Daily Archives: Tuesday September 25th, 2018

450 crore to raise flarewriting

Investor Profile

Mumbai- Flarewriting Industries, a leading manufacturer of pen and other writing materials in India, is planning to raise Rs 450 crore from the market. For this, the company has submitted a draft for the initial public offering (IPO) to the Capital Market Regulator, Indian Securities and Exchange Board (SEBI).

According to this draft, the company will raise Rs 450 crore via this IPO. Of this 330 crore will be in lieu of new equity shares while 120 crore will be mobilized through offer for sale (OFS). The promoter of the company Khubilal Jugraj Rath will raise Rs 24 crore by selling shares through OFS, while Vimalchand Gujarat Rs 18 crore and Nirmala Rathod, Manjula Rathod, Rajesh Rathod, Mohit Rathod and Sumit Kumar Rath will sell shares worth Rs 12-12 crore. Sangeeta Rath, Shalini Rathod and Sonal Rathod will raise Rs 6 crore by selling their equity shares.

The company will use the money collected from this IPO on machinery, which will cost Rs. 132.88 crores. While Rs. 69 crore on the construction of new factory building and related facilities, Rs. 40.49 crores for working capital and Rs. 15 crores as repayment of loans. Flair’s product is sold under its main brand Flair, while other brands, Pierc Cardin, Landmark and Rudy Kellner are also in its products. Since January 2017, the company has a special distributor of some special pen from India, while it sells 16 products under Pier Cardin.

The company produces products from its 6 manufacturing facilities. In this, there is the inclusion of Naigaon, Daman and Diu, Dehradun, near Mumbai. The company can sell 7 lakh equity shares through private placement which is equal to Rs 50 crore. Its book running lead managers include Axis Capital, Edelweiss Financial Services, etc.

OYO Hotel will raise 7,000 million

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Mumbai: Startup Oyo Hotel, which offers online hotel room booking facility in the country’s hospitality market, is going to raise about 7 thousand crore to increase penetration in China and other areas of the world. The company said on Tuesday that its current investors, including Softbank Vision Fund, Sequoia Capital Lipspace Venture Partners, have valued $ 800 million, while others have expressed their commitment to invest $ 200 million.

Oyo will invest 60 million dollars in this fund in China, where the company has started operations just 10 months ago. A source familiar with the development said that with this investment, the company’s funding value will reach $ 5 billion. Establishment of Oyo was done after a 24-year college dropout ran around India for almost 5 years. During the past two years, the company has also expanded its presence in China, Malaysia, Nepal and the United Kingdom.

With this extra funding, there is a plan to increase its penetration in these countries, while the company will continue to invest in technology and talent. We will also introduce new capital in our unique model, through which the company helps small hotel owners to create quality living space. ‘The company connects those hotels with their hotel website, where the rates of rooms start from Rs 1750 per night Are there. The hotel owner gives 25 percent commission.

NBFC shares fall 50%, better returns

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MUMBAI: In the shares of NBFC, the stock has seen a huge drop in their shares this month due to the price hike. The situation is that 50 per cent of their shares have fallen, due to which the investors are facing huge losses.

Statistics show that nearly 60 stocks of NBFCs have fallen and some of them have fallen to 50 percent. In this, Deewan housing financing fell 47 percent, Reliance Capital fell 28 percent, and Bajaj Finance dropped 16 percent. Recently, the decline in debt market liquidity has forced the analysts to review the strong NBFC again.

According to the report of Kotak Institutional Equities, we do not see any risk of NBFC risk in the near future. According to analysts, the business models of well-operated NBFCs are quite good and it works well in all the cycles, in which retail segments specifically focus. The focus of Kotak on NBFCs is that of LIC Housing Finance, PFC and REC etc.

Talking about HDFC, it has been suggested by analysts to buy at the target of Rs 2,020, which can go up to 10% from here. This bond is a big company in the market, which takes 54 per cent of the borrowed from NCD and CP. Similarly LIC Housing is expected to return 32 per cent and it has been advised to buy it at a target of Rs 580, which is currently trading at Rs 438. While 17% of the profit is expected in L & T Finance, the 31% return is expected in Magma Fincorp.

Banks will earn money off

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Mumbai- Government bank is not good news for babus. Soon they would lose their upper income which was in addition to their salary. Because the government believes that the commissioning of bank siblings on cross-selling products should be discontinued. In this regard, the letter has been sent to all the heads of banks from the government side. The government wants to put this commission in the bank’s account so that the bank’s income increases.

Explain that cross-selling products include products such as insurance and mutual funds, which the government bank’s babus are selling from Dhaltala these days. Outdated, they are given the goal of cross-selling products. Complaint has been made to the government several times for cross selling products on behalf of the bank union. The union says that the bank should focus on the task of giving loans to the babus and loan recovery, but they keep their focus on cross selling products.

The letter sent by the Finance Ministry to the bank chiefs said that the employees of the bank are full-time employees and they are given fixed salary instead. So they do not have to give separate commission. This commission should be deposited in the bank’s account. The Ministry has said that it has been observed that many times the bank employees ignore their original work to fulfill the goal of cross selling product.

Bank babu says that this may cause the loss of income to the bank as fees. Private banks pay a lot of fee for selling their third-party products to their employees, which will increase their business. State Bank of India, the country’s largest bank, increased its income by 10 percent in the last fiscal year. State Bank of India earns Rs. 1631 crores from cross selling products in the fiscal year.

IL & FS will have less problems

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Mumbai- The problems of IL & Fs struggling with cash crisis can be solved. The chairman of LIC, the largest shareholder, says every attempt of the company’s bail-out will be done. LIC Chairman has said that to do everything possible to save IL & FS, though the decision to increase the share in the company will not be decided yet.

Explain that LIC has 25.34 per cent stake in IL & FS. Here, IL & FS has said that most shareholders are ready to invest in the issues of Rs 4,500 crore rights issue. According to sources, HDFC, who has a large investment in IL & FS, has said that the company does not want to participate in the rights issue. Additionally, HDFC has clarified that the company did not demand the place on the board of IL & FS. Although HDFC believes that good assets are available with IL & FS. HDFC’s 9.02 percent stake in IL & FS

IL & FS plans to sell 25 properties for repayment of 17 thousand crore rupees. The company has defaulted on 3 commercial paper so far this month. The group says investors have expressed willingness to invest in 14 out of 25 assets. The company says that selling of 25 assets will reduce the debt of 35 thousand crore rupees. Finance Minister Arun Jaitley and RBI Deputy Governor Riral Acharya can discuss the effect of IL & FS defaults. Discussion on NBFC exposure in IL & FS is also possible.

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