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Low-cost carrier <keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword> has entered into a full and final settlement with the <keyword id="54875" type="General" weightage="50" keywordseo="airports-authority-of-india" source="Orion">Airports Authority of India</keyword> (<keyword id="47439" type="General" weightage="80" keywordseo="aai" source="Orion">AAI</keyword>) and cleared all outstanding principal dues of the airport operator. With this, SpiceJet will no longer remain on "cash and carry" at AAI-run airports across the country and revert to advance payment mechanism for daily flight operations. According to the airline's spokesperson, SpiceJet's ability to clear the pending dues reflects the airline's improved cash flow in recent times. "In another big boost for the airline, AAI will release SpiceJet's Rs 50 crore bank guarantee following the airline clearing all its principal dues. This will result in additional liquidity for the airline," said the airline. SpiceJet has flown with the highest passenger load factor in the Indian skies for a record seven years. Starting April 2015, the airlines has recorded the highest occupancy among all Indian domestic airlines - a feat unparalleled in global aviation. The airline also holds the envious distinction of having flown with a Passenger Load Factor (PLF) of more than 90 per cent for a record 58 consecutive months. The airline's domestic network covers the length and breadth of the country with it operating to 51 domestic destinations. Pioneer of the regional connectivity scheme, SpiceJet is the country's largest regional player helping connect the remotest parts of the country by air. The airline's focus on providing direct flight connectivity to regional hubs not only ensures better connectivity, it also has a cascading effect on tourism and economic activity in the region. SpiceJet has added multiple <keyword id="6366656" type="General" weightage="50" keywordseo="udan" source="Orion">UDAN</keyword> destinations to the country's aviation map including Pakyong, Jharsuguda, Kandla, Darbhanga, Kanpur, Ajmer (Kishangarh), among others. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/top-10-cars-sold-in-india-in-july-2022-maruti-suzuki-tata-and-hyundai-brand-in-only-top-10/slidelist/93289907.cms">Top cars sold in India in July 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/air-india-to-extend-the-flying-age-of-its-pilots-to-65/articleshow/93288865.cms">Air India to extend the flying age of its pilots to 65</a>

Spicejet clears all outstanding principal dues of AAI

<ul><li>Madras High Court has reportedly allowed the winding down petition filed by <keyword id="48085" type="General" weightage="20" keywordseo="credit-suisse" source="Orion">Credit Suisse</keyword> AG against the airline for a default of $20 million.</li><li>Due to this, shares of its competitor Interglobe Aviation (<keyword id="6354706" type="General" weightage="20" keywordseo="indigo" source="Orion">Indigo</keyword>) surged nearly 4% on Tuesday.</li><li><keyword id="6358032" type="General" weightage="20" keywordseo="spicejet" source="Orion">SpiceJet</keyword>’s stock was down 0.2% at ₹68.70.</li></ul>Debt-laden SpiceJet’s woes are not over yet as the Madras High Court has <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/hc-allows-winding-up-plea-against-spicejet-by-credit-suisse-ag/articleshow/88134533.cms">reportedly </a>allowed the winding petition filed by Credit Suisse AG against the airline for a default of $20 million. Further, the court has asked the official liquidator (Credit Suisse) to take over the assets of SpiceJet on the grounds of inability to repay debts by the airline. <div type="image" title="spiceet" height="900" width="1200" msid="88165010" hostid="261"></div> Apparently, Credit Suisse had approached the court to receive the payment on behalf of Switzerland-based <keyword id="1548061" type="General" weightage="20" keywordseo="sr-technics" source="Orion">SR Technics</keyword> from SpiceJet. SR Technics is a maintenance, repair and operations service provider for aircraft, engines and components. Following this, shares of its competitor Interglobe Aviation (Indigo) surged nearly 4% on December 7. <div type="image" title="indigo 2" height="900" width="1200" msid="88164984" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms">Zoho is selling its video calling app in as many ways as possible</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

Indigo stock gains as a plea to shut down SpiceJet has been admitted

<ul><li>Last week, a cash-starved <keyword id="6358200" type="DOMAIN" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> decided to temporarily suspend operations after its creditors refused to give into its requests for emergency funding. </li><li>In the immediate aftermath of the move, domestic <keyword id="6375796" type="UNKNOWN" weightage="20" keywordseo="airfares">airfares</keyword> surged by as much as 200% owing to <keyword id="6390515" type="UNKNOWN" weightage="20" keywordseo="capacity">capacity</keyword> constraints and the fact that a number of prime flight slots were now empty. </li><li>As they get Jet’s flight slots, domestic airlines have no choice but to increase the size of their fleets to meet their flight commitments.</li></ul> Last week, a cash-starved Jet Airways decided <a href="https://www.businessinsider.in/jet-airways-last-flight-tonight-will-increase-airline-ticket-cost/articleshow/68925023.cms">to temporarily suspend operations </a>after its creditors refused to give into its requests for emergency funding. In the immediate aftermath of the move, domestic airfares surged by <a href="https://timesofindia.indiatimes.com/city/pune/domestic-airfares-surge-up-to-200-after-jet-airways-crisis/articleshow/68972003.cms">as much as 200%</a> owing to capacity constraints and the fact that a number of prime flight slots were now empty. This only served to hurt consumers, as they were forced to book flights at high prices while waiting for refunds from cancelled flights. That was expected. But even before Jet’s grounding, the Directorate General of Civil <keyword id="31907" type="COMPANY" weightage="20" keywordseo="Aviation">Aviation</keyword> (DGCA) has asked domestic airlines to <a href="https://timesofindia.indiatimes.com/business/india-business/dgca-asks-airlines-to-rein-in-fares-as-jet-crisis-takes-a-toll/articleshow/68914262.cms">keep flight prices in check</a>, given that at least 11 routes had seen average fares increase by more than 10% year-on-year. As <a href="https://timesofindia.indiatimes.com/business/india-business/dgca-asks-airlines-to-rein-in-fares-as-jet-crisis-takes-a-toll/articleshow/68914262.cms">90% of Jet’s slots </a>were unused, the process of allocating them to other airlines was also underway. As they get more flight slots, domestic airlines have no choice but to increase the size of their fleets to meet their increased flight commitments. In fact, instead of a planned addition of 80 planes at domestic carriers, the number has recently been <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/150-new-planes-this-fiscal-to-fight-fare-turbulence/articleshow/68983278.cms?from=mdr">increased to 150</a> - a third of which will be added at market leader Indigo. <keyword id="2573" type="COMPANY" weightage="20" keywordseo="Air-India">Air India</keyword> is currently in the process of securing some planes <a href="https://www.financialexpress.com/industry/air-india-looks-at-leasing-some-boeing-737s-of-grounded-jet-airways/1554785/">that were leased to Jet</a> for both international and domestic routes, having written to the State Bank of India <a href="https://www.livemint.com/companies/news/air-india-keen-on-taking-5-grounded-jet-boeings-1555577250188.html">for permission to do so</a>. AirAsia is also reportedly <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/150-new-planes-this-fiscal-to-fight-fare-turbulence/articleshow/68983278.cms?from=mdr">adding 14 planes</a> this coming quarter. Meanwhile, both <keyword id="6358032" type="DOMAIN" weightage="20" keywordseo="SpiceJet">SpiceJet</keyword>, GoAir and Indigo have also moved to <a href="https://www.livemint.com/companies/news/jet-airways-crisis-spicejet-air-india-step-in-to-soften-blow-to-indian-aviation-industry-1555717072015.html">lease more planes and add more flights</a>. Spicejet alone has hired hundreds of Jet’s former employees. An estimated 20,000 employees were without work when the airline shut operations. Jet’s suspension is expected to last until the creditor-led bidding process for a majority stake in the airline is completed. However, if the bidding process fails to unearth a serious bidder - which is a possibility given the fact that Jet isn’t operational - the airline might have <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jet-airways-crisis-lenders-keen-on-non-ibc-resolution-in-case-bidding-process-fails/articleshow/68974386.cms">to undergo liquidation proceedings</a>. SEE ALSO: <a href="https://www.businessinsider.in/jet-airways-last-flight-tonight-will-increase-airline-ticket-cost/articleshow/68925023.cms">Jet Airways might fly for the last time tonight and that's bad news for travellers</a> <a href="https://www.businessinsider.in/jet-needs-emergency-funding-of-4-billion-to-stay-airborne-until-a-buyer-swoops-in/articleshow/68915745.cms">Jet needs emergency funding of ₹4 billion to stay airborne until a buyer swoops in</a>

As Jet remains grounded, Indian airlines are increasing their fleets to rein in surging ticket prices

<ul class="summary-list"><li>A photo shared on social media showed an uncovered cup of coffee perched on a plane's cockpit controls.</li><li>The photo outraged India's aviation community, with one retired pilot calling it "inexplicable" behavior.</li></ul>Two pilots in India have been grounded following the circulation of a photo that showed them drinking coffee and eating pastries mid-flight in the cockpit of a SpiceJet plane, according to reports.<a href="https://twitter.com/Mohan_Rngnathan/status/1635560522161737729?s=20">The photo,</a> which was shared widely on social media, does not show the pilots' faces. It does, however, show gujiyas, a fried dessert pastry that is typically eaten during the Hindu festival of Holi, and a dangerously placed cup of coffee.The coffee, which has no lid and shows the Indian budget airline SpiceJet's logo, is perched on the plane's thrust lever controls in the photo, causing outrage in the aviation community.Mohan Ranganathan, an aviation-safety expert who initially shared the photo, <a href="https://twitter.com/Mohan_Rngnathan/status/1635564186129534976?s=20">said on Twitter:</a> "The Central pedestal is not a table. Even the slightest turbulence and coffee/ spills on to the electronics, it will foul the systems. This is s CRIMINAL act."A retired pilot and former head of operations for an Indian airline, Shakti Lumba, <a href="https://edition.cnn.com/travel/article/india-spicejet-airlines-pilots-coffee-intl-hnk/index.html" target="_blank" rel="noopener">told CNN</a> that the "feel-good" photo opp was "totally inexplicable" behavior. "All pilots are aware of the dangers of spilled liquids in the cockpit," he said, per the media outlet.SpiceJet did not respond to Insider's request for comment, but the airline told <a href="https://www.thehindu.com/news/national/photo-of-coffee-cup-placed-dangerously-inside-cockpit-raises-eyebrows/article66620108.ece" target="_blank" rel="noopener">The Hindu</a> that it is trying to learn more details about the incident.A spokesperson for SpiceJet said in a statement provided to <a href="https://timesofindia.indiatimes.com/india/holi-celebration-goes-wrong-two-spicejet-pilots-grounded-for-keeping-beverage-on-centre-console-while-having-gujhiyas/articleshow/98667668.cms?from=mdr" target="_blank" rel="noopener">The Times of India</a> that both pilots have been taken off their roster pending an investigation."SpiceJet has a strict policy for consumption of food inside the cockpit which is adhered to by all flight crew," the spokesperson said, adding that disciplinary action would be taken after the investigation had concluded.The Directorate General of Civil Aviation, India's regulatory body that oversees aviation safety, is also looking into the incident, The Hindu reported.Indian aviation rules allow pilots to have food and drink in the cockpit but under strict guidelines, <a href="https://www.bbc.co.uk/news/world-asia-india-64948054">per BBC News</a>. For example, cups need to have lids to prevent potentially catastrophic spillages.According to CNN, spilling a hot drink on the central pedestal could cause technical equipment to overheat or, worse, trigger the entire system to shut down.

Two Indian pilots were grounded after a photo of coffee and snacks balanced dangerously on cockpit controls was shared on social media

<ul><li>Data analytics services company Latent View Analytics’ IPO will open on November 10 and close on November 12.</li><li>The company is looking to raise ₹600 crore through public listing.</li><li>The grey market premium of the company’s shares show over 100% i.e ₹210 per share.</li></ul>Data analytics services company Latent View Analytics initial public offering (IPO) is already seeking a lot of investor attention with its one of its kind business model and strong grey market premium. The IPO of the company will open on November 10 and close on November 12. Latent View Analytics is looking to raise ₹600 crore through the public listing of shares. The IPO comprises a fresh issue of ₹474 crore and an offer for sale of ₹126 crore by existing shareholders and promoters. The grey market premium of the company’s shares show about 106% premium, which is ₹210 per share, indicating a potential strong demand for the issue, according to <a href="https://www.livemint.com/market/ipo/latent-view-analytics-ipo-opens-this-week-gmp-important-dates-other-details-11636345582442.html">Mint</a>. Price band of the IPO is set at ₹190 to ₹197 per share. Investors applying for one lot of IPO may get 76 shares. The 15-year old company provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions. It provides services to blue-chip companies in technology, banking, financial services and insurance (BFSI), consumer packaged goods (CPG) companies and retail, industrials, and other industry domains. The company will utilise net proceeds from fresh issue of the IPO into inorganic growth initiatives, working capital requirements of subsidiary Latent View Analytics Corporation and investment in subsidiaries to augment the capital base. The company has a presence across countries in the United States, Europe, and Asia through their subsidiaries in the United States, Netherlands, Germany, United Kingdom, and Singapore, and their sales offices in San Jose, London, and Singapore. It gets 92% of its revenues from the US, 1.85% from UK, 1.41% from Netherlands and 3.86% from the rest of the world. <div type="image" title="latent view" height="900" width="1200" msid="87586000" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/spicejets-liquidity-turbulence-hits-worlds-largest-aircraft-leasing-companies/articleshow/87583233.cms">SpiceJet’s liquidity turbulence hits world’s largest aircraft leasing companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/five-tech-companies-make-up-for-almost-a-quarter-of-the-sp-500-market-cap/articleshow/87582324.cms">Five tech companies make up for almost a quarter of the S&amp;P 500 market cap</a>

Latent View Analytics IPO’s grey market indicates over 100% premium

<ul><li>Ripples effects of the Russia Ukraine war have ended up impacting currencies of emerging market countries.</li><li>Last week, the rupee touched its highest 79 against the US dollar despite the Reserve Bank of India constant efforts to keep it from falling further.</li><li>Experts believe the worst is yet to come as the <a href="https://www.businessinsider.in/finance/news/rupee-could-slide-to-82-as-a-strong-dollar-is-nullifying-rbi-efforts/articleshow/92543254.cms#:~:text=Rupee%20could%20slide%20to%2082%20as%20a%20strengthening%20dollar%20is%20nullifying%20RBI%20efforts,-Advertisement&amp;text=Rupee%20has%20fallen%205.9%25%20this,concerns%20sliding%20the%20rupee%20lower.">rupee is expected to fall further to 82</a>.</li></ul>While the sharp volatility in rupee movement has kept the market nervous, Finance Minister Nirmala Sitharaman feels Indian currency is relatively better placed than other global currencies against the greenback. "We are relatively better placed. We are not a closed economy. We are part of the globalized world. So, we will be impacted (by global developments)," the <a href="https://www.business-standard.com/article/economy-policy/rupee-relatively-better-placed-than-other-global-currencies-against-usd-fm-122063000615_1.html">finance minister said at an event</a>. As per data, INR’s fall is in the same lines as currencies of China, Thailand and Malaysia. While Philippine Peso and Korean Won performed worse, only Indonesia’s Rupiah performed better than India’s currency. China and others impacted in spite of current account surplus According to a Motilal Oswal report, these <keyword id="95133" type="General" weightage="20" keywordseo="asian-currencies" source="Orion">Asian currencies</keyword> were impacted in spite of a current account surplus and their central banks have not been as tight as India’s RBI in terms of their monetary policies. India became a victim of ‘imported inflation’ after the Russia Ukraine war changed the currency dynamics across nations, after hitting supply chains, food reserves and exim policies. “During a risk-off period, like the one we are currently in, the USD tends to strengthen, while emerging market currencies tend to weaken. Obviously, these sentiments will reflect in foreign capital flows as well. Lower capital inflows in EM economies during uncertain periods will affect their balance of payments (BOP), thus weakening their currency,” said the analyst at Motilal Oswal. Here’s how Indian currency fared compared to other Asian currencies: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">First half of 2022 </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;">Currencies against US dollar </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;">India’s Rupee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </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;">China’s Renminbi </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;">5-5.5% </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;">Malaysian Ringgit </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;">5-5.5% </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;">Thai Baht </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;">5-5.5% </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;">Philippine Peso </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;">8-9% </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;">Korean Won </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;">8-9% </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;">Indonesian Rupiah </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% </td></tr></tbody><tbody></tbody></table> Another year of intense pain The financial calendar has to change before the rupee value settles down, according to the Motilal Oswal report. In FY24, it predicts that the rupee to be around 77, indicating that there is pain in the near to long term. At the start of the year, the rupee was hovering around 74-75 to the USD and has been falling ever since – touching 79 and hovering around it, since. “A number of factors have led to the slide in INR – high crude oil prices, a widening merchandise trade deficit (and thus CAD), an expected deficit in the balance of payments (BOP), global uncertainty, among others,” added the report. Last week, the Rupee hit two new lows despite RBI’s efforts to keep it from falling further. Experts believe the worst is yet to come as the <a href="https://www.businessinsider.in/finance/news/rupee-could-slide-to-82-as-a-strong-dollar-is-nullifying-rbi-efforts/articleshow/92543254.cms#:~:text=Rupee%20could%20slide%20to%2082%20as%20a%20strengthening%20dollar%20is%20nullifying%20RBI%20efforts,-Advertisement&amp;text=Rupee%20has%20fallen%205.9%25%20this,concerns%20sliding%20the%20rupee%20lower.">rupee is expected to fall further to 82 </a>as FII sell off turns aggressive day by day. Much of it has to do with the rising crude oil prices – India’s largest import, foreign outflows from the Indian market which ate up liquidity and impacted the balance of payments. <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-1-5-lakh-crore-from-the-indian-markets-in-2022-so-far-heres-why/articleshow/91485411.cms">FIIs sucked out ₹.2.22 lakh crore </a>from the Indian markets including equity, debt and hybrid assets as compared to ₹50,000 crore inflows in 2021. All these factors will also affect the rate at which India is expected to grow. Especially after RBI’s aggressive interest rate hikes since May. It was more surprising that the central bank made no changes to its GDP forecast, in spite of the unexpected rate hikes, the report said. “Notwithstanding such sharp monetary tightening and rising concerns with regard to the global environment, what’s surprising is that RBI has kept its FY23 real GDP growth forecasts unchanged at 7.2% in its June 2022 monetary policy, same as market consensus. In contrast, we peg FY23 real GDP growth ~6.3%, slightly lower than the 6.4% projected earlier,” says the report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/uravu-labs-start-up-creates-green-water-out-of-thin-air-and-sells-it-at-4-per-liter/articleshow/92644758.cms">This start-up creates ‘green’ water out of thin air and sells it at ₹4 per liter</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spicejets-safety-is-not-the-only-problem-its-cancellations-and-complaints-are-high-too/articleshow/92647896.cms">SpiceJet’s safety is not the only problem, it’s cancellations and complaints are high too</a>

This Asian currency performed much better than Rupee, and it's not Renminbi, Baht or Ringgit

Seoul, <keyword id="6356116" type="UNKNOWN" weightage="20" keywordseo="LG">LG</keyword> Display, the world's leading large size OLED panel maker, said on Tuesday that its organic light-emitting diode (OLED) <keyword id="626264" type="PERSON" weightage="20" keywordseo="TV-panel">TV panel</keyword> has received an eye protection certification for low <keyword id="460269" type="PERSON" weightage="20" keywordseo="Blue-light">blue light</keyword> emission. Its <keyword id="675199" type="PERSON" weightage="20" keywordseo="OLED-display">OLED display</keyword> became the industry's first TV panel to win an accreditation from Eyesafe, a U.S.-based eye protection certification agency, according to LG Display. Eyesafe developed standards for eye protection in cooperation with TUV Rheinland AG, a German technical test service and certification organisation. It measures blue light, which can cause sore eyes and even sleep disorders when people are excessively exposed to it, reports Yonhap news agency. The certification requirements state that the proportion of harmful blue light out of a product's total blue light emissions must be less than 50 per cent. LG Display said its 65-inch <keyword id="880838" type="COMPANY" weightage="20" keywordseo="OLED-TV">OLED TV</keyword> panel meets the standards with the portion of harmful blue light standing at only 34 percent, the lowest among TV panels and about half of that of liquid crystal display (LCD) TV panels. Unlike LCD, OLED does not require a backlight unit since it uses self-lighting pixels. LG Display said it plans to showcase OLED display solutions that highlight protection to users' eyes and health at the <keyword id="362383" type="COMPANY" weightage="20" keywordseo="Consumer-Electronics-Show">Consumer Electronics Show</keyword> (CES) 2021 that will be held online next week. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-hdfc-tech-mahindra-lt-bajaj-finance-iifl-securities-sun-pharma-and-others/articleshow/80107597.cms">Top stocks to watch — HDFC, Tech Mahindra, L&amp;T, Bajaj Finance, IIFL Securities, Sun Pharma, and others</a> <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/india/news/bharat-biotech-sees-rivals-conspiracy-in-all-the-criticism-for-the-approval-for-covaxin/articleshow/80099818.cms">Bharat Biotech sees rivals’ conspiracy in all the criticism for the approval for Covaxin</a>

LG's OLED display becomes the first to receive an eye protection certification

The spectacular debut of <a href="http://www.businessinsider.in/searchresult.cms?query=indigo">IndiGo</a> , India's biggest airline by market share, on the bourses on Tuesday, not only reflected investor’s confidence in India’s potential as one of the world's fastest growing aviation markets but a possible resurgence of the primary market after a prolonged lull. This was despite a premium valuation at around $4 billion (it is twice as valued compared with the combined valuation of peers Jet Airways and SpiceJet). 
 
For a perspective, InterGlobe Aviation Ltd, which runs the carrier, raised $453.52 million last month through its initial public offering, which was the largest IPO since telecom tower firm Bharti Infratel Ltd raised $750 million in December 2012. 
 
IndiGo’s blockbuster market entry is a sharp contrast to the debut of Coffee Day Enterprises Ltd (that runs India’s largest cafe chain Cafe Coffee Day) as it struggled to sail through and revive hopes that the <a href="http://www.businessinsider.in/searchresult.cms?query=ipo+market">IPO market</a> in India is finally turning around. 
 
Last two years have been a dismal period for the primary market in the country, reflecting the lack of momentum that prevailed across the broader market prior to the Narendra Modi-led Indian government assumed power. 
 
The lacklustre history of the IPOs, launched in the last decade and underperformed, also proved to be a dampener for investors who have already been skeptical about the slow pace of structural reforms that are needed to revive market sentiments. 
 
Complex listing rules also pulled back companies from tapping the primary market to raise funds—till recently the IPO market was governed by archaic rules that have existed for decades. 
 In addition, companies, especially those in the booming technology sector, have been exploring alternative sources of finance. For example, while e-commerce major <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> raised more than $1billion from Private Equity investors over the last one year, its close competitor <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> raised close to $1billion. Ola, India’s leading taxi-hailing app, which raised roughly $650 million from Private Investors recently, is another example of next-generation technology-driven startups that are tapping the PE source of funding for growth. 
 
However, the prospects of the IPO market seem to be changing. More than a dozen companies have filed draft papers with markets regulator <a href="http://www.sebi.com/">SEBI</a> for public offers since the new government took charge at the Centre in May 2014. Besides, many companies, which scrapped their IPO plans earlier due to bad market conditions, have been keen to make another attempt to enter the capital markets. 
 
These translated in to a modest uptick in IPOs during 2015, after two years when the primary markets were almost dead. Though the money raised through IPOs this year is small compared with $8 billion raised in 2010, the last time Indian primary markets really took off. But, it is believed to be a trigger for more sizable IPOs going ahead. 
 
The renewed confidence of investors, especially FIIs, after the <a href="http://www.businessinsider.in/searchresult.cms?query=Modi">Modi</a> government took over contributed to the revival of the secondary market—where investors trade previously issued securities—which peaked over a year since BJP came to power and thus provided fodder for an uptick of the primary market as well. 
 
Of course, the markets are seeing a correction—bench market indices BSE Sensex and Nifty lost more than 10% over two months—driven by the slower growth numbers reported by China. 
 
However, India’s long-term story remains intact as it can turn China’s pain into its gain as an alternative investment destination for large FIIs. 
India continues to be among the most favoured by emerging market investors given the country's strengthening macro fundamentals. Though concerns over the economy as well as cultural tolerance have risen recently, they haven't hampered investor sentiment significantly. 
 
Also, as indicated by the government’s move on Tuesday to further relax FDI norms in over 15 sectors, including defence, realty and broadcasting, the policy initiative to bring in structural reforms is still well on track. Therefore, the chances of a continued revival of the primary market are bright. 
 
The IPO activity is expected to gain more momentum driven by the enhanced need for the companies to go beyond the Private Equity route to raise capital for growth and expansion. Many companies and investors are also turning to the IPO route as a preferred option for generating liquidity. 
 
The renewed interest in IPOs is also driven by private-equity backed firms which are capitalising on the positive market sentiment to provide an exit for their investors. 
 
According to Dealogic, Indian companies have raised around $1.03 billion via IPOs so far this year, well above the $282 million for all of last year and $295 million in 2013. More companies in sectors such as banking and financial services, technology, logistics and pharma are expected to tap primary markets in the near future. 
 
While size of the IPOs raised in India remain relatively small compared with those seen in the US or other Asian financial capitals such as Hong Kong and Tokyo, the uptick in the primary market proves that activity seen by the secondary markets after May 2014 is not just an aberration and strengthens India’s status as a preferred investment destination amid shades of gloom elsewhere, including China. 
 
(Image: Thinkstock)

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