ETMarkets After Hours: D-Mart parent IPO fully subscribed on Day 1; airline stocks fly
The BSE Sensex and NSE Nifty slipped for the second straight session on Wednesday amid selling in selected metal, energy, IT and auto stocks.
Overall, market sentiments remained cautious ahead of the outcome of state elections and next week’s policy review by the US Federal Reserve.
Shares of SpicejetBSE 2.86 %, Jet AirwaysBSE 3.07 % and InterGlobe Aviation gained 2.86 per cent, 3.07 per cent and 2.26 per cent at Rs 77.40, Rs 450.10 and Rs 879.75, respectively.
Smooth sailing: The initial public offering (IPO) of Avenue Supermarts, which owns supermarket chain of D-Mart, got fully subscribed on Day 1 of the bidding process.
Data available with the stock exchanges showed the issue had received 4.90 crore bids by 3.30 pm, which was higher than 4.4 crore shares on the block.
At new all-time high: Private lender Kotak Mahindra Bank on Wednesday said its board has approved raising the ceiling of investment by foreign institutional investors to 42 per cent.
Later, the scrip closed 0.94 per cent up at Rs 825.
Sectorwise: Among the sectoral indices on BSE, the Metal index slipped the most at 1.91 per cent, followed by Realty (down 1.44 per cent), Oil & Gas (down 1.38 per cent), Power (down 0.64 per cent) and Capital Goods (down 0.62 per cent) indices.
Spurt in OI: Stock futures of GAILBSE -1.18 % saw the biggest jump in open interest (OI) at 39.21 per cent.
It was followed by MTNLBSE 16.04 %, GMR Infra, Reliance CommunicationsBSE -4.43 % and HindalcoBSE -1.38 %.
Flipkart’s Hedge Fund Boss Is Looking for $1.5 Billion
No investor has more to lose from the potential implosion of Indian e-commerce company Flipkart than its biggest backer, New York’s Tiger Global Management.
Amazon, determined to get it right in India after being vanquished in China, has pledged to spend $5 billion on its India operations over the next few years; a new rival, Paytm E-commerce Pvt, backed by China’s mighty Alibaba Group Holding Ltd., has joined the race.
Flipkart is in discussions with a range of investors including Microsoft Corp., EBay Inc. and Tencent Holdings Ltd. to raise anywhere from $1.2 billion to $1.5 billion, enough to carry it through another four years, according to a person familiar with the situation.
That would be down from $15.5 billion in 2015.
A few years ago, Indian startups could do little wrong in the eyes of investors, who saw the nation of 1.3 billion people as a democratic, relatively free-market version of China.
Hundreds of Indian internet startups are losing money, cutting jobs and reducing valuations in exchange for fresh financing.
He first arrived at Flipkart in early 2013 as interim chief financial officer to support Flipkart’s two co-founders, Binny Bansal and Sachin Bansal (no relation).
But as the company struggled, long-time CEO Sachin Bansal gave up the post to his co-founder in early 2016.
When Ravichandran suggested moving up the sale by several days to gain an edge over the competition, Krishnamurthy helped her persuade the rest of the team.
“Who can afford to ignore a market that is already bigger than the largest market in Europe?” As India’s biggest e-commerce player, Flipkart is counting on having the resources and market share to stay in the game for a few years.
Music Broadcast IPO subscribed 2.18 times
Music Broadcast IPO subscribed 2.18 times.
The IPO, which comprised 10.45 million shares excluding the anchor investors’ portion, received bids for a little over 22.93 million shares, stock-exchange data showed.
The quota of shares reserved for institutional buyers was subscribed 105% on the second day.
The portion set aside for non-institutional investors, such as corporate houses and wealthy individuals, was covered a tad more than 24%.
Entertainment Network commands a market valuation of about Rs 3,992 crore ($599 million), stock-exchange data show.
Music Broadcast, which is majority-owned by Blackstone-backed Jagran Prakashan Ltd, had on Friday raised Rs 146.55 crore ($22 million) through the sale of shares via anchor allotment ahead of its three-day initial public offering (IPO) beginning Monday.
The company issued about 4.41 million shares to 17 institutional investors at Rs 333 per share, stock-exchange filing showed.
Those who bought the shares include funds of Morgan Stanley, BlackRock, Franklin India, Nomura and Pictet Mauritius.
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The Interview Process: 4 Simple Ways to Make it ‘Forward-Thinking’
Given that challenge, Gateway changed its hiring process.
But an ATS alone cannot guarantee success in hiring the best quality talent.
The Brandon Hall Group published a study, The True Cost of a Bad Hire, in 2015, finding that 69 percent of companies surveyed identified a broken review process as the “greatest impact on the quality of a hire.” The solution to building a good interview process, then, is to make sure it’s consistent.
The data won’t effectively reveal the quality of the potential new hire if the candidate is able to cheat the system to make himself or herself look better.
Hiring managers equipped with hard data will be able to identify any gaps or problems potential employees have, then adjust the process as needed.
A 2017 survey, Human Capital Management, by HR.Com and my own company, ClearCompany, found that only 47 percent of participants measured the quality of their hires.
Without assessing and adjusting for overall employee satisfaction and performance metrics in the hiring process, an organization risks costly losses, due to future failures in employee retention.
When data and analytics drive the interview process, new hires are more likely to satisfy all of the demands of their new roles, including employee and customer relations.
Overall: Plenty of methods exist to ensure an improved interview process and the hiring of better talent.
Whether it’s through consistency, creative questions or metrics, hiring managers need to focus on how to maximize the hiring process through forward thinking and create a strategy that works for their organizations’ needs.
How To Protect Your Service Business and Brand It For Success
How To Protect Your Service Business and Brand It For Success.
What fidelity is used to join businesses that are 100 percent or largely service businesses?
The truth is, if you have a product, your product is your brand and can sustain you.
When your business has to deal purely with services rendered, like a hair salon, telecommunications business, clinic, car wash or property management business, you need feedback much more than any other business.
Feedback helps you know what to work on or what to keep up.
Make feedback avenues available and beyond that, encourage and ask for it.
The high profile Yahoo hack was an eye-opener for everyone involved in the service business.
While you need the visibility that billboards, logos and conventional advertising will give you, to sustain the business in the long run, you need to concentrate more on personal branding and learn how to brand for success.
The question — “What do you want your business to be known for?” For service-based businesses, what do you want to be known for?
Consistency is not very relevant if you have a weak brand, but if you have developed a strong personal brand, efforts should be put towards maintaining that brand through the consistency of customer interactions.
How to Maximize Engagement With Intelligent Apps
After all, AI has come a long way since Siri.
This led to new versions of Echo, and then Amazon had a flash of brilliance: It opened Alexa to development by outside companies, offering the Alexa Skills Kit and the Alexa Voice Service — both simple and free of charge.
Developers could now build new capabilities for the device and even integrate its service into their own products.
Not to be outdone, Google has focused its resources on its Google Assistant platform.
Google has integrated Assistant into the Android operating system and lets developers add to its engine, making the system smarter each day.
So, companies should that interest as a sign to start incorporating this technology into their products.
The ease of use makes AI attractive to consumers.
Integrating these technologies calls for a long, hard look at the product.
For example, would the ability to ask a Home, Alexa or Siri to perform an operation offer the user any additional value?
Now, it’s up to today’s companies whether their products will wear the AI crown.
5 Lessons I Learned Following Steve Blank’s ‘The Four Steps to the Epiphany’
5 Lessons I Learned Following Steve Blank’s ‘The Four Steps to the Epiphany’.
By “works” I mean it’s the best way to validate your idea.
Panamplify automates client report building for marketing agencies.
In order to verify the need we were confident existed, we built a real client report for an agency and delivered it to them literally by hand.
We have not had to pivot at Panamplify but we have endured countless iterations in the last two years.
Don’t think you already know who your customer is.
Would these agencies actually pay for a product/solution?
In Customer Discovery, the goal is to identify the customer that will pay for our product.
In Customer Validation we built the Panamplify platform to match exactly what we had “discovered.” I spent most of my time honing and defining a repeatable sales process all the while feeding Chris and his development team additional customers.
After a gruelling customer validation process, we identified two truths — we got the list mostly right and the order mostly wrong.
3 Effective Ways to Manage Employee Burnout
3 Effective Ways to Manage Employee Burnout.
However, there are many methods employers can utilize to reduce workplace stress — and it all starts with understanding what causes the stress to begin with.
Know what stresses out your employees.
When it comes to workplace stress, there are several factors involved.
Chances are, they will not approach you about increased stress levels; after all, they may worry their job could be on the line.
However, there are many ways you can make your workplace more peaceful.
Though it is not one of the most cited issues, feeling like every tiny movement is controlled and monitored is a quick way for employees to become burned out from stress.
One of the most important factors millennials consider when in search of a job is the workplace environment.
Further, you have to sit down and deal with the paperwork and call around to get the shift covered.
By granting autonomy in scheduling, you lower stress levels for both your employees and yourself.
Music Broadcast IPO subscribed fully on Day 2
Music Broadcast IPO subscribed fully on Day 2.
New Delhi, March 7: The initial public offering of Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel, was oversubscribed on the second day of the offer today.
The IPO received bids for 1,05,34,230 shares against the total issue size of 1,04,80,784, an oversubscription of 1.01 times, data available with the NSE till 12.30 pm showed.
Music Broadcast Ltd had last week raised over Rs.
146 crore by allotting shares to anchor investors.
400 crore and an offer for sale of up to 26.59 lakh scrips.
It has fixed a price band of Rs.
Shares of the company are proposed to be listed on BSE and the NSE.
For the six-month period ended September 30, 2016, Music Broadcast generated total revenue of Rs.
138.21 crore and net profit of Rs.
Do investors care if your startup has a “big name” shareholder?
If executed well, the positive associations that derive from name dropping can lift the perceptions of one’s position in the social hierarchy.
In the world of startups where funds are somewhat tighter, this effect is often achieved by bringing on a “big name” investor.
As an example, telco and advertising startup Unlockd recently achieved some positive attention around its “high-profile investors” (Lachlan Murdoch and Greg Roebuck).
In fact, finding a big name investor might even be considered an integral part of any startup’s corporate strategy.
Here are some of the reasons a big name investor can help boost your startup’s profile and, in turn, your capital raising prospects.
Nobody Likes Being First to The Party It’s human nature to be cautious about being the “first mover”.
FOMO, or “fear of missing out” is a well-documented motivator for investing in a company.
The lead investor might negotiate the term sheet, carry out the due diligence, talk to customers and staff, and negotiate the shareholder agreement on behalf of all the investors coming into the capital raising round.
What you’re looking for is a large media outlet to pick up the story, detail your funding success, and – most importantly – detail the product you’re bringing to market.
If you have a big name on board, you are far more likely to achieve the headlines you’re looking for.
Maryland Fund Offers Startup Help to Minority Entrepreneurs
He went back to Baltimore, and kept on attending startup and entrepreneurship events around town.
As he continued attending events, people he had met earlier and lunched with would see him, and introduce him to other people they knew around the room.
Nowadays, Conwell is the one on stage giving presentations as an investor himself, in his capacity as the deal team coordinator at TEDCO, a Maryland state-affiliated startup assistance and seed investor organization that recently launched a new Minority Business Pre-Seed Fund.
And yet, there is evidence that entrepreneurship can reduce racial wealth disparities.
It might sound risky, but TEDCO and Harbor Bank CDC are just two of many early-stage investors that use convertible notes.
According to TEDCO, the 250-plus companies in its current portfolio generate more than $1 billion dollars a year in economic activity in the state of Maryland, including 4,300-plus jobs at an average wage of $74,700.
Harbor Bank CDC has also been making use of convertible notes to invest in companies that might be too early in their lifecycle to access a bank loan.
For a $100 processing fee, GunBail sends a properly addressed box to the defendant’s family, allowing them to turn in an illegal gun to their municipal gun drop-off or buyback program on behalf of their jailed family member.
TEDCO also provides mentoring, technical assistance and connections to its networks for all its portfolio companies, often before they’ve even invested.
And if they ever want to accompany Conwell to a startup or entrepreneurship event around town, they can just ask.
S Chand gets Sebi go-ahead to launch IPO
S Chand gets Sebi go-ahead to launch IPO.
New Delhi: Leading text book publisher S Chand and Company has received markets regulator Sebi’s approval to float an initial public offering (IPO).
This includes fresh issue of shares worth Rs 300 crore.
The company had filed draft red herring prospectus (DRHP) with Sebi in December last year to float an initial public offer.
It received Sebi’s ‘observation’ on 3 March 2017, which is necessary for any firm to launch its public offer, as per the latest update.
The loan amount includes those taken by its subsidiary for funding the acquisition of Chhaya Prakashani.
The company offers 53 consumer brands across knowledge products and services including S Chand, Vikas, Madhubun, Saraswati, Destination Success and Ignitor.
So far this year, Asia’s oldest stock exchange BSE got listed on the rival NSE’s platform, while initial share-sale of Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel, is currently underway.
Further, Avenue Supermarts, that runs supermarket retail chain D-Mart, will come out with its Rs 1,870-crore IPO on Wednesday.
Going ahead, many companies such as Shankara Building Product, BSE-promoted CDSL and test-prep player C L Educate have lined up their IPOs.
Frankfurt’s startup ecosystem challenges: Cracking the funding nut
This is how young companies are overcoming the bias against startups and getting funded It may sound unusual for the city that has made its name as the banker of Europe, but local companies in Frankfurt are facing difficulty finding funding.
There have of course been some success stories this past year as insurtech startup Clark raised €13.2 million, saving app Savedroid took home €1 million, and automated investment advisor (aka.
Part of the issue that he points to is the small number of local VCs and angels, forcing the companies to look for corporate investments that can take a long time to materialize.
Funke believes that the banks should be giving out more seed money based on conditions that are more appropriate for the startup business, and not based on traditional understandings of who should qualify for an investment.
This local group brings together entrepreneurs and investors, helping to facilitate these much-needed connections and raising over €10 million in seed for the young companies.
Kuczaj informs Geektime that despite the fact that there is a lot of money in the area with big M&A deals and IPOs, much of this cash has not found its way down to the seed funding of startups.
“For years now small seed investments of €100,000 to €1 million were pretty difficult because the VCs had to do the same, costly due diligence with a €250,000 deal like they have with a €5 million deal.” Thankfully he says there is now progress on this front, due in large part to the Pitch Club.
“We managed to address and bring together a solid base of investors in the meantime,” he explains, noting that, “In the last nine sessions of the Pitch Club over 90 startups pitched their companies in front of more than 300 investors.
Part of this work he says will need to focus on increasing the attractiveness of Frankfurt startups for international investors.
Deutsche Bank and Commerzbank may be tough nuts to crack, but they are starting to understand that they need the technology that these startups are putting out.
3 Ways to Figure out the Value of Your Time as an Entrepreneur
When you write up your first business plan or even start thinking about building a business, you’ll spend a lot of time setting prices for your products or services.
Here’s the thing: While many entrepreneurs may take their time and conduct significant research to value their products properly, they end up undervaluing or failing to value something else that’s just as important (if not more so): their time.
And, in those cases, you’ll need to set a fair price just as you would with a product.
So, here are a few ways to properly set the value of your time.
Estimate your would-be salary.
Your first step should be to roughly estimate what your salary should be.
With that, you should have a ballpark of what your fair hourly rate would be.
Evaluate your competition Next, take a look at other consultants and entrepreneurs in your area, doing what you do.
Obviously, you’ll have more responsibilities (and probably more experience) than your employees.
On the surface, it may seem like setting a value for your time is unnecessary, or redundant, but it’s both a valuable decision-making tool and a way to fairly price your own services.
34 Latin-X startups to watch in 2017
34 Latin-X startups to watch in 2017.
Konfio Getting on board with the startup scene, Konfio is a startup that offers funding to other startups.
Conekta Those that want to start an online business can have trouble receiving payments for any good or service they sell.
The aim of the startup is to facilitate the process of making payments among Spanish-speakers.
Yogome Education isn’t just important for entrepreneurs.
InfoPrice connects sellers with the right markets and stores to improve margins and increase sales.
DogHero Pets have always been important to people, but they are sometimes hard to travel around.
BovControl Farming and growing livestock are still a huge part of business in many Latin American countries, but that doesn’t mean that its agricultural sector is without internet or technology.
Nexer tracks your car’s location, keeps you in touch with a mechanic online and keeps track of your car’s computer at all times.
Unless you’re going to a cocktail bar, it’s hard to get a high quality drink.
3 Ways to Use Conflict to Strengthen Your Startup
3 Ways to Use Conflict to Strengthen Your Startup.
But, with a strategy in place to manage conflicts when they arise, you can strengthen your team’s resolve and improve its ability to handle future challenges.
Here are three ways to transform conflict from a concern to a tool that focuses passion on productive actions, improves communication and fosters strong relationships.
To avoid catastrophic disagreements in the future, build a team of like-minded people.
Disagreements with foundational values may not be reconcilable, but it’s best to communicate openly and find that out as early as possible.
This helps both parties understand the other person’s perspective and hopefully show some empathy.
This exercise helps get to the root of problems while validating, building trust and creating an atmosphere where team members can respectfully disagree but take the next step forward together.
Empathy, however, improved our relationships with our external partners and our teammates, resolving a conflict starting to take root.
A positive, trusting environment will also make giving and receiving feedback a more helpful practice.
Constructive criticism can be tricky to receive, but it goes much more smoothly when people trust that the person dishing it out has the company’s and the receiver’s best interests in mind.
Y Combinator Takes Their Stanford Startup Class Online For Entrepreneurs
Y Combinator Takes Their Stanford Startup Class Online For Entrepreneurs.
But for the majority of people there are unexpected pitfalls and roadblocks that go well beyond just getting funding.
Even great startups can fall completely apart just when everything looks good.
Thankfully, there’s a school for that.
Longtime seed funding organization Y Combinator has, in its time, contributed to more than 1,400 startups since 2005.
The likes of Airbnb, Dropbox, Twitch, and Reddit owe their origins to this group.
So it came as no surprise in 2014 when they went so far as to offer a startup class at Stanford University on the early parts of developing a startup.
Spectators will have access to all 10 lectures and class office hours made available at the site.
Startup Founders will have access to the same but also be assigned to a group of students and an Advisor who are “members of the Y Combinator alumni community who are currently running their own startup” according to the site.
While Y Combinator maintains that attending the class will not serve as a shortcut to getting into their seed funding or replacement thereof, they do consent that the coursework provided by the classes would force startups to offer more information for selection and thus improve their odds.
How to Create Company Culture and Communicate Your ‘Why’ Throughout
How to Create Company Culture and Communicate Your ‘Why’ Throughout.
This video is part of a series brought to you by Entrepreneur’s book division, Entrepreneur Press, the publisher of Jill Schiefelbein’s book Dynamic Communication: 27 Strategies to Grow, Lead, and Manage Your Business.
In this Dynamic Communication interview, author Jill Schiefelbein chats with Adam Elsesser, CEO of Penumbra, who gives a tip that can help you lead your business.
Perfect for entrepreneurs, small businesses, managers, leaders, mid-level managers, c-suite executives and more.
How do you relay the customer experience to your employees?
Learn the answer to these questions and more in this video with CEO extraordinaire Adam Elsesser.
It’s 30-plus minutes of brilliance where he breaks down the details of how he accomplished his success!
Adam’s interview excerpt is featured in Dynamic Communication: 27 Strategies to Grow, Lead, and Manage Your Business Chapter 10: Words That Bond: Common Communication Denominators In this 27-video series, the author of Dynamic Communication: 27 Strategies to Grow, Lead, & Manage Your Business, Jill Schiefelbein interviews stand-out companies and entrepreneurs to bring you great bites of information to help improve your communication and drive results.
Watch more videos from Jill on her YouTube channel and buy the book at Amazon.
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