<ul><li>The stock listed at ₹819 as compared to its issue price of ₹792 per share.</li><li>Its market cap is at ₹3,307 crore, according to Bombay Stock Exchange.</li><li>The ₹490 crore IPO was subscribed 23.86 times the shares on offer. </li></ul><keyword id="12709709" type="General" weightage="20" keywordseo="protean-egov-technologies" source="Orion">Protean eGov Technologies</keyword> opened at 3% premium on Monday on the first day of Samvat 2080. The stock listed at ₹819 as compared to its issue price of ₹792 per share in early morning trade. However, the stock gained during the trading session to close 11% above its listing price. The grey market was expecting 10% listing gains from the stock. Its market cap is at ₹3,307 crore, according to Bombay Stock Exchange. The stock listed only on BSE. The listing performance of the recent debuts had been mixed with a few hits and misses. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><thead><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Company </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Listing gains </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">ESAF Small Finance Bank </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">15% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Honasa Consumer </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Cello World </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Blue Jet Healthcare </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">14.4% </th></tr><tr><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">IRM Energy </th><th style="border-width: 0.999997pt; border-style: solid; border-color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">-5% </th></tr></thead><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> <keyword id="12812487" type="General" weightage="20" keywordseo="protean-egov-technologies-ipo" source="Orion">Protean eGov Technologies IPO</keyword> price band was fixed at ₹752-792 per share. The company has no listed peers in the market. Ahead of the IPO, it raised ₹143 crore from anchor investors like BI General Insurance Company, SBI Life Insurance Company, Aditya Birla Sun Life Insurance Company, LIC Mutual Fund and Baroda BNP Paribas Mutual Fund. “There has been a manifold increase in digital payments in the recent past. To further boost digital transactions, the finance minister in Union Budget 2023-2024 earmarked ₹115.4 billion to bolster the digital India initiative of which ₹1.5 billion are proposed to provide financial incentive to promote digital mode of payments,” the company said in its RHP. The company is a market leader in universal, citizen centric and population scale e-governance solutions. It has 45% market share in PAN allocation. Since inception in 2023, it has managed 19 projects spread across seven ministries and autonomous bodies. It’s been the chief architect and implementer for critical and large-scale technology infrastructure projects in the country. It collaborates with the government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. “At the upper price band, the company is valued at a P/E ratio of 29.9 of its FY23 earnings with a market cap of ₹32,034 million post issue of equity shares. We believe that the issue is fairly priced and recommend ‘Subscribe –Long Term’ rating to the IPO,” said a report by Anand Rathi. The government is also setting up various initiatives such as setting up of 75 digital banking units in 75 districts across the country by scheduled banks and 100% inclusion of post-offices under the core banking systems thus providing features such as net banking, mobile banking, ATMs, and also provide online transfer of funds between post office accounts and bank accounts have been taken.

Protean eGov Technologies closes debut day with 11% listing gains

<ul><li>Consumers are looking for toxin-free beauty products, and those that suit their specific skin colour.</li><li>They also choose brands based on ingredients, with prominence of genderless beauty and more.</li><li>Pure play beauty and personal care companies are capturing these trends better than their FMCG peers. </li></ul>Gone are the days when every second home housed the same popular shampoo, face cream and soap brands. The new-age consumers, driven by the rising incomes of the middle class, seek beauty products that offer personalization – instead of buying off the rack. A report by <keyword id="3359665" type="General" weightage="80" keywordseo="redseer" source="Orion">Redseer</keyword> and Peak XV says that consumers are looking for toxin-free products, products that suit their specific skin colour (as opposed to fair &amp; lovely preferences); with an increasing prominence for genderless beauty. There is also a trend wherein consumers are making ingredient-specific purchases, the report adds. Moreso, they are also exposed to tech that allows for customization into products like serums which can make the ‘best fit’. "From acne management to anti-ageing solutions, specialized use cases are where we're seeing a lot of the action. Brands are spending a significant portion of their resources and organisation bandwidth on new product development, R&amp;D, and customer insights to drive more efficacious products to a targeted audience," says Sakshi Chopra, MD, Peak XV. The market share of such specific use case products is expected to be around 60% by 2027, Redseer predicts. “Globally, there's a growing need among consumers for products 'made for them', tailored to individual skin or body types. They are increasingly willing to pay premiums for effective and safe solutions, leading to rapid growth in the masstige and premium categories,” said Rohan Agarwal, Partner, Redseer Strategy Consultants. Skin in the game So, who is winning the game that’s rapidly changing? Undoubtedly, pure-play beauty companies have more skin in this game — like L'oreal, Honasa (Mamaearth) and <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> as opposed to HUL. The average revenue growth that pure-play BPC companies saw between 2022-2027 is at 10% – that’s five times what FMCG companies in the business see, at 2%. They already have 33% of the market – which is expected to rise to 42% by 2027. The reasons for their ability to disrupt the market are many. For one, pure play companies are able to capture the trend of moving to masstige and premium products better with faster R&amp;D and product development. Some of them have been able to shorten time to market by 50%, the report says. This way, they are able to target a greater number of specific use cases — helping them curb a larger share of the rapidly fragmenting market. As the market breaks off from being ‘mass’, the channels to approach them are just as important as the product itself. Fortunately, a large chunk of these new-age customers are already online. The Indian BPC market is at $30 billion and a third of it — $10 billion is purchased online. There are over 150 million online BPC customers in India. A lot of successful beauty brands are not content on just ‘being online’ and offline – they’re meeting their customers via live commerce, VR/AR stores on metaverse and more. German company <keyword id="244393" type="General" weightage="80" keywordseo="beiersdorf" source="Orion">Beiersdorf</keyword> launched a personalized AI powered D2C brand using data from multiple customer surveys. Pure-play brands also spend a lot more on marketing as they build brands by educating and creating awareness — clinching the secret to make people feel good as well as looking good.

Beauty is in the detail: How tailor-made products are taking over the market

<ul><li>The festive season will give a further fillip to the real estate sector that’s been on an upswing all year, say experts.</li><li>Most developers expect this year’s festive sales to be anywhere between 10-20% higher than last year.</li><li>More large-sized projects were launched by developers to gain from the festive mood. </li></ul>Indian real estate players are witnessing bumper festive season sales, with new launches, offers and more. The auspicious festive season generally sees almost a quarter of annual home sales. And, it seems to have gotten off to a good start. According to <keyword id="6363605" type="General" weightage="20" keywordseo="knight-frank" source="Orion">Knight Frank</keyword>, the property registrations in the first nine days of Navratri were 37% higher than the last year in Mumbai with 4,594 registrations. Experts expect all the top seven metro cities to see a strong sales growth in the season that extends through mid-October to mid-December. The consumer sentiment has already been strong this year. The first nine months of 2023, home sales touched 91% of 2022 annual sales across the top seven cities. This is the highest it has been since 2008, according to JLL. “With sales volumes holding strong so far this year, moderately increasing property price and stable policy interest rate would serve as the key catalysts for the housing market for the remainder of this year,” said Shishir Baijal, CMD of Knight Frank India. Developers already witnessing a surge Real estate developers have been looking forward to the festive season to hit top gear in sales. Ramani Sastri, CMD of Sterling Developers said that they are expecting a significant growth this year. “As we approach the festive season, we are already witnessing a surge in inquiries and we are expecting around 20% growth compared to last year’s festive season,” he added. Lincoln Bennet Rodrigues, chairman &amp; founder of The Bennet &amp; Bernard Company said that there is an over 8-10% increase in the number of properties being purchased or booked. “During this time of the year, 30-40% of our annual sales occur. Needless to say, as a developer, we are looking forward to the upcoming festive days,” he added. To gain from the sentiment, developers have stepped up on new launches too. As per Anarock Research, as many as 711 residential projects comprising approximately 1.16 lakh units were launched across the top seven cities in Q3 2023. In the same period last year, 701 projects were launched comprising 93,290 units. “While the difference between the number of projects launched in both the periods was not very significant, the number of units launched in Q3 2023 was at least 24% more than Q3 2022. Thus, the underlying trend is that this year in Q3 2023, many large-size projects were launched,” Anuj Puri, chairman of Anarock Group told Business Insider India. More launches with schemes The festive quarter is expected to see even more launches. Last year, during the festive quarter of October to December (Q4 2022) as many as 93,000 units were launched across the top seven cities. “This year, we may see at least 10-15% yearly growth which means it will again be above one lakh units,” said Puri. Most developers are also sweetening the pot with schemes, incentives and discounting to push more sales for the festivals. “These promotional offers encompass free <keyword id="666493" type="General" weightage="20" keywordseo="modular-kitchens" source="Orion">modular kitchens</keyword>, furniture, flexible payment plans, GST and stamp duty waivers, as well as giveaways like gold coins, cars, and even international trips,” says Swapnil Anil, executive director &amp; head of advisory at Colliers India. Banks too are upping their ante with Low EMI Schemes, Fixed EMI Schemes, and Attractive Interest Rates and more say experts. The real estate sector has been on an upswing since the pandemic and festive period has re-energised it, with people willing to buy or upgrade their homes. Unlike other sectors, where the post-pandemic boom effects are fading away, the property market is only going from strength to strength. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

With large project launches and offers, realty players get set for a bumper festive season

<ul><li>Inflation has been eating into the purchasing power of lower and middle income groups with many essentials’ sales falling.</li><li>Majority of the upper and upper middle class respondents saw their household incomes go up more than inflation.</li><li>There is a dichotomy seen in online festive sales too as premium products are bought with discounts and purchase options say experts. </li></ul>There are two Indias within the great sub-continent. One where the day-breaking drink of tea has become dearer for many this year and the other half is doubling down on wine purchases. Neither of them are affected by the base effect of last year. <keyword id="2653343" type="General" weightage="20" keywordseo="tea-sales" source="Orion">Tea sales</keyword> were down last year too, and <keyword id="806378" type="General" weightage="20" keywordseo="wine-sales" source="Orion">wine sales</keyword> were up — darkening the ‘K’ line on economic recovery charts. Madan Sabnavis, the chief economist of Bank of Baroda calls it a schizophrenic pattern of consumption. “Sales are doing better in categories where price does not matter,” he tells Business Insider India. <div type="image" title="grocery demand" msid="104810160" hostid="261" caption="&amp;lt;p&amp;gt;Source: Pixabay &amp;lt;/p&amp;gt;"></div> It’s discretion not price The categories of goods where price matters are seeing low growth in output – a reflection of demand. Some of the casualties are detergent powders, groundnut oils, shampoos and hair dyes. Their output fell between April to August 2023, compared to the year before, as per BoB economics research. Inflation has a more indirect effect on these purchases. For example, tea and shampoo saw moderate inflation but their demand fell. Inflation was high in coffee, toothpaste and soaps but their demand grew. “The generalized inflation factor has been at work where real income has come down thus leading to lower purchasing power,” said BoB. In a survey conducted by UBS, about 46% of respondents said that they’re buying less personal care and packaged food compared to last year. For purchase of home care products, the respondents were largely neutral versus last year, it added. India’s largest FMCG player Hindustan Unilever with a large presence across rural and urban India has seen a direct impact of it in the quarter that ended in September 2023. Its overall urban volumes grew 3% and rural volumes fell 1%. “Rural recovery is likely to remain gradual,” the company said in its investor presentation indicating that the situation might not see any dramatic recovery in the coming months. Rural India saw reverse migration during the pandemic, but not all of them have gone back, opines Sabnavis. A chunk of downtrading is also being seen in urban areas amongst income groups that are facing the heat of inflation, experts add. At the other end This is, however, only one half of the story. At the other end, many Indians are not blinking while making discretionary purchases. A majority of the upper and middle class respondents – 65% – surveyed by UBS, saw their household incomes go up more than inflation. “The top 20% of the population account for the bulk of discretionary consumption. The survey results support our view that affluent consumers‘ income levels are holding up, as reflected in corporate wage growth that continues at double digits,” said UBS. Lalit Jhawar, co-founder and CEO, LandCraft Retail says that high-end gourmet products in urban areas have been steadily increasing over the last few years. He owns a luxury gourmet retails store- Food Square in Mumbai, which sells cheeses, truffles, caviar, artisanal breads and all the other international food items. “Affluence in urban areas has grown, resulting in a larger number of consumers with higher discretionary income,” Jhawar tells Business Insider India. Online sales: A story of dichotomy Another sign of higher spending is seen in the e-commerce festival sales. The first week of the many festival discount sales saw ₹47,000 crore worth of goods being sold, which is 19% higher than last year, says Redseer Consulting. Online sales, which now sees a good measure of metro and demand from Tier 2 and Tier 3 cities, is showing a dichotomy as well, say experts. “Two Indias have come into play where one India is saving up and waiting for prices to come down to clinch a good deal on premium products. On the other hand, there are low-value product sales i.e value-for-money purchases that are being bought more frequently,” said Abhishek Tandon, engagement manager at Redseer Strategy Consultants. The sale season, which is manna for bargain hunters, is also enthused by the number of Buy Now Pay Later and EMI options. “When it comes to big ticket purchases, premiumization is bolstered by financing options and discounts that make it affordable,” adds Tandon. In the pre-festive period between April and August,however, most consumer durable sales were in a negative zone, due to the high-base effect of last year, says Bank of Baroda’s report. Refrigerators, mobiles, readymade garments all showed a negative output – also indicating that discounts play a large role in discretionary purchases. Indian consumers have always been complicated and price has always played a big role in purchase decisions, choice of brands and more. But it’s no longer a linear story. One end of the market, driven by affluence, is veering towards premium purchases. The other end is looking for ways to survive with less in hand as inflation is eating into their purchasing power. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

Wine vs Tea: India’s consumption trends show a sharp divergence

<ul><li>Private equity and venture capital firms exited 17 companies via IPOs in 2023, amounting to ₹10,007 crore.</li><li>PE/VCs sold stakes in <keyword id="11931339" type="General" weightage="80" keywordseo="delhivery" source="Orion">Delhivery</keyword>, Zomato and <keyword id="6357120" type="General" weightage="80" keywordseo="paytm" source="Orion">Paytm</keyword> PE/VCs this year via block deals.</li><li>Open market exits accounted for 57% of all exits by value in August, says a report by IVCA-E&amp;Y.</li><li>Experts say that more exits via open markets is a sign of maturity in the ecosystem. </li></ul>The great rush for initial public offerings (IPOs) has landed a bounty of massive proportions for entrepreneurs and investors alike. And a fourth of all the funds raised, and almost half of all the offer-for-sale capital landed in the coffers of private equity and venture capital firms. This is in addition to the large block deal action seen between August and September, especially in new-age companies. A total of ₹40,773 crore was raised by 46 mainboard public offers in 2023 up until the third week of November. Around half of it — ₹23,714 crore raised as offers-for-sale by promoters, existing investors and more. Of this, PE and VC players made as much as ₹10,007 crore across 17 IPOs via offers-for-sale, according to data by Primedatabase. Mainboard IPOs in 2023 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><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;">Total issue amount </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;">₹40,773 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;">Offers for 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;">₹23,714 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 Capital </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;"> ₹17,059 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;">PE/VC exits </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;"> ₹10,007 crore </td></tr></tbody><tbody></tbody></table>Source: Primedatabase This year’s largest IPO of Mankind Pharma saw the chunkiest of PE/VC exits amounting to ₹3,244 crore. A few large IPOs like Concord Biotech, R R Kabel and one of India’s most-awaited issues, Tata Technologies saw large PE/VC sell-offs. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><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;">Company </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;">PE/VCs exited </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;">Amount </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;">Mankind Pharma </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;">Beige, Cairnhill CGPE, Cairnhill CIPEF and Link Investment Trust </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;">₹3,244 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;">Concord Biotech </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;">Helix Investment 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;">₹1,550 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;">R R Kabel </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;">TPG Asia VII SF </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;">₹1,334 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;">Honasa Consumer </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;">Fireside Ventures Fund Sofina Ventures S.A. Stellaris Venture Partners India I </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;">₹922 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;">Tata Technologies </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;">Alpha TC Holdings Pte. Ltd Tata Capital Growth Fund I </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;">₹692 crore </td></tr></tbody><tbody></tbody></table>Source: Primedatabase Open Sesame with IPO markets The opening up of the IPO market as an exit route is good news for PE and VC investors. Even if they’re not a part of the offer-for-sale in an issue, being part of a public listed company frees-up their shares for block deals. “IPOs are a credible exit channel for VC/PE funds. Revival of the IPO market is certainly good news for the investors. Equally good news is the performance of some of the marquee tech stocks that have been listed on the stock market in the last few years,” Fazal Ahad, managing director at Merisis Advisors told Business Insider India. Thanks to the bull run of stock markets seen since August, there have been a lot of block deals by large PE/VC investors. In as many as 29 large block deals since September, Softbank, <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Bain and TPG sold stakes in new-age internet companies like PB Fintech, Delhivery, Zomato and Paytm, as per data by Kotak Institutional Equities. According to IVCA-EY monthly PE/VC roundup, August 2023 saw exits to the tune of $4.3 billion across 37 deals in August 2023. And, open market exits accounting for 57% of all exits by value. The best is yet to come The buzz in the primary and secondary markets coupled with the exits they provide is a sign of maturity in the VC ecosystem, say experts. And there are more to come, as per Redseer. As many as 30 unicorns that are valued over $1 billion will become IPO-ready next year. For the smaller startups, there is the SME listing route who want to hit the markets at an earlier stage of their growth. “IPOs need to be valued right as public markets still look for profitable ventures, early profitability will enable startups to get exit through SME listings which has scaled up substantially in the last two years. This will take some time to evolve for startups,” said Manoj Agarwal, co-founder &amp; managing partner, SeaFund. The discipline of being a part of the listed universe also helps companies shrug off cash burn and move towards profitability. “Listed space gives rigour especially financial rigour to companies. This is something which the VCs like and now slowly but surely, there is acceptance in the IPO story of the startups,” says Bhaskar Majumdar, Managing Partner, Unicorn India Ventures. As more and more such companies are entering a state of maturity, FY25 will be a better year for serious large-scale exit gains, opines Agarwal. In the meanwhile, it’s open season for PE/VC investors who are looking to chart their exit strategy. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/stellar-listing-gains-book-profits-if-there-are-bumper-gains-say-experts/articleshow/105630290.cms">Stellar listing gains: Book profits if there are bumper gains say experts</a> <a href="https://www.businessinsider.in/business/corporates/news/minority-shareholders-must-grin-and-bear-it-when-promoters-wash-dirty-laundry-in-public/articleshow/105589325.cms">Minority shareholders must grin and bear it when promoters wash dirty laundry in public</a>

Private equity and VC players make a killing as IPO rush yields them ₹10,000 crore

<ul><li>Midcaps saw good participation from retail, HNI and mutual funds in 2023.</li><li>Midcaps might not keep up with their outperformance in 2024, but investor interest will continue.</li><li>High quality midcaps like Tata Tech, IREDA and JSW Infra listed in 2023.</li><li>A lot of sunrise and growth sectors with consumption themes are captured in midcaps, experts say. </li></ul> The year of 2023 will be remembered for its mid and small cap bull run. While Nifty gained 13% during the year, <keyword id="1435332" type="General" weightage="80" keywordseo="nifty-midcap" source="Orion">Nifty midcap</keyword> surged 3x faster – at 39%. Small caps were even more agile swelling by 48%, leaving large cap stocks in a bear market zone. After a good year, most people are asking — will the midcap party spill over into the New Year? In 2023, midcaps across sectors saw their order books swell, profitability rise due to benign commodity prices and more such. In the coming year, a lot of troubles could be exposed, says Kotak Securities. “The largecap and high-quality midcaps are in a bull market, with the weak operating performance in the short term and likely deterioration in fundamentals in the medium term being largely ignored by the market. Several low-quality midcaps and smallcaps in general are in a bubble market, with the market attaching unrealistic narratives to many stocks,” said Kotak Securities. Ripe for correction? The time seems ripe for a correction, especially in the short-term. “Investors should remember that after such a strong rally in midcaps, there is a high probability that these stocks might witness heightened volatility in the short term,” Nishit Master, portfolio manager at Axis Securities Portfolio Management Services told Business Insider India. Experts believe only those midcaps that show good earnings performance will be able to hold on to their high valuations. “In the short term, we might witness profit booking in the small and midcap space by traders as they move from stocks and sectors that have done exceedingly well to sectors and stocks where they feel they can hunt for bargains. However, long-term investors will stick to well-performing stocks where the earnings growth trajectory still remains strong,” says Master. Some midcaps however hold a 15-20% upside as some sectors have room for growth, say experts. “Most stocks are ahead of their target price due to change in the business cycle as well as the environment. But there is still room for growth in defence and sugar stocks as the cycle is favourable, and policy also helps,” says Vaibhav Kaushik Research Analyst at GCL Broking. <img src="https://lh7-us.googleusercontent.com/k5vJTfW1YIdguLLcOTolYDitUKq4s28eBrYAQl-n8fa79XEugONl_vR_g_MOzzHjcmvb7ip1J-BgQBzRyMq2E_62xUaKfrcBpOfXqrITSZEIIb4iq_Uj2ejoNYaY5FDJvdb-tETODLiOcW7o_wtJOkY" /> The midcap sun will keep shining Midcaps might not see the sharp run, but investors are far from swearing off these stocks. One clue of this comes from the heavy inflows into these categories of mutual funds. As more and more investors are rushing to open mutual funds, a record amount of ₹21,519.98 crore went into midcap funds, according to Association of Mutual Funds in India (AMFI). As per the latest data available, investors poured in as much as ₹2,665.73 crore in November. There has been a lot of direct participation from retail and HNI investors in the markets too. That’s because <keyword id="135899" type="General" weightage="90" keywordseo="midcap-stocks" source="Orion">midcap stocks</keyword> have many interesting themes that large caps do not offer. “A lot of companies in the consumption theme like Quick Service Restaurants (QSRs) or luggage companies, transportation and logistics companies, manufacturing and cap goods also fall under midcaps. Many upcoming and sunrise sectors are getting captured in the midcaps,” says Jaiprakash Toshniwal, senior equity analyst at LIC Mutual Fund. Moreover, the many successful initial public offers (IPOs) of the year also added a lot of variety if not velocity to the midcap index. “A lot of freshly listed companies have a marketcap between ₹8,000-25,000 crore which is the midcap category,” says Toshniwal. Tata Technologies, JSW Infrastructure, IREDA, and Honasa Consumer etc. are some newly listed mid cap stocks that have piqued investor interest. If the primary markets keep up with their fervour, there will be more options for investors. In the coming year, investors might become selective of their midcap bets, but won’t go slow. “Midcaps’ overall capital efficiency has improved as seen from their return on equity (RoEs) in 2023. We believe that small and midcaps have the potential to outperform large caps in the medium to long run. Still, the extent of outperformance might not continue in 2024,” says Master. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="554038871"> Everyone know that Market is on boom nowdays ...we can say that post covid 19, Indian stock market picked up pace with a resound growth trajectory .... Here we are digging out the picture of growth Story of last 3 years in all market components &amp; trying to fetch the picture behind this with proper set of data .... Overall picture we can consider in NIFTY 500 Indices (top 500 companies in market caps) Nifty 100 (constitute the top 100 companies in market cap) Nifty Midcaps 150 (constitutes next 150 companies according to market caps behind nifty 100) Nifty smallcaps 250 (constitutes next 250 companies according to market caps behind nifty midcaps 150) A long Thread .....(please read till last) Continues .... $NIFTYMIDCAP100.NSE &mdash; (@StockAce_ResearchAnalyst) <a href="https://stocktwits.com/StockAce_ResearchAnalyst/message/554038871"> December 11, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div>

Bulls & Bubbles: Midcaps will move but not as fast in 2024

<ul><li>PVR INOX Passport allows users to watch 10 movies/month on weekdays for ₹699, consumers can watch.</li><li>It’s targeted towards senior citizens, housewives and more importantly students and youngsters.</li><li>Passport can energize weekday theater occupancies and improve F&amp;B sales, say analysts </li></ul>How many people watch ten movies a month? Not even in the hay days, when movies were a key source of entertainment. Now, at a time when theaters are struggling with occupancies and footfalls, India’s largest multiplex chain has brought out its PVR INOX Passport. For ₹699, consumers can watch 10 movies in a month on weekdays but without access to its IMAX, Gold, LUXE and Director's Cut services. Even as the movie industry saw post-pandemic successes with RRR, Pathan, <keyword id="6498265" type="General" weightage="20" keywordseo="pushpa" source="Orion">Pushpa</keyword> and Rocky and Rani Ki Prem Kahani, occupancies haven’t yet hit pre-Covid levels. Now, PVR is hopeful that with this limited period offer, they can bring back some of those who have lost the habit of watching movies on the screen. “The three significant target groups we are focusing on are students, housewives, and senior citizens, where we believe lies a great opportunity. We expect this innovative offering will not only revitalize weekday cinema attendance but also introduce a new dimension to how our patrons interact with and enjoy the world of cinema,” said Gautam Dutta, co-CEO of PVR INOX. The big screens are being hurt by OTT’s weekly and monthly launches of shows and direct-to-OTT movies. Moreover, GenZs with mobiles and easy data access, find little allure of watching movies in a size larger than life. Unlimited OTTs plus limited theatrical releases PVR is trying to build a habit of making movie watching a social outing that it has been for generations before. OTTs have also upped their ante during the pandemic and has brought back movie loving public into its fold. The time lag between a theatrical release and their satellite/OTT debuts have come down drastically. In some cases, it’s a matter of a few weeks. Added to that, a few superstar-starring, much awaited movies are going directly to OTTs. Case in point – Knives Out ‘Glass Onion’ starring Daniel Craig had a ‘limited’ release before it hit Netflix. Even Martin Scorsese planned the same for his ‘Killers of the Flower Moon’ but canceled it. There are more examples closer home too. One of Bollywood’s most-awaited debuts with three star kids directed by Zoya Akhtar is The Archies. The off-beat movie starring Shah Rukh Khan’s daughter Suhana Khan, Amitabh Bachchan’s grandson Agastya Nanda, and late actress Sridevi’s daughter Khushi Kapoor, is coming to Netflix. More reason for the young to subscribe to Netflix and chill, instead of making a movie date. “This move may eventually bring the youth back to the cinemas, which will be a big positive structural trigger. The only ponderable is if lower pricing or good content would be the decider to usher in this change,” says Karan Taurani, research analyst at Elara Capital in a note on the offer. Without the price-barrier If there ever was a good way to bring back young people to try something, price reduction is the way to go. Many apps and new-age businesses are built on this theory. PVR’s Passport plan however does zero or no damage to their economics. As per Elara’s calculations, pan-India, annual average occupancy for exhibitors for weekdays (Monday-Thursday) is around 17%. Discounted ticket prices may prop occupancy towards 20-25% it believes. “Increased occupancy may not come at any incremental costs and may drive better F&amp;B and ad revenue which is high-margin in nature,” Taurani adds. The Passport offer which is not available in the South of India, is also limited in nature. Only 20,000 of these passes are available. The idea behind it is not merely to boost weekday occupancy, claims PVR. “With the Passport, we have sought to break the barriers of cost and allow our newer audiences to immerse themselves in a wide array of movies across diverse genres. We expect this innovative offering will not only revitalize weekday cinema attendance but also introduce a new dimension to how our patrons interact with and enjoy the world of cinema,” said Dutta. Small vs Big Apart from limited releases, a lot of quaint small movies, whose surprise performance vitalized box offices are also missing. These are the movies that are being swept off by OTTs and as per media reports, producers and distributors are also getting <a href="https://economictimes.indiatimes.com/industry/media/entertainment/studios-fail-to-talk-up-movies-theatres-pay-the-price/articleshow/104897753.cms">tight-fisted with marketing spends</a>. Taurani says that theaters’ dependence on large-budget films increased to around 85% in Hindi <keyword id="25892" type="General" weightage="20" keywordseo="box-office" source="Orion">Box Office</keyword> (BO) which is a structural risk. If there is an option to watch ‘many movies’ with a prepaid option, the small movies which are hitherto undiscovered can get a boost. “It's about making every visit to the cinema an opportunity to discover something new, to be entertained, and to be captivated by the magic of storytelling on the big screen, even with the smaller films,” said Dutta. Be it big or small, a movie on a big screen is always an experience. Whether the younger generation who is reportedly more keen on experiences than anything will subscribe to it, is yet to be seen. SEE ALSO <a href="https://www.businessinsider.in/careers/news/what-do-genzs-think-about-the-number-of-work-hours-in-a-week/articleshow/104874213.cms">My shift is over: Why do GenZs say it, and is it a bad thing?</a> <a href="https://www.businessinsider.in/stock-market/news/mamaearth-ipo-honansa-consumers-d-street-debut-to-be-an-acid-test-for-d2c-companies/articleshow/104840366.cms">Honasa Consumer’s D-Street debut an acid test for D2C companies </a><a href="https://www.businessinsider.in/stock-market/news/mamaearth-ipo-honansa-consumers-d-street-debut-to-be-an-acid-test-for-d2c-companies/articleshow/104840366.cms" style="font-size: 16px;"></a> <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="549657213"> $PVRINOX.NSE TechnoFunda Analysis - Fundamental view - PVR, led by MD Mr. Ajay Bijli, showed resilience during the pandemic, acquiring INOX in 2023, expanding to 1650 screens in 110+ cities. As the Indian economy reopens, the cinema industry is thriving with blockbuster releases. In FY 2024, PVR INOX aims to capitalize on star-studded films and PVR Passport subscription. Technical view - Similarly, PVR INOX&#39;s stock is looking interesting. The stocks has experienced a reversal after a false all-time high breakout. It has found strong support within the range of 1450 to 1550 levels. This range aligns with a long-term trendline that the stock has been respecting for a long time. Furthermore, these levels correspond with the Fibonacci 0.5 retracement level enhancing the likelihood of a reversal. PVR INOX can be bought at CMP 1607 with a stop-loss set at 1220 on a weekly closing basis. The stock could move towards levels of 1870 and 2445 over a 12-18 months periods &mdash; (@ArthaCapital) <a href="https://stocktwits.com/ArthaCapital/message/549657213"> November 01, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div>

PVR woos Netflix n Chill crowd back to big screens with its Passport

<ul><li>Tata Technologies, Snapdeal, Fabindia and Navi Technologies are some of the most awaited IPOs of the season. </li><li>Around 13 companies filed their DRHPs between April to June 2023. </li><li>More tech, fintech and direct to consumer companies are expected to go public in the next two years.</li></ul>After a slow start in 2023, the <keyword id="6354763" type="General" weightage="20" keywordseo="ipo" source="Orion">IPO</keyword> market picked steam after the new financial year started in April. As many as 20 new companies listed on BSE and NSE, raising as much as ₹15,000 crore as of August. An IPO (Initial Public Offer) is the first sale of shares by a privately owned company to institutional and retail investors. Though it’s a far cry from ₹58,346 crore raised in 2022 — a lot of large and small companies alike have filed their draft red herring prospectus (DRHPs) with market regulator SEBI — promising an exciting year ahead. As per an E&amp;Y report, around 13 companies filed their DRHPs in April to June 2023, adding to the pipeline. Most active sectors in recent IPOs include hospitality &amp; construction, automotive &amp; transportation, diversified industrial products, and real estate. Apart from Rishabh Instruments’ ₹490 crore public offer and Ratnaveer Precision Engineering’s ₹165 crore public offers in the coming weeks, the stage has also been set for large companies looking to be listed. Amongst the most anticipated IPOs are Tata Technologies wherein Tata Motors is selling stake. This would be the first Tata company to go public in 19 years as the last company that was listed by the group is industry major TCS. <cmsannotation type="cmsannotation" annotationid="Upcoming IPOs" comment="subhead" text="Upcoming IPOs">Upcoming IPOs</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rishabh Instruments Limited </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹490.78 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ratnaveer Precision Engineering Limited </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹165.03 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><cmsannotation type="cmsannotation" annotationid="Companies who have filed their DRHP" comment="subhead" text="Companies who have filed their DRHP">Companies who have filed their DRHP</cmsannotation> Let’s look at some of the companies who have filed their DRHP and may soon announce their IPO - <ul><li>Navi Technologies</li><li>Tata Technologies</li><li>Balaji Speciality Chemicals</li><li>Snapdeal</li><li>Fabindia</li><li>NSDL</li><li>Imagine Marketing (boAt)</li></ul><cmsannotation type="cmsannotation" annotationid="Techs, fintechs &amp; more" comment="subhead" text="Techs, fintechs &amp; more">Techs, fintechs &amp; more</cmsannotation> New-age companies like Snapdeal filed their papers with the regulator and would be very watched due to the mixed reactions that Internet companies are continuing to receive. Moreover, it would be one the first large e-commerce companies to test the markets. Sachin Bansal’s Navi Technologies is another fintech company that will join the likes of Policybazaar, and household brand FabIndia has also refiled its papers. In spite of a lot of investor concern around new-age companies, experts believe that India will see a lot of tech IPOs in the coming years. Mamaearth’s parent Honasa Consumer has also received a nod from SEBI for their IPO, even though it was delayed as of March this year. “By FY25, India is likely to have up to 40 listed/IPO ready new-age companies, which can grow to 90 by FY28. SaaS, B2C Product Companies, and FinTech are amongst the most promising categories to produce IPO-ready companies," Rohan Agarwal, partner at Redseer said in a recent report. These companies, Agarwal believes, have sizable revenues, sustainable growth, a strong EBITDA, and operate on defensible business models, making them strong candidates for IPO. Another Solapur based specialty chemicals company Balaji Specialty Chemicals also hopes to add to the many companies that have provided outsized returns to their investors in the last few years — as the sector is on an upcycle. "India's current IPO market trend showcases its immense potential and has witnessed a remarkable surge in recent years. In the forthcoming months, there is anticipated to be significant momentum in the Indian IPO market, encompassing both the main and SME market segments," said Adarsh Ranka, partner, financial accounting advisory services leader, network firm of EY Global. <cmsannotation type="cmsannotation" annotationid="Fundraising in 2023" comment="subhead" text="Fundraising in 2023">Fundraising in 2023</cmsannotation> <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#000000;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funds raised in 2023 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vishnu Prakash R Punglia </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹309 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aeroflex Industries </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹351 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pyramid Technoplast </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹153 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TVS Supply Chain </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹880 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Concord Biotech </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,551 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBFC Finance </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,025 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yatharth Hospital </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹686 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Netweb Technologies </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹631 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Utkarsh Small Finance Bank </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹500 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senco Gold </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹405 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyient DLM </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹592 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ideaforge Technologies </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹567 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HMA Agro </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹480 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IKIO Lighting </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹606 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divgi TorqTransfer </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹412 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global Surface </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹155 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Udayshivkumar Infra </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹66 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mankind Pharma </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,326 crore </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avalon Technologies </td><td style="border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹865 crore </td></tr></tbody></table>

IPOs galore – India’s primary market to remain buzzing in 2023

Three top <keyword id="3452086" type="General" weightage="20" keywordseo="Indian-businesswomen" source="Orion">Indian businesswomen</keyword> are featured in the Forbes Asia November issue highlighting 20 Asian women who came up with varying strategies that helped their businesses soar despite the uncertainty of the new normal and three years of Covid-19. <keyword id="4237371" type="General" weightage="20" keywordseo="Soma-Mondal" source="Orion">Soma Mondal</keyword>, the chairperson of Steel Authority of India Ltd, <keyword id="544908" type="General" weightage="20" keywordseo="Namita-Thapar" source="Orion">Namita Thapar</keyword>, executive director at India business of Emcure Pharma, and <keyword id="4548812" type="General" weightage="20" keywordseo="Ghazal-Alagh" source="Orion">Ghazal Alagh</keyword>, co-founder and chief innovation officer of Honasa Consumer, are on the list. Some of these women operated in hard-hit sectors such as shipping, property, and construction, while others continue to innovate in areas such as technology, pharmaceuticals, and commodities, Forbes said in a press release on Tuesday. The Asia-Pacific region this year has mostly moved on to a post-pandemic era where governments, people, and businesses are learning to live with Covid-19, it said. The other women on the list are from Australia, China, South Korea, Indonesia, Japan, Singapore, South Korea, Taiwan and Thailand. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/paytms-net-loss-widens-by-20-yoy-to-571-crore-in-q2-but-down-sequentially/articleshow/95369930.cms">Paytm's net loss widens by 20% YoY to ₹571 crore in Q2 but down sequentially</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/four-ipos-worth-5000-crore-to-open-this-week-all-you-need-to-know/articleshow/95361401.cms">Four IPOs worth ₹5,000 crore to open this week: All you need to know</a>

Three prominent Indian businesswomen among 20 Asian lady entrepreneurs in Forbes November issue

<ul><li>The announcement comes as <keyword id="4548811" type="General" weightage="20" keywordseo="mamaearth" source="Orion">Mamaearth</keyword> turned a unicorn last week, after its parent company raised $52 million.</li><li>The company will use this funding to test out its products in the Middle East and South Asian markets.</li><li>The company expects to double its business by the end of March 2022.</li></ul>Direct-to-consumer (D2C) personal care brand Mamaearth has turned profitable in the financial year 2021, the company’s cofounder and chief executive (CEO) Varun Alagh told Business Insider. The announcement comes as Mamaearth turned <a href="https://www.businessinsider.in/business/startups/news/india-is-home-to-81-unicorns-now-as-mamaearth-globalbees-make-it-to-the-list/articleshow/88558418.cms">a unicorn last week</a>, after its parent company Honasa Consumer Private Limited raised $52 million at a valuation of $1.2 billion. A unicorn, in startup parlance, is a company valued at or over a billion dollars. Mamaearth’s Varun told BI that its revenue grew nearly four fold to ₹480 crore in the last financial year (FY20). Kanwaljit Singh of Fireside Ventures, who is one of the investors at Mamaearth, had previously <a href="https://inc42.com/buzz/what-the-financials-mamaearth-revenue-surges-6x-in-fy20-with-booming-sales/">noted</a> that Mamaearth crossed ₹300 crore in revenue two-three months before closing FY2021. Now, Varun expects to close March 2022 with double the revenue — which would be around ₹960 crore — by focusing on inorganic growth, launching more brands and doubling down on its distributions. While the number may be high, Mamaearth's past record has shown that it may not be too ambitious of a dream. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><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;"> </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><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;">FY2021 </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;">₹5.9 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;">₹112 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;">₹480 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;">Profit </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;">-₹3.5 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;">-₹5.9 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;">Undisclosed </td></tr></tbody><tbody></tbody></table>Source: Mamaearth’s financial statement for FY2020, Company statements Founded by Varun and Ghazal Alagh, Mamaearth is a D2C brand that sells over 80 beauty and personal care products across India through online and offline medium. The company will soon start testing out its products in the Middle East (Gulf Cooperation Council) and South Asia, Mamaearth’s CEO Varun told Business Insider. The latest refunding round of Honsa Consumer Private Limited — the parent company of Mamaearth, The Derma Co and other personal care house of brands — was led by Sequoia. Sofina Ventures and Evolvence had also participated in the round, which gave exits to several undisclosed early backers as well as employees of Mamaearth. “We will be deploying the funds towards brand launches, expanding distribution, inorganic growth and expanding the current portfolio across borders. Sequoia, Sofina and Evolvence have unique strengths in US, Europe and GCC respectively which will help us grow internationally and learn from others in these markets," Varun said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/khatabook-dunzo-purplle-rapido-and-17-other-startups-that-can-become-unicorns-in-2022/slidelist/88614480.cms" data-type="tilCustomLink">From Dunzo to Purplle to Khatabook — here are the 21 startups that may turn unicorns in 2022</a> <a href="https://www.businessinsider.in/#:~:text=Tata%20Motors%2C%20Maruti%20Suzuki%2C%20Future%20Retail%20and%20other%20hot%20stocks%20on%20the%20first%20trading%20day%20of%202022" data-type="tilCustomLink">Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022</a> <a href="https://www.businessinsider.in/tech/news/tesla-delivers-a-record-number-of-vehicles-in-the-4th-quarter-smashing-analyst-estimates/articleshow/88654582.cms" data-type="tilCustomLink">Tesla delivers a record number of vehicles in the 4th quarter, smashing analyst estimates</a>

Mamaearth says it has turned profitable as revenue neared ₹500 crore last year

New Delhi, Jan 8 () Personal care brand Mamaearth on Wednesday said it has raised Rs 130 crore in funding led by Sequoia India.
 The funding also saw participation from existing investors, Fireside Ventures, Stellaris Venture Partners and Sharp Ventures.
Founded in 2016 by husband-wife duo Varun and Ghazal Alagh, MamaEarth offers skin and hair care, and baby care products. 
The company plans to use the freshly acquired funds over the next three years to continue its growth, building it into a Rs 500 crore brand by acquiring five million new consumers, a statement said. 
The funds will also be used to launch more brands under the Honasa umbrella- all of which will be internet-first and focused on the needs of millennial consumers, it added. 
 Honasa is the parent company of personal care brand Mamaearth.
The company plans to utilise the funds to hire talent as the organization scales rapidly. It also plans to expand into key markets in Southeast Asia.
"Our vision is to create the FMCG conglomerate of the future by building brands that connect strongly with millennials and Gen Z customers using the combined power of digital marketing and e-commerce at large scale," Mamaearth founder and CEO Varun Alagh said in a statement.
Mamaearth, with a Rs 100 crore run-rate, has over 80 products in its portfolio with more than 1.5 million consumers in over 500 cities across India.
"Out of India's over USD 15 billion personal care market, online channels contribute to only 3-5 per cent. With 15-20 per cent of Indian shoppers influenced digitally and expected to double in next 7-8 years, digital first brands have the potential to redefine the architecture of tomorrow's FMCG companies," Sequoia Capital India LLP Principal Ishaan Mittal said. SR RUJ
RUJ

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