Vibhor Steel Tubes files draft papers with Sebi to raise Rs 66.47 crore via IPO

MUMBAI, 5th OCTOBER, 2023 (NHM): Vibhor Steel Tubes, the two-decade-old manufacturer of steel pipes and tube products, has filed preliminary papers with the capital markets regulator Sebi to raise Rs 66.47 crore via an initial public offering (IPO). 

The offer consists of only a fresh issue by the company and there is no offer-for-sale component. The company will utilise net fresh issue proceeds mainly for working capital. The company’s offering comprises a fresh issue of equity shares (face value Rs. 10 each), aggregating to an issue size of up to Rs. 66.47 crore, through book-building route. There will be no Offer for Sale component. 

The company will utilise net fresh issue proceeds mainly for working capital requirements of Rs 55 crore, and the remaining for general corporate purposes. The company has appointed Khambatta Securities Limited as Lead Manager to the Issue and KFIN Technologies Limited as the Registrar to the Issue. 

The company will utilise its net proceeds from the issue to fund its working capital requirements. The company’s equity shares are proposed to be listed on the NSE and BSE. The company will utilise net fresh issue proceeds mainly for working capital requirements of Rs 55 crore, and the remaining for general corporate purposes. 

The company has appointed Khambatta Securities Limited as Lead Manager to the Issue and KFIN Technologies Limited as the Registrar to the Issue. The company will utilise its net proceeds from the issue to fund its working capital requirements. The company’s equity shares are proposed to be listed on the NSE and BSE. VSTL manufactures steel products such as Electric Resistance Welded Pipes, Hot-dipped Galvanized Pipes, Hollow section pipes, Primer painted pipes, SS Pipes and Crash Barriers at its plants located in Maharashtra, Telangana and Haryana with a total capacity of 2,23,160 MTPA. 

The company supplies its products to western and southern market companies in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka and Tamil Nadu. 

Commenting on this, Vijay Kaushik, Chairman and Executive Director, Vibhor Steel Tubes Limited, said, “Our consistent efforts in manufacturing and supplying the best quality steel products over the years have paid off in the form of satisfied clientele across India. As we are all set to explore new opportunities and geographies for our products and strengthen our supply chains, we are raising funds through IPO. In an industry laden with unstable policy regimes, we have successfully built the product line and have been part of the domestic manufacturing narrative for a while now.” The company has mapped out business plans to expand its operations by setting up a manufacturing unit with a capacity of 1,20,000 MTPA in Orissa and expanding the current unit’s capacity in Telangana from 96,000 MTPA to 1,52,000 MTPA. VSTL has also entered into an agreement with Jindal Pipes Limited in April 2023. As part of the agreement, the company manufactures and supplies finished goods worth 1,00,000 MTPA to “Jindal Pipes Limited, which sells the products under the brand name “Jindal Star”. 

The company’s total revenue for FY23 stood at Rs. 1,112.11 crore compared to Rs. 817.99 crore in FY22. Its EBIDTA for FY23 was Rs. 46.84 crore, compared to Rs. 30.18 crore in FY22. The company’s PAT was 21.06 crore in FY23, compared to Rs. 11.33 crore in FY22. In the last five years, finished steel production has grown at a CAGR of 4.8% to 122 MT in FY23 from 101 MT in FY19. 

The production growth has been backed by a rise in domestic steel consumption on account of growing economic activities in the country, supported by an increase in infrastructure and construction spending by the government and a rise in automobile and consumer durable demand, among others. During YTD FY24, finished steel production grew by 13.4% on a y-o-y basis, backed by strong demand in the domestic market.Ends

Manappuram Finance arm Asirvad Micro Finance files IPO DRHP with SEBI, to raise ₹1,500 crore via fresh equity shares

MUMBAI, 5th OCTOBER, 2023 (NHM/ Babita P.M): Asirvad Micro Finance, a subsidiary of Manappuram Finance has filed Draft Red Herring Prospectus (DHRP) with the Securities and Exchange Board of India (SEBI) on October 5, the company informed the exchanges. 

The proposed initial public offering (IPO) of equity shares would be undertaken at face value of ₹10 each, comprising fresh issue up to ₹1,500 crore, as per the exchange upload. Founded in 2008 by SV Raja Vaidyanathan, Asirvad was taken over by Manappuram in February 2015 for ₹48.63 crore. The V P Nandakumar-led company first bought 71 percent stake which was later increased to 95 percent and the rest is with the founder Vaidyanathan.

As per the company website, its beneficiaries were women folk, with poor and low-income group, who were supplied ‘Income Generating Product’ Loans to "achieve and maintain" financial stability. In 2021, the company raised $15 million loan from US-based WorldBusiness Capital. 

Asirvad said it would use the funds to expand its business of providing small loans to low-income women business owners in rural areas to start and expand their income-generating business. 

It now stands with 10,000 crore of assets under management (AUM) by serving 3 million customers spread across all over India, the website states. Manappuram Finance is an India-based non-banking financial company (NBFC). 

The stock opened at ₹144.75. At 9.30 am it was up 2.22 percent to ₹145.05. The Company provides credit services to people belonging to the lower socio-economic classes, particularly in rural and semi-urban areas of India. Its segments include Gold loan and others, and Micro Finance. 

The Company offers a range of retail credit products and financial services. It has a diversified lending portfolio encompassing retail, microfinance, small and medium-sized enterprises (SME) and commercial customers.Ends

Polymatech Electronics Limited files DRHP for Rs 750 crore IPO

MUMBAI, 5th OCTOBER, 2023 (NHM): India’s first semiconductor chips manufacturer Polymatech Electronics is planning for a stock market listing. 

The company, established in 2007, on Wednesday sought capital markets regulator SEBI’s approval for the initial public offer (IPO). The equity shares are proposed to be listed on both the BSE and NSE. 

Current shareholding in the company is such that Eswara Rao Nandam holds 3.3 crore equity shares of the company, making up 41.56 per cent stake. 38.07 per cent stake is held by Uma Nandam. 

The average cost of acquisition of the company's equity shares by the Promoters as at the date of DRHP was Rs 0.20. The company shared that it has received ‘in-principle’ approvals from both the stock exchanges for the listing of equity shares. 

The designated stock exchange will be the National Stock Exchange. Link Intime India Private Limited will serve as the Registrar to the Issue. 

Polymatech Electronics’ net worth, for the financial year ending on March 31, 2023, was Rs 318 crore, up over four times from FY22. Its revenue from operations came in at Rs 649 crore and profit for the year was Rs 167 crore.

Empowering Personal Development: An Insightful Conversation with Vijay Dalwani, Founder of The Masters

MUMBAI, 29 SEPTEMBER, 2023 (NHM): The Masters is a groundbreaking edtech platform conceived and led by Mr. Vijay Dalwani, designed to revolutionize personal development through the exploration of hobbies and skills. With a strong belief in lifelong learning and a profound understanding of the power of personal interests, Mr. Dalwani founded The Masters to provide a unique space for individuals to access top-notch masterclasses taught by industry experts. As a successful entrepreneur and professional musician, he recognizes the profound impact that acquiring new skills and pursuing one's passions can have on personal growth.

At the core of The Masters' vision lies the commitment to empower people from diverse backgrounds to unlock their full potential. By offering a wide range of masterclasses tailored to various interests and aspirations, The Masters aims to bridge the gap left by traditional education systems. This platform is not just about acquiring skills; it's about fostering creativity, instilling discipline, and promoting continuous personal development. The Masters envisions a future where education and skill development are accessible to all, providing a pathway for individuals to embark on a transformative journey of self-discovery and growth.

In our conversation with Mr. Vijay Dalwani, we discover more on this initiative. Read on for a gist of our interview. 

Can you tell us what inspired you to create The Masters, a unique edtech platform specializing in hosting hobby and skills masterclasses by industry experts?

The inspiration for The Masters came from a deep belief in the transformative power of hobbies and skills in one's life. I've always been a strong advocate for lifelong learning, and I wanted to create a platform where individuals of all ages and backgrounds could access high-quality masterclasses taught by industry experts. We live in a world where traditional education often falls short in nurturing personal development, and I saw a gap that needed to be filled. The Masters was born out of a passion to empower people to unlock their full potential through hobbies and skills. Being a professional musician myself, I can strongly relate to the abundant benefits my musical knowledge has given me in my overall development as a successful entrepreneur, leader and mentor.

Can you elaborate on how picking up a hobby or skill can contribute to personal development and why it's so crucial in today's world?

Hobbies and skills contribute significantly to personal development in several ways. Firstly, they provide an outlet for creativity and self-expression, reducing stress and enhancing overall well-being. They also foster discipline, dedication, and perseverance, which are essential qualities for success in any endeavor. Learning a new skill can boost one's confidence, and mastering a hobby can be a source of immense pride. In today's rapidly changing world, being adaptable and continuously learning new things is crucial, and hobbies and skills are a powerful way to achieve that.

The Masters seems to offer a wide range of masterclasses with industry experts. What sets your platform apart from others in the industry?

One of the key differentiators of The Masters is our commitment to excellence. We handpick industry experts who not only excel in their respective fields but also have a passion for teaching and sharing their knowledge. Our platform is dedicated to providing the highest quality content and an immersive learning experience.

Additionally, what truly sets us apart is our mission to make learning accessible to all. We offer our Learning Management System technology to schools, associations, NGOs, and companies absolutely free of cost. This allows them to harness the power of our advanced system for their internal programs, student and employee engagement, and more, without the financial burden. We believe in democratizing education and skill development, and this is one way we are contributing to that cause.

Please share an example of how The Masters' free Learning Management System technology has made a difference in an educational institution or organization?

Let me give you an example. We partnered with a local school that wanted to enhance its extracurricular programs and student engagement. By using our Learning Management System technology, they were able to seamlessly integrate our masterclasses into their curriculum. This not only enriched the students' learning experiences but also allowed the school to track their progress and engagement easily. The school reported a significant increase in student participation and enthusiasm for learning.

In conclusion, what do you envision for the future of The Masters, and how do you see it impacting individuals and organizations?

The future of The Masters is one where we continue to expand our offerings and reach more people around the world. We aim to be the go-to platform for anyone looking to explore their passions, learn new skills, and transform their lives. We want to see individuals and organizations thriving through continuous learning and personal development. Our free Learning Management System technology will continue to be a cornerstone in achieving this vision, making quality education and skill development accessible to all.

HDFC Securities eyes to rope in active clients with the launch of its all new trading app HDFC SKY -

Dhiraj Relli, MD & CHIEF EXECUTIVE OFFICER of HDFC Securities alongwith Sandeep Bhardwaj, chief operating and digital officer at HDFC Securities at the Launch of HDFC SKY

HDFC Sky app details: Fee, Charges, Features for Investing in Mutual Fund SIP, ETF, Indian & US Stocks-

MUMBAI, 25 SEPTEMBER, 2023 (News Hub Mumbai / Babita Prabhakar): HDFC Securities, which has a one per cent market share in active retail clients, launched its new app called HDFC Sky, the app allows users to invest in Indian Equities, US Securities, Mutual Funds, ETFs, and Fixed Income Instruments. With this app, users can trade in stocks of over 3,500 listed companies and more than 100 Exchange-Traded Funds (ETFs).

Further, the app allows investing in to over 2000 mutual funds across various sectors. For Mutual Fund investors, app allows automated SIPs, quick access to NFOs. The app also enables investors to chalk out their savings strategy while providing in-depth analysis (premium expert opinions) and tracking of one’s portfolio.

For users interested in international equity, the HDFC Sky app allows investing in more than 500 overseas companies, facilitating buying and selling in small quantities with fractional investing.

For stock traders, the app allows trading in futures, options, currencies and commodities. It also allows trading and investing in cash, derivatives, commodities and currencies.

Quick Trades, Portfolio baskets, Smart Dashboards, trading with zero downtime, and user and data security are some of the features promised by this app.

The KART feature on the HDFC Sky app allows traders to place multiple orders in one go. With this, traders can buy or sell a group of stocks simultaneously with just one tap instead of executing each trade individually.

With the launch, the broker will be competing with low-price broking services with a flat pricing of Rs 20 per all intraday trades and delivery. Speaking at the launch, Dhiraj Relli, MD & CHIEF EXECUTIVE OFFICER of HDFC Securities, said that the brokerage firm wants to increase the active derivative traders through the app, specifically targeting tech-savvy, new-age investors.

He further added, I’m proud to announce the launch of HDFC SKY, a revolutionary trading and investing app that is set to change the way you navigate the financial markets.

HDFC SKY is built on four key principles: discovery, decision-making, execution, and tracking. It provides you with access to a wide range of investment and trading offerings on a single platform, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, IPOs, and global equities.

HDFC SKY is packed with features designed to help you make smarter investment decisions, including:

• Flat pricing of ₹20 for Equity, FnO, Currency, Commodity 

• Buy Stock Pay Later with MTF at 12%

• An intuitive UI/UX for seamless navigation

• The ability to compare mutual funds with deeper insights

• Personalized watchlists with tags

• Free in-house research

• Advanced Option chain

• Educational resources via HDFC SKY Learn

Whether you’re a trader or investor, HDFC SKY has something for everyone. The access to features, research and user-friendly interface, makes HDFC SKY a delight to navigate the financial markets.

He urges one and all to Download HDFC SKY today and experience the future of finance!

Sandeep Bhardwaj, chief operating and digital officer at HDFC Securities, said apart from being an all-in-one app for various asset classes, it will provide free in-house research, personalised watchlists with tags, and educational resources. However, the current clients of HDFC Securities will have to shift to HDFC Sky if they wish to use the app.

Note- HDFC Sky is a new trading and investing app. Users should compare this app’s features and pricing with other popular apps and platforms before using it.Ends

Aditya Birla Finance Ltd to raise up to Rs 2,000 crore via non-convertible debentures

MUMBAI, 25 SEPTEMBER, 2023 (NHM):   Aditya Birla Finance, a subsidiary of Aditya Birla Capital, has announced its first public issue of non-convertible debentures (NCDs) for an amount up to Rs 1,000 crore with an option to retain oversubscription up to Rs 1,000 crore for an aggregate amount of up to Rs 2,000 crore. The issue will open on Wednesday, September 27, 2023, and close on Thursday, October 12, 2023, with an option of early closure, the company said in an exchange filing.

The Allotment of NCDs shall be made, in consultation with the designated stock exchange, on a date priority basis, i.e., a first-come, first-serve basis, it said.The tenor options available will be 3 years, 5 years or 10 years offered with ‘monthly’, ‘annual’ or ‘cumulative’ interest payment frequency. The coupon rates will range from 8 percent to 8.10 percent for annual options with effective yields ranging from 7.99 percent to 8.09 percent across various series.

The company has proposed to utilise at least 75 percent of the net proceeds of the issue towards onward lending, financing and repayment of interest and principal of existing borrowings of the company and a maximum of up to 25 percent of the net proceeds towards general corporate purposes.The proposed NCDs to be issued pursuant to this issue have been rated IND AAA Outlook Stable by India Ratings & Research Private Limited and [ICRA]AAA (Stable) by ICRA Limited.Ends

Pure Storage Named a Leader in the 2023 Gartner® Magic Quadrant™ for Primary Storage

Latest recognition marks tenth consecutive year of Pure Storage’s position as a Gartner Magic Quadrant Leader 

MUMBAI, SEPTEMBER 21, 2023 (NHM)— Pure Storage^® (NYSE: PSTG), the IT pioneer that delivers the world’s most advanced data storage technology and services, today announced it has been positioned by Gartner as a Leader in the Magic Quadrant for Primary Storage. The latest recognition by Gartner marks the tenth^[1] consecutive year of recognition in the Magic Quadrant for Pure Storage and the fourth consecutive year that Pure Storage has been positioned highest on the Ability to Execute axis and furthest on the Completeness of Vision axis, which validates Pure’s leadership across the enterprise storage industry.

Portfolio Momentum: 

Pure Storage’s placement in the Gartner Magic Quadrant for Primary Storage stems from its ability to deliver a data storage and management platform that can seamlessly satisfy all customer data storage needs across a range of prices and performance via the FlashArray^™ portfolio, based on a single, AIOps-driven management platform, Pure1® - all available via the Evergreen//One^™ cloud-like consumption model. Pure Storage has achieved several critical milestones over the past year contributing to its evolution into a platform organization, including:

• Introduction of FlashArray//E^™:  An expansion of the Pure//E Family, FlashArray//E enables customers to eliminate the last hard disk drives in their data center by delivering the simplicity and efficiency of flash for all file and block data repositories. With FlashArray//E, customers benefit from an 80% reduction in power and space, 60% lower operational costs, and 85% less e-waste compared to disk.
• Release of Next-Gen FlashArray//X^™ and FlashArray//C^™ R4 Models: With a 40% performance boost, over 80% increased memory speeds, and a 30% inline compression boost to stretch capacity compared to the prior models, the new models arm global customers with the data agility, performance, security, and cost savings needed to seamlessly and economically scale business operations.
• General Availability of File Services for FlashArray: A storage service enabling organizations to access native block and file services from a single, global pool of storage resources, File Services eliminates the need for pre-planning storage growth and offers a unified policy management system that dramatically cuts administration time.
• First-of-its-Kind Evergreen//One Ransomware Recovery SLA: Existing and new Evergreen//One customers can now purchase an add-on service guarantee for a clean storage environment following a ransomware attack. The SLA guarantees a next business day window to ship clean storage arrays, 48-hours to finalize a recovery plan started at any time, a data transfer rate of 8 TiB/hour, and a professional services engineer onsite through RMA.
• Impact on Enterprise Sustainability: On the heels of introducing the Pure1 Sustainability Assessment, Pure Storage released the first and only energy efficiency guarantee in the enterprise storage as-a-service market: the Evergreen//One Energy Efficiency SLA, enabling customers to measure the maximum number of actual Watts per tebibyte (TiB). Additionally, with the FlashArray product line, customers can achieve up to 85% energy and emissions savings compared to competitive flash-based products, based on Pure Storage’s latest ESG analysis, conducted by a third party. 

The current FlashArray family now includes FlashArray//E, FlashArray//X, FlashArray//C, FlashArray//XL^™, Pure Cloud Block Store, and Pure Fusion^™ - all of which are underpinned by Pure Storage’s AIOps platform in Pure1. Pure Storage’s Evergreen portfolio includes Evergreen//One, Evergreen//Flex^™, and Evergreen//Forever^™. Evergreen//One now offers a suite of six concurrent SLAs focused on eliminating downtime for upgrades, an uptime guarantee, a storage capacity buffer relative to usage, unrivaled storage performance aligned with service tier, an energy efficiency guarantee, and a clean array next-day guarantee for ransomware recovery.

Executive Insight:

“Pure’s continued recognition as a Leader in the Gartner Magic Quadrant for Primary Storage is a testament to our vision and commitment to improving every aspect of enterprise storage. We now deliver the most reliable, sustainable, and simple-to-use platform that meets the storage needs of any customer, with a cloud operating model and our inimitable Evergreen^® architecture. We’re incredibly honored by this achievement and couldn’t have done it without our great team, customers, and partners.” – Shawn Hansen, VP and General Manager, FlashArray, Pure Storage.

“The advancement of Pure’s Evergreen portfolio - including the addition of several critical SLAs to our Evergreen//One consumption model - underscores our unwavering commitment to drive simplicity, flexibility, and choice in data storage, at scale. Pure’s evolution into a platform company best suited to support any and all enterprise storage needs is evident in the latest Gartner Magic Quadrant positioning, and we couldn’t be more excited to continue our journey to disrupt the legacy storage market.” – Prakash Darji, General Manager, Digital Experience, Pure Storage.Ends