Source:
Monday, 28 June 2021
Reliance Retail Limited Latest Updates - 2021
Source:
Meeting highlights – 44th
Annual General Meeting.
Wednesday, 23 June 2021
Monday, 21 June 2021
Care Health Insurance - IPO News Article
Care Health Insurance ltd.’s holding company,
Religare Enterprises Ltd, is in talks with investment banks over a planned
listing of Care Health Insurance ltd.’s shares.
According to market insiders, Care Health Insurance
is mulling an initial public offering (IPO) of up to 2,000 crore in which it
aims to issue new shares. The management, on the other hand, stated that they
are unable to comment on the status of the IPO in particular.
Care Health, which had a gross premium of 2,560
crore in FY21, provides health insurance, critical illness insurance, personal
accident insurance, as well as other insurance services.
Given the fact that the standalone health
insurance industry expanded at a rate of 21% in FY20, the company's overall
business rose by 31%. In FY20, the company made a profit after tax of 65.65
crore.
*Source- Annual Report of the Company & Economic Times- https://economictimes.indiatimes.com/markets/ipos/fpos/religare-plans-2000-cr-ipo-for-care-health/articleshow/83617197.cms
Wednesday, 16 June 2021
Five Star Business Finance (FSBL) is eyeing an IPO in the next 12 to 18 months.
*Source- Annual Report of the Company & Moneycontrol News Section- https://www.moneycontrol.com/news/business/startup/we-did-not-grow-until-we-perfected-the-business-model-five-star-finance-chairman-6722021.html
Tuesday, 8 June 2021
Paytm to lend Rs 743 crore to two Vijay Shekhar Sharma companies ahead of IPO
One97 Communication Ltd , parent company of online payments app Paytm is set to extend Rs 743 crore funding to two companies owned by founder Vijay Shekhar Sharma. This development comes ahead of the $3 billion IPO planned later this year. The proposal will be put to vote at the company's annual meeting on June 30.
According
to the proposal, as sent in a note to shareholders after Paytm board meeting on
May 28, the company will buy Rs 491.93 crore of optionally convertible
debentures to be sold by VSS Holdings Pvt Ltd, where Vijay Shekhar Sharma (VSS)
is a director. The debentures will mature in 10 years and bear an annual
interest rate of 15 per cent, as mentioned in a report in Livemint.
The
note, as per the daily, stated that the funding will be one in one or more
tranches. The payments company will own 96 per cent in VSS HoldCo on converting
the debentures into shares that can be done at any point.
VSS
HoldCo will utilise the funds for its primary business activities in the
country. VSS HoldCo is involved in activities related to financial
intermediation.
The
other loan, as proposed, is an amount of Rs 250.79 crore to VSS Investco Pvt
Ltd through inter-corporate deposits or ICDs. This is likely to be done in one
or more tranches.
In
the note to shareholders, VSS Investco will have to repay the amount within 12
months or before Paytm's IPO, stated the company. Sharma will raise external
funding or sell his shares in the company to repay the loan. This amount will
also be used for principal business activities.
Paytm is one of the leading players in the payment space in
the country. Due to the increase in demand for digital transactions amid the
pandemic, Paytm's valuation rose significantly to more than $25 billion in the
last 18 months. The company is aiming to launch its IPO in November this year.
The IPO might witness partial exit of existing investors including SoftBank.
Source- Business Today
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