type="PERSON" weightage="60" keywordseo="didi">Didi</keyword>'s <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> has forced the 20 or so Chinese companies that had plans to go public in <keyword id="6355838" type="LOCATION" weightage="60" keywordseo="new-york">New York</keyword> to re-evaluate, according to <a href="https://www.ft.com/content/90620c2c-ea07-4425-9a18-f3b4587ed3ad" target="_blank" rel="noopener">a Financial Times report</a>.</li><li>34 Chinese firms raised $12.4 billion in New York capital <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> in the first half of this year, according to Dealogic data.</li><li>Data-oriented companies have been most eager to plan for <keyword id="24349" type="COMPANY" weightage="60" keywordseo="Hong-Kong">Hong Kong</keyword> listings, in large part because the mainland government's crackdown has centered around data privacy.</li></ul>Investment banks are scrambling to divert Chinese IPOs away from the US market and into Hong Kong as the government's crackdown on foreign listings spreads, according to a <a href="https://www.ft.com/content/90620c2c-ea07-4425-9a18-f3b4587ed3ad" target="_blank" rel="noopener">Financial Times report</a>.Regulators' harsh response to China's last major foreign IPO, that of <a href="https://markets.businessinsider.com/stocks/didi-stock">Didi Chuxing</a>, has forced the 20 or so Chinese companies that had plans to go public in New York to re-evaluate. Bankers who spoke with the FT said clients are exploring moving listings to Hong Kong but are also wary of the hurdles. Hong Kong-specific regulatory requirements and the inherent uncertainty of going first were among the leading concerns."We're speaking to everyone about it," one Hong Kong-based investment banker told the FT. "If you want to do a deal this year, at best you'll be delayed until 2022 and at worst you won't be able to do it."The move toward Hong Kong is an abrupt shift for corporate China. 34 Chinese firms raised $12.4 billion in New York capital markets in the first half of this year, according to Dealogic data previously <a href="https://www.ft.com/content/d0873b18-01ea-44d3-ac5c-755e0e50d2e3">reported by the FT</a>.In the wake of Didi's NYSE debut, China's <keyword id="6361948" type="UNKNOWN" weightage="60" keywordseo="cybersecurity">cybersecurity</keyword> ministry alleged the company had violated privacy laws and launched an investigation into its data practices. The action <a href="https://markets.businessinsider.com/news/stocks/didi-stock-price-china-launches-cybersecurity-review-us-ipo-ride-alibaba-2021-7">took Didi's stock price down sharply</a> the day of the announcement.Data-oriented companies have been most eager to plan for Hong Kong listings, in large part because the mainland government's crackdown has centered around data privacy. Moving to Hong Kong could abate some of that scrutiny, two bankers told the FT.

Banks are reportedly scrambling to move IPOs of Chinese companies from New York to Hong Kong after regulators cracked down on overseas listings

<ul><li>The <keyword id="3342573" type="PERSON" weightage="60" keywordseo="Nasdaq-exchange">Nasdaq exchange</keyword> overtook the <keyword id="115417" type="CITY" weightage="60" keywordseo="New-York-Stock-Exchange">New York Stock Exchange</keyword> in year-to-date <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> fundraising last week after colossal debuts from <a href="https://markets.businessinsider.com/stocks/wmg-stock">Warner Music Group</a> and <a href="https://markets.businessinsider.com/stocks/zi-stock">ZoomInfo</a>.</li><li>Companies have raised roughly $12.2 billion with Nasdaq IPOs in the year-to-date, <a href="https://www.wsj.com/articles/nasdaq-overtakes-nyse-in-coronavirus-era-ipos-11591608600">The Wall Street Journal</a> reported Monday, besting NYSE's $10.9 billion in 2020 deals.</li><li>The Nasdaq also has the upper-hand in total deals completed, hosting 44 IPOs to its peer's 27.</li><li>IPO activity sharply declined in the first quarter as the coronavirus pandemic and heightened market volatility led firms to seek out other fundraising methods. </li><li>IPO activity has since rebounded as <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> turn higher and traders grow more optimistic toward economic recovery.</li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurlutm_campaign=bodyurl">Visit the Business Insider homepage for more stories</a>.</li></ul>Massive trading debuts for <a href="https://markets.businessinsider.com/stocks/wmg-stock">Warner Music Group</a> and <a href="https://markets.businessinsider.com/stocks/zi-stock">ZoomInfo</a> led the Nasdaq exchange to overtake the New York Stock Exchange in year-to-date <keyword id="136443" type="PERSON" weightage="60" keywordseo="initial-public-offerings">initial public offerings</keyword>.Newly public firms have raised $12.2 billion in Nasdaq-hosted IPOs in 2020, compared to $10.9 billion at the exchange's lower-Manhattan peer, <a href="https://www.wsj.com/articles/nasdaq-overtakes-nyse-in-coronavirus-era-ipos-11591608600">The Wall Street Journal</a> reported, citing data from Dealogic. The first week of June yielded a tremendous overtake for the Nasdaq exchange, as Warner Music Group raised more than $1.9 million in the biggest IPO of the year so far.Overall IPO activity plummeted from its 2019 frenzy as the coronavirus pandemic and recession risks push firms to raise capital elsewhere. Public debuts reached a standstill in late March as markets bottomed and resumed through May as investors revived risk-on attitudes.The Nasdaq exchange is leading on total deals completed as well, hosting 44 debuts to NYSE's 27. The latter exchange has hosted only one IPO in June, while the Nasdaq exchange featured Warner Music Group's along with seven others. ZoomInfo's June 4 Nasdaq offering took in more than $900 million, making it the seventh-largest IPO of 2020.Read more: <a href="https://www.businessinsider.com/stock-market-crash-new-bull-run-historical-checklist-not-met-2020-6">Stocks have met none of the 8 conditions that confirmed every new bull market in the post-war era — and one investment chief warns a relapse into a bear market is coming</a>The NYSE was also forced to withdraw one of its key draws for companies eyeing an IPO. The closing of its iconic floor kept companies from ringing the trading bell to celebrate their debuts. While virtual ceremonies served as a temporary replacement over the monthslong closure, firms weren't able to enjoy the fanfare and exposure tied to ringing the market's opening bell.The Nasdaq exchange's new lead, while vulnerable, suggests it could repeat its victory over the NYSE after taking the crown last year. The win <a href="https://markets.businessinsider.com/news/stocks/nasdaq-beat-new-york-stock-exchange-ipo-funds-raised-facebook-2019-12-1028755390">was Nasdaq's first</a> since it botched Facebook's trading debut in 2012.The NYSE will also need to sway firms on its lofty fees should it look to retake its throne. Companies listed on the Nasdaq exchange pay a fee as high as $159,000 annually depending on how many shares they issued. The same fees at the NYSE can land as high as $500,000 per year, according to The Journal.The race is still far from over. The NYSE is slated to host grocery chain Albertsons for its trading debut. The Nasdaq exchange is also set to bring the heat, with IPOs from Vroom and Lantern Pharma scheduled for June 11.Now read more markets coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/jobs-report-unemployment-economy-bounce-stock-market-record-ed-yardeni-2020-6-1029288925">May's surprising jobs report sets stage for V-shaped recovery and fresh market highs, Wall Street bull Ed Yardeni says</a><a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-risks-coronavirus-selling-shape-rally-expert-economy-2020-6-1029286759">A top market expert details how 6 factors that fueled the coronavirus crash will shape the stock market's recovery</a><a href="https://www.businessinsider.com/stock-picks-to-buy-11-companies-3-month-outperformance-ms-2020-6">MORGAN STANLEY: Buy these 11 stocks right now to reap the strongest possible market-beating returns over the next 3 months</a>

Nasdaq surpasses NYSE in IPO activity after triumphant start to June

<ul><li><keyword id="719382" type="COMPANY" weightage="60" keywordseo="Airbnb">Airbnb</keyword> is set to make its public-market debut this week, aiming for a valuation of between $26.4 billion and $29.8 billion. It is a reasonably valued IPO, according to <keyword id="3498946" type="PERSON" weightage="60" keywordseo="david-trainer">David Trainer</keyword>, <keyword id="10394940" type="UNKNOWN" weightage="60" keywordseo="new-constructs">New Constructs</keyword> founder and CEO.</li><li>"Unlike other recent IPOs, and several stocks where valuations are sky-high, Airbnb has a plausible path to profitability," said Trainer in a recent note.</li><li>Trainer added however that investors should be cautious of risks to the company, including Airbnb's exposure to state and local regulations that would restrict the business of home sharing. </li><li><a href="https://www.businessinsider.com/international?r=US&amp;IR=T?utm_source=markets&amp;utm_medium=ingestm=ingest">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://markets.businessinsider.com/news/stocks/airbnb-plans-higher-ipo-price-range-42-billion-valuation-2020-12-1029868444">Airbnb is set to go public this week</a>, with shares scheduled to begin trading on Thursday. The home-sharing company is aiming for a price range of $44-$55 apiece, which would value it between $26.4 billion to $29.8 billion. David Trainer, New Constructs founder and CEO, says the IPO is reasonably valued."Unlike other recent IPOs, and several stocks where valuations are sky-high, Airbnb has a plausible path to profitability," wrote Trainer in a recent note. The equities analyst said that if Airbnb maintains its revenue growth similar to what is saw before the pandemic, while lowering its marketing expenses, it will be valued at around $28 billion, the midpoint of its IPO price range.If the firm doubles down on cost efficiency, while sacrificing revenue growth, and were to achieve profitability on par with Booking Holdings, one of the most profitable travel firms, Airbnb could be worth $58.7 billion, he added. Trainer highlighted that Airbnb has the largest platform for room listings of many of its competitors, and it benefits from its scale. The more listings there are on the platform, the more consumers will look to Airbnb, which in turn will drive more property owners to host on the platform to reach the largest audience.Read more: <a href="https://www.businessinsider.com/stocks-to-buy-2021-top-dividend-payers-sp500-goldman-sachs-2020-12" target="_blank" rel="noopener">Goldman Sachs says buy these 25 stocks it expects to pay big dividends that will keep growing over the next decade</a>"With each new listing, it becomes easier, and theoretically cheaper, to attract users, and vice versa," said Trainer.He added that the company may further benefit from consumers who prefer staying in short-term rentals over hotels out of concern over the spread of the coronavirus.Airbnb is susceptible to local, state, and country regulations on the business of providing homes for short-term stays. Airbnb noted in its IPO filings that upcoming regulations in New York (2% of its revenue in 2019) could hurt revenue if hosts begin to leave Airbnb because they don't want to comply with new regulations, the analyst said.Trainer also said investors should be cautious of Airbnb's financials, as neither management nor auditors have performed an evaluation of the firm's internal control over financial reporting. Lastly, Trainer is suspicious that insiders may be trying to "dump shares" on retail investors. He said that "early investors and employees have been applying pressure on Airbnb's CEO to go public this year, as they're set to lose their stock options next year," pointing to a <a href="https://www.wsj.com/articles/airbnbs-ipo-everything-you-need-to-know-11605726885">report in the Wall Street Journal</a>.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-13-high-conviction-global-consumer-recovery-2020-12" target="_blank" rel="noopener">Morgan Stanley's consumer analysts share 13 high-conviction global stocks to buy to capitalize on the continuing economic recovery</a>

Airbnb's IPO is reasonably valued but still has 3 risks investors should watch for, equities analyst says

<ul><li><keyword id="9903157" type="UNKNOWN" weightage="20" keywordseo="route-mobile-600-crore-ipo">Route Mobile ₹600 crore IPO</keyword> opens tomorrow. </li><li>In an exclusive chat with Business Insider, Non-Executive Director Sandip Gupta and the Chief Strategy Officer Gautam Badalia revealed details about the company’s growth prospects, roadmap, and opportunities.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>COVID-19 brought about a pause in the primary market, but the action is heating up again now. And the next one in line is <keyword id="3519758" type="PERSON" weightage="20" keywordseo="route-mobile">Route Mobile</keyword>, the company behind your banking OTPs to Uber messages and automated calls. Route Mobile’s IPO opens tomorrow. The company is looking to raise ₹600 crore, which it plans to use for business expansion. This is going to be the second IPO this month. Here are the <keyword id="9903155" type="UNKNOWN" weightage="20" keywordseo="route-mobile-ipo-details">Route Mobile IPO details</keyword>: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Specifics </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opening date </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 9 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closing date </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">September 11 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO target </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹600 crore </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price Band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹345-350 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 40 equity shares </td></tr></tbody></table> Founded in 2004, this Mumbai-based cloud communication platform services provider offers digital token services from Whatsapp to Viber and Wechat to automated calls. And now they are in talks with Apple to increase its business footprint in every corner of the world, the company told Business Insider. The Managing Director Rajdip Gupta and Non-Executive Director Sandip Gupta are the promoters of the company. Both the promoters will sell ₹180 crore worth of shares through this IPO. In an exclusive chat with Business Insider, Non-Executive Director Sandip Gupta and the Chief Strategy Officer Gautam Badalia revealed details about the company’s growth prospects and opportunities going forward. These are the edited excerpts from the chat. Can you detail us more about your company? You cater to enterprises, (OTT) and mobile network operators (MNO); what are the big brands or companies that are associated with you? We are an enterprise that provides digital communication channels to the enterprises. Our customer base is from retails, banks to cab operators, and e-commerce. And whichever company wants to communicate with its customers, we provide them with a channel. And this channel can be SMS, voice call; it may email, it may be WhatsApp, it may be Viber, or can be a video. So these are the channels we provide to the enterprises so that they can efficiently communicate with the clients. For example, when you swipe your card, you get a debit alert, so that is done mostly by our SMS channels. Or you are on their OTT platform, and you need an OTP to download the content. So that OTP goes from our channel. We also provide a second layer in that. That is a voice channel when the client opts for an OTP via voice. How are you planning to use the IPO money? So we are looking at expanding both vertically and horizontally. Either entering into new geographies or consolidating into the existing one. We are also looking at expanding our product line. How has been the lockdown period for the company? So when you say lockdown, it has propelled our business more, as a lot of digital transactions happened during the period. So lockdown has given more value addition to our portfolio. So the overall lockdown period was better for us. Even our revenue growth was much better compared to the same quarter last year. <div type="image" title="RouteMobile" msid="77996794" hostid="261"></div> You have subsidiaries globally. What percent of your operation's revenue comes from foreign, and how much of it is from Indian companies? So in terms of revenue, 20% of our billing comes in Indian currency. The rest of the billing is in foreign currency. A large part of which is in USD and Euro. Total India revenue will be somewhere around 40% export and domestic business. Rest of which is outside India in foreign places like the UAE, UK, Malta, and Nigeria. <div type="image" title="Reserves RouteMobile" msid="77996834" hostid="261"></div> Are there any directly listed peers for competition? And if there are, what makes you stand out compared to them? So we are a global player. When it comes to the competition, we compete globally with companies like Infobip and others. In India, wherever we go, we have local competitors. In India, we have competition from Gupshup and few others. As people mostly stayed home during the lockdown, and that led to the growth in your business, what are the forward-looking business strategies that you have in mind to keep the momentum going? During the COVID-19 (lockdown), digital transactions have grown. And at the same time, many businesses were shut too, like hospitality and tourism businesses. Now when the economy is opening up, digital transactions will be much more needed. So with more transactions, it will add more value to the business. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/happiest-minds-technologies-ipo-opens-today-grey-market-offering-over-60-premium/articleshow/77970729.cms" data-type="tilCustomLink">Happiest Minds Technologies IPO opens today — grey market offering over 60% premium</a> <a href="https://www.businessinsider.in/business/corporates/news/ashok-soota-backed-happiest-minds-techs-702-crore-ipo-what-works-for-it-and-what-doesnt/articleshow/77909427.cms" data-type="tilCustomLink">Former Wipro and Mindtree exec’s firm Happiest Minds Tech’s ₹702 crore IPO⁠ — what works for it and what doesn’t</a>

INTERVIEW: Route Mobile, the firm behind your OTPs, promoter reveals plan to tap the Apple ecosystem⁠

<ul><li>2021 was a record year for IPOs, with 2,388 new companies listing their shares around the globe.</li><li>The red-hot <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo" source="Orion">IPO</keyword> market this year occurred amid a relentless grind higher in the broader <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>.</li><li>But some IPOs didn't participate in the gains. These are the 10 worst performing IPOs of 2021.</li></ul><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-sp500-63rd-record-close-tech-stocks-2021-11">Record highs in the stock market</a> have facilitated a boom in new company listings this year, with a record 2,388 firms going public around the globe, according to <a href="https://www.ey.com/en_gl/ipo/trends">data from Ernst and Young.</a>Helping drive a resurgence in new company listings were SPACs, which peaked in early 2021 after a surge last year. Altogether, companies have raised $453 billion in proceeds from their IPOs, representing a 67% increase relative to 2020 and a more than doubling from 2019 levels.Firms going public have predominately been in the technology sector, and the Nasdaq Exchange captured the most IPOs relative to other global stock exchanges. <a href="https://markets.businessinsider.com/news/stocks/rivian-stock-price-ipo-debut-valuation-100-billion-ford-gm-2021-11">High profile IPOs</a> this year include electric vehicle startups <a href="https://markets.businessinsider.com/stocks/rivn-stock">Rivian</a> and <a href="https://markets.businessinsider.com/stocks/lcid-stock">Lucid Group</a>, and direct-to-consumer brands <a href="https://markets.businessinsider.com/stocks/bird-stock">Allbirds</a> and <a href="https://markets.businessinsider.com/stocks/wrby-stock">Warby Parker.</a>With more than 900 IPOs this year on US exchanges alone, there have been plenty of big losers. These are the 10 worst performing US IPOs of 2021 of companies with at least a $1 billion market capitalization. All performance data is as of December 16 and was sourced from <a href="https://koyfin.com">Koyfin.</a> (However, the chart action shown below reflects performance based on the opening price of a stock on its first day of trades, not its IPO price.)10. PoshmarkTicker: <a href="https://markets.businessinsider.com/stocks/posh-stock">POSH</a> Loss Since IPO Price: -57% Market Capitalization: $1.4 billion<div type="image" title="Poshmark chart" height="497" width="631" msid="88326787" hostid="261"></div>9. Blend LabsTicker: <a href="https://markets.businessinsider.com/stocks/blnd-stock">BLND</a> Loss Since IPO Price: -60% Market Capitalization: $1.7 billion<div type="image" title="Blend stock chart" height="497" width="623" msid="88326791" hostid="261"></div>8. InnovAge HoldingTicker: <a href="https://markets.businessinsider.com/stocks/innv-stock">INNV</a> Loss Since IPO Price: -61% Market Capitalization: $1.1 billion<div type="image" title="INNV stock chart" height="519" width="630" msid="88326794" hostid="261"></div>7. RiskifiedTicker: <a href="https://markets.businessinsider.com/stocks/rskd-stock">RSKD</a> Loss Since IPO Price: -63% Market Capitalization: $1.3 billion<div type="image" title="RSKD stock chart" height="496" width="626" msid="88326797" hostid="261"></div>6. Missfresh LimitedTicker: <a href="https://markets.businessinsider.com/stocks/mf-stock">MF</a> Loss Since IPO Price: -65% Market Capitalization: $1.1 billion<div type="image" title="MF Chart" height="536" width="629" msid="88326800" hostid="261"></div>5. loanDepotTicker: <a href="https://markets.businessinsider.com/stocks/ldi-stock">LDI</a> Loss Since IPO Price: -68% Market Capitalization: $1.4 billion<div type="image" title="loanDepot chart" height="712" width="1082" msid="88326803" hostid="261"></div>4. RLX TechnologyTicker: <a href="https://markets.businessinsider.com/stocks/rlx-stock">RLX</a> Loss Since IPO Price: -69% Market Capitalization: $5.0 billion<div type="image" title="RLX Chart" height="533" width="627" msid="88326804" hostid="261"></div>3. TuyaTicker: <a href="https://markets.businessinsider.com/stocks/tuya-stock">TUYA</a> Loss Since IPO Price: -70% Market Capitalization: $3.5 billion<div type="image" title="Tuya Chart" height="499" width="634" msid="88326806" hostid="261"></div>2. Oscar HealthTicker: <a href="https://markets.businessinsider.com/stocks/oscr-stock">OSCR</a> Loss Since IPO Price: -78% Market Capitalization: $1.8 billion<div type="image" title="OSCR stock chart" height="502" width="628" msid="88326808" hostid="261"></div>1. Bright Health GroupTicker: <a href="https://markets.businessinsider.com/stocks/bhg-stock">BHG</a> Loss Since IPO Price: -79% Market Capitalization: $2.4 billion<div type="image" title="BHG Chart" height="519" width="630" msid="88326809" hostid="261"></div>

These were the 10 worst performing IPOs of 2021 amid a record year for stock market debuts

<ul><li>Dodla Dairy's initial public offering (IPO) will go live on June 19 with a price band of ₹421 to ₹428.</li><li>The Hyderabad-based dairy company is the third largest in India in terms of milk procurement and has a <keyword id="2934343" type="PERSON" weightage="20" keywordseo="Foothold">foothold</keyword> in southern India.</li><li>The firm plans to use its new capital to repay the loans and fund its working capital requirements.</li></ul>India’s third largest dairy company in terms of milk procurement, Dodla Dairy, is ready to go public on June 16. The Hyderabad-based firm has announced its plans to issue an initial public offering (IPO) worth ₹520 crore as it looks to strengthen its footprint in the southern Indian states. This includes a fresh issue of ₹50 crore and offer for sale (OFS) of ₹470 crore. <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;">Important dates </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;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO opening </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;">16 June 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO closing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18 June 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Likely allotment </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;">23 June 2021 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Likely listing </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;">28 June 2021 </td></tr></tbody></table> The company’s shares will be going for ₹421 to ₹428 apiece. Applicants will be able to bid for lots of 35 shares, but an individual can apply for no more than 13 lots. The aspiring dairy firm plans to use ₹32.26 crore to repay the loans it has already taken out and fund its working capital requirements with ₹7.15 crore. Whatever it left over, will be put towards general corporate purposes, which includes hiring new talent, research and development, and digitisation. <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;">IPO details </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;"> </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;">Price band </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;">₹421 to ₹428 </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;">Market lot </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;">35 shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum order value (single lot) </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;">₹14,980 </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;">Maximum order value (13 lots) </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;">₹194,740 </td></tr></tbody></table> Only 15% of the IPO will be available to non-institutional investors, with 35% for retail investors and 50% for qualified institutional buyers (QIBs). <cmsannotation type="cmsannotation" annotationid="What does Dodla Dairy do?" comment="subhead" text="What does Dodla Dairy do?">What does Dodla Dairy do?</cmsannotation> Despite the impact of the COVID-19 pandemic, Dodla Dairy reported a profit of ₹74.78 crore for the six months ending September 2020. The strengthening of the cooperative model of cattle farming has helped Dodla’s growth in the milk processing segment. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/6401724"></div>]]></cdata></div> Dodla Dairy procures nearly 1.03 million litres of raw milk per day — that is enough to fill up half an Olympic sized swimming pool — within a network of over 1 lakh farmers through 6,771 village level collection centres, 232 dairy farms and third party suppliers. It takes this milk and processes it into packaged milk and other value added products like ghee, butter, curd, paneer, gulab jamun and other items that are targeted at home consumption. Once processed, the second leg of the company’s operations include distribution and marketing across Andhra Pradesh, Karnataka, Tamil Nadu, Telangana and Maharashtra. What many may not know is that the company also has operations in the African countries -- Uganda and Kenya. The company doesn’t have any plans to expand, but will be looking to further strengthen its brand in regions where it already exists. According to the company, its main competitors include Hatsun Agro Products, Heritage Foods, Tirumala Milk Products and Creamline Dairy Products. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit as of 31 March 2020 </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;">Dodla Dairy </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;">₹49.87 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hatsun Agro Products </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;">₹1,12.27 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Heritage Foods </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;">(₹169.4 crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Parag Milk Foods </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;">₹93.69 crore </td></tr></tbody></table>

Dodla Dairy's ₹520 crore IPO isn't to expand into new markets but to strengthen its foothold where it already exists

<ul><li>2021 was a record year for IPOs, with 2,388 new companies listing their shares around the globe.</li><li>The red-hot <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo" source="Orion">IPO</keyword> market this year occurred amid a relentless grind higher in the broader <keyword id="11895235" type="UNKNOWN" weightage="60" keywordseo="stock-market" source="Orion">stock market</keyword>.</li><li>These are the 10 best performing US stocks that went public in 2021.</li></ul><a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-sp500-63rd-record-close-tech-stocks-2021-11">Record highs in the stock market</a> have facilitated a boom in new company listings this year, with a record 2,388 firms going public around the globe, according to <a href="https://www.ey.com/en_gl/ipo/trends">data from Ernst and Young.</a>Helping drive a resurgence in new company listings were SPACs, which peaked in early 2021 after a surge last year. Altogether, companies have raised $453 billion in proceeds from their IPOs, representing a 67% increase relative to 2020 and a more than doubling from 2019 levels.Firms going public have predominately been in the technology sector, and the Nasdaq Exchange captured the most IPOs relative to other global stock exchanges. <a href="https://markets.businessinsider.com/news/stocks/rivian-stock-price-ipo-debut-valuation-100-billion-ford-gm-2021-11">High profile IPOs</a> this year include electric vehicle startups <a href="https://markets.businessinsider.com/stocks/rivn-stock">Rivian</a> and <a href="https://markets.businessinsider.com/stocks/lcid-stock">Lucid Group</a>, and direct-to-consumer brands <a href="https://markets.businessinsider.com/stocks/bird-stock">Allbirds</a> and <a href="https://markets.businessinsider.com/stocks/wrby-stock">Warby Parker.</a>And with more than 900 IPOs this year on US exchanges alone, there have been plenty of big winners and losers. These are the 10 best performing US IPOs of 2021 of companies with at least a $1 billion market capitalization. All performance data is as of December 15 and was sourced from <a href="https://koyfin.com">Koyfin.</a> (However, the chart action shown below reflects performance based on the opening price of a stock on its first day of trades, not its IPO price.)10. Prometheus BiosciencesTicker: <a href="https://markets.businessinsider.com/stocks/rxdx-stock">RXDX</a> Gain Since IPO Price: 72% Market Capitalization: $1.3 billion<div type="image" title="Prometheus stock price" height="512" width="630" msid="88306487" hostid="261"></div>9. Verve TherapeuticsTicker: <a href="https://markets.businessinsider.com/stocks/verv-stock">VERV</a> Gain Since IPO Price: 75% Market Capitalization: $1.6 billion<div type="image" title="Verve stock price" height="512" width="622" msid="88306488" hostid="261"></div>8. TaskUsTicker: <a href="https://markets.businessinsider.com/stocks/task-stock">TASK</a> Gain Since IPO Price: 91% Market Capitalization: $4.3 billion<div type="image" title="Taskus stock chart" height="500" width="624" msid="88306489" hostid="261"></div>7. KanzhunTicker: <a href="https://markets.businessinsider.com/stocks/bz-stock">BZ</a> Gain Since IPO Price: 93% Market Capitalization: $14.7 billion<div type="image" title="BZ stock price" height="503" width="627" msid="88306491" hostid="261"></div>6. Dutch BrosTicker: <a href="https://markets.businessinsider.com/stocks/bros-stock">BROS</a> Gain Since IPO Price: 98% Market Capitalization: $7.5 billion<div type="image" title="Dutch Bros stock chart" height="494" width="627" msid="88306493" hostid="261"></div>5. DoximityTicker: <a href="https://markets.businessinsider.com/stocks/docs-stock">DOCS</a> Gain Since IPO Price: 108% Market Capitalization: $10.1 billion<div type="image" title="DOCS stock chart" height="493" width="627" msid="88306494" hostid="261"></div>4. AffirmTicker: <a href="https://markets.businessinsider.com/stocks/afrm-stock">AFRM</a> Gain Since IPO Price: 111% Market Capitalization: $29.0 billion<div type="image" title="Affirm stock chart" height="492" width="627" msid="88306495" hostid="261"></div>3. Global-e OnlineTicker: <a href="https://markets.businessinsider.com/stocks/glbe-stock">GLBE</a> Gain Since IPO Price: 120% Market Capitalization: $8.0 billion<div type="image" title="GLBE stock chart" height="500" width="631" msid="88306497" hostid="261"></div>2. ZIM Integrated Shipping ServicesTicker: <a href="https://markets.businessinsider.com/stocks/zim-stock">ZIM</a> Gain Since IPO Price: 208% Market Capitalization: $5.8 billion<div type="image" title="ZIM stock chart" height="540" width="629" msid="88306498" hostid="261"></div>1. Digital World AcquisitionTicker: <a href="https://markets.businessinsider.com/stocks/dwac-stock">DWAC</a> Gain Since IPO Price: 508% Market Capitalization: $1.9 billion<div type="image" title="DWAC stock chart" height="535" width="626" msid="88306500" hostid="261"></div>

These were the 10 best performing IPOs of 2021 amid a record year for stock market debuts

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Drew Angerer/Getty ImagesThe Beyond Meat IPO at the Nasdaq Marketsite.</div></div></div><ul class="summary-list"><li>This year's IPOs have broken new records, with <a href="https://www.businessinsider.com/category/beyond-meat">Beyond Meat's</a> stock popping 163% pop on the first day of trading. But UBS analyst Jason Draho said in a note Monday that it doesn't mean there's an IPO bubble.</li><li>Instead, Draho thinks there is a hot IPO market, which could cool off organically in midsummer.</li><li>Once companies start reporting their second and third quarter earnings, Draho said, prices will adjust to reflect their true values.</li><li>Plus, he added, there's may not be a steady enough stream of IPO-ready multi-billion-dollar companies in the lineup to cause the hot market to bubble over.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Read more on the Business Insider homepage.</a></li></ul>Investors who bought <a href="https://www.businessinsider.com/category/beyond-meat">Beyond Meat</a> stock during its public offering in early May saw a 163% pop on the first day, setting a new record and a celebratory tone for a busy IPO season which has seen half a dozen high-value companies enter the public markets.While new heights may indicate that things can only go downhill from there, UBS analyst Jason Draho thinks it's too early to call the IPO market a bubble, Draho wrote in a note published Monday."Triple-digit returns beg the question of whether another IPO bubble is forming. It's fair to say that the IPO market is getting warmer just based on the returns," Draho said. "These returns suggest a hot, not bubbly, IPO market, but there has been an inflection around the <a href="https://www.businessinsider.com/category/lyft">Lyft IPO</a>, as the market has gotten hotter since then." Instead, the longterm momentum of the market will reveal itself in midsummer or fall, once the first of the big IPOs of the year report their second and third quarter earnings and investors get a sense of whether the companies are actually worth what they trade at, Draho reckons.Read more: <a href="https://www.businessinsider.com/slack-cfo-slides-show-expenses-revenue-margins-before-ipo-2019-5">These are the slides about Slack's spending, sales and customer growth that the CFO is betting its IPO on</a>"That's also when six-month lock-up agreements begin to expire, enabling pre-IPO shareholders to start selling in large scale, potentially putting downward pressure on stock prices," Draho said. "All this suggests a runway of about six more months for this hot IPO market, after which it could continue or sputter out, depending on how the current IPOs perform."In addition to the performance of companies like <a href="https://www.businessinsider.com/category/zoom">Zoom</a> and <a href="https://www.businessinsider.com/category/uber">Uber</a>, Draho thinks the market could eventually cool off simply because there aren't enough unicorn companies going public."There needs to be an actual supply of IPOs, ideally by unicorns, for a hot market to even exist," he wrote. "Unlike the dotcom era when companies went public after only a few years of operations in order to raise capital, startups today have greater access to private capital and are staying private much longer. Consequently, we should expect far fewer IPOs in this hot market, barring a shift toward much earlier public listings." <a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=uber&amp;itm_campaign=40-big-tech-predictions-for-2019"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-to-secure-your-data-profiles-online-accounts-hacks-2019-5">9 simple ways to protect your data that don't take much time, but could have huge security benefits</a></h3> <div> </div> </div>

Investors have seen triple-digit returns on some 2019 IPOs, but UBS think there are 2 key reasons it could cool by midsummer

<ul><li><keyword id="2675287" type="PERSON" weightage="60" keywordseo="Doordash">DoorDash</keyword> is set to go public on Tuesday, but one stock analyst cautioned investors against buying into the food-delivery startup.</li><li>"We think this proposed public equity offering holds no value, $0, beyond bailing out private investors before unsuspecting public investors realize ," <keyword id="3498946" type="PERSON" weightage="60" keywordseo="david-trainer">David Trainer</keyword>, the founder and CEO of <keyword id="10394940" type="UNKNOWN" weightage="60" keywordseo="new-constructs">New Constructs</keyword>, said in an email.</li><li>Trainer said he was concerned that it took a global pandemic for the company to turn a profit.</li><li>Though revenue grew by 268% year-over-year in the third quarter, DoorDash might not be profitable in the future, especially after a coronavirus vaccine sends more people back to restaurants, Trainer said.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest">Visit Business Insider's homepage for more stories</a>.</li></ul>DoorDash's initial public offering "holds no value," and the company may never be profitable, said David Trainer, the CEO and founder of New Constructs.The food-delivery startup upped its <keyword id="6354763" type="UNKNOWN" weightage="60" keywordseo="ipo">IPO</keyword> price range to $90 to $95 a share in a filing on Friday after initially targeting $75 to $85. The new target means DoorDash is now seeking to raise as much as $3.1 billion in its public debut on Tuesday.It could be one of the largest US tech IPOs of the year, though Trainer branded it "the most ridiculous IPO of 2020."The veteran Wall Street analyst said that DoorDash's last private valuation was only $16 billion and that its pre-IPO stage reflected the "overblown fervor of the work-from-home theme.""We think this proposed public equity offering holds no value, $0, beyond bailing out private investors before unsuspecting public investors realize the business is not viable in its current form," he said in an email.Read more: <a href="https://www.businessinsider.com/trading-strategy-market-wizard-chris-camillo-shares-secrets-to-millions-2020-12" target="_blank" rel="noopener">Market wizard Chris Camillo grew his trading account by $9.7 million in 2020. Here's the simple strategy he's using to mint millions.</a>Trainer added that the company would need to grow its share of the competitive global food-delivery app market to over 56% from roughly 16% over the trailing 12 months to justify its valuation.DoorDash's revenue grew by 268% year-over-year in the third quarter of 2020, but Trainer cautioned investors against expecting further growth, especially if a swiftly deployed coronavirus vaccine sends people back into restaurants."It took a global pandemic to drive the firm's one quarter (ended June 30, 2020) of GAAP profitability. The firm has not been profitable since, and we think it may never be," he said.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-top-recovery-bets-q1-2021-goldman-2020-12" target="_blank" rel="noopener">Goldman Sachs says buy these 19 beaten-down stocks on its 'holiday shopping list' that are poised to break out in the 1st quarter of 2021</a>"Investors should take DoorDash's GAAP numbers with a grain of salt," Trainer added. "The company disclosed a material weakness in its internal control over financial reporting in its S-1. This disclosure means DoorDash didn't have adequate technology and processes in place to ensure the accuracy of its financial statements and increases the odds that DoorDash will need to restate its financials in the future."Trainer also pointed out that DoorDash publicly filed for its IPO on November 13, a few days after Pfizer announced its vaccine was found to be over 90% effective at preventing COVID-19."We think DoorDash's current investors and bankers recognize that the window of opportunity to IPO this terrible business closes quickly when the threat of COVID-driven lockdowns no longer drives growth in food delivery demand," the analyst said.Read more: <a href="https://www.businessinsider.com/stock-market-outlook-for-2021-winners-losers-blackrock-despirito-2020-12" target="_blank" rel="noopener">A stock chief at BlackRock, the world's largest asset manager, talked to us about what's next in 2021 for the biggest market winners - and explained why energy and retail are poised for a comeback</a>

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