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<strong>Religare Health Insurance</strong> is going to conduct <strong>Extra-Ordinary General Meeting</strong> on Friday, March 13, 2020 at 10.00 am at Vipul Tech Square, Tower C, 3rd Floor, Sector-43, Golf Course Road, Gurugram- 122009 to transact the following businesses: <strong>a)</strong> To approve the issue of private placement/preferential allotment of equity shares to M/s Trishikhar ventures LLP. <strong>b)</strong> To approve private placement allotment of equity shares to a few existing shareholders. <strong>c)</strong> To approve the re-appointment of Mr. Anil Gulati as a managing director & ceo <strong>d)</strong> To approve amendment no. 3 to Religare Health Insurance CEO stock option scheme 2014. <strong>e)</strong> To Change the Name Of The Company <span style="text-decoration: underline; font-size: 14pt;"><strong><a href="https://d2un9pqbzgw43g.cloudfront.net/main/NoticefortheExtrardinary_1582031918.pdf">EGM Notice</a></strong></span>
<span style="font-size: 12pt;">Barbeque Nation has filed for IPO on 17.02.2020 with SEBI. It is one of India's leading casual dining restaurant chains according to the Technopak Report. It is promoted by SHKSL which owns 45.09% shares in the company.</span> <span style="font-size: 12pt;">SHKSL was incorporated as Sayaji Housekeeping Services Limited on March 16, 2016 at Bengaluru. SHKSL is engaged in the business of providing services and expertise for various cleaning and housekeeping requirements as per the needs of facilities, organizations and/or business houses in India or elsewhere, and carries on the business of providing, inter alia, manpower, machines, and material connected with housekeeping and cleaning requirements.</span> <span style="font-size: 12pt;">SHKSL is promoted by Sayaji Hotel Limited, which is a listed company.</span> <span style="font-size: 12pt;">The first Barbeque Nation Restaurant was launched in 2006 by SHL, one of the promoters. They launched the first Barbeque Nation Restaurant in 2008, and subsequently acquired five Barbeque Nation Restaurants owned by SHL in 2012. They have steadily grown owned and operated Barbeque Nation Restaurant network from a single restaurant in Fiscal 2008 to 138 Barbeque Nation Restaurants in 73 cities in India and seven International Barbeque Nation Restaurants in three countries outside India as of November 30, 2019.</span> <span style="font-size: 12pt;">The Company was ranked 13th among best companies to work for in India across all categories by Economic Times “Great Places to Work” survey for 2019 conducted by Great Places to Work Institute.</span> <span style="font-size: 12pt;">For buying and more information of pre-IPO shares of Barbeque nation, please <span style="text-decoration: underline;"><strong><a href="https://unlistedzone.com/shares/buy-sell-barbeque-nation-unlisted-shares-price-today/">click here.</a></strong></span></span>
As per RBI regulation; <em><strong>The Promoters of the Bank are required to maintain a minimum of 26% of the total paid-up share capital of the Bank at all times. As part of the licensing conditions of RBI, the Bank is required to list its Equity Shares by end of year 2020. In view of the impending increase in the paid-up share capital of the Bank and the corresponding requirement of maintaining 26% at all times by the Promoters, the Promoters are required to bring in additional capital.</strong></em> So, Suryoday Small Finance Bank, has decided to issue, offer and allot on a preferential basis up to 50,00,000 ( Fifty Lakhs) equity shares of Rs. 10/- (Rupees Ten) each for cash at a price of Rs. 180 (Rupees One hundred and Eighty only) per share inclusive of a premium of Rs. 170/- (Rupees One hundred and Seventy only ) per share to the Promoters of the Bank as given hereinbelow. <table width="493"> <tbody> <tr> <td style="text-align: center;" width="64"><strong>Sr No.</strong></td> <td style="text-align: center;" width="230"><strong>Name of the Proposed Allottee</strong></td> <td style="text-align: center;" width="199"><strong>Maximum Number of shares proposed to be allotted</strong></td> </tr> <tr> <td style="text-align: center;">1</td> <td style="text-align: center;">Mr. Baskar Babu Ramachandran</td> <td style="text-align: center;">48,15,000</td> </tr> <tr> <td style="text-align: center;">2</td> <td style="text-align: center;">Mr. P S Jagdish</td> <td style="text-align: center;">1,00,000</td> </tr> <tr> <td style="text-align: center;">3</td> <td style="text-align: center;">Mr. G V Alankara</td> <td style="text-align: center;">85,000</td> </tr> </tbody> </table> <span style="text-decoration: underline; font-size: 14pt;"><strong><a href="https://unlistedzone.com/storage/knowledge-logo/SMFL_NOTICE_OF_EGM_FINAL.pdf">Link of the notification</a></strong></span>
<p><em><strong>As per the news published in ET</strong></em>, the market regulator has asked the National Stock Exchange (NSE) to divest its complete stake in its associate company Computer Age Management Systems (CAMS). It implies that NSE will have to sell the entire 1.8 crore shares it currently owns in CAMS.<br /><br />Currently, the CAMS is valued around Rs 6,000 crore implying that NSE’s stake could be valued around Rs 2,000-2,200 crore. Moreover, the CAMS is also looking for IPO wherein existing investors are looking to sell their stakes. So creating this much demand IPO and NSE stake sale may have an impact on the price of CAMS share. <br /><br />CAMS is the largest share registrar and transfer agent in the Indian markets with a market share of more than 60 percent in several segments. The company is promoted by global private equity fund Warburg Pincus and has several marquee institutions, including HDFC Bank and Faering Capital, as shareholders. Securities and Exchange Board of India has observed that NSE failed to obtain prior regulatory approval while buying a stake in CAMS during FY13-14 and hence the investment is in violation of the rules for market intermediary institutions (MIIs).</p>
<span style="font-size: 12pt;">As per filing to the exchanges on 07.02.2020, Religare Enterprise Limited, the promoter of Religare Health Insurance, has entered into the definitive agreements on February 06, 2020, with <strong>M/s. Kedaara Capital Fund II LLP</strong> and <strong>M/s. Trishikhar Ventures LLP</strong> (jointly referred to as ‘Kedaara’ ) for;</span> <span style="font-size: 12pt;"><strong>a)</strong> Sale of part of the investment in Religare Health Insurance Company Limited (‘RHICL’), a subsidiary company for a consideration aggregating to Rs 200 crores, and</span> <span style="font-size: 12pt;"><strong>b)</strong> Primary capital infusion of Rs 200 crores in RHICL by Kedaara.</span> <span style="font-size: 12pt;">This is good news for the shareholders of <strong>Religare Health Insurance</strong> that Kedaara group entity, Trishikhar Ventures LLP, a leading private equity investment firm is investing in its health insurance subsidiary - Religare Health Insurance Company Limited (“RHICL”).</span> <span style="font-size: 12pt;"><strong>Commenting on the transaction, Mr. Anuj Gulati, MD & CEO, Religare Health Insurance, said - </strong>“This transaction will enable us to increase our investment in technology, distribution and service capability. I would like to convey my sincerest appreciation to our current shareholders, the board of directors, customers, distribution partners and employees for reposing their faith in us over the years. I also warmly welcome our incoming shareholders and thank them for the belief that they have vested in us. We remain committed to building an institution that will be relevant beyond 100 years.”</span> <span style="font-size: 12pt;">Pursuant to the above transactions, the Company would have divested part of its investment constituting 6.761% of RHICL. Post consummation of the transaction, the Company will hold a 76.18% stake in RHICL.</span> <span style="font-size: 12pt;">This deal will support the growth of the health insurance business and will enable REL to become debt free after the completion of this transaction and the divestment of its lending business to the TCG Group. This will, in turn, help the company to emerge as a strong financial services company.</span> <span style="font-size: 12pt;"><strong>The deal will need approval from IRDA, as well.</strong></span>
<span style="font-size: 12pt;">Motilal Oswal Financials Services( Holding Company ) has come up with Q3 numbers for the FY19-20 and the same has been informed to the exchanges on 22.01.2020. The board has also declared a dividend of Rs.4 for FY19-20.</span><!--more--> <span style="font-size: 12pt;"><strong>A)</strong> Motilal Oswal Financials Services( Holding Company ) provides the following services through its subsidiaries:</span> <span style="font-size: 12pt;"><strong>1.</strong> Broking Services</span> <span style="font-size: 12pt;"><strong>2</strong>. Asset Management and Advisory Services</span> <span style="font-size: 12pt;"><strong>3</strong>. Fund based Services</span> <span style="font-size: 12pt;"><strong>4</strong>. Investment Banking</span> <span style="font-size: 12pt;"><strong>5</strong>. Home Finance.( Motilal Oswal Home Finance Unlisted Share)</span> <span style="font-size: 12pt;"><strong>Results Analysis</strong>( Consolidated)</span> <span style="font-size: 12pt;"><strong>(i)</strong> Consolidated revenues stood at Rs 644 Crores, +3.2% YoY in Q3FY20.</span> <span style="font-size: 12pt;"><strong>(ii)</strong> Consolidated PAT was at Rs 168 Crores in Q3FY20 vs Rs 35 Crores in last year the same period.</span> <span style="font-size: 12pt;"><strong>(iii)</strong> Consolidated revenues for 9MFY20 were at Rs. 1873Crores, +.4% YoY and consolidated PAT for 9MFY20 was at Rs 442 Crores, +213% YoY.</span> <span style="font-size: 12pt;"><b>(iv) </b><strong>Some of the key highlights for the 9MFY20 include;</strong></span> <span style="font-size: 12pt;"><strong>a)</strong> 7% YoY growth in AMC AUM.</span> <span style="font-size: 12pt;"><strong>b)</strong> 8% YoY growth in PE & RE AUM.</span> <span style="font-size: 12pt;"><strong>c)</strong> 15% YoY growth in Wealth AUM.</span> <span style="font-size: 12pt;"><strong>d)</strong> 16% YoY growth in Distribution business AUM.</span> <span style="font-size: 12pt;"><strong>e)</strong> Positive net flows in MF for consecutive quarters amid moderate industry flows, Accelerated pace of new client addition in the broking business.</span> <span style="font-size: 12pt;"><strong>f)</strong> Rating upgrade from CRISIL for MOH FL to AA- (Stable) from A+ earlier and MOHFL's NPA pool sale to ARC.</span> <span style="font-size: 12pt;"><strong>B)</strong> The Motilal Oswal Financial Services holds 97.94% shares in the Home Finance company( <strong>Motilal Oswal Home Finance</strong>).</span> <span style="font-size: 12pt;">Let us check how <strong>Home Finance</strong> is doing the business and how well it has performed this quarter?</span> <span style="font-size: 12pt;"><strong>(i)</strong> Motilal Oswal Home Finance (MOH FL) reported a profit of Rs 21.4 Crores in 9MFY20 and Rs 16.1 in Q3FY20.</span> <span style="font-size: 12pt;"><strong>(ii)</strong> Margins have improved to 5.2% in 9MFY20, on account of improvement in yield and lower cost of funds.</span> <span style="font-size: 12pt;"><strong>(iii)</strong> The loan book stood at <strong>Rs 3800 Crores as of 9MFY20</strong>. Disbursements in 9MFY20 were Rs 146 Crores, new book sourced from April'18 validates the new credit policy with 11 cases in NPA out of-4500 loan cases.</span> <span style="font-size: 12pt;"><strong>(iv)</strong> CRISIL has upgraded MOHFL's rating to AA- (stable outlook) from earlier A+ (stable). This will further benefit MOH FL in bringing down the cost of funds and improve spreads.</span> <span style="font-size: 12pt;"><strong>(v) </strong>Strong support from parents continues with total capital infusion to Rs 850 Crores.</span> <span style="font-size: 12pt;"><strong>UnlistedZone Take</strong></span> <span style="font-size: 12pt;">Overall, we can say the Home finance business is doing really good and started showing a sign of marked improvement in loan disbursement and profitability. The more detailed about Book Value and other valuation parameters are not generally available in quarterly results, however, the same will be studied and shared once the annual results or annual report is filed.</span>
NCL Alltek & Seccolor has changed its name to NCL Buildtek to reflect its range of building materials including windows, doors, putties, paints and building blocks to tiling solutions. K. Madhu(<strong> in the below pic</strong>), Managing Director, NCL Builtek said that the new identity is designed to help clients visualize a one-stop solution for all their building material needs. “As NCL manufactures the widest range of building materials, NCL Buildtek will more accurately reflect the present, and ever-expanding building material offerings, while maintaining their current image of providing top-quality products and accompanying services,” he further added. <figure id="attachment_35080" class="wp-caption alignleft" aria-describedby="caption-attachment-35080"><img class="wp-image-35080 size-medium" src="https://wfmmedia.com/wp-content/uploads/2020/01/NCL-300x217.jpg" sizes="(max-width: 300px) 100vw, 300px" srcset="https://wfmmedia.com/wp-content/uploads/2020/01/NCL-300x217.jpg 300w, https://wfmmedia.com/wp-content/uploads/2020/01/NCL.jpg 500w" alt="K. Madhu Managing Director NCL Buildtek" width="300" height="217" /><figcaption id="caption-attachment-35080" class="wp-caption-text"></figcaption></figure> The re-brand and name change have been designed to align all business verticals – Walls, Coatings, Windoors & Services, under one recognizable brand name – NCL, across the nation. <em><strong>NCL Builtek is planning to set up a steel door unit in Sangareddy district, with an investment of over INR 10 crore.</strong></em> <em><strong>The company is also setting up an AAC (autoclaved aerated concrete) block manufacturing unit in Nellore with the investment of INR 80 crore</strong></em>. It will be the biggest investment from the company to date and will be the second such but larger facility of the company. The Nellore plant can produce about 5 lakh cubic meters of AAC blocks per year, while the capacity of the first plant near Vijayawada is about 2.2 lakh cubic meters. As the company concluded the rebranding of their current products Alltek, Seccolor with NCL, the existing products and all subsequent new products, will bear the new NCL Buildtek Ltd name as the trade name. The company has also moved its head office to NCL Pearl, Secunderabad.
HDFC ERGO Health erstwhile Apollo Munich Health Insurance will merge with HDFC ERGO through a share swap deal. The board of director of HDFC ERGO and HDFC ERGO Health at its meeting on January 15, approved a scheme of arrangement and amalgamation between the two entities, HDFC Ltd said in a regulatory filing. The scheme envisages amalgamation and will lead to the dissolution of HDFC Ergo Health without winding up, it said. <em><strong>"The board of directors of HDFC ERGO and HDFC ERGO Health at the meeting also approved the share exchange ratio of 100:385 that is for every 385 shares of Rs 10 each of held in HDFC ERGO Health as on the record date, 100 shares of Rs 10 each of HDFC ERGO would be allocated," the company said in the filing.</strong></em> Post completion of the said merger, HDFC Limited will hold a 50.58 percent stake in HDFC ERGO, it said. Earlier this month, HDFC ERGO got regulatory approvals for acquiring a majority shareholding in Apollo Munich Health Insurance Co Ltd. <span style="font-size: 14pt;"><strong>Source: Business Standard</strong></span>
<p><strong>(i)</strong> HDB Financials is a non-deposit NBFC offering a wide range of loans and assets finance products to individuals, emerging businesses, and micro-enterprise. As of 31.12.2019, the <strong>HDFC Bank</strong> holds 95.3% stakes in HDB Financials.</p> <!--more--> <p><strong>(ii)</strong> HDFC Security is the leading retail broking firms in India with ~8 Lakh active clients and the second-biggest broker after Zerodha. As of 31.12.2019, the <strong>HDFC Bank</strong> holds 97.3% stakes in HDFC Security. Today, they have come up with Q3FY20 results of HDB Financials and HDFC Security, along with their promoter's HDFC Bank. Let us see how both Unlisted shares have performed? <br /><br /><span style="font-size: 14pt;"><strong>HDB Financials Unlisted Share:</strong></span> <br /><br />1. Total AUM as on 31.03.2019 was ~Rs. 55000 Crores which has increased to ~Rs. 59000 Crores in the first 9M of FY20. [ Positive Growth ] <br /><br />2. For the first 9M of FY20, the interest income grew by 22.2% to Rs. 3034 Crores as against Rs. 2483 in the first 9M of FY19. [ Positive Growth ] <br /><br />3. In the first 9MFY20, PAT stands at Rs.770 Crores as compared to Rs. 820 Crores in the previous 9M of FY19. [ Negative Growth ] <br /><br /><span style="font-size: 14pt;"><strong>HDFC Security Unlisted Share:</strong></span> <br /><br />1. For the first 9M of FY20, the total income was Rs. 584 Crores as against Rs. 565 Crores, in the first 9M of FY19. [ Positive Growth ] <br /><br />2. PAT for the nine months of FY20 was Rs. 250 Crores as against Rs. 223 Crores for the first 9M of FY19. [ Positive Growth ].</p>
Mohan Meakin, the maker of the popular brand of rum "Old Monk", has submitted its papers with the Metropolitan Stock Exchange (MSE) to re-list on the exchanges. "In the next two to three months, the procedures towards re-listing will be complete." The 163-year-old company looks to return to the capital markets 16 years after it had de-listed its equity shares from the Delhi and Calcutta stock exchanges. <div class="hide-moblie mid-arti-ad"> <div id="Moneycontrol_Mobile_WAP/MC_WAP_News/MC_WAP_News_Internal_OutStream"> The firm, which is the oldest liquor brewing company in India, had a paid-up capital of Rs 4.25 crore, reserve and reserves and surpluses of Rs 27.01 crore at the time of de-listing in 2003. In FY 2019, the company's net profit stood at Rs 33 crore and total debt was at Rs 11 crore as compared to about Rs 30 crore in the previous year. The company's net worth in FY 19 was at Rs 92 crore, higher than Rs 58 crore seen in the previous year. The company's "Old Monk" brand has seen a loyal customer base, and although the liquor business was impacted by a ban from a few state governments in the last few years, the consumption of liquor has increased significantly. In FY19, the alcohol segment grew 46 percent. Old Monk contributes nearly 80 percent of the total sales for Mohan Meakin and in FY19 the contribution from Old Monk itself would be approximately Rs 758.3 crore. <span style="font-size: 14pt;"><strong>Source: Moneycontrol.</strong></span> </div> </div>
As per the news published in livemint, the Govt. is planning to introduce a provision in the Company's Act 2013 to make unlisted companies give their financial results on a quarterly or Half-yearly basis, similar to listed companies, in place of yearly disclosure. Unlisted companies mostly provide annual financial data in the month of Oct or Nov. This means, the annual results ending in March, becomes available to investors via Ministry of Corporate Affairs, after 6 Months. <span style="font-size: 14pt;"><strong>UnlistedZone Take:</strong></span> <strong>1</strong>. All companies should not fall into this provision, as it will increase unnecessary compliance costs of filling & auditing of financials data, etc, especially for smaller companies. So, turnover or PAT based criterion must be adopted to select which company has to comply with this provision and should not be applied to all in unison. <strong>2</strong>. This is a good step considering, today, we get to know about the financials of the companies once in a year. So, if this provision comes into the picture, then we can gauze company performance on a 3-Months or 6-Months basis, which will give more insight into the business of the company. <strong>3</strong>. Good for unlisted shares investors as they will come in par with listed companies shareholders, in terms of frequency of disclosures.
<strong>Hero-Fin Corp( HFCL )</strong> is looking to raise ~Rs.1000 Crores by a way of preferential allotment through a private placement at Rs.820 per share to following investors. The company is issuing total 1,31,09,753 Equity shares.<!--more--> <strong>(i)</strong> Hero MotoCorp Limited = 53,99,319 Equity Shares <strong>(ii)</strong> Hero InvestCorp Private Limited = 1,46,342 Equity Shares <strong>(iii)</strong> Bahadur Chand Investments Private Limited = 26,82,927 Equity Shares <strong>(iv)</strong> RK Munjal and Sons Trust = 7,90,394 Equity Shares <strong>(v)</strong> Pawan Munjal Family Trust = 7,90,394 Equity Shares <strong>(vi)</strong> Survam Trust = 2,43,905 Equity Shares <strong>(vii)</strong> Otter Limited = 8,24,405 Equity Shares <strong>(viii)</strong> Link Investment Trust = 12,544 Equity Shares <strong>(ix)</strong> Credit Suisse (Singapore) Limited = 1,70,732 Equity Shares <strong>(x)</strong> APIS Growth II (HIBISCUS) PTE. LTD. = 20,48,781 Equity Shares The valuation report is prepared by CMA Rajendra Kumar Joshi and the date of valuation is 30.11.2019. HFCL is a Non-Banking Finance Company (“NBFC”) engaged in providing financial services in India. The Company was incorporated in 1991 and is based in New Delhi, India. Hero MotoCorp Limited (“HMCL”) holds 41.18% stake in HFCL. The Company provides two-wheeler financing and a bouquet of other financial products including used car financing, personal loan, inventory funding, loan against property, loans to Small and Medium Enterprises (“SMEs”) and emerging corporates. <span style="font-size: 14pt;"><strong>UnlistedZone Take:</strong></span> The company has shown tremendous growth in the last 5 years. In 2015-16, the company had revenue of Rs.772 Crores which has reached Rs.2492 Crores in FY18-19. More detail can be accessed at<span style="text-decoration: underline; font-size: 14pt;"> <strong><a href="https://unlistedzone.com/shares/hero-fincorp-limited-share-price-buy-sell-unlisted-shares-of-hero-fincorp/">Link</a></strong></span> Price to Book multiple is the tool to gauze the valuation of financial companies. <strong>Let us see how Hero-Fin Corp fairs up?</strong> Book Value ( FY18-19 ) = 321 per share. On the basis of the book value and price of Rs.820 per share( <strong>as per valuation report</strong> ), the P/B stands at 2.55x. We are expecting the P/B of 350 in FY19-20, on that basis, the P/B stands at 2.34x. The stock currently is available in the unlisted market at Rs. 1025 per share. So on that basis, in the unlisted market, the share is available at P/B multiple of 3.19x, which is fair considering the growth shown by the company.
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