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New Delhi, Japanese investment giant <keyword id="19944037" type="General" weightage="20" keywordseo="softbank" source="keywords">SoftBank</keyword> has sold an additional 2 per cent stake in <keyword id="19898109" type="General" weightage="20" keywordseo="paytm" source="keywords">Paytm</keyword>'s parent company, One97 Communications, over the last month through open market operations, a media report said on Wednesday. The investment firm has sold its shares worth Rs 3,800 crore in Paytm during the ongoing fiscal year (FY24), reports Entrackr. The firm offloaded shares worth Rs 2,840 crore across three tranches -- May, July and December 2023 -- and the fourth tranche concluded earlier this week. The storied investor's stake in Paytm has been reduced by 61.78 per cent due to a back-to-back dilution. According to data sourced from stock exchange filings, SoftBank's stake in Paytm has decreased from 13.24 per cent at the beginning of FY24 to just a little over 5 per cent, the report mentioned. SoftBank has been reducing its stake in Indian startups via public market deals. Besides selling its stake in Paytm in tranches over the past year, SoftBank's venture capital fund, <keyword id="20318037" type="General" weightage="20" keywordseo="svf-growth" source="keywords">SVF Growth</keyword> (Singapore), has also exited the online food delivery platform <keyword id="19901323" type="General" weightage="20" keywordseo="zomato" source="keywords">Zomato</keyword>, earning about Rs 1,125 crore. In December last year, reports said that SoftBank sold its stock worth $310 million in a second round sale in mother and child care e-commerce platform <keyword id="19939174" type="General" weightage="20" keywordseo="firstcry" source="keywords">FirstCry</keyword>. Since its launch in 2018, SoftBank has earned $5.5 billion through exits from its Indian portfolio as of August 2023. The investment firm is expected to make more partial or full exits in the future.

SoftBank sells another 2% stake in Paytm, offloads ₹3,800 cr worth shares in FY24

New Delhi, Around 10 crore shares of online food delivery platform <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword>, amounting to an 1.17 per cent of the company's equity, changed hands on Wednesday at a total deal value of around Rs 947 crore. Japanese company <keyword id="163404" type="General" weightage="50" keywordseo="softbank" source="Orion">SoftBank</keyword>'s <keyword id="18591081" type="General" weightage="50" keywordseo="svf-growth-fund" source="Orion">SVF Growth Fund</keyword> is the likely seller in this mega transaction, according to CNBC TV18. The report had earlier said that SVF Growth Fund may sell 10 crore shares of the company or 1.17 per cent of the total equity via block deals at Rs 94 per share. SVF Growth (Singapore) Pte. Ltd. had 3.35 per cent stake in Zomato, totalling around 28 crore shares. Zomato shares reached near Rs 100 after the block deal, and were hovering around Rs 98.45 in morning. The fresh block sale came after another foreign institutional investor, <keyword id="260318" type="General" weightage="50" keywordseo="tiger-global-management" source="Orion">Tiger Global Management</keyword>, offloaded its entire shareholding of 1.44 per cent in Zomato on Monday. The deal earned Tiger Global a total of Rs 1,123.85 crore. US-based investment major, via its VC fund Internet Fund III Pte Ltd, exited online food delivery platform Zomato. The VC firm sold around 12.34 crore shares or 1.44 per cent stake in Zomato at an average price of Rs 91.01 per share. Brokerage firm HSBC maintained its buy rating on Zomato and raised its price target to Rs 120 from Rs 102 earlier. The note said that hyperlocal can become a much bigger business for Zomato in the long-term. Zomato's stock is likely to be volatile in the near term on account of market speculation around possible exits by some pre-IPO shareholders (VC/PE/Chinese investors) of the company as well as erstwhile shareholders of Blinkit who had received it under a share swap deal, <keyword id="1367664" type="General" weightage="50" keywordseo="jm-financial-institutional-securities" source="Orion">JM Financial Institutional Securities</keyword> had said in its recent report.

Zomato stock up after 10 crore shares worth ₹947 crore change hands

<ul><li>It has chosen to remain a premium player that provides original content.</li><li>Almost 40% of <keyword id="1723835" type="General" weightage="20" keywordseo="hoichoi" source="Orion">hoichoi</keyword>’s revenues come from international subscriptions – US, UK, Australia, Canada, Middle East and Bangladesh are its key overseas markets.</li><li>It’s expanding its distribution globally with tie-ups with telecom players in Bahrain, Bangladesh and more.</li><li>The group’s television background helped them maintain the timelines and stick to budgets, which helped contain creative costs.</li></ul>When Shree Venkatesh Films (SVF), a West Bengal-based film and TV production company, wanted to get into OTT in 2017 – they wanted to start small – launching five original shows across three genres under the brand name hoichoi, which means excitement. Those were early days for vernacular shows – until then Indian original series across languages mostly premiered on YouTube and were short-form content. This was just before the launch of Netflix’s Sacred Games and Amazon Prime’s Inside Edge. Much like these shows, hoichoi’s bets took off too. <div type="image" title="WhatsApp Image 2022-10-03 at 6.08.30 PM." height="900" width="1200" msid="94629590" hostid="261" sizebytes="34982" caption="&amp;lt;p&amp;gt;Soumya Mukherjee, chief operating officer of Hoichoi&amp;lt;/p&amp;gt;"></div> “We saw an initial uptick for our originals. Four out of the five shows we launched created a lot of buzz,” Soumya Mukherjee, chief operating officer of hoichoi told Business Insider India. Ever since, there has been no stopping this regional OTT platform, which now caters to over 250 million Bengalis worldwide. The platform claims to be one of its kind with over 100 originals in a single language and more than 2,000 hours of content across web series, movies, shorts, docu-series and more. Moreover, it claims to have turned profitable within five years of its launch in spite of a large number of in-house productions of original films and shows. The OTT player claims that its direct subscriptions grew 50%, with a 20% month-on-month increase in watch time, in the post-lockdown period. “Along with this, hoichoi continues to have one of the highest refresh rates in India for a single language, with close to 5-7 titles, which includes original shows, world premiere movies and Hindi-dubbed originals releasing every month,” the company said. Turu love, Tansener Tanpura, Karagar and Kaiser are some of its top-rated shows on IMDB. Premium-only The secret, Mukherjee says, lies in its pricing strategy. “From the start, we positioned ourselves as a premium product with around ₹1,000 per annum. From day 1, we knew that content had to be protected and had never looked to diversify. We want to tell great stories with a good mix of movies and shows,” he said. In the US, it charges around $10 per month - on par with what OTT giant Netflix charges in the market. The reason is the love for content in the mother tongue, Bengali, which is the second most-spoken Indian language, as per Mukherjee. “Bengalis are deeply rooted to their culture wherever they are,” he said. In fact, almost 40% of hoichoi’s revenues come from international subscriptions, including the US, UK, Australia, Canada, Middle East and Bangladesh. The OTT claims that customer stickiness is high and almost 70-75% of their subscribers renew subscriptions annually. It premiers a new movie every month and that aids its renewals, it claims. “While our monthly active users have increased by 40%, our international user base has also risen by 30%. Not only do these numbers make us ecstatic, but also motivate us to do even better, as we step into our sixth year,” said Vishnu Mohta, co-founder of hoichoi. Content Refresh: 25 new shows announced Hoichoi also claims to go the extra mile with its user experience. “To help some of our elderly subscribers, we send our people to visit personally and demonstrate as and when needed,” says Mukherjee. As India’s first vernacular OTT enters its sixth year, it announced 25 new shows – four from Bangladesh and 21 from India – with top creators and across genres. For its latest series, it also roped in national award-winning creator Srijit Mukherji, who is creating a crime detective show Feluda. Mukherjee attributes hoichoi’s success to Bengal’s wide talent pool of writers, producers, actors, technicians and directors, in addition to its legacy. “We imbibed the discipline of TV and the quality of films into the OTT venture,” he explains. The group’s presence in television helped them maintain the timelines and stick to budgets, which helped contain creative costs. Their targeted marketing also helped contain marketing costs to 20% of the overall revenue — which Mukherjee claims is one of the lowest in the industry. Over the years, hoichoi launched a lot of new faces, but is also now focusing on bringing in bigger actors into its fold. “Naturally production costs will increase but in terms of revenue growth we are doing ok,” he says. Distribution strategy Last year, the platform became a part of Prime Channels – where multiple OTTs can be subscribed to. While it is seeing traction for its Hindi-dubbed library on Prime Channels as well as on MX Player, it wants to remain rooted in Bengali. Its best-performing show on both these platforms was Charitraheen. It has also partnered with Jio, Airtel XStream, Tata Play and Dish TV and is looking at deep integration within and outside India as well. It has tied up with Bangladeshi telecom players Grameenphone, Robi and Banglalink and also Bahrain-based telco Batelco. Also, the player is not too worried about password sharing, which is the blight of its business. “We do not see too many cases of password sharing. We only offer two simultaneous streaming across five devices,” Mukherjee says. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/auto-sales-remain-buoyant-in-september-with-reports-of-a-good-festive-season-ahead/articleshow/94622721.cms">Auto sales remain buoyant in September with reports of a good festive season ahead</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/electronics-mart-india-ipo-set-to-open-on-oct-4-commands-grey-market-premium-of-30/share/articleshow/94620046.cms">Electronics Mart India IPO set to open on Oct 4; commands grey market premium of ₹30/share</a>

This pioneering regional OTT has turned profitable in 5 years – here’s how

Integrated logistics provider <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword> on Friday saw 2.51 per cent of its shares worth Rs 747 crore exchanging hands in a block deal, with Japanese investment giant <keyword id="163404" type="General" weightage="20" keywordseo="softbank" source="Orion">SoftBank</keyword> as likely seller. Around 1.8 crore shares of Delhivery changed hands at Rs 403 per share. Moneycontrol was on Thursday first to report about Softbank's move to sell some of its stake in the logistics firm in a block deal valued at $150 million. Before the block sale, SoftBank, via its subsidiary Svf Doorbell (Cayman), had a 14.6 per cent stake in the logistics firm. The Delhivery stock was hovering around Rs 402.5 in early trade. Over the past few months, Softbank has divested its stake in <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and Policybazaar's parent company PB Fintech. Logistics services provider Delhivery's net loss in the September quarter (Q3) of the current financial year was more than halved to Rs 103 crore, while revenue increased by 8 per cent to Rs 1,942 crore, despite higher inflation and fund crunch. The company reported a loss of Rs 254 crore and revenue of Rs 1,796 crore in the same quarter of the previous year. Last month, nearly 9.28 crore equity shares of online food delivery platform Zomato worth Rs 1,040 crore were offloaded in a bulk deal, likely by SoftBank. SoftBank, via its affiliate SVF Growth (Singapore) Pte, likely sold 1.09 per cent stake in Zomato in the bulk deal. Shares exchanged hands at an average price of Rs 111.20. SoftBank held a 2.17 per cent stake in Zomato (by September 2023 quarter).

SoftBank likely sold 2.5% stake worth Rs 747 cr in Delhivery

<ul><li>Indian logistics firm Delhivery has filed a draft red herring prospectus (DRHP) to raise ₹7,460 crore through public listing.</li><li>Marquee investors like SoftBank, Tiger Global Management, Times Internet and The Carlyle Group have invested in the 10-year old startup.</li><li>Shares worth ₹5,000 crore will be freshly issued by the firm and remaining chunk of shares will be sold by existing promoters shareholders.</li></ul>Gurgaon-based 10-year-old logistics startup Delhivery has filed its draft red herring prospectus (DRHP) to launch an initial public offering (IPO). Delhivery is looking to raise ₹7,460 crore, which is approximately $1 billion, at current rates, through public listing of shares. Out of the overall IPO issue size, shares worth ₹5,000 crore will be a fresh issue by the company and the remaining ₹2,460 crore will be sold by existing shareholders and promoters. Shares worth ₹920 crore will be sold by CA Swift Investments, ₹750 crore by SVF Doorbell and up to ₹330 crore by Times Internet. Delhivery said it will use ₹2,500 crore out of the IPO proceeds for funding organic growth initiatives, ₹ 1,250 crore for funding inorganic growth through acquisitions and other strategic initiatives. To list its shares publicly, recently the startup had <a href="https://www.businessinsider.in/business/startups/news/delhivery-is-a-step-closer-to-file-of-its-ipo-converts-to-a-public-entity/articleshow/86831171.cms">converted itself to a public limited </a>entity, which will allow it to raise capital from the general public. In a run-up to the IPO, the Gurugram-based startup has already raised half a billion from three prominent investors — <a href="https://www.businessinsider.in/business/news/logistics-platform-delhivery-raises-277-million-led-by-fidelity-valuation-touches-3-billion/articleshow/83105795.cms">Fidelity</a>, <a href="https://www.businessinsider.in/business/startups/news/100-million-investment-in-delhivery-will-help-fedex-gain-prominence-in-india/articleshow/84471579.cms">FedEx</a> and <a href="https://www.businessinsider.in/business/startups/news/logistics-company-delhivery-raises-76-million-ahead-of-its-ipo/articleshow/85997440.cms">Lee Fixel’s Addition</a>. It has raised over $1.3 billion to date from marquee investors like SoftBank, Tiger Global, Times Internet, The Carlyle Group and Steadview. DISCLOSURE: Times Internet, an investor in Delhivery, owns Times Bridge, which is Business Insider's partner in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/elon-musk-owned-starlink-forms-subsidiary-in-india-will-soon-apply-for-licenses/articleshow/87480590.cms">Elon Musk-owned Starlink forms subsidiary in India, will soon apply for licenses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-tata-motors-gains-on-strong-demand-for-jlr-despite-14-fold-widening-of-loss/articleshow/87480018.cms">What Tata Motors investors are excited about — obviously not the huge loss</a>

Logistics startup Delhivery files for a nearly $1 billion IPO

<ul><li><keyword id="8143913" type="General" weightage="20" keywordseo="oyo-ipo" source="Orion">OYO IPO</keyword> would consist of 83% fresh issue and 17% secondary issue.</li><li>SoftBank would be selling shares aggregating up to $178 million in the public issue.</li><li>The company will spend the proceeds from the IPO for repaying of loans and funding organic as well inorganic growth initiatives.</li></ul>SoftBank-backed hotel and hospitality giant <keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), to raise ₹8,430 crore or about $1.2 billion via its initial public offering (IPO). According to documents seen by Business Insider, the Gurugram-based startup aims to raise ₹7,000 crore or about $942 million through the sale of new shares. About ₹1430 or $192 million will be raised through secondary issue or offer for sale. The IPO would consist of 83% fresh issue and 17% secondary issue. <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;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale (OfS) </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;">SoftBank via SVF India Holding (Cayman) </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;">Shares worth ₹1,328.53 crore ($178 million) </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;">Grab’s A1 Holdings </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;">Shares worth ₹51.6 crore ($7 million) </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;">Huazhu Hotels Group’s China Lodging Holdings (HK) </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;">Shares worth ₹23.1 crore ($3 million) </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;">Global Ivy Ventures </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;"> Shares worth ₹26.7 crore ($3.6 million) </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> OYO’s DRHP is not public yet. According to OYO's DRHP accesssed by Business Insider, OYO is planning to use the proceeds from the public issue to repay loans worth ₹2,441 crore. The company would also spend about ₹2,900 crore in organic and inorganic growth initiatives. Kotak Investment Banking, JP Morgan, Citigroup Global Markets India are the global coordinators and book running lead managers of the IPO. ICICI Securities, Nomura, Deutsche Equities India and JM Financial are booking running lead managers. Link Intime is the registrar of the office. OYO was founded in 2013 by Ritesh Agarwal, who is the <a href="https://www.livemint.com/companies/people/oyo-s-ritesh-agarwal-is-the-world-s-second-youngest-self-made-billionaire-11582782072380.html">second youngest</a> self-made billionaire in the world after American model and entrepreneur Kylie Jenner. The Gurugram-based company has a network of over 157,000 small hotels and home owners spread across 35 countries. The company reported a revenue of ₹4,157 crore in the financial year 2021, this represented a significant drop from ₹13,412.2 crore reported by the company in the last financial year. This drop seems to be due to COVID-induced travel restrictions that impacted the entire growth and hospitality segment. However, it improved its adjusted gross margin from 9.7% in FY20 to 33.2% in FY21. The company’s EBITDA losses also dropped during the pandemic. <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;">Metrics </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;">FY2021 </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;">FY2020 </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;">FY2019 </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;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,157 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,413 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,518 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restated loss for the year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,944 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹13,123 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,364 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> According to media reports, the company is seeking over $12 billion in valuation with this public issue. The company, which is backed by Airbnb, Lightspeed Venture Partner and Sequoia Capital India — was valued at<a href="https://www.businessinsider.in/business/startups/news/microsoft-back-oyo-at-a-valuation-of-9-6-billion/articleshow/85481652.cms"> $9.6 billion last month</a>, when it raised $5 million from Microsoft. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">4-year old Ola Electric is now worth over a half of its older sibling Ola</a>

Ritesh Agarwal-led OYO files preliminary papers for its $1.2 billion IPO

<ul><li>YouTube today released the year 2021’s top 10 most-watched ads in regional languages. </li><li>The annual regional ads leaderboard features ads across six languages – Marathi, Telugu, Bangla, Punjabi, Tamil, Kannada – and represents a mix of both national and regional marketers across industries. </li><li>This listing reinforces the increasing adoption of digital by brands to engage with this large and growing consumer base to unlock growth.</li></ul>YouTube today released the year 2021’s top 10 most-watched ads in regional languages. The annual regional ads leaderboard features ads across six languages – Marathi, Telugu, Bangla, Punjabi, Tamil, Kannada – and represents a mix of both national and regional marketers across industries. With nearly half of all India internet users preferring content exclusively in regional languages, YouTube is the number one platform for accessing videos in regional languages. This listing reinforces the increasing adoption of digital by brands to engage with this large and growing consumer base to unlock growth. <keyword id="2097999" type="General" weightage="20" keywordseo="sapna-chadha" source="Orion">Sapna Chadha</keyword>, VP, Marketing, India &amp; South East Asia, <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword>, said, “With the rapid expansion of internet users over the past few years, YouTube is helping connect viewers to a diverse tapestry of helpful content. One of the hallmarks of this is the variety of languages users access content in. Today, an overwhelming 93 per cent of YouTube viewers prefer to watch content in an Indic language of their choice. Increasingly, brands are responding to the importance of their consumers’ language preferences and creating engaging advertising in these to enhance their connect. In prioritizing for language, businesses are thus not just creating customer delight but also achieving better business outcomes.” Describing the thinking behind the Bengali language ‘Live Life in Colour’ series for Sunlight, Nitish Bhalotia, GM Fabric Cleaning, <keyword id="44863" type="General" weightage="20" keywordseo="hul" source="Orion">HUL</keyword>, said, “With a legacy of over 125 years, Sunlight is an immensely loved brand in West Bengal, where almost 8 out of 10 households purchase it during the course of a year. With our new purpose – encouraging people to “Live Life in Colour – we decided to launch a series of YouTube-only music videos during the most important moments of the Bengali festive calendar. The first was the Jiboner Rong campaign during the Pujos in 2020, and its enormous success led us to launch Boishakhi Rongeen during Poila Boishakh (Bengali New Year). For both these films, we worked with well known and new talent from the Bengali film and creative industry and the content became viral in no time. More than the numbers, we received immense love from consumers who appreciated us capturing the essence and spirit of Bengal with visual storytelling, music, and colour. Not surprisingly, post these campaigns, there’s been a sequential improvement in sales growth, market share, and in the number of households buying Sunlight.” Speaking about their campaign, <keyword id="193324" type="General" weightage="20" keywordseo="vineet-sharma" source="Orion">Vineet Sharma</keyword>, Category Director-Mountain Dew® &amp; Sting®, <keyword id="110163" type="General" weightage="20" keywordseo="pepsico-india" source="Orion">PepsiCo India</keyword>, said, “With the increasing digitization and smartphone adoption, there is an appetite for regional content and that has given brands an opportunity to connect with their audience in their preferred language across different markets. With localized creative storytelling, we focused on creating a consumer connection with our regional audience and increase brand relevance in our core markets. Sting’s association with YouTube has helped us amplify messaging effectively and the success of Energy Bole Toh Sting campaign is reflective of the brand love and impactful consumer engagement through local storytelling.” YouTube’s Most-watched Regional Language ads in 2021 Mumbai Indians Aaplya Family Cha | Official Marathi TVC Brand: Mumbai Indians Language - Marathi Views: 661,156 <div type="Youtube" id="dkhw39Zm6MM" title="Mumbai Indians Aaplya Family Cha | Official Marathi TVC" thumbUrl="https://i.ytimg.com/vi/dkhw39Zm6MM/mqdefault.jpg"></div> Rapido Bike-Taxi | Smart Ho Toh Rapido | Guru at a Salon | Allu Arjun | Brand: Rapido Bike - Taxi Language - Telugu Views: 1,230,759 <div type="Youtube" id="YU7oOKj7cUQ" title="Rapido Bike-Taxi | Smart Ho Toh Rapido | Guru at a Salon | Allu Arjun | Telugu" thumbUrl="https://i.ytimg.com/vi/YU7oOKj7cUQ/mqdefault.jpg"></div> Sunlight Boishakhi Rongeen Brand - SVF Language - Bangla <div type="Youtube" id="TmEq0B_mGJk" title="Sunlight Boishakhi Rongeen(বৈশাখী রঙিন)|Dhrubo Banerjee |Ushashi |Alaknanda |Adrija |Amit-Ishan |SVF" thumbUrl="https://i.ytimg.com/vi/TmEq0B_mGJk/mqdefault.jpg"></div> Sting Brand - Sting Energy Drink India Language - Punjabi Views - 3,766,070 <div type="Youtube" id="MizPsSeozkQ" title="Sting TVC Punjabi 2021" thumbUrl="https://i.ytimg.com/vi/MizPsSeozkQ/mqdefault.jpg"></div> TUCKER MASALA Brand - Tucker Masala Language - Tamil Views - 1,066,181 <div type="Youtube" id="jF92rXEnn9c" title="TUCKER MASALA | டக்கர் மசாலா - TVC - Jingle" thumbUrl="https://i.ytimg.com/vi/jF92rXEnn9c/mqdefault.jpg"></div> Kasha astat hya bayka | Cottonking | Bhau beej Brnad - Cottonking Official Language - Marathi Views - 533,885 <div type="Youtube" id="2zW1z081xgQ" title="कशा असतात ह्या बायका | Kasha astat hya bayka | Cottonking | Bhau beej" thumbUrl="https://i.ytimg.com/vi/2zW1z081xgQ/mqdefault.jpg"></div> Prepare for JEE/NEET with Sri Chaitanya’s expert faculty on <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> Academy Brand - Amazon Academy Language - Telugu Views - 559,015 <div type="Youtube" id="OHv9NtY_2dA" title="Prepare for JEE/NEET with Sri Chaitanya’s expert faculty on Amazon Academy (Telugu)" thumbUrl="https://i.ytimg.com/vi/OHv9NtY_2dA/mqdefault.jpg"></div> Circle of Life - A Pavement Dweller's Journey for Identity | Beyond Banking | Equitas Bank Brand - Equitas Small Finance Bank Language - Tamil Views - 328,147 <div type="Youtube" id="8-bp73VseoY" title="Circle of Life - A Pavement Dweller's Journey for Identity | Beyond Banking | Equitas Bank" thumbUrl="https://i.ytimg.com/vi/8-bp73VseoY/mqdefault.jpg"></div> What is the true Taste Of Success for Sonu Sood? Brand - Royal Green Language - Telugu Views - 511,551 <div type="Youtube" id="DGXZQ69WeaA" title="What is the true Taste Of Success for Sonu Sood? - Telugu" thumbUrl="https://i.ytimg.com/vi/DGXZQ69WeaA/mqdefault.jpg"></div> Ola Autovina Home Delivery! Brand - Ola Language - Kannada Views - 295,751 <div type="Youtube" id="42NdA4O4QKk" title="Ola Autovina Home Delivery! | Kannada Brand Film | ಓಲಾ ಆಟೋನ ಹೋಂ ಡೆಲಿವರಿ" thumbUrl="https://i.ytimg.com/vi/42NdA4O4QKk/mqdefault.jpg"></div>

Here are 2021’s most-watched regional language ads on YouTube

<ul><li><keyword id="696009" type="COMPANY" weightage="20" keywordseo="Policybazaar">Policybazaar</keyword> is planning to raise ₹6,000 crore through its IPO</li><li>Softbank will be taking a partial exit from the company through this public issue</li><li>Policybazaar is one of the biggest beneficiaries of the boom in India’s insurance sector.</li></ul>If you have moved on from the craze around Zomato’s initial public offering (IPO), here’s another one that is likely to have the market swooning pretty soon. India’s largest online insurance aggregator ⁠— also the sixth largest fintech startup ⁠— the 13-year old Policybazaar is ready to raise ₹6,000 crore (about $850 million) from the market. <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;">Policybazaar IPO </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;">Details </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;">Issue size </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;">₹6,017.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,750 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Offer for Sale (OfS) or secondary share sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,267.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OfS by </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;">SoftBank via SVF Python II </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;">Book running lead managers </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;">Kotak Mahindra Capital, Morgan Stanley, Citigroup Global Markets India, ICICI Securities, HDFC Bank Ltd, IIFL Securities and Jefferies India </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;">Estimated valuation </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;">$5.5-6 billion (media reports) </td></tr></tbody><tbody></tbody></table> Source: Draft Red Herring Prospectus filed with the Securities and Exchange Board of India (SEBI) Policybazaar is one among a slew of tech IPOs to hit the Indian exchanges this year. It is also one of the country’s top fintech startups ⁠— the other one being Paytm ⁠— going for a public issue. 95% of Policybazaar’s revenue comes from commissions from insurance companies for selling policies. <div type="image" title="Policybazaar IPO: All you need to know the details of sixth largest fintech Startup" msid="84967470" hostid="261"></div> Bank of America estimates the market size for insurance technology at $6 billion where Policybazaar is a leading player. Global peers include companies like the US-based Slice and Lemonade. However, in India, only 4 in 100 Indians have any kind of insurance and, therefore, the headroom for growth is immense. The world average is 7.4. Insurance penetration in India, a year earlier, just before the pandemic, was an appalling 2.8. The last one year has been good for insurers. According to a survey by Policybazaar, the average sum insured for health insurance policies bought on the online insurance marketplace almost doubled to ₹22.4 lakh by March 2021 compared to ₹11.4 lakh a year earlier. The company sold 7.2 million insurance policies in the year ending March 2021, up from 5.9 million a year earlier. Policybazaar is one of the biggest beneficiaries of the boom in India’s insurance sector as a market leader in selling insurance online. Private equity firm True North Co’s partner Haresh Chawla, in an exclusive interaction with Business Insider, recalled a conversation he had with one of the top three insurance companies in India, a couple of years ago. The management told him that almost 10% of their business came through Policybazaar. “I asked them, [say] there are 15 insurance companies in India. If for all 15 insurance companies, 10% market share or revenue is taken by PolicyBazaar, can you imagine when you add up the revenue for Policybazaar gets how big it becomes. And then the room fell silent. It's almost that the whole world situation is like the traditional companies are sleeping on these issues,” Haresh added. India has 57 insurance companies, 24 are in the life insurance business, while 34 are non-life insurers, according to the <a target="_blank" class="c-link" href="https://www.ibef.org/industry/insurance-sector-india.aspx">India Brand Equity Foundation</a>. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. However, that’s just potential. For now, Policybazaar is a loss making company, although the losses have more than halved compared to three years ago. <div type="image" title="All you need to know about the IPO from Policybazaar, India&amp;#39;s sixth largest fintech startup" msid="84967117" hostid="261"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms" data-type="tilCustomLink">EXCLUSIVE: India's largest zinc miner is eyeing a share of the Bangladesh economic boom</a> <a href="https://www.businessinsider.in/tech/news/jack-dorseys-square-agreed-to-buy-afterpay-which-has-a-buy-now-pay-later-service-for-29-billion-in-stock/articleshow/84962218.cms">Jack Dorsey's Square agreed to buy Afterpay, which has a 'buy now, pay later' service, for $29 billion in stock</a> <a href="https://www.businessinsider.in/tech/news/twitter-offers-up-to-3500-to-people-who-can-help-fix-apparent-racial-and-gender-bias-in-its-image-cropping-algorithm/articleshow/84946710.cms">Twitter offers $3,500 reward to people who can help fix apparent racial and gender bias in its image-cropping algorithm</a>

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