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CreditAccess Grameen Ltd. allots Rs. 339.36 cr to 23 anchor investors at Rs. 422 per Equity Share

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

  • Initial Public Offer to open on August 8, 2018 and to close on August 10, 2018
  • Price Band: Rs. 418 to Rs. 422 per Equity Share

CreditAccess Grameen Limited (the “Company” or “Issuer”), allotted 80,41,617 equity shares to 23 anchor investors at Rs. 422 per Equity Share (upper end of the Price Band) aggregating to Rs. 339.36 crore.

Anchor investors include: 1) NEUBERGER BERMAN EMERGING MARKETS EQUITY FUND 13.26%; 2) ICICI PRUDENTIAL BANKING AND FINANCIAL SERVICES FUND 11.79%; 3) EASTSPRING INVESTMENTS INDIA EQUITY OPEN LIMITED 10.81%; 4) PICTET – INDIAN EQUITIES 9.43%; 5) SUNDARAM MUTUAL FUND A/C  SUNDARAM RURAL AND CONSUMPTION FUND 7.37%; 6) HDFC STANDARD LIFE INSURANCE COMPANY LIMITED 5.89%; 7) EDELWEISS ALTERNATIVE INVESTMENT OPPORTUNITIES TRUST-EDELWEISS CROSSOVER OPPORTUNITIES FUND 5.75%; 8) TATA VALUE FUND SERIES 1 4.42%; 9) CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED 4.13%; 10) MIRAE ASSET INDIA SECTOR LEADER EQUITY FUND 3.31%; 11) IIFL FOCUSED EQUITY FUND 2.95%; 12) BNP PARIBAS ARBITRAGE 2.48%; 13) CANARA ROBECO MUTUAL FUND A/C CANARA ROBECO EQUITY TAX SAVER FUND 2.36%; 14) MIRAE ASSET INDIA SOLOMON EQUITY INVESTMENT TRUST 1 1.99%; 15) BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED 1.87%; 16) EASTSPRING INVESTMENTS-INDIA EQUITY FUND 1.86%; 17) HSBC SMALL CAP EQUITY FUND 1.51%; 18) TATA VALUE FUND SERIES 2 1.48%; 19) TATA BANKING & FINANCIAL SERVICES FUND 1.48%; 20) INDIA ACORN FUND LTD 1.47%; 21) AL MEHWAR COMMERCIAL INVSTMENTS LLC – (WHITING) 1.47%; 22) ASHOKA INDIA EQUITY INVESTMENT TRUST PLC 1.47%; 23) ASHOKA PTE LTD 1.47 %.

The Company proposes to open on August 8, 2018, an initial public offering of equity shares of Face Value of Rs. 10 each (“Equity Shares”) for cash at a Price per Equity Share (including a Share Premium) (“Offer”) comprising a fresh issue of up to [●] Equity Shares aggregating up to Rs. 6,300 million (“Fresh Issue”) and an offer for sale of up to 11,876,485 Equity Shares by the Promoter, CreditAccess Asia N.V. (“Promoter Selling Shareholder” and such offered shares, the “Offered Shares”) (“Offer For Sale”).

The Bid/Offer Period closes on August 10, 2018.

The Price Band for the Offer is from Rs. 418 to Rs. 422 per Equity Share. Bids can be made for a minimum lot of 35 Equity Shares and in multiples of 35 Equity Shares thereafter.

The Equity Shares are proposed to be listed on BSE and NSE.

The Book Running Lead Managers (“BRLMs”) to the Offer are ICICI Securities Limited, Credit Suisse Securities (India) Private Limited, IIFL Holdings Limited and Kotak Mahindra Capital Company Limited. Read more

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

Max Life Insurance to distribute Rs. 1,084 crore as bonus to its participating policyholders

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

Max Life Insurance, one of the leading life insurance companies of India, announced bonus for its participating policyholders. During the period July 1, 2018 to June 30, 2019, Max Life Insurance will be paying Rs.1,084 crore as policyholder bonus on the participating policies in-force, an increase of 27% over Rs. 854 crore in the same period in the previous year. The bonus distribution will benefit ~15 lacs participating policyholders of Max Life Insurance. This is the 16th year in a row when Max Life Insurance has announced bonus.

 

Max Life Insurance’s participating policyholder fund at Rs. 26,570 crore (as on 31st March, 2018) is one of the largest in the industry and has grown at Compounded Annual Growth Rate (CAGR) of  ~35% over 10 years. This indicates trust Max Life’s customers have reposed in its participating plans. Read more

NTPC Inks Rs. 1,500 crore Term Loan with HDFC Bank

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

NTPC Signs Term Loan of Rs 1500 crore with HDFC Bank

NTPC, India’s largest power generating company, has signed term loan agreement for Rs. 1,500 crore with HDFC Bank Limited on 10th July, 2018 for its various projects. The loan has a door-to-door tenure of 15 years and will be utilised to part finance the capital expenditure of NTPC and has been extended at an interest rate linked to 3-months Marginal Cost of funds based Lending rate (MCLR) of the bank. Read more

Poonam Pandey to get Rs 1 crore for Football Final Match

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

Poonam Pandey

Poonam Pandey is all set to attend  the screening of final football match on 15th July  at an event in ASia’s Biggest Club in Nepal.
The actress will reportedly get a hefty amount of Rs 1 crore for the event taking place in Nepal at Club Dejavu, Kathmandu.
Managing director of the Club Manoj Shrestha said, “It was a delight to have Poonam agree to attend the screening and Cheer with the audience for football final match.” Read more

India’s Largest Community Development Fund – Rs. 100 Crores (US $ 14.7 Million) Fund Announced to Rotary Foundation

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

Rotarian Dokoju Ravishankar announced the single largest community fund Rs. 100 Crores to Rotary Foundation. This endowment will be utilized to cover projects across six Focus Areas such as Economic & community development, Disease Prevention & Treatment, Water & Sanitation, Maternal & Child Health, Basic Education & Literacy and Economic & Community Development. Seen from L - R: Rtn Suresh Hari S, District Governor of RI District 3190, Mrs.Paola Ravishankar, Rotarian Dakoju Ravishankar.

In a first-of-its kind move, a single donor has come forward to announce the single largest community fund from India to Rotary Foundation at INR. 100 Crores (US $ 14.7 Million). The same was announced at the installation ceremony of Rotarian Suresh Hari as the new District Governor of Rotary International District 3190. Suresh Hari, a member of Rotary Bangalore Indiranagar Club, Vice President of CREDAI Bengaluru and Founder & Managing Partner of Vishal Promoters and Builders, Bengaluru. He was also the Past National President of Round Table India. The large fund income out of Endowment will be utilized to cover projects across six Focus Areas such as Economic & community development, Disease Prevention & Treatment, Water & Sanitation, Maternal & Child health, Basic Education & Literacy and Economic & Community Development. Read more

Fine Organic Industries Limited: Initial public offering of equity shares of face value Rs. 5 each (the “Equity Shares”) to open on June 20, 2018* and to close on June 22, 2018

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

Mr. Devan Kampani (JM Financial Limited), Mr. Tushar Shah (Chief Financial Officer, Fine Organic Industries Limited), Mr. Prakash Kamat (Chairman, Fine Organic Industries Limited), Mr. Mukesh Shah (Managing Director, Fine Organic Industries Limited), Mr. Jayen Shah (Chief Executive Officer, Fine Organic Industries Limited) and Mr. Jibi Jacob (Edelweiss Financial Services Limited) at Fine Organic Industries Limited IPO Press Conference held in Mumbai today.

Fine Organic Industries Limited (the “Company”) proposes to open on Wednesday, June 20, 2018*, an initial public offering of 7,664,994 Equity Shares through an offer for sale by the promoter group selling shareholders (the “Offer”). Read more

JM Financial Credit Solutions Rs. 750cr NCD Issue oversubscribed 2.19 times

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

Mr. Shashwat Belapurkar, CEO, JM Financial Credit Solutions Limited, said, “We are overwhelmed by the response to JM Financial Credit Solutions Ltd.’s maiden Public Issue of NCDs, which also has the distinction of being the first from the JM Financial Group. Overall, the Public Issue of NCDs (including Greenshoe Option) was oversubscribed 2.19 times leading to a total subscription of Rs. 1,646 crore. Retail Investors (Category IV) and HNIs (Category III) have invested a total amount of around Rs. 1,468 crore, which is more than total NCD Issue size of Rs. 750 crore (including Greenshoe Option). The oversubscription of over 3.6 times in the Retail Investors category justifies our higher proportion of 30% allocation ratio to Retail Investors in the basis of allotment. The success of our NCD Public Issue sets a new benchmark for a wholesale NBFC such as JMFCSL that provides integrated financial solutions to real estate developers with a focus on residential project financing. This is a testimony to the success of the transformational changes in the real estate sector and will further deepen the Indian debt markets inviting meaningful long term wider public participation in debt offerings from wholesale NBFCs.” Read more

Gravita India FY18 PAT at Rs. 45.21 crore; up 48 per cent

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

Gravita India Limited (NSE: GRAVITA, BSE: 533282), a leading recycling multinational company declared its financial results for the quarter and financial year ended March 31, 2018.

Gravita’s Profit After Tax surged to Rs.11.11 crore as against Rs. 9.34 crore for the corresponding quarter last year. PAT margin stood at 3.07 % in Q4 FY18 versus 4.39 % in Q4 FY17.

Commenting on the results, Mr. Rajat Agrawal, MD at Gravita India said, “We are pleased to announce the results and they are in-line with our expectations. Our recently commissioned commercial production of Lead Tetra Oxide at Jaipur and PPCP Granules Lines at Chittoor plant;  the recent order-win from Singapore will strengthen our top line and bottom line in FY18-19.”

Highlights of Consolidated Q4 FY18 Performance

  • Fourth quarter total revenue increased to Rs. 362.44 crore from Rs. 212.65 crore in Q4FY 17, up 70.44 %

  • The EBITDA in Q4 FY18 stood at Rs. 24.99 crore from Rs. 19.20 crore; up 41.29 % in the same period last year.

  • Q4 Net Profit rose by18.94 % to Rs. 11.11 crore up from Rs. 9.34 crore in FY 17. Read more

ICE Make FY18 Net Profit rises 32.19 % to Rs 6.63 cr

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

Ice Make Refrigeration Limited (Ice Make), one of the leading manufacturer & supplier of cooling solutions equipment, has announced its financial results for FY18 and the second half of financial year ended March 31, 2018.

The Company’s net profit for FY18 rose by 32.19 % to Rs 6.63 crore compared to Rs 5.10 cr posted in FY17.

The Company’s total revenue grew by 15.70% to Rs. 101.68 Crore as compared to Rs 87.88 Cr reported in the corresponding financial year (FY17)

The Company’s revenue for the second half of FY 2018 grew at 16.31% to Rs 61.42 Crores while net profit for the period rose by 30.03% to Rs 4.49 Crores.

During the year Company’s EBIDTA went up by 0.92 % YoY to Rs 12.38 crores while EBIDTA Margin improved to 12.25% compared to 11.33% in FY’17. PAT Margin improved to 6.52% compared to 5.71% in FY’17

The Board of Directors of the Company at its meeting held on May 24, 2018 recommended final dividend of Rs 1.00 per equity share of Rs 10/each, for the financial year ended 31 March 2018. Read more