The Metropolitan Stock Exchange of India (MSEI) plans to woo brokerages to execute large stock trades on its venue. The exchange is also developing short-term debt instruments to help mutual funds and insurance companies hedge their portfolios. Products launches in currency, interest rate futures and corporate bonds are also planned.
Backed by billionaires Rakesh Jhunjhunwala and Radhakishan Damani, MSEI aims to wade into the block deals segment, which is worth as much as Rs 5 trillion ($78 billion). India’s regulator defines a block as a single trade having at least 500,000 shares or a minimum value of Rs 5 crore. Money managers like dealing in large sizes because it ensures transactions are done before the market can hear about them and react by raising or lowering prices.
We are telling institutional investors to come to our platform—there will be no slippages or price impact, said Kumar, who was named chief executive officer last year to turn around the bourse. The MSEI is in talks with half a dozen large investment banks to bring in such deals, he said.
The MSEI, which has been making losses, expects to return to profitability by March 2020. We can lead in areas where the BSE and NSE have limited play, Kumar said.
A clutch of financial institutions now own more than 34% of MSEI, as do investors including Jhunjhunwala, Damani and Nemish Shah.
The MSEI got 250 companies to list exclusively on its venue—most of whom migrated from the 15 regional bourses the market regulator shut down three years ago—and slashed fees and transaction costs to levels it claims are the lowest in the country.
Metropolitan Stock Exchange of India (MSEI), India’s new stock exchange, is recognised by Securities & Exchange Board of India. It is India’s third functional and recognised stock exchange after BSE and NSE. There is huge demand for shares of MSEI due to strong listing of BSE and upcoming IPO of NSE.
Hero FinCorp is looking to raise up to Rs 1000 crore at a valuation of $1 billion at its next funding round. Credit Suisse has approached several large domestic and global private equity funds for a potential investment.
The company expects to be valued around $1 billion. In the last funding round, Hero FinCorp was valued at close to Rs 4,000 crore. Since then, the company’s loan book size has grown significantly.
A limited quantity of shares of Hero FinCorp are available for selling on first cum first serve basis. Offer valid till stocks last. So place your trades soon on 08108234400 or https://buysellunlistedshares.com/buysell/
In September, the non-banking finance company (NBFC) had raised Rs 1,000 crore from three investors, including Rs 570 crore from private equity fund firm ChrysCapital, Rs 132 crore from Credit Suisse Group and Rs 300 crore from Hero Group.
Hero FinCorp is the financial services arm of India’s largest two-wheeler maker Hero MotoCorp. Hero MotoCorp has a 40.3% stake in Hero FinCorp, while the rest is owned by other entities of Hero Group. Collectively Hero group owns 79% stake in Hero Fincorp. Hero FinCorp is led by Abhimanyu Munjal, the younger son of late Raman Munjal, elder brother of Pawan Munjal, chairman, managing director and CEO of Hero MotoCorp.
The NBFC has set a target of Rs 35,000 crore loan book size by 2020. A part of the equity funding received last year has been utilized for capitalising Hero Housing Finance Ltd, the home finance arm of the group incorporated in July last year.
ICICI Lombard plans to list on the stock markets soon once its gets Sebi approval for initial public offering (IPO) in next 2-3 weeks. The due diligence for the 13% stake sale to private equity players will be completed by end of the month.
A limited quantity of shares of ICICI Lombard are available for selling on first cum first serve basis. Offer valid till stocks last. So place your trades soon https://buysellunlistedshares.com/buysell/
ICICI Lombard’s IPO will be the first public listing by a general insurance firm in India. Last year, ICICI Prudential Life Insurance Co. Ltd raised Rs 6,000 crore in an initial share sale, the first public offering by an Indian life insurer. ICICI Bank sold a 12.63% stake through the IPO, which valued the life insurer at around Rs 48,000 crore.
ICICI Lombard General Insurance Company is a joint venture between ICICI Bank and Fairfax Financial Holdings, a Canada based diversified financial services company engaged in general insurance, reinsurance, insurance claims management and investment management.
We are selling shares of Sintex Plastics Technology which were demerged from Sintex Industries to unlock value. The stock will be listed in August 2017 (this month). There is no lock-in and shares can be sold on day of listing as well.
Sintex Plastics Technology is a leader in plastic products and comparable companies are Supreme Industries and Nilkamal Industries. Brokerages are expecting the stock to list near Rs 150.
Sintex Plastic Technology This business have infra and plastic segment and two sub-business inside through subsidiaries –
Custom Mouldings – Plastic and composite products moulded and fabricated across market segments such as aerospace & defense, automotive, electrical, mass transit, medical imaging etc.
Building Products – Following are the sub-segment of Building Product: a) Prefab – Sintex makes prefabricated structures like classrooms, toilets, healthcare centres, sheds etc. b) Monolithic – Designs and constructs monolithic buildings in India to address mass and low cost housing requirements. c) Others (Retail) – Sintex manufactures a wide range of consumer focused retail products which include water storage tanks, cold storage facility, environment friendly products, sub-ground structures etc.
Post listing the stock is expected to perform well and ultimately head higher as recent reports indicate that Sintex Industries Ltd, the world’s largest maker of plastic water tanks, is in talks with private equity (PE) funds to sell a minority stake in its newly demerged entity—Sintex Plastics Technology Ltd.
TPG Capital, Blackstone Group LP and Carlyle Group have shown interest in the company and separate discussions are on to sell a minority stake worth $200 million (Rs 1,300 crore).