CDSL public offer to impact BSE:

The coming initial public offering (IPO) of equity in Central Depository Services (CDSL) will impact its parent, BSE, in multiple ways. First, there will be capital gains, as BSE’s stake in the company will come down to 24 per cent, from 50 per cent. In fact, BSE had sold a 4.15 per cent stake in CDSL for Rs 34 crore during the December 2016 quarter and booked some gains. Second, given the sticky nature of CDSL’s revenues and high margins, it contributed 36 per cent to BSE’s consolidated net profit and 18 per cent to its revenue in FY17.  With a lower share, …

For more details, click on the following link:

http://www.business-standard.com/article/markets/cdsl-public-offer-to-impact-bse-117061600033_1.html

Galaxy Surfactants: Taking risk for success

Risk is associated with growth. The greater the risk, the bigger the chance of growth. Taking risk is thus not only a business strategy but can also be a life-changing experience. Take the case of the founders of Galaxy Surfactants that is a leading manufacturer of surfactants and specialty chemicals which are used as intermediate raw materials by marquee brands.

The story of how Galaxy Surfactants came into being goes all the way back to 1979, when G. Ramakrishnan or Geera, wrote a letter addressed to his four friends on Valentine’s Day. The letter harked about a vision of growth and prosperity and set out a way to achieve that “definite goal”. The letter was so convincing that all five (including Geera) quit their high paying jobs and plunged headlong into the business. And they never had to regret that momentous decision.

Five friends shocked their families and friends by chucking their high paying jobs even before they could zero in on a business plan.  This move largely influenced by Alexander the Great was to ensure that they did not have an exit options. Success was their only option and they used that option to the hilt.

For more details, click on the following link:

http://www.moneycontrol.com/news/trends/features-2/galaxy-surfactants-taking-risk-for-success-2305171.html

Eyeing a relevant spot among exchanges:

Back in 2012, when the MCX Stock Exchange (MCX-SX) was working towards starting its equity segment, its actions were being closely watched by the existing two stock exchanges – the BSE and the National Stock Exchange (NSE). To be fair, the unveiling in February 2013 did make an impact, albeit for a short period of time.

Enhanced technology got a foot in the door while brokers saw benefit as membership fees came down drastically. For the first time, perhaps, there was disruption in a segment where the NSE was the dominating big brother and BSE was a distant second with no third player in the fray.

But much water has flowed under the bridge since then. Today, there is no MCX-SX. What exists is the rechristened Metropolitan Stock Exchange of India (MSEI) and even after being in business for close to a decade – it started its currency trading segment in 2008 – it is still trying to find a place in the hugely competitive exchange space.

For more details, click on the following link:

http://www.thehindu.com/business/Economy/eyeing-a-relevant-spot-among-exchanges/article18961348.ece

Are PNB HF’s premium valuations sustainable?

Since making its debut on the bourses on November 7 last year, PNB Housing Finance (PNB HF) has rewarded investors handsomely. The stock has more than doubled in this period (over its issue price) to Rs 1,649. Valuations, too, have re-rated, with its price to book valuations having raced ahead of larger peers like Indiabulls Housing Finance (Indiabulls HF) and Dewan Housing Finance Corporation (DHFL). At current levels, PNB HF trades at 4.4 times the FY18 estimated book, as against 3.6 times and 1.7 times for Indiabulls HF and DHFL, respectively. Though some factors that differentiate PNB HF from its peers, these premium valuations appear sustainable.

For more details, click on the following link:

http://www.business-standard.com/article/finance/are-pnb-hf-s-premium-valuations-sustainable-117061500043_1.html

ICICI Lombard shares gain traction in grey market as IPO nears:

ICICI Bank’s nod to the initial public offering (IPO) of its general insurance subsidiary, ICICI Lombard, has given a boost to the latter’s share prices in the grey market. According to sources, Lombard’s share price has surged to Rs 550 per share, from Rs 450 a week ago. Notably, Fairfax’s recent 12 per cent stake sale in Lombard has bumped up its valuation to Rs 20,300 crore. In 2015, Lombard was valued at Rs 17,200 crore, based on Fairfax’s purchase of a nine per cent stake in the company.  Ashley Coutinho More AMCs plan to go public   Last …

For more details, click on the following link:

http://www.business-standard.com/article/markets/icici-lombard-shares-gain-traction-in-grey-market-as-ipo-nears-117061200012_1.html

CDSL IPO offers growth at a reasonable price:

High operating profit margins, stable revenue streams along with the addition of new growth avenues strengthen the prospects of India’s second largest depository – Central Depository Services (CDSL). Promoted by BSE, the company is looking to raise up to Rs 524 crore through its initial public offering (IPO) slated to open for subscription on June 19. The depository, which holds securities in an electronic form, operates in an industry with high entry barriers and has limited capex requirements going forward. Large part of its costs are towards technology upgradations and …

For more details, click on the following link:

http://www.business-standard.com/article/opinion/cdsl-ipo-offers-growth-at-a-reasonable-price-117061401443_1.html

Hero FinCorp likely to pick-up Future Enterprise’s 50% stake in Future Generali: Sources:

Metropolitan Stock Exchange to launch corporate bond platform in July:

Aiming to widen its market presence, Metropolitan Stock Exchange of India (MSE) will launch its corporate bond platform in July and is also planning to bring in a slew of products in equities and derivatives segment later in the current financial year.

With the launch of new products MSE is targeting to increase its market share to 15-20% in non-equity segments and by nearly 5% in equities. The market is largely dominated by the two other national bourses — the National Stock Exchange (NSE) and BSE.

“The corporate bond segment will be launched in July. MSE is launching electronic book building platform for bond raising on the exchange platform, subsequent listing and trading in these securities,” MSE COO (strategy & development) Abhijit Chakraborty told PTI.

“The e-booking software has additional features of live viewing of quotes and facility to modify bids,” he added.

For more details, kindly click on the following link:

http://www.livemint.com/Money/eBiHYeN6wIxSJJlgrkPk3O/Metropolitan-Stock-Exchange-to-launch-corporate-bond-platfor.html

ICICI Lombard gets ICICI Bank board approval for IPO:

The board of ICICI Bank has approved the stake sale in its general insurance venture ICICI Lombard General Insurance through an initial public offering (IPO). The bank’s life insurance venture ICICI Prudential Life Insurance is the first and only listed insurance entity in India.

“The size and other details of the offer would be determined in due course,” it said. ICICI Lombard is a joint venture between ICICI Bank and Fairfax Financial Holdings.

However, sources said that the bank may pare down 8-10 percent for the stake sale. The bankers for the deal have almost been shortlisted and the timeline would also be decided in the next few months.

In a statement to the exchanges, the Bank said that their board on Monday approved the sale of a part of its shareholding in ICICI Lombard in an initial public offering by the company, subject to requisite approvals and market conditions.

For more details, kindly click on the following link:

http://www.moneycontrol.com/news/business/ipo-business/icici-lombard-gets-icici-bank-board-approval-for-ipo-2297341.html

CDSL to launch its IPO this month:

Securities depository in India, Central Depository Services (India) Limited is planning to come up with initial public offering. After grand listing of BSE Limited with a premium of 35%, investors are bracing for CDSL IPO. The objectives of the IPO are to achieve the benefits of listing and to enhance its visibility and brand image and provide liquidity to its existing shareholders.

The tentative date for the IPO is out. The IPO issue is likely to open on June 19 and closing on June 21, 2017. It is likely to follow book building process wherein price band is fixed at Rs 113 to Rs 115 per equity share. The minimum order quantity is one market lot which constitutes 130 shares.

The issue size stands at 3,51,67,208 equity shares.

For more details, click on the following link:

http://www.indiainfoline.com/article/news-top-story/cdsl-ipo-ipo-watch-cdsl-to-launch-its-ipo-this-month-117060100538_1.html

Secondary Market Values ICICI Lombard at Rs 26kcr :

The secondary market values general insurer ICICI Lombard 30 per cent higher than the Warburg Pincus deal which valued the insurer at Rs 20,000 crore. The general insurer, planning to be the first to be listed, is fetching a premium because those with Esops are selling shares at Rs 550-570 apiece valuing the insurer at Rs 26,000 crore in the secondary market, said sources in know of the situation.

On Saturday, ICICI Lombard General Insurance said its foreign partner, Canada-based Fairfax, has offloaded part stake of 12.18 per cent to a clutch of investors, including Warburg Pincus, for Rs 2,473 crore. Experts expect heightened off-market activity post the deal.

For more details, kindly click on the below link:

http://economictimes.indiatimes.com/markets/stocks/news/secondary-market-values-icici-lombard-at-rs-26kcr/articleshow/58905381.cms

ICICI Lombard may be first private general insurer to go public this year:

Tata Technologies buys Swedish engineering & design specialist Escenda:

HDFC Life inks distribution tie-up with Catholic Syrian Bank:

HDFC Life today said it has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers.

With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base across all its branches over a period of time, a release said.

“We are proud to announce our partnership with Catholic Syrian Bank, our first bank partnership in Kerala. In keeping with our endeavour to increase our reach and access customers across geographies, this partnership would enable us to offer our products to over 1.5 million customers of Catholic Syrian Bank across Kerala and other states,” said HDFC Life Managing Director and CEO Amitabh Chaudhry.

MSEI to launch new interest rate futures contracts tomorrow:

Metropolitan Stock Exchange of India Ltd (MSEI) will introduce tomorrow new 10-year interest rate futures (IRF) contracts offering 6.79 per cent yield on central government bonds. The contracts would mature in 2027 and are available to entities like banks, primary dealers, mutual funds, insurers, FIIs, corporates and retail investors, for trading on the exchange’s platform, MSEI said in a statement today.

“The stock exchange will launch the new IRF contracts on May 16,” MSEI said. Other national bourses, BSE and NSE would also be launching similar contracts tomorrow.

For more details, kindly click the following link:

MSEI to launch new interest rate futures contracts tomorrow