Tag Archive for limited

TCNS Clothing Co. Limited allots Rs. 337.5 crores (47,14,210 equity shares) to 33 anchor investors at Rs. 716 per equity share

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By Vivek K.  Mobile: 09920183006 Email:indianshowbusiness@gmail.com

TCNS Clothing Co. Limited allots 47,14,210 equity shares at Rs. 716 per equity share (upper end of the Price Band) to 33 anchor investors aggregating to Rs. 337.5 crores. The anchor book is well distributed anchor book witnessing participation from global and local institutional investors.

Anchor book of INR 337.5 crores with bids from over 30+ schemes of 24 institutional investors
Well distributed anchor book witnessing participation from global and local institutional investors
Participation from various pockets of demand including FII long only investors, private equity funds, local mutual funds, insurance companies and alternative asset managers
60% of the anchor book allocated to FII long only and private equity investors and c. 30% allocated to local institutions
Marquee FII investors like Fidelity, Goldman Sachs, GMO, Steinberg, White Oak Capital and private equity sponsors like ChrysCapital participated as anchors
Few first time anchor investors in India IPO like Al Mehwar Investments (from Abu Dhabi) and Sylebra Capital from Asia participated
Among local institutions, Axis Mutual Fund, Birla Mutual Fund, ICICI Prudential Life Insurance, Sundaram Mutual Fund, Edelweiss group and IIFL group were key participants

Names of anchors:

1) FIDELITY SECURITIES FUND – FIDELITY BLUE CHIP GROWTH FUND – 8.58% of the total anchor portion, 2) FIDELITY INVESTMENT TRUST FIDELITY INTERNATIONAL DISCOVERY FUND – 6.73%, 3) FIDELITY SECURITIES FUND-FIDELITY SERIES BLUE CHIP GROWTH FUND – 2.02%, 4) GMO EMERGING DOMESTIC OPPORTUNITIES FUND, A SERIES OF GMO TRUST – 10.07%, 5A) Read more

HDFC Asset Management Company Limited: Initial Public Offer to open on July 25, 2018 and to close on July 27, 2018

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By Vivek K.  Mobile: 09920183006 Email:indianshowbusiness@gmail.com

(L-R) Piyush Surana, Chief Financial Officer, HDFC Asset Management Company Limited; Prashant Jain, Executive Director & Chief Investment Officer, HDFC Asset Management Company Limited; Milind Barve, Managing Director, HDFC Asset Management Company Limited; Deepak Parekh, Chairman, HDFC Asset Management Company Limited; Keki Mistry, Director, HDFC Asset Management Company Limited; Uday Kotak, Kotak Mahindra; Kaku Nakhate, Bank Of America Merrill Lynch at the announcement of the HDFC AMC IPO

HDFC Asset Management Company Limited (the “Company” or “Issuer”), proposes to open an initial public offering of up to 25,457,555 equity shares of face value of Rs. 5 Each (“Equity Shares”) for cash through an offer for sale of up to 8,592,970 Equity Shares by Housing Development Finance Corporation Limited and up to 16,864,585 Equity Shares by Standard Life Investments Limited (together, “Promoter Selling Shareholders” and such offering, the “Offer”). The Offer comprises a Net Offer to the Public of up to 22,177,555 Equity Shares (“Net Offer”), a reservation of up to 320,000 Equity Shares (constituting up to 0.15% of the post-Offer paid up Equity Share Capital) for purchase by the Eligible HDFC AMC Employees (as defined In “Definitions and Abbreviations”) (“HDFC AMC Employee Reservation Portion”), a reservation of up to 560,000 Equity Shares (constituting up to 0.26% of the post-Offer paid up Equity Share Capital) for purchase by the Eligible HDFC Employees (as defined in “Definitions and Abbreviations”) (“HDFC Employee Reservation Portion”) and a reservation of up to 2,400,000 Equity Shares (constituting up to 1.13% of the post-Offer Paid Up Equity Share Capital) for purchase by Eligible HDFC Shareholders (As defined In “Definitions and Abbreviations”) (“HDFC Shareholders Reservation Portion”). The Offer and the Net Offer shall constitute 12.01% and 10.46% of the Post-Offer Paid-Up Equity Share Capital of the Company, respectively. Read more

Jindal Stainless Limited consolidates its position, posts 2x jump in Q1 PAT

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

1 FY 19 key highlights

                                                                                                                   Standalone (in Rs crore)

Particulars

Q1 FY 18-19

Q1  FY17-18

 Growth

PAT

91

41

119%

Net Revenue

3,147

2,015

56%

EBIDTA

375

251

50%

After registering a robust turnaround in FY18, Jindal Stainless Limited (JSL) achieved a strong revenue and sales growth in Q1FY19, despite being a seasonally low first quarter. The growth stemmed from expansion in stainless steel flat product market, mainly driven by infrastructure spending, railway modernization, and auto segment, among others. At Rs 91 crore, profit after tax for Q1FY19 more than doubled over corresponding period last year (CPLY). A buoyant market for stainless steel led to higher sales volumes growth of 51% over CPLY.

Melt production grew by 45% in Q1FY19, as the company ramped up efforts towards debottlenecking and process balancing to optimise capacity utilization. Net revenue increased to Rs 3,147 crore, a growth of 56% over CPLY. EBIDTA for the quarter surged by 50% over CPLY, reaching Rs 375 crore. In CPLY, finance costs were extraordinarily lower on account of interest refund.

Commenting on the performance of the quarter, Managing Director, JSL, Abhyuday Jindal, said, “Our plant at Jajpur, Odisha, is one of the most modern stainless steel plants in the world with state-of-the-art facilities. The market outlook is conducive to propel volume growth. We have huge operating leverage and target to increase our capacity from 0.8 MTPA to 1.1 MTPA in near future through debottlenecking and process balancing with a minimum cash outlay. The Company has become eligible for exit from Corporate Debt Restructuring Scheme (CDR), basis the superior financial performance for the last two financial years. The consortium of lenders has already recommended CDR exit for Company and the matter is pending for voting in CDR forum.” Read more

TCNS Clothing Co Limited: Initial Public Offer to open on July 18, 2018 and close on July 20, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

(L-R): Mr. V Jayasankar (Kotak Mahindra Capital Company Limited), Mr. Anant Daga (Managing Director, TCNS Clothing Co. Limited), Mr. Venkatesh Tarakkad (Chief Financial Officer, TCNS Clothing Co. Limited) and Mr. Ravi Kapoor (Citigroup) at TCNS Clothing Co Limited IPO Press Conference held today in Mumbai.

TCNS Clothing Co. Limited (the “Company”), proposes to open its initial public offering of 15,714,038 Equity Shares on July 18, 2018 (the “Offer”). The Offer comprises an offer for sale by Onkar Singh Pasricha, Arvinder Singh Pasricha (together, the “Promoter Selling Shareholders”), Anant Kumar Daga, Saranpreet Pasricha, Angad Pasricha, Vijay Kumar Misra and Amit Chand (collectively, the “Other Selling Shareholders”) and Wagner Limited (“Wagner” or “Investor Selling Shareholder”). The offer shall constitute up to 25.63% of the post-offer paid-up equity share capital of our Company. Read more

Rajnish Wellness Limited Equity Shares list on BSE SME Platform at 5.26 % premium

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Mumbai based Rajnish Wellness Limited (RWL), engaged in the business of marketing and distribution of sexual wellness, energy revitalization and personal care products, became 255th SME Company to get listed on BSE SME Platform. The script made a strong debut and surged 12 per cent, post the listing. Stock opened at Rs 100 and touched a day’s high of Rs 104.7 a share.

The Lead Manager to the Issue is Navigant Corporate Advisors Ltd., and the Registrar to the Offer is Bigshare Services Pvt. Ltd. Read more

Varroc Engineering Limited Listing Ceremony

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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(L-R): The management of Varroc Engineering Limited Mr. Naresh Chandra (Chairman), Mr. Tarang Jain (Managing Director), Mr. Arjun Jain (President, Electrical BU), Mr. Vikram Limaye (CEO and MD) NSE, along with bankers and family members present for bell ringing ceremony at listing of Varroc Engineering Limited held today in Mumbai at the NSE.

(L-R): Mr. Tarang Jain (Managing Director) Varroc Engineering Limited and Mr. Vikram Limaye (CEO and MD) NSE while exchanging the memento at the listing ceremony of Varroc Engineering Limited held today in Mumbai at NSE.

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2-days IVH HCAP was conducted at Bathinda Unit & Township of National Fertilizers Limited

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Doctors and IVH team in Bhatinda

India Virtual Hospital’s Health Care Assistance Program (HCAP) which is a Unique Employee Health Assistance and Wellness Programme kickstarted at Bathinda Factory and Unit of National Fertilizers Limited, a leading public sector undertaking (PSUs).

With PSUs and Indian Corporate increasingly going in for effective healthcare & wellness programmes to provide a comprehensive welfare ecosystem to their employees, IVH HCAP is well suited to cater to their needs. It is a fine mix of health assistance and wellness model where the employees are rightly empowered to have a hassle-free treatment experience at effective costs, is continuously guided and counselled and is made aware of the benefits of good health leading to better productivity and satisfaction. Leveraging the wide Patient Care Partner Network across the country of India Virtual Hospital and robust technology module including IVH APP, IVH HCAP  seamlessly cater to 5 major requirements of the working professionals — Quick and Timely Medical Support, Proper Guidance and Personalised Care, Choice of Multiple and Cost-effective Healthcare Options, Wellness, Occupational & Preventive Health Programmes, Special Discounts & Rates for Corporates. Read more

KAY2 Steel Limited Organises Channel Partner Meet

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

KAY2 Steel Limited, the youngest and fastest growing TMT Bars players in the country, organised channel partner meet for its Delhi, Uttar Pradesh, Haryana and Uttarakhand based dealers. Shri Sunil Agarwal, Director, Kay2 Steel Ltd and Mr. Sachin Agarwal, Director, Kay2 Steel Ltd addressed the event held at Hotel Vivanta By Taj, New Delhi. Approximately 300 dealers and distributors of these states attended the event.

Addressing the channel partner meet Mr. Sunil Agarwal, Director, KAY2 Steel Ltd. said, “’KAY2 TMT’ has become one of the fastest growing brand in the steel TMT bar segment in North India and this milestone is worth celebrating. We congratulate our channel partners for their strong performance and appreciate their efforts in making ‘Kay2 TMT’ a household name. We are planning to strengthen our presence in the region further by promoting ‘KAY2 TMT’ even in the remotest markets.”

Northern India is a key market for KAY2 Steel Limited owing to the robust real estate and infrastructural development in the region. To meet the growing demand of ‘Kay2 TMT’, Kay 2 Steel Limited has rapidly augmented its production capacity in the region by increasing the number of franchise manufacturing partners. KAY2 Steel Limited sells ‘KAY2 TMT’ through its strong network of 400 dealers and distributors spread across this region.

Addressing the dealers on the occasion, Mr. Sachin Agarwal, Director, KAY2 Steel Ltd. said, “We recognize the contributions of dealers who have played a major role in boosting the sales of ‘KAY2 TMT’. We are looking forward to a formidable and beneficial association with our dealers which should be a win-win for both.” Read more

Bhatia Communications and Retail Limited EBITDA jumps 250% in FY18, records PAT growth of 600%

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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Bhatia Communications and Retail Limited, a leading mobile and accessories retail in Gujarat has announced a growth of 250 percent in Earnings Before Interest, Tax, and Depreciation and Amortisation (EBITDA) for the year 2017-18. It stood at Rs 7 crore as against Rs 2 crore in the previous financial year 2016-17.

For the financial 2017-18, the Profit After Tax (PAT) was of Rs 3.5 crore as compared to Rs 0.5 crore in the past financial year, thereby registering a 600 percent year-on-year (YOY) growth after including tax and other regulatory gains.

Meanwhile, the total income of the company was Rs 167 crore as compared to Rs 133 crore in the past year, thereby registering a growth of 26 percent on YoY basis.

“We are very happy with the results as it implies that we are heading in the right direction. The improvement in the bottom line is result of efficient inventory management. We are thankful to our investors who trusted us throughout the journey and also gave us the confidence to expand the business in other potential geographies as well. We are overwhelmed with initial response and are working hard to utilise the funds in most optimal manner to ensure stake holders’ better returns, said Sanjeev Bhatia, Founder of Bhatia Mobiles. Read more

Varroc Engineering Limited: Initial Public Offer to open on June 26, 2018 and to close on June 28, 2018

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Mr. Mickey Doshi (Credit Suisse Securities (India) Private Limited), Mr. Arjun Jain (President, Electrical BU, Varroc Engineering Limited), Mr. T R Srinivasan (Group CFO, Varroc Engineering Limited), Mr. Tarang Jain (Managing Director, Varroc Engineering Limited), Mr. Ashwani Maheshwari (CEO, India Business, Varroc Engineering Limited), Mr. Ravi Kapoor (Citigroup Global Markets India Private Limited) and Mr. Subhrajit Roy (Kotak Mahindra Capital Company Limited) at Varroc Engineering Limited IPO Press Conference held today in Mumbai.

Varroc Engineering Limited (the “Company”), proposes to open the Offer on June 26, 2018, an initial public offering of 20,221,730 Equity Shares through an offer for sale by the promoter and investor selling shareholders (as defined below) (the “Offer”). The Offer consists of an offer for sale of (i) up to 1,752,560 Equity Shares by Mr. Tarang Jain (“Promoter Selling Shareholder”), (ii) up to 16,917,130 Equity Shares by Omega TC Holdings Pte. Ltd. (“Investor Selling Shareholder 1”) and (iii) up to 1,552,040 Equity Shares by Tata Capital Financial Services Limited (“Investor Selling Shareholder 2”). The Offer also includes a reservation of 100,000 Equity Shares, for subscription by eligible employees (the “Employee Reservation Portion”) at a discount of Rs. 48 per share on the Offer Price (“Employee Discount”). The Offer less the Employee Reservation Portion is the “Net Offer” and such Net Offer aggregates up to 20,121,730 Equity Shares. The Offer and the Net Offer shall constitute 15% and 14.93%, respectively, of the post-offer paid-up equity share capital of the company. Read more