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<p>HDFC Bank Ltd, India's largest private sector lender, is gearing up for a strategic shift as it contemplates selling a portion of its shareholding in subsidiary HDB Financial Services, according to sources familiar with the matter. The move is driven by the bank's ambition to venture into business lines that align with those of its subsidiary, a decision prompted by the anticipation of potential overlaps in the coming years.</p> <p>The person, aware of the matter, highlighted that HDB Financial Services is bound by listing requirements scheduled for the calendar year 2025. Currently held by HDFC Bank as a financial investment, the subsidiary's shares will be monetized gradually over time. However, it's crucial to note that the bank has not yet finalized its strategy regarding the timeline or specifics of the share sale.</p> <p>This strategic maneuver by HDFC Bank reflects a forward-thinking approach to navigate the evolving financial landscape and position itself for future growth. By considering the sale of its shareholding in HDB Financial Services, the bank is not only complying with regulatory obligations but also proactively addressing potential business overlaps that may arise due to its own expansion plans in similar sectors.</p> <p>The financial services industry is witnessing rapid transformations, driven by technological advancements and changing consumer preferences. HDFC Bank's move to explore new business lines aligns with the broader trend of financial institutions adapting to stay competitive and relevant in a dynamic market. The decision to divest from HDB Financial Services can be seen as a strategic realignment of resources, allowing the bank to focus on areas where it foresees significant growth potential.</p> <p>In conclusion, HDFC Bank's decision to sell a portion of its shareholding in HDB Financial Services underscores its commitment to strategic foresight and adaptability. As the financial sector continues to undergo transformative changes, this move positions HDFC Bank to not only meet regulatory requirements but also proactively shape its future in line with emerging market dynamics.</p>
<p>PharmEasy, operating under API Holdings, experienced a notable upswing in operating revenue, exceeding INR 6,000 Cr in the fiscal year concluding on March 31, 2023. The Mumbai-based unicorn disclosed an operating revenue of INR 6,643.9 Cr, denoting a 16% surge from the previous fiscal year.</p> <p>Founded in 2015 by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Siddharth Shah, and Hardik Dedhia, PharmEasy specializes in online sales of medicines and diagnostic tests through its subsidiaries.</p> <p>In FY23, the startup's revenue from the sales of pharmaceutical and cosmetic products reached INR 5,925.3 Cr, while diagnostic and other services contributed INR 701.2 Cr. This signifies substantial growth compared to INR 5,229.9 Cr and INR 417.8 Cr, respectively, in FY22.</p> <p>The total revenue, encompassing other income, reached INR 6,699.7 Cr, demonstrating a 15% increase from INR 5,781 Cr in the preceding fiscal year. However, the net loss surged by over 31% to INR 5,211.7 Cr in FY23, attributed to an impairment loss of INR 2,921.9 Cr during the year. Excluding this loss, PharmEasy's net loss diminished by 16% to INR 2,289.8 Cr in FY23.</p> <p>Scrutinizing expenditures, the startup managed a modest 6% increase in total spending, reaching INR 8,974 Cr from INR 8,491.5 Cr in FY22. Notably, the procurement cost constituted approximately 63% of total expenses, escalating by 12% to INR 5,730.8 Cr in FY23. Employee benefit expenses saw a 12% reduction to INR 1,283.3 Cr, reflecting cost-cutting measures, including layoffs in 2022 and 2023.</p> <p>PharmEasy also reduced marketing costs by over 50%, down to INR 235 Cr in FY23 from INR 494 Cr in FY22. Confronting a cash crunch in the previous year, the company successfully raised INR 3,500 Cr through a rights issue, intending to settle a portion of its debt.</p> <p>Despite deferring its IPO plans in 2022, PharmEasy has effectively navigated financial challenges and secured substantial capital, totaling over $1 Bn to date. Competing with Tata 1mg, MediBuddy, and Practo in the online pharmacy sector, PharmEasy appointed Yatharth Bhargova as the new Group CFO of API Holdings Private Limited amidst strategic financial maneuvers.</p>
<p><strong>Introduction: Unraveling the Modi Family Feud</strong> <br /><br />The KK Modi Group, one of India's oldest and most established business families, is currently embroiled in a high-stakes legal battle. Central to this dispute is the division of the family's assets, worth approximately Rs 11,000 crore (USD 1.32 billion), following the demise of patriarch KK Modi in 2019. The key players in this family saga include former IPL commissioner Lalit Modi and his mother Bina Modi.</p> <p><strong>The Supreme Court’s Role and the Future of Godfrey Phillips</strong> <br /><br />After numerous adjournments, the Supreme Court of India has set a tentative date for the final hearing involving Lalit and Bina Modi. This decision is anticipated to be a landmark judgment, potentially influencing future arbitration cases. At the heart of the dispute lies the control of Godfrey Phillips, India's oldest cigarette maker and the producer of Marlboro, one of the world's largest selling cigarette brands.</p> <p><strong>Lalit Modi’s Legal Maneuvers and Family Dynamics</strong> <br /><br />Lalit Modi, currently residing in London and unable to travel to India, has been actively involved in the legal proceedings. His request for arbitration in Singapore and subsequent legal actions in India depict a complex web of family and business interests. The potential outcomes of this legal battle could necessitate significant changes in the ownership and control of Godfrey Phillips.</p> <p><strong>Potential Sale of Godfrey Phillips: A Strategic Move?</strong> <br /><br />With the KK Modi Family Trust holding a substantial stake in Godfrey Phillips, experts speculate that the company may be put up for sale to resolve the family dispute. This move could attract significant attention from major players in the tobacco industry, including Philip Morris, which already holds a 25% stake in the company.</p> <p><strong>Financial Implications for the Modi Family Members</strong> <br /><br />The proposed settlement plan outlines substantial financial disbursements among the family members, with Lalit Modi and his children, as well as other family members, set to receive considerable amounts. This financial redistribution is closely tied to the future of Godfrey Phillips and the potential sale of its stakes.</p> <p><strong>Bina Modi’s Strengthening Grip over Godfrey Phillips</strong> <br /><br />As the current executive director and chairperson, Bina Modi's influence over Godfrey Phillips is significant. Recent moves, such as the company's decision to acquire a 5% stake through its employee stock option scheme, are seen as efforts to consolidate Bina Modi’s control over the company. This maneuver could have lasting implications on the company's governance and future strategic direction.</p> <p><strong>Conclusion: An Uncertain Horizon<br /><br /></strong> The KK Modi family dispute, with its complex blend of legal, familial, and business elements, stands at a critical juncture. The impending Supreme Court judgment and the consequent decisions regarding Godfrey Phillips will not only reshape the Modi family’s dynamics but could also set a precedent in the corporate and legal landscape of India. Stakeholders, industry observers, and legal experts are keenly watching as this high-profile saga unfolds, marking a defining moment in the annals of Indian business history.</p>
<p>Sterlite Power, a key player in the energy sector, has demonstrated sustained success by securing new orders totaling approximately INR 1,400 crores for its Global Products and Services (GPS) business in the third quarter of FY’24. This accomplishment brings the cumulative order acquisition for the initial nine months of FY24 to an impressive INR 4,700 crores. The orders encompass high-performance power conductors, optical ground wire (OPGW), and power cables from both domestic and international markets. </p> <p>Functioning as a substantial contributor to the grid, Sterlite Power has leveraged its proficiency in conductors to propel clean energy solutions forward. The escalating demand for conductors, both within the country and globally, underscores the dedication of stakeholders to achieving net-zero targets and transitioning towards sustainable energy. The company is fortifying its global presence with strategic orders from Latin America and Africa to enhance transmission networks.</p> <p>The Power Cable segment remains positive, propelled by essential infrastructure projects such as renewable power generation, T&D infrastructure expansion, and metro railways. Sterlite Power’s recent orders for metro, data center, and power projects mirror the growing demand for cables in diverse infrastructure developments. The company is set to supply 110kV cables to Mumbai Metro, 220kV cables to a critical renewable project in Rajasthan, and cables for energy-intensive data centers in Pune, ensuring uninterrupted power supply for these crucial services. Furthermore, Sterlite Power has secured export orders in the subcontinent and acquired EHV cable orders in the domestic market.</p> <p>Manish Agarwal, CEO of Sterlite Power’s Global Products & Services business, expressed contentment with the increasing momentum in supply orders for conductors, OPGW, and power cables. He highlighted that these order successes underscore the rising demand for Sterlite Power’s product offerings in both Indian and export markets. With an intensified focus on decarbonization, Sterlite Power’s array of high-performance conductors, HV and EHV cables, and specialized EPC services for cable transmission continue to play a pivotal role in the energy transition journey.</p>
<p>Sojo Manufacturing Services (AP) Pvt Ltd, a subsidiary of indigenous company Lava International, announced its government-approved application for the production-linked incentive (PLI) scheme for IT hardware on a Wednesday.</p> <p>The company plans to manufacture various consumer electronic products, including smartphones, feature phones, accessories, tablets, laptops, and other IT hardware for Lava International, as well as for other Indian and global electronics brands. Dr. Rishi Bhatnagar, President of Lava International, expressed confidence that the government's support through the PLI scheme would significantly contribute to Lava's growth in the industry.</p> <p>As part of the PLI 2.0 scheme for IT hardware, Sojo joins other companies in bolstering domestic production. The company, in an official statement, highlighted its strategic position alongside industry leaders to play a pivotal role in enhancing the global competitiveness of the Indian IT hardware sector.</p> <p>The PLI 2.0 initiative for IT hardware, with a substantial budget of Rs. 17,000 crore, is designed to stimulate employment and create a competitive environment for IT hardware production within India.</p> <p>The approval of Sojo Manufacturing Services (AP) Pvt Ltd's application for the PLI scheme for IT hardware reflects a strategic move by Lava International to strengthen its position in the consumer electronics market. By expanding its manufacturing capabilities through Sojo, Lava aims to produce a wide range of electronic products, including smartphones, tablets, and laptops, not only for its own brand but also for other Indian and global electronics companies.</p>
<p><strong>A) What are PreIPO shares?</strong></p> <p>Pre-IPO shares refer to shares of a company that are available for private trading before the company goes public through an Initial Public Offering (IPO). These shares are typically offered to a select group of investors, such as venture capitalists, private equity firms, or institutional investors, who have the opportunity to invest in the company before it becomes publicly traded on stock exchanges. However, this opportunity is now available to common investors with the help of many platforms such as ours i.e. UnlistedZone which work in unlisted market, offering trading services in unlisted market. </p> <p>Investing in pre-IPO shares can be appealing for investors seeking early entry into potentially high-growth companies. It allows them to participate in the company's success and potential appreciation in value before the general public has the chance. However, pre-IPO investments come with risks, as the company's performance may not meet expectations, and liquidity can be limited compared to publicly traded stocks.</p> <p><strong>B) How to buy and sell PreIPO shares?</strong></p> <p>You can buy and sell unlisted shares with the help of UnlistedZone. UnlistedZone offers a seamless experience for buying or selling unlisted shares through our platform. Here are the detailed steps for both our website and mobile app:</p> <p><strong> 1. Website:</strong></p> <p>a. Visit our official website UnlistedZone and navigate to the "All Unlisted Shares" section or use the search bar on the Home Page.</p> <p>b. Choose the specific unlisted share you are interested in.</p> <p>c. Scroll down and click on the designated "Buy" or "Sell" button.</p> <p>d. Complete the prompted form with your details and submit it. Our dedicated team will promptly reach out to you to facilitate the transaction.</p> <p><strong> 2. Mobile App</strong></p> <p>a. Install our app, UnlistedZone, available on the Google Play Store or iOS.</p> <p>b. Register and log in to your account.</p> <p>c. Navigate to 'More' and Upload your CMR copy for verification.</p> <p>d. Click on "Check Prices" to find the specific company's unlisted shares. You can then proceed to buy or sell.</p> <p>e. Select the 'Buy' or 'Sell' option based on your preference.</p> <p>f. Complete the displayed form with essential details and click "Place Order." Our team at UnlistedZone will initiate contact to efficiently finalize the deal.</p> <p>We are committed to providing a secure and convenient platform for your unlisted share transactions. If you have any inquiries or require assistance, feel free to reach out to our dedicated support team.</p> <p><br /><strong>C) What are the risks in pre-IPO shares?</strong></p> <p>The primary risk associated with investing in unlisted shares is the challenge of <strong>liquidity</strong>. When the need arises to divest your holdings, encountering difficulties in locating suitable buyers can be a significant concern. Should a company exhibit lackluster fundamental performance in the unlisted market, it is likely to witness a depreciation in the value of its shares, further complicating the task of finding a willing buyer. Conversely, if the company demonstrates robust operational performance, liquidity concerns may be mitigated.</p> <p>Another notable risk pertains to dilution resulting from a <strong>postponed initial public offering (IPO)</strong>. The majority of investors in the unlisted market engage with the anticipation of capitalizing on a potential IPO, aiming to sell their investments at a premium. However, in the event of a delayed IPO, the process of divesting unlisted shares becomes protracted, leading to a decrease in demand within the unlisted market and subsequently rendering the selling process more challenging.</p> <p>Furthermore, the absence of a regulatory framework poses a considerable risk. Currently, the Securities and Exchange Board of India (SEBI) doesn't have specific regulations governing the unlisted market. Consequently, investors may find themselves acquiring unlisted shares at a price higher than their eventual valuation in the IPO, resulting in financial losses on their investment. </p> <p>In addition to the aforementioned risks, <strong>market volatility and macroeconomic factors</strong> can introduce uncertainties. Unlisted shares may be more susceptible to fluctuations in market conditions, and unforeseen economic events can impact the valuation of these shares. Additionally, the lack of transparency in financial reporting for unlisted companies can pose challenges in assessing their true financial health, exposing investors to potential inaccuracies and misjudgments.</p> <p><strong>D) How UnlistedZone help to raise funds via PreIPO or SMEIPO?<br /><br />1. Raise Funds via Pre-IPO<br /><br /></strong>UnlistedZone plays a pivotal role in assisting companies to secure funds through PreIPO, employing a strategic approach to facilitate successful fundraising endeavors. Central to this process is the meticulous crafting of a compelling pitch deck, a vital tool that articulates a company's value proposition, growth potential, and financial outlook.</p> <p>The platform acts as a bridge, seamlessly connecting companies with potential investors who share a keen interest in PreIPO opportunities. Through this facilitated connection, investors thoroughly evaluate the presented opportunities, gauging the company's viability and growth prospects.</p> <p>UnlistedZone's distinctive approach extends to facilitating investments via PreIPO or as anchor investors in Small and Medium Enterprises (SME), Initial Public Offerings (IPOs) within the unlisted market. This dual avenue allows companies to attract financial support either before entering the public market or as a cornerstone investment in the SME IPO process.</p> <p>By streamlining the interaction between companies seeking capital and discerning investors, UnlistedZone contributes to the growth and financial success of businesses, fostering a mutually beneficial environment in the dynamic landscape of PreIPO fundraising within the unlisted market.<br /><br />UnlistedZone plays a crucial role in assisting companies in raising funds, particularly through the unlisted shares market. The process typically involves the following steps:</p> <p><strong>a) Facilitating Investments in Pre-IPO Shares</strong>: UnlistedZone specializes in dealing with Pre-IPO shares, which are equity shares of a company that are traded before the company goes public. By offering these shares to investors, UnlistedZone helps companies raise capital before an initial public offering (IPO). This pre-IPO trading provides an opportunity for the companies to raise funds and for investors to get early access to potentially lucrative investments.</p> <p><strong>b) Providing a Platform for Trading Unlisted Shares</strong>: UnlistedZone operates as a marketplace where unlisted shares of various companies can be bought and sold. This trading platform increases the visibility of these companies among potential investors and facilitates the process of buying and selling shares, thus aiding in capital inflow for the companies.</p> <p><strong>c) Valuation and Pricing Guidance</strong>: UnlistedZone helps in determining the fair value of unlisted shares. This is crucial for companies looking to raise funds, as it ensures that the shares are priced appropriately, reflecting the true value of the company. Accurate valuation attracts more investors and ensures that the company can raise the required amount of funds.</p> <p><strong>d) Connecting Companies with Potential Investors</strong>: Through its platform, UnlistedZone connects companies with a wide network of potential investors, including retail investors, high-net-worth individuals, and institutional investors. This broad reach helps companies access a diverse pool of funding sources.</p> <p><strong>e) Advisory and Consultation Services</strong>: UnlistedZone also offers advisory services to companies, guiding them through the process of raising funds via unlisted shares. This includes advice on regulatory requirements, documentation, and strategies to attract investors.<br /><br /><strong>2. Raise Funds via SME IPO<br /><br /></strong></p> <p><strong>a) Assessment and Advisory</strong>: Initially, UnlistedZone can help assess whether a company is ready for an IPO and advise on the steps needed to meet the eligibility criteria for listing on an SME exchange. This includes guidance on financial restructuring, compliance, and corporate governance practices.</p> <p><strong>b) Preparation for IPO</strong>: This involves assisting the company in preparing for the IPO, including preparing a business plan, and drafting the necessary Pitch Deck to attract investors.</p> <p><strong>c) Regulatory Compliance and Filings</strong>: Ensuring compliance with the regulations set by the Securities and Exchange Board of India (SEBI) and other relevant authorities is crucial. UnlistedZone can guide companies through the regulatory landscape, helping them with filings and adherence to necessary guidelines.</p> <p><strong>d) Identifying and Collaborating with Intermediaries</strong>: UnlistedZone helps in identifying and collaborating with merchant bankers, underwriters, legal advisors, and other intermediaries who play a critical role in the IPO process.</p> <p><strong>e) Marketing and Investor Outreach</strong>: Raising awareness and generating interest among potential investors is key to a successful IPO. We at UnlistedZone leverage our networks to market the IPO effectively and reach a wide pool of investors, including retail, high-net-worth individuals, and institutional investors.</p> <p><strong>f) Pricing Strategy</strong>: Advising on the pricing of the IPO is another critical area. UnlistedZone helps in determining an optimal price band that balances the company's valuation expectations with market demand.</p> <p><strong>g) Ongoing Support and Post-IPO Services</strong>: Post-IPO, companies need support with investor relations, compliance with continuous disclosure requirements, and corporate governance. UnlistedZone provides ongoing support to ensure these companies transition smoothly into being publicly-traded entities.<br /><br /></p> <p>🌟 <strong>Are You a Company Owner Looking to Propel Your Business to New Heights?</strong></p> <p>If you're considering a dynamic shift in your business growth trajectory and are exploring avenues to raise funds, we're here to guide you through the journey. Whether it's through the excitement of an SME IPO or the strategic move of listing your unlisted shares, our expertise is at your service. </p> <p><a href="https://unlistedzone.com/raise-funding">https://unlistedzone.com/raise-funding</a></p>
<p>Malaysia's sovereign wealth fund, Khazanah Nasional Berhad, is reportedly engaged in discussions to lead a fundraising round worth $400 million for Oyo Hotels. The Indian hotel-booking company, backed by SoftBank Group Corp., intends to utilize the funds for expansion and to reduce its debts. Avendus Capital Pvt. is said to be assisting in the fundraising process.</p> <p>Khazanah Nasional Berhad's involvement aligns with its growing investments in India, covering various sectors such as logistics (Xpressbees) and fast food (Wow! Momos).</p> <p>The discussions with Khazanah are not yet finalized, and the fund may choose not to proceed with the investment. We have yet to receive responses from Khazanah Nasional Berhad, Oyo, and Avendus Capital Pvt. In the meantime, Oyo is exploring alternative funding options with other potential investors.</p> <p>For the fiscal year ending in March 2023, Oyo reported a net loss of Rs 1,300 crore. Despite facing setbacks, the company, which was founded by Ritesh Agarwal, made a second attempt at an IPO in March and adjusted its fundraising target. Oyo, valued at approximately $10 billion, has not yet confirmed a specific date for its IPO, despite witnessing positive developments in the post-pandemic travel industry.</p>
<p>Cochin International Airport Limited (CIAL) has unveiled plans for premium flight operations to Thailand’s Suvarnabhumi Airport (BKK) by Thai Airways, scheduled to commence on March 31, 2024. This strategic addition, incorporated into CIAL’s 2024 Summer Schedule, is poised to elevate Kochi - Bangkok connectivity to 10 flights per week.</p> <p>Presently, CIAL manages daily Air Asia flights to Don Mueang International Airport (DMK), Bangkok. The forthcoming Thai Airways service will operate three weekly flights departing from Bangkok on Tuesday, Thursday, and Saturday nights, arriving in Kochi shortly after midnight. Departing at 21:40, TG347 is expected to touch down in Kochi at 00:35 the next day, with the return flight, TG348, departing Kochi at 01:40 every Wednesday, Friday, and Sunday, and reaching Bangkok (BKK) at 07:35.</p> <p>This strategic route reinforcement solidifies CIAL’s position as a pivotal hub for international travel, not only facilitating direct flights to Thailand but also enhancing the overall travel experience. Managing Director S. Suhas has underscored the significance of Thai Airways' premium service, emphasizing CIAL’s dedication to providing diverse and convenient travel options.</p> <p>In terms of expansion, CIAL has outlined plans to introduce new routes, augmenting both international and domestic air travel. In addition to global initiatives, the airport is gearing up to launch services to Kannur, Mysore, Trichy, and Tirupati by the end of January through Alliance Air. This comprehensive expansion strategy underscores CIAL’s commitment to improving regional and global air travel accessibility.</p> <p>Insights and analysis suggest that CIAL's focus on expanding international connectivity aligns with the growing demand for diverse travel options. The introduction of premium services by Thai Airways not only enhances passenger experience but also strengthens CIAL's competitiveness as a regional aviation hub, attracting travelers and bolstering economic ties between Kochi and Bangkok.</p>
<p>“Current market conditions and regulatory landscapes for fintech companies, especially in lending, have necessitated a more grounded approach,” believes Umesh Chandra Paliwal, cofounder and CEO of UnlistedZone.<br /><br /><a href="https://inc42.com/features/a-tale-of-two-drhps-decoding-ipo-bound-mobikwiks-business-strategy-shift-from-2021-to-2024/"><strong>Read the Full Article Here</strong></a></p>
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