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Ahead of Nazara Technologies’ IPO, the CEO says its public listing will put Indian gaming on the world map

<ul><li>Goldman Sachs Managing Director stated that the tech IPO market in the midst of 'super cycle'. </li><li>There are over 300 private tech companies valued at over $1 billion who now have to choose between staying private or going public though they might not necessarily be ready. </li><li>Uber, Lyft and Fiverr have already launched their IPOs this year. </li></ul>A large number of tech companies are racing ahead to public, kickstarting a tech IPO supercycle. While Uber, Lyft, Fiverr and Crowdstrike have <a href="https://www.businessinsider.in/here-are-the-mega-ipos-so-far-in-2019/articleshow/68786053.cms">already launched</a> their initial public offerings (IPOs) while Pinterest and Slack are<a href="https://www.businessinsider.in/The-tech-IPO-bonanza-More-than-100-unicorns-could-go-public-this-year/articleshow/68706719.cms"> mulling it over</a>. In India too, tech companies like Indiamart are planning to go public. Nick Giovanni, the Managing Director at <a href="http://midtowntribune.com/2019/06/18/tech-ipo-super-cycle/">Goldman Sachs</a> predicts, "There are over 300 private companies with private valuations over $1 billion, and dozens that have valuations over $10 billion, and so there are just more large private companies waiting to go public than at any time in the past." It sounds a lot like the dotcom bubble at the turn of the century but it might not play out the same way. The Super Cycle The IPO market for tech companies is set to boom after a decade of staying private. The 'super cycle' — the longest period of growth in a particular market — may have tech companies vying to go public. It's not necessarily because they're ready for the market, but because they want to get ahead of the competition. Early access to market means that their employees and early investors will get the first crack at unloading their shares. They also get to tap into a buyer's initial curiosity about a particular technology. Being listed gives tech companies the opportunity to acquire firms using publicly traded stock — a currency that private companies don't have access to. Dangers of the 'super cycle' If 2019 is truly the year of the tech IPOs, then there will be a lot more as the year progresses. But it may not be all good news. Increased tech IPOs would multiply the number of tech stocks available to trade. Since the number of tech investors is finite, this money into new IPOs could flow from already listed tech companies, stressing out valuations across the listed tech space. This change in valuations will have a ripple effect on the valuation of private companies as well. The onslaught on IPOs also has the potential to change the market perception of tech companies. Until recently, companies like Airbnb and Uber were considered 'better' for remaining private. Going public means that the company is ready for public scrutiny and accountability. That's a price they are willing to pay to thrive. But, in the rush to gain the first mover advantage, companies might be jumping in before they're ready to meet shareholder expectations. Recent examples In fact, Lyft and Uber — both ridesharing solutions — were caught in a race to the finish line having filed their paperwork with the Securities and Exchange Commission on the same day. And, Uber's launch on June 5 left Lyft's stock price in the dust. Uber's momentary win was shadowed by the fact that its market was at $64 billion, far below the $120 billion target. Fiverr, an Israeli startup for freelance writers, on the other hand, has been doing much better for itself. It's a gig-economy app, where freelancers can offer a host of different services like copy editing, logo design, and social media management to individuals or small companies who are on a budget or don't necessarily want to hire a full-time employee. Launched on June 13, investors are willing to put their money into the IPO despite the fact that the company is currently losing money. "After a very strong 2018, 2019 is on pace to continue to growth of the IPO market." Giovanni said during the Long and Short of it adding that, "What's different is that it's much more broad based than previous peaks."

Here's why the flurry of tech IPOs in 2019 is nothing like the dotcom boom of late 1990s

<ul><li>According to the 2020 <keyword id="424923" type="PERSON" weightage="20" keywordseo="Hurun-rich-list">Hurun rich list</keyword>, <keyword id="81713" type="PERSON" weightage="20" keywordseo="Ashok-Soota">Ashok Soota</keyword> was among the top 10 new entrants with a net worth of ₹3,700 crore.</li><li>The Soota backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding </li><li>Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India. </li></ul>The Bengaluru-based IT speciality company Happiest Minds Technologies’ ₹702 crore IPO,⁠ which concluded two weeks ago, not only made its investors richer but also turned out to be a big moneymaker for its promoter Ashok Soota. According to the 2020 Hurun Rich List, Ashok Soota was among the top 10 new entrants to the list with a net worth of ₹ 3,700 crore. Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India. Happiest Minds IPO: The 8th most successful IPO in the decade The Soota-backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding, making it the 8th most successful IPO in the decade. The Happiest Minds IPO received bids for 3.51 billion shares against the offer size of the 23.3 million. It was also the most subscribed IPO this year, followed by Route Mobile, which was subscribed 73 times. It was already on the cards! Well, Soota isn’t a newbie in the tech industry. The 77-year-old promoter brings with him more than 30 years of experience on the table. Before starting Happiest Minds 13 years ago, Soota was the founding Chairman and Managing Director of MindTree. Mindtree had completed its IPO in 2007 during his tenure and was subscribed 103 times by the investors. Soota also worked at Wipro for 14 years, rising to the post of the vice-chairman before he left Wipro to join Shriram Refrigeration Industries as senior vice president. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-vijay-shekhar-sharma-nithin-kamath-and-udaan-co-founders-are-in-the-list-of-richest-entrepreneurs-of-india/articleshow/78380782.cms">From Byju Raveendran, Vijay Shekhar Sharma to Nithin Kamath and Udaan co-founders – Here are the richest entrepreneurs of India</a> <a href="https://www.businessinsider.in/india/news/list-of-top-ten-richest-people-in-india-according-to-hurun-rich-list-2020/slidelist/78380656.cms">These are the top ten billionaires in India, according to Hurun Rich List 2020</a>

Happiest Mind Tech IPO makes Ashok Soota one of India’s richest – marks his debut on Hurun Rich List 2020

<ul><li>The company is likely to announce its share <keyword id="8894240" type="UNKNOWN" weightage="20" keywordseo="allotment-status">allotment status</keyword> on June 30.</li><li>The IPO of the agrochemical company <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> was subscribed 29 times on the last day of bidding.</li><li>Investors have bid for 56.07 crore shares against the 1.93 crore shares on offer.</li></ul>Lucknow-based agrochemical company India Pesticides is likely to announce the allotment of its initial public offering (IPO) status on June 30. The IPO was open for subscription between June 23 and June 25. The company is looking to raise ₹800 crore through the IPO. The public offer will comprise a fundraise via a fresh issuance of shares amounting to ₹100 crore and ₹700 crore through an offer-for-sale (OFS) by the promoter. The IPO has received good response from investors considering that investors have bid for 56.07 crore shares against the 1.93 crore shares on offer. The portion for qualified institutional investors was subscribed 42.95 times while the non-institutional investor category received a bid for 51.88 times. The company has said it would utilise the net proceeds from the public issue to fund working capital requirements and general corporate purposes. Here is how to check <keyword id="11534037" type="UNKNOWN" weightage="20" keywordseo="india-pesticides-ipo-allotment-status">India Pesticides IPO allotment status</keyword> on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'India Pesticides’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on 'India Pesticides’. It will only appear post allotment on June 30.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click 'submit'.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. See Also - <a href="https://www.businessinsider.in/tech/apps/news/one-year-of-chinese-apps-ban-indian-alternatives-take-over-tiktok/articleshow/83943865.cms">https://www.businessinsider.in/tech/apps/news/one-year-of-chinese-apps-ban-indian-alternatives-take-over-tiktok/articleshow/83943865.cms</a> <a href="https://www.businessinsider.in/stock-market/news/kims-ipo-listed-in-stock-market-at-over-20-premium/articleshow/83912694.cms">KIMS IPO: Stock listed at over 20% premium, loses initial gains after soaring to ₹1059 per share</a>

India Pesticides IPO -- How to check allotment status, listing date and more

<ul><li>In its board meeting, the Securities and Exchange Board of India has allowed the issuance of <keyword id="145734" type="PERSON" weightage="20" keywordseo="differential-voting-rights">Differential Voting Rights</keyword> for listech tech companies. </li><li>This will help promoters keep control of their company without having to dilute their power for financial help.</li><li>This is a positive step which will help companies head for an IPO in an easier manner.</li></ul>India’s Securities and Exchange Board of India has allowed Differential Voting Rights for listed companies in its board meeting which was held today. With Differential Voting Rights, companies whose promoters hold skill and talent to run the business can sell shares giving away their control in the company. This new framework comes in handy for companies who do not want hostile takeovers by investors. A recent case in point is the L&amp;T’s hostile takeover of Mindtree, where the former took a <a href="https://www.livemint.com/companies/news/with-60-stake-l-t-completes-its-hostile-takeover-of-mindtree-1561536743325.html">60%</a> controlling stake in the latter. "Raising equity on a periodic basis leads to dilution of founder/ promoter stake, which can be effectively addressed through the use of DVRs as a mode of capital raising.This is especially relevant for new technology firms which have asset light models, with little or no need for debt financing,” the <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword> discussion paper on the issue had noted. "Having a specific listing framework for DVRs of tech start-ups only shows that SEBI recognises the need to encourage entrepreneurship in nano-technology and biotech. India had been wary of introducing this in the past because many listed companies in India are promoter driven till date. The introduction and success of DVRs also requires balancing other concerns. It remains to be seen how this pans out from a corporate governance viewpoint,” said Sumit Agrawal of Regstreet Law &amp; ex-Sebi official. But will the issuance of DVR make it easier for startups in India to head the IPO way? Experts believe it is at least the first right step. “Superior rights to be considered as ‘control’ under takeover code, relaxation from lock-in requirements before IPO, implementation of sunset clause and threshold to consider such superior shareholders a part of promoter group, are some issues requiring clarity. Right now, it’s only a policy approval from SEBI, the letters of law in gazette notification is yet awaited.” said Agrawal.

Differential voting rights are good for Indian startups aiming for IPO – but not enough

New Delhi, The initial public offering (IPO) of the <keyword id="108191" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Finance-Corporation">Indian Railway Finance Corporation</keyword> (<keyword id="153053" type="COMPANY" weightage="20" keywordseo="IRFC">IRFC</keyword>) will open on January 18 in the price band of ₹25-26 per <keyword id="19448" type="ENTERTAINMENT" weightage="20" keywordseo="Share">share</keyword>. The IPO worth over ₹4,600 crore would close on January 20. The IPO of the <keyword id="6355260" type="COMPANY" weightage="20" keywordseo="NBFC">NBFC</keyword> comprises up to 178.20 crore equity shares of ₹10 each, including fresh issue of 118.80 crore shares and offer for sale of 59.4 crore equity shares. On Friday, the company raised ₹1,390 crore from anchor investors. Established in 1986, the dedicated financing arm of the railways is a public sector enterprise under the administrative control of the <keyword id="76223" type="COMPANY" weightage="20" keywordseo="Ministry-of-Railways">Ministry of Railways</keyword>. The Non-Banking Financial Company (NBFC) would utilise the proceeds of the IPO for augmenting equity capital base to meet future capital requirements and general corporate purposes. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-series-launched-in-india-price-specifications-and-everything-you-need-to-know/articleshow/80271404.cms">Samsung Galaxy S21 series launched in India – price, specifications, and everything you need to know</a> <a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-clocks-in-nearly-27-jump-in-profit-crosses-the-10-billion-revenue-in-third-quarter-of-year-2020-21/articleshow/80278852.cms">HCL Tech clocks in nearly 27% jump in profit, crosses the $10 billion revenue milestone with one more quarter left</a> <a href="https://www.businessinsider.in/education/news/here-are-the-top-courses-in-fintech-offered-by-indias-premier-colleges/articleshow/80286668.cms">From IIMs to BITS Pilani — here are the top courses in fintech offered by India’s premier colleges</a> <a href="https://www.businessinsider.in/travel/article/the-forgotten-little-town-of-bundi-in-rajasthan-is-a-treasure-waiting-to-be-unearthed/articleshow/80301178.cms">The forgotten little town of Bundi in Rajasthan is a treasure waiting to be unearthed</a>

IRFC IPO to open on January 18 with price band of ₹25-26 per share

<ul><li>The shares of <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> India are hovering at a premium of around <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/burger-king-shares-enjoy-85-premium-in-grey-market-ahead-of-mondays-listing/articleshow/79703456.cms" data-type="tilCustomLink">₹49-51</a> in the grey market— which suggests an upside of 85% over the issue price band.</li><li>The public issue of the quick-service restaurant (QSR) chain saw a stellar demand — making it the second most successful IPO of 2020 after Mazagon Dock shipbuilders. </li><li>The company is proposed to list on both stock exchanges (BSE &amp; NSE)</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The shares of the recently concluded Burger King India IPO are soaring in the grey market ahead of its listing on Monday. The company is proposed to list on both stock exchanges (BSE and NSE), and the net proceeds from IPO would be utilised to roll out new restaurants, and other corporate purposes. The shares of Burger King India are hovering at a premium of around <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/burger-king-shares-enjoy-85-premium-in-grey-market-ahead-of-mondays-listing/articleshow/79703456.cms" data-type="tilCustomLink">₹49-51</a> in the grey market — which suggests an upside of 85% over the issue price band of ₹59-60. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Stellar demand for its IPO The public issue of the quick-service restaurant (QSR) chain saw a stellar demand — making it the second most successful IPO of 2020 after Mazagon Dock shipbuilders. The offer was subscribed 157 times on December 4, the final day of bidding — as it received bids for 11.67 billion shares, against the 74.49 million on offer. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail individual investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO subscription </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.64x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">354.11x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">67.41x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">156.52x </td></tr></tbody></table> What impressed investors? New restaurant roll out on cards The company has grown into a pan-India QSR chain with 259 company-owned Burger King Restaurants and 9 sub-franchised Burger King Restaurants. The company has a target of 370 stores by December 2022 and 700 by 2026. It is one of the youngest and the fastest growing restaurant chains in India. The discounted valuation Analysts believed that compared to its other listed rivals, the IPO price band of Burger King was set at a significant discount and was an attractive issue to <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms#:~:text=on%20attractive%20valuations-,Burger%20King%20India%20IPO%20opens%20today,recommend%20'subscribe'%20on%20attractive%20valuations&amp;text=Ahead%20of%20the%20IPO%2C%20the,%E2%82%B959%2D60%20per%20share.">‘subscribe’ </a>for. Marquee investors Ahead of the IPO, the company had raised ₹364.5 crore from 55 anchor investors including ICICI Prudential, Samsung India Securities, Nippon Life, Fidelity Funds, Government of Singapore, IDFC MF, SBI MF, Monetary Authority of Singapore, among others. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-irctc-hdfc-bank-tcs-tvs-motor-dalmia-bharat-ultratech-acc-ambuja-and-others/articleshow/79672813.cms">Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/8-5-billion-tvs-group-restructures-ownership-of-group-companies-to-scrap-holding-company/articleshow/79672828.cms">$8.5 billion TVS Group restructures ownership of group companies, to scrap holding company</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-is-worth-more-than-the-3-largest-hotel-chains-combined-after-its-stock-popped-143-on-its-first-day-of-trading/articleshow/79672395.cms">Airbnb is worth more than the 3 largest hotel chains combined after its stock popped 143% on its first day of trading</a>

You Searched For "tech ipos india" and got 7 results

Ahead of Nazara Technologies’ IPO, the CEO says its public listing will put Indian gaming on the world map

Sanchita Dash

Here's why the flurry of tech IPOs in 2019 is nothing like the dotcom boom of late 1990s

Prabhjote Gill

Happiest Mind Tech IPO makes Ashok Soota one of India’s richest – marks his debut on Hurun Rich List 2020

Navdeep Yadav

India Pesticides IPO -- How to check allotment status, listing date and more

Bhakti Makwana

Differential voting rights are good for Indian startups aiming for IPO – but not enough

Sanchita Dash

IRFC IPO to open on January 18 with price band of ₹25-26 per share

IANS

Burger King India’s grey market appetite surges ahead of the stock debut tomorrow

Navdeep Yadav

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