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<ul><li><keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> has relaunched its Gold loyalty program, offering discounts and special access to subscribers.</li><li>Gold subscribers will get free deliveries and up to 30% discount on food deliveries.</li><li>The company has also announced up to 40% discount for dining.</li></ul>Popular food delivery app Zomato has relaunched its Gold loyalty program, replacing the company’s “Pro Plus” membership that was discontinued in 2021. The <keyword id="7913404" type="General" weightage="20" keywordseo="zomato-gold-membership" source="Orion">Zomato Gold membership</keyword> is expected to be available to members soon. Users who subscribed to the company’s Pro Plus membership will get three months of complimentary Gold membership. <cmsannotation type="cmsannotation" annotationid="Zomato Gold price" comment="subhead" text="Zomato Gold price"><keyword id="16229038" type="General" weightage="20" keywordseo="zomato-gold-price" source="Orion">Zomato Gold price</keyword></cmsannotation> <keyword id="4299597" type="General" weightage="80" keywordseo="zomato-gold" source="Orion">Zomato Gold</keyword> has been launched with an introductory price of ₹149 for three months. The company has not revealed the price for an annual subscription yet. <cmsannotation type="cmsannotation" annotationid="Zomato Gold benefits" comment="subhead" text="Zomato Gold benefits"><keyword id="16229042" type="General" weightage="20" keywordseo="zomato-gold-benefits" source="Orion">Zomato Gold benefits</keyword></cmsannotation> Zomato has announced several benefits for food deliveries and dining. <cmsannotation type="cmsannotation" annotationid="Zomato Gold benefits for food deliveries" comment="subhead2" text="Zomato Gold benefits for food deliveries">Zomato Gold benefits for food deliveries</cmsannotation> The biggest benefit that Zomato will offer with Gold is free food deliveries. This will be limited to restaurants within 10 km of you and applicable on orders above ₹199. This is handy for someone who regularly places orders on Zomato. <a href="https://www.businessinsider.in/tech/apps/news/swiggy-one-membership-price-benefits-and-everything-you-need-to-know/articleshow/87848507.cms">Swiggy One</a> offers a similar benefit, offering free deliveries within 10 km of the user on orders above ₹149. In addition to free deliveries, users will also get discounts of up to 30% at over 20,000 restaurants across the country. Zomato will also offer a “no delay guarantee” to Gold subscribers and delayed deliveries will result in the user getting a ₹100 coupon instantly. The final benefit offered under Gold for food deliveries is VIP access during rush hour. Under this, Gold subscribers will still have access to restaurants during high demand, meaning they will get priority over normal users. <cmsannotation type="cmsannotation" annotationid="Zomato Gold benefit for dining" comment="subhead2" text="Zomato Gold benefit for dining">Zomato Gold benefit for dining</cmsannotation> Zomato Gold also brings offers for dining. This time, the company has partnered with over 10,000 restaurants across the country, allowing Gold users to get discounts of up to 40% while dining out. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/the-oneplus-11-may-undercut-the-iqoo-11-to-be-the-cheapest-snapdragon-8-gen-2-smartphone-in-india/articleshow/97269913.cms">The OnePlus 11 may undercut the iQOO 11 to be the cheapest Snapdragon 8 Gen 2 smartphone in India</a> <a href="https://www.businessinsider.in/tech/news/logitech-mx-mechanical-keyboard-review-a-premium-mechanical-keyboard-for-professionals/articleshow/97255605.cms">Logitech MX Mechanical Keyboard review – a premium mechanical keyboard for professionals</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s23-series-to-launch-soon-launch-date-expected-price-and-features/articleshow/97243146.cms">Samsung Galaxy S23 series to launch soon – launch date, expected price and features</a>

Zomato Gold re-launched with free deliveries, VIP access, up to 40% discount on dining, and more

Online food delivery platform <keyword id="830092" type="General" weightage="100" keywordseo="zomato" source="Orion">Zomato</keyword> has stopped signing up new users or renewing old subscriptions for its loyalty dining membership programme called 'Pro', as the Deepinder Goyal-run company is working with customers and restaurant partners to craft a new programme. The move comes as fine-dine restaurants are now open across the country after facing a turbulent time in the pandemic, and people now prefer going out with families for dinners. The online food aggregator launched <keyword id="9490437" type="General" weightage="80" keywordseo="zomato-pro" source="Orion">Zomato Pro</keyword> in 2020 and Zomato Pro Plus in 2021, in a bid to let users enjoy extra perks like priority delivery, money-back guarantee and more. The food tech unicorn had renamed its <keyword id="18712" type="General" weightage="50" keywordseo="gold" source="Orion">Gold</keyword> subscription programme as Zomato Pro. The company has already shut its premium aPro Plus' programme. In a statement to IANS, a Zomato spokesperson said that while Zomato Pro and Pro Plus have been loved tremendously by its customers and merchants, "we want it to be even more beneficial, especially for the most engaged customers and merchant partners". "We are taking feedback and working closely with our customers and restaurant partners to craft a new programme. Meanwhile, we are not onboarding new members and merchant partners to Zomato Pro and Zomato Pro Plus," the company spokesperson added. While active members can continue to get their benefits as promised, they will not be able to extend/renew their memberships once their membership tenure expires. Zomato said it promises "to come up with a bigger, better experience very soon". Zomato's competitor <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> also has its own loyalty programme called Swiggy One that allows its members unlimited free deliveries from select restaurants and unlimited free delivery from <keyword id="14779240" type="General" weightage="50" keywordseo="quick-commerce-service" source="Orion">quick commerce service</keyword> <keyword id="9728281" type="General" weightage="50" keywordseo="instamart" source="Orion">Instamart</keyword> on orders more than Rs 99. Zomato reported Rs 185.7 crore in consolidated loss for the quarter ending June 30, compared to a loss of Rs 359.7 crore in the previous quarter. The consolidated revenue saw 67 per cent increase at Rs 1,413.9 crore from Rs 844.4 crore (same quarter last year), and 16.68 per cent up from Rs 1,211.8 crore in the last reported quarter. "Our focus on profitability has sharpened over the past few months with the change in market context, without compromising our focus on growth," said <keyword id="3378387" type="General" weightage="50" keywordseo="zomato-founder" source="Orion">Zomato Founder</keyword> and CEO <keyword id="476451" type="General" weightage="50" keywordseo="deepinder-goyal" source="Orion">Deepinder Goyal</keyword>. He said that the company is focused on spending wisely and continually reinforcing a lean cost culture -- "particularly in a business like ours which is currently loss making". SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lazarus-hackers-targeting-apple-mac-users-with-fake-job-posts/articleshow/93703334.cms">Lazarus hackers targeting Apple Mac users with fake job posts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indians-spend-half-an-hour-every-day-on-memes-and-thats-gone-up-80-in-the-last-year/articleshow/93702734.cms">Indians spend half an hour every day on memes and that's gone up 80% in the last year</a>

Zomato stops new users, renewals for its loyalty dining programme Pro

<ul><li><keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>’s promise to turn net profit positive in a year has cheered investors. </li><li>Margins in its core food delivery business has hit a multi-quarter high. </li><li>The worry? Monthly transacting users and gross order value has declined versus the previous reported quarter. </li><li>Nomura believes Zomato will find it difficult to achieve double-digit contributory margin with high growth in the long term </li></ul>Two years after it listed on the bourses, Zomato is on a recovery path. The stock which hit a high of over ₹150 per share fell sharply subsequently to below ₹50 a piece. However, the last quarter (Q1FY24) has seen a recovery from that level and it has now surpassed its listing price of ₹76. The stock has been rising steadily in the last three weeks, after its Q4 earnings report where it turned EBITDA positive in its core business, without including Blinkit, its quick commerce business. EBITDA is net income (earnings) with interest, taxes, depreciation, and amortisation. Moreover, the management also promised to turn positive not just at the consolidated adjusted EBITDA level but also at the profit after tax level in a year. Financial services company, JM Financial says this commitment is the ‘cherry on the cake’. “Tough macro posed growth headwinds but management showed urgency on profitability and that was despite the Gold programme launch,” said Jefferies. Zomato Gold is a subscription plan that offers free deliveries within a 10-kilometre radius for orders above ₹199. During the quarter, as many as 30% of the gross order value, from 1.8 million customers, came from Gold. The Gold plan could hurt its contributory margins (CM) because of its inability to charge every order. Yet, as of Q4, its CM in core food delivery business are comfortable after hitting a multi-quarter high. Contributory margins represent the incremental money generated for each unit sold after deducting the variable portion of the costs. “The core business milestone was achieved mainly on the back of solid expansion in the food delivery contribution margin to 5.8% in Q4 vs 5.1% in Q3. This was because profitability levers such as improvement in restaurant commissions and ad income, and lower discounts/variable cost offset the adverse impact of Gold launch,” said JM Financial. Ordering effects After the post-pandemic boom effects faded away, a lot of consumption patterns have changed, also evident in consumer spending on fast food — impacting growth in quick service restaurants. These headwinds have been impacting Zomato as well. The growth in Zomato’s food delivery business seems to have flatlined. Food gross order value declined 2% quarter-on-quarter, even as it grew 12% year-on-year. Moreover, its monthly transacting users (MTU) declined by 5% QoQ to 16.6 million, while growing at 6% YoY. Apart from the one-time impact of its decision to exit from 225 cities, the company attributes MTU decline to optimised marketing spend and withdrawal of the human support interface for abusive customer cohorts. “Also because of Zomato Gold, the MTUs have come down and not gone up because we do see an impact of clubbing some orders in the same households, which might have just a single membership,” Akshant Goyal, chief financial officer of Zomato said in an earnings concall. The management, however, remains confident about food delivery ordering going up in the first quarter of FY24. Analysts, on the other hand, are not too confident about their ability to sustain growth beyond the first quarter as summer holiday and IPL impact during April/May are one-off events. Its other businesses, however, continue to display good growth. Blinkit’s gross order value grew 17% QoQ, while order volume grew 24%. Revenues of Hyperpure, its business to supply ingredients to restaurants, grew 13.5% QoQ. Offsetting margins with growth While it’s on a path to profitability, Zomato is also caught between a rock and a hard place — of growth versus margins. To boost growth, it will have to go in for discounts – the lack of aggressive discounting by all players is already visible in the moderation in food ordered during the IPL season, generally a big occasion for online food platforms. This year, the IPL spike in food ordering was at a modest 7% for the industry as compared to the 2020 IPL when it was over 50%, as per Redseer. This time, there were no high <a href="https://www.businessinsider.in/business/news/ipl-2023-sees-tier-2-cities-order-more-on-swiggy-zomato/articleshow/100673879.cms">decibel ads along with deep discounts.</a> Like other players in the business, the company will also find it tough to keep up with the high margin trajectory, while also chasing growth. “Overall, we lower our growth assumptions for its food delivery’s gross order value growth, from around 20% to around 17%, but raise our FY24F contributory margin estimate from 5.8% to 6.5%. We continue to believe Zomato will find it difficult to achieve double-digit contributory margin, with high growth in the long term,” said Nomura. Restaurant commissions grow but may hit an ONDC wall In the last two years, the company was also able to improve take rates or the commissions it charges restaurants consistently. Its take rates are now close to 18%. “Broadly, with our take rates, the mission is to be competitive, and we are lower than what the competition is charging. So, as we continue to add more value to restaurant businesses, we expect some improvement in commission revenue going forward,” said Goyal. But competition is heating up in the sector. The Department for Promotion of Industry and Internal Trade’s Open Network for Digital Commerce (ONDC) has breached the territory that was hitherto dominated by Zomato along with Swiggy. On the face of it, it might seem like restaurants might be offered better terms on ONDC. While Zomato will be able to compete with ONDC on efficiency and also even overall costs – as third party deliveries might be costlier– HSBC Global Research believes that it might flatten growth. “Estimates for food delivery revenue in the long term remain largely unchanged. Our short-term estimates change slightly as we build in a marginally slower increase in take rate,” the research firm said. In spite of short-term and long-term challenges ahead, Zomato seems to have settled into its listed company status to deliver value to investors by chasing topline growth instead of customers, with discounts.

With Zomato rallying over 25% in the past month, street looks at the road ahead

<ul><li>The company said 26,000 users in India bought gold membership. </li><li>Under the <keyword id="4299597" type="PERSON" weightage="20" keywordseo="Zomato-Gold">Zomato Gold</keyword> support fund, the company had offered 1-year free membership for all gold subscriptions bought in April. </li><li>The money will be donated to over 3100 restaurant workers across the country. </li></ul>Indian foodtech unicorn <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> said that it sold ₹2.6 crore worth of Zomato Gold memberships in April, 2020 alone. Now, the money will be donated to over 3100 restaurant workers across the country. The company said 26,000 users in India bought gold membership. Under the Zomato Gold support fund, the company had offered 1-year free membership for all gold subscriptions bought in April. “All funds collected as part of this initiative have already been disbursed to over 3100 restaurant workers from 378 <keyword id="34615" type="ORGANIZATION" weightage="20" keywordseo="restaurants">restaurants</keyword>, helping them meet their daily livelihoods,” said Zomato’s statement. The <keyword id="446560" type="PERSON" weightage="20" keywordseo="restaurant-industry">restaurant industry</keyword> has been badly hit due to the coronavirus pandemic. While some restaurants have been open for home delivery, dining in has not been an option ever since the <keyword id="8637077" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-lockdown">coronavirus lockdown</keyword> began. The industry is also anticipating huge drop in footfalls even after lockdown as people remain cautious of visiting crowded spaces. Zomato also said that it is contributing 10% of the collections, or ₹26.5 lakhs, to the NRAI Covid-19 Relief Fund – an initiative set up by the NRAI to support restaurant workers and their families impacted by COVID-19. Interestingly, the Gold membership was the reason why Zomato and the NRAI were in a tiff for most of 2019. The increasing discounts offered by Zomato through its gold offering had irked restaurant owners for cutting into their revenue. For all existing Gold users, the company had extended their membership as restaurants are shut across the country. Meanwhile, Zomato had also set up the ‘Feed the Daily wager’ fund and the rider relief fund. For the daily wager fund, Zomato has already crowdsourced over ₹30 crore. See Also: <a href="https://www.businessinsider.in/india/news/people-in-bengaluru-can-now-take-home-freshly-brewed-beer-starting-may-14-conditions-applied/articleshow/75734800.cms">People in Bengaluru can now take home freshly brewed beer starting May 14 — conditions applied</a> <a href="https://www.businessinsider.in/business/startups/news/makemytrip-will-now-deliver-food-jumps-into-the-ring-where-zomato-and-swiggy-are-already-fighting-it-out/articleshow/75733805.cms">MakeMyTrip will now deliver food – jumps into the ring where Zomato and Swiggy are already fighting it out</a>

Zomato sold ₹2.6 crore worth Gold memberships in April – all of it will be donated to restaurant workers

<ul><li>Fintech companies like Paytm and PB Fintech have not only reported better than expected earnings but also narrowed their losses significantly.</li><li>While Zomato and Nykaa did not deliver overall improvement in financials, analysts still have high hopes for them.</li><li>Shares of Paytm rose nearly 22% from February 3 when it reported its quarterly earnings.</li><li>Analysts say the long-term growth potential of these companies is huge in spite of the short-term challenges.</li></ul>There’s no end to the woes of new age technology companies. They are in the spotlight yet again, after their mixed performance during the December quarter. Fintech companies like Paytm and PB Fintech have not only reported better than expected earnings but also narrowed their losses significantly. Zomato and Nykaa did not deliver overall improvement in financials, but analysts remain optimistic. Another new age company among talks is hyperlocal delivery startup Dunzo with elevated losses and massive valuation. Billionaire and chairperson of RPG Group highlighted the financials of the company <a href="https://twitter.com/hvgoenka/status/1625843597626183680">in a tweet </a>on February 15. “New age digital stocks are not doing great primarily because the market is not doing great. India is underperforming this year with a negative 2.34 % return YTD while markets like China, HongKong and South Korea are doing very well. When India’s underperformance changes, new age digital companies also will start performing. Some results from this segment are very good like Paytm. Zomato also has done reasonably well, but Nykaa’s results came below expectations,” said Dr V K Vijayakumar, chief investment strategist at Geojit Financial Services. New age technology companies have been under the scanner because of the massive underperformance in their share prices due to elevated valuation. However, analysts believe that the long term bet on these companies is worth it despite several roadblocks. “The long-term growth potential of these companies is huge and, therefore, in spite of the short-term challenges, these stocks have buyers particularly after the sharp correction from their listing peak prices,” added Vijayakumar. <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;">New age companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY23 Profit/Loss </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;">Q3 FY22 Profit/Loss </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;">Paytm </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;">-₹392 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;">-₹779 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;">Zomato </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;">-₹347 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;">-₹63 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;">PB Fintech (Policybazaar) </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;">-₹87 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;">-₹298 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;">Nykaa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8.2 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;">₹27.9 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Paytm’s first ever quarterly operating profit impresses, builds hope The fintech company’s December quarter performance was a big surprise for many as it posted its first ever quarterly operating profit as it narrowed down losses. The growth was driven by pick up in merchant subscription revenues and loan distribution. “Biggest surprise is distribution business, control of cashbacks, opex,” said Macquarie in a report. Shares of the company rose nearly 22% from February 3 when it reported its quarterly earnings. Macquarie has upgraded rating on the company’s stock to ‘Outperform’ from ‘Underperform’ with a target price of ₹800. “PayTM has positively surprised on the distribution of financial services revenue by a wide margin and has also managed to control overall expenses and charges. At the time of listing, profit and free cash flow were not even a part of management’s discussion. However, we see a very visible change in approach of management to deliver profit, evidenced, we believe, by the core EBIDTA profitability that was reported recently,” said Macquarie in a report. Zomato: A promising road to profitability Zomato reported better than expected Q3 FY23 revenues, and analysts believe it may reach profitability by the end of the current financial year. “Depending on execution-related wins, the company (ex of quick commerce) may clock profitability in Q4FY23 itself, two quarters ahead of their guidance,” said analysts at Nuvama Institutional Equities. “Zomato’s road to profitability has grown even more promising. Zomato (ex-quick commerce) clocked adj. EBITDA level profitability in the month of Jan-23. Depending on execution-related wins, the company (ex of quick commerce) may clock profitability in Q4FY23 itself, two quarters ahead of their guidance,” added the report. Analysts say Zomato’s relaunch of its Gold membership plan should bring growth back. Most brokerage houses have <a href="https://www.businessinsider.in/business/news/no-long-tail-effect-zomato-banks-on-demand-recovery-in-future-even-as-it-shuts-operations-in-225-cities-on-poor-performance/articleshow/97907071.cms">maintained a ‘Buy’ rating </a>on the company’s stock. “The fact that most of these companies have put forth their strategy to cut down losses and become profitable in the near future builds hope for investors. For example, Zomato’s decision to cut operations in 225 smaller cities. Moreover, since most of these <keyword id="10951575" type="General" weightage="20" keywordseo="new-age-tech-companies" source="Orion">new age tech companies</keyword> are direct consumer based there are expectations of inflation cooling down and boosting consumer spend.” Shrikant Chouhan, head of equity research (retail) at Kotak Securities told Business Insider India. Nykaa: Premium valuation reflects solid outlook, say analysts Nykaa, reported a 70% on year decline in net profit in Q3 <a href="https://www.businessinsider.in/business/corporates/news/nykaas-stock-plunges-4-2-after-its-q3-net-profit-slips-70/articleshow/97901748.cms">missing analysts expectations</a>. Despite this, brokerages believe the best is yet to come for the company. During a post-earnings conference call Falguni Nayar, executive chairperson, MD and CEO of Nykaa said that although inflationary pressures were present, it wasn’t that big of an issue for many of Nykaa’s customers. Q3 is considered to be a seasonal quarter for the company because of the festive season and despite macro challenges Nykaa’s growth was applauded by analysts. “In a quarter rampaged by a tougher macroeconomic environment, Nykaa reported substantial growth in Q3FY23 numbers,” said a report by JM Financial. The brokerage firm has assigned a ‘Buy’ rating on the stock. “We continue to see increased strength of the dominant positioning in beauty and personal care (BPC) vertical while the newcomer, fashion vertical, has gained market share at the cost of a sharp dip in contribution margin,” added the report. Nykaa’s EBITDA margins came under pressure and fell to 5.3% in Q3, as against 6.3% in the same period last year. “While we expect Nykaa’s GMV growth, at 35% in FY23E-25E, to be the highest within our global ecommerce coverage, we believe Nykaa’s valuation premium (FY24 EV/GMV of 3.1x vs 0.5x median for peers) already reflects this solid growth outlook and Nykaa’s stronger margin profile,” said a report by Goldman Sachs. The investment banker has assigned a ‘Neutral’ rating on the stock. PB Fintech on course to profitability soon The December quarter performance of PB Fintech, the parent company of Policybazaar and Paisabazaar, was another surprise for investors as the company narrowed its losses significantly. Its insurance premiums jumped 70.3% on year to ₹30.3 billion driven by a strong showing across segments. “Given its market share of 90%-plus in online insurance sales and a growing offline presence, PB is poised to post strong sales,” said analysts at Nuvama Institutional Equities. Further, the management expects revenue and margins to improve further as agent productivity rises and benefits of appointments channel are realised. They hinted at a sharp profitability uptick in Q4, say analysts. “This growth becomes even more impressive considering the seasonally weak Q3 for insurance, where new business premiums for life and general insurance declined QoQ by 19% and 12%, respectively,” said a report by JM Financial. New-age internet based businesses, like their unlisted peers, have been chalking out strategies that lead them towards profitability and are already on a growth path aided by their unique business propositions — allaying investor and analyst concerns. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/google-india-layoffs-nearly-500-people-fired/articleshow/98001522.cms">Google layoffs reach Indian shores, nearly 500 employees sacked late Thursday</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/neal-mohan-indian-american-guy-journey-to-becoming-youtube-ceo/slidelist/98001073.cms">From Lucknow to USA: Indian-American Neal Mohan’s journey to becoming YouTube CEO</a>

New age technology companies back in the spotlight after Q3 performance

New Delhi, Jun 30 () Online restaurant guide and food ordering platform Zomato on Tuesday said it has rechristened its membership programme Zomato Gold to Zomato Pro to include more discounts and privileges. "All Zomato Gold members across 10 countries will automatically get upgraded to Zomato Pro starting August 1, 2020," Zomato Co-founder and COO Gaurav Gupta said in a blog post. The company has launched an initiative to rechristen Zomato Gold to Zomato Pro - and make it a bigger, better all-encompassing membership that unlocks amazing privileges and discounts at the best restaurants across dining out and delivery, he added. This is in addition to some never-seen-before exclusive privileges on the Zomato app and a unique money-back guarantee for all Pro members, Gupta said. Zomato Pro members will continue to enjoy existing offers (on Zomato Gold) across a wide selection of restaurants, he added. Zomato Pro has been designed to be much more friendly for a wider variety of restaurant businesses, Gupta said. "We have signed up around 50 per cent more partner restaurants on Zomato Pro than what we had on Zomato Gold – across dining out and delivery," he added. The restaurant industry is struggling during the COVID-19 crisis, and "we hope that Zomato Pro can be one of the most important levers to drive growth, and help restaurant businesses cover up the losses incurred in the last few months," Gupta said. Pro members will get access to exclusive delivery offers, which will now be over and above any deals available to other Zomato users. Pro members will also get priority delivery on Zomato, he added. "....we are so confident about Zomato Pro that it will come packed with a novel money-back guarantee - if you don't save 2x the subscription fee of Zomato Pro within the subscription period, we will auto-refund your subscription fee at the end of the year...," Gupta said. The company had launched its Zomato Gold programme in 2017. The programme had been extended to food delivery in September 2019, a move slammed by the industry body National Restaurant Association of India (NRAI). NRAI had said the programme promoted deep discounts, the cost of which is borne solely by the restaurant partners. AKT RUJ RUJ

Zomato rechristens membership programme Gold to Zomato Pro

Indian restaurant aggregator and food delivery startup <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> recently acquired <keyword id="4427948" type="PERSON" weightage="20" keywordseo="uber-eats">Uber Eats</keyword>. The deal makes Zomato the market leader in the Indian food delivery industry, dethroning Swiggy. In return, Uber gets a 9.9% stake in Zomato. “This acquisition significantly strengthens our position in the category,” said Deepinder Goyal, Founder and CEO, Zomato. <keyword id="8652341" type="UNKNOWN" weightage="20" keywordseo="Free-Zomato-Gold">Free Zomato Gold</keyword> offer eligibility criteria To celebrate the <a href="https://www.businessinsider.in/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms?src=hp_toon">acquisition</a> of Uber Eats in India, the company is offering free <keyword id="4299597" type="PERSON" weightage="20" keywordseo="Zomato-Gold">Zomato Gold</keyword> subscriptions to Uber Eats users. If you ordered food using Uber Eats after July 1, 2019, you can avail the free Zomato Gold offer. As part of this, you get three months of Zomato Gold subscription for free and 50% off on your next three orders. It is worth noting that neither Zomato nor Uber Eats have sent out any message or email to Uber Eats users informing them about this offer. How to get Zomato Gold for free <div type="image" title="photo_2020-01-26_12-22-52" msid="73630349" hostid="261"></div>

 All you have to do is follow these simple steps to get your free Zomato Gold subscription: <ul><li>Make sure you have both Zomato and Uber Eats apps installed on your phone. </li><li>Now open the Uber Eats app and login to your account. </li><li>Tap on the ‘Go to Zomato’ button. </li><li>In the Zomato app, login with the same email address and phone number that you’ve used in Uber Eats. </li><li>You will get three months of Zomato Gold added to your account. </li></ul>Note: This offer is only available for Uber Eats users, not existing Zomato users. However, our investigations suggest that this offer is working for existing Zomato users as well. If you are unable to claim the free Zomato Gold offer, try logging out of the Zomato app and going through the above steps once again. It is recommended that you have the latest updates of both the apps installed. See also: <a href="https://www.businessinsider.in/business/startups/news/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms">Uber couldn’t do what Ola did – instead joins hands with Zomato to leave behind Swiggy</a> <a href="https://www.businessinsider.in/ola-is-shedding-flab-getting-a-makeover-as-it-rides-to-a-big-bang-ipo-in-2-years/articleshow/72292401.cms">Ola is shedding flab and getting a makeover as it rides to a big-bang IPO in 2 years</a>

How to get Zomato Gold for free

After initial hiccups, Zomato has started grocery delivery in over 80 Indian cities with supplying essentials and is set to launch takeaway service in Australia and Portugal to support restaurants, its CEO Deepinder Goyal said on Tuesday. He said that all proceeds from the Zomato Gold subscriptions in April would go towards supporting restaurant workers in need and the users will get an additional year of Gold free. "This has already been launched in India and the UAE, and will be live in other markets over the next few days," the Zomato CEO said in a statement. "The world has come to a halt, and unfortunately, the restaurant industry that we are in, is one of the worst hit. It is in times like these when we really need to rise to the occasion and support each other to the best of our abilities," Goyal emphasized. The fool delivery platform has extended all paid Zomato Gold memberships by two months at zero cost. This will be valid across India, the UAE, Australia, Indonesia, Philippines, Lebanon, Turkey, New Zealand, Portugal and Qatar. The company's "Feed the Daily Wager" initiative has raised Rs 25 crore from individuals and corporates. "We have already distributed more than 100,000 ration kits (to the same number of daily wager families) in more than 20 cities as of now," informed Goyal, adding the company plans to distribute 10 lakh ration kits as part of this initiative. See also: <a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/coronavirus-cases-in-india-news-data-and-updates-april-7-2020/articleshow/75021455.cms">India’s Covid-19 cases rise to 4861 and Maharashtra is the worst hit with 748 active cases</a>

Zomato starts delivering groceries in 80 Indian cities

<ul><li>The Indian <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">foodtech</keyword> war has intensified after <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> acquired <keyword id="2960214" type="PERSON" weightage="20" keywordseo="ubereats">UberEats</keyword>. </li><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> has a smart strategy to win the race - staying away from excessive discounts to focus only on growth.</li><li>While the recent Zomato-Ubereats deal claims to have given Zomato a 55% market share, Swiggy has 60% revenue share with almost 45 million monthly transactions, sources told Business Insider. </li></ul>If you thought that the Indian foodtech war has ended with the<a href="https://www.businessinsider.in/business/startups/news/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms?src=hp_toon"> Zomato-UberEats acquisition</a>, think again. It has intensified the race to become India’s largest food delivery startup. This time around though, players might stay away from the price game. Swiggy in fact has a strategy - to stay away from excessive discounts and focus on growth. Recently, <a href="https://www.businessinsider.in/business/startups/news/swiggy-admits-that-online-prices-of-food-on-its-platform-are-higher-than-at-a-restaurant/articleshow/73509436.cms">Swiggy </a>made an unlikely admission on Twitter after a user asked if the menu prices were higher on the platform. The foodtech unicorn <a href="https://twitter.com/SwiggyCares/status/1219150220811894784?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1219150220811894784&amp;ref_url=https%3A%2F%2Fwww.livemint.com%2Fnews%2Findia%2Fswiggy-explains-why-its-online-food-price-might-be-higher-than-restaurant-rates-11579583470706.html">replied, </a>“The prices might be different online and offline as it is the sole discretion of the restaurant without any added input from our end.” It shows that Swiggy is not shy of charging for its services. “Our growth comes from having created the category and the trust the ecosystem has in what we’re offering. Discounts are a tactical lever and are something we’ve never relied on for growth,” Srivats TS, VP marketing of Swiggy, told Business Insider. Srivats added that the company’s focus has been on building different categories for consumers. Today, they have multiple offerings like – Swiggy Pop, affordable single serve offerings, Swiggy Access, the cloud kitchen service, Swiggy Stores and Swiggy Go. These categories traverse across food and grocery delivery. “As a result of all of this, we’ve become the most loved food delivery brand in the country and continue to strengthen our strong leadership position,” he said. Market share versus revenue market share The recent Zomato-Ubereats deal claims to have given Swiggy’s closest competitor - Zomato - <a href="https://www.businessinsider.in/business/startups/news/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms">a 55% market share</a>. But sources told Business Insider that Swiggy still holds 60% revenue share with almost 45 million monthly transactions. “With respect to the user base and the partner restaurant base, there is a significant overlap between players. When the Zomato-Ubereats deal happened, the users from the order could have gone to Zomato or Swiggy. The fact that Zomato has access to the database of the users or that they are being redirected from the UberEats platform, does give Zomato an edge. Swiggy has a lead right now in terms of revenue share,” said Rohan Agarwal, Director, RedSeer. Zomato might still be discounting, but in a phased manner. In order to retain customers migrating out of UberEats, Zomato is also offering three months of Gold subscription – a feature which was in the <a href="https://www.businessinsider.in/zomato-gold-founder-deepinder-goyal-attacks-nrai-chief-beer-cafes-rahul-singh/articleshow/70787792.cms">middle of all controversies in 2019.</a> In the second half of 2019, food aggregators like Zomato, Swiggy, EazyDiner found themselves in the middle of a turmoil with the National Restaurants Association of India calling them out for their discounts. The NRAI had then launched a logout movement against Zomato over its Gold offering and discounts. Emotional affinity over discounts Swiggy however insists that even with its branding and communication, it has never driven home the message of discounts but has instead focussed on emotional affinity, resonance with consumers, and occasions. “Utilizing our high consumer engagement which is the best across ecommerce platforms in the country, higher revenue share within restaurants, increased penetration in Tier II and III markets, high repeat rates and capabilities to deliver convenience across the board puts us in a strategically advantageous position to become the convenience app of choice for consumers, making high growth rates for the company possible and sustainable,” said Srivats. Analysts too believe that the real race has only begun now. Agarwal said that in the pecking order, the gap has just narrowed down. “It remains for us to see how it pans out in the next couple of months. The perspective of this event is that this is going to drive the industry towards profitability. It’s easier when there are fewer players, especially when the competitive intensity is lower,” he said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/uber-couldnt-do-what-ola-did-instead-sells-ubereats-to-zomato-to-leave-behind-swiggy/articleshow/73468841.cms">Uber couldn’t do what Ola did – instead joins hands with Zomato to leave behind Swiggy</a>

Swiggy says it's the most loved brand and doesn’t need discounts

<ul><li><keyword id="2821082" type="General" weightage="100" keywordseo="eazydiner" source="Orion">EazyDiner</keyword> raised ₹40 crore from DMI Alternative Investment Fund.</li><li>The company currently has 12,000 restaurants onboard across India and Dubai.</li><li>The company will use the fresh funding to expand its reach in India and the Middle East.</li></ul>Online restaurant table reservation and payments platform EazyDiner said that it has raised ₹40 crore in a new round of funding from DMI Alternative Investment Fund - The Sparkle Fund. EazyDiner, founded by Kapil Chopra and a group of restaurateurs and hoteliers in 2014 allows users to discover restaurants, reserve a table and even pay for the food using the company’s PayEazy service. “With the latest funding round, EazyDiner is well-positioned to grow exponentially and add new features to make it even more rewarding for consumers and restaurant partners to encourage eating out at great restaurants,” said Kapil Chopra, founder and CEO of EazyDiner. EazyDiner, which reportedly has over 3 million users, has claimed that it serves more customers than any other app. The company competes with Zomato, which offers dining benefits as part of its<a href="https://www.businessinsider.in/tech/apps/news/zomato-gold-re-launched-with-free-deliveries-vip-access-up-to-40-discount-on-dining-and-more/articleshow/97273088.cms"> Gold subscription</a> and Dineout, which was <a href="https://www.businessinsider.in/business/startups/news/swiggy-enters-high-end-dining-market-with-200-million-acquisition-of-dineout/articleshow/91541316.cms">acquired</a> by Swiggy in 2022. <cmsannotation type="cmsannotation" annotationid="Funding to accelerate growth &amp; expand reach" comment="subhead" text="Funding to accelerate growth &amp; expand reach">Funding to accelerate growth &amp; expand reach</cmsannotation> The company has partnered with over 12,000 restaurants across India and Dubai. With the latest round of funding, it is looking to accelerate growth and expand its reach. Out of the 12,000 restaurants, 700 restaurants are located across Dubai and Abu Dhabi. “The latest funding round will accelerate the company's growth and scale its operations to new markets in cities across India,” added Chopra. The company currently offers table reservations and payments in 30 cities and aims to increase it by over three times and cover 100 cities by the end of 2023. EazyDiner had also launched a co-branded credit card along with IndusInd Bank in 2022. The card offers users EazyDiner Prime membership and a discount of up to 50% across 2,000 restaurants. “We are excited to partner with the EazyDiner team as they scale their business pan India and internationally. The Sparkle Fund is always on the lookout for companies that have a vision to innovate in the financial services ecosystem and with EazyDiner, the future of eating out looks promising,” says Shivashish Chatterjee, co-founder, DMI Finance. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/how-to-check-tds-dividend-income-and-income-tax-refund-using-the-ais-for-taxpayers-app/articleshow/99025288.cms">How to check TDS, dividend income, and income tax refund using the AIS for Taxpayers app</a> <a href="https://www.businessinsider.in/business/startups/news/ashneer-grovers-new-startup-crickpe-is-a-fantasy-sports-app-that-will-also-reward-cricketers/articleshow/98964195.cms">Ashneer Grover's new startup CrickPe is a fantasy sports app that will also reward cricketers</a> <a href="https://www.businessinsider.in/tech/news/here-are-the-jobs-chatgpt-says-ai-can-take-from-humans/slidelist/99087522.cms">We asked ChatGPT about jobs that AI can take over from humans – This was its answer</a>

EazyDiner raises ₹40 crore from DMI Alternative Investment Fund

Telecom operator Bharti <keyword id="15491" type="General" weightage="100" keywordseo="airtel" source="Orion">Airtel</keyword> overtook <keyword id="6354504" type="General" weightage="50" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> in <keyword id="764355" type="General" weightage="20" keywordseo="5G" source="Orion">5G</keyword> roll-out with the expansion of the network to additional 235 cities, taking its total reach to 500 cities. Reliance Jio has so far announced the expansion of its ultra high-speed fifth generation (5G) network to 406 cities. "Bharti Airtel...ultra-fast 5G service is available to customers in 500 cities in the country. Airtel added 235 cities to its network, making it one of the largest roll-outs to date," the company said in a statement. Airtel said that it is adding 30-40 cities on its 5G network daily. "Airtel was the first to offer 5G services in October 2022, and today's mega launch is our promise to connect every Airtel customer in the country with ultra-fast <keyword id="4237866" type="General" weightage="20" keywordseo="Airtel-5G" source="Orion">Airtel 5G</keyword> Plus. We have already covered 500 cities and are adding 30 to 40 cities every single day. By September of 2023, we expect to expand our 5G footprint to all of urban India," Bharti Airtel CTO Randeep Sekhon said. According to industry players, India has become the fastest country in the world to roll-out 5G networks. Against the target of rolling out 5G in 200 cities before March 31 set by the government, the service is now available in over 900 cities. Airtel said that its 5G Plus runs on a technology that has the widest acceptance in the world with the most developed ecosystem which ensures that all 5G smartphones in India seamlessly work on the Airtel network. "Second, the company promises to deliver the best experience - between 20 to 30 times higher speeds than today (compared to 4G) coupled with a brilliant voice experience and super-fast call connect," the statement said. Airtel has also removed the 5G data usage limit cap to match with Jio's offer. Earlier 5G data usage was limited to the same as the daily quota which customers had in their 4G subscription plan. "Customers will now be able to experience ultra-fast, reliable and secure 5G Plus services without having to worry about data exhaustion as the company removes the capping on data usage across all existing plans," the statement said. The company has also deployed the first 5G private network at Bosch facility in Bengaluru, and also at Mahindra &amp; Mahindra's Chakan manufacturing facility to make it the first 5G-enabled auto manufacturing unit. SEE ALSO: <a href="https://www.businessinsider.in/business/news/debt-schemes-of-mfs-lose-edge-over-bank-deposits-as-budget-proposes-to-scrap-ltcg-indexation-benefits/articleshow/98965932.cms">Debt schemes of MFs lose edge over bank deposits as Budget proposes to scrap LTCG &amp; indexation benefits</a> <a href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a> <a href="https://www.businessinsider.in/stock-market/news/back-to-square-one-nifty-circles-back-to-levels-last-seen-in-september-2021-markets-likely-to-end-2023-in-the-red/articleshow/98898424.cms">Back to Square One: Nifty circles back to levels last seen in September 2021, markets likely to end 2023 in the red</a>

Airtel pips Jio in 5G rollout, reaches 500 cities across the country

<ul><li>The three-day public issue will begin on March 16 and end on March 18.</li><li><keyword id="413856" type="COMPANY" weightage="20" keywordseo="Kalyan-Jewellers">Kalyan Jewellers</keyword> designs, manufactures and sells a wide range of gold, studded and other jewellery products.</li><li>The IPO comprises fresh issuance of equity aggregating up to ₹800 crore and an offer for sale (OFS) worth ₹375 crore.</li></ul>The ₹1,175 crore initial share-sale of Kalyan Jewellers India is set to open for public subscription on March 16. The three-day public issue would conclude on March 18, and the bidding for anchor investors would open on March 15. The company said, on Thursday, that it has fixed a price band of ₹86-87 a share. The IPO comprises fresh issuance of equity aggregating up to ₹800 crore and an offer for sale (OFS) worth ₹375 crore. The company’s promoter, T S Kalyanaraman, would be offloading shares worth up to ₹125 crore, while Warburg Pincus affiliate Highdell Investment would sell up to ₹250 crore worth of shares through the OFS route. The company also plans to reserve shares worth ₹2 crore for eligible employees. <keyword id="9681214" type="UNKNOWN" weightage="20" keywordseo="kalyan-jewellers-ipo">Kalyan Jewellers IPO</keyword> opens next week <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;">Particulars </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;">Issue details </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;">Opens on </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;">March 16 </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;">Closes on </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;">March 18 </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;">Price band </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;">₹86-87 per share </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;">Minimum bid </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;">172 equity shares </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;">Reservation for qualified institutional buyers </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;">50% </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;">Reservation for non-institutional buyers </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;">15% </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;">Reservation for retail 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;">35% </td></tr></tbody></table> Kalyan Jewellers designs, manufactures and sells a wide range of gold, studded and other jewellery products. The company started the jewellery business in 1993 with a single showroom in Thrissur district in Kerala and has now completed over 25 years in the jewellery industry with 107 showrooms located across 21 states and union territories. Founded by TS Kalyanaraman, who has over 45 years of retail experience, the company has an international presence with 30 showrooms located in the middle East as of December 2020. Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global co-ordinators and book running lead managers to the offer. In August last year, Kalyan Jewellers had filed preliminary papers for the IPO and obtained Securities and Exchange Board of India’s (SEBI) go-ahead in October. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/zomato-delivery-executive-arrested-by-bengaluru-police-for-allegedly-assaulting-content-creator/articleshow/81445459.cms">Zomato delivery executive arrested by Bengaluru Police for allegedly assaulting content creator</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/qualcomms-next-snapdragon-chipset-aims-to-take-on-apples-silicon-m1-chip/articleshow/81444486.cms">Qualcomm's next Snapdragon chipset aims to take on Apple's Silicon M1 chip</a>

You Searched For "zomato gold subscription" and got 12 results

Zomato Gold re-launched with free deliveries, VIP access, up to 40% discount on dining, and more

Sourabh Jain

Zomato stops new users, renewals for its loyalty dining programme Pro

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