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<div class="gmail_default">Hero Fincorp, the leading non banking finance company (NBFC), has returned to black as it announced its earnings for the period ended on December 31, 2021. The financial services and lending company reported a profit after tax (PAT) of Rs 133.34 crore in the December 2021 quarter as against a net loss of Rs 196.45 crore in the corresponding period previous fiscal.</div> <div class="gmail_default"><img class="wp-image-23788 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/Hero-fin-corp-1.png" alt="hero-fin-corp" width="100%" /> Incorporated in 1992 as Hero Honda Finlease Limited, Hero Fincorp changed its name after the 'Hero Honda' was completely owned by Hero Motocorp after the exit of Honda Motor Company from the joint venture of the two. Currently, Hero Motocorp owns more than 41 percent stake in Hero Fincorp. Hero Fincorp is engaged in the business of consumer finance and commercial lending. Its wholly owned subsidiary - Hero Housing Finance Limited - is engaged in the business of providing housing loans. <br /><br />The company has been rated as AA+ and stable by rating agencies such as CRISIL and ICRA. Consumer financing includes financing Hero MotoCorp two wheelers, loyalty customer loans (top up loans for existing customers) and providing loans against property. It is a captive finance company of Hero MotoCorp, India's largest two wheeler vehicle manufacturer. Shares of Hero Fincorp are trading at Rs 1,050 in the pre-IPO market and the scrip reached an all time high of Rs 1,100 a few months back. <br /><br />The tepid sentiment of over NBFCs are impacting the counter but the company is a pure steal at current prices, thanks to its sound balance sheet and robust parentage. The commercial lending side provides Indian corporates with a wide portfolio of financing products which include working capital loans, machine loans among others. <br /><br />In 2014, it ventured into loans against property, loans for small and medium enterprises and commercial loans. Hero Motocorp's NBFC arm reported a marginal rise of 7.5 percent in the total income from operations to Rs 1,151.53 crore in Q3 FY22 from Rs 1,070.44 crore in Q3 FY21. In the financial year 2020-21, Hero Fincorp became India's top two-wheeler financing company with more than 50 lakh customers and a loan book of close to 20,000 crore. The company has an employee strength of more than 7,500 headcounts. <br /><br />At present, the company has close to 2000 retail financing touch-points across Hero MotoCorp's network, and have partnered with over 2000 satisfied corporate clients. The company marks its presence at more than 1,000 dealerships spread across 1,900 cities, towns and villages. Going forward, it plans to continuously expand our offerings and geographic presence, whilst offering class leading financial services to all sections of our society. On an operations basis, the company reported a positive EBIT of Rs 180.44 crore in the given quarter, which was on the negative side in the same quarter previous year. <br /><br />The company reported an negative operating income of Rs 261.99 crore in the December 2020 quarter. In 2020, the company launched its instant loan mobile app named 'SimplyCash' and entered the instant cash loan segment. Millennials across 90 cities in India could use the app and avail instant cash loans as per their need. Thanks to positive bottomline and robust topline, the earning per share of the company, on both basic and diluted basis, jumped to 10.5, which was around -16 during the comparison period. <br /><br />Net worth of the company increased more than 13 percent to Rs 3,946.30 crore from Rs 3,480.12 crore during the period. Also, debt to equity ratio of the company improved marginally to 4.7 from 4.76 earlier. For the financial year ended on March 31, 2021, Hero Fincorp reported a net profit of Rs 70.62 crore with a total income from operations at Rs 4,091.64 crore. It reported an EPS of little less than 6 during FY 2020-21. More about Hero Housing Finance Company's wholly owned subsidiary, Hero Housing Finance has shown a robust growth in the last few years. In the first year of its operations, FY 2018-19, the company disbursed loans worth Rs 556.75 crore to the customers. Hero Fincorp had invested Rs 200 crore in Hero Housing Finance by subscribing 20,00,00,000 equity shares of face value of Rs 10 each on the rights basis.</div>
<p>Hero Moto-Corp Board of Directors, in its meeting held on 24th January 2022, has approved an investment of up to INR 700 crore in one or more tranches, in Hero FinCorp Limited (HFCL). The investment is subject to the execution of definitive documents and completion of certain conditions customary to a transaction of this nature.</p> <h4><strong>HFCL (Hero Fin Corp Limited)</strong></h4> <p><img class="wp-image-23788 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/Hero-fin-corp-1.png" alt="hero-fin-corp" width="100%" /> Hero FinCorp Ltd. primarily deals in financing retail and corporate customers through products including two-wheeler financing, term loans, working capital loans, loan against property, bill discounting, leasing, etc. Turnover for the year ended March 2021 was Rs. 4,091.64 Crore</p> <h4><strong>Total investment to be raised by Hero-Fin Corp</strong></h4> <p>HFCL is in the process of raising capital of upto Rs. 2,000 core through private placement for its business purposes and out of that Rs.700 Crores will be infused by Hero MotoCorp.</p> <h4><strong>% of shareholding of Hero-Moto Corp?</strong></h4> <p>Investment is being made in CCPS (Compulsorily Convertible Preference Shares) to be issued by HFCL. Prior to the proposed investment, HMCL's shareholding in HFCL is 41.2%. The exact shareholding of HMCL in HFCL post the investment, will be determined upon completion of capital raise round by HFCL.</p> <h4><strong>What is for Unlisted Shareholders of <a href="https://unlistedzone.com/shares/hero-fincorp-limited-share-price-buy-sell-unlisted-shares-of-hero-fincorp/">Hero Fin-Corp</a>?</strong></h4> <p>It would be very interesting to see at what value the preference shares will be issued by the company to Hero Moto-Corp. That will benchmark the valuation of <a href="https://unlistedzone.com/shares/hero-fincorp-limited-share-price-buy-sell-unlisted-shares-of-hero-fincorp/">Hero-Fin Corp</a> in the unlisted market. 2 years back, Hero-Fin Corp raised money from private investors at ~Rs.829 per share.</p>
With a sharp correction in the broader markets, the attraction of unlisted space has increased as investors are seeking more value and safety margins in the pre-IPO space. However, investors must understand that an unlisted share market is a big no for short-term investors and low-risk bearers. If you still want some cherry-picks from this space, UnlistedZone is helping you with some of the top 10 Unlisted Shares price lists for 2022 you should look at : <strong>1. Chennai Super Kings (CSK) Unlisted Shares <img class=" wp-image-315 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/200px-Chennai_Super_Kings_Logo.svg_.png" alt="" width="167" height="138" /></strong> Despite the multi-bagger run-up in the last 2-to 3 years, CSK still has ample steam left in it. With the bidding of two new teams rallying Rs 7,000 crore, CSK being an established and profit minting entity was rerated. The next big trigger for the franchise will be the auctions of broadcasting rights, along with digital streaming. However, the expenses remain elevated till IPL is hosted outside India or behind the doors. Current price: Rs 198-200 per share <strong>2. Elofic Industries Unlisted Shares</strong> <strong> <img class=" wp-image-10409 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/elofic-logo.png" alt="" width="248" height="61" /></strong> If you are willing to bid on electric vehicles or the EV theme, Elofic should be your go-to name. The Delhi-NCR-based company is a leading manufacturer of filters and lubricants. With the rising demand for EVs in the world, there will be high replacement demand for its products as well. The company boasts a super solid client base in India and the world, which is strong enough to boost its topline. Current price: Rs 3,000 per share <strong>3. Studds Accessories Unlisted Shares <img class="size-medium wp-image-7613 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/studds-300x69.png" alt="" width="300" height="69" /></strong> Want to big on the largest player of helmets and safety products across the globe? We have got Studds Accessories for you, which manufactures more than 7 million helmets and other gears in a year, which are exported throughout the globe. The company has received global certification for its products. The company is constantly driving into innovations, adding face shields and bicycle helmets as well to its portfolio, which will be in demand for a long time. Current price: Rs 1,650 per share <strong>4. HDB Financial Services Unlisted Shares <img class="size-medium wp-image-7608 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/hdb-financials-logo-300x61.png" alt="" width="300" height="61" /></strong> If you are looking for a name with strong parentage, solid balance sheet, and robust financials, you can look at HDB Financials, backed by HDFC group. The company is a leading NBFC player serving both retail and commercial clientage. The company's credit ratings are top-notch by all acclaimed rating agencies. With a strong network of about 1,500 branches in more than 1,000 locations, the company is a pan India play. Current price: Rs 950 per share <strong>5. Martin and Harris Unlisted Shares <img class="wp-image-23734 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/Martin-harris-Unlisted-share-e1643004434382.jpeg" alt="" width="309" height="115" /> </strong> The rising cost of branded medicines gave birth to their generic version, and Gurgaon-based Martin & Harris is a leading player in the segment. With a strong legacy in the pharma segment, the company obtains half its revenue from investment and derivative business. Thus, the company's downside is capped if there is turbulence in one business. It is a good play for the pharma and financial sector. Current price: Rs 2,950 per share <strong>6. Capital Small Finance Bank (SFB) Unlisted Shares <img class="size-medium wp-image-7610 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/capital-sfb-logo-300x131.png" alt="" width="300" height="131" /></strong> Amidst the spree of small finance and payment banks, Capital SFB paves its way as an important player in India's lending sector. With a deep penetration in India's rural segment, the lender is serving the underserved at a very low cost. Backed by HDFC Life and ICICI Prudential Life, the lender is a big play for long-term wealth creation for the investors. Current price: Rs 360 per share <strong>7. B9 Beverages (Bira Beer) Unlisted Shares <img class=" wp-image-1677 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/bira-logo-300x300.png" alt="" width="136" height="136" /></strong> Backed by some of the global names like Sequoia Sofina and Farhan Akhtar, Bira has marked its presence among the urban millennials, thanks to its unique product line and taste. The brewery maker is crafting into drinkers' minds, making them go bonkers for it. The 21st-century beer maker is a global brand now, thanks to portfolio mix. A large number of domestic startup players have given cheers and big funding cheques to Bira. Current price: Rs 950 per share <strong>8. API Holdings (Pharmeasy) Unlisted Shares <img class="wp-image-23741 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/Pharmeasy-unlisted-share.png" alt="" width="332" height="66" /> </strong> IPO-bound startup platform sells medical products with its online brand Pharmeasy. The company is not only restricted to medicines but also provides consultations, tests, and other healthcare products. The company serves every habitable area in the nation which has a postal zip code. It is the largest pharma e-tailer in the nations, which will make its debut on the bourses soon. Current price: Rs 108-100 per share <strong>9. Care Health Unlisted Shares <img class="wp-image-16715 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/care_health_insurance_logo.png" alt="" width="209" height="157" /></strong> The company is a leading name in the standalone health insurance sector, which serves individuals, corporates, and institutional customers. The company's product range includes health insurance, critical illness, personal accident, top-up coverage, and maternity. It is a strongly recommended play to accumulate on dips as the pandemic has emphasized the need for health insurance for all. Also, the rising bills of private hospitals are worrisome for the people at large. Current price: Rs 215 per share <strong>10. Cochin International Airport Unlisted Shares <img class=" wp-image-23732 aligncenter" src="https://unlistedzone.com/storage/knowledge-logo/cochin-unlisted-shares.jpeg" alt="" width="347" height="131" /> </strong> It is a decent buy for the investors who are aiming to buy a public-private partnership focused on the travel theme. Cochin hosts the third-highest number of international flights in India, after Delhi and Mumbai. It is fully powered by solar energy. Backed by superb management, investors can simply buy it for a strong linear performance, once the pandemic is over and normalcy is restored. Current price: Rs 210 per share <p style="text-align: center;">----------------------------------------------------------------------------</p> Feel free to contact our customer relationship manager and co-founder of UnlistedZone.com, Mr. Dinesh Gupta at <a href="http://+91-80100 09625">+91-80100 09625</a> or drop us an email at <a href="mailto:[email protected]">[email protected]</a> <strong>Important Note: </strong>Please note that the <strong>lock-in period</strong> for selling unlisted shares is <strong>six months after listing</strong>. Hence you can't sell an unlisted share that you bought in Pre-IPO for six months after its listing. i.e. You can sell it only after six months calculated from the listing date. 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<p>New Delhi: HDFC Securities, the brokerage arm of India' private lender, has announced its earnings for the period ended on December 31, 2021. <br /><br />It reported a 58.15% rise in the net profit to Rs 258.03 crore in the quarter ended on December 31, 2021 as against a net profit of Rs 163.15 crore in corresponding period previous year. On a sequential basis, the bottomline jumped 7.7% from Rs 239.57 crore. <br /><br />The brokerage firm has reported a rise of 58.4% in the topline to Rs 532.03 crore in December 2021 quarter from Rs 335.86 crore in December 2020 quarter. <br /><br />The revenue grew about 10% from Rs 485.81 crore on a sequential basis. EBIT of the company surged more than 51% to Rs 347.09 crore from Rs 228.97 crore during the period under review. It has reported an EBIT of Rs 322.52 crore in the September 2021 quarter. <br /><br />HDFC Securities reported an diluted EPS of Rs 163.34 per share for the Q3 FY22, against an EPS of Rs 103.64 apiece in Q3 FY 22. <br /><br />HDFC Securities kicked off its operations in April 2020 as a Joint Venture between HDFC Bank, HDFC and Indocean eSecurities Holdings. Currently, HDFC Bank holds more than 96 per cent stake in the brokerage arm. Along with broking services, HDFC Securities is engaged in the distribution of financial products in India. <br /><br />It is among the oldest brokerages of the country. For the nine months ended on December 31, the company reported a rise of 60% in the net profit to Rs 1,004.1 crore, which was Rs 627.62 crore in the same period previous fiscal. <br /><br />The revenue from operations advanced about 55% to Rs 1,469.96 crore for the given period, which was Rs 950.46 in the corresponding period. EPS jumped 62% to Rs 474.37 per share from 291.45 during the period under review. HDFC Securities has announced an interim dividend of Rs 148 per cent for the period ended on December 31, 2021 including the tax deducted as source. <br /><br />The COVID -19 pandemic continues to have a considerable impact on economic activities across the various parts of the country and across the globe, said Dheeraj Relli, Managing Director, HDFC Securities. "The Government of India and various state governments have introduced a series of initiatives over the past year including lockdowns in order to contain the impact of the virus." Stock broking and depository services have been declared as essential services all through the year and accordingly, the Company has faced no business stoppage/interruption on account of the lockdown. "As of 31 December 2021, based on facts and circumstances existing as of that date, the Company does not anticipate any material uncertainties which affects its liquidity position and also ability to continue as a going concern," Relli added.</p>
Mohindra Fasteners Limited (MFL) is coming up with a rights issue aggregative to Rs 4.82 crore. The board of directors of the company has approved a rights issue for the shareholders. The board of directors met on December 31, 2021 to consider the proposal, which was approved by the panel, suggesting the latest regulatory filing from the company. The New Delhi based company has fixed the size of rights issue to 5,35,680 equity shares at a price of Rs 90 apiece (including a premium of Rs 80 per share) aggregating to Rs 4,82,11,200. The company has fixed the right entitlement ratio at 1:10, that means that eligible shareholders will be entitled for a single share for every 10 existing shares held by them as on the record date. The record date for determining the eligible shareholders for the rights entitlement for the issue is fixed as Thursday, January 06, 2022. The rights issue of Mohindra Fasteners Limited will open on January 24, 2022 (Monday) and the last date for on-market renunciation is fixed on February 7, 2022 (Monday). The issue closes on February 11 (Friday). Incorporated in 1995, MFL is a manufacturer of High Tensile Fasteners which are used in the automotive and engineering sector. Fasteners are the components that join one thing to another. Over the years, it has successfully emerged as a name to reckon with in the Indian fastener industry. It is listed on Metropolitan Stock Exchange of India (MSEI). The company offers a wide range of cold and hot forged fasteners and precision machined components for automotive and industrial applications, employing more than 400 headcounts. Mohindra Fasteners derives 40% of revenue from the domestic market, whereas North America, UK and Europe contribute the remaining 60% of the revenue. MFL has three manufacturing plants on Delhi-Rohtak Road, Haryana. The company has a strong client base including Hero Motocorp, Maruti Suzuki, Hyundai India and Tata Motors. In the financial year ended on March 31, 2021, the company reported a net profit of Rs 10.38 crore with a revenue of Rs 108 crore in the fiscal. Earning per share (EPS) of the company stood at Rs 19 per share during the financial year.
Continuing its aggressive shopping spree, Reliance Retail has picked up a huge stake in the Bengaluru based Dunzo, quick commerce startup, for a whopping $200 million. The retail arm of Mukesh Ambani led Reliance Industries has been busy in adding items to shopping cart lately, as the company invested $240 million in the latest round of funding from its kitty. According to the official statement of the company, Reliance Retail has picked a 25.8 percent stake in Dunzo. Existing investors of the startup including Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in this round. India's largest conglomerate access to Dunzo establishes the fact that the domestic behemoth has been bullish on the rapid delivery, which is the latest and hottest theme attracting the bevy of the investors. Reliance Retail said that the capital will be used for the growth and expansion of Dunzo to make it the largest quick commerce player in the nation, enabling instant delivery of essentials from a network of micro warehouses. The company is also eyeing to expand its business to business (B2B) vertical to enable logistics services for local merchants in the Indian cities. The deal gives Dunzo ammunition to compete against Blinkit (erstwhile known as Grofers), another newbie upstart Zepto, Swiggy-owned Instamart, and BigBasket, among others to deliver groceries and essential items to urban households quickly. This is Reliance’s second major entry of sorts into the grocery delivery space, besides its own JioMart service. It also acquired Milkbasket last year, which delivers milk and daily staples to households in Delhi, Bengaluru, and other cities. According to earlier reports, Dunzo held conversations with Zomato, Swiggy and Tata Group for investment, but somehow, the deal could not be sealed.
Allied Blenders & Distillers Private Limited, a homegrown brewery player, is eying to raise primary funds as much as $300 million (about Rs 2,260 crore) via initial public offering (IPO). According to an Economic Times report, the company may launch its initial stake sale in the next year valuing itself at $2.5 billion (Rs 18,850 crore). The company, which is known for manufacturing 'Officer's Choice' whiskey, is likely to file its draft red herring prospectus (DRHP) in the first quarter of next calendar, the report said citing sources. According to the sources, the company has not finalized anything over the timing and valuations, and has kept the doors of discarding the IPO route. The Mumbai based distiller officially has not commented anything so far on the media reports. However, the company has joined the pipeline of domestic player, which are in slew of considering the IPOs. The Government of India backed Life Insurance Corporation of India and Flipkart Online Services, the Indian e-commerce firm controlled by Walmart, are among key players to make debut on the bourses in the next year. Allied Blenders sells various kinds of alcohol based drinks including whiskey, rum, brandy and vodka in more than 29 countries, the company website said. According to the company data, it has as many as nine bottling units, one distilling facility and over 20 outsourced manufacturing sites. Alcoholic beverage consumption in India is on the rebound as pandemic-linked curbs are eased. Consumption will expand at about 1.5 times the rate of economic growth, according to S Group AG earlier this month.
NCL-Buildtek has informed to the investors that the Board of Directors ("Board") of the Company had, in its meeting held on 29<sup>th</sup> November 2021, declared a final dividend of Re. 1 per equity share having nominal value of Rs. 10/- each for the FY ending on 31<sup>st</sup> March 2021. The dividend will be paid subject to the approval of the Members in the 4<sup>th</sup> AGM to be held on 24<sup>th</sup> December, 2021.<!--more--> <strong>Who is eligible for Dividend?</strong> The dividend will be paid to the members holding equity shares in electronic form as at the close of business hours on Thursday, the 16<sup>th</sup> December, 2021 on the basis of details of beneficial ownership furnished by the Depositories and to the Members holding shares in physical form whose names appear in the Register of Members as at the close of business hours on Thursday, the 16<sup>th</sup> December, 2021 after giving effect to valid requests received for transmission/ transposition of shares on or before Thursday, the 16<sup>th</sup> December, 2021. <strong>Dividend Yield of NCl-Buidtek?</strong> Dividend Yield = Total Dividend Per Share/CMP of NCL-Buildtek = 1/250 = 0.4%.
<div class="tatsu-column-pad-wrap"> <div class="tatsu-column-pad"> <div class="tatsu-module tatsu-inline-text clearfix tatsu-ByB-5HQ1zK "> <div class="tatsu-inline-text-inner "> <p><strong>Dinesh Gupta, co-founder, UnlistedZone</strong>, said the number of buyers has trimmed in the markets. Neither the FIIs or the HNIs were actively buying right now. Investors have learnt their lessons from Paytm and Star Health, he said. “There are multiple issues in the pipeline and investors have to pick up and choose from issues.” he added. “Funds are limited and will be distributed among the issues, pinching the grey market.”</p> </div> </div> <div class="tatsu-animated-link tatsu-animated-link-style4 tatsu-Hy8Z9S7yzF tatsu-module tatsu-animated-link-align-none "><a class="tatsu-animated-link-inner " href="https://economictimes.indiatimes.com/markets/ipos/fpos/amid-the-busy-ipo-season-grey-market-is-losing-ground-heres-why/articleshow/88160310.cms?from=mdr" 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>
<div class="tatsu-module tatsu-inline-text clearfix tatsu-B17hHD-RYY "> <div class="tatsu-inline-text-inner "> <p>“Tega Industries is a leading producer of specialized and critical to operate products which is having high barriers to sustitution, which give it a good moat. Tega Industries has shown excellen top-line and bottom-line and, IPO based on FY21 earnings looks reasonably priced. However, due to subdues market conditions lately, the GMP fell from a high of Rs 400 to Rs 325 level now. And with the 666 times the HNI Subscription, there are high chances of loss for leveraged. HNIs. <br /><br />For retail clients, it will give very good returns”, said <strong>Umesh Paliwal, Co-founder of InvestorZone.</strong></p> </div> </div> <div class="tatsu-animated-link tatsu-animated-link-style4 tatsu-rkN2rvZAFK tatsu-module tatsu-animated-link-align-none "><a class="tatsu-animated-link-inner " href="https://www.financialexpress.com/market/ipo-news/tega-industries-ipo-share-allotment-check-status-via-bse-link-intime-grey-market-premium-listing-on-dec-13/2384257/" target="_blank" rel="noopener" aria-label="Read Full Article Here"><span class="tatsu-animated-link-text">Read Full Article Here</span></a></div>
<div class="gmail_default">One of India's most prestigious corporate houses, the Tata Group, is all set to take on Air India in January 2022 from the government of India, under its strategic disinvestment plans.</div> <div class="gmail_default">The Mumbai based conglomerate, with a valuation around $250 billion, will also be receiving a stake in Kerala's Cochin Airport as part of this deal. This will make Tata the only airline to have an operational stake in a major airport at home.</div> <div class="gmail_default"> </div> <div class="gmail_default">The aforesaid acquisition is likely to be windfall gain for the Tata Group, which will get its share in the pie of Cochin International Airport and its subsidiary companies.<br /><br /></div> <div class="gmail_default">Cochin International Airports is a southern strategic centre and the third largest airport in the country in terms of international passenger traffic as it is a connecting hub for India to middle east nations. Private carrier IndiGo, along with Air India and Air India Express, also uses Cochin to ferry rewarding ‘Malayali Gulf traffic’ to multiple places such as Jeddah, Dubai, Abu Dhabi, Riyadh, Sharjah, Doha, Kuwait, among other locations. <br /><br />Air India has 3.27% stake in Cochin International Airport. According to a report of Business Standard, this stake has not been transferred to Air India Asset Holding Limited (AIAHL) as part of the pre-sale restructuring plan. Under this plan, select assets and debts of the national carrier have been removed from the books of AIAHL.<br /><br />The stake in Cochin Airport will be with the buyer, as per the disinvestment documents released by the Centre. The leading conglomerate producing coffee to cars, will get the stake in Cochin Airport as a buyer, according to disinvestment documents released by the Government of India. Air India had infused a sum of Rs 45 crore in this airport. However, it will not get Air India's stake in some other ventures including Hotel Corporation of India, Air India Engineering Services, Airline Allied Services and Air India Transport Services, which holds the cumulative worth of Rs 818 crore. <br /><br />Tata Sons, the holding company of Tata Group, bid for Air India for the sum of Rs 18,000 and the deal was signed with the share purchase agreement with the centre in October this year. Earlier, the government had accepted an offer to pay Rs 2,700 crore in cash and take over the airline's debt worth Rs 15,300 crore for the servicing. Barring the stake transfer to the Tata Group, State Bank of India (SBI), Bharat Petroleum (BPCL) and Housing and Urban Development Corporation (HUDCO) will collectively hold a 10 per cent stake in the Cochin International Airport. Other than these state run players, the private non promoting shareholders of the Cochin International Airport include Synthite Industries (6.53%), Bavaguthu Raghuram Shetty (1.99%), Khadeeja Zeenath (1.57%), Shabira Yusuffali (1.45%) and Amina Mohammed Ali (1.31%). <br /><br />In India, there is no precedent like Tata’s stake in Cochin Airport. More than 50 airlines in the world have a stake in airports and some even have outright ownership of airports, the report said citing data from the Center for Aviation. <br /><br />The financials of the company have deteriorated in the financial year 2020-21, thanks to the coronavirus pandemic, which has put halt on the travelling and international flights. In the financial year ended on March 31, 2021, Cochin International Airport reported a total income of Rs 296 crore with a net loss of Rs 92 and a negative EPS of -2.37 per share. In the FY 2019-20, the company had reported a net profit of Rs 237 crore, supported by a total income of Rs 810 crore. The EPS stood at Rs 6.19 per share during the period under review.</div>
<div class="gmail_default"><strong>Clear picture on NSE valuations awaited as SEBI likely clear merger with NCDEX</strong></div> <div class="gmail_default"><br />Capital markets regulator Securities and Exchange Board of India (SEBI) may approve the proposed merger of National Commodity and Derivatives Exchange Limited (NCDEX) with the National Stock Exchange (NSE) this week.<br /><br /></div> <div class="gmail_default">According to a report of Zee Business, “In-principal approval of merger of NCDEX-NSE may come at any point of time.” Both the exchanges have applied with the markets regulator for the merger. Earlier, NCDEX mulled the IPO plans, which were later shunned and NSE intended the proposed merger. Currently, NSE holds about 15 percent stake in the NCDEX. <br /><br />If the merger is approved by SEBI, the deal will be done on share swap ratio. Both the parties will have to move to National Company Law Tribunal (NCLT) for the merger after the approval from the SEBI. Life Insurance Corporation of India (LIC), National Bank for Agriculture and Rural Development (NABARD) and Indian Farmers Fertiliser Cooperative Limited (IFFCO) hold 11.1 percent stake each in NCDEX. Punjab National Bank (PNB), Canara Bank and Shree Renuka Sugars hold 5 percent stake each and CRISIL holds 3.7 percent stake in NCDEX. <br /><br />All the stakeholders will be allotted shares of NSE, once the share swap ratio is agreed. The merger will unlock the real valuations of National Stock Exchange, which is in the pipeline of its initial stake sale. <br /><br />The is likely to rotate the NSE valuations in the unlisted market, ahead of the much awaited mega IPO. Also, NSE, prior to its initial public offering, will strengthen its agri-commodity business, where it was lagging behind, to become a multi-dimensional trading platform. <br /><br />NSE is already the market leader in the equity segment and world's largest derivative exchange. NCDEX has the highest market share in the agri commodities and their merger can turn the tides for the agri-commodity business. <br /><br />After the proposed merger, NCDEX is likely to emerge as a strong player in the agri-commodity segment, where FPI will soon get the entry to trade. Mutual Funds are already a player in the segment, and banks too may get a chance to play the game. Following the footsteps of Multi Commodity Exchange (MCX), NCDEX was the second exchange which allowed the commodity derivative change platform in 2003. MCX started its operations a month earlier, compared to NCDEX. However, MCX planned to move out of the business and made the exit strategically as the agri-commodity business is highly sensitive. MCX focussed more on non-agri commodities, especially base metals and bullions including precious ones. <br /><br />NCDEX was highly focussed on agri-commodities and many of them directly affected the domestic household and inflation status in the nation. So, it was inclined to politically sensitive business as the government could directly impact and intervene in the business. <br /><br />Currently, majorly NCDEX volume is contributed by thin base commodities. Like Guar Seed or Guar Gum which produce only in three states Rajasthan, Haryana and Gujarat. Similarly with castor seed mainly in Gujarat, Rajasthan and Andhra Pradesh. Those commodities which have pan India production or consumption are either banned by the government or not traded on NCDEX. Recently, Sebi has banned future and option trading of Chana and Mustard after consultation with the government. Both commodities are volume generators for this exchange.</div> <div class="gmail_default"> </div> <div class="gmail_default">After the Forward Market Commission merger with Sebi most of the things were at par with the equity market. However, participation of domestic institutional investors is lacking on agri commodities. NSE-NCDEX merger talks were going on for more than two years. In between NCDEX tried to launch Initial Public Offer also which was scrapped as the coronavirus pandemic hit the markets badly.</div>
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