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VerSe Innovation has recently raised ~730 Crores from AplhaWave, Google and Microsoft and attain a coveted status of Unicorn. Unicorn is the name given to the startups which has reached a valuation of $1Billion dollar. <strong>What is VerSe do?</strong> VerSe is the parent company of Daily Hunt. Dailyhunt, is an Indian content and news aggregator application based in Bangalore, India that provides local language content in 14 Indian languages from multiple content providers. It basically act as an aggregator of news from different news channels across different states.<!--more--> VerSe was started in the year 2007 as a Value Added Services, which in 2011 had acquired NewsHunt and subsequently, renamed the company to Daily Hunt in 2015. Dailyhunt has built data integrations with over 100,000 publishers and people who are giving them a content. On the performance side, they have 250 advertisers with whom they have full-funnel data integration by which they can track the user and do retargeting. And which is why Dailyhunt is the third largest by revenue in terms of a single destination after Google and Facebook in the country. <strong>Funding Details</strong> 1. In 2014, Dailyhunt raised its Series B funding of 10 Crores from Sequoia Capital India. 2. In 2015, Dailyhunt raised its series C funding round of 280 Crores from Falcon Capital. 3. In 2016, Dailyhunt raised its Series D funding of 175 Crores from ByteDance, owner of TikTok. 4. In 2018, Dailyhunt raised its Series E funding of 44 Crores from Falcon Edge Capital. 5. In 2020, Dailyhunt raised close to 738 Crores from Falcon Edge Capital, Google and Microsoft. <strong>How is the Josh?</strong> Josh is the short-video app of Dailyhunt which has launched recently after the banning of Tik-Tok. We have seen how Dailyhunt has aggressively advertise the Josh App during the IPL season, shows the commitment of company in capturing the market. In the short-video app, company receives competition of Chingari, Mitron, Moj and Roposo. As per Umang Bedi, " <em>the response to Josh has been magical. Literally in 45 days we have become the top rated app with 50 million downloads and 23 million people coming to the app every day and spending 21 minutes. It has a billion video plays a day and 5 million people creating content. </em>" <strong>Revenue?</strong> As on 2018-19, the Company has revenue close to 350 Crores which mainly comes from advertisement.
<strong>Financial Highlights on a Standalone basis</strong> 1. During the year FY19-20, Proyuga has earned an income of Rs. 4.10 Crores as against the previous year’s income of Rs. 2.02 Crores. So, revenue has doubled, which is a big positive. 2. The expenditure incurred in FY19-20 (excluding depreciation) was Rs. 13.78 Crores as compared to the previous year’s amount of Rs. 19.78 Crores.<!--more--> 3. Proyuga in the FY19-20, has incurred a Net Loss of Rs. 13 during the year under review as compared to the Net Loss of Rs. 19 Crores incurred in the previous year. <strong>Subsidiaries' role in marketing</strong> Mayuukha Pte Ltd was incorporated on 5th February 2018 in Singapore. During the year FY19-20, the revenue for the year was Rs. Nil. The main purpose of forming the company is to market the product of Proyuga in the UK and Australian markets. For that, Mayuukha has opened two new subsidiaries in both countries. The UK subsidiary has also opened one wholly-owned subsidiary in Dubai, to focus on the UAE market. <strong>Key Achievements of Proyuga in FY19-20</strong> 1. iB Cricket Gaming Arcades- Till date Proyuga has established gaming arcades across India reaching a total of 30 iB Cricket Arcades. iB Cricket aims to give some common delight zones for the cricketing fraternity to gather and facilitate a platform to show their love for cricket. 2. Global Expansion of iB Cricket - Proyuga has established a comprehensive business network including sales partners across 5 continents. More than 80 corporates across 8 countries have thus far utilized iB Cricket’s services to engage their employees. With this extensive network, the company shall organize corporate tournaments on a large scale in the coming months. 3. iB Cricket in Singapore- A special experience zone was set up at the Inspreneur 3.0 - India Singapore Summit organized by the High Commission of India in Singapore. 4. iB Cricket in UAE - Proyuga in UAE has organized a Corporate Carnival which saw the participation of 200+ employees across 30+ corporates thus establishing itself as one of the most integral parts of any employee engagement activity in the region. iB Cricket was present at the eSports Games Cup organized in one of the most prestigious schools of UAE namely GEMS Wellington. It had run VR Cricket tournaments for classes 6-12 across 16 schools. 5. iB Cricket in Australia - iB Cricket has worked with several stakeholders including brands, corporates, and academic institutions in Australia. Your company has organized open VR tournaments in Melbourne eSports Open and Sports Tech World Series. iB Cricket was displayed in universities like RMIT and Swinburne for students to compete in. With a strong base in Australia, iB Cricket is all set to embark a strong impact during the upcoming T20 World Cup. <strong>Future Scope</strong> 1. iB Cricket Steam Version - With the number of people logging on to Steam having significantly spiked up since the start of the year, iB Cricket is ready to be made available on Oculus Quest VR Headset. This would help the cricket fans across the globe play iB Cricket right from their living room. With the headset having a healthy market share in Australia, UK, USA, it has laid the right path for consumer sales of the company in these respective markets. This version of iB Cricket would also allow players from all across to play with their friends while they bowl through a PC Console for the batsman in VR. The game was launched on Steam VR Platform for the global audience to purchase and pursue. With this your company will be able to run online VR Cricket tournaments and also add a new revenue stream 2. iB Cricket Retail Kit - Going ahead in India, iB Cricket will also facilitate fans with the Retail version of the setup for people to play from their home. iB Cricket hotspots will further act as centers for tournaments and challenges for people holding the top ranks in the hyper-local challenges. Further, iB Cricket Retail Kits would bring more people to adapt to the culture of this nu-age Vsport, thus, help more people to compete in the forum. 3. With the recent breakthrough in the VR hardware, iB Cricket team came up with an advanced version in which there is no need of PC, sensors, wires, pulleys, etc. This makes the setup and gameplay of iB Cricket more pleasant and easy. Now they can take iB Cricket to every home where people can play cricket in world-class stadiums right from their home. This breakthrough opens us business opportunities around the world in the US, UK & Australia right now and many countries soon. <strong>UnlistedZone View</strong> The way the company is performing, expanding the footprint in the US, UK, Australia, and UAE market and by looking at growth available in the gaming segment, the future of Proyuga looks very bright. The company is managed and mentored by iB hubs, which work with various startups with an aim to accelerate the progress of society through initiatives that address the root causes of the pressing problems in society.
Below are the quick updates about the ICEX financial performance highlights and regulatory requirements. 1. The operating income for F.Y 2019-20 is ₹ 3.23 Crore as against ₹ 1.90 Crore in F.Y 2018-19. 2. The net loss after tax for the year ended March 31, 2020, stood at ₹ 42.32 Crore as against ₹ 28.57 Crore for the year ended March 31, 2019.<!--more--> 3. The net worth as of March 31, 2020, stood at ₹129.37 crores. 4. In FY19-20, the Company has launched Paddy Basmati Futures Contract on July 11, 2019, thereby marking another milestone. ICEX has created the world’s first organized, transparent, and regulated derivatives market for diamonds. 5. ICEX Company had envisioned and has started a business in Mutual Fund Distribution Scheme and its related activities during the financial year 2019-20. 6. The average daily turnover during F.Y 19-20 was ₹ 156.41 crores as compared to ₹ 93.62 crores in F.Y 2018-19 (single side) with a total of 7098 clients traded on the Exchange. 7. The total turnover of commodity futures traded on ICEX Exchange for F.Y. 19-20 stood at ₹ 40511 crores as against ₹ 24000 crores in F.Y 2018-19. 8. ICEX has a national reach with 138 SEBI registered members, having 1298 Authorised Persons, operating through 3340 terminals including Computer to Computer Link (CTCL) across 329 cities/towns across India as of March 31, 2020. <strong>Regulatory Updates:</strong> In order to develop the commodity derivatives market and Mutual Funds, applicable to ICEX Exchange, SEBI has brought the following reforms among others as under:- 1. Participation of Eligible Foreign Entities (EFEs) in the commodity derivatives market. 2. Participation of Foreign Portfolio Investors (FPIs) in Commodity Derivatives. 3. Uniformity in the procedure for obtaining samples of goods at the Exchange accredited warehouse. 4. Total Expenses Ratio (TER) and performance Disclosure for Mutual Funds. 5. Instant Access Facility (IAF) in Mutual Funds.
Paytm Money, the subsidiary of Paytm, which recently started as the full-fledged retail broking service in the Indian stock market, has today announced the facility of applying in the IPO from its app itself. The platform has enabled investors to instantly apply for all the latest IPOs via UPI ID, linked to their bank accounts to quickly complete the IPO application process. The company is leveraging the convenience of UPI infrastructure, which was recently allowed by SEBI for applying in IPOs to reduce the time required to complete the process of IPO from 6 days to 3 days.<!--more--> Paytm App is also providing the option to check the upcoming IPOs, the company details, prospectus details, etc. The platform also gives an option to modify, and cancel the IPO application. <em>Varun Sridhar, CEO — Paytm Money said, “The Indian start-up ecosystem has a growing appetite for entering the capital market, now more companies want to raise capital from a broader set of investors with a public listing. Likewise, investors are also increasingly willing to diversify their portfolios. This presents a big opportunity and we intend to make the process more accessible to our fellow citizens. In near future, we plan to launch IPO funding, derivatives trading, margin finance, and a host of other value-adding features to make investing seamless and convenient. This is aligned with our mission to drive financial inclusion across the country.”</em> Paytm is trying to attract IPO investors which in itself is a very big market. In the month of Sept and Oct-2020, we have seen how dozens of companies raised money from the IPO market. The investors who have applied in the IPOs too have made big money. This presents a big opportunity for Paytm to capture the market. If Paytm able to capture the interest of clients with ease of service to apply in the IPOs, then they will surely increase their presence in the broking business. We at UnlistedZone think that Paytm in the broking business with the use of technology will try to copy-cat Zerodha features and services one by one. Now the time will tell whether it can replicate the performance of Zerodha or not.
Press Trust of India has informed that the Ministry of Road, Transport, and Highway today announced that the 2-Wheelers will have to compulsory manufacture and use BIS-certified helmets. This will reduce the low-quality helmets sold in India and also help in saving the lives of the rider during accidents. <!--more--> Following the directions of the Supreme Court Committee on Road Safety, a committee was formulated to consider lighter helmets in India suiting the country's climatic conditions and that for ensuring compliance among citizens to wear the helmets. The total number of two-wheelers being manufactured in India annually is nearly 1.7 crore. This is great news especially for unlisted companies like Studds Accessories, as the use of BIS-certified helmets will help the company in gaining more market share from the unorganized players which were selling non-standard helmets.
Fino Payment Bank which has shown a record growth of transactions in the COVID-19 time has come up with an excellent Q2FY21 number showing PAT of 4.5 Crores. The PAT has gone up from 1.9 Crores in Q1FY21 to 4.5 Crores in Q2FY21. This shows that Fino-Payment bank is growing on a QoQ basis.<!--more--> Last year i.e. FY19-20, the company was profitable at the EBITDA level but now in FY20-21, the company has shown a profit at the PAT level in the consecutive quarters. The reason for profitability is a lean variable cost of operations along with increasing revenue and pushing out of high-margin products. Fino-Payment bank has reported a total transaction settlement of Rs 33,000 crore in Q2, up 43 percent from the year-ago period. As per Rishi Gupta, the CEO of Fino-Payment Bank that; <em>"The biggest positive for us is the change in customer’s banking behavior resulting in increased transactions. We will continue to explore growth opportunities in payment services as well as the trillion-dollar digital payments space and create value for all our stakeholders. </em>. We at UnlistedZone are in the view that the COVID-19 has presented a similar opportunity that had come in 2016 after demonetization, where companies focussing on digital payment will grab more and more market share in the payment business. The people are happy to pay and transfer money instead of using cash to safeguard themselves from COVID-19. After this excellent performance at the PAT level in consecutive quarters, Fino-Payment bank has become the second profitable payment bank in India after Paytm. Recently, the RBI committee has also given a recommendation allowing Payment banks having operations for 3 years to convert into Small Finance Bank. Let us see if these recommendations are accepted by RBI. If this happens, the Fino-Payment bank will grab the opportunity with both hands. Previously, the time frame was of 5 years. <strong>Valuation of Fino-Paytech?</strong> In the Unlisted market, the shares of Fino-Paytech, the parent company of Fino-Payment bank are available. The current price of shares is 120 per share. As of 31.03.2020, the total outstanding shares are 12.25 Crores. Mcap = 1500 Crores.
The state Government of Karnataka has signed an agreement with Tata Technologies, a flagship company of Tata Group, to upgrade the infrastructure of 150 ITIs( Industrial Training Institute) with the latest technology. The overall cost of project is 4636 Crores. The agreement has been signed in the presence of Karnataka's Chief minister BS Yediyurappa. As per project, Tata Technologies will train 1 lakh youth every year for the next 10 years.<!--more--> This is the excellent step taken by the Karnataka Government to educate youth with latest technologies, so that they can get the skills which are required to get jobs in this present world. <strong>Who will bear the project cost?</strong> In this agreement, Tata Technologies will provide Rs 4,080 crore and rest money i.e. 556 Crores will be provided by State government. Three hundred trainers from Tata Technologies and associate industries will impart training in these 150 ITIs. At present in the Karnataka we have total 1,713 ITIs out of which 270 are run by government, 196 aided and 1,247 private - where around 1.8 lakh students are enrolled. Of the 270 state-run ITIs, 150 have their own building. And Tata Technologies along with other players will train these 150 ITIs. <strong>Sector to focus on?</strong> The agreement will focus on electric vehicles, agricultural machinery, aerospace/defence, horticulture, smart cities and other sectors. And these are the trending sectors where lot of employment will be generated in the future.
Reliance Retail has purchased 96% stakes in Urban Ladder for just 186 Crores. Why we are just 186 Crores? because last year the valuation of Urban Ladder was 1200 Crores. So, Reliance Retail is getting Urban Ladder at 1/6th of the value. <!--more-->The Urban ladder over the years has been struggling and that is the reason the investors have parted away with the company so cheaply. Reliance Retail has further options to acquire 100% stakes in the company. This is all cash-deal. RRVL proposes to make a further investment of up to INR 75 crore. Further investment is expected to be completed by December 2023. <strong>Urban Ladder:</strong> UrbanLadder was incorporated in India on February 17, 2012. UrbanLadder is in the business of operating a digital platform for home furniture and décor products. It also has a chain of retail stores in several cities across India. UrbanLadder’s audited turnover was INR 434.00 crore, INR 151.22 crore, and INR 50.61 crore, and Net Profit / (Loss) of INR 49.41 crore, INR (118.66) crore, and INR (457.97) crore in FY 2019, FY 2018, and FY 2017 respectively. With this investment, the Reliance Retail group’s digital and new commerce initiatives and widen the bouquet of consumer products provided by the group, while enhancing user engagement and experience across its retail offerings.
Suryoday Small Finance Bank is a new age bank that went live on January 23rd, 2017. The main aim of forming a small finance bank is to bring the best banking solutions to the ‘banked’, ‘under-banked’, and the ‘un-banked’ sections of society. Today, Suryoday Small Finance is the leading Small finance bank in India with 3600 Crores of loan advances and ~3100 Crores of deposits. Suryoday Small Finance Bank will come up with an IPO soon as per RBI regulations.<!--more--> Suryoday Small Finance Bank on 12.11.2020 has published its half-yearly results to the exchanges. <strong>Results Analysis</strong> 1. The interest income for the first 6MFY21 increased to 420 Crores from 365 Crores last year. This shows a growth of 15% in the interest income. 2. To mitigate the risk of Covid-19, the Suryoday Small Finance Bank has kept 91 Crores for Provisions and contingencies. This is up by 20 Crores from last year. 3. PAT for the first 6MFY21 stands at 53 crores down from 83 Crores last year. This is mainly due to higher provisions and contingencies. 4. Suryoday Small Finance Bank has shown an EPS of 6.09 in the first half of FY21. 5. During the half-year ended September 30, 2020, the Bank issued 23,90,020 equity shares ruder private placement aggregating to 62.14 crores. This translates into a share value of 259 per share. 6. GNPA stands at 2.3% and NNPA at 0.35% as of 30.09.2020. 7. Capital Adequacy Ratio stands at 29.48%. 8. Net-Worth stands at Rs. 1187 Crores and no. of shares outstanding 8.912 Crores. So book value per share 133 per share. <strong>COVID-19 Impact and Provisions</strong> The Bank has made an additional provision of 47.99 crores (Retail banking 44,63 crores and Corporate banking 3.36 crores) for potential impact COVID-19 as of September 30, 2020. Further COVID provision of 65.99 crores (Retail banking { 57.43 crores and Corporate banking { 8.56 crores) was created as of March 31, 2020. Without COVID-19 provision segment result for Retail banking and Corporate would have been { 103.79 crores and { 2.72 crores for halfyear ended September 30, 2020, and t 2l 1.04 crores and { 4.07 crores for the year ended March 3 l, 2020 respectively. <a href="https://unlistedzone.com/storage/knowledge-logo/6d89626c-5953-434b-9b9a-f125170e1b6f.pdf">Results Link</a>
Buying gold is always a cumbersome task given the reason that finding pure gold is difficult, a lot of paperwork to buy gold, and later on, selling is also difficult. So, to remove all these burdens, Paytm from its app has given the option of buying gold digitally. <!--more-->And you will be surprised to know that Paytm has sold close to 5000 Kg of gold from its application in the last 6 months. If we take the average price of 45000 per share, the worth of transactions in the last 6 months is ~2200 Crores. This shows that Indians are very much inclined towards investment in gold and if they get a simple platform like Paytm to invest in gold by sitting at the comfort of home, then there is no stopping for gold. By looking at the increase of transactions, Paytm has also increased the transaction limit of digital gold to Rs 1 crore and expects the current momentum of high growth to continue. Diwali and Dhanteras are considered quite auspicious in India to buy gold and that is the added reason for the spurt in the sale of gold via the Paytm app. Paytm Money CEO Varun Sridhar said, “As the pandemic continues, Paytm's digital gold has generated massive interest from Indians who want to continue buying gold for the purpose of investment, personal use, and gifting during these uncertain times, but have been restricted from going out to buy gold or meet friends and family.” <strong>How to buy gold via Paytm App?</strong> <iframe src="https://www.youtube.com/embed/SKXjbwjOCZk" width="677" height="381" frameborder="0" allowfullscreen="allowfullscreen"></iframe>
Paytm is trying to put financial inclusion deeper in our country by enabling collateral-free loans of up to Rs. 500,000 at a low-interest rate and unique daily EMI product customized for micro-merchants.<!--more--> As per Bhavesh Gupta, CEO — Paytm Lending said, “With our collateral-free instant loans, we are trying to help Kirana stores & other small business owners who have been left behind by the traditional banking sector and do not have easy access to loans and credit. Going forward, we will especially focus on EDC merchants and provide higher loan amounts based on their EDC transactions" <strong>How do they give loans instantly?</strong> 1. Their algorithm determines the credit-worthiness of the merchant based on his daily transactions and arrives at a pre-qualified loan offering. 2. They have digitized the entire process starting from the loan application, approval to disbursal with no additional documents required in partnership with NBFCs and banks. 3. Loan repayment is primarily collected from the merchant’s daily settlement with Paytm and there are no prepayment charges on these loans. In the last financial year, Paytm has processed loans worth Rs. 550 crore benefiting over a lakh merchant partner.
The board of Manjushree Technopack Limited has announced that below are the proposals to be passed by the Members through electronic voting: (a) Issue of Compulsorily Convertible Debentures on a preferential basis.<!--more--> Manjushree Technopack is doing preferential allotment on a private placement basis, up to 40,13,002 Compulsorily Convertible Debentures, at par, with a face value of Rs.100 each(“CCDs”), to AI Lenarco Midco Limited (”Investor”), for an aggregate amount of Rs. 40,13,00,200/ being convertible into such number of equity shares of the Company (“Conversion Shares”), as derived on the basis of the conversion price of Rs.1637.96. AI Lenarco Midco Limited is the largest shareholder with a 77% stake in the company. (b) Amendment to the Articles of Association of the Company. (c) Appointment of Mr. Sanjay Digambar Kapote as Managing Director and CEO. <strong>E-Voting</strong> The e-voting period shall commence on Monday, 9th November 2020 at 9:00 a.m. (IST) and end on Tuesday, 8th December 2020 at 5:00 p.m. (IST). The e-voting will be blocked by CDSL thereafter. During this period, Members of the Company holding shares either in physical or dematerialized form, as on the cut-off date, i.e. Friday, 30th October 2020, may cast their vote electronically. <a href="https://unlistedzone.com/storage/knowledge-logo/Postal-Ballot-Notice-23-10-2020.pdf">Postal Ballot Notice</a>
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