Wednesday, 30 January 2013

OMDC retains lease of 3 Orissa mines


Thanks to a Calcutta High Court order, Orissa Minerals Development Company (OMDC), a listed subsidiary of state-owned Rashtriya Ispat Nigam Ltd, has received a lifeline of sorts.The iron ore miner, short of any real work until recently for want of mines, has been allowed to lease three resource-rich mines – Kolha Roida, Thakurani and Dalki – that the state government had originally leased out to Bharat Process and Mechanical Engineers Ltd (BPMEL). For, BPMEL is now under liquidation.BPMEL had contracted OMDC in 2003-04 to mine at the three sites on its behalf. When the approvals expired in 2006-07, the three sites were shut.In the wake of BPMEL’s ongoing liquidation, the state government had sought to re-possess the mines.The court, however, directed that since OMDC had been mining at these sites, it should be allowed to retain their possession now.OMDC informed the BSE that it has received a letter from the office of the official liquidator at the Calcutta High Court to this effect.This means, the state government has been effectively restrained from leasing the three sites to other miners, paving the way for OMDC to restart production.The liquidator also directed OMDC “to make payment of outstanding dues, if any, which were receivable by BPMEL”.While the amount of dues was not clear, an OMDC official said leases of all the three mines have been handed over to the company.The miner does not see any more hurdles to production, which is likely to start before this fiscal-end.
OMDC Updates on lease land Iron Ore Mines at Odisha
Orissa Minerals Development Company Ltd has received a letter from The Office of The Official Liquidator, High Court, Calcutta with a direction to hand over the possession of the 3 (three) lease land Iron Ore Mines at Odisha which was having lease of Bharat Process & Mechanical Engineers Limited (BPMEL - In Liquidation) and also to make payment of outstanding dues, if any, which was receivable by BPMEL (In Liquidation) in the matter.

The matter was take up at the Hon'ble High Court, Calcutta. The Hon'ble High Court, Calcutta heard the matter on January 11, 2013. The Official Liquidator withdraw its order and accordingly the case has been disposed of.
 The Orissa Minerals Development Company Ltd stock closed the day at Rs.4080.20, down by Rs.87.05 or 2.09%. The stock hit an intraday high of Rs.4187.95 and low of Rs.4060.
 The total traded quantity was 4385 compared to 2 week average of 18119.

This is expected to have a bearing on the share price of its holding company Eastern Investments Limited which is an unlisted companies. 
For buying or selling shares of eastern investment ltd please contact :

Sandip Ginodia
We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .


For more info and regular updates about unlisted shares and the stock market :
Like us on facebook : www.facebook.com/abhisheksecurities 




Tuesday, 22 January 2013

Eastern Investment



REASON 1.

EQ OF EASTERN IS 1.44 CR AND IT HOLDS 51% SHARES IN OMDC

TODAYS MKT CAP OF OMDC IS 2400 CR AT TODAYS PRICE OF RS.4000/SH

THIS GIVES A BOOK VALUE/ INTRISIC VALUE OF APPROX RS. 9000.00 PER SHARES AGAINST THE CURRENT MKY RATE OF AROUND 3500.00 PER SH.

REASON 2

 IN EASTERN U CAN PUMP IN CASH which will get long term on merger after 1 yr

REASON 3

EASTERN WILL BE MERGED IN RINL IN 12 MONTHS AS PER STATEMENT OF BOARD IN AGM

RINL WILL BE LISTED BY IPO IN OCTOBER 2013

THE MECHANT BANKER WILL HAVE TO VALUE EASTERN ACCORDING TO INTRISIC VALUE THUS GIVING SHARE HOLDERS A VERY FAVOURABLE RATIO AT THE TIME OF MERGER

REASON 4

WE ARE BULLISH ON OMDC AND EXPECT THAT THE PRICE SHOULD GO TO ABOUT 1 LAC IN 1 YRS TIME.
IN SUCH A SCENERIO , IT IS DESIRABLE TO SELL OMDC AND BUY EASTERN FOR THE SAME AMOUNT WHICH SHOULD DOUBLE THE PROFIT FOR INVESTOR, AS EASTERN IS LIKELY TO BE SOLD AT AROUND 15000/SH COMPARED TO A CURRENT PRICE OF 3500/SH IN 1 YRS TIME.

 Eastern Valuation.
Sir according to the previous Swap of Stakes done between OMDC, RINL,LIC,Eastern Investment And Government of India Omdc was valued at Rs 22000 per share and Eastern was holding 34 % of the Omdc. So the value of holding of Omdc with Eastern at that time comes at Rs 448 crore.Equity of Eastern of 9 lac shares when we divide, we get Eastern value per share @Rs 4900 per share.
At this rate only Eastern shares were swapped. So currently seeing the value of OMDC At Rs 4000 per share and Eastern equity of 14.4 lac shares, Eastern per share value should be Rs 9000 per share as it holds 50 % of Omdc.


THEREFORE , MERGER OF EASTERN WITH RINL IS THE REASON TO BUY THE SHARES,, AND NOT THE REASON NOT TO BUY THESE SHARES

PLS CALL IF YOU NEED ANY CLARIFICATION ON THIS, OR IF YOU HAVE ANYTHING CONTRARY TO THIS

THANKS

SANDIP GINODIA 
www.abhisheksecurities.com
 9830271248

Monday, 14 January 2013

EGM notice issued by Ratnakar Bank




EXPLANATORY STATEMENT AS REQUIRED UNDER SECTION 173 (2) OF THE COMPANIES
ACT, 1956 IN RESPECT TO THE SPECIAL BUSINESS:
The Bank's transformation journey towards becoming a 'New Age' Bank started in the year 2010. To
achieve the transformation and growth, the Bank had raised capital to the tune of ` 702.75 crore by
th allotment of 10.49 crore equity shares of `10 each at a premium of ` 57 per share under the 10
Rights Issue in December 2010. The amount raised in the said Rights Issue has been effectively used
to meet the transformation and business requirements of the Bank so far.
The Bank's transformation process has progressed well since 2010. The Bank has increased its
Branch and ATM network from 88 branches and 19 ATMs in March 31, 2010 to 117 branches and 150
ATMs as of now. The Bank has set up a modern Mumbai Controlling Office in a prominent business
area of Mumbai, a National Operating Centre at Goregaon, Mumbai, renovated branches in Kolhapur
Region. The Bank has diversified into newer geographies / added branches in Delhi, Gurgaon,
NOIDA, Northern Rajasthan, Chennai, Hyderabad, Surat, Madhya Pradesh etc. and certain parts of
Maharashtra and Karnataka such as Aurangabad, Ahmednagar, Shirdi, Doddaballapur which have
hitherto remained uncovered. These developments/expansion has helped the Bank to grow its size
of business significantly.
The Bank has introduced several new products and services during the aforesaid period. The Bank
has introduced Internet Banking facilities, new switch for ATMs and put ATMs on National Financial
Switch (NFS) leading to a wider acceptability of the Bank's ATM card as well as improving the cross
utilization of the Bank's ATM network. The Bank has also introduced new international debit cum ATM
card, prepaid cards, implemented Treasury System, became an Authorised Dealer in Foreign
Exchange and started Foreign Exchange and Foreign Trade Business. The Bank has very recently
completed implementation of Finacle, a new age Core Banking System (CBS) developed by Infosys
Limited which will enable the Bank to have a 360 degree view of the customer relationships improving
customer service. This will help the Bank to further introduce new products and services and improve
productivity. Apart from the new CBS, the Bank has revamped its entire IT infrastructure to ensure
high level of security, robustness and resiliency. The Bank can boast of having deployed one of the
most advanced technologies in this field which have enabled dynamic system and infrastructure
management and reduced the downtime at the branches. The Bank has made significant addition to
its human resource capital as well as made significant efforts in enhancement of their learning and
development.
Alongside these developments on the Operations and Technology front, the Bank's business and
profitability has also improved substantially. The Bank's advances and deposits have grown from
`1,170 crore and `1,585 crore, respectively as of March 31, 2010 to ` 4,568 crore and ` 5,551 crore,
respectively as of September 30, 2012, showing a growth of 290% in advances and 250% in deposits
between March 31, 2010 and September 30, 2012. The Bank's Profit after Tax has increased from
`19 crore in financial year 2009-10 (FY 10) to ` 66 crore in FY12 and ` 44 crore in the first six months
(H1) of FY 13 showing a growth of 247% between FY10 and FY12. The Bank's sources of income are
becoming much more diversified and qualitatively better with addition of several new products and
services. The Bank's non-interest income has increased from `13 crore in FY10 to ` 67 crore in FY12
and ` 49 crore in H1 FY13. With growing branch presence, technology revamp and additional
manpower, the operating expenses have increased from ` 39 crore in FY10 to ` 139 crore in FY12
and ` 97 crore in H1 FY13 in line with the Bank's transformation strategy of investing in technology,
systems, branches, human resources etc.
The Bank's Capital Adequacy Ratio (CAR) had increased substantially after the last round of capital
infusion in late FY11. The CAR was at 56.41% as of March 31, 2011 which reduced to 23.20% as at
(All figures of H1 FY13 are unaudited).


March 31, 2012 owing to substantial growth in the size of balance sheet of the Bank. The CAR has
further dropped to 17.4% as of September 30, 2012. As the Bank grows its balance sheet in the
coming days, the CAR will further drop to lower levels.
The Bank needs to continue with its transformation journey, expand its branch presence, continue
with IT system changes/upgrade/revamp and further expand the business of the Bank. With Basel III
implementation, capital requirements of the banking industry are expected to increase over the next
few quarters. Therefore, capitalization levels across industry are likely to go up in the coming days.
Our Bank also needs to ensure that with growing balance sheet, its capital position is enhanced
commensurately. Accordingly, the Board of Directors of the Bank, has recommended raising further
capital by way of preferential allotment of shares to certain institutional/professional investors of high
pedigree. Some of these prospective investors could bring immense value to the Bank. The capital
proposed to be raised from such investors would be further utilized for diversification into new
markets, Brand promotion of the Bank, setting up of more Branches and ATMs and to deliver robust
and cost – effective, customer centric banking. The Board of Directors has identified the investors
listed above for allotment of equity shares on preferential basis.
The Board proposes to issue equity shares within a price band of `102- `110 per share (i.e. equity
share of face value of `10 per share at a premium of ` 92- `100 per share). The Board may issue and
allot shares in one or more tranches. The Board may, at its discretion, decide a differential price within
the above price band while allocating shares to the prospective investors if in their judgment it is in the
long term interest of the Bank to do so depending upon the prospective investor's institutional
character, long term nature of shareholding, image and pedigree in the global markets, financial and
other strength as well as support in the institution building process and value accretion to the Bank.
In view of the above, the requisite approval of the shareholders is being sought in terms of the
provisions of the Companies Act, 1956 (the Act) read with the Unlisted Public Companies
(Preferential Allotment) Rules, 2003, as amended from time to time and other applicable regulations.
The relevant details as prescribed under these regulations are given below:
(a) THE OBJECTS OF THE PREFERENTIAL ISSUE:
To raise the funds through preferential offer for long term financial needs of the Bank from the
Investors referred in the resolution.
(b) THE PRICE BAND AT WHICH ALLOTMENT IS PROPOSED :
The shares shall be issued and allotted at a price determined by the Board. The shares shall
be issued and allotted within a price band of `102- `110 per share (i.e. equity share of face
value of `10 per share at a premium of ` 92- `100 per share).
(c) THE RELEVANT DATE ON THE BASIS OF WHICH PRICE HAS BEEN ARRIVED AT :
The price band has been arrived on the basis of price benchmarks prevailing in the market as
applied to financial position of the Bank as on September 30, 2012.
(d) THE CLASS OR CLASSES OF PERSONS TO WHOM THE ALLOTMENT IS PROPOSED
TO BE MADE:
The shares may be issued and allotted to the Investors as detailed in the resolution.
(e) INTENTION OF THE PROMOTORS / DIRECTORS/ KEY MANAGEMENT PERSONNEL OF
THE BANK TO SUBSCRIBE TO THE ISSUE :
No directors/Key Management Personnel intend to subscribe in the proposed preferential
issue of shares.


(f) SHAREHOLDING PATTERN :
The shareholding pattern before and after the allotment of shares as mentioned in the
resolution is as below:
Category Pre- Issue Post- Issue
No. of Shares % age No. of Shares % age
Promoters None Nil None Nil
Directors and their relatives 1,19,94,070 5.44 1,19,94,070 4.79
NRIs 81,28,910 3.68 81,28,910 3.24
Banks 52,20,000 2.37 52,20,000 2.08
Mutual Funds None Nil None -
Government None Nil None -
General Public 7,18,01,529 32.54 7,18,01,529 28.65
Body corporates & Financial Institutions 12,34,95,749 55.97 15,34,95,749 61.24
Total 22,06,40,258 100.00 25,06,40,258 100.00
(g) PROPOSED TIME WITHIN WHICH THE ALLOTMENT OF EQUITY SHARES SHALL BE
COMPLETED :
The allotment of equity shares is proposed to be completed within 12 months from the date on
which the shareholders sanction is obtained for the preferential allotment of equity shares.
(h) WHETHER A CHANGE IN CONTROL IS INTENDED OR EXPECTED :
The Board do not envisage any change in control by the proposed allotment of shares. None of
the proposed allottees would hold 5% or more shares in the paid up equity share capital of the
Bank after the proposed allotment of equity shares on a preferential basis.
(I) AUDIT CERTIFICATE :
Mrs. Priya Pangaonkar, Company Secretary in practice, has certified that the proposed issue
of the shares is being made in accordance with the requirement of the Unlisted Public
Companies (Preferential Allotment) Rules, 2003, as amended from time to time. A copy of this
certificate shall be placed at the Extraordinary General Meeting.
Your approval is sought, as required under Section 81 (1A) and other applicable provision of
the Act and rules made thereunder, for allotment of equity shares on a preferential basis.
The Board recommends passing of the resolution.
None of the directors of the Bank is concerned or interested in the proposed resolution.
By the order of the Board of Directors
Virta Jain
Company Secretary
Mumbai, December 22, 2012



Sandip Ginodia
ABHISHEK SECURITIES

We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .



For more info and regular updates about unlisted shares and the stock market :
Like us on facebook : www.facebook.com/abhisheksecurities 



Ratnakar Bank in SPOTLIGHT

Aditya Birla Private Equity,Norwest Venture Partners and Faering Capital are among private equity investors buying stake worth.300 crore in Ratnakar Bank,an investment that will help it prepare for an initial public offering next year.Private equity company Norwest Ventures is promoted by Promod Haque,a famous Silicon Valley-based investor while Faering Capital is promoted by Aditya Parekh,the son of HDFC Chairman Deepak Parekh.For both,it is the second round of investment in the bank.Ratnakar will use the funds to grow loans in a country where the demand for credit still remains strong at about 17%,though far lower than the 30% or above growth before the 2008 crisis,said two people familiar with the plans.Gaja Capital,GPE (India),Argonaut Ventures,UTI invest Advisory are the other investors.

Sandip Ginodia
ABHISHEK SECURITIES

We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .



For more info and regular updates about unlisted shares and the stock market :
Like us on facebook : www.facebook.com/abhisheksecurities 

Sunday, 13 January 2013

Kesoram textiles



Kesoram Textiles details :


Statement of Assets and Liabilities as at 30th September, 2012



Rs. in Lacs


Sl. No.
Particulars
As at 
30-09-2012
As at
30-09-2011
As at
31-03-2012


(Unaudited)
(Unaudited)
(Audited)
A.
EQUITY AND LIABILITIES



1.
Shareholders' Fund




a. Share Capital
1,045.64
1,045.64
1,045.64

b. Reserves and Surplus
-2,247.61
-2,310.73
-2,239.74

Sub-total - Shareholders' funds
-1,201.97
-1,265.09
-1,194.10
2.
Non-current Liabilities




Long-term Provisions
329.13
329.05
327.03

Sub-total - Non-current liabilities
329.13
329.05
327.03
3.
Current Liabilities




a. Short-term borrowings
957.07
958.84
955.78

b. Other current liabilities
47.62
103.79
47.72

c. Short-term Provisions
14.44
11.63
14.44

Sub-total - Current liabilities
1,019.13
1,074.26
1,017.94

TOTAL - EQUITY AND LIABILITIES
146.29
138.22
150.87
B.
ASSETS



1.
Non-current Assets




a. Fixed Assets
77.01
82.24
78.98

b. Long-term loans and advances
39.66
39.70
39.39

Sub-total - Non-current assets
116.67
121.94
118.37
2.
Current Assets




a. Current Investments
13.32
0.00
16.05

b. Cash and bank balances
5.65
5.62
6.68

c. Short-term loans and advances
10.54
10.49
9.04

d. Other current assets
0.11
0.17
0.73

Sub-total - Current assets
29.62
16.28
32.50

TOTAL - ASSETS
146.29
138.22
150.87

Sandip Ginodia
ABHISHEK SECURITIES

We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .



For more info and regular updates about unlisted shares and the stock market :
Like us on facebook : www.facebook.com/abhisheksecurities