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Honasa Consumer, parent of Mamaearth, is looking to raise Rs 400 crore through a fresh issue of shares, apart from an offer for sale of around 4.7 crore shares. “Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community”. That was Mamaearth co-founder Ghazal Alagh’s response after the company faced #FinTwit’s ire for demanding a ‘sky-high, disastrous’ valuation for its public offering. Keeping Alagh’s comment aside, it is certain that Bollywood actor Shilpa Shetty will be laughing all the way to the bank as her Rs 6.8 crore investment in the company will grow multi-fold. The question is by how much? Let’s assume that Mamaearth lists at Nykaa’s current market capitalisation-to-sales (or price-to-sales) valuation, given both are direct-to-consumer (D2C) companies in the beauty and personal care (BPC) space. Nykaa trades at 7.4 times P/S based on FY23 annualised sales. Honasa Consumer, parent of Mamaearth, … [Read more...] about Shilpa Shetty could make a killing from Mamaearth IPO. Here’s how

Air India reviewed its inflight alcohol service policy on January 24 and made some adjustments after embarrassing onboard incidents that triggered fines and public anger. As part of the review, the airline said it will adopt the US National Restaurant Association’s traffic light system to tactfully refuse alcohol to passengers if they seem to be at risk of behaving inappropriately. What is the National Restaurant Association’s traffic light system? The National Restaurant Association’s traffic light system asks servers to determine whether a customer needs to be cut off from being served liquor. The system categorises passengers into green, yellow or red stages based on their behaviour, body language, facial cues, and ability to comprehend instructions. Read More COVID-19 Vaccine Frequently Asked Questions View more How does a vaccine work? A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to … [Read more...] about MC Explains | Air India’s new system to identify drunk passengers

FTX Founder and former CEO Sam Bankman-Fried Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Federal prosecutors in Manhattan have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Bankman-Fried was not asked to enter a plea on Thursday. He has previously acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability. His defense lawyer, Mark Cohen, declined to comment after the hearing in Manhattan federal court. After the hearing, the one-time billionaire was surrounded by photographers as he exited the lower Manhattan courthouse and entered a black SUV. He sported facial stubble and a gray suit - a far cry for the shorts and t-shirt he became notorious for wearing in public appearances while running FTX. Nicolas Roos, a prosecutor, told U.S. … [Read more...] about FTX founder Sam Bankman-Fried released on $250 million bond

Hariom Pipe Industries | CMP: Rs 317.90 | The stock price surged over 11 percent after the company completed the setting up of its 15 tonne electric melting furnace and the commercial production from the same will commence from November 25, 2022. This will increase the company's production of MS billets from the current 95,832 MTPA to 1.04 lakh MTPA. Hi-Tech Pipes on Saturday reported over 28 per cent jump in its consolidated net profit to Rs 13.02 crore for the December 2022 quarter on account of higher income. The company had clocked Rs 10.16 crore during the same period of the preceding fiscal, the steel pipes maker said in a regulatory filing. … [Read more...] about Hi-Tech Pipes Q3 net profit grows 28% to 13 crore

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The share price of FSN E-Commerce Ventures , the parent company of fashion and cosmetic retailer Nykaa, continued its slide for another day on January 23 and the stock is now down over 20 percent so far this month. On the BSE, it traded down over 2 percent to Rs 124 as of 12 noon. The stock hit an all-time low of Rs 120.75 during the day as well, but saw some recovery as low levels. The stock is down 62 percent last year. The stock has been on a decline ever since the lock-in period for pre-IPO investors and the company brought a bonus issue to stabilise the share price. But now, some analysts have started upgrading their rating on the stock as prices have fallen a lot and valuation is turning favourable. “We had always liked Nykaa's business model,” said Manoj Menon, an analyst at … [Read more...] about Nykaa shares tumble 20% so far in this month; analysts find valuation ‘palatable’

Shankar Mishra, the accused in the Air India peegate case. A Delhi court on Friday adjourned Shankar Mishra's petition seeking bail to January 30. Mishra, who is accused of urinating on a woman co-passenger onboard a flight in November last year had filed a fresh bail application seeking regular bail. The court adjourned the matter after noting the investigating officer was not present. Further, the complainant's counsel was not provided a copy of the bail plea, it noted. The incident took place onboard the Air India flight from New York to Delhi on November 26, 2022. Read More Mishra was allegedly in an inebriated condition. … [Read more...] about Air India urination case: Court adjourns Shankar Mishra’s bail plea to January 30

The “watch duty time limitations and rest requirements” set forth by the DGCA on January 11 for controllers state that an air traffic controller's shift cannot last longer than 12 hours (Representative Image) The Directorate General of Civil Aviation ( DGCA ) rejected the Airports Authority of India ( AAI ) proposal to provide relaxation for airports with fewer flights in order to enable it to overcome a manpower shortage and instead issued new rules for the duty hours of air traffic controllers, as per a report in The Hindu . Although a version of these rules was initially announced in November 2020, the AAI found it challenging to comply with them because it required more staff to offer the required rest period. Since then, it has requested exemptions five times and suggested various duty hours for four distinct types of airports based on the volume of air traffic they handle: large airports, or those with more than 400 flights per day, as well as airports with up to … [Read more...] about DGCA sets new rules for duty timings of air traffic control employees

In its yield offering, Flint promised users a fixed return on their deposits of Ethereum, Bitcoin or several of its listed options. Decentralised Finance (DeFi) startup Flint, which is backed by investors like Sequoia Capital and Coinbase, has decided to discontinue its flagship yield offering service amid regulatory uncertainty, YourStory reported on January 27 citing an internal mail. "Today we are announcing the regrettable but necessary decision that Flint will be phasing out its services due to regulatory clarity around crypto deposit-taking companies like ours," the company said in the email to users, the report stated. The development comes after the DeFi startup had in November last year informed that it has "moved out" its funds from crypto exchange FTX, which recently became bankrupt. The saga that shook the crypto world last year began with FTX filing for US bankruptcy court protection from creditors and founder Sam Bankman-Fried resigning as chief executive … [Read more...] about Sequoia-backed DeFi app Flint discontinues flagship yield service: Report

Santosh Iyer, the newly-appointed MD and CEO of Mercedes-Benz India, sparked a debate in November when he said that systematic investment plans (SIPs) are the luxury car brand’s biggest competitor in the country. He has now clarified that his remarks were made in the context of luxury market growth. “The statement made was in the context of the luxury market growth, what will happen in three to five years’ time,” Iyer told Moneycontrol in an interview . In November, Iyer, who was then the sales and marketing head of Mercedes-Benz India, had told Times of India that SIPs in mutual funds were eating into luxury car sales in India. If a potential customer diverted Rs 50,000 into buying a luxury car instead of investing through SIPs, the luxury car business would “explode,” Iyer had said. “The context of the discussion is that there are a couple of factors to change,” he clarified in a January interview with Moneycontrol. These factors, he said, included the fact that the … [Read more...] about Mercedes-Benz India CEO clarifies why ‘SIPs are competition’. Here is what he said