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Tag: equity

  • Indian government to take nearly half of Vodafone Idea as debt converts to equity

    Indian government to take nearly half of Vodafone Idea as debt converts to equity

    MUMBAI: India’s beleaguered mobile operator Vodafone Idea is about to get a new sugar daddy—the government itself. The ministry of communications has decided to convert the firm’s towering spectrum auction dues of Rs 36,950 crore into equity shares, catapulting the state’s ownership from 22.6 per cent to a whopping 48.99 per cent, according to a company regulatory filing with the BSE.

    The move, communicated via an order dated 29 March and received by the company on Sunday, follows the Modi government’s 2021 telecom sector bailout package. Vodafone Idea, which has been gasping for financial breath against rivals Reliance Jio and Bharti Airtel, will issue 3,695 crore equity shares at Rs 10 each within 30 days after securing regulatory approvals.

    Despite the government now holding the largest slice of the pie, the existing promoters will remain at the controls—suggesting New Delhi prefers to play sleeping partner rather than backseat driver in this marriage of convenience.

    The pricing methodology wasn’t plucked from thin air but follows regulatory guidelines—taking the higher of the volume-weighted price over either 90 or 10 trading days preceding 26 February 2025.

    This fiscal lifeline throws Vodafone Idea a much-needed oxygen tank as it struggles to keep up in India’s brutally competitive telecom market, where rock-bottom tariffs have made profitability as rare as an uncapped data plan.

  • Upstox encourages youth to ‘own their future’ in new IPL campaign

    Upstox encourages youth to ‘own their future’ in new IPL campaign

    Mumbai: Investment platform Upstox (also known as RKSV Securities India) has launched its Indian Premier League (IPL) 2022 campaign called ‘Own Your Future.’ The marketing campaign aims to encourage young Indians to participate in the equity market.

    The digital ad film showcases how one can “make your favourite companies work for you”- by buying their stocks, becoming a shareholder in them, and thus having the company and its management work to improve the returns.

    The brand has partnered with IPL ever since the cricket league was launched in 2008. The first two videos of the series were released along with the launch of Tata IPL 2022.

    “The campaign ‘Own Your Future’ intends to encourage more Indians to participate in the equity market and make the right investment choices through Upstox,” said Upstox co-founder Kavitha Subramanian. “Young Indians today understand the value of owning assets and building a portfolio, via owning shares in companies. There’s a huge rise in startup culture and they understand that even if everyone cannot be an entrepreneur, you can still own a share of a company, and participate in its long term upside.”

    “Just like IPL has redefined cricket, Upstox aims to redefine investments for its customers. We are positive that this campaign will help drive a culture of equity investment in India, as well as encourage more Indians to take charge of their financial future,” she added.

    The multimedia marketing campaign includes commercials on television, digital, and social media platforms. While digital has been employed to reach out to the target segments in metros and big cities, television will be dominating the media mix for tier 2 and 3 cities, the brand said.

     

  • ONMOBILE takes 25% equity in AI-powered visual retention firm ROB0

    ONMOBILE takes 25% equity in AI-powered visual retention firm ROB0

    MUMBAI: Mobile entertainment company OnMobile Global Ltd has acquired 25 per cent equity stake in rob0, through its subsidiary Onmobile Global Solutions Canada Ltd, in exchange for an investment of CAD 1000,000.

    Bangalore-based OnMobile offers a wide array of products such as videos, tones, games and contests. It has an addressable base of more than 1.68 billion mobile users and over 100 million active subscribers across several geographies. rob0 is an AI-powered visual retention analytics service created by and for video game developers. This innovative Plug&play SaaS shows precisely when and why players leave from day 1.

    This transaction will allow rob0 to accelerate its growth as the most innovative AI-powered visual retention analytics solution for video game developers.

    This investment reaffirms the importance of OnMobile's strategy to become a leader in the mobile gaming market. In addition to its current subscription-based offering of premium games and kids apps, available to more than 50 carriers in over 30 countries, this transaction sets the table for OnMobile to soon introduce a one-of-a-kind gaming offering. Amongst the various synergies, OnMobile will be able to leverage the vast gaming knowhow of the rob0 team, which brings several years of experience in the industry, having played key roles for some of the most prominent games behemoths like Electronic Arts, Gameloft and Twitch.

    With its Plug & Play SaaS, rob0 is a pioneer in the gaming industry. Its AI-powered visual retention technology allows game developers to detect the exact moment in gameplay where users stop playing, saving them hundreds of hours of observation time and minimizing significantly their go-to-market risks.

    “We are very excited about this strategic investment. The combination of OnMobile and rob0 will provide immediate business value and will be the springboard to our enriched mobile gaming offering. Furthermore, it will bring tremendous value to game developers wanting to make their games highly engaging to end-users.”, said OnMobile Global chairman-CEO François-Charles Sirois.

    “We couldn't have hoped for a better partner than OnMobile to help rob0 embody its vision and become an essential solution for game developers. We are thrilled to bring our expertise and participate in the success of OnMobile's new gaming offer,” said Technologies rob0 Inc co-Founder and CEO Richard Rispoli. 

  • Travel Boutique Online (TBO) acquires strategic equity in Deyor Camps

    Travel Boutique Online (TBO) acquires strategic equity in Deyor Camps

    MUMBAI: Travel Boutique Online has taken strategic equity in Deyor Camps, founded by Dheeraj Jain(Redcliffe Capital), Chirag Gupta, Aakaar Gandhi and Gautam Yadav, to meet the demands of unorganized sector of adventure travel market in India. The teams of Deyor Camps & TBO will work closely to sell campsites offered by Deyor Camps through vast network of TBO.

    Travel Boutique Online, backed by Naspers is India’s largest B2B travel portal with more than 19,000 travel agents who are actively involved in selling their travel solutions. TBO enables its partners to serve their customers efficiently with the right pricing and inventory. With strategic equity in Deyor Camps, TBO will now create unique advantage for its partners by enabling them to sell branded campsites at more than 45 locations in India.

    “Deyor Camps has been instrumental in sending 10,000 people for camping during its 1st quarter of operations. We have already become the preferred travel partners for backpacker groups, Biker Groups travelling to Leh-ladakh and Lahaul Spiti over the course of the summer. We want to further extend our offerings to every person who is looking to spend their holidays in midst of nature or simply wants to discover something new and adventurous. With TBO as our strategic partner, we will be able to reach out to its well – established database of consumers who trust TBO and its travel agents,” said Dheeraj Jain from Redcliffe Capital.

    Speaking on this, Travel Boutique Online MD Ankush Nijhawan too said, “We are excited to announce our strategic equity in Deyor Camps, as the value proposition offered by Deyor Camps is unmatched in this market.”

    “We are just a few days away from launching a technology platform, which will make booking camping trips as simple as booking a hotel room, hence, structuring a highly fragmented sector. We will have a dedicated team at Deyor, who will serve the requests received from TBO and to ensure transactions smoothly,” said Deyor Camps co founder Chirag Gupta.

  • Travel Boutique Online (TBO) acquires strategic equity in Deyor Camps

    Travel Boutique Online (TBO) acquires strategic equity in Deyor Camps

    MUMBAI: Travel Boutique Online has taken strategic equity in Deyor Camps, founded by Dheeraj Jain(Redcliffe Capital), Chirag Gupta, Aakaar Gandhi and Gautam Yadav, to meet the demands of unorganized sector of adventure travel market in India. The teams of Deyor Camps & TBO will work closely to sell campsites offered by Deyor Camps through vast network of TBO.

    Travel Boutique Online, backed by Naspers is India’s largest B2B travel portal with more than 19,000 travel agents who are actively involved in selling their travel solutions. TBO enables its partners to serve their customers efficiently with the right pricing and inventory. With strategic equity in Deyor Camps, TBO will now create unique advantage for its partners by enabling them to sell branded campsites at more than 45 locations in India.

    “Deyor Camps has been instrumental in sending 10,000 people for camping during its 1st quarter of operations. We have already become the preferred travel partners for backpacker groups, Biker Groups travelling to Leh-ladakh and Lahaul Spiti over the course of the summer. We want to further extend our offerings to every person who is looking to spend their holidays in midst of nature or simply wants to discover something new and adventurous. With TBO as our strategic partner, we will be able to reach out to its well – established database of consumers who trust TBO and its travel agents,” said Dheeraj Jain from Redcliffe Capital.

    Speaking on this, Travel Boutique Online MD Ankush Nijhawan too said, “We are excited to announce our strategic equity in Deyor Camps, as the value proposition offered by Deyor Camps is unmatched in this market.”

    “We are just a few days away from launching a technology platform, which will make booking camping trips as simple as booking a hotel room, hence, structuring a highly fragmented sector. We will have a dedicated team at Deyor, who will serve the requests received from TBO and to ensure transactions smoothly,” said Deyor Camps co founder Chirag Gupta.

  • ‘Make in India’ initiative ups FDI equity inflows to 48% in a year

    ‘Make in India’ initiative ups FDI equity inflows to 48% in a year

    MUMBAI: The growth in Foreign Direct Investment (FDI) has been significant after the launch of ‘Make in India’ initiative in September 2014. The country has seen 48 per cent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year.

     

    In 2014-15, the country witnessed unprecedented growth of 717 per cent to $40.92 billion of investment by Foreign Institutional Investors (FIIs). The FDI inflow under the approval route saw a growth of 87 per cent during 2014-15 with inflow of $2.22 billion despite more sectors having been liberalized during this period and with more than 90 per cent of FDI being on automatic route. These indicators showcase remarkable pace of approval being accorded by the government and confidence of investors in the resurgent India. 

    The increased inflow of FDI in India, especially in a climate of contracting worldwide investments, indicates the faith that overseas investors have imposed in the country’s economy and the reforms initiated by the Government towards ease of doing business. The Make in India initiatives of the Government and its outreach to all investors have made a positive investment climate for India which is evidenced in the results for the last financial year especially the second half. 

    The FDI inflow during the financial year 2014-15 was spread across the sectors evidencing the fact of positive eco-system of investment opportunities, which India is now providing- Services Sector, Telecommunication, Trading, Automobile Industry, Computer Software & Hardware, Drugs & Pharmaceuticals  and Construction activities. 

    The FDI policy was amended to further enable a positive investment climate and sync it with the vision and focus areas of the present Government such as affordable housing, smart cities, financial inclusion and reforms in railway infrastructure. The Construction Development sector was allowed easy exit norms with rationalized area restrictions and due emphasis on affordable housing. The FDI cap in insurance and pension sector has been raised to 49 per cent. 

     

    100 per cent FDI has been allowed in railway infrastructure, excluding operations and also in the medical devices sector. 

     

    Further the definition of NRI was expanded to include Overseas Citizen of India (OCI) cardholders as well as Persons of Indian Origin (PIO) cardholders. NRIs investment under Schedule 4 of Foreign Exchange Management Act, 1999 (FEMA), Regulations will be deemed to be domestic investment made by residents, thereby giving flexibility to NRIs to invest in India.

  • ‘Wealth Manager’ – Coming soon on Bloomberg TV India

    ‘Wealth Manager’ – Coming soon on Bloomberg TV India

    Mumbai: Bloomberg TV India, the country’s leading English business news channel, will unveil the show “Wealth Manager”. The first ever show on Wealth management will highlight the challenges, opportunities and risk of managing wealth in a growing market like India.

    Bloomberg TV India will focus on the crucial sectors of Wealth Management like Insurance, Mutual Funds, International investments, Equity, Real Estate, Estate planning and Gold to give a 360-degree view on each sector. The Channel will bring together the very best financial advisers, wealth managers and private bankers to share insights, analysis and advice.

    Wealth management as an investment-advisory discipline incorporates financial planning, investment portfolio management and a number of aggregated financial services.

    Commenting on the show launch, Ms. Mini Menon, Executive Editor, Bloomberg TV India said, “Looking at the way the markets have run up so intensely in the last few months, there is still a lot of opportunity waiting to get invested in the Indian market. Managing wealth will be a bigger challenge in 2015. ‘Wealth Manager’ is our attempt to look at the reality and on ground picture of the sector and the show will enable the viewers to take informed decision. We are delighted to start our series with a focus to provide deep insights on the industry and highlight emerging trends to our viewers.

  • Eros International Announces Pricing of Follow-on Equity Offering

    Eros International Announces Pricing of Follow-on Equity Offering

    MUMBAI: Eros International, a leading global company in the Indian film entertainment industry, today announced the pricing of an underwritten public offering of 7,000,000 A ordinary shares at a price of $14.50. The offering consists of 7,000,000 A ordinary shares offered by Eros and certain existing shareholders, which consists of 6,675,000 shares offered by Eros and 325,000 shares offered by the selling shareholders. Eros will not receive any proceeds from the sale of shares by the selling shareholders. In addition, Eros and an existing shareholder have granted the underwriters a 30-day option to purchase up to an additional 1,050,000 A ordinary shares in total, which will be equally split between Eros and the existing shareholder at the offering price less underwriting discounts and commissions. The offering is expected to close on 15 July 2014.

     

    BofA Merrill Lynch, Jefferies, Wells Fargo Securities and Macquarie Capital are acting as joint book running managers and EM Securities is acting as co-manager for the offering.

     

    Copies of the prospectus may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or via email, at dg.prospectus_requests@baml.com and from Jefferies LLC, Attn: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or via e-mail at Prospectus_Department@Jefferies.com .

     

    A registration statement relating to the offering has been filed with, and has been declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

  • Shareholders approve Zeel’s acquisition of DMCL’s media business undertaking

    Shareholders approve Zeel’s acquisition of DMCL’s media business undertaking

    MUMBAI: Another level gets cleared for Zee Entertainment’s (Zeel) proposed acquisition of Diligent Media Corporation’s (DMCL) media business undertaking. The court convened meeting on 4 June, saw majority of both equity and preference shareholders give their nod to the scheme of arrangement.

     

    Now, the approval needs to go through the Bombay High Court and other regulatory authorities such as the central government.

     

    Out of the 745419538 equity shares that were polled, 99.082 per cent were in favour of the decision while 99.437 per cent of the 13195108470 of the preference shares that were polled were in favour. In all, 97365 equity shareholders and 91076 preference shareholders voted in the meeting.

     

    With both giving majority approval, Zeel will look forward for the legal and regulatory approvals to also sail through, thus allowing it to completely own the media business undertaking of DMCL that involves events as well as a non-News channel licence and certain registered intellectual properties for TV formats of gaming-based shows.

     

    DMCL was formed in 2005 with a 50:50 JV between Essel Group and Dainik Bhaskar Corp (DB). In 2012, Essel Group bought out DB’s 50 per cent stake.

  • Reliance group makes RBNL public shareholding buy back offer

    Reliance group makes RBNL public shareholding buy back offer

    NEW DELHI:The Reliance Anil Dhirubhai Ambani group is going ahead with its decision to de-list Reliance Broadcast Network Ltd (RBNL)  from the stockmarket. Three Reliance ADA group companies – The Reliance Share & Stock Brokers,  Reliance Land Pvt Ltd and Reliance Capital – today announced an offer to shareholders, under which 19,901,854 shares of RBNL representing 25.05 per cent of its equity capital, will be acquired by the group. With this acquisition, the group’s stake in RBNL will go up to 90 per cent, allowing it to go ahead with its plan to delist RBNL from the stock exchanges.

     

     
    The public announcement was issued  in accordance with Regulation 10 of the Securities and Exchange Board of India (Delisting of Equity Shams) Regulations, 2009 in respect of the proposed acquisition and delisting of fully paid-up equity shares of a company  (“Offer” / “Delisting Offer”). The company is listed on both the Bombay and National stock exchanges (BSE and NSE).
     

     

    The BSE and NSE have issued their in-principle approvals for the Delisting Offer.  In accordance with the applicable provisions of Regulation 15 (2) of the Delisting Regulations, the floor price for the Offer per Equity Share determined by the group  is Rs  46.47.

     
     
    The minimum price per Equity Share (the “Discovered Price” / “Offer Price”) payable by the Acquirer for the Offer Shares it acquires pursuant to the Delisting Offer, and determined in accordance with the Delisting Regulations, will be the price at which the maximum number of Offer Shares are tendered pursuant to a reverse book-building process in the manner an specified in Schedule II of the Delisting Regulations.
     
     
    The Acquirer may, at its sole discretion, accept the Discovered Price for the Offer Shares or offer to pay a price higher than the Discovered Price for the Offer Shares. The price so accepted or offered by the Acquirers is referred to in this Public Announcement as the exit price (the “Exit Price”). The Acquirers are under no obligation to accept the Discovered Price or to offer a price higher than the Discovered Price.
     
     
    The Specified Date has been fixed at 24 January. The Dispatch of Bid Letter/ Bid Forms to Public Shareholders as on the Specified Date will be 30 January and the bid opening date will be 12 February.
     
     
    The last date for upward revision or withdrawal of Bids (3.00 p.m.) is 17 February and the Bid Closing Date (3.00 p.m.) is 18 February.
     
     
    The last date for making Public Announcement of Discovered Price/ Exit Price and Acquirer’s acceptance/ rejection of Discovered Price/ Exit Price is 4 March and the last date for payment of consideration for the Offer Shares to be acquired in case of a successful Delisting Offer is 6 March.  The last date for return to Public shareholders of Offer Shares tendered but not acquired under the Delisting Offer is 6 March.
     
     
    A successful delisting offer will be subject to the acceptance of the Discovered Price (if it is higher than the Floor Price of Rs 46.47) or offer, of an Exit Price higher than the Discovered Price by the three acquiring entities.

     

    A resolution had been passed by RBNL shareholders through postal ballot, the result of which was declared on 30 October 2013 and notified to the Stock Exchanges on the same date, approving its delisting from the BSE and NSE in accordance with the Delisting Regulations. The votes cast by Public Shareholders in favour of the Delisting Offer were 7,058,183, being more than two times the number of votes cast by the Public Shareholders against it (i.e. 44,597).