Larsen &amp; Toubro Infotech, a global technology consulting and <keyword id="50691" type="COMPANY" weightage="20" keywordseo="Digital">digital</keyword> solutions company has signed a definitive agreement to acquire Cuelogic Technologies, a <keyword id="6022571" type="COMPANY" weightage="20" keywordseo="digital-engineering">Digital Engineering</keyword> and Outsourced Product Development company, headquartered in Pune, <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. Founded in 2010, Cuelogic has built capabilities in digital engineering, and primarily focuses on developing cloud native web and mobile applications, modernization, and runs Innovation Lab as a service for its clients in the USA and India. Digital Engineering is a significant market opportunity, and this acquisition will provide instant access to a fast-growing business with impressive client roster, and more than 300 employees. Cuelogic works with enterprise clients on multiple facets of digitalization such as UX Consulting, <keyword id="1968247" type="COMPANY" weightage="20" keywordseo="DevOps">DevOps</keyword>, AI Consulting, IoT, Applications Modernization, Cloud Architecture &amp; Integration. With over 100 products successfully developed, Cuelogic helps global enterprises build and grow modern digital businesses. Sanjay Jalona, CEO &amp; Managing Director, <keyword id="2162690" type="COMPANY" weightage="20" keywordseo="LTI">LTI</keyword>, said: "We believe rapid productization is an essential requirement for accelerated digitalization across industries. Our clients are looking for agile solutions to compete effectively in a changing world. Digital engineering capabilities of Cuelogic Technologies combined with their tools and methodologies will help our clients innovate, launch products, accelerate time-to-market, and maintain products optimally. I welcome Cuelogic team, their customers, and partners to LTI family." Nikhil Ambekar, CEO, Cuelogic Technologies, said: "When Vikrant, Neel, and I cofounded Cuelogic, our goal was to bring rapid and reliable product development services to enterprises, and help them scale their digital transformation. Our digital expertise and unique culture have helped us build a solid foundation. As a company obsessed with engineering excellence, we find LTI to be our ideal partner for the next phase of our journey. LTI is the growth leader in the industry, and we are excited to further add strength to its formidable Digital capabilities." Cuelogic will be integrated with the Digital practice of LTI. This is the seventh acquisition by LTI since the company got listed in 2016. Earlier acquisitions have bolstered company's expertise around data &amp; analytics, cloud consulting, intelligent automation, and industry-specific platforms. About LTI LTI (NSE: LTI) is a global technology consulting and digital solutions Company helping more than 400 clients succeed in a converging world. With operations in 31 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI's Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of <keyword id="689816" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro-Limited">Larsen &amp; Toubro Limited</keyword>, our unique heritage gives us unparalleled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 35,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees, and shareholders. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a> <a href="https://www.businessinsider.in/business/news/why-dodla-dairy-has-no-plans-to-expand-beyond-southern-india/articleshow/83503817.cms">Here’s why Dodla Dairy has no plans to expand beyond southern India for at least the next two years even with its IPO</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a>

Larsen & Toubro Infotech to buy Pune-based digital engineering firm CueLogic

<ul><li>The <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword> currently has six companies listed on the Indian stock exchanges.</li><li>If listed, the Adani Group will have seven infrastructure companies and one consumer business with public shareholding.</li><li>The addition of two more companies on the stock exchanges could help <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> beat Mukesh Ambani as the richest Indian.</li></ul>The Adani Group is now reportedly planning to list two more of its businesses on the Indian stock exchanges, after the market capitalisation of its six listed companies surged by over 5 times in the last year. According to media reports, the airport and food businesses of the Adani Group could go public in the near future. The airports business is owned by Adani Enterprises as <keyword id="8414386" type="UNKNOWN" weightage="20" keywordseo="adani-airports">Adani Airports</keyword> Holdings, while <keyword id="236770" type="COMPANY" weightage="20" keywordseo="Adani-Wilmar">Adani Wilmar</keyword> is a joint venture between the Adani Group and Singapore-based Wilmar International. Currently, the Adani Group has six listed companies with a combined market capitalisation of over ₹8.5 lakh crore, skyrocketing from a little over ₹1.6 lakh crore last year. <div type="Article" hostid="261" msid="82968072" title="Every ₹10,000 invested in Adani’s listed firms last year is now worth ₹52,000" mstype="2" mssubtype="0"></div> If listed, these two companies could help Gautam Adani beat Mukesh Ambani as the richest Indian. According to Forbes’ real-time billionaires <a href="https://www.forbes.com/real-time-billionaires">list</a>, Ambani is the richest in India with $85 billion wealth, while Adani is second with $75.4 billion wealth. <cmsannotation type="cmsannotation" annotationid="The airport business could be the next to take off, but Covid-19 playing spoilsport" comment="subhead" text="The airport business could be the next to take off, but Covid-19 playing spoilsport">The airport business could be the next to take off, but Covid-19 playing spoilsport</cmsannotation> A <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/adani-group-plans-to-hive-off-airport-business-launch-ipo/articleshow/83388738.cms">report</a> by The Economic Times stated that the airports business will be hived off into a separate entity before the listing process is undertaken. The report further adds that before the initial public offering (IPO) is launched, the Adani Group will raise $500 million (approx. ₹3,600 crore) for the business on a private placement basis. However, the ongoing Covid-19 crisis could temporarily play spoilsport. “Discussions were held between top company officials and potential investment bankers. At least half a dozen global banks and a bunch of domestic bankers have met top officials recently. However, the group is awaiting better air passenger numbers as the Covid pandemic significantly reduced passenger traffic,” the report said, quoting an unnamed source, adding that the airport business listing is being targeted for the year-end. The Adani Group currently operates six airports across India, servicing 10% of the country’s total air passenger traffic. In addition to this, the company acquired a 74% stake in Mumbai International Airport Ltd, which manages the Chhatrapati Shivaji Maharaj International Airport. <cmsannotation type="cmsannotation" annotationid="Adani Wilmar could be the next billion-dollar IPO" comment="subhead" text="Adani Wilmar could be the next billion-dollar IPO">Adani Wilmar could be the next billion-dollar IPO</cmsannotation> The Adani Group is also reportedly working on listing its food business, run under the name Adani Wilmar, a joint venture between the Adani Group and Singapore-based Wilmar International. According to a Money Control <a href="https://www.moneycontrol.com/news/business/ipo/in-big-consumer-push-adani-wilmar-targets-ipo-to-raise-nearly-1-billion-in-2021-7011021.html">report</a>, the Adani Group is planning to raise $1 billion (approx. ₹7,000 crore to ₹7,300 crore) through the IPO. Adani Wilmar owns the popular edible oil brand ‘Fortune’, and currently sells several other groceries like rice, wheat flour (atta), semolina (rawa), pulses among other things. Quoting unnamed sources, the report added that the Adani Wilmar valuation could touch $8 billion to $9 billion. It says that the draft red herring prospectus (DRHP) could be filed as early as June or July. In an exchange filing earlier in March this year, Adani Enterprises said, “We would like to submit and clarify that the Company regularly evaluates all opportunities across its various businesses with the objective of enhancing shareholder value and this may involve discussions with various parties and stakeholders at different points in time.” Business Insider has reached out to the Adani Group for a statement. We will update the story if and when we receive a response. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-would-be-the-largest-ever-for-an-automotive-component-maker-in-india/articleshow/83369745.cms">Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest</a> <a href="https://www.businessinsider.in/stock-market/news/go-air-has-filed-for-a-3600-crore-ipo-at-a-very-desperate-time/articleshow/82626097.cms">Go Air has filed for a ₹3,600 crore IPO at a very desperate time</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a>

Adani Group is reportedly planning to launch IPOs of its airport and food businesses

<ul><li><keyword id="6776373" type="UNKNOWN" weightage="20" keywordseo="Shyam-Metalics-IPO">Shyam Metalics IPO</keyword> is now live and it will be open for subscription till June 16.</li><li>The total IPO size is ₹909 crore. The price band is fixed at ₹303-306, and each lot consists of 45 equity shares.</li><li>Analysts are mostly bullish on the <keyword id="7112477" type="COMPANY" weightage="20" keywordseo="Shyam-Metalics">Shyam Metalics</keyword> IPO, but some suggest caution.</li></ul>Shyam Metalics, a Kolkata-based producer of long steel products, has commenced its ₹909 crore initial public offering (IPO), with the price band fixed at ₹303-306 per share. The Shyam Metalics IPO will be open for subscription till June 16. Each lot consists of 45 shares, so each lot will be worth ₹13,770. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Share of issue reserved </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Out of the IPO size of ₹909 crore, Shyam Metalics’ existing shareholders are offering ₹252 crore worth shares. <div type="Article" hostid="261" msid="83505013" title="Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Objects of the issue" comment="subhead" text="Objects of the issue">Objects of the issue</cmsannotation> The company’s prospectus states that out of the ₹657 crore fresh issue, ₹470 crore will be used toward payment of certain borrowings, which will help reduce its cost of finance. The remaining ₹187 crore are earmarked for general corporate purposes, which includes capital expenditure, working capital requirements, investment in subsidiaries and joint ventures, among other things. <cmsannotation type="cmsannotation" annotationid="Here’s what analysts are saying" comment="subhead" text="Here’s what analysts are saying">Here’s what analysts are saying</cmsannotation> Analysts are mostly bullish and recommend subscribing to the Shyam Metalics IPO, but some suggest that it is overvalued when compared to its peers. According to Choice Broking, the trailing 12-month EV/EBITDA of 8.6 times is higher than the average of 6.4 times of its peers. EV/EBITDA is a ratio used to determine the value of a company. EV refers to enterprise value. EBITDA refers to earnings before interest, tax, depreciation and amortisation. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/Analyst </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financial Services </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Arun Kejriwal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dilip Davda </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr></tbody></table> “Further, a strong balance sheet along with best-in-class leveraging positioning offers an edge to Shyam Metalics. Additionally, operating cash flow yield at 8.4% looks to be impressive and expected to improve further with higher cash flow generation in the ensuing quarters. Hence, we recommend subscribing to this issue,” said Reliance Securities in its report. Hem Securities also recommended subscribe. “We like the financial performance posted by the company with a healthy balance sheet status. Efficiency improvements, improved productivity and cost rationalisation has enabled it to deliver consistent and strong financial and operational performance,” it noted in its IPO note. <cmsannotation type="cmsannotation" annotationid="Understanding the business of Shyam Metalics" comment="subhead" text="Understanding the business of Shyam Metalics">Understanding the business of Shyam Metalics</cmsannotation> Shyam Metalics is a leading producer of integrated steel and ferro alloys, based in east India. The steel maker has three manufacturing plants with an operating capacity of 5.7 million tonnes per annum. Analysts say that it has control over all the aspects of its operations because of forward and backward integration, allowing it to optimise its processes according to its needs. Shyam Metalics counts Jindal Stainless (Hisar), Rimjhim Ispat, POSCO International, Norecom, JM Global Resources, Goenka Steels and others among its clientele. “Shyam Metalics has consistently outperformed its peers in terms of profitability. Majority of the power costs is being met through captive sources, which results in low power costs and thereby improving operating performance vis-à-vis its peers,” said a report by Hem Securities, underlining the company’s financial performance. Here’s a look at its revenue and profit since March 2018: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (₹ in crore) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit (₹ in crore) </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec-20 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,996 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">456 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;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;">Mar-20 </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">4,395 </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">340 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;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;">Mar-19 </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">4,685 </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">637 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;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;">Mar-18 </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">3,920 </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">528 </td></tr></tbody></table>Source: Shyam Metalics prospectus SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for the long ride</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a>

Shyam Metalics IPO worth ₹909 crore is live – find out if you should subscribe to this Kolkata-based producer of long steel products

The <keyword id="1712766" type="ORGANIZATION" weightage="20" keywordseo="Central-Bank-of-Nigeria">Central Bank of Nigeria</keyword> is looking to launch its own central bank digital currency (CBDC) by the end of the year. Rakiya Mohammed, an information technology (IT) specialist at the Central Bank of <keyword id="6354767" type="COUNTRY" weightage="20" keywordseo="Nigeria">Nigeria</keyword> (CBN), <a href="https://www.today.ng/business/energy/official-cbn-launch-digital-currency-2021-370269">disclosed</a> that the bank has been exploring the concept of a central bank digital currency (CBDC) for the last two years and a ‘special announcement’ shall come soon. <div type="ExtQuote" text="Before the end of the year, the Central Bank will be making a special announcement and possibly launching a pilot scheme in order to be able to provide this kind of currency to the populace." auname="Rakiya Mohammed, an information technology (IT) specialist at the Central Bank of Nigeria (CBN), announced during a news briefing"></div> The cryptocurrency world is undergoing a period of rapid progression as governments and companies globally grapple with how they can leverage the technology for maximum returns. The G7, for instance, <a href="https://www.gov.uk/government/publications/g7-finance-ministers-meeting-june-2021-communique/g7-finance-ministers-and-central-bank-governors-communique">stated</a> that it’s working on a common set of CBDC principles for central banks to issue their own digital currency. The European Central Bank (<a href="https://www.ecb.europa.eu//press/pr/date/2021/html/ecb.pr210414~ca3013c852.en.html">ECB</a>) has highlighted that countries that choose not to launch a CBDC could be left out of the loop when it comes to cross border payments. Brazil, like Nigeria, is working on its own CBDC that will work as an extension of the physical currency that already exists. What is Nigeria planning? Nigeria initially tried to clamp down on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a> at the beginning of 2021 and barred commercial banks and other financial institutions from servicing crypto exchanges. While the information revealed is vague, Mohammed’s announcement confirms that Nigerian authorities are actively considering CBDC as a viable alternative and intend to pursue it as soon as possible. The CBN’s digital currency will act complementary to naira cash notes, Nigeria’s local currency. Authorities are currently brainstorming the architecture, accessibility and privacy concerns of the system. The initial roll-out shall be a pilot program, similar to what <keyword id="1334" type="COUNTRY" weightage="20" keywordseo="China">China</keyword>’s been trying with e-yuan — also known as just digital yuan. It’s worth noting that the country <a href="https://www.reuters.com/world/africa/nigeria-extends-naira-incentive-offer-boost-diaspora-inflow-2021-05-06/">received</a> more than $26 billion via remittances in 2019, making a robust international transfer system a need of the hour. Ray Youssef, the CEO of peer-to-peer lending platform Paxful, <a href="https://www.coindesk.com/africa-is-leading-global-cryptocurrency-adoption-paxful-ceo">confirmed</a> last week that Nigeria is now its largest market in Africa. It holds the largest gas reserves on the continent and is also the peninsula’s largest oil and gas producer, which means there’s a lot of money going in and out of the country. Its citizens are actively adopting new technology and many have already invested in Bitcoin to park their cash. For remittances, digital currencies offer far more flexibility as forex charges are pretty much non-existent and third-party players are minimal. El Salvador became <a href="https://www.businessinsider.in/cryptocurrency/news/a-country-in-central-america-will-become-the-first-sovereign-government-to-approve-bitcoin-as-legal-tender/articleshow/83335659.cms">the first country</a> last week to accept Bitcoin as legal tender alongside the US dollar due to the same reasons. However, a CBDC offers more control to the central bank and adds sovereign value, eliminating the high volatility that has plagued cryptocurrencies since their debut. <h2 style="line-height:1.38;margin-top:18pt;margin-bottom:6pt;">What is a CBDC?</h2>Unlike Bitcoin or <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">Ethereum</a>, which are decentralised blockchains and entirely dependent on market forces, a CBDC — central bank digital currency — is an instrument that replaces a physical banknote with a digital token or record. It’s available exclusively in digital form and can only be issued by banks as well as selected financial institutions. A central bank can record and verify all CBDC transactions. Meanwhile, there’s no gold or other commodity reserve to back it. However, unveiling a CBDC is an extremely complex undertaking that requires years of planning, testing, and scaling. China <a href="https://www.scmp.com/comment/opinion/article/3136506/how-chinas-digital-currency-leading-race-displace-bitcoin-and-other">leads</a> the race currently and its pilot program is already active in a few cities. However, smaller countries like El Salvador cannot justify creating a new monetary policy out of scratch, and hence, choose to embrace existing cryptocurrencies. Right now, it’s impossible to say which system works more efficiently as each has its unique selling point. Cryptocurrencies offer some level of anonymity and are practically borderless. A CBDC, while not as decentralised, can offer a stable value in comparison to the volatility seen in private cryptocurrency. However, it raises questions of state-backed surveillance, tighter controls, and the high costs associated with the rollout. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a> <a href="https://www.businessinsider.in/business/news/why-dodla-dairy-has-no-plans-to-expand-beyond-southern-india/articleshow/83503817.cms">Here’s why Dodla Dairy has no plans to expand beyond southern India for at least the next two years even with its IPO</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a>

Nigeria joins China, Brazil and others in the race to launch its own central bank digital currency

<ul><li>KIMS is a Hyderabad-based company that operates multi-specialty hospitals in Telangana and Andhra Pradesh.</li><li>It has nine hospitals across the two states with an aggregate bed capacity of over 3,000.</li><li>It intends to use the proceeds of the IPO towards expanding its operations in adjacent areas like Bengaluru, Chennai, Bhubaneshwar and even Central India.</li></ul>The Hyderabad-based <keyword id="137580" type="ORGANIZATION" weightage="20" keywordseo="Krishna-Institute-of-Medical-Sciences">Krishna Institute of Medical Sciences</keyword> (KIMS) is banking on a bullish market to mop up ₹2,100 crore from its initial public offering (IPO), as it looks to pare its debt and become more agile. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue opens </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 16, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue closes </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 18, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹815-825 per share </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Market lot </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18 shares </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Minimum order value </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹14,850 </td></tr></tbody></table> The Hyderabad-based company filed its draft red herring prospectus (DRHP) in April this year, with plans to raise ₹200 crore from the IPO via a fresh issue of equity shares. In addition to this, the company’s existing investors, US equity giant General Atlantic and the promoters, will offer 21.3 million shares totaling to ₹1,950 crore. With over two decades of history, KIMS is one of the largest private hospital chains in Andhra Pradesh and Telangana. It currently operates nine multi-specialty hospitals under the KIMS Hospitals brand. Also read: <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> In total, KIMS has a bed capacity of 3,064, out of which 2,500 were operational as of December 31, 2020. <div type="image" title="KIMS IPO Revenue Profits." msid="83426697" hostid="261" caption="&amp;lt;p&amp;gt;KIMS revenues and profits over the last four years&amp;lt;/p&amp;gt;"></div> According to an Axis Capital report, the 3-year compounded annual growth rate (CAGR) of KIMS is the best amongst major hospital players. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CAGR (2017-2020) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">KIMS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Manipal Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Healthcare Global </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>Source: Axis Capital <cmsannotation type="cmsannotation" annotationid="Using the bullish equity market to pare its debt" comment="subhead" text="Using the bullish equity market to pare its debt">Using the bullish equity market to pare its debt</cmsannotation> The IPO proceeds worth INR 200 crore will go to the company. Of this, it intends to repay ₹150 crore worth borrowing. The remaining ₹50 crore will go towards general corporate purposes, which can include capital expenditure, partnerships, among other things. <cmsannotation type="cmsannotation" annotationid="Expansion plans get a shot in the arm" comment="subhead" text="Expansion plans get a shot in the arm">Expansion plans get a shot in the arm</cmsannotation> KIMS wants to ride the bull run in India’s equity markets to expand its operations to adjacent areas like Karnataka, Odisha, Tamil Nadu and even central India. Among these, Bengaluru and Chennai could be the next big markets for KIMS. Apart from this, the liquidity boost could help KIMS expand its bed capacity and healthcare equipment to augment its operations. <cmsannotation type="cmsannotation" annotationid="Revenue concentration remains a key area of concern for KIMS" comment="subhead" text="Revenue concentration remains a key area of concern for KIMS">Revenue concentration remains a key area of concern for KIMS</cmsannotation> The hospital’s two branches, namely KIMS Kondapur and KIMS Secunderabad – both located in Hyderabad – contribute nearly two-thirds to the total revenue of the company. A high concentration of revenue could hamper the company’s prospects if it cannot expand and diversify in a meaningful manner. <cmsannotation type="cmsannotation" annotationid="KIMS says COVID-19 had a noticeable adverse impact on its operations" comment="subhead" text="KIMS says COVID-19 had a noticeable adverse impact on its operations">KIMS says COVID-19 had a noticeable adverse impact on its operations</cmsannotation> Despite a surge in revenue and profit, KIMS says that the COVID-19 pandemic had an adverse impact on its operations. The company says that in March 2020 and more so in April 2020, it witnessed a substantial decline in in-patient and out-patient volumes. When compared to February 2020, its inpatient volumes fell by more than half in April 2020. It also notes that some patients were reluctant to visit hospitals due to a perceived notion of increased risk of infection. Heightened risk of its doctors, nurses and other healthcare workers, and a resulting increase in costs to ensure their safety also remains another area of concern for the company. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-would-be-the-largest-ever-for-an-automotive-component-maker-in-india/articleshow/83369745.cms">Blackstone-backed Sona Comstar’s ₹5,500 crore IPO could open next week, reports suggest</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a> <a href="https://www.businessinsider.in/business/startups/news/softbank-backed-paytm-pivots-to-a-3-billion-ipo-plan-a-year-into-the-pandemic-it-could-be-the-largest-market-debut-in-india/articleshow/83000446.cms">Softbank-backed Paytm fast tracks IPO plan a year into the pandemic ⁠— a $3 billion fundraising could be the biggest market debut in India</a>

KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations

The second wave of the COVID-19 pandemic has stopped in its tracks the green shoots of economic recovery that were visible. Simultaneously, it induced a triple crisis of disrupting the supply chain, demand, and workforce for India's fragile Micro, Small, and <keyword id="126907" type="COMPANY" weightage="20" keywordseo="Medium-Enterprises">Medium Enterprises</keyword> (<keyword id="6393272" type="UNKNOWN" weightage="20" keywordseo="MSMEs">MSMEs</keyword>), which are often cited as the backbone of the Indian Economy. While MSMEs were already finding it difficult to manage their cash flows including the rigorous lending criteria of banks and non-banking finance companies (NBFCs) with limited assets to use as collaterals, this disruption meant a double whammy of further delay in settling of their receivables as well as lenders becoming more risk averse. While the government and the Reserve Bank of India (RBI) announced a slew of measures, including the issuance of credit schemes and calling out financial institutions to adopt cash-flow-based lending, yet the transmission of these relief measures to a majority of MSMEs remains a challenge. This highlights that the crux of the problem is not the lack of schemes, rather the informal nature of MSMEs and lack of organised set of financial documents, which casts a unique challenge for lenders to assess the creditworthiness of these enterprises. Today, just 40% of the sector’s credit demand is met by formal credit. Add to that the information asymmetry between the data available for MSMEs vis-à-vis large and mid-sized corporates where the lenders’ tend to apply the same lens of existing credit-risk assessment processes to MSMEs to those applicable for larger corporates. This often multiplies the operating cost for lenders to serve MSMEs as compared to the return on their loans. Though this scenario and the increasing credit requirements of MSMEs point to a colossal credit gap of ₹ 30 lakh crore, it underscores the critical role financial technology (FinTech) companies and new-age lenders can play in supporting MSMEs to adapt to the changing reality and respond to the challenges. <cmsannotation type="cmsannotation" annotationid="Capitalising on creditworthiness" comment="subhead" text="Capitalising on creditworthiness">Capitalising on creditworthiness</cmsannotation> The marriage between technology and financial services provides digital lenders an opportunity to focus on making MSMEs profitable and creditworthy. Alternative sources of data, such as cash flow, utility bill payments, point-of-sale transaction records, and even information from e-accounting programs can help put in place a comprehensive model to assess MSMEs’ business health. Further, by incorporating Artificial Intelligence, Machine Learning, and analytics into these models, lenders can build a more accurate financial health model with a comprehensive credit risk profile to detect and mitigate fraud and NPA risks. <cmsannotation type="cmsannotation" annotationid="Unlocking cash flow and reducing days sales outstanding" comment="subhead" text="Unlocking cash flow and reducing days sales outstanding">Unlocking cash flow and reducing days sales outstanding</cmsannotation> In addition to simplifying the lending process, innovative technology leveraged by FinTechs can enable electronic invoice presentation, processing, and reconciliation that will also help in better credit monitoring. Considering that chasing late payments is a tiresome process that leads to locked up working capital, e-invoicing can help in significantly removing procedural delays resulting from manual processing of invoices. It also reduces the time required to make and receive payments, gives a real-time status of pending invoices, and helps release locked up cash flow. In addition, MSMEs can also leverage these e-invoices to avail loans instantly, as the process to verify the genuineness of invoices by lenders can be reduced significantly. <cmsannotation type="cmsannotation" annotationid="Financing through digital supply chain platforms" comment="subhead" text="Financing through digital supply chain platforms">Financing through digital supply chain platforms</cmsannotation> <keyword id="168300" type="COMPANY" weightage="20" keywordseo="digitalisation">Digitalisation</keyword> of supply chains has been a game-changer for MSMEs that has enabled faster liquidity for them. While banks continue to assess creditworthiness for collateral-based lending to MSMEs, new-age lending platforms can digitally evaluate transaction data through AI-driven credit models in near real-time and offer trade financing products and services contextualised to the parties involved in the trade. Some platforms allow integration of their products and services into banks’ MSME platforms, which can subsequently be offered to MSME customers through digital medium. While no one solution can bridge the existing credit gap for MSMEs, leveraging alternative financing tools, such as e-invoice financing, peer-to-peer lending, and TReDS can go a long way in addressing this issue and create an enabling environment for MSMEs. Further, with the COVID-19 pandemic continuing to disrupt economic activities worldwide, FinTechs, banks, and NBFCs will have to come together to build differentiated lending models to forge the right balance for financial stability and create solutions for the credit needs of MSMEs. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a> <a href="https://www.businessinsider.in/business/news/why-dodla-dairy-has-no-plans-to-expand-beyond-southern-india/articleshow/83503817.cms">Here’s why Dodla Dairy has no plans to expand beyond southern India for at least the next two years even with its IPO</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a>

Cash, capital and credit trickle down to small businesses at a frustratingly slow pace — tech can speed them up

<ul><li>The <keyword id="10857125" type="UNKNOWN" weightage="20" keywordseo="KIMS-IPO">KIMS IPO</keyword> goes live today, June 16, and it will be open for subscription till June 18.</li><li>The total IPO size is ₹2,144 crore. The price band is fixed at ₹815-825, and each lot consists of 18 equity shares.</li><li>Analysts are bullish on the company, but also state that the valuation could be slightly on the expensive side.</li></ul>The KIMS IPO opens tomorrow and hopes to mop up ₹2,144 crore from the bullish share markets. It is one of the five IPOs to launch this week, with several others to come in the next few weeks. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue opens </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 16, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Issue closes </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">June 18, 2021 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹815-825 per share </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Market lot </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">18 shares </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Minimum order value </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹14,850 </td></tr></tbody></table> Here’s how much of the issue is reserved for different categories of investors: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Share of issue reserved </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">75% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> KIMS counts the US-based equity giant General Atlantic amongst its investors. Out of the ₹2,144 crore that it aims to raise from the markets, ₹1,944 crore will be via offer for sale from the existing investors, including General Atlantic. The remaining ₹200 crore will be raised via a fresh issue of equity shares. <div type="Article" hostid="261" msid="83425142" title="KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Objects of the issue" comment="subhead" text="Objects of the issue">Objects of the issue</cmsannotation> The company’s prospectus states that out of the ₹200 crore fresh issue, ₹150 crore will be used toward payment of certain borrowings, which will help reduce its cost of finance. The remaining ₹50 crore will be used towards general corporate purposes, including bed capacity enhancement. <cmsannotation type="cmsannotation" annotationid="Here’s what analysts are saying" comment="subhead" text="Here’s what analysts are saying">Here’s what analysts are saying</cmsannotation> Analysts at Angel Broking recommend subscribing to the KIMS IPO, stating that the company’s expansion plans can be funded through its cash reserves. “The company has one of the best return on equity and return on capital employed ratios of 23.8% and 24.8% respectively. It has a very healthy balance sheet with negative Net Debt/Equity. We believe that the upcoming expansion plan in Bangalore and Chennai can be funded through internal accruals and minimum amount of debt,” Angel Broking said. Analysts at Ventura Securities are bullish about the growth prospects of KIMS, highlighting the presence of the company in Tier I, II and III markets across south India, affordable healthcare, comprehensive infrastructure, and strong brand equity. Stating that they believe there is a potential upside of 55% from the issue price of ₹825, Venture Securities give a thumbs up to KIMS IPO. “We value the stock at ₹1,275. This represents a potential upside of 55% from the IPO price of ₹825 per share (upper band) over the next 24 months,” the research firm said. On the other hand, while the analysts at Choice Broking recommend subscribing to KIMS IPO, they state that the valuation is expensive when compared to the industry average. “We view sustaining margin at these levels (way above industry trend) would remain a challenging task. Further, business is skewed towards a particular region, that is, Andhra Pradesh and Telangana, which may restrict KIMS to leverage growth opportunities,” the brokerage said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/analyst </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;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;">Ventura Securities </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;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;">Choice Broking </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">Subscribe with caution </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;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;">Dilip Davda </td><td style="border-left:solid #000000 0.6260872500000001pt;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;">Subscribe for long term </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Understanding the business of KIMS" comment="subhead" text="Understanding the business of KIMS">Understanding the business of KIMS</cmsannotation> KIMS, also known as Krishna Institute of Medical Sciences, is a Hyderabad-based chain of multi-specialty hospitals offering a broad spectrum of healthcare facilities. With over two decades of history, KIMS is one of the largest private hospital chains in Andhra Pradesh and Telangana. It currently operates nine multi-specialty hospitals under the KIMS Hospitals brand. In total, KIMS has a bed capacity of 3,064, out of which 2,500 were operational as of December 31, 2020. <div type="image" title="KIMS IPO Revenue Profits." msid="83547882" hostid="261" caption="&amp;lt;p&amp;gt;KIMS revenues and profits over the last four years&amp;lt;/p&amp;gt;"></div> According to an Axis Capital report, the 3-year compounded annual growth rate (CAGR) of KIMS is the best amongst major hospital players. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">CAGR (2017-2020) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">KIMS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Narayana Hrudayalaya </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Manipal Hospitals </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Healthcare Global </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr></tbody></table>Source: Axis Capital SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/kims-ipo-everything-you-need-to-know-about-krishna-institute-of-medical-sciences-ipo/articleshow/83425142.cms">KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations</a> <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a> <a href="https://www.businessinsider.in/stock-market/news/shyam-metalics-ipo-price-gmp-should-you-subscribe/articleshow/83506838.cms">Shyam Metalics IPO worth ₹909 crore is live – find out if you should subscribe to this Kolkata-based producer of long steel products</a>

KIMS IPO – most analysts are bullish on the hospital chain’s prospects

<ul><li>Spencer's is trailing behind <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">BigBasket</keyword> in terms of revenue, despite its heavy offline presence.</li><li>Revenue of Spencer’s was 30% less than online grocery delivery startup BigBasket in the financial year 2020.</li><li>BigBasket may record its best financial performance in 2021, whereas Spencer’s has reported a decrease in sales.</li></ul>The year 2020 has been a game changer for India Inc. in many aspects. From shopping to working, everything has taken a digital spin and the debate of ‘online vs offline’ has been getting much stronger. Thirty two-year old Spencer’s Retail, one of the prominent retail chains in India ⁠— owned by RP Sanjiv Goenka group ⁠— reported its annual financial report and it was a fairly decent one. The business was surely affected by the Covid-induced lockdown in the first quarter of fiscal year 2021 (FY21), but was flourishing the rest of the year. Yet, its revenue dipped 7% to ₹2,481 crore and losses widened to ₹163.8 crore. This really got us wondering how the company fares in comparison to other players in the grocery segment -- both online and offline. Online grocers are cumulatively the third largest player in the market behind DMart and <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword>, according to a report dated June 4 from the broking firm Motilal Oswal. BigBasket is the biggest of that lot. What’s more shocking is the fact that BigBasket, just 10 years old in the market, earns more revenue than Spencer’s. The comparison between BigBasket and Spencer’s may be of apples and oranges, but it is definitely an interesting one. The three-decade-old Spencer’s, which has a strong presence across 191 stores across 42 cities, earned almost 30% less than a decade-old online grocery business BigBasket in FY20. A scan of the last three financial statements (between FY18 to FY20) of the companies, revealed that this gap in revenue is not a new one. This trend is expected to be carried forward in FY21 as well, especially with the sort of growth BigBasket has witnessed last year. Being the biggest player in the online grocery space, the company has doubled its daily deliveries to 3 lakh compared to pre-Covid days. The company claims to have clocked a gross sale of ₹8,000 crore ($1.1 billion) in FY21. Though BigBasket is yet to report its financial statement for FY21, Business Insider has mailed the company seeking more details of their financial performance. It is expected to be the strongest one yet at least in terms of the revenue growth. No wonder, Tata Group was <a href="https://www.businessinsider.in/business/startups/news/tata-tryst-with-e-grocery-starts-with-a-billion-dollar-acquisition-of-bigbasket-heres-why-it-could-be-a-sweet-deal-for-both/articleshow/81478849.cms">compelled</a> to acquire BigBasket in order to pursue its Super App dreams. Spencer’s, on the other hand, has reported receding revenue and widening loss during FY21. Though the company did test out a hybrid model by experimenting with online delivery in partnership with Dunzo and Uber last year, that doesn’t seem to have made much of a difference for the company either. Its revenue from sales (operating revenue) reported a 7% dip to ₹2,428 crore compared to ₹2,644.80 crore reported in FY20. Well, BigBasket is actually much worse than Spencer’s in terms of its losses. The company had been burning cash ever since its inception in 2011 and is nowhere close to profitability. Whereas, Spencer’s had hit profitability in FY19, but went back to reporting a loss soon after. According to stock broking house Motilal Oswal’s latest report on the retail segment, the online grocery segment has grown about 30 times over the last seven to eight years to reach $3 billion. Currently, India has about 154 million transacting households. Of which, 130 million are already using online grocery solutions, creating an addressable market of $293 billion. Historically, the e-grocery segment has garnered a single-digit share of the overall organised grocery market in India, but 2020 brought these online grocery solutions to the forefront as stepping out of the house was no less than a health hazard, due to the pandemic. Not only Spencer’s, but other traditional retail players like DMart and BigBazaar were compelled to take up an omnichannel approach and started taking online mode of ordering in partnerships with logistics and transportation players like Uber, Ola, Dunzo, Rapido and more. Besides this, Reliance’s JioMart expanded its presence from three cities to 200 cities in May 2020 in order to take a<a href="https://www.businessinsider.in/business/ecommerce/news/heres-what-gives-jiomart-an-edge-over-its-competitors-according-to-goldman-sachs/articleshow/79054698.cms"> bigger share</a> of the market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a> <a href="https://www.businessinsider.in/business/news/why-dodla-dairy-has-no-plans-to-expand-beyond-southern-india/articleshow/83503817.cms">Here’s why Dodla Dairy has no plans to expand beyond southern India for at least the next two years even with its IPO</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a>

You Searched For "sona comstar" and got 8 results

Larsen & Toubro Infotech to buy Pune-based digital engineering firm CueLogic

PTI

Adani Group is reportedly planning to launch IPOs of its airport and food businesses

Rounak Jain

Shyam Metalics IPO worth ₹909 crore is live – find out if you should subscribe to this Kolkata-based producer of long steel products

Rounak Jain

Nigeria joins China, Brazil and others in the race to launch its own central bank digital currency

Shivam Vahia

KIMS IPO: The Hyderabad-based hospital chain is banking on the bull run in the markets to pare its debt and expand its operations

Rounak Jain

Cash, capital and credit trickle down to small businesses at a frustratingly slow pace — tech can speed them up

Narayan ‘Naru’ Ramamoorthy

KIMS IPO – most analysts are bullish on the hospital chain’s prospects

Rounak Jain

Did you know? BigBasket makes more revenue than 32-year old Spencer’s Retail

Kritti Bhalla