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<ul><li>Shares of Pradeep Phosphates listed at ₹43.55 while the shares were allotted at ₹42 per share.</li><li>The IPO received decent response from investors as it was subscribed 1.75 times on the last day of the bidding.</li><li>The market capitalisation of the company stood at ₹3,730 crore.</li></ul>Fertilizer company Paradeep Phosphates’ stock rose by over 9.4% after it made its debut on the stock exchanges today. It’s one of the best performing stocks on listing day as the stock exchanges in general are on an upswing. While BSE Sensex is trading 340 points higher than the last close, NIFTY gained 106 points higher in early trade. The market capitalisation of the company stands at ₹3,730 crore, according to BSE data. The listing gains are much higher than what the unofficial grey market has accounted for – a mere 50 paise premium. The IPO was oversubscribed 1.75 times by investors. Retail investors had oversubscribed the IPO by 1.37 times. The company is engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). Its financial performance has improved over the years with net profit at ₹223 crore in FY21 as against ₹158 crore in FY19. Most analysts had recommended investors to subscribe to the IPO on reasonable valuation and on strong prospects for the Indian fertilizer industry that is supported by the government with fair regulations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/tata-steel-jsw-sail-and-jspl-will-lose-half-of-their-export-biz-as-government-wages-war-on-inflation/articleshow/91814365.cms">Tata Steel, JSW, SAIL and JSPL will lose half of their export biz as government wages war on inflation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/unacademy-ceo-gaurav-munjal-asks-employees-to-prepare-for-a-funding-winter-that-could-last-24-months/articleshow/91812288.cms">Unacademy CEO Gaurav Munjal asks employees to prepare for a funding winter that could last 24 months</a>

Paradeep Phosphates lists at a 9% premium as Sensex and Nifty trade in the green

The government has raised over Rs 4.04 lakh crore through disinvestment and strategic sale of public sector enterprises since the Modi government came into power in 2014, the <keyword id="47209" type="General" weightage="80" keywordseo="finance-ministry" source="Orion">Finance Ministry</keyword> said on Tuesday. Of this, the largest amount totalling over ₹1.07 lakh crore through offer for sale in 59 cases. This was followed by a stake sale through <keyword id="181067" type="General" weightage="80" keywordseo="exchange-traded-fund" source="Orion">Exchange Traded Fund</keyword> (ETF) in 10 tranches, aggregating to ₹98,949 crore. Strategic sales in 10 companies, including <keyword id="2573" type="General" weightage="80" keywordseo="air-india" source="Orion">Air India</keyword>, yielded Rs 69,412 crore to the exchequer in the last 8 years. Share buyback in 45 cases fetched ₹45,104 crore. 17 CPSEs were listed since 2014-15, which yielded Rs 50,386 crore. Of this, the initial pub<keyword id="6367143" type="General" weightage="80" keywordseo="lic" source="Orion">lic</keyword> offering (IPO) of LIC alone fetched the government Rs 20,516 crore. The additional market capitalisation of ₹7.31 lakh crore was achieved through new listings, the ministry said. Besides, the government has sold its residual stake in <keyword id="411504" type="General" weightage="80" keywordseo="paradeep-phosphate-ltd" source="Orion">Paradeep Phosphate Ltd</keyword>, IPCL, and Tata Communication for ₹472 crore, ₹219 crore and ₹8,847 crore, respectively. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fintech-player-zaggle-files-ipo-papers-with-sebi-to-mobilise-funds-via-ipo/articleshow/96367455.cms">Fintech player Zaggle files IPO papers with Sebi to mobilise funds via IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-to-pause-rate-hikes-in-2023-peak-rate-at-6-25-to-6-5-percent-says-kotak-institutional-equities/articleshow/96371881.cms">RBI to pause rate hikes for most of 2023, hold peak policy rate at 6.25-6.5%: Kotak Institutional Equities</a>

Govt raises over ₹4 lakh crores via disinvestment since 2014

<ul><li>The fertilizer company will open its IPO on May 17 and will close on May 19.</li><li>The price band of the IPO is ₹39 - ₹42 per share.</li><li>Shares of the company are already demanding a premium of ₹3 per share in the grey market, which is 10% on the issue price.</li></ul>The fertilizer company will open its initial public offering (IPO) on May 17 and will close on May 19. The IPO consists of a fresh issue of shares worth ₹1,501 crore and an offer for sale of 11.85 crore shares by promoters and shareholders of the company. The company is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna. Shares of the company are demanding a premium of ₹3 per share in the grey market, which is 10% on the issue price. Grey market is the unofficial market where shares are traded before they are either offered or listed. Here are some of the important dates 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;">₹39 to ₹42 </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;">May 17 </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;">May 19 </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;">May 24 </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;">May 25 </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;">May 26 </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;">May 27 </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;">350 </td></tr></tbody></table> “Given the fact that the company is valued in line (Chambal fertilizer and Deepak fertilizer) with peers and likely to face headwinds in terms of cost pressures due to recent increase in raw material prices, we recommend a NEUTRAL rating on the issue,” said a report by Angel One. The fertilizer company’s performance has been improving steadily for the last three financial years. <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;">Year </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;">Revenue </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;">Profit </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;">₹5,183 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹223 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;">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;">₹4,227 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹193 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;">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;">₹4,397 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹158 crore </td></tr></tbody></table>(Source: Red Herring Prospectus) However, the company has a long way to go in comparison to its peers, who are more profitable and have more diversified chemical businesses. <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;">Companies </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;">Profit after tax (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;">Chambal Fertilisers and Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.5 billion </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;">Coromandel International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13.1 billion </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;">Gujarat State Fertilizers &amp; Chemicals </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;">₹4.2 billion </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;">Rashtriya Chemicals and Fertilizers </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;">₹3.7 billion </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;">National Fertilizers </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;">₹2.5 billion </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;">Paradeep Phosphates </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;">₹2.2 billion </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;">Deepak Fertilisers and Petrochemicals Corporation </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;">₹2.1 billion </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;">Mangalore Chemicals &amp; Fertilizers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0.7 billion </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/upcoming-new-ipo-in-this-week-paradeep-phosphates-ethos-emudhra/articleshow/91597535.cms">Three new IPOs opening this week — Paradeep Phosphates, Ethos, eMudhra while LIC to list on exchanges tomorrow</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-most-valuable-startups-in-india-in-2021-22/slidelist/91594694.cms">Top 10 most valuable startups in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-companies-will-benefit-through-backward-integration-with-buyout-of-ambuja-and-acc-cement-companies/articleshow/91591119.cms">Adani Group companies will benefit through backward integration with buyout of two major cement firms — Ambuja Cements, ACC</a>

Paradeep Phosphates IPO opens today — GMP already at ₹3 per share

<ul><li>Three new IPOs will open their subscriptions this week – Paradeep Phosphates, Ethos and eMudhra.</li><li>Meanwhile, LIC will be listed on Indian stock exchanges tomorrow, May 17.</li><li>All the three IPOs together intend to raise over ₹2,300 crore from investors this week.</li></ul>Even in times of volatile market conditions, three companies are looking to raise over ₹2,300 crore from the primary markets. The IPOs of Paradeep Phosphates, Ethos, eMudhra will open their issues next week. Meanwhile, India’s largest IPO of LIC which closed last week will make its debut on the exchanges tomorrow (May 17). The <a href="https://www.businessinsider.in/stock-market/news/sensex-nifty-50-tank-nearly-2-and-here-are-the-top-losers-in-it-banking-and-other-sectors/articleshow/91363804.cms">current weak market </a>sentiment may have some bearing on the flow of primary investments, as investors are concerned about rising inflation, and the rising interest rates. Here are the three IPOs opening next week: <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;">IPO open date </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paradeep Phosphates </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;">May 17 </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;">May 19 </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;">Ethos </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;">May 18 </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;">May 20 </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;">eMudhra </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;">May 20 </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;">May 24 </td></tr></tbody></table> <keyword id="12539694" type="General" weightage="20" keywordseo="emudhra-ipo" source="Orion">eMudhra IPO</keyword> to open on May 20 to raise ₹412 crore eMudhra is a certifying authority (CA) authorised by the controller of certifying authority (CCA) for issuance of Digital Signature Certificates in India. The company claims to be the largest licensed certifying authority in India with a market share of 37.9% as of FY21, which grew from 36.5% in FY20. It’s issuing fresh shares worth ₹161 crore and an offer for sale up to 98.35 lakh equity shares. The company is engaged in the business of providing digital trust services and enterprise solutions like individual/organizational certificates, digital signature certificates, SSL/TLS certificates and device certificates, a portfolio of digital security and paperless transformation solutions, multi-factor authentication, mobile application security, website security testing, IT policy assessment, etc. The firm has issued more than 50 million digital signature certificates since inception. It caters to all kinds of subscribers who use digital signature certificates for income tax return filing, filings with the Ministry of Corporate Affairs (Registrar of Companies), tenders, foreign trade, banking, railways and many other needs. The proceeds from the IPO will be used to repay debt, funding working capital, buy equipment for data centers, investment in eMudhra INC for augmenting its business development, sales, marketing and other related costs to growth. The IPO will open on May 20 and close on May 24 with a price band of ₹243 - ₹256 per share. <keyword id="13028832" type="General" weightage="20" keywordseo="ethos-ipo" source="Orion">Ethos IPO</keyword> will open on May 18 to raise ₹472 crore Ethos is a Chandigarh-based luxury watch retailer that is coming up with an IPO worth ₹472 crore including a fresh issue of equity shares worth ₹375 crore and an offer for sale (OFS) of up to 11.08 lakh equity shares. The company has a portfolio of 50 premium and luxury watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser &amp; Cie, Rado, Longines, Baume &amp; Mercier, Oris SA, Corum, Carl F. Bucherer, Tissot, Raymond Weil, Louis Moinet and Balmain. It has a market share of 20% in the exclusive luxury segment; and 13% share in the total retail sales in the premium and luxury segment. It has 50 physical retail stores in 17 cities in India and offers an omnichannel experience to its customers via website and social media platforms. As of December 31, 2021, the company's website had 2.18 crore visitor sessions. The IPO proceeds will be used towards repayment of debt, funding working capital, capex for establishing new stores and upgrading existing stores. The IPO will open on May 18 and close on May 20 with a price band of ₹836 - ₹878 per share. Paradeep Phosphates to open on May 17 to raise ₹1,501 crore The fertilizer company is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna. The company is looking to raise ₹1,500 crore including fresh issue of shares worth ₹1,004 crore and offer for sale comprises of up to 60.18 lakh equity shares by Zuari Maroc Phosphates and up to 11.24 crore equity shares by The President of India, acting through the Ministry of Chemicals and Fertilizers, Government of India. The Company intends to utilize IPO proceeds from the fresh issue to part-finance the acquisition of the Goa facility, repayment of debt and general corporate purposes. The IPO will open on May 17 and close on May 19 with a price band of ₹39 - ₹42 per share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-most-valuable-startups-in-india-in-2021-22/slidelist/91594694.cms">Top 10 most valuable startups in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zepto-has-been-taking-over-reliance-backed-dunzo-and-zomato-backed-blinkit-says-report/slidelist/91594636.cms">A nine-month old startup is racing past Reliance, Tata and Zomato backed startups in the 10-min delivery market</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-companies-will-benefit-through-backward-integration-with-buyout-of-ambuja-and-acc-cement-companies/articleshow/91591119.cms">Adani Group companies will benefit through backward integration with buyout of two major cement firms — Ambuja Cements, ACC</a>

Three new IPOs opening this week — Paradeep Phosphates, Ethos, eMudhra while LIC to list on exchanges tomorrow

<ul><li>The allotment status of Pradeep Phosphates IPO is likely to be announced today, May 24.</li><li>The fertilisers company raised ₹1,512 crore through its public issue, with its offer being subscribed 1.75 times.</li><li>It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna.</li></ul>The allotment status of Pradeep Phosphates’ initial public offering (IPO) would be announced today, May 24. The fertilisers company raised ₹1,512 crore through its public issue which was open for issue between Mat 17 and May 19. The IPO consisted of a fresh issue of shares worth ₹1,501 crore and an offer for sale of 11.85 crore shares by promoters and shareholders of the company. The issue was subscribed 1.75 times in the three days. The company is primarily engaged in manufacturing, trading, distribution and sales of a variety of complex fertilizers such as Di-Ammonium Phosphate (DAP), three grades of Nitrogen-Phosphorus-Potassium (NPK), Zypmite, Phospho-gypsum and Hydroflorosilicic Acid (HFSA). It caters to farmers across the country through its fertilizers marketed under the brand names Jai Kisaan-Navratna and Navratna. Here is how to check Paradeep Phosphates’ IPO allotment status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Paradeep Phosphates’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar's website (Link Intime India) to check your application <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Paradeep Phosphates’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paytm-market-value-macquarie-icici-securities-goldman-sachs-split-over-target-price/articleshow/91738520.cms" data-type="tilCustomLink">Top brokerages split over Paytm — Macquarie sees Paytm at ₹450, ICICI Securities at ₹1,285</a> <a href="https://www.businessinsider.in/science/environment/news/thunderstorms-rain-bring-down-homes-and-power-supplies-along-with-temperatures-in-north-india/articleshow/91735531.cms" data-type="tilCustomLink">Thunderstorms, rain bring down homes and power supplies along with temperatures in North India</a> <a href="https://www.businessinsider.in/business/news/billionaire-wealth-rose-more-in-2-years-than-in-the-last-23-years-combined/articleshow/91734674.cms">Billionaire wealth rose more in 2 years than in the last 23 years combined</a>

Paradeep Phosphates IPO — how to check allotment status

The <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed up by as much as 1,400 points during the day, to close at 84544.31. Nifty wasn't far behind, inching up over 1% during the day to close at 25790.95. What is driving this rally? And this is not just the secondary market. The primary market, i.e. IPO subscriptions are also witnessing a stellar surge in investor interest. The IPOs of Northern Arc Capital and Arkade Developers, which closed yesterday, were oversubscribed 117 times and 113 times, respectively, largely on the back of significant investments made via the QIB and NII categories. But the question is, what is driving this frenzy, which comes on the heels of the Fed's recent announcement slashing interest rates by a significant 50 basis points? Experts explain that the most direct impact of the rate cut comes in the form of higher <keyword id="20078820" type="General" weightage="20" keywordseo="foreign-capital-inflows" source="keywords">foreign capital inflows</keyword> into emerging markets like India. The impending anticipation of this is what is driving the rally witnessed in the stock market today. As per data from NSDL’s FPI monitor, foreign investors infused a net total of Rs 2,341.64 crore in Indian equity markets via stock exchanges, as of September 19th, 2024. Data shows that September has seen inflows of around Rs 27,862 crores in first half of September. This is around 4 times the flows seen during the entire month of August. Just within this week (till September 19), FPI inflows have touched Rs 5,419 crores. Palka Arora Chopra. Director, <keyword id="23251477" type="General" weightage="20" keywordseo="Master-Capital-Services" source="keywords">Master Capital Services</keyword> Ltd explains that the current upswing in the stock market results from market forecasts of increased foreign inflows into India following the Fed rate decrease. “This, combined with the fact that US jobless claims are at their lowest since May 2024, have alleviated concerns about the US labor market failing, rather, it is simply slowing down. This is also why the Dow Jones Industrial Averages and S&amp;P 500 index surged to 1.7%, and Asia saw a rise in markets across Korea, Japan, and Hong Kong”, she continued. Riding on the tide of higher foreign inflows is the strengthening of Indian Rupee. Already, the rupee has regained strength from a high of 84.0 to 83.7 over the last week, and this trend may continue in the near term. Santosh Meena, Head of Research, Swastika Investmart Ltd notes that historically, emerging markets tend to outperform during the onset of a rate-cut cycle in the U.S. “Indian markets, backed by robust fundamentals, remain resilient despite concerns over valuations. Large-cap stocks, particularly in the private banking sector, continue to look attractive, fueling the current bullish momentum. This positive trend is expected to persist unless significant negative developments arise on the domestic or global front”, he highlights. Mr. Pradeep Gupta, Co-founder &amp; Vice-chairman, Anand Rathi Group notes that this rate cut comes with some short-term benefits for the country, which means stronger rupee and potential capital inflows. "A stronger rupee would make imports cheaper, potentially improving India’s trade balance. However, these advantages may be temporary if the US economy continues to weaken. The Reserve Bank of India (RBI) may follow the Fed’s lead but not immediately. Improved global sentiment could drive a rally in <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>, as emerging economies like India become more attractive to investors", notes Gupta. But note that in the longer term, the direction of the Indian stock market will depend largely on global economic conditions, and particularly the health of the US economy. If the US achieves a “soft landing”, as is targeted by Fed, and avoids a recession, Indian equities may experience gradual growth. However, if the global outlook deteriorates, Indian markets—especially mid and small-cap segments, could come face to face with increased volatility and market downturns. <h2>What should your investment strategy be?</h2>SEBI registered Investment Advisor Gaurav Goel advises having a thorough look at your portfolio whenever the equity markets hit a fresh high. Look, it is practically impossible to time the markets. But, as a smart investor, markets hitting a fresh high is a good time to rebalance your portfolio, so that you can cushion your funds from any significant downturn that will invariably stem from any market downturns thereafter "When equities hit all time highs, there is a natural tendency of equity component of your asset allocation to breach the prescribed asset allocation. In such a situation, on should reassess the asset allocation and shave off excess percentages from the equity allocation to revert to the mean". Goel also suggests hedging a portion of your portfolio by buying naked long dated put options on benchmark index like Nifty 50. This way, you'd be able to benefit from a decrease in the prices of underlying assets, without having to own it. But most importantly, "At these crests, its important to shuffle your portfolio. Remove the crap, low-value stocks that might have made their in your portfolio during bullish phase, and replace with high quality stocks. Shift your assets more toward the large cap stocks/index funds where the volatility would be less or towards sector/market caps, which are less expensive on valuations", Goel continued. As for traders looking to make the most of the ongoing upward trajectory of the market, Osho Krishan, Senior Analyst, Technical &amp; Derivatives, Angel One, advises "capitalizing on the upward momentum by taking profits, rather than adopting an aggressive stance in the overbought territory". "From a technical perspective, we have entered a phase where the market is overbought, as indicated by various metrics. Therefore, it is crucial to avoid complacency and instead adopt a practical and realistic approach to the current situation", he continued. Anirudh Garg- Founder and Fund Manager at Invasset PMS explains that "When markets hit an all-time high, investors need to reassess their strategies to navigate potential risks while still capitalizing on opportunities. However, it’s essential to understand that not every market high signals overvaluation. There’s a key difference between markets reaching record levels and being fundamentally expensive. Identifying this distinction helps avoid premature decisions based solely on market peaks". "In particular, when mid-cap and small-cap stocks exhibit stretched valuations, investors should shift their focus to high-quality companies. These are firms with robust balance sheets, consistent earnings growth, and strong competitive advantages, often found in sectors linked to steady inflation", says Garg. Naturally, quality stocks tend to be more resilient in volatile environments, offering stability and better protection against downside risk. Also, don't forget to keep an eye out for the risk-reward ratio, which becomes critical during expensive markets. This involves diversifying portfolios, avoiding overexposure to overheated sectors, and focusing on capital preservation while seeking reasonable returns. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Indian markets surging to all time highs today: What's happening post Fed decision?

The D-day approaches as Chennai Super Kings will be playing against Gujarat Titans in the finale of the Indian Premier League 2023. The match will take place at the Narendra Modi Stadium on Sunday. To make this occasion even more memorable, the 'Captain Cool' will be making his 250th IPL appearance, his 11th final as a player and his 10th as a skipper. No other player has played 250 IPL matches and <keyword id="6397" type="General" weightage="100" keywordseo="dhoni" source="Orion">Dhoni</keyword> is the first player to do so. Dhoni has made most appearances in IPL finals as a player and as a captain. In IPL, Mahendra Singh Dhoni has played for Chennai Super Kings and Rising Pune Supergiant. In 249 IPL matches so far, Dhoni has scored 5,082 runs at an average of 39.09 and a strike rate of 135.96 in 217 innings. His best score is 84* and he has scored 24 half-centuries. He is the seventh-highest run scorer in the league's history. For Chennai Super Kings, the right-handed batsmen have played 219 matches. In 190 innings he has 4508 runs with 22 half-centuries. His highest score was 84. The strike rate is 137.52 Dhoni's batting average is 40.25. For Rising Pune Supergiant, the wicket-keeper batsmen have played 30 matches from 2016-17. He has scored 574 runs in 27 innings. Dhoni had scored two half-centuries for RSP. His highest score was 64. The strike rate was 124.78. His batting average was 31.89. As a captain for CSK and RPS, Mahendra Singh Dhoni has led his team to 225 matches, the most by any player in IPL history. He managed to win 132 matches while losing 91. Dhoni has led CSK to four IPL titles, while he was part of the RPG team's runner-up finish in 2017, where they lost to MI. Dhoni has captained CSK in 211 matches. Out of this, Dhoni has won 127 matches, lost 82 and two matches ended in no result. Dhoni has led RPG in 14 matches, out of which he won five, and has lost nine matches. Hardik Pandya-led GT will be aiming to defend their title which they won in their debut season itself last year, while Dhoni-led CSK will be aiming to win their fifth title, especially for their skipper, who could be playing his final IPL match today. Ever since the start of the tournament, Dhoni's retirement from IPL has been speculated by fans. Chennai Super Kings squad: <keyword id="6354832" type="General" weightage="20" keywordseo="ms-dhoni" source="Orion">MS Dhoni</keyword>, Ruturaj Gaikwad, Subhranshu Senapati, Moeen Ali, Rajvardhan Hangargekar, Devon Conway, Shivam Dube, Dwaine Pretorius, Mitchell Santner, Tushar Deshpande, Ravindra Jadeja, Mukesh Chowdhary, Deepak Chahar, Ambati Rayudu, Matheesha Pathirana, Simarjeet Singh, Prashant Solanki, Maheesh Theekshana, Ben Stokes, Nishant Sindhu, Ajinkya Rahane, Sisanda Magala, Ajay Mandal, Shaik Rasheed, Bhagath Varma. Gujarat Titans: Hardik Pandya, Rahul Tewatia, Vijay Shankar, Darshan Nalkande, Jayant Yadav, Odean Smith, Shivam Mavi, Shubman Gill, David Miller, Abhinav Manohar, Sai Sudharsan, Dasun Shanaka, Wriddhiman Saha, Matthew Wade, <keyword id="62359" type="General" weightage="50" keywordseo="rashid-khan" source="Orion">Rashid Khan</keyword>, Mohammed Shami, Alzarri Joseph, Yash Dayal, Pradeep Sangwan, R Sai Kishore, Noor Ahmad, Joshua Little, Mohit Sharma, KS Bharat, Urvil Patel. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/india-dominates-smartwatch-market-accounts-for-over-a-quarter-of-global-sales-in-q1-2023/articleshow/100522354.cms">India dominates smartwatch market, accounts for over a quarter of global sales in Q1 2023</a> <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered</a> <a href="https://www.businessinsider.in/business/auto/news/electric-scooters-and-bikes-may-get-costlier-as-government-looks-to-revamp-the-fame-ii-scheme/articleshow/100321089.cms">Electric two wheelers may get costlier as government looks to revamp the FAME-II scheme</a>

MS Dhoni set to play 250th IPL match of his career

Creating lasting and <keyword id="18310239" type="General" weightage="20" keywordseo="sustainable-wealth" source="Orion">sustainable wealth</keyword> is the aspiration of every investor, and achieving this goal often involves exploring different asset classes and investment strategies. If you are also assessing investment options aimed at accumulating sustainable wealth, small-cap stocks, with their potential for substantial returns over the long haul, could be a compelling choice. <cmsannotation type="cmsannotation" annotationid="The appeal of small-caps" comment="subhead" text="The appeal of small-caps">The appeal of small-caps</cmsannotation> Before we go into the details of why small-caps can make an interesting and excellent investment choice, especially for long-term investors, let us understand what the term indicates. Small-cap stocks are companies which have a market capitalisation that is lower than their bigger peers – the large-caps and the mid-caps. Typically, small caps are stocks of a public company whose total market value or market capitalisation is between $250 million and $2 billion. These small cap companies,listed on the National Stock Exchange, typically within positions of 251 to 500, represent a relatively untapped opportunity for wealth creation in bullish market scenarios, provided investors are committed to the long term. Here are a few reasons why <keyword id="18310237" type="General" weightage="20" keywordseo="small-cap-investments" source="Orion">small cap investments</keyword> are gaining appeal among savvy investors and how they can contribute to diversified, long-term portfolios. <ul><li>Growth potential: Small-cap stocks are often characterised by higher growth potential compared to their larger counterparts. As these companies are in the early stages of expansion, they have more room for growth and can demonstrate rapid revenue and profit growth in the long run. </li><li>Undervalued opportunities: Given their diminutive nature, the small-cap market is less followed by analysts and investors, leading to instances of undervalued gems waiting to be discovered. Investing in these hidden opportunities can lead to significant gains as their value is realised by the broader market. </li><li>Limited institutional ownership: Small-cap stocks tend to have lower institutional ownership, which means their prices are less influenced by institutional trading activities. This lower level of institutional ownership can lead to reduced volatility and more stable long-term returns. </li><li>Diversification benefits: Including small-cap stocks in an investment portfolio can provide diversification benefits as they have a lower correlation with large-cap stocks, providing a hedge against market fluctuations and reducing overall portfolio risk. </li><li>Historical performance: Between February 2004, and July 2023, the <a href="https://in.investing.com/indices/cnx-smallcap-historical-data?end_date=1690200497&amp;st_date=961785000&amp;interval_sec=monthly">Nifty small-cap 100 index</a> surged from a mere 832.06 points to a magnificent 11,572.40, indicating an almost 14X growth over the last two decades. In comparison, the <a href="https://in.investing.com/indices/cnx-midcap-historical-data?end_date=1690201618&amp;interval_sec=monthly&amp;st_date=1077561000">Nifty midcap 100</a> has risen from 3663 points in 2005, to 36,720.85 in 2023, exhibiting a 10X growth. Coming to the large cap segment, the <a href="https://in.investing.com/indices/s-p-cnx-nifty-historical-data?end_date=1690201781&amp;interval_sec=monthly&amp;st_date=1077561000">Nifty 50 </a>has depicted an 11X growth, between 2004 and 2023, rising from 1,771.90 points to 19,666.45. Across the board, the small-cap index has exhibited higher growth than its larger peers, potentially aided by its nimble size and adaptive nature. </li></ul><cmsannotation type="cmsannotation" annotationid="Cusp of a boom" comment="subhead" text="Cusp of a boom">Cusp of a boom</cmsannotation> The performance of small-cap stocks is intricately linked to economic activity and therefore, when economic conditions are favourable, small-cap stocks tend to thrive due to various factors such as robust economic growth, and stable interest rates. India’s current economic expansion presents an opportune environment for small caps to benefit from increased consumer spending and business investments. Stable interest rates further foster access to capital at attractive costs, stimulating business growth and expansion for small cap stocks. Separately, small-cap stocks have historically shown their strongest performance during the early stages of economic recovery for, as the economy picks pace, smaller companies can experience rapid growth, boosting their stock prices. In addition, economic growth often spurs an increase in mergers and acquisitions, making smaller companies with innovative products or technologies attractive acquisition targets for larger enterprises. This could lead to potential windfalls for small-cap investors who get their skin in the game at an early stage. <cmsannotation type="cmsannotation" annotationid="Risks and considerations" comment="subhead" text="Risks and considerations">Risks and considerations</cmsannotation> Even as the sky remains the limit for small-cap stocks, investors must recognise the underlying high risk and uncertainty. Even as the economy remains conducive, small-caps may still face challenges in accessing funding, navigating competitive markets, and sustaining growth over the long term. Therefore, if you are keen on small cap investments, do undertake due diligence and research to make informed decisions and achieve optimal outcomes. Overall, small cap investments offer an attractive path to long-term wealth creation, driven by their growth potential, undervalued opportunities, limited institutional ownership and diversification benefits. As the economy grows, small-cap stocks stand to benefit, though investors must be mindful of the associated risks. Hence, by carefully adding small-cap stocks into a well balanced investment strategy, savvy investors can unlock the potential for sustainable returns over time. Disclaimer: The article is authored by Pradeep Thadani, Director, Psquare Money Pvt Ltd. The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India. Do your own research (DYOR) before deciding to invest in any financial asset class.

Building sustainable wealth via small-cap investments

<ul class="summary-list"><li><keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> cut prices for its Chinese-market Model 3 sedans by up to 10%, as reported by Reuters.</li><li>The company will outfit future standard-range Chinese-made Model 3s with cheaper, cobalt-free battery packs, anonymous sources told Reuters recently.</li><li>Tesla did not confirm which batteries the standard-range car with the updated price currently uses. </li><li>The basic Model 3 now costs $249,900 yuan in China, around $36,800 at current exchange rates. </li></ul>Tesla cut the price of its Chinese-market Model 3 sedans by up to 10%, according to pricing listed on the <a href="https://www.tesla.cn/model3/design#battery">company's China website</a>. The move came the same week that sources told <a href="https://www.reuters.com/article/tesla-china/tesla-cuts-starting-price-for-china-made-model-3-cars-by-8-idUSKBN26M52U">Reuters</a> Tesla would move to a cheaper battery in certain Chinese-made Model 3s, but it wasn't clear whether that caused the price drop.A Shanghai-made Model 3 with standard driving range will now run you 249,900 yuan — roughly $36,800 at current exchange rates — after government subsidies. The base cars previously cost 271,550 yuan, or about $39,990, <a href="https://www.reuters.com/article/tesla-china/tesla-cuts-starting-price-for-china-made-model-3-cars-by-8-idUSKBN26M52U">Reuters</a> reported. The longer-range models also got price cuts, Reuters added. After subsidies, the long-range model now retails for 309,900 yuan, around $45,640 at current exchange rates. That's down from 344,050 yuan, or approximately $50,670.The price drops came not long after Reuters, citing unnamed sources, reported that the EV maker would outfit standard-range cars made in China with a <a href="https://www.businessinsider.com/tesla-use-cobalt-free-batteries-in-model-3-production-china-2020-9">new, cheaper battery pack</a>. It wasn't clear at the time of the report whether the cheaper battery would lower the cost of the Model 3, and Reuters said after the price drop that Tesla "did not disclose what batteries the cheaper version uses."Still, Reuters reported Wednesday that the new battery units would be lithium-iron-phosphate batteries, which are cheaper than the nickel-manganese-cobalt units the carmaker used previously. The new batteries would also be cobalt-free.Cobalt is one of the priciest metals used in EV-battery manufacturing, and its production is rife with problems. <a href="https://www.washingtonpost.com/politics/2019/02/21/demand-congos-cobalt-is-rise-so-is-scrutiny-mining-practices/">More than half</a> of the world's cobalt supply comes from the Democratic Republic of Congo, where its production includes human-rights violations such as <a href="https://www.wired.com/story/alternatives-to-cobalt-the-blood-diamond-of-batteries/">child mining labor</a>.Elon Musk has expressed plans to reduce Tesla's reliance on the controversial material, <a href="https://twitter.com/elonmusk/status/1006968985760366592">tweeting</a> in 2018 that the company's next-generation batteries will "use none."Telsa did not immediately respond to Business Insider's request for comment.<h2><a href="https://www.reuters.com/article/tesla-china/tesla-cuts-starting-price-for-china-made-model-3-cars-by-8-idUSKBN26M52U">Read the full Reuters story here.</a></h2>

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