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OpenAI is set to roll out a new premium subscription service called ChatGPT Pro, tailored for users seeking cutting-edge AI capabilities. Priced at $200 (approximately Rs 17,000) per month, the subscription will offer exclusive access to advanced tools, including unlimited use of OpenAI’s o1 model, GPT-4o, and a new <keyword id="23539067" type="General" weightage="20" keywordseo="Advanced-Voice-Mode" source="keywords">Advanced Voice Mode</keyword>. <h2>About ChatGPT Pro </h2> A standout feature of the Pro subscription is the o1 Pro Mode, which leverages enhanced computational power to tackle complex challenges in areas like coding, mathematics, and science. This mode is designed to deliver superior reasoning and solutions compared to earlier versions. OpenAI will continue offering its <keyword id="19973106" type="General" weightage="20" keywordseo="ChatGPT-Plus" source="keywords">ChatGPT Plus</keyword> subscription tier at $20 (around Rs 1,700) per month. While Plus users will gain access to all existing models and early feature previews, the advanced o1 version remains exclusive to Pro subscribers. In tandem with the Pro release, OpenAI has announced the official launch of its o1 model, replacing the limited o1-preview introduced in September under the code name “Strawberry.” The stable o1 model is available immediately for ChatGPT Plus and Team users, with Enterprise and Edu customers to follow next week. The o1 model boasts notable advancements, including the ability to solve complex, multistep problems and generate more precise code. Additionally, it can now analyse and interpret images, marking a significant leap in its capabilities. OpenAI has focused on improving response speed and accuracy, particularly for coding and mathematical tasks, while ensuring concise and efficient outputs for an enhanced user experience. <h2>Ads in ChatGPT: A possibility? </h2> Speculation around OpenAI introducing advertisements to ChatGPT is gaining traction following comments from the company’s CFO, Sarah Friar. Speaking in an interview with the Financial Express, Friar mentioned that while OpenAI is exploring alternative revenue streams, advertisements are not yet in active planning. However, reports suggest that OpenAI is hiring advertising professionals from major tech firms like Meta and Google, hinting at a potential shift towards integrating ads in the future. The move aligns with OpenAI’s transition to a for-profit model and its foray into the online search market with an AI-powered search engine designed to compete with Google.

OpenAI unveils premium ChatGPT Pro subscription with advanced features

<ul><li><keyword id="19925254" type="General" weightage="100" keywordseo="YouTube" source="keywords" meta.keywordsubtype="org" meta.entityname="YouTube" meta.hostid="261" meta.entityid="YouTube">YouTube</keyword> is testing a new subscription tier called <keyword id="23629619" type="General" weightage="20" keywordseo="YouTube-Premium-Lite" source="keywords">YouTube Premium Lite</keyword></li><li>The <keyword id="23644277" type="General" weightage="20" keywordseo="Premium-Lite-plan" source="keywords">Premium Lite plan</keyword> could cost $8.99 per month</li><li>However, it comes with limitations</li></ul> Be it listening to a new song, watching a web-series, searching about a new topic or just casually browsing, YouTube is the go-to app for many users. Earlier this year, a report by Axios had said that Gen-Z is turning towards YouTube and TikTok for research purposes instead of Google. But there's one thing about YouTube that at times leads to frustration - ads. Even though these ads help content creators in making money, users aren't really fond of them. The video platform, addressing such concerns, had launched <keyword id="20184157" type="General" weightage="20" keywordseo="YouTube-Premium" source="keywords">YouTube premium</keyword> back in 2014. This is a premium service that results in many benefits for users at a price - including enjoying ad-free videos. Just recently, the prices of YouTube Premium saw a rise, raising a few eyebrows. Now, if you don't want to pay YouTube Premium fee but still want to get rid of (at least some) ads, there's good news for you. The company might just be working on a new subscription tier that could cost half the price of YouTube Premium and get rid of some ads. <h2>YouTube Premium Lite in works? </h2> According to a report in The Verge, YouTube is testing a new subscription tier called YouTube Premium Lite, offering users a more affordable way to enjoy the platform with fewer interruptions. The Premium Lite plan could cost $8.99 per month, nearly 50% cheaper than the regular Premium subscription, which is priced at $16.99. However, it comes with limitations, including fewer ad-free features and restricted access to <keyword id="19912392" type="General" weightage="20" keywordseo="YouTube-Music" source="keywords">YouTube Music</keyword> and background play. Currently being tested in select markets like Germany, Thailand, and Australia, YouTube Premium Lite aims to strike a balance for users who want an ad-reduced experience without paying for the full Premium perks. While it provides an ad-free experience for most videos, ads will still appear in music and short-form content. <h2>The Indian scenario </h2> As of now, it’s unclear if YouTube will offer an annual subscription option for Premium Lite or whether it will launch in India. If introduced in India, the service could cost around Rs 75, as per an Indian Express report, which is a significant drop from the Rs 149 charged for the full Premium plan. With this new tier, YouTube seems to be hoping to attract users who want fewer ads but don’t require features like offline downloads or YouTube Music’s ad-free experience. YouTube previously tested a similar subscription in 2021 across Europe, but the service was discontinued before it could officially roll out. Whether Premium Lite will prove to be a long-term addition remains to be seen, but it offers an intriguing middle ground for users looking to pay less while enjoying fewer ad interruptions. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/meta-ai-will-be-able-to-remember-your-whatsapp-chat-with-a-new-feature-know-all-about-it/articleshow/114424676.cms" data-type="tilCustomLink" target="_blank">Meta AI will be able to remember your WhatsApp chat with a new feature, know all about it</a> <a href="https://www.businessinsider.in/tech/news/adobe-collaborates-with-coursera-and-others-to-help-people-develop-ai-skills-announces-new-ai-powered-marketing-tool/articleshow/114268779.cms" data-type="tilCustomLink" target="_blank">Adobe collaborates with Coursera and others to help people develop AI skills, announces new AI-powered marketing tool</a>

YouTube might bring cheaper Premium Lite subscription with fewer ads, all details

With the first day of Navratri today (October 3), the festive season in India has officially begun. Each year, various platforms offer intriguing offers around this time and this year is no different. Apple also has some special offers in store for its Indian fans and has kick-started its Diwali 2024 sale today. If you have been thinking to buy the new iPhone or wish to get your hands on the latest <keyword id="19900628" type="General" weightage="20" keywordseo="macbook" source="keywords">MacBook</keyword>, now might be the time. There are a lot of options to choose from and you can enjoy savings across Apple's premium product lineup. Among the key highlights is an instant cashback of up to ₹10,000, available on a wide range of Apple products. For those with American Express, Axis Bank, or ICICI Bank cards, this cashback can be availed instantly at checkout. Furthermore, customers can spread their payments with up to 12 months of No Cost EMI, making the purchase of Apple’s high-end devices even more manageable. <h2>iPhone Deals </h2> The iPhone range is one of the sale’s main attractions. Customers opting for the iPhone 16 Pro or iPhone 16 Pro Max can enjoy an instant cashback of ₹5,000. Similarly, those choosing the iPhone 16 or the iPhone 16 Plus will benefit from the same ₹5,000 discount. For individuals looking for a slightly more affordable option, the iPhone 14 and iPhone 14 Plus come with ₹3,000 cashback, while the iPhone SE offers ₹2,000 off. <h2>MacBook and Mac Discounts </h2> Apple’s MacBook line-up also sees attractive discounts. The latest MacBook Air models, featuring the M3 chip in both 13-inch and 15-inch versions, are available with a cashback of ₹10,000. If you’re looking at the earlier MacBook Air (M2 chip), you can save ₹8,000 instantly. Larger purchases such as the MacBook Pro (14-inch and 16-inch), the Mac Studio, and the iMac 24-inch all come with an appealing ₹10,000 cashback. Meanwhile, the Mac mini is available with a ₹4,000 discount. <h2>iPad Offers </h2> For tablet users, Apple’s iPad range also includes some enticing offers. The iPad Pro, available in 11-inch and 13-inch sizes, provides a cashback of ₹6,000. The iPad Air, also available in 11-inch and 13-inch sizes, offers a ₹4,000 instant discount. Buyers of the standard iPad can benefit from ₹2,500 cashback, while the compact iPad mini is on offer with ₹3,000 cashback. <h2>AirPods Promotions </h2> Fans of Apple’s audio products are not left out, as the AirPods range sees notable discounts too. The AirPods Pro are available with ₹2,000 cashback, while the AirPods 4 offer ₹1,500 off. For those opting for the AirPods 4 with Active Noise Cancellation, there’s a ₹1,500 instant discount. Meanwhile, Apple’s premium AirPods Max headphones are being sold with a significant ₹4,000 cashback. <h2>Free Beats Solo Buds </h2> Apart from cashback, Apple is also giving away Beats Solo Buds for free. If you purchase an iPhone 15 from an Apple store, you can get your hands on the buds at no cost. However, this offer is only valid till tomorrow (October 4) so you better hurry. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">More savings with Apple's trade-in programme </h2> Adding to the appeal, Apple’s Trade-In programme allows users to exchange their old devices for a discount on their new purchases. This, coupled with the cashback, makes for a compelling offer for those planning an upgrade. Additionally, with select purchases, Apple is providing three months of Apple Music, Apple TV+, and Apple Arcade subscriptions at no extra cost. With these offers, Apple’s Diwali Sale 2024 provides an excellent chance for customers to grab their desired devices at a lower price point. Whether you're upgrading or looking for gifts, this limited-time sale brings significant value, especially with the combined benefits of cashback, EMI options, and trade-in deals. For more information, you can head to Apple’s official website.

Apple Diwali sale in India goes live: iPhones, Macbooks and Airpods get discounts

Food delivery and quick-commerce behemoth Swiggy's initial public offering (IPO) closes for subscription today. The issue has already been subscribed about 213% as of 1:35 pm today. The offer garnered massive interest from QIB (qualified institutional buyers), who subscribed 3.46x to it, bidding for 30,09,09,954 shares as against 8,69,23,475 shares allotted for them. The company will tentatively list on both BSE and NSE on November 13, 2024. Swiggy's employees also gave the IPO a thumbs-up, subscribing 1.42x to the offer. Around 7,50,000 shares were reserved for employees in the IPO, at a discount of Rs 25 to the issue price. On the other hand, retail investors subscribed to 99% of their potion. At the same time, the NII (non-institutional category) fetched a muted response, with investors subscribing to only 25% of shares in their category. <h2>Dull GMP</h2> Pre-IPO, Swiggy had also lapped up Rs 5,085 crore from anchor investors. With a price band of Rs 371-390, the company is looking to raise Rs 11,327 crore from the IPO. Out of this, the fresh issue component is worth Rs 4,499 crore, and the offer for sale (OFS) is Rs 6,828 crore. Investors can expect dampened listing day gains, going by the trends in the GMP (grey market premium) market. The company's last-traded GMP was at a mere Rs 1, taking the estimated listing price to Rs 391 (upper end of the price band at Rs 390 + GMP), which means that the potential gain per share would be a minuscule 0.26%. Per InCred Equities, the IPO can be subscribed to since the company has favorable scale and potential to tap in long-term opportunities. Quick commerce provides growth runaway, while the food delivery vertical has the potential to improve the margin and cash flow going ahead. Per the company's Q1FY25 earnings report, it generates 47% of revenue from the food delivery business and 39% from its supply chain and distribution business (operated via Scootsy Logistics Private Limited). About 12% of the company's revenue comes from its quick commerce wing i.e. Instamart, while Dineout (eating out) and platform innovations make up about 1% each of the revenue. "Swiggy’s IPO price band implies 1) EV/revenue multiple of ~6.5x, 2) EV/GOV of ~2.1x, and 3) a P/S of ~6.7x based on annualized FY25F financials. The valuation is at a discount to Zomato, which trades at an EV/revenue multiple of ~11.3x, an EV/GOV of ~3.2x (annualized), and a P/S of ~11.4x based on FY25F consensus estimates. Internal controls, as reflected in the auditor’s qualified opinion, and increased competitive intensity are the key downside risks, in our view," InCred further adds. Notably, in FY23 and FY24, auditors raised concerns over loans given to subsidiaries, namely Supr Infotech and Scootsy which may impact Swiggy's overall financial stability. Some of the qualifications highlighted by the auditors include potential impairment, interest payment delay, and using new loans to cover interest costs.

Swiggy IPO subscribed to 2.13 times on last day of the offer

The IPO of ACME Solar, which opened for subscription yesterday, has been subscribed 1.81x in the retail investors category and 0.6x overall. The offer, worth Rs 2,900 crore, is a combination of Rs 2,395 crore of fresh issue and Rs 505 crore worth of OFS (offer for sale). With a price band of Rs 275-289, the IPO will close for subscription tomorrow. Retail investors can invest in a minimum of 1 lot of 51 shares, bringing the total amount to Rs 14,739. The company is set to list on both NSE and BSE on November 13, 2024. Despite the company's strong presence in the renewable energy space, the company's GMP (grey market premium) remains muted, almost negligible, trading at Rs 0 today. ACME's GMP has been dipping ever since November 30, 2024, when it stood at Rs 30. The allotment of shares is scheduled for November 11, 2024, with a tentative listing date on the BSE and NSE set for November 13, 2024. The company amassed Rs 1,300.5 crore via the issue of 4.5 crore equity shares from anchor investors ahead of its IPO. Around 1.5 crore equity shares, or about 33.4% of the total anchor book, were lapped up by 8 domestic mutual fund houses through a total of 17 schemes. <h2>About the company </h2>ACME Solar is one of India's top 10 renewable energy-independent power producers. To date, the company has developed a total of 2,719 MW of solar power projects. In terms of financial performance, over the last three fiscal years, the company has reported (on a consolidated basis) a total income of Rs 1,562.73 crore in FY22, Rs 1,361.67 crore in FY23, and Rs 1,466.27 crore in FY24. In terms of net profit/loss, ACME Solar incurred a net profit of Rs 62.01 crore in FY22, a loss of Rs 3.15 crore in FY23, and Rs 697.78 crore in FY24. For the first quarter of FY25, the company's revenue from operations stood at Rs 340.01 crore, while earning a net profit of Rs 1.39 crore. The company intends to utilize the IPO proceeds to repay and prepay part of its outstanding borrowings, and also for general corporate purposes. However, the company is not without its fair share of risks. Around 63.22% of its FY24 revenue is concentrated in just three Indian states—Andhra Pradesh, Rajasthan, and Telangana. Also, the company's business is highly dependent on its top 10 off-takers, which contributed 95.42% to its revenue as of the quarter ended June 30, 2024, 87.48% to its revenue in FY23, and 81.11% to the company's income in FY22. The loss of any of these off-takers can have adverse effects on their business, financial condition, results of operations, and cash flows. Moreover, not only does its growth depend on winning highly competitive project bids, but it is also highly reliant on government-owned transmission grids and infrastructure. <h2>Should you subscribe? </h2>Per Bajaj Broking, the issue appears to be aggressively priced, yet they would recommend subscribing to the IPO for the long term. "Over the past three fiscal years, the company has achieved an average EPS of Rs. 6.44 and an average RoNW of 13.95%. The issue is priced at a P/BV of 7.77 based on its NAV of Rs 37.19 as of June 30, 2024. When annualizing FY25 earnings to the post-IPO fully diluted equity base, the asking price results in a P/E of 3211.11, while based on FY24 earnings, the P/E stands at 25.06". However, there are financial concerns that cannot be ignored. "FY24 appears to be an exceptional year with significantly boosted profits, but otherwise, the company has shown inconsistent top and bottom lines over the reported periods. Its debt-equity ratio of 3.89 as of June 30, 2024, is notably high and raises concerns," it adds. According to Anand Rathi Research, the IPO can be subscribed to in the long run. "At the upper price band, the company is valued at a P/E of 30.17x, with an EV/EBITDA of 22.4x and a market cap of Rs 1,74,868 million post-issue of equity shares and a return on net worth of 26.93%. We believe that the IPO is richly priced," adds the note.

ACME Solar IPO: Should you subscribe? Here's all you need to know

The IPO (initial public offer) of food and grocery delivery behemoth Swiggy is set to open tomorrow and conclude on November 8, 2024. The entire issue is worth Rs 11,327.43 crore and has a fresh issue component of Rs 4,499 crore and an OFS (offer for sale) of about Rs 6,828.43 crore. With a price band of Rs 371-390, retail investors will be required to invest a minimum of Rs 14,820 to get their hands on Swiggy's shares. Swiggy, which will tentatively list on the bourses on November 13, 2024, is seeking to raise Rs 1,952.43 crore more than its rival <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, which went public in July 2021 and was looking to raise Rs 9,375 crore. Zomato's offer was oversubscribed around 38.25 times, with retail investors subscribing 7.45x to the issue. Notably, only around 15% of Swiggy's total issue will be made available to retail investors. Moreover, Swiggy's IPO is not garnering the same buzz if its present GMP (<keyword id="938640" type="General" weightage="20" keywordseo="grey-market-premium" source="Orion">grey market premium</keyword>) trends are to be believed. The company's last traded GMP was Rs 7, taking its estimated listing price to Rs 397 (upper end of its price band, i.e., Rs 390 + Rs 7), and its potential listing gains per share at a minimal 1.79%. Last week, Swiggy's GMP was at Rs 25, before tumbling to Rs 18, and then momentarily stabilizing at Rs 22 before its steep fall to present levels of Rs 7. <h2>Strengths and weaknesses</h2> Since its inception in 2014, Swiggy's bottom line has been in red, unlike that of its rival Zomato, which turned profitable in the first quarter of FY24. In FY22, its total income was Rs. 6119.78 crore with a net loss of Rs. 3628.90 crore. While the company's total income increased to Rs. 8714.45 crore in FY23, it also spelled a corresponding rise in its net losses, which surged to Rs. 4179.31 crore. The trend varied a little in FY24 when Swiggy's total income rose to Rs 11,634.35 crore while its net loss reduced to Rs. 2,350.24 crore. However, in the first quarter of FY25, ending June 30, 2024, the company's total income stood at Rs 3,310.11 crore and a net loss of Rs. 611.01 crore. While Swiggy did achieve 42.4% revenue growth between FY2022-223, most of its revenue is sourced from the top 50 of the 500 Indian cities it is currently operational in. Even in this regard, Zomato, which operates in around 1,000 cities across India, has an edge. <h2>Some say invest, some say avoid</h2> Some experts are advising against subscribing to this IPO. Per SAMCO Securities, "As of FY 2024, Swiggy Limited continues to operate at a loss, in contrast to its competitor, Zomato Limited, which has recently achieved profitability. Given Swiggy’s current financial position, competitive pressures, associated risks, and valuation, its IPO appears overvalued. Therefore, investors should avoid this IPO until the company’s financial performance and growth outlook improve. Waiting until Swiggy demonstrates improved financial results and a clearer path to sustainable growth would be a more prudent investment approach. Per Bajaj Broking's IPO note, Swiggy's IPO can be subscribed to from a long-term perspective. However, it also highlights that Swiggy's offer document is missing PAT (profit after tax) and RoCE (returns on capital employed) data. "For the last three fiscals, the company has reported an average EPS of Rs - (14.90) and an average RoNW of - (35.39%). The issue is priced at a P/BV of 11.60 based on its NAV of Rs. 33.61 as of June 30, 2024, and is at a P/BV of 7.31 based on its post-IPO NAV of Rs. 53.36 per share (at upper cap). If we attribute annualized FY25 earnings to a post-IPO fully diluted equity base, then the asking price is at a negative P/E, and based on FY24 earnings also, it is at a negative P/E, as the company has posted losses for those periods. On other parameters, the issue appears aggressively priced," it further adds. Gaurav Garg, research analyst at Lemonn Markets Desk, notes that it might take some time for Swiggy to reach Zomato's level, both in terms of valuation and AOV (average order value). Swiggy's valuation has been pegged at about Rs 95,000 crore, at the upper price band, while Zomato has a market valuation of Rs 2.13 lakh crore. "Almost 50% valuation compared to Zomato gives some comfort, although it should not be considered an arbitrage in valuation. If Swiggy’s EBITDA catches up to 3-4% in the food delivery business, which is currently at 1%, and Average Order Value (AOV) improves to Rs. 550-600 levels in quick commerce with a higher non-grocery share, we can see bridging in the valuation gap. However, this should not be expected in the near term," he adds.

Swiggy's IPO set to open tomorrow. Should you subscribe?

<ul><li>Garuda Construction is expected to announce its IPO share allotment status on Friday, October 11.</li><li>The shares of Garuda Construction were subscribed 7.55 times.</li><li>The <keyword id="23503648" type="General" weightage="20" keywordseo="Garuda-Construction-shares" source="keywords">Garuda Construction shares</keyword> are expected to be listed on the stock exchanges on October 15.</li></ul>Mumbai-based Garuda Construction and Engineering, a construction company that provides construction services for residential, commercial, infrastructure, and industrial projects is expected to announce the allotment status of its initial public offering (IPO) on Friday, October 11. The <keyword id="21822339" type="General" weightage="20" keywordseo="Garuda-Construction-IPO" source="Orion">Garuda Construction IPO</keyword> opened on October 8 and closed on October 10. The price band for the Garuda Construction IPO was ₹90 to ₹95 per share. <h2><keyword id="23468758" type="General" weightage="20" keywordseo="Garuda-Construction-IPO-subscription" source="Orion">Garuda Construction IPO subscription</keyword> status</h2>On its last day, the Garuda Construction IPO was subscribed 7.55 times, receiving bids for 15.03 crore equity shares against 1.99 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 1.24 times, the non-institutional investor's portion was subscribed 9.03 times. The retail portion also witnessed decent participation and was subscribed 10.81 times. <h2>Garuda Construction IPO Grey market premium</h2>The shares of Garuda Construction are currently commanding a grey market premium (GMP) of ₹5 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check the Garuda Construction IPO’s allotment status</h2>You can check the <keyword id="23503647" type="General" weightage="100" keywordseo="Garuda-Construction-IPO-allotment" source="Orion">Garuda Construction IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Garuda Construction IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Garuda Construction’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your Garuda Construction IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Garuda Construction IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Garuda Construction’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of Garuda Construction shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Garuda Construction IPO allotment status on NSE. <h2>Garuda Construction IPO listing date</h2>The shares of Garuda Construction will be listed on the stock exchanges on October 15. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

Garuda Construction IPO allotment – How to check allotment, IPO GMP, listing date and more

On the second day of offer, the IPO (initial public offer) of <keyword id="21031841" type="General" weightage="20" keywordseo="Shapoorji-Pallonji-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Shapoorji Pallonji Group" meta.hostid="261" meta.entityid="Shapoorji Pallonji Group">Shapoorji Pallonji Group</keyword>'s flagship <keyword id="21118098" type="General" weightage="20" keywordseo="construction-company" source="keywords">construction company</keyword>, <keyword id="23715057" type="General" weightage="20" keywordseo="Afcons-Infrastructure-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="Afcons Infrastructure Limited" meta.hostid="261" meta.entityid="Afcons Infrastructure Limited">Afcons Infrastructure Limited</keyword>, was subscribed to around 0.28 times. As of 1 pm today, investors had bid for only 1,71,49,632 shares as against the 6,13,13,722 shares on offer. The Rs 5,430 crore worth of IPO, which includes a fresh issue of Rs 1,250 crore and an OFS (offer for sale) worth Rs 4,180 crore, closes for subscription tomorrow. The company is set to list on BSE and NSE next month, on November 4, 2024. With a price band of Rs 440 to Rs 463 per share, the company's last traded GMP (<keyword id="19905703" type="General" weightage="20" keywordseo="grey-market-premium" source="keywords">grey market premium</keyword>) stood at Rs 23. This means that the investors are expecting the stock to list at around Rs 486 (upper end of price band, i.e., Rs 463+ GMP of Rs 23), which will translate into a potential listing gain of around 4.97% per share. Globally, Afcons has undertaken multiple "first of its kind" <keyword id="19936648" type="General" weightage="20" keywordseo="infrastructure-projects" source="keywords">infrastructure projects</keyword>, like building Zambia's first flyovers and Ghana's largest rail project. Additionally, the company, which was incorporated in 1969, has a legacy of around 60 years. Some of their prominent projects in India include: <ul><li>Chenab Bridge in Jammu and Kashmir, which was completed in 2023. It is the tallest single-arch railway bridge in the world.</li><li>The Atal Tunnel in Himachal Pradesh, the world's longest highway tunnel constructed 3,000 meters above sea level, was completed in 2020.</li><li>Kolkata Metro, a part of which will be underwater, and will also include India's deepest metro station at Howrah.</li><li>Afcons is also working on constructing a 21-kilometer-long tunnel for Mumbai-Ahmedabad High Speed Railway, which will comprise a 7-kilometer-long underseas rail tunnel, a first in India.</li></ul> <h2>Steady Financials</h2> The company has a sturdy order book, standing at Rs 31,747.43 crore as of June 30, 2024. Its revenue from operations also surged from Rs 12,637.38 crore in FY23 to Rs 13,267.50 crore in FY24. On an average, around 30% of its revenues are sourced from exports. The company's PAT (profit after tax) jumped from Rs 418.86 crore in FY23 to Rs 449.74 crore in FY24. For the quarter ended June 30, 2024, the company's revenue from operations stood at Rs 3,154.36 crore, and profit after tax stood at Rs 91.59 crore. As of the second quarter of FY25, the company has 65 ongoing projects across 12 countries. Compared to its peers like Larsen and Toubro, which has a return on net worth (RoNW) of 15.24% and Kalpataru Project International, whose RoNW stands at 10.17%, Afcons has an RoNW of 15.24%. Anand Rathi Research recommends subscribing to this IPO from a long-term perspective, noting that the issue appears fully priced. "At the upper band, the company is valued at 37.9x its FY24 earnings, along with being valued at 46.3x if we annualize FY25 earnings. Following the issuance of equity shares, the company's <keyword id="19930507" type="General" weightage="20" keywordseo="market-capitalization" source="keywords">market capitalization</keyword> stands at Rs 1,70,261.8 million, with a market cap-to-sales ratio of 1.34 based on its FY24 earnings. We believe that the issue is fully priced and recommend "Subscribe-Long-term” rating to the IPO, it adds.

Afcons Infrastructure IPO: Offer subscribed to 0.28x on day 2. Should you invest?

<ul><li><keyword id="23568743" type="General" weightage="20" keywordseo="Deepak-Builders" source="keywords" meta.keywordsubtype="org" meta.entityname="Deepak Builders" meta.hostid="261" meta.entityid="Deepak Builders">Deepak Builders</keyword> is expected to announce its share allotment status on Thursday, October 24.</li><li>The shares of Deepak Builders were subscribed 41.54 times.</li><li>The shares are expected to be listed on the stock exchanges on October 28.</li></ul> Delhi-based Deepak Builders, a construction company that specialises in building hospitals, and administrative, institutional and industrial buildings is expected to announce the allotment status of its initial public offering (IPO) on Thursday, October 24. The <keyword id="23572043" type="General" weightage="20" keywordseo="Deepak-Builders-IPO" source="Orion">Deepak Builders IPO</keyword> opened on October 21 and closed on October 23. The price band for the IPO was ₹192 to ₹203 per share. <h2><keyword id="23665646" type="General" weightage="20" keywordseo="Deepak-Builders-IPO-subscription" source="Orion">Deepak Builders IPO subscription</keyword></h2>On its last day, the Deepak Builders IPO was subscribed 41.54 times, receiving bids for 37.25 crore equity shares against 89.67 lakh shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 13.91 times, the non-institutional investor's portion was subscribed 82.47 times. The retail portion witnessed good participation and was subscribed 39.79 times. <h2>Deepak Builders <keyword id="19905703" type="General" weightage="20" keywordseo="grey-market-premium" source="keywords">grey market premium</keyword></h2>The shares of Deepak Builders are currently commanding a grey market premium (GMP) of ₹60 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check Deepak Builders’ <keyword id="20660173" type="General" weightage="20" keywordseo="IPO-allotment" source="keywords">IPO allotment</keyword> status</h2>You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="23665644" type="General" weightage="20" keywordseo="Deepak-Builders-IPO-allotment" source="Orion">Deepak Builders IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>. </li><li>Click on ‘Company Selection’ and then select ‘Deepak Builders’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on ‘Search’. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Deepak Builders IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Deepak Builders’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <h2>Deepak Builders listing date</h2>The shares of Deepak Builders will be listed on the stock exchanges on October 28. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more

<ul><li><keyword id="1941007" type="General" weightage="20" keywordseo="Waaree-Energies" source="Orion">Waaree Energies</keyword> is expected to announce its IPO share allotment status on Thursday, October 24.</li><li>The shares of Waaree Energies were subscribed 76.34 times.</li><li>The Waaree Energies shares are expected to be listed on the stock exchanges on October 28.</li></ul>Mumbai-based Waaree Energies, a manufacturer of solar PV modules is expected to announce the allotment status of its initial public offering (IPO) on Thursday, October 24. The <keyword id="12201442" type="General" weightage="20" keywordseo="Waaree-Energies-ipo" source="Orion">Waaree Energies IPO</keyword> opened on October 21 and closed on October 23. The price band for the Waaree Energies IPO was ₹1,427 to ₹1,503 per share. <h2><keyword id="23597813" type="General" weightage="20" keywordseo="Waaree-Energies-ipo-subscription" source="Orion">Waaree Energies IPO subscription</keyword> status</h2>On its last day, the Waaree Energies IPO was subscribed 76.34 times, receiving bids for 160.92 crore equity shares against 2.11 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 208.63 times, the non-institutional investor's portion was subscribed 62.48 times. The retail portion also witnessed good participation and was subscribed 10.79 times. The employee portion was subscribed 5.17 times. <h2>Waaree Energies <keyword id="22158953" type="General" weightage="20" keywordseo="IPO-GMP" source="keywords">IPO GMP</keyword></h2>The shares of Waaree Energies are currently commanding a grey market premium (GMP) of ₹1,375 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check the Waaree Energies IPO’s allotment status</h2>You can check the Waaree Energies <keyword id="20660173" type="General" weightage="20" keywordseo="IPO-allotment" source="keywords">IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Waaree Energies IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Waaree Energies’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your Waaree Energies IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Waaree Energies IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Waaree Energies’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of Waaree Energies shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Waaree Energies IPO allotment status on NSE. <h2>Waaree Energies IPO listing date</h2>The shares of Waaree Energies will be listed on the stock exchanges on October 28. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a>

Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more

The Rs 260.04 crore IPO of <keyword id="23568743" type="General" weightage="20" keywordseo="Deepak-Builders" source="keywords">Deepak Builders</keyword> and Engineers, which went live yesterday, received a thumping response from <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>, who oversubscribed to the issue by 16x. In effect, retail investors bid for 7,20,24,282 shares as opposed to 44,83,500 shares, or 35% of the issue that is reserved for them. The issue, worth Rs 260.04 crore, is a combination of a fresh issue of about Rs 217.21 crore and an OFS (offer for sale) of Rs 42.83 crore. With a price band of Rs 192-203, the company will list on the bourses on Monday, October 28, 2024, with allotment finalization happening on Thursday, October 24, 2024. Retail investors can bid for a minimum of 1 lot, which consists of 73 shares. The minimum required investment to participate in this IPO is Rs 14,819, while the maximum is Rs 1,92,647. The company's last traded GMP (grey market premium) today was Rs 61. This takes its estimated listing price to Rs 264, and the expected listing gains at 30.05% per share. <h2>Should you invest?</h2> The company has a strong presence in northern India, with multiple projects across Punjab, Haryana, Rajasthan, Uttarakhand, Chandigarh, and Delhi. The company currently oversees twelve ongoing projects, including seven EPC (Engineering, Procurement, and Construction) projects and five contracts based on item or percentage rates. As of June 30, 2024, the company’s <keyword id="20162999" type="General" weightage="20" keywordseo="order-book" source="keywords">order book</keyword> totals Rs 13,803.89 million for FY 2024, up from Rs 11,126.88 million for FY23. The company's revenue from operations also went up from Rs 3,630.52 million in FY22 to Rs 5,114.02 million in FY24. Consequently, its PAT (profit after tax) jumped to Rs 604.1 million in FY24, up from Rs 213.95 million in FY23 and Rs 176.79 million in FY22. Its EPS (earnings per share), considered a reliable measure of profitability, also inched up substantially from 4.92 in FY22 to 16.84 in FY24. Per the company's prospectus, proceeds from the IPO will be used to repay borrowings, meet working capital requirements, and for other general corporate purposes. Financial analysts have recommended subscribing to the IPO for long-term investment, citing the company's steady <keyword id="20748625" type="General" weightage="20" keywordseo="financial-growth" source="keywords">financial growth</keyword> over the past few years. However, the issue is not without its share of risks. For instance, most of the company's projects are concentrated in Punjab. As of June 30, 2024, about 33.02% of the company's revenue from operations came from Punjab-based projects. Moreover, the company's finances have seen meteoric growth over the past few years, raising questions about its sustained continuity. While its EBITDA margin increased from 12.20% in FY 2023 to 22.98% in FY 2024 and 29.92% during the three-month period ended June 30, 2024. Similarly, their profit after tax margin increased from 4.94% in FY2023 to 11.81% in FY 2024 and 13.52% during the three-month period ended June 30, 2024. It Despite these concerns, Bajaj Broking and Anand Rathi's research both recommended subscribing to this IPO. "The company has a diversified project portfolio, which reduces its reliance on a single market segment. As of June 2024, the company has some litigations towards projects amounting to Rs 884 million (6% of the total order book). We believe that the liability of this should not impact the going concern of the company's profitability. With a strong order book, Deepak Builders has growth potential visibility in the infrastructure sector, which aligns them with government initiatives. At the upper price band, the company is valued at a P/E of 15.6x with a market cap of Rs 9,455 million post-issue of equity shares and a return on net worth of 52.9%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a “SUBSCRIBE” rating to the IPO," noted Anand Rathi.

Deepak Builders & Engineers IPO closes for subscription tomorrow. Here's all you need to know

Doug Mattison just wanted to cancel his gym membership.The 59-year-old could no longer afford the monthly fee, so a year after he signed up, he went back to the gym's website to cancel it. But it didn't have an option for members to cancel online, so he called the gym and was told he had to come in person. So he went to the gym, but even then he couldn't cancel — he recalls the employees telling him that they didn't "have the ability to stop it or do anything on it" because only his gym's parent company was authorized to cancel his membership. "In the meantime," he says, "they're still charging my account."Mattison, who lives in Ohio, said the whole reason he chose this gym was that it didn't have a binding contract — he assumed that when he no longer wanted to pay for a membership, he'd be able to get out of it. After the parent company's customer-service reps told him they couldn't assist him online or over the phone and did not offer him an alternate route, Mattison reached out to his bank, which ultimately canceled the card he'd used to pay for the membership and told him plenty of customers had trouble getting out of similar services."The bank even said that they see this happening a lot," Mattison said, referring to customers having trouble with cancellations. "They said the good news was that I only gave them a card number instead of my actual account number. Then it's a lot more hassle."While Mattison was glad to have found a solution, it took three months to get free. He described it as "the worst experience I've ever had with any type of membership." And he's not alone — companies have gotten increasingly savvy at trapping customers in what are known as "dark patterns," drawing them in with a shiny new product or discounted subscription that ends up being burdensome to get out of. The tactics companies use to keep people on the treadmill of recurring charges can range from slick, attractive product design to deceptive fraud. And in a world where people seldom read the fine print, consumers don't have much recourse when they find they can't cancel something they no longer want. In a 2022 survey from C+R Research, respondents estimated they spent an average of $86 a month on subscriptions, but when they were asked to individually break down their monthly payments based on their bank statements, they were, in reality, spending an average of $219. Additionally, 42% of respondents indicated they'd forgotten they were continuing to pay for products they no longer used.In an attempt to combat these practices, the Federal Trade Commission on Wednesday finalized a rule known as "Click-to-Cancel" that addresses the issue. The rule, which goes into effect in 180 days, would require most businesses to make the cancellation of subscriptions just as easy as the sign-up process, as well as protect customers from other dark pattern tactics.While the new rule is a strong stab at solving the issue, companies have spent years perfecting their methods of roping in new customers. Florencia Marotta-Wurgler, a consumer-law professor at New York University, told me that most people, no matter how smart they think they are, are vulnerable to traps such as hidden fees, misleading website layouts, or confusing terms and conditions."There's lots of biases that consumers have," Marotta-Wurgler said. "They care more about the immediate rewards than the cost, and a lot of these services are created or designed to exploit these biases to really dangle the shiny object that they want and then just to hide the cost later or when consumers might forget."It isn't an accident that people who want to cancel a subscription often have to navigate a web of bureaucracy and confusion. Erin Witte, the director of consumer protection at the Consumer Federation of America, says companies have spent years honing dark-pattern tactics to maximize recurring revenue."This is all by design. This is a way that companies can make a lot of money," Witte said. "These automatically recurring subscription plans and free-trial conversions, they basically capitalize on people not consenting actively to something over and over again. When you've forgotten that you signed up for it, it's a lot easier to just keep charging and charging and charging."These dark patterns usually involve two steps. First, the company makes it easy or desirable to opt for the recurring charge. Marotta-Wurgler pointed to Amazon's "subscribe and save" feature, in which the online retail giant offers a discount for agreeing to have a certain product delivered monthly. The website makes the subscription the default option during checkout, causing many consumers to enroll without realizing it. Second, the company keeps people subscribed using "negative options," or contracts in which it interprets a consumer's silence or failure to act as an agreement to continue purchasing the product. These frequently take the form of subscriptions that automatically renew unless the consumer cancels, and it's a primary way people find themselves paying for a service they didn't realize they were still being billed for.Some consumers have submitted public comments to the Federal Trade Commission about their frustrations with subscription cancellations. "I and many others have continuously been charged without consent for renewal of products," one person wrote. "The charging should be abundantly clear from the start, as ultimately whether or not the consumer wants to pay should be the consumers choice and not the business."The prevalence of these tactics and of consumer anger prompted the Consumer Financial Protection Bureau to issue guidance last year saying that companies were at risk of violating federal law should they fail to clearly disclose the terms of a negative-option service or make consumers jump through hoops to cancel a subscription. A CFPB official told me that the agency had seen "a lot of problems" with vague disclosures and rage-inducing cancellation processes in which consumers have to repeatedly speak with customer-service representatives for unreasonably long periods, preventing them from articulating their intent to cancel a subscription because they oftentimes cannot remain on hold long enough to do so.In some cases, these issues have led to litigation — the bureau sued TransUnion in 2022 over allegations that the credit-reporting agency "used an array of dark patterns to trick people into recurring payments and to make it difficult to cancel them." These tactics, the bureau alleged, included crafting a website with misleading buttons to give consumers the impression that they could access a credit score for free; instead, clicking the button would sign them up for recurring monthly charges using credit-card information they'd provided to verify their identity. TransUnion said at the time that the bureau's claims were "meritless and in no way reflect the consumer-first approach we take to managing all our businesses." A decision on the case is pending.Consumers are lured into subscriptions across all industries — and Marotta-Wurgler said that without enhanced regulation, such as a requirement to disclose terms of a subscription upfront rather than conceal it in the fine print, companies have few incentives to change their ways."When we're talking about consumer protection, the burden is always on the consumer," she said. "So the consumer needs to make the choice, and it's on the consumer to know what they're signing up for."Some business leaders oppose stricter regulations like the FTC's new Click-To-Cancel rule because they're concerned that making it easier to get out of subscriptions could cause consumers to accidentally miss out on products they still might want. The Association of National Advertisers argued in a public comment to the Federal Trade Commission that "if sellers are required to enable cancellation through a single click or action by the consumer, accidental cancellations will become much more common, as consumers will not reasonably expect to remove their recurring goods or services with just one click." The association added that accidental cancellations could cause customers to miss out on essential items, like food, and it would be burdensome for the customer to once again have to go through the sign-up process to renew their subscriptions. Witte dismissed this sort of thinking as short-sighted, arguing that companies could benefit from making their interfaces more consumer-friendly. "Actual affirmative consent from a consumer," Witte said, would establish trust between the consumer and the company, boosting loyalty. The FTC's new rule would make this sort of assent a reality: companies now have to adjust their sign-up processes so consumers explicitly confirm they want a subscription that automatically renews and understand the terms before they are charged, and companies have to be able to prove that consumers knew what they agreed to before they signed up."The FTC really wants to make sure, with this rule, that consumers are getting what they want and what they understand and what they agree to, and that businesses are serving consumers that want their product, not people who have just forgotten about a subscription or have had too much trouble getting out of it," Witte told me.While free trials and confusing websites can be a money-sucking headache for consumers, many of the methods of keeping people on the hook are legal. In some cases, however, the tactics used by subscription services can tip into outright fraud. Celebrity endorsements are a go-to method to convince consumers to put down their credit-card information, but sometimes the celebrity doesn't even know the company is using their likeness to boost a product. Mark Cuban can attest to this — the "Shark Tank" star told me he'd been featured "thousands of times" in ads for a keto-gummies subscription service. The ads make it appear as if Cuban endorsed the product, which promises health benefits and weight loss, but the endorsement is fake, and Cuban said he hadn't even heard of the product.While there are federal laws designed to prevent companies from lying in their advertising, Cuban argued that it would be "a waste of time" to take any legal action against the company, like sending them cease-and-desist orders, because the companies frequently close and open different legal entities to stay ahead of these claims. Some customers who were deceived by the ads have emailed Cuban asking for help getting out of the subscription. He forwarded me examples of a few of the emails he received: One customer said the gummy ad claimed that all "Shark Tank" investors had endorsed the product, but she ended up being charged an additional $200 for a product the company added alongside the 30-day supply, prompting her to immediately email the company to cancel the order. "This higher transaction will cause my checking account to be over and will cause my rent and utilities to bounce," she wrote. Cuban recommended everyone who signed up for the service to call their bank to cancel the charges.When dark patterns tip into outright scams and fraudulent subscription practices, the experience of being deceived can take a toll on consumers financially and mentally. Witte said consumers often feel like these situations are their fault. In retrospect, customers think they should have noticed red flags or read the fine print before entering their credit-card information. But companies have sophisticated technology to prevent you from looking into any red flags such as subscription pop-up windows that advertise the perks of a product but do not disclose the fine print."It's easy for consumers to look back and use their hindsight and say, 'Man, I really wish I had seen that or looked more carefully at this,'" Witte said. "But it's not always just about consumer awareness, and I think it really is much more about the product of manipulative design process."Rachel VonSiebenhoven, 52, signed up for a membership at her local massage parlor in Colorado in 2012 to treat herself. She said that she initially paid $55 a month but that the price gradually increased while the quality of the service declined. After the pandemic hit, she decided she was no longer getting her money's worth and began the process of canceling her membership in 2023. However, VonSiebenhoven said it took months of back-and-forth with the parlor to discuss refund options because the terms were murky on whether she could get money back after canceling her membership, all while she was charged for services she wasn't using. As of September, she was still trying to get her money back and didn't reach a resolution with the parlor on whether canceling her membership would cause her to forfeit any potential refund."It's just been a constant battle," she told me. "I'm working full time, I'm going to school for my MBA, so I have no time. So I'm hoping they just canceled it because if not, I'm just paying for something and still not able to get anything out of it."There could be some relief on the horizon — the Click-to-Cancel rule is a key step that could result in tangible benefits for consumers, Witte said — but she noted that it does not include a requirement for companies to send consumers annual notices about their subscriptions and provide them with an opportunity to cancel, which would have been an effective safeguard. The FTC is likely being as cautious as possible to avoid lawsuits against the rule, she said.Marotta-Wurgler described the initiative as a step in the right direction. "Companies have been able to get away with this because we've been playing Whac-A-Mole for a very long time," she said. Marotta-Wurgler argued that requiring structural changes in business practices, like implementing a bolstered federal standard for disclosing terms, would help prevent consumers from being lured into dark patterns. More attention at the state and federal levels would also help. Along with litigation from the CFPB, state attorneys general have pursued legal action against big companies over hard-to-cancel subscriptions. Last year, Letitia James, New York's attorney general, sued SiriusXM over claims that the radio company trapped customers in subscriptions and maintained a complicated and burdensome cancellation process. SiriusXM called the allegations "meritless" and asked for the case to be dismissed. The case is still pending.Industries have mastered techniques to maximize their profits by crafting their business models in confusing ways that can lure customers into a subscription without realizing it. With government attention, there's potential for change — but in the meantime, the burden is on the consumer to be vigilant or risk losing money."It can be really time-intensive and confusing and burdensome, and that's frustrating to people. So it's not just about losing money, but it's also wasting a lot of time," Witte said. "That doesn't have to be that way."<a target="_blank" rel="" href="https://www.businessinsider.com/author/ayelet-sheffey">Ayelet Sheffey</a> is a senior economic policy reporter on Business Insider's economy team.

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