Zomato's Zooming Valuations
Food delivery platform Zomato has filed its Draft Red Herring Prospectus (DRHP) with SEBI. With this, it is all set to launch one of the most anticipated IPOs in recent times.
Zomato is looking to raise up to Rs 8,250 crore through this IPO. There will be a fresh issue of Rs 7,500 crore, and an offer for sale of Rs 750 crore for existing investor Info Edge.
Zomato's valuations have soared in the last 3 years. In February 2021, the company was valued at $5.4 billion, up from $1bn from back in Feb 2018.
Though the details are yet not out, the listing is expected to be on the expensive side. As valuations have zoomed over 440% in the last three years, the IPO is likely to be a risky bet for retail investors. There might be nothing left on the table for them.
Steel Rally Intact. But, For How Long?
Sustaining steel demand despite the price hike has brought the good time back for steelmakers across the globe. As world economies continue to recover, steel demand is expected to remain robust in FY21 and for a good part of FY22 as well.
Global steel demand is expected to increase by 5.8% YoY in FY21, and by 6.1% over its FY19 levels. With the rising need for steel, demand for iron ore is also rising, boosting its prices along the way. Steel is made primarily from iron ore as a raw material.
Steel prices have managed to hold up despite the high demand so far. Yet, decreasing steel consumption from China could be a major threat to this rally.
Any cutback in Chinese consumption could result in higher steel inventory at the global level. And it could result in a major cut back in prices if the excess supply finds its way into global markets.
LinkedIn's Super 25
LinkedIn, a professional networking site, has compiled a list of the top 25 best places to work in India to grow your career.
The list includes top names from the fields of IT, finance, infrastructure, utilities, and e-commerce. Among them, major names include TCS, Infosys, Wipro, HDFC Bank, ICICI Bank, Axis Bank, RIL, Amazon, Flipkart, HAL, BEL, and Aditya Birla Group.
Digitization and programming are the major skill areas required by these companies. Software development, knowledge of programming languages like C++, Java, and SQL skills are offering major job opportunities in the IT sector.
Banks and financial institutions are looking for personnel well adequate with sales management, retail banking, MIS, and financial analysis-related roles.