EQUIRUS CAPITAL AND EDELWEISS FINANCIAL SERVICES
Financial audit, top-deck rejig at Medikabazaar; GCCs woo more techies
A financial audit and top-level reshuffle are in the works at business-to-business (B2B) startup for medical supplies Medikabazaar. Details on this and more in today’s ETtech Morning Dispatch.
Equirus announces Sahil Shah as new CIO & fund manager of their Long Horizon Fund
Equirus today announced the appointment of Sahil Shah as the new fund manager of Equirus Long Horizon Fund (ELHF) and their Chief Investment Officer (CIO).
Beyond public market: The growing appeal of alternatives in India
The asset management industry in India has witnessed substantial growth, particularly in alternatives like AIFs, InvITs, and REITs. Private market alternatives offer access to previously unavailable asset classes, but investors should carefully assess asset managers for rigorous evaluation processes and proven track records.
Can't pay mutual fund SIP? Missing SIP installment attract hefty penalty; how to decide when to pause or stop SIP
Mutual fund SIP: What happens when you miss your mutual fund SIP installment due to insufficient balance? Do you have to pay a penalty if you don't have money in your bank account to pay your SIP installment? If you can't afford to continue a SIP, should you pause it or exit — how can you make that decision? ET Wealth Online spoke to several experts to find out how to decide when to pause your SIP and when to stop it.
Go Digit Insurance IPO: GMP, price band among 10 things to know before subscribing to the issue
Go Digit Insurance IPO consists of fresh equity issue of Rs 1,125 crore and an OFS of up to 5.47 crore shares. While promoter Go Digit Infoworks will offload stakes, Virat Kohli and Anushka Sharma will continue to be investors. Its price band has been fixed Rs 258-278 apiece.
Edelweiss Alternatives acquires IT park in Bengaluru for over Rs 1,500 cr
Edelweiss Alternatives acquired a 1.1-million-sq-ft IT park in Bengaluru from MFAR Developers, marking the largest buyout of office towers this year within Embassy Manyata. Subahoo Chordia manages the Rental Yield Plus Fund.
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Trideep Bhattacharya on 3 sectors with comfortable valuations and good earnings growth prospects
Trideep Bhattacharya discusses the market's growth, telecom and cement sectors, real estate dynamics, and power supply chain components. He emphasizes sector-specific developments, policy impacts, and future prospects, highlighting the resilience and potential re-rating of various sectors. IT services, power supply chain and real estate are the 3 sectors from where he picked stocks in the last 3 months due to their comfortable valuations and good earnings growth prospects.
About 41 PMS mid- & smallcap schemes gave negative returns in Feb; are good times over?
Midcap and smallcap schemes managed by portfolio management services firms saw negative returns in February. Equitree Capital Advisors, Saurabh Mukherjea, Aequitas Investment Consultancy, Ambit Investment Advisors, Geojit Financial Services, Equirus Wealth, PGIM India, and Care Portfolio Managers were among the firms that gave negative returns.
Virat Kohli-backed Go Digit among three IPOs approved by Sebi
Digit's IPO has hit multiple hurdles over compliance issues, which delayed approval for the public offer. Sebi had returned the draft offer document twice as the regulator raised concerns over share issuance.
Mind Over Money: This IIT, IIM alumni MD & COO is an avid reader, does Vipassana and trekking to keep mentally fit
Shilpa Gupta discusses her experience with Vipassana meditation and its impact on her mental fitness. She was introduced to Vipassana at the age of 24 by her family and found it life-altering. Vipassana teaches mindfulness and equanimity, leading to increased awareness, self-control, and peace. Gupta practices Vipassana daily and has attended eight ten-day courses. She believes that Vipassana helps her deal with the challenges of life and improves her focus. Additionally, Gupta shares her love for trekking and the importance of having a strong mind in difficult situations.
ETMarkets Smart Talk: Earnings, capital flows to dictate market trend in 2024: Bhavesh Shah
"The election results, if turned out as expected, would cement the sentiment and the market would look for continued impetus towards infrastructure spending and policies from the government that nurture growth of the economy. Earnings would also be a major driver of the direction of the markets going forward. With Nifty 1-yr forward PE trading at 21.35x currently, there is an expectation for growth in earnings."
Solid Start! Gandhar Oil shares list at 76% premium over IPO price
Gandhar Oil received a better-than-expected subscription demand at 64x for its IPO, mainly on the back of reasonable valuations. The net proceeds from fresh issuance worth Rs 357 crore will be used towards financing the repayment/pre-payment of a loan facility, purchase of equipment and civil work, expansion in capacity of automotive oil, petroleum jelly, white oils by installing blending tanks, funding working capital requirements and general corporate purposes.
From broken neck at birth to Wall Street success, the extraordinary life of Edelweiss CEO Radhika Gupta
Radhika Gupta, CEO of Edelweiss Asset Management and the new Shark Tank India member, shared her remarkable journey with students, including overcoming thoughts of suicide after job rejection. From a broken neck at birth to Wall Street success, Gupta encourages embracing uniqueness and overcoming challenges.
Gandhar Oil Refinery IPO to open on November 22. Here are 10 things to know about the offer
Gandhar Oil is a leading manufacturer of white oils with a growing focus on the consumer and healthcare end-industries. Its product suite comprised over 350 products primarily across the personal care, healthcare and performance oils, lubricants and process and insulating oils divisions under the Divyol brand.
Gandhar Oil Refinery IPO to open on November 21. Check details
Gandhar Oil Refinery IPO comprises a fresh equity issue of Rs 357 crore and an offer for sale (OFS) of Rs 143 crore. The price band for the issue will be announced soon for the Rs Rs 500-crore IPO.
Wealth management firm Neo raises $35 million from Peak XV Partners
The round marks one of the bigger growth cheques that Peak XV has written this year after separating from its US-franchise Sequoia Capital, amidst an ongoing funding winter.
Nuvama Wealth makes Dalal Street debut
Nuvama's listing was part of a demerger plan, where the company allotted 1.05 crore shares to the shareholders of Edelweiss Financial on a proportionate basis. Private equity fund PAG owns a 56% stake in Nuvama, while Edelweiss Group holds 14%. Public shareholders of Edelweiss Financial Services hold the rest of the 30% stake.
Nuvama Wealth Management's stock market debut on September 26
The demerger of the wealth management business was completed following the approval from the National Company Law Tribunal (NCLT) on April 27. The scheme of arrangement came into effect on May 18, 2023. Post the demerger, Nuvama plans to enhance focus on its key business segments and grow the client assets significantly over the next 5 years.
TVS Supply Chain shares see muted listing. Should you buy, sell or hold the stock?
Given that this IPO's subscription was relatively lower in the recent past over high valuations, the listing was above expectations.
TVS Supply Chain Solutions shares list at 5% premium over IPO price
"Although TVS Supply Chain Solutions is a leading supply chain management company, it operates in a highly competitive industry and has reported losses in the past two years. Additionally, the valuation of the IPO was also very high," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart.
ETMarkets Management Talk-Nuvama Wealth hopes to get listed on stock exchanges by mid-September: MD Ashish Kehair
The demerger process was successfully completed following the approval from National Company Law Tribunal (NCLT) on April 27, 2023, which came into effect on May 18, 2023. Shareholders of Edelweiss Financial Services have received their allotted shares of Nuvama Wealth Management, making them shareholders of Nuvama.
Nitin Desai started delaying on loan repayment schedules from end of 2018: Edelweiss officials to HC
Senior Edelweiss officials, accused of abetting the suicide of renowned art director Nitin Desai on Friday submitted to the Bombay High Court that he had started delaying on his loan repayment schedules from the end of 2018. Senior counsel Amit Desai, appearing for Edelweiss Financial Services chairman Rashesh Shah, Edelweiss ARC MD and CEO Raj Kumar Bansal and two other company officials, said a total loan of Rs 181 crore was given to Nitin Desa
TVS Supply Chain Solutions IPO opens. Should you subscribe?
The initial public offer (IPO) of TVS Supply Chain Solutions has opened for subscription until August 14. Comprising fresh equity of INR 600 crore ($81m) and an offer for sale of INR 280 crore, analysts have given mixed feedback due to its aggressive pricing.
TVS Supply Chain's IPO opens on Thursday
The IPO comprises ₹600 crore of fresh issue and an offer for the sale of shares worth ₹280 crore by the existing shareholders, including Tata Capital, TVS Motors, Omega TC Holdings, and Kotak Special Situations Fund, among others. The proceeds from the IPO will partly be used to reduce debt.
PFC eyes up to Rs 5,000 crore via public issue of bonds
PFC's issue includes three tranches - three-year bonds, 10-year bonds and 15-year bonds. The portion for institutional investors makes up 10%, while that for non-institutional investors accounts for 10%. The share of HNIs is earmarked at 40% while that for retail investors is at 40%.
Edelweiss Financial Services to raise funds via non-convertible debentures
The company is offering bonds maturing in 24 months, 36 months, 60 months and 120 at an annual yield in the 8.94% to 10.46% range for investors. These notes are rated AA- by CRISIL and Acuite Ratings and Research.
FTSE to delete Nuvama Wealth from Global Smallcap Index from July 5; here’s why
Nuvama Wealth Management will be removed from the FTSE Global Smallcap index, according to FTSE Russell. The company, which recently demerged from Edelweiss Financial Services, has not started trading on the stock market yet. Therefore, the global index aggregator made the decision to remove Nuvama from the smallcap index. Nuvama aims to triple its client assets and base by 2028 and expand its presence in more cities and offshore markets.
Private credit booms as companies seek alternatives for raising capital
This surge comes at a time when companies are facing the challenges of high-interest rates and volatility in the equity market, requiring stretched borrowers to explore private credit as an alternative for raising capital.
Inox Green Energy to launch issue on Nov 11
The anchor investor bidding will open on November 10, while the issue will close on November 15. The net proceeds of the fresh issue are proposed to be utilised for repayment of certain borrowings availed by the company, including redemption of secured NCDs in full.
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