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<p>Anil Agarwal led Vedanta Group is mulling to float the initial public offering of its power arm Sterlite Power Transmission by the end of 2021. The company has sent a postal ballot notice to its shareholders stating that it will consider and if thought it, to pass, with or without modifications the IPO plans as a special resolution. The company is aiming to raise up to Rs 2,000 crore via is primary offering. This will increase the company's marketcap nearing to Rs 10,000-12,000 crore from Rs 4,500-4,800 crore currently. Thus the company has immense upside potential from current levels.</p> <!--more--> <p>Power Grid has a marketcap of Rs 1.3 lakh crore and Adani transmission's market cap has shrinked to Rs 1.05 lakh crore after 40 per cent fall in last one month. Considering these levels, it is a long term value buy. The company's promoters will not dilute 40-50% equity in the upcoming IPO. <br /><br />Thus are likely to issue bonus shares to the shareholders to increase the valuation of the company. The company will dilute close to 20% stake in the IPO. Thus, there is a decent valuation gap currently. The IPO of Sterlite Power is expected in 2021 itself. The company is likely to debut on bourses by the end of the year. It is among the most demanded shares in the unlisted market. Sterlite Power is in the business of manufacturing the power products, power transmission and solution to the problems of intersection of time space and capital. Sterlite Power is the second most prominent power transmission company of India after Power Grid. It is much ahead than Adani Transmission and Essel Group in terms of market share. <br /><br />The company has a robust order book in India and Brazil. Also the swift and strong execution highlights the efficiency and strength of the management, which adds to the attraction of the company. The company has a strong execution line in Jammu & Kashmir extending from Jammu to Srinagar. The company completed the project in less than two years, almost half the time given to execute it. Similarly, the company has bagged an order book worth $2-$3 billion from a dozen states of Brazil, ensuring the revenue visibility until 2025. In India, the company brags a pan nation presence. <br /><br />Sterlite Power has a market share of about 31.5 per cent in terms of tariff. Power Grid has a market share of 36 per cent, whereas Adani Transmission has less than 18 per cent share, a report by Institute of Energy Economics and Financial Analysis (IEEFA), released in February 2020 said. According to the company's website, it has 68 high voltage lines and 26,100 MVA of transformation capacity. Currently, it has a $5.83 billion order book for more than two dozen power transmission projects. The best of company is yet to come as the transmission infrastructure of India would be capitalised by telecommunication companies for nationwide 5G rollout. Also, electric vehicles are the future. <br /><br />The demand for power consumption and transmission is likely to move northwards in the coming year. The demand for power is likely to surge on the back of rapid industrialisation, if the government is aiming to make India a global manufacturing hub. On the other hand, the company is superbly managing its finance, to ensure a strong and sound balance sheet for the investors. The company is serving its debt and the focus is on reduction of leverage. Asset monetisation via Invits at a hefty margin is also a big booster for the company. <br /><br />As the other major power transmission players are moving towards green and renewable energy, Sterlite Power will also increase the focus on the same and repeat the benefits from the same. In the financial year 2020-21 the company turned profitable. The company managed a standalone revenue of Rs 2,933.85 crore in FY 2020-21 and a profit of Rs 362.92 crore. The consolidated profits stood at Rs 869.77 crore during the fiscal. The company has approximately 13,500 circuit kms of transmission lines. The company had announced an interim dividend of Rs 5.30 per share, with the face value of Rs 2 apiece.</p>
<div class="tatsu-column-pad-wrap"> <div class="tatsu-column-pad"> <div class="tatsu-module tatsu-inline-text clearfix tatsu-Hy7E7etkeF "> <div class="tatsu-inline-text-inner "> <p><strong>Umesh Paliwal, co-founder at UnlistedZone,</strong> said the company has a huge order book in India and Brazil. The company’s record of efficient and swift order execution adds to its attraction.</p> </div> </div> <div class="tatsu-animated-link tatsu-animated-link-style4 tatsu-ByE4XgYJxF tatsu-module tatsu-animated-link-align-none "><a class="tatsu-animated-link-inner " href="https://economictimes.indiatimes.com/markets/ipos/fpos/vedanta-proposes-ipo-for-sterlite-power-grey-market-super-excited/articleshow/84135684.cms" target="_blank" rel="noopener" aria-label="Read Full Article Here"><span class="tatsu-animated-link-text">Read Full Article Here</span></a></div> </div> </div> <div class="tatsu-column-bg-image-wrap"> </div>
<strong>Brief About Shriram Life Insurance</strong> Shriram Group entered the insurance business to serve people in bottom of the pyramid and provide better value and wider range of services to its customers. Sanlam, a leading financial services group and one of the largest insurers in South Africa has partnered Shriram Group in both its Life and NonLife Insurance ventures. The effective leveraging of the network and brand equity of Shriram Group and strategic guidance by Sanlam Group have facilitated a steady growth of the insurance companies.<!--more--> <strong>Business Performance of Shriram Life Insurance in FY2021</strong> <strong>(i)</strong> The domestic life insurance industry registered 7% growth for new business premium in financial year 2020-21, largely driven by growth in Individual & Group Single premium policy. While private insurers saw their growth at 16 %, Life Insurance Corporation of India (LIC) registered growth at 3 % in last financial year. <strong>(ii)</strong> Shriram Life Insurance's Individual New Business saw a growth of around 15% as compared to 14% growth for private industry and 10% growth for LIC. <strong>(iii)</strong> In FY21, the total premium income of the company was Rs. 2019 Crores as compared to Rs. 1729 Crores in the previous year. <strong>(iv)</strong> Shriram Life Insurance has the Solvency Ratio of 190%, against the requirement of 150%. <strong>(v)</strong> This year Shriram Life Insurance has declared a dividend of Rs.1.67 per share. <strong>(vi)</strong> As on 31.03.2021, Shriram Life Insurance has a branch network of 455, and has active advisor force and POSPs of 3784 and 90 respectively. <strong>Shareholding Pattern as on 31.03.2021</strong> <img class="alignnone wp-image-17598" src="https://unlistedzone.com/storage/knowledge-logo/Shareholding-scaled.jpg" alt="" width="457" height="229" /> <strong>Increase in Share Capital in FY2021</strong> The share capital has increased by 6,61,748 no. of equity shares. These are ESOPs issued by company at ~24 per share. Share Capital as on 31.03.2021 = 17.63897 Crores. <strong>Financial Performance in FY2021</strong> <strong>(i)</strong> Premium income has increased from 1723 Crores to 2013 Crores in FY21. Jump of 17%. <strong>(ii) </strong>Other Income has increased from 322 Crores to 520 Crores in FY21. <strong>(iii)</strong> Commission expense has increased 112 Crores to 122 Crores in FY21. <strong>(iv)</strong> PAT of 106 Crores in FY21 which was just 35 Crores in FY20. <strong>Valuation of Shriram Life Insurance</strong> In unlisted market, it is trading at Rs. 325 per share. Mcap = 5729 Crores. GWP = 2013 Crores <strong>Peer Comparison</strong> <table width="285"> <tbody> <tr> <td width="81">Company</td> <td width="64">GWP</td> <td width="64">Mcap</td> <td width="76">Mcap/GWP</td> </tr> <tr> <td>HDFC Life</td> <td>38,583</td> <td>1,38,688</td> <td>3.59</td> </tr> <tr> <td>SBI Life</td> <td>45,000</td> <td>1,00,705</td> <td>2.24</td> </tr> <tr> <td>Shriram Life</td> <td>2000</td> <td>5720</td> <td>2.86</td> </tr> </tbody> </table> The valuation of Shriram Life looks stretched.
M/s Lava International Limited is conducting an Extra-Ordinary General Meeting on Monday, 28th June 2021 at 10:30 A.M. through video conferencing. The following points will be discussed in the meeting;<!--more--> 1. <strong>Changes in the article of association</strong>. 2. <strong>Increase in Authorized Capital-</strong> a) <strong>Old Authorized Share Capital</strong> = 153 Crores Equity Shares of (FV 10) = 14.79 Crores Preference Shares (FY=10) = 1 lac Preference Shares (FV=100) = 5 lac b) <strong>New Authorized Share Capital</strong> = 396.1 Crores Equity Shares of (FV 10) = 39.1 Crores Preference Shares (FY=10) = 1 lac Preference Shares (FV=100) = 5 lac So, we can conclude that company is planning to issue new shares . The first step in this direction has been done by increasing the share capital. 3. <strong>Issue of 66,23,517 equity shares at Face value of 10 to the Clipper Global S.A. on preferential private placement basis.</strong>
Home grown alco-beverage major B9 Beverages is eyeing another fund raising activity. According to a report from Moneycontrol, the owner of leading craft beer brand Bira 91 is looking to mop up $100 million of capital. Just five month back, the company had raised $30 million from Japan's beverages firm Kiring Holdings in January 2021. The company was valued between $230-$240 million for this deal.<!--more--> Delhi based B9 Beverages is backed by private equity firm Sequoia Capital. The company is looking to raise around $100 million for growth capital, expansion plans and marketing spends by selling a minority stake. The company has appointed investment bank Lincoln International to crack the deal, according to the media report. The offer of minority stake sale has been floated, preliminary meetings have kicked off and Bira 91 is looking to tap private equity funds for the same. However, UnlistedZone could not verify the media reports in personal capacity. Gateway Brewing Company, Independence Brewing Company, White Owl and Mohan Meakin are some of the domestic rivals of Bira 91. According to reports, Kirin would hold less than 10% after the transaction in January. Sequoia is believed to be holding about 45% stake in the company, while founder Ankur Jain owns around 30%, these reports added. In April 2020, the company had raised a funding of $30 million from Sequoia India and Belgian investor firm Sofina. Mumbai based Venture Capital Fund, Sixth Sense Ventures, Korean private equity fund Neoplux, and other few family offices. The alcohol and Beverage theme is a key component of 'revenge spending' as the unlock rolls out across the globe. Once the restrictions are lifted, the toursim and entertainment sector are likely to gain more. <strong>UnlistedZone View</strong> Once a reckoning force in the beer industry, it has struggled a bit in the last one year due to covid-19 led pandemic. Its main business was coming from selling Bira Beers in the Pubs, Bars and Restaurants. And, in the last 1 year, this is the most affected sector of the economy. Malls, Bars, Restaurants, etc had remained closed for long duration of time. The government too has not done much for this sector. So, to beat the competition and maintain its leading position, Bira Beer needs money. That is reason, in the last 1 year they have collectively raised ~400 Crores from the investors and now looking further to raise ~750 Crores.
The pandemic was a boon for a broking industry. However, Anand Rathi Wealth Services have shown poor results. The management has cited the following reason; <em><strong>"Our revenues were adversely affected due to the sharp volatility and fall in markets due to the pandemic, </strong></em><em><strong>which lead to lower fee incomes and trading losses. This was offset to some extent by the company by </strong></em><em><strong>rationalisation of manpower and other costs during the course of the year, which have also created long </strong></em><em><strong>term efficiency gains".</strong></em><!--more--> <strong>Key Highlights from the Annual Report 2021</strong> 1. The revenue has gone down from 336 Cr in FY20 to 279 Cr in FY21, registering a negative growth of 14%. 2. To reduce the impact of de-growth in revenue to the bottom-line, Anand Rathi Wealth Services has reduced the "<strong>Employee Benefit Expense</strong>" from 167 Cr in FY20 to 150 Cr in FY21, and "<strong>Other Expense</strong>" from 57 Cr to 44 Cr. This shows company is struggling to cope up with the losses in the business. 3. PAT has reduced from 60 Cr to 44 Cr. Registering a de-growth of 27%. 4. Balance Sheet size has been reduced from 409 Cr in FY20 to 339 Cr in FY21. This is mainly due to below mentioned blue bordered box, where "<strong>Other Financial Liabilities</strong>" i.e. <strong>Advance from Customers</strong> has been given back and it has reduced from 100 Cr in FY20 to 13 Cr in FY21. <img class="alignnone size-full wp-image-17322" src="https://unlistedzone.com/storage/knowledge-logo/55.jpg" alt="" width="944" height="303" /> 5. Due to the above factor, cash-flow from operations has gone into negative. In FY21, Anand Rathi has achieved negative cash-flow from operations. Last year, it was ~140 Cr. <img class="alignnone size-full wp-image-17324" src="https://unlistedzone.com/storage/knowledge-logo/444.jpg" alt="" width="823" height="339" /> <strong>Valuation of Anand Rathi Unlisted Share?</strong> <strong>a)</strong> As per consolidated balance sheet, Anand Rathi Services has 2.75136 Cr shares outstanding. <strong>b)</strong> Current share price is ~650 per share. Mcap = ~1800 Crores. <strong>c)</strong> EPS (FY21) = 16. So, P/E based on this EPS is 40x ( which looks high as compared to peers). <strong>Announcement of Bonus Shares</strong> The company is issuing bonus share in 1:2. It means for every 2 shares held as on record date i.e. <strong>15.07.2021</strong>, you will get 1 equity shares. <strong>Change of name of the company</strong> During the period under review, the name of the Company was changed from Anand Rathi Wealth Services Limited to Anand Rathi Wealth Limited, effective from 7th January 2021. This has been done to comply with last year SEBI regulations according to which, no person, while dealing in distribution of securities, shall use the nomenclature “Independent Financial Adviser or IFA or Wealth Adviser or any other similar name” unless registered with SEBI as an Investment Adviser. <strong><a href="https://unlistedzone.com/storage/knowledge-logo/ARWL_Annual-Report_2020-21.pdf">Annual Report 2021</a></strong>
<p>The year FY20-21 has been fantastic for the broking industry. Pandemic has given so much time to the people of India to participate and play in the stock market. Record number of demat accounts (~1.5 Crores) have opened in FY21, record buying by Retail investors (~45% market participants), and many more such events have happened. Due to which, market is today trading at all time high.</p> <!--more--> <p>FIIs have shown tremendous interest in the Indian stock market. After Brazil, India is the second most favored nation for investment by FIIs. The total investment of FIIs in the Indian stock market have gone up from ~21 Lac Crores in FY19 to ~42 Lac Crores in FY21. <br /><br /><strong>Changing behavior of Investors?</strong> <br /><br />During pandemic, people were on a constant lookout for avenues of income generation and investment. These new entrants were not only from metro cities but also from Tier II and Tier III cities as well. This speaks volumes about the change in mindset of investors and their willingness to invest in equities, as opposed to their traditional go-to investment instruments such as gold, real estate, FDs etc. It is very interesting to note that generational changes are not happening in 25-30 years anymore. It has been reduced to 5-10 years now. Each generation has different needs and is disrupting the service delivery models with its expectations. <br /><br /><strong>Key Metrics of HDFC Securities Unlisted Share in FY21</strong> <br /><br /><img src="https://dyvmwwyqozzzb.cloudfront.net/main/1-4.png" width="254" height="143" /><img src="https://dyvmwwyqozzzb.cloudfront.net/main/2-4.png" width="229" height="134" /><br /><img src="https://dyvmwwyqozzzb.cloudfront.net/main/3-4.png" width="242" height="241" /><img src="https://dyvmwwyqozzzb.cloudfront.net/main/4-1.png" width="239" height="231" /><br /><img src="https://dyvmwwyqozzzb.cloudfront.net/main/5-2.png" width="232" height="212" /><br /><br /><strong>Key Business Highlights of HDFC Securities in FY21</strong> <br /><br />1. In FY21, it has more than 10 lac active clients. And, it is the 5th largest stock broker in India. <br /><br />2. 50% of the brokerage income generated in FY21 comes via mobile application, up from 32% last year. It shows more and more people are using mobile application for trading. <br /><br />3. In FY21, HDFC Securities has onboarded 50% of clients via digitally. <br /><br />4. As on 31.03.2021, HDFC Securities has 216 branches in more than 159 cities in India. <br /><br />5. In Margin Trade Funding, the total book size is ~1700 Crores. Average book size during FY21 was ~900 Crores up by 50% as compared to last year when it was ~500 Crores. <br /><br /><strong>Financial Performance in last 5 years.</strong></p> <div class="table-overflow-init"> <table style="border-collapse: collapse; width: 288pt; box-sizing: border-box; outline: 0px; overflow-wrap: break-word; border-spacing: 0px; box-shadow: rgba(0, 0, 0, 0.1) 0px 5px 10px; border-radius: 3px; font-variant-ligatures: normal; font-variant-caps: normal; orphans: 2; text-align: start; widows: 2; -webkit-text-stroke-width: 0px; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;" border="0" width="384" cellspacing="0" cellpadding="0"> <tbody> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl67" style="height: 17.25pt; width: 48pt; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" width="64" height="23">Year</td> <td class="xl68" style="width: 48pt; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" width="64">Revenue</td> <td class="xl68" style="width: 48pt; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" width="64">PAT</td> <td class="xl68" style="width: 48pt; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" width="64">OPM</td> <td class="xl68" style="width: 48pt; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" width="64">NPM</td> <td class="xl68" style="width: 48pt; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;" width="64">EPS</td> </tr> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl69" style="height: 17.25pt; border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" height="23">2016</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">401</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">133</td> <td class="xl64" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">53%</td> <td class="xl64" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">33%</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;">86</td> </tr> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl70" style="height: 17.25pt; border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" height="23">2017</td> <td class="xl65" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">553</td> <td class="xl65" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">215</td> <td class="xl66" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">62%</td> <td class="xl66" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">39%</td> <td class="xl65" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;">139</td> </tr> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl69" style="height: 17.25pt; border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" height="23">2018</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">788</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">344</td> <td class="xl64" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">68%</td> <td class="xl64" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">44%</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;">222</td> </tr> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl70" style="height: 17.25pt; border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" height="23">2019</td> <td class="xl65" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">782</td> <td class="xl65" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">329</td> <td class="xl66" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">66%</td> <td class="xl66" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">42%</td> <td class="xl65" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;">210</td> </tr> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl69" style="height: 17.25pt; border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" height="23">2020</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">862</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">384</td> <td class="xl64" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">51%</td> <td class="xl64" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">45%</td> <td class="xl63" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;">246</td> </tr> <tr style="height: 17.25pt; box-sizing: border-box; border-color: rgba(0, 0, 0, 0.1); border-image: initial; outline: 0px; overflow-wrap: break-word;"> <td class="xl71" style="height: 17.25pt; border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;" height="23">2021</td> <td class="xl72" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">1368</td> <td class="xl72" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">703</td> <td class="xl73" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">70%</td> <td class="xl73" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word;">52%</td> <td class="xl72" style="border-top: none; box-sizing: border-box; border-top-style: initial; border-bottom-style: initial; border-left-style: initial; border-top-color: initial; border-bottom-color: initial; border-left-color: initial; border-image: initial; outline: 0px; overflow-wrap: break-word; border-radius: 0px;">446</td> </tr> </tbody> </table> </div> <p><br /><a href="https://unlistedzone.com/storage/knowledge-logo/HDFC-Securities-Annual-Report-FY-2020-21-202106211554551198879.pdf">Annual Report of HDFC Securities 2021</a><br /><br /></p>
Paytm has sent notice to all the shareholders regarding conducting of Extra-ordinary General Meeting (“EGM”) on Monday, July 12, 2021. The following decisions will be made and finalized in the meeting. 1. To consider and approve raising of capital through an IPO of equity shares. They are planning for an IPO consisting of Fresh Issue of Shares worth Rs.12000 Crores and OFS (Offered for Sale). 2. Company is also looking for a Pre-IPO placement of Paytm Shares. The size is not yet disclosed.<!--more--> 3. To consider and approve declassification of Mr. Vijay Shekhar Sharma from his status as promoter of the Company. <strong>What does that mean for Paytm?</strong> As per SEBI regulation for an IPO, the promoter of the company should have minimum 20% shareholding. However, Vijay Shekhar Sharma is holding shares less than 20%, so Paytm board has decided to remove the tag of "Promoter" before IPO. However, the good news is, Paytm is looking for to get PMC (Professionally Managed Company) status. PMC status has to be approved by SEBI. If that happens, Paytm will get good valuation as PMC companies are considered to be well managed as compared to promoter driven companies. <strong>How to get PMC Status?</strong> As per SEBI, to get PMC status, the single shareholder in the company should not have more than 25% stakes. Let us see the shareholding pattern of Paytm. Ant Group = 30.33% Alibaba = 7.32% Softbank = 18.73% Vijay Shekhar = 14.97% Elevation Capital = 17.65% Others = 11% So, to get PMC status Ant Group has to reduce the shareholding below 25%. <a href="https://unlistedzone.com/storage/knowledge-logo/OCL_EGM_Notice_2021.pdf">Paytm EGM Notice</a>
<div class="adn ads" data-message-id="#msg-f:1702873588337767152" data-legacy-message-id="17a1d281a24472f0"> <div class="gs"> <div class=""> <div id=":186" class="ii gt"> <div id=":187" class="a3s aiL "> <div class="gmail_quote"> <div dir="ltr"> <div class="gmail_default">Utility service firm Sterlite Power has secured a funding of Rs 580 crore from Rural Electrification Corporation for its Udupi Kasargod Transmission Project. The company said it has successfully completed the closure of the project set up by Udupi-Kasargode Transmission Project Ltd (UKTL). <br /><br />This inter-state transmission project was spanning across the southern states of Karnataka and Kerala. The scope of the project also includes supply and installation of two 400 kV line bays and bus bar extension at Udupi switchyard. <br /><br />The project is made of two critical elements, including a 1000 MVA 400/220 kV Gas Insulated Substation (GIS), one of the first GIS substations to be built at Kasargod, the company said in its statement. <br /><br />The company has received a Letter of Award from RECPTCL (REC Transmission Projects Company Ltd), according to which, the project involves construction of a 400kV (Quad) D/c transmission line, extending over 240 ckm (circuit km), from Udupi in Karnataka to Kasaragod in Kerala. Anuraag Srivastava, Group CFO of Sterlite Power said the company was pleased to secure funding from REC. <br /><br />In March 2021, Sterlite Power successfully completed its transmission project NER-II and subsequently sold it to IndiGrid. Recently, the company announced an equal partnership with global investment manager AMP Capital to develop greenfield power transmission projects in India, including the UKTL project. <br /><br />Sterlite Power is a leading developer of power transmission infrastructure. Pratik Agarwal, managing director of Sterlite Power, in a recent interview said that the firm is actively working towards greening the grid through power trans­mission projects. It is now working on the ambitious idea of inter-country power grids, on which US Special Presidential Envoy for Climate John Kerry reached out for collaboration.</div> </div> </div> </div> </div> </div> </div> </div> <!--more-->
IPO bound unicorn Paytm is aggressively eyeing merger and acquisition ahead of filing its papers with market watchdog Sebi. The fintech firm is in exploratory talks with three payment gateway firms namely, BillDesk, PayU and BSE-listed Infibeam Avenues, to buy a substantial stake in them, suggested a report. Paytm is looking to mop-up about $3 billion via its primary float. The Vijay Shekhar Sharma-led digital payment service provider is looking to strike just prior to its IPO plans.<!--more--> Paytm is targeting to fetch an astronomical valuation of between $25-$30 billion, which is almost double its previous fund raising at valuation of $16 billion. Paytm's IPO could be India's largest ever public offering so far. Not only Paytm, food aggregator Zomato, pre-owned car start ups CarTrade, e-pharmacy PharmEasy, beauty e-commerce omnichannel Nykaa and online insurance aggregator PolicyBazaar are likely to make a Dalal Street debut. According to sources, the talks are in the early stages and it is not sure which of these entities will be keen to join forces with Paytm. The company is looking to seal the deal before its IPO to enhance its profitability. Paytm too has its own payment gateway, but BillDesk, Infibeam Avenues, PayU and Razorpay are well entrenched in the ecosystem and have specialised businesses. According to the industry trackers, the domestic payment gateway market can grow 15% annually to $100 billion by 2025. According to market sources, Paytm is hunting for a couple of acquisitions before hitting the capital markets to raise funds. The company is trying to showcase some aggression and action to ensure its dominant position in the market. <strong>Acquisitions by Paytm</strong> Founded in 2000, paytm was launched as a mobile recharge and bill payment platform in 2010. Paytm has grown as one of the largest fintech startups offering services like UPI, credit and debit cards, stock broking, insurance, ticket booking, bill payments, payment bank, gold etc. In 2018, Paytm acquired Cube26, a tech startup which developed various social engagement applications. In December 2017, Paytm also acquired O2O deals platforms Little and Nearbuy, wherein it arranged a merger of the two startups and made a strategic investment in the resultant entity for a majority stake. Prior to that, Paytm acquired a majority stake in ticketing platform Insider.in. The acquisitions are in line with Paytm’s strategy of becoming more than a digital wallet and expanding the categories in which its digital payments services are being used. Paytm has been trying to position itself into the biggest digital conglomerate operating in India. However, the dream is still far-fetched.
Last year Paytm has acquired Raheja QBE to expands its insurance portfolio by going inorganic way. To move one step ahead in the product portfolio, this week it has added <strong>Car</strong> and <strong>Bike</strong> Insurance as well for the users. For this Paytm has tied up with 14 insurance companies. Through partnerships, the company will offer 14 add-on options for cars and six add-on options for two-wheelers, including zero depreciation, invoice cover, roadside assistance and engine protection for customers on its platform.<!--more--> Paytm is also planning to offer of up to 80% discount on Own Damage for select Vehicles. “<em>Insurance continues to be an underserved segment in India. Paytm hopes to change that by making accessibility and affordability a priority. We are focused on making the whole process of buying and renewing both car and bike insurance simple, seamless and completely digital</em>," said a Paytm spokesperson. <strong>Paytm IPO News</strong> Paytm board is planning to file a DRHP soon to bring $3Billion IPO, which if successful would be the biggest IPO in the history of Indian stock market. Paytm which was started in the year 2008 carries the business to provide Telecom based value-added services to various telecom operators across the Territory, Payment gateway aggregator services, Ticket services, Utility bills payments, Insurance, Hotel booking services, Stock Broking etc. They got a real boost in their sales during demonetization in 2016. <span style="font-size: 14pt;"><strong>Financial Performance (Fig. in Cr)</strong></span> <table style="border-collapse: collapse; width: 144pt;" border="0" width="192" cellspacing="0" cellpadding="0"> <tbody> <tr style="height: 15.0pt;"> <td class="xl63" style="height: 15pt; width: 48pt; text-align: center;" width="64" height="20"><strong>Year</strong></td> <td class="xl63" style="border-left: none; width: 48pt; text-align: center;" width="64"><strong>Revenue</strong></td> <td class="xl63" style="border-left: none; width: 48pt; text-align: center;" width="64"><strong>PAT</strong></td> </tr> <tr style="height: 15.0pt;"> <td class="xl63" style="height: 15pt; border-top: none; text-align: center;" height="20">2017</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">780</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">-900</td> </tr> <tr style="height: 15.0pt;"> <td class="xl63" style="height: 15pt; border-top: none; text-align: center;" height="20">2018</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">3314</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">-1604</td> </tr> <tr style="height: 15.0pt;"> <td class="xl63" style="height: 15pt; border-top: none; text-align: center;" height="20">2019</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">3579</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">-4172</td> </tr> <tr style="height: 15.0pt;"> <td class="xl63" style="height: 15pt; border-top: none; text-align: center;" height="20">2020</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">3350</td> <td class="xl63" style="border-top: none; border-left: none; text-align: center;">-2833</td> </tr> </tbody> </table> The company’s overall expenses were reduced by 20 per cent in 2019-20 to Rs 5,861 crore compared to Rs 7,254 crore in the previous fiscal year. Paytm’s revenues also fell slightly (1 per cent) to Rs 3,350 crore in FY20.The company’s overall losses at PAT levels reduce from Rs 4172 crore in FY19 to Rs 2833 crore in the FY20. This shows that company has taken measures to reduce the expenses.
Cochin International Airport Ltd. enlists 800 domestic operations for the summer schedule which is effective till 30th October 2021. The Winter schedule which ended in March 2021 had featured 742 services in domestic sector. Of the 400 weekly departures scheduled for the season, Indigo will operate 167 services while Air Asia planned to operate 62 services. <!--more--> The domestic summer schedule features connectivity to 15 cities from Kochi which includes 105 weekly departures to Bangalore, 63 to Delhi, 59 to Chennai, 47 to Mumbai,35 to Hyderabad,14 to Pune and 7 to Patna. Air Asia will be operating additional daily flights in Chennai, Bangalore and Delhi Sectors while SpiceJet will be operating additional flights in Pune, Ahmedabad, Chennai and Bangalore. Seven weekly flights each to Thiruvananthapuram and Kannur are also been scheduled.
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