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<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>
<div class="tatsu-module tatsu-inline-text clearfix tatsu-ry72YOb0Kt "> <div class="tatsu-inline-text-inner "> <p>“As far as the Unlisted market is concerned, Paytm’s poor listing is the single biggest factor behind the fall in other Unlisted stocks” said <strong>Dinesh Gupta,Co- Founder UnlistedZone</strong>.</p> </div> </div> <div class="tatsu-animated-link tatsu-animated-link-style4 tatsu-SJEnKOWAFt tatsu-module tatsu-animated-link-align-none "><a class="tatsu-animated-link-inner " href="https://unlistedzone.com/storage/knowledge-logo/5_6120645962386899796.pdf" target="_blank" rel="noopener" aria-label="Read Full Article Here"><span class="tatsu-animated-link-text">Read Full Article Here</span></a></div>
<p>There are a lot of misconceptions and queries regarding <strong>Pre IPO shares</strong> in the market. Many investors are confused between Pre-IPO shares, Unlisted Shares, delisted shares, etc and many other related queries. So to unearth all these queries, today we are presenting a questionnaire to understand all of these in a better way.</p> <h4>1. What are Pre-IPO shares, Unlisted and De-listed Shares?</h4> <p><strong>(i) Pre IPO Shares</strong>: Every company needs funds to run the business. Funds are raised via debt or Equity. When funds are raised via Equity, the investors who are investing in the company want a good return of their investment. Let us suppose investors have invested Rs.500 Crores in the company. Now after 5 years they want to take exit and handover company shares to other investors. So accordingly, the company plans for IPO to give exit to these investors and generally such information comes in media. Before the launch of such IPOs, we at <strong>UnlistedZone</strong> arrange Pre-IPO shares to our investors. <br /><br /><strong>Benefits of <em>Pre IPO Shares</em>:</strong> These days, due to more awareness via social media/news-papers/news channels, IPOs receives a lot of attention and good IPOs are subscribed heavily. Therefore, getting a single lot in IPO is very difficult. <br /><br />Here, the <strong>Pre-IPO shares</strong> play a vital role. You can purchase these shares well below the IPO price before it actually launches on exchanges and gets the maximum benefit. The only lacuna in Pre-IPO shares is that there is a lock-in period of six months. It means you can’t sell stocks before six months from the date of listing. However, we at <strong>UnlistedZone</strong> consider that this should not be an issue because it is a well-known phenomenon that equity always rewards its investors who invest for a longer duration. <br /><br /><strong>Ex</strong>: Nazara Tech, Barbeque Nation, Studds, Chennai Super Kings, HDB, UTI AMC, Fino-Paytech, Suryoday Small Fin Bank, Utkarsh SFB, etc. <br /><br /><strong>(ii) Unlisted Shares:</strong> Unlisted shares simply mean which is not listed on National stock exchanges like NSE or BSE and they don’t have nearby plans for IPO. There are a lot of good companies in the unlisted space which gives a very good dividend to its investors. Such unlisted shares are good investment ideas. The liquidity is an issue in these unlisted shares but we at <strong>UnlistedZone</strong> act as a market maker to buy and sell good rated companies. <br /><br /><strong>Ex:</strong> Tata Technologies, Carrier Air Conditioning, etc. are such companies which are good dividend-paying unlisted companies and have not informed any IPO plans in the media. <br /><br /><strong>(iii) Delisted Shares:</strong> The shares are delisted from national stock exchanges like NSE or BSE and currently not trading. The reason could be anything from not adhering to disclosures as per exchanges requirement or management call to delist the company. <br /><br /><strong>Ex:</strong> Essar Oil gets delisted from exchanges in 2015 when it was acquired by the Russian company. Essar Steel and Electrosteel are an example of other such companies.</p> <h4>2. How is Pre-IPO shares priced?</h4> <p>Pre-IPO shares, much like their counterparts in the listed market, are priced based on the dynamics of demand and supply in the unlisted market. However, there is comparatively less research and analysis available for Pre-IPO shares. At UnlistedZone, we endeavor to comprehensively research and cover high-quality Pre-IPO shares, providing our investors with the necessary insights to make informed decisions. Additionally, we conduct valuations of these shares and compare them with similar entities in the listed market, offering a clear perspective on their market standing.</p> <h4>3. Can you sell Pre-IPO shares immediately?</h4> <p>No, the Pre-IPO shares have a lock-in period of six months. It means you can’t sell stocks before six months from the date of listing.<strong> </strong></p> <h4>4. How Pre-IPO shares are taxed?</h4> <p>The Pre-IPO shares are taxed as per STCG or LTCG. <br /><br /><strong>STCG (<2 Years): </strong>If you sell Pre-IPO shares before 2 years of buying, capital gain will be charged as per income tax slab. <br /><br /><strong>LTCG (>2 Years): </strong>If you sell Pre-IPO shares after 2 years of buying, a 20% tax with indexation benefit will be levied. In Pre-IPO shares, you don’t have to pay GST or STT (Security Transaction Tax).</p> <h4>5. How to buy Pre-IPO Shares, Unlisted Shares and Delisted Shares?</h4> <p>We at UnlistedZone provide the facility of buying Pre-IPO, unlisted and delisted shares. The link to buy these shares is mentioned below. <a href="https://unlistedzone.com/procedure-to-buy-and-sell-unlisted-shares-with-unlistedzone/">https://unlistedzone.com/procedure-to-buy-and-sell-unlisted-shares-with-unlistedzone/</a></p> <h4>6. What is the Client Master Copy?</h4> <p>In the unlisted market, Client Master Report (CMR) Copy is the most important document which is required to buy unlisted and Pre IPO shares. It contains DP ID, Client ID, PAN number, Bank Number, etc. This can be easily obtained by sending an email to the broker and the same is delivered within 2-3 hrs.</p> <h4>7. How to check the credit of Shares?</h4> <p>After 01.04.2019, SEBI has mandated that no physical shares can be sold. If somebody wants to sell its shares, then first, it must be converted into Demat form. So in the unlisted market, shares are always credited in Demat form only. The credit of shares can be checked by downloading the NSDL or CDSL app. <br /><br /><strong>How do you know which app to download: NSDL or CDSL?</strong> <br /><br />By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL. <br /><br /><strong>Demat Account</strong> = 16 Characters which has DP ID + Client ID. DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL. Client ID is the unique identification of the Client. Every client gets this unique number which represents his/her portfolio. In CDSL, all these characters are numbers (1234567891234567). The first 8 digits are DP ID and the next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country IN12345678912345), then 6 unique digits for broker and next 8 digits are client ID. <br /><br /><strong>CDSL</strong> = 12345678 (<strong>DP ID</strong>) and 91234567 (<strong>Client ID</strong>). <br /><br /><strong>NSDL</strong> = IN123456 (<strong>DP ID</strong>) and 78912345 (<strong>Client ID</strong>)</p>
<p>Amidst the ongoing IPO season, Capital Small Finance Bank is also planning to raise funds via primary market route. The small lender has filed a draft herring prospectus (DRHP) with capital markets regulator SEBI to float an initial public offering (IPO). The IPO consists of a fresh equity share issue worth Rs 450 crore, along with an offer for sale (OFS) of up to 3.84 million equity shares by existing shareholders and promoters. Investors participating in OFS include PI Ventures (3.37 lakh equity shares), Amicus Capital Private Equity I LLP (6.04 lakh equity shares) among others. Proceeds from the issue will be used to augment tier-I capital base to meet the future capital requirements of the lender. As of June 2021, its tier-I capital base was Rs 446 crore. Its capital to risk was 21.12%. Capital Small Finance Bank mainly focuses on the needs of the middle income segment, providing its products and services in that area of operations. The lender is backed by a number of financial behemoths and institutional investors including SIDBI, ICICI Prudential and HDFC Life among others. According to the details given in DRHP, Capital Small Finance Bank is present in four states of north India including Punjab, Haryana, Delhi and Rajasthan, with lender having 159 branches and 161 ATMs. <img class="alignnone wp-image-21682" src="https://unlistedzone.com/storage/knowledge-logo/Screenshot-2021-09-21-at-12.40.06-PM.png" alt="" width="516" height="357" /> </p> <table style="width: 100%; height: 599px;"> <tbody> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;" width="228"><strong>Particulars (Fig. In Cr)</strong></td> <td style="text-align: center; height: 46px; width: 12.9187%;" width="110"><strong>2016</strong></td> <td style="text-align: center; height: 46px; width: 11.3238%;" width="103"><strong>2017</strong></td> <td style="text-align: center; height: 46px; width: 10.5263%;" width="114"><strong>2018</strong></td> <td style="text-align: center; height: 46px; width: 15.311%;" width="106"><strong>2019</strong></td> <td style="text-align: center; height: 46px; width: 10.5263%;" width="95"><strong>2020</strong></td> <td style="text-align: center; height: 46px; width: 10.5263%;" width="89"><strong>2021</strong></td> <td style="text-align: center; height: 46px; width: 10.5263%;" width="102"><strong>Jun-21</strong></td> </tr> <tr style="height: 70px;"> <td style="text-align: center; height: 70px; width: 16.5869%;">Revenue from Operation</td> <td style="text-align: center; height: 70px; width: 12.9187%;">0.14</td> <td style="text-align: center; height: 70px; width: 11.3238%;">33</td> <td style="text-align: center; height: 70px; width: 10.5263%;">111</td> <td style="text-align: center; height: 70px; width: 15.311%;">358</td> <td style="text-align: center; height: 70px; width: 10.5263%;">667</td> <td style="text-align: center; height: 70px; width: 10.5263%;">2335</td> <td style="text-align: center; height: 70px; width: 10.5263%;">1100</td> </tr> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;">Other Income</td> <td style="text-align: center; height: 46px; width: 12.9187%;">0.08</td> <td style="text-align: center; height: 46px; width: 11.3238%;">0.87</td> <td style="text-align: center; height: 46px; width: 10.5263%;">2.58</td> <td style="text-align: center; height: 46px; width: 15.311%;">5.62</td> <td style="text-align: center; height: 46px; width: 10.5263%;">70</td> <td style="text-align: center; height: 46px; width: 10.5263%;">25</td> <td style="text-align: center; height: 46px; width: 10.5263%;">100</td> </tr> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;">Total Revenue</td> <td style="text-align: center; height: 46px; width: 12.9187%;">0.22</td> <td style="text-align: center; height: 46px; width: 11.3238%;">34</td> <td style="text-align: center; height: 46px; width: 10.5263%;">114</td> <td style="text-align: center; height: 46px; width: 15.311%;">363</td> <td style="text-align: center; height: 46px; width: 10.5263%;">737</td> <td style="text-align: center; height: 46px; width: 10.5263%;">2360</td> <td style="text-align: center; height: 46px; width: 10.5263%;">1200</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">Purchases</td> <td style="text-align: center; height: 23px; width: 12.9187%;">0.75</td> <td style="text-align: center; height: 23px; width: 11.3238%;">42</td> <td style="text-align: center; height: 23px; width: 10.5263%;">118</td> <td style="text-align: center; height: 23px; width: 15.311%;">377</td> <td style="text-align: center; height: 23px; width: 10.5263%;">700</td> <td style="text-align: center; height: 23px; width: 10.5263%;">2266</td> <td style="text-align: center; height: 23px; width: 10.5263%;">1234</td> </tr> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;">Change in Inventory</td> <td style="text-align: center; height: 46px; width: 12.9187%;">-0.59</td> <td style="text-align: center; height: 46px; width: 11.3238%;">-9.82</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-11</td> <td style="text-align: center; height: 46px; width: 15.311%;">-42</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-58</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-114</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-126</td> </tr> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;">Employee Benefit Exps</td> <td style="text-align: center; height: 46px; width: 12.9187%;">4</td> <td style="text-align: center; height: 46px; width: 11.3238%;">14</td> <td style="text-align: center; height: 46px; width: 10.5263%;">38</td> <td style="text-align: center; height: 46px; width: 15.311%;">80</td> <td style="text-align: center; height: 46px; width: 10.5263%;">137</td> <td style="text-align: center; height: 46px; width: 10.5263%;">270</td> <td style="text-align: center; height: 46px; width: 10.5263%;">165</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">Other Exps</td> <td style="text-align: center; height: 23px; width: 12.9187%;">7</td> <td style="text-align: center; height: 23px; width: 11.3238%;">34</td> <td style="text-align: center; height: 23px; width: 10.5263%;">63</td> <td style="text-align: center; height: 23px; width: 15.311%;">185</td> <td style="text-align: center; height: 23px; width: 10.5263%;">275</td> <td style="text-align: center; height: 23px; width: 10.5263%;">481</td> <td style="text-align: center; height: 23px; width: 10.5263%;">215</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">EBITDA</td> <td style="text-align: center; height: 23px; width: 12.9187%;">-11</td> <td style="text-align: center; height: 23px; width: 11.3238%;">-47</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-97</td> <td style="text-align: center; height: 23px; width: 15.311%;">-243</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-386</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-569</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-292</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">OPM</td> <td style="text-align: center; height: 23px; width: 12.9187%;">-7319.05%</td> <td style="text-align: center; height: 23px; width: 11.3238%;">-141.73%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-87.65%</td> <td style="text-align: center; height: 23px; width: 15.311%;">-67.82%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-57.85%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-24.38%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-24.45%</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">Finance Cost</td> <td style="text-align: center; height: 23px; width: 12.9187%;">0.07</td> <td style="text-align: center; height: 23px; width: 11.3238%;">0.18</td> <td style="text-align: center; height: 23px; width: 10.5263%;">2.86</td> <td style="text-align: center; height: 23px; width: 15.311%;">5.12</td> <td style="text-align: center; height: 23px; width: 10.5263%;">12</td> <td style="text-align: center; height: 23px; width: 10.5263%;">43</td> <td style="text-align: center; height: 23px; width: 10.5263%;">20</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">Depreciation</td> <td style="text-align: center; height: 23px; width: 12.9187%;">0.23</td> <td style="text-align: center; height: 23px; width: 11.3238%;">1.26</td> <td style="text-align: center; height: 23px; width: 10.5263%;">3.74</td> <td style="text-align: center; height: 23px; width: 15.311%;">6.24</td> <td style="text-align: center; height: 23px; width: 10.5263%;">19</td> <td style="text-align: center; height: 23px; width: 10.5263%;">32</td> <td style="text-align: center; height: 23px; width: 10.5263%;">17</td> </tr> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;">Profit Before Tax</td> <td style="text-align: center; height: 46px; width: 12.9187%;">-11</td> <td style="text-align: center; height: 46px; width: 11.3238%;">-48</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-101</td> <td style="text-align: center; height: 46px; width: 15.311%;">-248</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-347</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-620</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-319</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">Tax Exps</td> <td style="text-align: center; height: 23px; width: 12.9187%;">0.01</td> <td style="text-align: center; height: 23px; width: 11.3238%;">0.07</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-2</td> <td style="text-align: center; height: 23px; width: 15.311%;">-5</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-11</td> <td style="text-align: center; height: 23px; width: 10.5263%;">21</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-6</td> </tr> <tr style="height: 46px;"> <td style="text-align: center; height: 46px; width: 16.5869%;">Profit After Tax</td> <td style="text-align: center; height: 46px; width: 12.9187%;">-11</td> <td style="text-align: center; height: 46px; width: 11.3238%;">-48</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-100</td> <td style="text-align: center; height: 46px; width: 15.311%;">-243</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-335</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-641</td> <td style="text-align: center; height: 46px; width: 10.5263%;">-313</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">NPM</td> <td style="text-align: center; height: 23px; width: 12.9187%;">-7415.27%</td> <td style="text-align: center; height: 23px; width: 11.3238%;">-143.67%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-90.19%</td> <td style="text-align: center; height: 23px; width: 15.311%;">-67.92%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-50.23%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-27.46%</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-26.23%</td> </tr> <tr style="height: 23px;"> <td style="text-align: center; height: 23px; width: 16.5869%;">EPS (Basic)</td> <td style="text-align: center; height: 23px; width: 12.9187%;">-93</td> <td style="text-align: center; height: 23px; width: 11.3238%;">-415</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-865</td> <td style="text-align: center; height: 23px; width: 15.311%;">-2090</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-12</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-2</td> <td style="text-align: center; height: 23px; width: 10.5263%;">-0.77</td> </tr> </tbody> </table> <div> </div>
<p>PharmEasy, a leading name in India's e-pharmacy sector, has recently made a significant move towards its growth trajectory by filing for an Initial Public Offering (IPO). API Holdings, PharmEasy's parent company, has submitted a Draft Red Herring Prospectus (DRHP) to SEBI, the capital markets regulator. This step marks a pivotal point in PharmEasy's journey, aligning with the trend of public issues by dynamic Indian startups.</p> <p>The PharmEasy IPO aims to mobilize substantial funds, targeting a figure of Rs 6,250 crore through the sale of fresh equity shares. This fundraising initiative is a testament to the company's ambition to strengthen its foothold in the pharmaceutical market. Additionally, PharmEasy is contemplating a pre-IPO private placement, potentially amounting to Rs 1,250 crore. If pursued, this will adjust the total size of the IPO, maintaining compliance with market regulations that mandate a minimum issue size constituting at least 10% of the post-issue paid-up equity share capital.</p> <p>The proceeds from the PharmEasy IPO are earmarked for specific strategic uses. A significant portion, amounting to Rs 1,929 crore, is allocated for the repayment or prepayment of outstanding debts. Furthermore, the company plans to invest Rs 1,259 crore in organic growth initiatives, while Rs 1,500 crore is set aside for inorganic growth and other strategic ventures, alongside general corporate purposes.</p> <p>PharmEasy has demonstrated remarkable financial growth, with its revenue from operations soaring to Rs 2,335 crore in FY21, a substantial leap from Rs 668 crore in the previous year. Despite these impressive revenues, the company reported a widening net loss, reaching Rs 645 crore in FY21 compared to Rs 335 crore in the previous fiscal year. The first quarter of the current fiscal year saw revenues of Rs 1,197 crore, accompanied by a net loss of Rs 314 crore.</p> <p>Significantly, API Holdings operates without an identifiable promoter, striving to establish itself as a professionally managed entity post-listing. The company emphasizes its commitment to investing in marketing, supply chain infrastructure, and technological capabilities to fuel further growth.</p> <p>For the PharmEasy IPO, esteemed financial institutions such as Kotak Mahindra Capital Company, Morgan Stanley India, BofA Securities India, Citigroup Global Markets India, and JM Financial have been appointed as Book Running Lead Managers (BRLMs). Link Intime India is designated as the registrar to the issue.</p> <p>The PharmEasy IPO places the company alongside other prominent Indian startups like Zomato, Paytm, Nykaa, and Policybazaar, all of which have embraced the public issue route this year, marking a new era in the Indian startup ecosystem.</p>
Chennai-based Five Star Business Finance (FSBFL) is planning to raise capital via an initial stake sale. The nonbanking finance company (NBFC) has filed its draft red herring prospectus (DRHP) with the capital markets regulator Sebi. The NBFC, backed by TPG Capital, Sequoia, Matrix Partners, Norwest Venture, KKR, and TVS Capital, is looking at a valuation of more than $ 3 billion. The company will raise up to Rs 2,751.95 crore via its primary stake sale. The issue will entirely be an offer-for-sale (OFS), where its promoters and existing shareholders will offload stakes. Promoters and shareholders participating in OFS include SCI Investments V, Matrix Partners India Investment Holdings, Matrix Partners India Investment II Extension, Norwest Ventures Partners X- Mauritius, TPG Asia VII SF PTE, Deendayalan Rangasamy, and Varalakshmi Deendayalan. In March 2021, Five Star Business raised around $234 million (Rs 1,700 crore) from its new and existing set of investors. The company has a strong presence in the Southern states of India, primarily in Tamil Nadu. It provides secured business loans of around Rs 2-10 lakhs against the security of self-occupied residential property to micro-entrepreneurs. The company has had a strong run from 103 branches in 2017 to nearly 260 plus branches as of date across 120 districts in 8 states. Its consolidated portfolio expanded at a CAGR of 81 percent during FY16-FY20, while it grew at a moderate pace of 14 percent in FY2021 due to the impact of the Covid-19 pandemic. The AUM stood at Rs 4,445 crore as of March 31, 2021, compared to Rs 3,892 crore as of March 31, 2020. The NBFC posted a 34 percent growth in revenues at Rs 1051 crore in FY21, while its net profit jumped 37 percent to Rs 359 crore. 50 percent of the issue will be reserved for qualified institutional buyers, whereas non-institutional investors will have 10 percent shares allocated to them. The remaining 35 percent portion will be allocated to retail bidders. The company has appointed ICICI Securities, Edelweiss Financial Services, Kotak Mahindra Capital Company, and Nomura Financial Advisory and Securities (India) as the book running lead managers to the issue, whereas KFin Technologies is the registrar to the issue.
<div class="gmail_default"> Amidst the ongoing IPO season, Capital Small Finance Bank is also planning to raise funds via primary market route. The small lender has filed a draft herring prospectus (DRHP) with capital markets regulator SEBI to float an initial public offering (IPO). The IPO consists of a fresh equity share issue worth Rs 450 crore, along with an offer for sale (OFS) of up to 3.84 million equity shares by existing shareholders and promoters. Investors participating in OFS include PI Ventures (3.37 lakh equity shares), Amicus Capital Private Equity I LLP (6.04 lakh equity shares) among others. Proceeds from the issue will be used to augment tier-I capital base to meet the future capital requirements of the lender. As of June 2021, its tier-I capital base was Rs 446 crore. Its capital to risk was 21.12%. Capital Small Finance Bank mainly focuses on the needs of the middle income segment, providing its products and services in that area of operations. The lender is backed by a number of financial behemoths and institutional investors including SIDBI, ICICI Prudential and HDFC Life among others. According to the details given in DRHP, Capital Small Finance Bank is present in four states of north India including Punjab, Haryana, Delhi and Rajasthan, with lender having 159 branches and 161 ATMs. As of June 2021, the lender had deposits worth more than Rs 5,483 crore, which were Rs 4,687 crore a year ago. Advances stood at Rs 3,642 crore compared to Rs 3,145 crore last year. For the June 2021 quarter, net interest income (NII) rose 20% from a year ago to Rs 570.49 crore and the net profit stood at Rs 12.18 crore, which was Rs 6.8 crore a year ago The lender saw an increase in net non-performing assets 1.44% from 1.27% previous year. Provisions and contingencies rose to Rs 10.40 crore against Rs 8.78 crore. The lender has appointed Edelweiss Financial Services, Axis Capital and SBI Capital Markets as the book running lead managers to the issue. </div> <div> <div dir="ltr" data-smartmail="gmail_signature"> <div dir="ltr"></div> </div> </div>
<p>The latest auction of the two teams for the upcoming edition of the Indian Premier League (IPL) has unlocked the valuation of Chennai Super Kings (CSK) in the unlisted market. The recently crowned champion has been roaring high in the unlisted space, commanding a valuation of nearly Rs 7,000 crore following the sale of two new teams. <br /><br />The RP-Sanjiv Goenka Group and equity investment firm CVC Capital Partners have bagged the two new Indian Premier League (IPL) franchises, the IPL Governing Council announced earlier this week. According to the official statement from the Board of Control for Cricket in India (BCCI), RPSG Ventures made the highest bid of Rs 7,090 crore for Lucknow, Irelia Company (CVC Capital Partners) bid Rs 5,625 crore for the Ahmedabad team. <br /><br />Sanjiv Goenka-owned RPSG group had previously owned Rising Pune Supergiants, a defunct IPL team, which was formed for two years along with Gujarat Lions when Chennai Super Kings and Rajasthan Royals were suspended. <br /><br />Goenka also owns a franchise, named ATK Mohun Bagan, based out of Kolkata in the domestic soccer tournament Indian Super League (ISL). <br /><br />BCCI was expecting to reap about Rs 10,000 crore, but surprisingly the richest cricket board in the world has a windfall of Rs 12,715 crore. Chennai Super Kings, one of the most followed IPL franchises, is likely to become the first-ever Indian sports unicorn but the current valuations fall marginally short of achieving this feat. It has raced past its parent India Cements in terms of market capitalization. <br /><br />MS Dhoni-led franchise reported a profit after tax (PAT) of Rs 40.26 crore in 2020-21, which was 20 percent less than the PAT of Rs 50.33 crore clocked in the previous financial year. Investors should now focus on the upcoming broadcasting and online streaming rights for the cycle of 2023-2027. These rights may fetch Rs 36,000 crore boosting the top line of the company. <br /><br />Value investor Radhakishan Damani and IPO-bound Life Insurance Corporation of India (LIC) are the key shareholders of CSK. LIC holds a 6.04 percent stake in the company, whereas Damani's stake is not disclosed in its annual report. <br /><br />Barring the two bid winners, more than 20 interested parties had picked up tender documents, and nine had submitted their final bids. The list included the Adani Group, the Glazer family that owns Manchester United, Allcargo Logistics, and Ahmedabad-headquartered Torrent Group. The other bids were below Rs 5,000 crore.</p>
<p>RP-Sanjiv Goenka Group (RPSG) wins the bid to buy the Lucknow team in the Indian Premier League. Moneycontrol’s Nisha Poddar caught up with owner Sanjiv Goenka on the win and return proposition from the investment of Rs 7000 crore. <br /><br /><strong>Q: How do you feel about this particular acquisition and what is the vision with which you have bought into the IPL team?</strong> <br /><br />A: So the first reaction is, it feels good to be back in IPL. Yeah, this is just the beginning. Now it's about getting to build a team and performing well on the ground.</p> <!--more--> <p><strong>Q: What’s the payout mechanism for the Rs 7000 crore buy?</strong> <br /><br />A: Rs 7,000 crore is the enterprise value to be paid over in 10 years, the first-year payout is Rs 700 crore. In the same period, I expect to get over Rs 3,500 crore from the Cricket Board. <br /><br /><strong>Q: Is over 3500 crore an assumption, or is there any agreement on the payout to RPSG as a team owner?</strong> <br /><br /><strong>A: </strong>No, this estimate is based on their broadcast rights, which they have said will be between Rs 32,000 crore and Rs 35,000 crore for five years and thereafter higher. So, it can be even Rs 4,000 crore as per our research but to be on the cautious side we estimate Rs 3,500 crore in over 10 years. So the net present value of that is Rs 2,600 crore. <br /><br /><strong>Q: While your payment every year is fixed at Rs 700 crore, is the amount you receive will be equal or will vary year on year?</strong> <br /><br />A: No, in this first year what we receive of the Rs 3,500 crore will be less than the next five years, say about Rs 90 crore is what we expect over the next five years; thereafter, it should be between Rs 500 crore and Rs 550 crore every year. <br /><br /><strong>Q: Which entity of the group will own the IPL team?</strong> <br /><br />A: It will be owned by closely held group entities. Companies such as CECS, FirstSource, Saregama, and Philip Carbon Black will have no involvement in this business. This is largely going to be held personally and partially by RPSG Ventures. <br /><br /><strong>Q: What are the return propositions from this investment?</strong> <br /><br />A: In five years I expect it to be worth Rs 10,000 crore. The Rs 7000 crore valuation is to go up to Rs 10,000 crore. So, if I'm investing Rs 2,500 crore and in five years it becomes worth Rs 10,000 crore, that's a pretty good investment. <br /><br /><strong>Q: What is the value unlocking proposition expected?</strong> <br /><br />A: If we did a public issue or divested a minority stake at a higher valuation, we will make good returns on this investment in future. <br /><br /><strong>Q: Besides the acquisition cost, what are the other expenses and investments required in the IPL team?</strong> <br /><br />A: There are other expenses and also other revenue streams. We'll have to see how it works out. On sponsorship numbers, we won't be anywhere near the other larger franchise in the country. There is around Rs 90 crore reserve capital for the player acquisition cost. In other revenue streams, there is advertising, stadium revenues, sponsorships and jersey receipts. <br /><br /><strong>Note:</strong> The article is copied without any editing of the content from Money-Control.</p>
<div class="gmail_default"> Mukesh Ambani led Reliance Retail is inching towards signing in as the new India franchisee US based fashion brand Gap Inc. According to media reports, Reliance Retail has been in talks with Gap for months now. After being the front runner for months, Reliance Industries' retail arm is likely to clinch the deal ahead of Flipkart backed Myntra, which was also in talks with the fashion brand. </div> <div class="gmail_default"> According to the sources familiar to the matter, Reliance Retail is likely to get a huge concession of manufacturing 100% of all Gap products to be sold in India. Earlier, Arvind Fashion had the franchisee, which could only produce 70% of the products locally. Gap has been scouting for an India partner for more than a year, after it terminated its deal with Arvind Fashion in the previous year. However, Gap Inc refused to comment anything on the matter, whereas Reliance Group did not comment anything. Despite constant efforts like closing and pruning store sizes and increasing local sourcing for the brands in India, Arvind Fashions failed to turn Gap's India business profitable. Recently, the Indian apparel retail business has intensified further in India, ever since the entry of global players like Zara, H&M and Japan's Uniqlo, disrupting the markets. Gap is a household brand in the US but in India it is still a premium brand, which is out of the pockets for many potential buyers. Wrenching Covid-19 pandemic wrecked havoc on the company's business as its store's were shut for a large part of year in the wake of spreading virus, which lead to nationwide lockdown. Gap contributed less than 5% to the Arvind's revenue. Reliance Retail-owned online fashion platform Ajio already sells almost the entire collection for men, women and kids from Gap and is one of the largest stockists on Ajio. </div> <!--more--> <!--more--> <!--more--> <div> <div dir="ltr" data-smartmail="gmail_signature"> <div dir="ltr"></div> </div> </div>
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