It has been said that this manual is actually a dress code manual for employees, and it states that it is loud for Muslim women to wear hijab, It is loud for Sikh men to wear turban, But Hindu women should wear bindi. Or it is not loud for Hindu men to wear Kalawa and apply Tilak.

And because of this a huge controversy has arisen on the internet, Bar Bar Piyush Bansal who is the CEO, The lenses were cut and tacked on. And he tried to respond several times But with every response they keep falling into it. So ultimately the question arises that when this controversy is taking place then on what basis is this religious discrimination taking place? Is there any legal provision related to this in India or not? Can this be challenged as per the Constitution or as per any legal provision?

And why again and again these corporates keep getting entangled in the controversies of this sir? If we keep getting trapped in controversy, then today in this video let us know from where it started and how. When this situation turned into a huge controversy, the first tweet that came said in that tweet What was mentioned in that tweet was that Lange Card's dress code policy was reaffirmed as an authentic Polk internal document which got leaked on the internet and it was found out that many Things are allowed only to minority religions but majority Hindu religion

The people of the community who are employees there are not allowed any religious expression. Now see if you look at their manual strictly If we look a little deeper, the things allowed in the manual are the most important. The clear things that are allowed are hijab and the other things that are allowed. If you look at the things that are allowed inside the manual, the most clear thing that is allowed is hijab and the second thing that is allowed is turban, that is, they have told about it to the people of Sikh community, but in this also they have put some restrictions that it can have a black color turban, it can have a black color hijab because it is their brand logo or The brand matches with the color but which is strictly prohibited which is not allowed at all. First Bindi, second Kalava and third Tilak. Not only this, they have imposed restrictions on many other things, many many things, they have been clearly allowed, but they have been restricted a little bit, but they have been restricted, for example, sandur, very small amount, the whole head should not be filled with it, it can be mehendi, but there should be prior approval for this, and ten more. That mahandi should remain the maximum till the day, after that religious threads only one day after the puja.

You can wear them only one day after puja And you can't wear them the rest of the time So this somehow shows that there is a kind of discrimination. Where this is not allowed to people of majority community This is not allowed to people of Hindu community. But the people of Muslim community and the people of Sikh community Those who are minorities are allowed So why does this controversy start? Do these corporates do this deliberately Or these corporates ignore this and make them My name is Mangal Singh, I teach anthropology.

and this is my telegram channel, this is my instagram handle you can subscribe to these I teach anthropology, these are some of the toppers that I have mentored and guided with anthropology and other subjects also I am starting my batch, so join the batch using the code MSCLive to get best of the discounts which if toppers data mentor in guide with antropology and other questions also and starting batch so join the batch using the code to get best of the discounts to join this batch.

You can use this code and avail the best discounts. Now you have already heard it. It must be that there is a controversy going on in Nashik where people were being forcefully converted to Islam. Investigation is going on on this. NAA has also taken cognizance of this and it is being looked at from many angles and due to this, a very heated palace has been built inside Nashik and the whole country is discussing about why this is happening, so after all this lens cart controversy is the reason for this. What is the response to Lenskart on social media? Some people have said that this is the hypocrisy of Lenskart and through this it is not religious discrimination.

And he said that this lens actually shows a hypocrisy of the cart which is completely The Hindu minority strictly bans religious expression, but it Muslims or Sikhs were not allowed to have any religious expression, but they denied that the present guidelines may not be old or may be outdated, then they said that the policy is no restriction on any form of religious expression including bindi and tilak outdated.

Versions do not represent you, theirs is their outdated version, this is our version, they did not say that it is not ours, they denied this to Tripread, they only said that it does not reflect their point of view of today, so when they did this, then the readers gave a context on top of that. Added

it on X i.e. on Twitter He said that the league lens card guide is actively branded and dated February 2, 2026 That means it's only two months old And this actually internally dress code is still being used To implement this reader The controversy deepened due to the context that the Internet sets on your Twitter, then later he again gave a clarification and he told that there is no restriction here and finally he admitted that yes it contained an incorrect line. He said that okay, this is a policy of ours and then he said it contained an incorrect line about Bindi and Tilak as founder and CEO the responsibility for such lapses is mine. He said that it is my responsibility and Only regarding Bindi and Tilak, on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this on this, when I went to the employees of Lenskart and asked them about all their stores, they have not received any such order yet. The basis of which is whether you have to follow this policy or not, that is, this policy is still running somewhere and if you talk about today, they have not published any updated guidelines because they are afraid that maybe it will cause controversy, so now the biggest question that arises is that so much controversy has been created which has become a storm on social media, are there legal provisions on it. Now the biggest problem in the legal provisions is whether the constitution is based on religion. But the constitution prevents discrimination but the problem is that discrimination on the basis of religion is allowed only in public departments.

Or it stops the state run things only and does not intrude into the private sector regarding this. right so can this policy be challenged in the court short answer is barely it is very difficult that We can challenge this policy in the court of law because if you three or four see provisions see legal provisions see industrial provisions that if you see 3-4 provisions, see legal provisions, see industrial provisions, And if we look at the constitutional provisions, So whatever is within the constitutional provisions,

He applies only to the government and not to the to private employers, Whatever the government or government related things apply to them, If you see section 153B of IPC, Which is an outrageous and religious group, So in this, deliberate intent has to be proved again and again, That was the deliberate intention of this company, That he deliberately wanted to hurt the religious sentiment, he has to prove that there was a deliberate intention of the company that he deliberately wanted to hurt the religious sentiment, he will have to prove it and in the name of negligence or ignorance, perhaps they can settle with this thing and the Industrial Disputes Act is already a little old and there is an indirect remedy in it, but that too is a remedy against non-meritorious staff, that is, it is a constitutional fundamental right under Article 14. There are 15, 16 but where does all this apply on the public sector and not on the private sector and when does the private sector belong to the public sector and not on the private sector?

If it survives somewhere, then you see, some people say that why such a mistake happens, then these are the four manwars. There are four policies, each of four people, you must have heard that he is infamous for his work, and one of four, which There is a policy, in these policies it is said that these people copy and paste the user manuals of that country or the user manuals of western countries. It is said that these people copy and paste the user manuals of that country or the user manuals of western countries and they become the policy of this place.

Let's make it and start using the context of western countries if you See if you have copied these policies from UK or America. So generally which suits you or which gives you professional clothes which It is said in India that those clothes are actually European style clothes. That means suit, tie or you need shirt and pant or proper which These are professional dresses, these are actually western styled which their Also aligns with Christian ideas, But the majority community inside India is not Christian,

Which we have assumed is our professional dress, That is actually the professional dress of the Christian community, Which we have related to the majority, And there to accommodate the minority, And to accommodate diversity, These people keep some special provisions, For some communities, So it can either be that the majority of the things Provisions Provisions Provisions Provisions Provisions Provisions Provizion It is being lauved to express, so look at the copy given to them and after passing the copy to them, what they did directly was to tell Hindus this.

Gave that you have to wear professional dress and western style which the Muslim community refused to wear. Now what is the problem with this? On one hand, you have hurt the sentiments of the majority community and in the name of this inclusion, you have applied a kind of dual policy. You said you don't have professionalism If you expressed things Hindu style That Bindi you expressed that you Did you apply bigger vermillion or did you wear tilak? or did you wear kalava So this is against professionalism

But this in the name of diversity and inclusion That means you have used dual policy. which is actually not acceptable in any case, right So the problem is that even if it was deliberate, it is still problematic. Or you did a lazy copy-paste, you just went and copy-pasted the western style policy, And even though you have made this policy, there is still a slightly problematic thing.

And because of this, a lot of problems can occur. Now see what is there in other countries? The legal jurisprudence in other countries has evolved a lot. If you look at the US and the UK, the legal jurisprudence there is very limited in many respects. If you look at the US and the UK, there are a number of laws that govern the private sector on the basis that they do not discriminate. So for example, the title within the US is the Civil Rights Act Ninety Six Four and within that it applies to private employers. and it mandates religious accommodation and reasonable accommodation.

In the year 2020, BOAT had become the fifth largest wearable brand in the world. It had beaten all the Indian brands and was in the leagues of Apple, Xiaomi and Samsung. Then, between FY20 and FY23, BOAT's revenue increased from Rs 700 crore to Rs 3400 crore. And that's a 5x growth in just 3 years. BOT's smartwatches and their earphones were everywhere.

And Aman Gupta was one of the most celebrated entrepreneurs in India and his company was getting ready for a blockbuster IPO. But then things started to change. BOT's revenue started to fall. It started losing to other players in the segment.

In fact, things got so bad that both its co-founders Aman and Sameer quit their positions and moved to known executive roles. So what exactly went wrong with BOAT? And what does the future look like for the company? Welcome to our weekly Indian startup news show. I'm Pankaj, your host, and you're watching Backstage with Millionaires. So, let me take you back to where this story really starts, which is not 2014 when BOAT was founded, but in 2020, when Bat really took off.

See, when the pandemic hit, Boat was already an established and growing brand, but COVID helped them accelerate at an unprecedented pace. The screen time for people grew multifold. Also, almost everyone was working from home. And because of that, people needed headphones. In fact, demand for audio products grew 20% in the early months of pandemic alone and Bode, which had spent years building the most recognizable and affordable audio brand in India, benefited from it the most.

But that wasn't the only wave Bode caught in 2020. As people started tracking their health obsessively during the pandemic, smartwatches suddenly became a mass market product. And Bode saw this as an opportunity and launched their own smartwatch line in October 2020.

And this wearable segment of theirs, which did not exist until 2020, went on to bring 900 crore rupees in revenue within the next two years, which was nearly a quarter of everything the company made. And thanks to these two waves and Aman Gupta being on Shark Tank, Bote had crossed 3376 crore in revenue in FY23. But then things started to change. The two waves that Boat was riding suddenly started to disappear.

And let's first talk about their smartwatch business. See, once the hype of smartwatches started to fade after the pandemic, people started evaluating their smartwatches more critically. And what they found was that these entry-level smartwatches, the kind that BOTE made, which were typically priced below Rs 2,500, did not really have the most accurate health tracking.

Basically, the consumer expectations from these products had gone up, but these products failed to keep up with the consumer. And as a result of this, the smartwatch market started shrinking in India. In FI24 alone, it collapsed by 34% and Bote was the most impacted company. Bote's smartwatch segment that brought in 901 crore rupees in revenue in FI24 had gone down to just 330 crore rupees in FI25, a 63% decline in just one year.

But the thing to understand here is that consumers were not necessarily ditching smartwatches entirely, they were just ditching the low-quality ones. And I'm saying that because the market for premium smartwatches had essentially doubled during this time. The kind of smartwatches which are priced over 20,000 rupees. A segment where players like Apple and Samsung exist.

So, smartwatches was the first bad news for Bode. Next came its audio business. The segment that had essentially made BOAT also started declining. And I think this is a more deeper and existential problem for BOAT. See, when BOAT had built their reputation, they had a genuine edge. They were selling affordable products with cool designs.

But that edge is now gone. It worked for BOAT when they were the only player. But today, they have a tough competition from a bunch of new age Indian brands like BOAT Audio and Noise, along with international brands like Realme, Nothing and OnePlus. Basically, this category is being commoditized right now.

And when a category commoditizes, the brand that's perceived as affordable is usually the one that gets hurt most. And the culmination of all this happened when the two people who built Bolt, Sameer Mehta and Aman Gupta, decided to quit and transition to a non- executive role. And now the company has brought in a new CEO. In fact, Boat has changed three CEOs in the last three years. And that's not good for a brand that's already losing its market.

So is this the end for Boat? Or do they have a plan? Well, sort of. According to the DRHP, Boat now wants to focus on the premium segment, products above 5000 rupee range. And the company now wants to focus on building better technology instead products above 5000 rupee range.

And the company now wants to focus on building better technology, instead of just playing on the price. And that is the right direction. The premium audio market is where the growth is. But the problem with this segment is that it is owned by Apple, Sony, Samsung, and JBL. And competing with these brands won't be easy. All of them have spent decades building credibility for premium audio.

And BOAT has never competed at that level. And now repositioning a brand that builds its reputation on affordable and trendy to suddenly play in premium is one of the hardest things to do in consumer electronics. And before I wrap it up, let's quickly talk about their IPO. See, when they were at their peak.

And at that time, they were planning on raising 2000 crore rupees. But the company decided to postpone it because of bad market condition. Then they again filed for an IPO in 2025. This time with the plans of raising 1500 crore rupees. But again, these plans were postponed. And we don't know when the company will finally go public.

Also, there are some concerns with their DRHP as well. Boats own auditors have flagged that Boats quarterly returns filed with the banks did not match the company's internal books. And that too for three consecutive years. And that raises a lot of concerns. See, trying to go public with three years of bank versus book mismatches is not the best story to tell to the public market investors.

And that at a time when your revenue is also falling. So right now, Boat might have a plan, but they don't seem to have the right people to execute that plan let me know what you guys think do you think both will be able to make that transition or will it just suffer the same fate as someone like lava or micromax all right next up urban company has just announced that their quick housekeeping vertical insta health has crossed 1 million monthly bookings in march and that's a big number especially considering the fact that they had launched this business vertical

just one year back. And now the company is calling it their fastest scaling business unit in their history. And since they announced these numbers, their share price has climbed over 10%. Now, if you look at the service, it's pretty straightforward. They have on-demand cleaning, dishwashing, laundry, and meal prep, all fulfilled in 10 to 15 minutes from booking.

And the service right now is only live in cities like Mumbai, Bengaluru, Delhi NCR, Hyderabad, and Pune. But here is where it gets interesting. This space is starting to look a lot like what happened with QuickCommerce a few years back, where you had new players coming up every day. Also, investors putting in millions of dollars to help these companies scale fast, and the media still questioning if this is even a profitable model.

Now, coming to this house help market, Urban Company's Instahelp currently leads this market with 49% market share, while Snabbit is next with 36% market and Pronto is at number 3 with 14% market share. But the thing to note here is that startups like Urban Company are burning money right now to acquire this market. In quarter 3 of FI26, Arvan company registered an EBITDA loss of 61 crore rupees. And same is with Snabbit and Pronto.

So the growth and all is good. But the real question is still the same as it was in the quick commerce. Will anyone be able to make this profitable at scale? Alright, moving on to some quick news updates. B2B manufacturing platform Zetwork has confidentially filed for their IPO papers and they are looking to raise around Rs 4,200 crore or almost $450 million.

The company was founded in 2018 and they basically help connect businesses with contract manufacturers across sectors like electronics, aerospace and industrials. The company posted operating revenue of Rs 12,798 crore in FY25 with a net loss of Rs 371 crores. Talking about IPOs, furniture and electronic appliance rental platform Rentomojo has filed for DRHP with SEBI to raise Rs 150 crore in their IPO.

But one of the co-founders, Ajay Nain, has filed a petition with NCLT claiming that he was misled into selling his 9.41% stake to an employee benefit trust back in 2023. And now, Ajay wants to void that share sale, restore his shareholding, and stop the company from its planned IPO. Alright, next up, Mirza International's MD Tauseef Mirza has acquired a 100% stake in D2C casual footwear startup called Solthreads.

And this company is already clocking a monthly run rate of 6 crore rupees and this deal will help mirza international to expand into india's youth focus semi-premium footwear market all right now let's move into the funding news segment for today's video this week indian startups raised a total of 47 million dollars which is significantly lower than last week's 268 million and now let's take a look at some of the startups that have raised funds this week. The first one I want to talk about is Batchat, which is a simple app that helps you

save small amounts of money every day automatically instead of big monthly investments. Basically, what they do is they take tiny amounts like 50 to 100 rupees via UPI and invest them in mutual funds. So even people with irregular income can build savings easily and they've raised 12 million dollars in their series A round.

Following that, we have Mumbai-based Amaha, which is an online mental health platform where you can talk to therapists, get medical help, and use self-care tools all in one place. And they've raised 50 crore rupees or $5.35 million. After that, we have the D2C nutrition brand Beast Life that sells things like protein powder and supplements. And they've raised 20 crore rupees or $2.

 million in their pre-series a round next we have cyber security startup called sign3 which is an ai powered fraud prevention platform and they help banks fintechs and online businesses to spot and stop scammers by analyzing device data and user behavior like typing patterns or mouse movements and they've raised 1.

 million dollars and finally we have epic an online e-commerce platform that lets you try gadgets at home before you buy them what they do is they basically send someone to your house with the product so you can test it in real life and decide whether you wanna buy it it's basically an online shopping with a real world trial experience and they've raised one million dollars in their pre-seed All right, that's all the startup news I have for you this week. Thank you so much for watching and I'll see you in the next one.

How to bring IPO on your public high demand. For a long time now I have been seeing in my readers sir how to bring IPO, how to bring IPO, how to bring IPO. So today I have brought for you a detailed content in which IPO is what it is, how it is brought, what is the process, what is the eligibility, should it be brought, should it not be brought.

Now where to get the money? The first option is to bring your own money, brother, I have brought it and invested it, but there is a limit to how much you have invested. Then second, if you don't have your own money, invest the loan money, then let's take the loan, loan money also came and invested, but how much has been invested, there is a limit, then second, if you don't have your own money, then come on.

If you invest the loan money, then come on, you have taken the loan, you have invested the loan money too, but there is a limit too. And there is a small risk in the loan money, isn't it, brother, as long as the company is running Profit is coming, we are having fun, there is no problem, we will pay the interest also, we will also pay the bills, but tomorrow if brother or the company goes into minus or goes into loss and if the system Even if there is no profit, you will have to pay interest on the loan, you will still have to repay the loan.

It is necessary to repay, that is, the loan money is a risk money, yet this is the third option. Option where the risk is less then the third option comes equity. Those who say that brothers of equity, if you do one thing then it is mine. Take shares in the company and this share can also be done in two ways. The first way is private, in your own home.

Friend brother brother uncle call him or call any high net worth individual a person with money or wherever VC firms come, Avenger Capitalist, PE, Private Equity, these big firms come, where VC firms come, venture capitalist, PE, private equity, these big firms come. Told the firm, brother, do one thing, take 20% share in my company and in return assume the ownership of my company.

You have calculated the valuation, it is Rs 100 crore, take 20% of it, give me Rs 20 crore, now use this Rs 20 crore. Look, what is the benefit, if your company runs ahead, it will be profitable, then in every coming profit, that guy will have to give 20% of the valuation of every company. I have given the lion's share of the deal, so neither you have to give the money back nor you ever have to pay interest on that money, so if you look at it, it is a kind of free money. Yes, we have sold our company in return, so if in future we earn a hundred crores, we will have to give 20 crores also, brother, we will have to give in profit, we will keep giving it in the future.

The question comes, Raul ji, what is IPO? IPO is the same thing that if you sold the equity of your company to some limited people, you sold it to the people. So this is private placement That's okay, I took it from this lady, I took it from that lady, I took it from this lady, I took it from that lady.

But when you say the same share or not I do not give to any private group or private person. I also want to share with the general public. it is called IPO I hope it is clear, now a question comes, Raul ji, why not go to IPO, why not go private? That is why one should not go private, although many people go, all the start-ups are private, less go to IPO, but what is the problem in this, there is such a person who will keep monitoring every single thing in your business, that brother, tell me in every third, which decision are you taking? Well, by asking this, tell me why you are doing this, everything in the business. But he will keep monitoring that brother, tell me every third time, what decision are you taking?

Well, ask this question and tell why he did this, he did that, for accountability, he is the 20% owner. Brother, a person has come on the board who looks at every decision and asks questions on every decision. People say, I don't want such a hassle, so I have to sell those 20% shares, but if instead of these 20% shares being sold to a few two people, if I give them to two hundred thousand people, then I have issued 20% shares in the market. Now, instead of someone buying two shares or four shares, everyone has bought four shares. All are owners, but they are not raising my questions every day. They are not checking everything, that's why I come with an IPO. Let's talk sir, am I eligible to bring IPO? These IPOs are brought by big people. Now we are hearing that you are talking about LIC. Am I eligible to come in this protocol? These are IPOs only big people bring.

Right now we are hearing that Nika brought IPO, Policy Bazaar came and these are very big brands. Don't we bring the wisdom of small people, please see, big people bring big IPO, small people bring small You can bring it, you can definitely bring it, so if I talk, you will have to be listed on any exchange to get iFuel.

India's best exchange NSC, DSC both of these Go to any of these and get listed Sir is there any eligibility criteria for this See different eligibility of different boards There are criteria but if I If I give an example of an NSC then the criteria of NSC What is important is that even if you have to come up with an IPO, you must have a minimum seed up capital of Rs 10 crore.

There should be shares worth Rs 10 crore whose money has come in and shares worth Rs 25 crore which you mean. When the share is listed and after listing its valuation should be above Rs 25 crore. Sir, now many people say that 10 crores will become 25 crores but many people say that 10 and 25 are not even there, now let's go.

Sir don't worry BSE has one main board IPO. Where BSE works in Excel BSE has created a SME Board Where even SMEs can bring IPO There his requirement is that your paid up capital It should be above 3 crores And it cannot go above 25 crores, it means that your seed up capital should be above 3 crores and should not go above 25 crores.

This means that even if your market cap is between Rs 3 crore to Rs 25 crore, you can easily bring in Yes, for this, Sir, Eligibility Criteria said, Sir, if your net worth is Rs 3 crore or more, then you can If you are eligible, then what is your net worth? Total assets minus total liabilities. If it is more than Rs. 3 crores, then what is your net worth? If it is more than Rs. 3 crores, then what is your net worth? Total assets minus total liabilities.

If it is above Rs 3 crore then you are eligible and can launch IPO within three years. In the last three years, in any two years, if there is profit, then how much profit is not being asked, it is two crores. Crore Pajaas Crore Should be in plus in two years out of the last three years If in plus in two years out of the last three years If market cap is Rs three crore You can bring an IPO of minimum Rs 3 crore to Rs 25 crore as per your choice, now many people will have hope.

Yes, this thing is fusible, maybe it is not fusible, but if you work hard today, then in two years or three years Later, we are also ready to bring IPO, we will also raise two to four crore rupees from the market, we will raise it interest free, we will not have to return the money and there is no tension.

And I got a good arrangement with this loan and some capital, now Rousey said, the process should be done quickly. Tell me, if you want to know the process then see the simple steps of the process. Have you decided to make an IPO? If you want to bring it, the first step is that you have to find a merchant banker. Sir, tell me the bank. You have to find a merchant banker. You have to tell them, sir, a bank. What is a merchant banker, sir.

Merchant? Bankers are those who have specialization and they help you in collecting money from the market. They help in bringing IPO. Where to find Merchant Bank Sir, all the big banks are there. We have opened our own separate merchant banking office like IC, IC, Merchant Bank, SBIB, Merchant Bank and then BO. In between, if you do merchant banking of any bank, you can do it through a separate branch or a separate delegate.

They will go and say what they do, first of all they will check your eligibility and they will also say, bring the ballot. Bring the project report, let us see what kind of company it is, let us see that yes, this company seems good to me, the track record of three years is also fine, the balance thing is also fine and let us check that your Tell us about your business model, how you earn money, how many branches you have, how many customers.

What kind of thing is this when the bank is confident that this company is good, it has good business model, good customers, good product, good margin, good business model, good customers, good product, good margin, good future and the promoter has also increased, there is no problem, then they say, okay, we have accepted, now we become your merchant maker, now you leave everything for now, we can do all the further actions, if we can raise money for this, then that is fine. Accepts and now comes to the second step which

It is called Due Diligence and Filing Subscribe in which all your important things are checked. Now what will he do, he will underwrite it and yes, what is underwriting, the meaning of all underwriting. It happens that the bank says such and such, then it will cost them five crore rupees. There is an appo worth five crores coming and I am helping them in bringing their five crore rupees in the market.

Api will go and I hope that in exchange of five crores the world will come and invest five crores in Inkal. If people did not invest money in its app, if only Rs 4 crores are received then I will give the remaining Rs 1 crore as my responsibility. This is called underwriting. Your merchant manger says, your payment of five crores is not my responsibility, if I get three aya, I will put two in my pocket.

If no one comes, I will pocket five rupees, hence merchant manager is very important and because He takes a guarantee, so he checks it in advance and puts it in his hand to take in the beautiful Aspni which has a guarantee that it will come. Otherwise I came to know that people did not come but I had to zip it, so first of all Wonder Writing Ingrement.

If he does so, then you can rest assured that money is coming to your IP because he has written it, now what does he do? If you are filing then you must have heard about DRP and HP for filing. This is called draft. Red Yearning Prospectors or Red Yearning Prospectors is a document which is submitted in SEBI or everywhere else to tell the public, look what is the IPO we are bringing, so before today I have reviewed all the IPOs like I had reviewed LIC IPO, I had reviewed NICA.

I had reviewed the policy bizar and the support of you people and the help of God has meant that till now I have completed five Have reviewed the IPO and 500 predictions were correct. Where do I get the data for the predictions? I come from this RJP, this is the RJP file and it is also open, see the promoter's name in it.

The details are: Who is the promoter, where and when, what is his education, how many shares are there, the complete details of the company are also there, whether the company cover register was registered, what is the work, how does it work, how many branches are there, how many employees are there, how much is the turnover, what is the profit, what is the risk in it, what is the opportunity in it, write down all the things and give it, it is a balance thing, our plan for the next five years is that we are going to do this with this money by taking the money.

You have to tell everything, tell him that wherever the filing is to be done, all the things have to be filed in SEBI, file in SEBI. It will be junior, like in SME IPO, SEBI is not required, so it will be filed in the stock exchange wherever. There is a requirement that a company act will be filed in the Rosi by going there and a copy of that document will be collected everywhere.

The first step comes, pricing is agreed, how much will my share cost sir, that too, the merchant banker will work. You have to be rest assured, check your old balance sheet in merchant and write down the possibilities of future balance. He follows a mechanism to calculate the valuation of the company. He has calculated the valuation of the company. If the valuation of your company was Rs 50 crores, then it was an IPO of Rs 10 crores. Then how much has this IPO been worth? Rs 10 crores.

What is the market cap of rupees? 50 crores 40 crores. Who has it? Friends, we have yours. There was no value of the share, there was no value, now it will be worth Rs 40 crore while sitting. If you son, the share had no value, there was no value, now son, the value of your share has become Rs 40 crore, so this is your first advantage, now it is an IPO of Rs 20 crore, now they said brother, at how much rupees should I bring it, then they also calculate the rupees, they come up with a fix that okay, a fixed price IPO. It comes to mind that brother, look, you have to launch an IPO of Rs 10 crores and if you are issuing so many shares in total, then you fix it at around Rs 200 or what do you sometimes do without fixing it at Rs 200?

He said, we will bring it between Rs 180 and Rs 210. So people apply that ratio fix between 180 to 210 as per their wish. Then IPO can open at Rs 180 but will not open less than that and will not open higher than that. A rate is reached, now it comes to the question that brother, this 10 crore rupees epic is Who will invest money in it, but we think that people like you and me invest, no sir, there are three types of categories.

There is one called QIB Qualified Institutional Banks, what they do is they call such fixed banks which are big Mutual funds like Reliance Mutual Fund, ICI Mutual Fund, SBI Mutual, BI Mutual Fund, these are big funds, who are saying that okay, do one thing out of 10 crores in this IPO, let us take 5 crores, one is QIB, one is Non-Institutional Investor, like a big person, he will directly invest Rs 1 crore, directly Rs 2 crore, he is not an institution, he is a person, but that big man. Yes, don't do small retail at one go, subscribe and third, this is called retail investor or someone like you or me.

Anyone who wants to spend 25-50 lives can spend ten pieces. If it is divided into these three categories, then government. There is a requirement that why this IAB is yours, it is necessary to take a special part in your IPO. That the government says that IPO worth Rs 10 crore will happen tomorrow. What have you done that you invested all the retail investor's money and yesterday the IPO sank, then the retail investor What to do if someone abuses you, then say to those who are big elephants, you also invest some money.

So that the entire burden is on retail and if tomorrow there is some rise and fall, then half of the low and low you also share the same. Now let's see whether you are also okay, everything has been divided, we said in ten crores. Even if you buy Rs 5 crore, the big funders will give you Rs 1.5 crore, the retail ones will take only Rs 3 crore.

Investors are now being promoted, it will be given TV spots, people will be met and meetings will be held. A party will be organized, people will be educated, see how good our company is, please invest money in it, after that the process of listing will open, brother, it is okay from 10th to The window has opened between 12th, you people can apply, these people apply and deposit the money.

So now there may be two or three conditions in this. The first condition was, did you say agree, I had five lakh shares. There were things worth two hundred rupees and ten crore rupees.

Out of five lakhs, the application came only for three and a half lakhs, so the application of one and a half lakhs, tension means he Your merchant merchant had told you that I am ready to take it, sir, it was for 5 lakhs and 5 lakhs has arrived. End the matter, distribute it to everyone, what happens if the application was worth Rs 5 lakh, 15 lakh people adopted it and Brother, it has been subscribed three times more, then according to the quota, it is given to whomever it is as per the quota.

According to the calculation, the amount given to the person who applied is given accordingly, if someone applied three times then he gets it. Given one, these things increase accordingly like it is said that when my IPO is not opened, his IPO is opened, this happens when things and subscribe It happens that if you are not subscribed then the more you pay, the more you will get. After getting subscribed, everyone will get it.

After the allotment, now this share has reached the market on BS thing, on NAC and in the pocket of your investor. You have shares and money in your pocket, now it is your responsibility to make good use of this money for the company. Take it further so that the share that he bought today for Rs 200 will be worth 400, 600, 800 tomorrow. The share that he bought today for two rupees, tomorrow its value will be 400, 400, 800.

This is what they want, they will not share in your profits. They will not share in your revenue. They will have no say in your decision making. But they just want that this money should also be utilized properly today. So that my 200 becomes 800, Yes, if you have profit in between, you can distribute dividend from it.

And whether to share or not is in your hands, Do you think, friend, last time you had earned 2 crore rupees, let's distribute 1 crore rupees to the shareholders or do you think no or I will not distribute 2 crore rupees for further growth in the business, you can do that too, so I hope you have understood what is the process of bringing IPO. If you have any question related to this, ask in the support mail or technical team will reply in meantime.

There's competitors now ramping up and as you're familiar with BYD which is also on the west coast I think they're ramping up production of their electric vehicles. Warren Buffett owns 10% stake in that. Why do you laugh? Trying to compete why do you laugh? Have you seen that car? You know BYD was once a joke, a complete laughing stock in the industry.

This plain looking sedan is actually one of them. It's from Chinese automaker BYD. Bad looking car, it further looks like a Corolla or maybe a Kia Optima. Vehicles that are ready, that are up to snuff in terms of quality, fit and finish, design, that remains to be seen yet. You don't see them at all as a competitor? No.

I don't think they have a great product. In fact, if you look closely, while Tesla had Elon Musk, the visionary, charismatic billionaire founder, BYD was led by a humble man, a former government employee with no degree in automobile and no background in technology or design. In fact, he had never built a tech product in his life.

And look at this, in 2021, while Tesla sold 930,000 cars, making $53 billion in revenue, BYD barely sold 590,000 cars, making only $32.75 billion. So $32 billion is a lot, but it was nothing as compared to Tesla and the reputation of Tesla. But you know what's crazy? Warren Buffett saw something different in BYD.

He believed that BYD could make better cars than Tesla. BYD is a young and promising company experiencing dynamic growth. A leader in innovation and technology. Our joint strength is based on high-tech cooperation and BYD has a bright future. And as always, the wise old man was right. Because in 2024, while Tesla made $97 billion, BYD stood tall at $108 billion and BYD told the world loud and clear that there's a new gangster in town.

It likes to describe itself as the biggest car brand you've never heard of. you've never heard of. Now China's BYD has overtaken Tesla as the world's largest seller of electric vehicles. Now it's beating Tesla with EVs only. Let us help you build your dreams. BYD. And this is a classic David versus Goliath story.

BYD And this is a classic David vs Goliath story. So the question is, how did a government researcher outsmart the world's most celebrated innovator? How did a company that was once mocked become the new king of EVs in the world? What secret formula transformed BYD into Tesla's worst nightmare? And most importantly, what are the business lessons that we need to learn from the iconic rise of BYD? This context is brought to you by the magical Odoo manufacturing app.

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This helps you manage who's doing what, keeps the work hierarchy clear and allows you to run multiple assembly lines smoothly. By leveraging work centers and automated assembly lines, Odoo enables you to optimize and manage manufacturing orders effortlessly. This improves accuracy, productivity, and overall workflow efficiency.

Odoo also has barcode integration, which helps you speed up operations, track products easily, and manage everything in real-time. The planning and scheduling feature helps you organize work orders, track materials, and plan production efficiently. All of this happens through Gantt view. This view shows you all the assembly timelines and operation dependencies.

Plus, the bills of materials overview provides a clear picture of cost, time and component availability even before production begins. Odo manufacturing also provides in-depth reporting such as production analysis, production efficiency, work orders etc.

And the best part is they provide lifetime free access for your first Odoo application. So if you're running a manufacturing business and you're serious about scaling with precision, efficiency and clarity, check out Odoo manufacturing app using the link in the description. This is a story that dates back to 1995. At that time, the global battery market was a game only meant for kings to play.

If you wanted to enter the market, enter this business, you at least needed $1.7 million. And the industry was ruled by giants, Japanese powerhouses like Sony and Sanyu. Now, most people would have said, Arrey bhai, this is a game for rich people. How can we middle class folks enter this game? Let's do something small and safe and be happy and earn bread for the family.

But you know what Wang did? Wang made an observation. He noticed that the battery market was shifting very very drastically from nickel-cadmium batteries to lithium-ion batteries. And this shift was happening for three major reasons. Firstly, lithium-ion batteries could store more energy. So while a lithium-ion battery could store up to 260 Wh per kg, while nickel-cadmium batteries are limited to around 50 Wh per kg.

This means for every kilogram of battery mass, a lithium-ion battery stores at least five times more energy. That is why devices like smartphone started to use lithium-ion batteries so that they could be lightweight and yet super powerful. Secondly, nickel-cadmium batteries lose capacity over time if you recharge them before they are fully emptied.

But lithium ion batteries, they could be charged anytime with no damage at all. And thirdly, cadmium, which is found in the nickel cadmium batteries, it is a toxic heavy metal which pollutes soil, water and harms workers. Whereas if you look at lithium ion, it is cleaner and far safer for the planet.

Now you tell me guys, if you were to pour all the money that you have, where would you invest your money? Obviously in lithium-ion, right? After all, it was clearly the future. But you know what Wang did? He did the complete opposite. He invested all his money into building a nickel-cadmium factory. So the question is, why would he do that? Well, that was because while Sony and Samio moved to lithium ion batteries, large companies like IBM still needed nickel cadmium batteries. So Wang saw a hidden opportunity.

He thought that he could actually serve clients that the large companies were ignoring. So he took a big loan from his cousin and invested all that money into building a factory to make nickel-cadmium batteries. But here's the twist. While Japanese factories used cutting-edge tech, Wang actually went the complete opposite way.

He said bro, Japanese have technology but China has cheap labor. In fact, if you look at the stat in 1995, labor cost in Japan, the monthly minimum wage was about $189.28. While in China, it was only $24.38. So instead of expensive machines, Wang built simple systems that used workers' hands, but it was actually made by people with machines and not robots.

And this ultra-frugal method became BYD's first superpower. And amongst all the frugal engineering strategies that Wang applied, I found one story that will blow your mind. In fact, it changed the destiny of BYD. You see, to make nickel cadmium batteries, you needed absolutely dust proof rooms because cadmium is a highly toxic and reactive heavy metal.

So even a tiny particle of dust, moisture or oil can contaminate the electrodes, it could cause poor performance and it could even defect the material. In fact, in some cases, it could even cause the battery to catch fire. In fact, workers must also wear full body suits with masks, gloves and hair covers so that even tiny skin flakes or breath moisture doesn't contact the battery.

So to protect both the product and the workers, the manufacturing usually happened in super clean dust proof rooms, also called clean rooms. On top of that, while normal air has around 35 million dust particles per cubic meter, a nickel-cadmium battery clean room might just allow 3520 particles per cubic meter.

That's over 99.99% cleaner air than usual. But you know what Wang did? He asked himself, Baba, if you don't want your legs to get dirty while walking, will you lay a carpet all around the world or simply choose to wear shoes? Obviously wear shoes, right? Then he thought, why do we keep the entire factory clean when only the battery cell needs a clean environment? So instead of building a huge clean room around the workers, he built a small transparent clean box.

And here's where workers could put their hands inside and make the battery. So each worker had a sealed glove box like a mini clean room. And workers could insert their hands through the gloves assemble the battery parts and keep it within the enclosed box itself. This way, they could keep the dust out of the battery completely.

At the same time, they did need clean rooms. In fact, the air inside was filtered and pressurized as per the clean room requirements. This is the reason why they could have a general room where the battery was being manufactured. And this gave Wang three incredible superpowers. Firstly, only the actual battery cell assembly zone needed protection, not the whole building.

This saved them millions of dollars. So only the box was manufactured in a small clean room, but the manufacturing facility didn't need any high-tech cleaning. Secondly, the cost of making the battery due to this box and several other strategies helped him reduce cost by 70-80%. That's about 5-6 times lesser than the competition.

And lastly, if Sony needed to scale their production, they needed to build another clean room with hundreds of crores in investment. But if BYD wanted to scale, they just needed to add more boxes and workers. That's it. In fact, Wang even decided to skip over high-tech machines and build simple machines like the glove box because the Chinese labor was cheaper than the machine.

Like I said, in 1995, the monthly minimum wage was about $189.28 while in China, it was only $24.38 This is how through ultra low cost production easily scalable model and a huge cost benefit in the market BYD started scaling This is how BYD won giant clients like Nokia and Motorola and by 2002 BYD had a 31% market share That is how they made their money Now if you were a government employee turned entrepreneur who's making millions of dollars selling batteries, you would be happy, right? Well, Wang wasn't.

While most people saw this business as a rock solid million dollar company, Wang realized that he actually built a castle of sand that won't sustain long. Because he knew that he was making nickel cadmium batteries and the world was soon going to move to lithium-ion batteries. So you know what Wang did? He said, we will build a car.

And they did build a car. But the problem was that it was a terrible car. And you know what, guys? They built these kinds of cars for 10 long years. And during the same time, Tesla rolled out great products, revolutionized the entire American EV market and came to China and became a billion dollar company.

But BYD? Well, they were a joke for the press. Some journalists joked about how the front of the BYD car looked like a Toyota Corolla and the back looked like a Chevrolet Optra. Others were filming the doors of the cars not shutting correctly. So long story short, BYD had no edge in technology, no edge in design and they had nothing special.

Their low-end models got old and their newer models failed to take off. Even their early electric buses in the US faced reports of poor performance, mechanical problems and terrible driving ranges. And just when things couldn't get any worse, the pandemic hit in 2020. Now when the pandemic hit, supply chains halted, people stopped buying cars and BYD had over 224,000 employees that they couldn't afford to pay if sales didn't come.

And look at this, Ford, Tata Motors, Jaguar Land Rover, Nissan, all of them were in losses. But I was surprised to know that BYD in 2020 still made $643 million in profits. The question is, how the hell is that even possible? Well, you know what guys, I read something on cockroach entrepreneurs. It says that when everyone else is running for cover, the cockroach entrepreneur finds a crack and keeps moving.

That's exactly what Wang did. He became a cockroach. During COVID, when cars couldn't be sold, Wang saw that they could easily manufacture masks and sell hand disinfectants. So he quickly repurposed their factories and became the world's largest mask producer of face masks. Not cars, but face masks. On January 31st, Wang Qianfu, President and Chairman of BYD, decided that the company must begin making masks within two weeks.

These masks have been shipped to hospitals, law enforcement agencies, local governments and many more. That is how they made 643 million dollars in profits even in 2020. This is how Wang survived the COVID wave while the world was making fun of BYD. But this still begs the question, how did they beat Tesla? Tesla was miles ahead of BYD, right? Well, as it turns out, Wang understood that to succeed in the EV market, he just needed to master three things.

Cost, R&D and design. For example, Tesla had dramatically cut its cost per vehicle. Look at this. In 2017, it cost about $84,000 to build a Tesla. But in 2022, data showed that Tesla's input cost averaged just $36,000 per vehicle. That was about $10,000 less than the other average EV vehicles. And lastly, Wang realized that BYD cars needed to look better than Tesla and they could no longer be a cheap copy of American cars.

So after pouring all the profits from the battery unit into research and development, in 2020 BYD shocked Tesla with something called Blade Battery. For those who don't know, in 2020, Tesla Model 3 used NMC batteries or Nickel Manganese Cobalt batteries. And if you remember, these batteries had a big, big problem.

Tesla is investigating this fiery explosion in Shanghai. It appears to show a Model S bursting into flames in a parking lot. The fire spread to the home and burned it down. Fire spread to the home and burned it down. As you saw, if the cars with NMC batteries were severely damaged or exposed to extreme heat, they could catch fire or even explode.

In fact, normal lithium-ion batteries burst into flames at over 500 degrees Celsius. But BYD's Blade battery uses lithium-ion phosphate chemistry and it passed a brutal test called the Nail Penetration Test. As you can see, engineers literally drove a nail through the battery until it penetrates completely causing a short circuit inside.

And the other batteries caught fire at over 500 degrees Celsius. But surprisingly, BYD Blade gave out no smoke and no fire. In fact, it would barely touch temperatures of 30 to 60 degrees Celsius. Do you realize what that means? While a passenger in normal EV cars would burn to death in case of high impact accidents, with blade battery, the car wouldn't catch fire at all.

In fact, BYD batteries became so good that in 2024, Tesla started to buy batteries from BYD. Tesla has admitted that BYD batteries are superior and will use them to power Tesla vehicles. The Chinese company is about to start supplying Tesla with its own battery cells. BYD's unit, Fendream, secured over 20% of orders in March and supplies will begin in the first quarter of next year.

Secondly, BYD did an excellent job with cost-cutting. Look at this. While BYD SEAL cost $15,270 in China, Tesla Model 3, the counterpart of BYD SEAL, cost $36,278.99 in China. And even in the US, while BYD SEAL cost $46,990 with trade tariffs, Tesla without tariffs still cost $36,990. $36,990. Secondly, while Tesla's prices start from $36,270 per vehicle in China, BYD starts at $7,800 in China.

So the question we hear is how did BYD achieve this? Well, firstly, since BYD was a Chinese company made in China, sold in China and had local battery production unit, BYD enjoyed an approximate $2,000 to $4,000 subsidy per car. Secondly, BYD enjoyed an approximate $2000-$4000 subsidy per car. Secondly, BYD achieved full vertical integration where they do everything from mining to manufacturing to design to battery manufacturing to even recycling in-house.

This saved them another 15% in cost as compared to Tesla Model 3 and 30% lower than the western companies. Thirdly, if you think about pure electric vehicles, you will see that people are usually concerned about two things, price and range. But you know what BYD did? BYD, instead of making EVs, they made PHEVs.

For those who don't know, BEV means a fully electric vehicle that needs a battery to run. And PHEV is a hybrid vehicle where if your EV charging runs out, you can use your gas engine until the next charge. And by the way, PHEV stands for Plug-in Hybrid Electric Vehicle. And this is where the magic happened.

You see, manufacturing a hybrid vehicle over a fully EV car had three major advantages. Firstly, the battery is usually the biggest cost driver and costs about 40% of the total cost of manufacturing. But in PHEV cars, you needed a smaller battery. So they cost around 20 to 30% less. Secondly, BYD could eliminate range anxiety in the Chinese because with hybrid, you can give people the cost advantage of an EV but the dependability advantage of an IC engine car.

So in tier 2, tier 3 China, where people don't find charging station, they were fine using a hybrid BYD car, but they couldn't use a Tesla. Thirdly, if you look at the Chinese population, China has four major categories. China one has 23 million people who make more than $18,000 per portion per year. China two has 242 million people who make between $7,300 to $18,000 per portion per year china 2 has 242 million people who make between 7 300 to 18 000 dollars per portion per year china 3 has 493 million people who make 3650 dollars to 7 300

per portion per year and china 4 the poorest population of 645 million people make around 3650 dollars or less per year now while tesla could only sell to 23 million people make around $3650 or less per year. Now while Tesla could only sell to 23 million people in China 1 and barely sell its Model 3 base model to China 2, BYD could sell its cars to China 1, China 2 and it could also sell its base models to China 3.

BYD could practically sell to 758 million Chinese people and in tier 2, tier 3 cities with no charging infrastructure. Whereas Tesla, they could barely sell to 265 million Chinese people. Which is why if you look at this chart, out of the top 6 selling BEVs and PHEVs, 5 of them are BYD and just one is Tesla.

And more importantly, the sale of the top 2 PHEVs is more than the sale of the top 3 EVs combined. This is how Wang sold for cost and accessibility using R&D and product portfolio. And if you look at BYD designs today, they look like this. This is how, by first building a cash corp for himself, then by investing that cash into R&D while the world laughed at him, then by consistently working on the attributes that he was mocked for and most importantly, by solving for the Chinese people better than his American counterparts, Wang ended up building one of the greatest companies in Chinese history.

And he literally went from being a laughing stock to a multi-bagger stock in the last 20 years. This is the crazy story of PYD and it has three very very important business lessons for all of us. Lesson number one, before you start chasing glory, always build a cash cow. Before dreaming of cars and global fame, Wang first mastered the unglamorous business of batteries.

That's where he got the money to build a castle of glory because no glory comes without cash flow. Lesson number two, innovation isn't always about sophistication. Sometimes it's just about simplification. And the smartest solution is often the cheapest one that just works. And the clean box that just works.

And the clean box that Wang built is a classic depiction of this lesson. And lastly, always remember when people throw bricks at you, you've got two choices. You can either run and blame the world for being unfair or you can pick up every single brick, dust it off and start building your castle. That's exactly how Wang built his company called Build Your Dreams.

And for more such insightful business and political case studies stay tuned to Bindaas Bol Dil Se.