Kalyan Jewellers initial public offering (IPO) To Open | Sidnaz Blog


Kalyan Jewellers IPO: Kalyan Jewellers will utilise the IPO proceeds for its capital requirements

Kalyan Jewellers India’s Rs 1,175 crore initial public offering (IPO) will open for bidding tomorrow i.e. March 16. The Warburg Pincus’ backed company’s IPO will remain open for three days, until March 18, and the shares will be available in the price band of Rs 86-87 per share. The jeweller plans to raise Rs 1,175 crore at the higher end of the price band.

The IPO comprises fresh issue of Rs 800 crore and an offer for sale (OFS) of Rs 375 crore. Investors can bid for a minimum of 172 shares and in multiples of 172 shares, up to 13 lots. A total of 35 per cent will be reserved for retail investors.

The company will utilise the IPO proceeds to fund its working capital requirements and for general corporate purposes.

Kalyan Jewellers was started by Kalyanaraman in Kerala in 1993. It’s listed peers includes Titan, Tribhovandas Bhimji Zaveri and PC Jeweller. Amitabh Bachchan and Katrina Kaif are the brand ambassadors of Kalyan Jewellers.

Citigroup Global Markets, Axis Capital, ICICI Securities, SBI Capital Markets and BOB Capital Markets are the book running lead managers to the issue of Kalyan Jewellers.



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7 Army Officers Among 23 Named By CBI In | Sidnaz Blog


The CBI said searches were conducted today at 30 places in 13 cities.

New delhi:

Five Lieutenant Colonels, a Major and a Lieutenant of the Indian Army were among 23 people named by the CBI in an investigation into corruption involving recruitment to the force on Monday following searches in 30 places in 13 cities.

The accused include 17 army personnel in all and six others with “allegations pertaining to bribery and irregularities in recruitment of officers and other ranks through Service Selection Board”, the CBI said.

The agency said the case was registered based on a complaint from the office of Additional Directorate General, Discipline & Vigilance, Adjutant General’s Branch, Integrated HQ of Ministry of Defence (Army).

The CBI received a complaint last month that serving personnel were involved in accepting bribes for helping candidates clear medical exams at the Base Hospital in New Delhi.

Lt Col MVSNA Bhagwan of the Army Air Defence Corps, the alleged mastermind of the recruitment racket, is among those named, they said.

The complaint said that Lt Col Bhagwan, currently on study leave, and Naib Subedar Kuldeep Singh also received kickbacks from potential officer candidates at SSB centres.

The agency said that Lt Col Surender Singh of 31 SSB centre North; Lt Col YS Chauhan of 6 Mountain Division Ordnance Unit; Lt Col Sukhdev Arora of Directorate General of Recruiting; Lt Col Vinay, GTO, Selection Centre South, Bangalore; and Major Bhavesh Kumar allegedly facilitated the selection of candidates through SSB.

It is alleged that bribes in several lakh rupees were paid to the officers and their relatives through cheques, cash, and online transfers for the selection of candidates, they said.

Searches were conducted today at 30 places including the Base Hospital at the Delhi Cantonment, other army establishments, civilian areas covering 13 cities, the CBI said.

The locations searched include those in Delhi, Lucknow, Jaipur, Guwahati, Kapurthala, Bathinda, Kaithal, Palwal, Bareilly, Gorakhpur, Vishakhapatnam, Jorhat and Chirangon.

The searches led to the recovery of several incriminating documents which are being studied, the agency said.



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How OPPO F19 Pro+ 5G Is Perfect for Power Users | Sidnaz Blog


Modern-day smartphone users have two major expectations from their smartphones. It should have a good camera to help them capture things that catch their fancy, and it should not run out of charge in the middle of the day. Far too often you end up picking one feature or the other, depending on what is more important to you. But what if you could get both?

Imagine a phone that ticks all the right boxes- an outstanding camera performance, a long-lasting battery, a hardware combination that is capable of running everything you throw at it and a bucketful of other cutting-edge features that promises to give you the most out of your smartphone.

Read on to learn more about the no-compromise solution that you can expect to find when you opt for the new OPPO F19 Pro+ 5G.

The new OPPO F19 Pro+ 5G comes with 4,310mAh battery that’s perfect for most smartphone users. The phone also supports OPPO’s 50W Flash Charge technology which can charge the phone super-fast. How fast you ask? With just five minutes of charging time, the OPPO F19 Pro+ 5G can offer 5 hours’ worth of talk time or 1.5 hours of Instagram usage. It can completely charge the phone in just 48 minutes!

That’s amazing considering how you’ll be able to quickly get back to actually using the phone instead of leaving it plugged in for hours. With the ability to quickly charge your phone, you can ensure you’re able to save time while getting work or learning done on the device. If you suffer from power cuts, this fast-charging technology can help save the day by quickly charging the battery in no time.

OPPO F19 Pro+ 5G also features an innovative Super Nighttime Standby mode that lets you sleep in peace while your smartphone consumes only up to 1.78 percent of battery life over a period of 8 hours. The mode keeps your phone in a low-power state with an always-on display which consumes very little battery life.

For one thing, it means you get to take full advantage of the AI Highlight Video technology that the OPPO F19 Pro+ 5G comes equipped with. Clear and crisp videos in all types of lighting condition are exactly how you should be capturing your video from now on.

The device’s HDR Video technology auto-adjusts extreme exposure to offer you the best videography experience irrespective of the location and lighting conditions, while the 20MP front shooter captures exceptionally detailed selfies and videos.

So what does all this mean for OPPO F19 Pro+ 5G users?
img2 Oppo

  • You can get more work done without a hiccup, thanks to the power-efficient battery in the OPPO F19 Pro+ 5G
  • Flaunt your nights, and party non-stop – and capture every moment of it perfectly! The quad-camera setup bundled with AI Highlight Portrait Video technology takes smartphone videography to a whole new level
  • Enjoy a captivating gaming experience with the device’s ‘’Game Focus Mode” which mutes frequent interruptions during the gameplay
  • OPPO F19 Pro+ 5G, as the name suggests, would come future-ready and will let you take advantage of the incredible internet speed as soon as the service comes to your city
  • Harness a lag-free experience with the smartphone’s System Performance Optimiser feature that ensures perfect synchronisation of hardware and software

These are just some of the amazing features in the new OPPO F19 Pro+ 5G. The smartphone is already available for pre-order and will be available for sale both online and offline from March 17. OPPO F19 Pro+ 5G comes with an interesting set of features and bundled offers. Here are the offers available with OPPO F19 Pro+ 5G at launch:

  • You can get the OPPO Enco W11 TWS earphones at a discounted price of Rs. 999 and the OPPO Band for as low as Rs. 2,499 when you buy the OPPO F19 Pro+ 5G in India
  • HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bank of Baroda, and Federal Bank users can avail of a flat cashback worth 7.5 percent
  • Paytm users can avail 11 percent instant cashback
  • For those looking to buy the OPPO F19 Pro+ 5G on EMIs, you can avail of a zero down-payment offer with Home Credit and HDB Financial Services
  • If you’re an existing OPPO customer, you can avail of a great bundled offer with free one-time screen replacement, and 70 percent assured buyback value. This offer can be claimed using OPPO’s WhatsApp chatbot

Offering a host of cutting-edge features, unparalleled hardware framework and disruptive camera performance, the OPPO F19 Pro+ 5G sets new performance benchmarks in the industry. Further sweetening the deal, OPPO is also offering numerous bundled offers, discounts and cashback with the F19Pro+ 5G, making it a not-to-miss option. Get your hands on this revolutionary offering and Flaunt Your Nights as soon as sale starts on 17 March 2021 on Amazon, and other mainline retailers. 

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Trade Deficit In Goods Widens To $12.62 Billion In | Sidnaz Blog


The trade deficit in goods widened to $12.62 billion in February from $10.16 billion during the same period a year earlier, revised data released by the government on Monday showed. Merchandise exports rose 0.67% in February from a year earlier to $27.93 billion, while imports were up 6.96% to $40.54 billion, the data showed



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This Laser Battle Has Sparked a Rebellion | Sidnaz Blog


Lumentum,

MKS Instruments


MKSI 0.99%

and

II-VI


IIVI -0.75%

have at least two things in common. All three companies really, really want to acquire Coherent and all of them have a sizable base of shareholders who don’t seem hot on the idea.

The three-way bidding war for

Coherent

picked up significantly last week. The maker of laser components used in OLED displays, semiconductor manufacturing and other applications started the week by declaring the latest bid from II-VI (pronounced two-six) superior to the others. That bid valued Coherent at around $252 a share with a much richer cash component than previous offers—including a freshly revised one from MKS. On Wednesday, Coherent announced a new deal with original suitor Lumentum, which boosted the cash portion of its own offer and offered a total value of around $262.

Lumentum’s latest offer for Coherent amounts to a cash commitment of about 2.5 times its last reported balance.



Photo:

Kris Tripplaar/Sipa USA/Reuters

II-VI then swooped in Friday with its third proposal, adding even more cash and valuing Coherent around $272 a share. Coherent proclaimed that bid as superior and gave Lumentum until the end of the day this Wednesday—St. Patrick’s Day—to come up with a bigger pot of gold.

Sweetening cash-stock offers with extra green is hardly uncommon in competitive bidding situations. But Lumentum and II-VI especially also had little choice, given what seems a revolt by their own shareholders against a bidding war that now values Coherent around 40 or 41 times forward earnings—the company’s highest multiple in more than a decade, according to FactSet. Lumentum’s stock price fell 19% between Jan. 19, when the first deal was announced, and March 10, when Coherent announced it accepted the company’s revised bid. II-VI’s stock slid 23% between the date of its first bid on Feb. 12 and its latest offer on Friday.

Those declines forced both companies to crack open their wallets. The cash portion of Lumentum’s bid went from $100 a share to $175 a share—a 75% jump that only boosted the total deal value by 16%. II-VI ratcheted its cash portion from $130 a share to $170 to its latest revision of $195. That amounts to about $4.76 billion in cash—nearly six times its last reported cash balance.

Lumentum’s latest offer amounts to a cash commitment of only about 2.5 times its last reported balance. But analyst

Christopher Rolland

of Susquehanna estimates that winning the deal would leave both Lumentum and II-VI with similar net debt-to-adjusted earnings before interest, taxes depreciation and amortization levels of around 3.9 times—a level he described as “likely approaching the cusp of their risk tolerance levels.” Many of their investors seem to have passed that already.

Write to Dan Gallagher at [email protected]

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



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2008 Batla House Encounter Convict Ariz Khan Sentenced | Sidnaz Blog


Batla House Encounter verdict: The court also fined Ariz Khan Rs 11 lakh.

New Delhi:

Indian Mujahideen terrorist Ariz Khan, convicted in the killing of a police officer in the 2008 Batla House encounter in Delhi, was sentenced to death on Monday. The encounter between the Delhi police and a bunch of terrorists holed up in the South Delhi neighbourhood had led to the death of Inspector Mohan Chand Sharma while two others sustained injuries.

A native of Azamgarh in Uttar Pradesh, Khan was arrested by the Delhi police’s Special Cell in February 2018 after fleeing the spot in 2008. He was convicted in the case last week. Khan is also the alleged mastermind of the 2008 serial blasts across Delhi, Rajasthan, Gujarat, and Uttar Pradesh.

The police sought the death penalty for Khan saying it was not just any killing but a murder of a law enforcement officer who was a defender of justice. Additional Public Prosecutor AT Ansari, appearing for the police, said the case attracts exemplary punishment, which is capital punishment.

Advocate MS Khan, appearing for Ariz Khan, opposed the death penalty and said the incident was not premeditated.

The court had said on March 8 that it was “duly proved that Ariz Khan and his associates caused the murder of police official and fired gunshot on the police official”.

Calling it one of the “rarest of the rare cases” that merit the death penalty, Additional Sessions Judge Sandeep Yadav on Monday also imposed a total fine of Rs 11 lakh against Khan. The court said Rs 10 lakh should be immediately released to the family members of Inspector Mohan Chand Sharma.

In 2013, one Shahzad Ahmed, who, too, had escaped the Batla House shootout with Khan, was convicted and sentenced. Two of their accomplices, Atif Amin and Mohammed Sajid, were killed in the incident. A third, Mohammed Saif, was arrested from the location.

The multiple bombings linked to Ariz Khan rocked cities like Jaipur and Ahmedabad, apart from the national capital itself, in 2008 and saw 165 people losing their lives and over 500 injured in all. A reward of Rs 15 lakh had been declared on him, besides an Interpol Red Corner Notice.

A BTech graduate from Muzaffaranagar’s SD College, Khan is an explosives expert. He was inculcated into the jihadi network by Atif Amin, who died in the Delhi shootout. After the 2008 blasts, he had shifted his base to Nepal and acquired a Nepal passport under the name Salim. He opened a restaurant there and also taught students.

During his Nepal days, he came in contact with Riyaz Bhatkal who then inspired him to relaunch Indian Mujahideen. In 2014, he visited Saudi Arabia, looking to strengthen the terror organisation, and interacted with many IM and Students Islamic Movement of India (SIMI) personnel.

In 2017, Khan returned from Saudi Arabia to lay the groundwork for IM’s revival. He was visiting India on February 13, 2018, when he was arrested at the Banbasa border point between India and Nepal. The police got a whiff of his plans through SIMI activist Abdul Suhan who had been arrested a month earlier.



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Poco X3 Pro to Launch in India on March 30, Teased | Sidnaz Blog


Poco X3 Pro will be launched in India on March 30, the company teases in a tweet on Monday. The Poco X3 Pro has been in the news for some time now and though the company has not shared any information on the pricing or specifications, there have been several leaks hinting at what to expected from the phone, and the latest teaser appears to promise a budget-friendly device. The Poco X3 Pro is said to be powered by the unannounced Snapdragon 860 SoC and have a high refresh rate display.

Poco X3 Pro India launch

Poco, through its @IndiaPOCO account shared on Twitter that a ‘Pro’ variant of a phone will be unveiled on March 30. While the tweet does not mention the name of the phone, it is believed to be the Poco X3 Pro. The tweet does not share any details on pricing or specifications but said it is “time to break the price-performance (P:P) benchmark.”

Recently, the company shared a cryptic tweet teasing the March 30 launch date for a new Poco phone. Now, it has confirmed the date, though the name of the smartphone has not been shared.

Poco X3 Pro price (expected)

The price and colour options of the Poco X3 Pro recently surfaced online suggesting the phone will be offered in a 6GB + 128GB and a 8GB + 256GB storage option. The base 6GB RAM variant is said to be priced at EUR 250 (roughly Rs. 21,600) while the 8GB RAM variant is said to be priced at EUR 300 (roughly Rs. 26,000). The phone may be offered in Black, Blue, and Bronze colour options.

Poco X3 Pro specifications (expected)

As per previous leaks, the Poco X3 Pro may feature a full-HD+ display with 120Hz refresh rate. The phone may be powered by the unannounced Qualcomm Snapdragon 860 SoC and pack a 5,200mAh battery. The Poco X3 Pro is said to support 4G LTE, dual-band Wi-Fi, and NFC and may not have 5G connectivity.


Poco M2 Pro: Did we really need a Redmi Note 9 Pro clone? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.





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Laxmi Organic Industries IPO Oversubscribed On First Day | Sidnaz Blog


Laxmi Organic Industries share sale via initial public offering (IPO) was oversubscribed on first day of the issue. Laxmi Organic Industries IPO was subscribed 1.8 times till $:10 pm on the opening day of the issue. Laxmi Organic Industries received over 5.84 crore bids for 3.25 crore shares on the offer, data from the National Stock Exchange showed. The issue received over 4.4 crore bids at the cut off price, according to NSE.

Retail investors were seen bidding for the IPO in large numbers as the portion reserved for them was subscribed 1.88 times.

Laxmi Organic Industries’ Rs 600 crore initial public offering (IPO) opened for bidding today and will close on March 17. The company has fixed the price band at Rs 129-130 per share and expects to raise Rs 600 crore at the higher end of the price band. The shares of the speciality chemical manufacturer are likely to be listed on the bourses on March 25.

Laxmi Organic Industries’ primary market offering comprises a fresh issue of Rs 300 crore and an offer for sale of Rs 300 crore by the promoter group, Yellowstone Trust. Bids can be placed for a minimum 115 equity shares and in multiples of 115 equity shares, extending up to 13 lots.

Ahead of the IPO, Laxmi Organic Industries raised Rs 200 crore through pre-IPO allotment to six entities.

Laxmi Organic Industries will use the net IPO proceeds to invest in a wholly-owned subsidiary, Yellowstone Fine Chemicals (YFCPL), to fund capital expenditure needs for expansion of its specialty intermediates manufacturing facility and for working capital requirements.

Laxmi Organic Industries is among the largest manufacturers of ethyl acetate in India. It has two manufacturing facilities in Mahad, Maharashtra and accounts for 30 per cent of the ethyl acetate market in the country.



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Caesars Entertainment, GenMark, Eli Lilly: What to Watch When the | Sidnaz Blog


Here’s what we’re watching ahead of Monday’s opening bell.

U.S. stock futures edged higher, suggesting that the major indexes will extend their rally after both the Dow Jones Industrial Average and the S&P 500 closed last week at a record.

Dow futures rose 0.4%, suggesting that blue-chip stocks in companies sensitive to the economic recovery will extend their gains. Contracts tied to the S&P 500 edged up 0.3%. Nasdaq-100 futures ticked 0.3% higher, pointing to muted gains for the technology sector. Read our full market wrap.

What’s Coming Up

Earnings are due from Accel Entertainment and Desktop Metal before the open.

Westport Fuel Systems


WPRT 2.20%

is scheduled to report after the close.

The New York Fed’s Empire State manufacturing survey for March, due at 8:30 a.m. ET, is expected to rise to 15 from 12.1 a month earlier.

Market Movers to Watch

Eli Lilly


LLY 1.40%

shares dropped 4.4% premarket. An experimental drug from the pharmaceutical firm modestly slowed the cognitive and functional decline of early-stage Alzheimer’s patients over 18 months in a small, midstage clinical study.

GenMark Diagnostics


GNMK 0.19%

shares jumped 29% ahead of the bell.

Roche Holding


RHHBY -1.56%

said Monday that it signed a definitive merger agreement with GenMark in a deal valued at approximately $1.8 billion on a fully diluted basis.

—Shares of

Caesars Entertainment


CZR -0.13%

climbed 6.3% premarket. S&P Indices said late Friday that the casino operator would be added to the S&P 500 effective March 22.

The. Caesars Palace hotel and casino in Las Vegas, Nevada, U.S., July 28, 2020.



Photo:

Roger Kisby/Bloomberg News

Tesla


TSLA -0.84%

shares edged down 0.4% premarket, as investors offered a frosty shoulder to Chief Executive

Elon Musk

‘s new official title, “Technoking of Tesla.” Finance Chief

Zach Kirkhorn

was given the title “Master of Coin”—though both men will also retain their traditional C-suite positions.

Market Fact

—A broad index of pharmaceutical stocks has underperformed the S&P 500 by 6 percentage points so far this year.

Chart of the Day

In the coming months, banks are expected to free up tens of billions of dollars in reserves they set aside to cover soured loans—losses that still haven’t materialized a year into the pandemic.

Must Reads Since You Went to Bed

Minority-Owned Investment Banks Are Underwriting More Corporate Bond Offerings

Electric-Vehicle Startups Promise Record-Setting Revenue Growth

Fintech Stripe Scores Blockbuster $95 Billion Valuation

Yellen Says Biden Administration Undecided on Wealth Tax

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



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Amit Shah Cancels Bengal Rally Citing Chopper Snag, | Sidnaz Blog


Amit Shah is on a two-day visit to Bengal, addressing back-to-back rallies.

Kolkata:

Campaigning in Bengal today, Home Minister Amit Shah canceled his first stop and delivered his speech virtually instead, blaming it on a technical snag in his helicopter. Mamata Banerjee’s Trinamool Congress claimed the “snag” was really a case of poor turnout.

“I was going to come here for campaigning. Unfortunately, my helicopter was damaged and I couldn’t come to see you,” Amit Shah said, addressing the rally in Jhargram via video from Kharagpur.

“My helicopter developed a snag but I won’t call it a conspiracy,” he added in an apparent dig at Chief Minister Mamata Banerjee, who alleged last week that her leg was crushed by the door of her SUV when a crowd pressed into it in Nandigram, and called it an “attack”.

Soon after, came the rebuttal. Addressing a rally in west Midnapur, Mamata Banerjee’s nephew Abhishek Banerjee said Jhargram was “easily” reachable by road. “Those who attend rallies in the afternoon in this heat, they don’t come to hear speeches. The home minister had a rally in Jhargram, he could not reach his meeting due to a technical snag. But the images I have seen from the rally where BJP national leaders are coming … local tea stalls in villages have more crowds than their rallies,” said the Trinamool MP, who has been targeted repeatedly by the BJP over nepotism.

The Trinamool Congress posted images of what it called thin crowds and empty chairs at the Jhargram rally site, which it said prompted the last-minute change of plans.

 The party also sent photos from Mamata Banerjee’s rally in Purulia with the caption: “Crowd that doesn’t suffer ‘Technical Snag’. Chief Minister Mamata Banerjee welcomed by a sea of crowd in Purulia’s Baghmundi.”

Amit Shah was to visit Jhargram, an important rural Bengal constituency, to launch a yatra to honour the role of Birsa Munda and other freedom fighters in the fight against British colonial rule. The BJP had spoken of a massive rally at Jhargram.

The Union Home Minister is on a two-day visit to Bengal, addressing back-to-back rallies as the BJP amps up its campaign for the election starting March 27.

The results will be announced on May 2.





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