Analysis, guides and explainers on India's unlisted market — from IPO pipelines to ESOP liquidity.
The Catholic Syrian Bank is planning to come up with an IPO soon. The IPO size would be approx 550 Cr. It would be a mix of Fresh Shares and OFS. Before the IPO, the CSB is giving shareholders an opportunity to offer their shares in the upcoming IPO. If you do not participate in the OFS then your shares will get locked-in for one year. If you participate in the OFS then you will get a chance to exit at IPO Price. <span style="font-size: 14pt;"><strong>OFS Offer</strong></span> <img src="https://unlistedzone.com/storage/knowledge-logo/OFS-offer-2.png" /> <strong><span style="font-size: 14pt;">How to Apply in OFS?</span></strong> <img src="https://unlistedzone.com/storage/knowledge-logo/how-to-apply-2.png" /> For any query regarding CSB OFS please drop a comment in the box and our team will help you out in this. <span style="text-decoration: underline; font-size: 14pt;"><strong><a style="text-decoration: underline;" href="https://unlistedzone.com/storage/knowledge-logo/CSB_OFS.pdf">Complete detail of OFS can be downloaded from here:</a></strong></span>
Unlisted small finance banks (SFBs) Fincare Small Finance Bank and Suryoday Small Finance Bank have started work on going public, even as their listed peers struggle with listing norms. So far, three SFBs have listed on the stock markets—Equitas Financial Holdings Ltd, Ujjivan Financial Services Ltd and AU Small Finance Bank Ltd. Of these, Equitas and Ujjivan are holding companies for their respective small finance banks. In October, the Reserve Bank of India (RBI) asked Equitas and Ujjivan to list their SFB units to comply with its norms, which mandated that a small finance bank must be listed within three years of the launch of operations. Further, it said, the promoter shareholding should be brought down to 40% within five years of launch. For Equitas and Ujjivan, it meant listing their SFBs by September 2019 and January 2020, respectively. In September 2015, RBI issued 10 SFB licences. <a href="https://www.livemint.com/industry/banking/small-finance-banks-eye-listing-even-as-peers-face-challenges-1559496426278.html"><span style="text-decoration: underline;"><span style="font-size: 14pt;"><span style="color: #ff6600; text-decoration: underline;">For more detail Click here:</span></span></span></a>
1. The Company has shown 7.7% Revenue growth, YoY. <!--more--> 2. The EBITDA Margins stands at 18.36% up by 300 basis points. 3. The Company has shown a 43% PAT growth, YoY. <img src="https://unlistedzone.com/storage/knowledge-logo/TATA-Tech111-2.png" /> So overall the company has shown good results.
As part of International Solar Alliance (ISA)’s initiative to find out suitable models to be incorporated to achieve its ambitions plan of massive deployment of solar energy, a delegation consisting of 40 ambassadors/high commissioners are visited Cochin International airport on 22nd May 2019. CIAL expressed its readiness to <strong><u>provide consultancy service</u></strong> to airports of the member countries. Meanwhile, ISA Director General Upendra Tripadi revealed to the press that it would convene an international summit for the managing directors of the airports of member’s countries to decipher possibilities of repeating the CIAL model in the global level. Cochin International airport, <strong><u>the worlds’ first airport fully operated on solar energy has been identified by ISA as one of the models and the proposed visit will give a fillip to CIAL’s effort in taking its project to next level so that it can contribute globally as a consultant.</u></strong> The high profile delegation reached CIAL at 10 am on Wednesday and hold a discussion with CIAL authorities. CIAL managing director said that the company is all set to provide consultancy service to the member countries. “ <strong><em>We are glad to know that other countries are keenly interested in our solar model. We have no qualms in sharing with them the technical know-how of establishing solar power plants at their airports</em></strong> “: said Kurian. ISA director general Upendra Tripati said that the organization is overwhelmed by the success of CIAL model. The delegation comprises of the ambassadors/high commissioners of 25 African countries including Egypt, Senegal, Nigeria and Tanzania and also from countries like France, Brazil, Chile, Malaysia, Bolivia, and Sri Lanka. ISA is an alliance of 74 countries initiated by India and France formed in 2015 sharing the ambition to undertake joint efforts required to reduce the cost of finance and the cost of technology, mobilize more than US$1000 billion of investments needed by 2030 for massive deployment of solar energy.
<strong>1</strong>. The company has shown a robust growth of 44.45% in terms of <strong>Revenue</strong> in FY18-19 as compared to last year. <strong>2</strong>. The company has shown a robust growth of 120 % in terms of<strong> PAT</strong> in FY18-19 as compared to last year.<!--more--> <strong>3</strong>. The <strong>Operation</strong> <strong>Margins</strong> have gone up to 6% in FY18-19 as compared to 3.05% last year. Excellent figures. <strong>4</strong>. The <strong>Debt</strong> has gone down from 30 Cr last year to 11 Cr this year. So the Balance sheet is getting strong. <strong>5</strong>. The <strong>Net-Worth</strong> has gone up to 92 Cr in FY18-19 from 58 Cr last year. <strong>6</strong>. <strong>Current ratio</strong> this year has improved to 1.26 as compared to 1.05 last year. So the Balance sheet is getting strong. <strong>7</strong>. The Company has shown a consolidated <strong>EPS</strong> of 39 in FY18-19 as compared to 18 last year. <img class="alignnone wp-image-950" src="https://unlistedzone.com/storage/knowledge-logo/WhatsApp-Image-2019-05-27-at-16.47.46-1-300x69.jpeg" alt="" width="470" height="108" /> So overall we can conclude that the company has given a strong set of numbers. The Alcoholic segment has given stellar 46% growth which is a good sign. Post results, the Valuation in terms of <strong>P/E</strong> multiple of <strong>14x</strong> looks quite reasonable, as compared to listed player <strong>United Spirits</strong> and <strong>United Breweries</strong> which are trading at P/E multiple of 55x and 63x respectively. Though strict comparison can't be made as both these companies are having Mcap of around 39000 Cr whereas Mohan Meakin has Mcap less than 500 cr. Plus the Mohan Meakin Sales is more around <strong>Old Monk</strong> while United Spirits is having wide portfolios of Whiskies, Rums, and Vodkas. The United Breweries has captured the Indian beer market with Kingfisher Brand having 50% market share.
Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation, and amortization) of ₹4,229 crore during its Corporate Insolvency Resolution period (over 600 days).In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, the resolution professional said the company earned ₹4,000 crore from its operations between August 2017 and February 2019. In addition, the RP also mentioned an earning of ₹229 crore for March this year. Moreover, this amount "excludes ₹734 crore EBITDA utilized for Finance Costs (Financial Lease, LC/BG Charges to banks and finance charges on payables to suppliers etc) for maintaining the Corporate Debtor (Essar Steel) as a going concern," the affidavit said. The affidavit was filed following the directions of the appellate tribunal, which, on 7 May 2019, directed the RP of Essar Steel to submit the details of earnings from operations of the company during the corporate insolvency period. The affidavit, however, said the "figures from 1 April 2019 till date are not available".Insolvency resolution proceedings of Essar Steel had commenced on 2 August 2017 after the application under Section 7 of the Insolvency and Bankruptcy Code, 2016, was admitted by the NCLT's Ahmedabad Bench. <span style="text-decoration: underline; color: #ff6600;"><span style="font-size: 14pt;"><a style="color: #ff6600; text-decoration: underline;" href="https://www.livemint.com/companies/news/essar-steel-reports-rs-4-229-cr-ebitda-during-insolvency-period-1558248737038.html">Click here to read more:</a> </span></span> <span style="font-size: 14pt;"><span style="color: #ff6600;">Source: </span><span style="color: #ff6600;"><span style="color: #000000;">Livemint</span></span></span>
<span style="font-size: 12pt;">The Indian Commodity Exchange (ICEX) is all set to launch a black pepper contract on May 20. The exchange is eyeing 25 per cent-50 percent of the Rs 3,000-crore physical market to use the price hedging on its platform in the first year. </span> <span style="font-size: 12pt;">Talking to ET, Sanjit Prasad, CEO, ICEX said “Historically black pepper contract is one of the oldest contracts to have been launched in the commodity derivative market. Unfortunately, it has witnessed a chequered history. ICEX, after doing an in-depth study of the physical market, has consciously decided to re-launch contract based on litre weight- 550 GL rather than location-specific characteristics-MG1.” </span> <div> <a href="//economictimes.indiatimes.com/articleshow/69366992.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst"><span style="text-decoration: underline;">Click here to Read More:</span></a></div> <span style="font-size: 14pt;">Source: Economic Times</span>
Sterlite Power Wednesday said it has delivered first power transmission project in Brazil 28 months ahead of schedule. “Sterlite Power celebrates the kickoff of operations in the Arcoverde project. This is the first of 10 projects assigned to the company in Brazil,” a company statement said. According to the statement, the company began construction work on the Arcoverde project in May 2018. The project boasts 400 MVA in power, covers 139 km of transmission lines, 281 towers and a new substation (Arcoverde II), besides expanding two other substations in the region. <span style="text-decoration: underline;"><span style="text-decoration: underline;"><span style="font-size: 14pt;"><a style="text-decoration: underline;" href="https://theprimetime.in/sterlite-commissions-first-power-project-in-brazil-ahead-of-schedule/">Click here to read more:</a></span> </span></span><span style="font-size: 14pt;"> Source: The Prime</span>
The Securities and Exchange Board of India (Sebi) committee on the overhaul of regulations for offshore investors is set to recommend that foreign portfolio investors (FPIs) be allowed to buy shares of unlisted companies. The committee, headed by former RBI deputy governor HR Khan, is expected to include this suggestion in its final report, said two people with knowledge of the matter. Such a measure would be a boost for startups and other unlisted entities as they will get access to to a broader pool of capital. Currently, overseas funders of startups have to come in through the foreign direct investment (FDI) route and hence can only be strategic investors in such companies. <div><span style="font-size: 14pt;"> </span><span style="text-decoration: underline; font-size: 14pt;"><a style="text-decoration: underline;" href="//economictimes.indiatimes.com/articleshow/69193757.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst">Click here to Read more: </a></span></div> <div><span style="font-size: 14pt;">Source<span style="font-size: 12pt;">: <span style="font-size: 14pt;">Economics Times</span></span></span></div> <div></div>
Two Indian exchanges -- Anil Dhirubhai Ambani Group-promoted Indian Commodity Exchange (ICEX) and Metropolitan Stock Exchange (MSE) – are in initial talks for a merger, sources told <em>Moneycontrol</em>. MSE does not have much of a product list. It has only one active currency product and was struggling to raise capital to comply with the market regulator’s net worth criteria for an exchange and clearing corporation. However, it raised around Rs 200 crore in 2017 to fund its current operations, thus meeting the regulatory criteria. Read more at: <a href="https://www.moneycontrol.com/news/business/exclusive-anil-ambanis-icex-metropolitan-stock-exchange-initiate-merger-talks-3966981.html">https://www.moneycontrol.com/news/business/exclusive-anil-ambanis-icex-metropolitan-stock-exchange-initiate-merger-talks-3966981.html</a>
When Facebook CEO Mark Zuckerberg announced on April 24 that the company is actively working on to launch WhatsApp Pay in India, the message was clear to the digital payments leader in the country: Brace for the landfall. The country's digital payments industry -- estimated to hit $1 trillion by 2023 -- is going to witness a seismic change this year with global players joining the bandwagon, creating flutters among the existing players, including Alibaba-backed Paytm which rules the market. Read more at: <a href="https://economictimes.indiatimes.com/articleshow/69183215.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst">//economictimes.indiatimes.com/articleshow/69183215.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst</a>
<div> Russian-backed Indian refiner Nayara Energy has completed a long-term pre-payment deal with BP and global commodities trader Trafigura for $750 million, Nayara's chief executive said on Wednesday. The deal, backed by a consortium of international banks, will see the two firms repaid with future gasoline and gasoil over the next four years. Pre-payments are one the financing mechanisms frequently used in the oil industry. The total is half the amount originally targeted but is key for asserting the firm's independence after being previously owned by the debt-laden Essar Group which was wholly dependent on local lenders. "Nayara Energy is continually looking for innovative opportunities to develop a robust financing framework to strengthen its balance sheet," CEO B. Anand said in a statement. Trafigura and BP closed two similar deals over shorter periods worth $1.45 billion last year. Nayara, formerly Essar OilNSE -0.04 %, was taken over by a consortium led by Russian oil major Rosneft in 2017. Rosneft owns 49.13 percent of Nayara, while Russian fund UCP and Geneva-based Trafigura together own a similar share. The consortium acquired a 400,000 barrel-per-day refinery in Vadinar as well as a port, power plant and 3,500 fuel stations for nearly $13 billion. Earlier this year, the refiner said it would invest $850 million to build a new refinery and petrochemical plant. Read more at: <a href="https://economictimes.indiatimes.com/articleshow/69129471.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst">//economictimes.indiatimes.com/articleshow/69129471.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst</a> </div>
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