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Tag: SBI Capital Markets

  • Prism Johnson shareholders give Aggarwal and Chandak a three-year encore

    Prism Johnson shareholders give Aggarwal and Chandak a three-year encore

    MUMBAI: Prism Johnson Ltd’s shareholders have given a resounding “yes” to continuity, reappointing Vijay Aggarwal as managing director and Sarat Kumar Chandak as whole-time director (executive director & CEO, HRJ) for another three-year stint. The decision, sealed via postal ballot and remote e-voting, confirms the shareholders’ confidence in the duo’s leadership.

    Aggarwal, a seasoned veteran with a career stretching back to 2010 at Prism Johnson and 1998 at the erstwhile H. & R. Johnson (India) Limited, brings a wealth of experience to the table. An IIT Delhi and IIM Ahmedabad alumnus, complete with gold medals and a stint at SBI Capital Markets, he’s seen it all.

    Chandak, who joined Prism Johnson in 2018 and ascended to his current role in 2019, boasts over 30 years of experience in the building materials industry. With a BSc from Sambalpur University, a post-graduate diploma from NIIT-Nagpur, and an MBA from Pune University, he’s a well-rounded leader.

  • Pitchfork Partners joins SBICAP Ventures as strategic communication counsel

    Pitchfork Partners joins SBICAP Ventures as strategic communication counsel

    Mumbai: SBI Capital Markets’ SBICAP Ventures Ltd. (SVL) has appointed Pitchfork Partners as its strategic communication counsel. The agency will work towards strengthening the brand’s position as one of India’s fastest-growing asset management companies.

    The service mandate will now cover external communication in addition to the ongoing digital outreach for the various fund initiatives under SBICAP Ventures, namely Neev funds, SWAMIH (Special Window of Affordable & Mid-Income Housing), and SRI (Self-Reliant Fund).

    SVL has a stellar track record of investing in stressed residential real estate and the MSME sector in India, as well as contributing to many renewable energy, waste management, and climate-related initiatives.

    Neev Fund vice president Anjana Seshadri said, “We are excited about our collaboration with Pitchfork Partners. Our long-standing association with the company has propelled us to expand our horizons and dive even deeper into the brand’s communication with the media. With Pitchfork’s guidance and expertise, we hope to foster a better positioning of SBICAP Ventures as a whole.”

    “We are happy to announce this partnership. Given SBICAP Venture’s current positioning in the market, it has emerged as one of India’s largest asset management companies. We are privileged to partner with them and build on their credibility,” added Pitchfork Partners co-founder Jaideep Shergill.

  • Videocon d2h files for IPO to raise Rs 700 crore

    Videocon d2h files for IPO to raise Rs 700 crore

    MUMBAI: For the past couple of years, the stockmarkets have been going through rough weather dampening an entrepreneur’s desire to raise funds through the initial public offering (IPO) route. With a new government in place, and optimism returning, the queue has once again started being formed outside the Securities Exchange Board of India (Sebi) of those going in for IPOs. Shemaroo Entertainment earlier this month approached the public and now it is the turn of the  direct to home (DTH) service provider Videocon d2h which has finally made its filing with Sebi to raise Rs 700 crore.

     

    This is the second time the firm has proposed to go public. It had previously filed documents in December 2012 and had received a go ahead from SEBI but did not go ahead with the public float.

     

    Seven banks – including UBS, Axis Capital, ICICI Securities, SBI Capital Markets, Yes Bank, IDBI Capital will manage the share sale.

     

    As per the statement issued by the company, “The price band and the minimum bid lot will be decided by our company in consultation with the joint global coordinators and book running lead managers.”

     

    The company is also considering a preferential issue of up to 5,000,000 Equity Shares, aggregating up to Rs 50 crore with certain investors.

     

    “Our Company will complete the issuance and allotment of Equity Shares pursuant to the Pre-IPO Placement, if any, prior to the filing of the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the Issue size will be reduced to the extent of such Pre-IPO Placement, subject to the issue size constituting at least 10 per cent of the post-Issue paid-up Equity Share capital of our Company,” the notice also stated.

     

    The company plans to spend a portion of the Net Proceeds of the issue towards acquisition of set-top boxes, outdoor units and accessories thereof from TEL, a Videocon Group entity.

     

    “We propose to utilise Rs 350.83 crore of the Net Proceeds towards acquisition of set-top boxes and outdoor units from TEL,” the statement added.

     

    The company is also looking to spend Rs 175 crore of the net proceeds to repay loans. “We may utilise a part of the Net Proceeds to repay/prepay certain term loan facilities availed from IDBI Bank Limited and ICICI Bank Limited, which are associates of the JGCBRLMs, IDBI Capital and I-Sec, respectively, and YES Bank, one of our JGCBRLMs.”  The amount left will be used for other general corporate purposes.

     

    The company commenced DTH operations in July 2009 and has grown its subscriber base from 0.44 million gross subscribers as of 31 March 2010, to 11.21 million gross subscribers, as of 30 June 2014, which represents approximately 16.2 per cent of the total DTH subscriber base in India.

     

    For the first quarter of 2015 the company has approximately 27 per cent incremental market share of the DTH subscriber base in India.

     

    The total income of the organisation for the three months ended 30 June 2014 was Rs 537.7 crore, during which time it generated net loss of Rs 78.15 crore. The firm has clocked a net loss of Rs 2,126 crore over the last five years.