Saturday, 21 November 2015

RCom buys Sistema's Indian operations

As part of the deal, Sistema will acquire 10% stake in Reliance Communications
Marking the first major acquisition in recent times, Reliance Communications (RCom) has entered into an agreement to acquire Russian conglomerate Sistema JSFC’s Indian telecom business.
The acquisition will be by stock and takeover of SSTL’s spectrum in instalments of ₹392 crore a year for the next 10 years.
According to sources, this pegs the deal size at about ₹4,500 crore.
Under the agreement, Sistema Shyam Teleservices Ltd (SSTL), which provides telecom services under the MTS brand, will be merged with RCom. Following the acquisition, SSTL will get a 10 per cent stake in RCom. Promoter shareholding in RCom will come down to 54 per cent.
Significant synergies

“The combination of our wireless businesses, through the demerger of SSTL wireless business into RCom for stock consideration, will generate significant capex and opex synergies for mutual benefit,” said Gurdeep Singh, President and Chief Executive Officer, Consumer Business at RCom.
However, there will be no board seats or veto rights available to SSTL.
“Despite the numerous challenges the sector faced in recent years, the combination of two leading data service providers is a clear sign of progress for the Indian telecom industry,” said Mikhail Shamolin, President and CEO of Sistema.
On its part, SSTL intends to pay off its existing debt before the closing of the transaction.
The company has also agreed for a payment or an earn-out mechanism for the Department of Telecommunications (DoT) disputed spectrum contiguity charges.
Rationale of the deal

On completion of the acquisition, which is subject to certain conditions and regulatory approvals, RCom will get about nine million customers and ₹1,500 crore in annual revenue.
In addition, the company, controlled by billionaire Anil Ambani, will get superior 850 MHz band spectrum held by SSTL, which is suited for 4G LTE services.
Also, getting the spectrum eliminates future cash outgo for RCom in eight circles till 2021.
Further, it will also extend RCom’s spectrum validity in the band for another 12 years (from 2021 till 2033).
Shares in RCom ended up 6.18 per cent at ₹79.90 on the BSE, which closed 0.37 per cent down on Monday. 




Sandip Ginodia , Director

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MSTC Opens stall at IITF

Ms. Bharthi S Sihag, IAS, Addl. Secretary & Financial Advisor, Ministry of Steel inaugurated MSTC Stall at India International Trade Fair (IITF) 2015 on 14th Nov 2015 at Pragati Maiden, New Delhi in presence of Shri. S K Tripathi CMD & Ms. Urvilla Khati, Joint Secretary, Ministry of Steel

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Sunday, 2 August 2015

Cial handed over dividend of Rs.17.76 crore to Govt.



Cochin International Airport limited has handed over the dividend of  Rs.17.76 crores for the fiscal 2013-14 to the Kerala Government. At a function held at Govt.Secretariat, Trivandrum, Hon.Minister Sri.K.Babu, who is also one of the directors of CIAL has handed over the demand draft to Hon.Chief Minister Sri.OOmmeen Chandy. CIAL managing Director Sri.V.J.Kurina IAS, company secretary Sri.Saji K.George and Manager (PR & CC) Sri.P.S.Jayan were also present at the function.
  CIAL annual general body had earlier declared 18% divident to its stake holders. With this the total paid up dividend since 2003-04 has stood at 132 %. The Govt.of Kerala is holding a shares of 32.24%.
pic: Hon.Chief Minister Sri.Oommen Chandy recieves demand draft of Rs. 17.76 crores from Hon.Minister Sri.K.Babu . CIAL managing director Sri.V.J.Kurian IAS, company secretary Sri.Saji K.George are also seen.

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Thursday, 30 July 2015

CIAL ‘s profit rises 16.25 % to 144.57 cr;Offers dividend at 21%


Cochin International Airport Limited (CIAL), the company that built and operates the country’s first PPP airport reported a record profit (after tax) of 144.57 cr. during the 2014-15 fiscal, which is up by 16.24 % that of last FY. The CIAL board meeting, chaired by Hon. Chief Minister Mr.OOmmen Chandy has declared that the company’s profit before tax stood at Rs. 179.30 cr. It was Rs. 157.46 cr. in the last year.
Driven by the constant efforts of business diversification across both aviation and non aviation verticals, the company shows a robust growth over the years as the total revenue for the 2013-15 FY increased by 14.55 % to Rs 413.96 cr against Rs. 361.39 cr that of last FY. The board of directors recommended a dividend of 21 %. The company has been showing consistent growth since its inception and paying dividend unfailingly since 2003-04 and the total pay-out dividend has reached 132 % in the last FY. The company made two right issues at par, in 2000 and 2006 offering one share for every share held by the shareholder. In the last fiscal it also announced the distribution of right issue at the rate of 4:1. The board also decided to convene this year’s annual general body meeting on 18th August at Fine Arts Hall, Ernakulam.


CIAL, the only airport company that handled more than 5 million passengers a year, in the state. In 2014-15 it registered a passenger growth of 21 % from 5.3 million to 6.4 million. CIAL cargo also showed an emphatic growth with the handling of 64935 ton which is up by 19.28%.
In order to address the future challenges in indian aviation, the company is now embarked on an ambitious project of building a new international terminal at a cost of Rs. 1050 cr, which is expected to be completed by May 2016. It is all set to be acclaimed as the country’s first power neutral airport by tapping the non-conventional energy sources and building small hydro electric energy plants.
Mr.K.M.Many, Mr.K.Babu, Mr.P.K.Kunhali kutty, Hon. Ministers and CIAL directors, Mr.Jiji Thomson, Chief secretary, Mr.V.J.Kurian, Addl. Chief Secretary and MD, CIAL, Mr.M.A.Yusaffali, Mr. C.V.Jacob, Mr. N.V.George, Mr. E.M.Babu , Mr. K.Roy Paul, Ms. Ramani Damodaran, Directors, Mr. A.M.Shabeer, Mr. Saji K.George, Mr. Sunil Chacko, MR.Lenny Sebastian,CIAL officials, were also present in the meeting of the board of directors.




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CIAL Rights Issue 2015 - Book Closure Notice


COCHIN INTERNATIONAL AIRPORT LIMITED
CIN: U63033KL1994PLC007803
Registered and Corporate Office: Room No 35, 4th Floor, GCDA Commercial Complex,
Marine Drive, Cochin, Kerala – 682031
Tel: +91 484 2374154; Fax: +91 484 2374154; Email: cs@cial.aero; Website: www.cial.aero


RIGHT ISSUE OF 7,65,14,950 EQUITY SHARES
Record Date:24th (Wednesday) June 2015
Issue Opens on:24th (Friday) July 2015
Issue Closes on:22nd (Saturday) August 2015
Book Closure Period:24th June 2015 to 23rd July 2015 (both days inclusive)

NOTICE OF RECORD DATE
=====================

The Board of Directors of Cochin International Airport Limited at its meeting held on 12th June 2015 decided to offer 7,65,14,950 equity shares of Rs 10/- each (“Equity Shares”) for cash at a premium of Rs.40/- per share (i.e. Issue price Rs 50/- per share) in the ratio of 1:4 (i.e. one equity share for every 4 equity shares held) to the existing Equity Shareholders of the Company as on the Record Date, on rights basis for an amount aggregating to Rs.382,57,47,500/- (“Rights Issue”).

Pursuant to Section 91 of the Companies Act 2013, notice is hereby given that the Register of Members and Share Transfer Register of the Company will be closed from 24th June, 2015 to 23rd July 2015 (both days inclusive) for the purpose of taking record of the shareholders of the Company who are entitled to the aforesaid Rights Issue. All valid applications for transfer / transmission of shares delivered to the Company at its registered office till the close of office hours up to 23rd June, 2015 will be considered eligible for the Rights Issue.

The Company will dispatch the Letter of Offer and Share Application Form at the registered address of all the eligible shareholders, before the date of opening of the Rights Issue. The distribution of the Letter of Offer and issue to persons in certain jurisdictions outside India may be restricted by legal requirements prevailing in those jurisdictions.

Any shareholder, who does not receive the Letter of Offer and Share Application Form on or before 08th August 2015, is requested to contact the Company Secretary at the Registered Office, for Duplicate Letter of Offer and Duplicate Share Application Form. Equity shareholders who have neither received the Letter of Offer & Share Application Form nor in a position to obtain duplicates thereof, may apply for the right shares on a PLAIN PAPER giving the relevant details (such as the name of the shareholder, folio no: etc), along with a demand draft for the requisite amount, drawn in favour of the Company and payable at Ernakulam / Cochin. The Shareholders are requested to send the same by registered post directly to the Company, so as to reach the Company on or before Issue Closing date (22nd August 2015).
Equity shareholders are also advised to inform change of address if any, to the Company’s registered office before the Record Date (24th, June, 2015) for updating the Register of Members.
By Order of the Board
for Cochin International Airport Limited


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CIAL all set to become the first solar powered airport in the country

After adorning many firsts in its cap, like being the pioneer in PPP model in building an airport to introducing a path-breaking rehabilitation package for evictees, Cochin International airport limited (CIAL) is all set to become the first airport in the country which would be operating on solar power. When the PV panels laid across 45 acres near cargo complex become functional, in near future, Cochin airport will have 50000 to 60000 thousand units of electricity per day to be consumed for all its operational functions, which will technically make the airport ‘ absolutely power neutral ‘.
 CIAL has ventured into the Solar PV sector during March 2013, by installing a 100 kWp solar PV Plant on the roof top of the Arrival Terminal Block. This was a trend setter in the field of grid-connected solar PV in the State of Kerala. The plant was installed by the Kolkata based M/s Vikram Solar Pvt. Ltd. 400 numbers of polycrystalline modules of 250Wp with five numbers of 20kW capacity Refu-sol make string inverters were used in this plant. This is a grid connected system without any battery storage.
After the successful commissioning of this plant, CIAL installed a 1 MWp solar PV power plant partly on the roof top and partly on the ground in the Aircraft Maintenance Hangar facility within the Airport premises. This plant was installed by Emvee Photovoltaic Power Pvt. Ltd. 4000 numbers of monocrystalline modules of 250Wp with thirty three numbers of 30kW capacity Delta make string inverters were used in this plant, which is the first Megawatt scale installation of Solar PV system in the State of Kerala.
Both these plants are equipped with a SCADA system, through which remote monitoring is carried out. After commissioning, these plants have so far saved more than 550MT of CO2 emission contributing to the efforts of CIAL towards minimizing environmental degradation.
CIAL is now in the process of setting up a 12MWp solar PV plant as part of its green initiatives. This will come up in an area of about 45 acres near the International Cargo premises. The work has been awarded to M/s Bosch Ltd. The project components include PV modules of 265Wp capacity manufactured by Renesola, and Inverters of 1MW capacity manufactured by ABB India. After commissioning, this installation is expected to generate around 48000 units per day, which along with the electricity generated from the existing 1.10 MWp plants, would be sufficient to meet the power requirement of the Airport. The 12MWp PV Plant is expected to be commissioned during August 2015.

Sandip Ginodia , Director
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Tuesday, 9 June 2015

RBL Bank is expanding in at a brisk pace

RBL Bank, a mid-sized lender, is a potential takeover target for some larger banks. Not surprising, considering that the bank has been turned around in the last four years by its Managing Director and CEO, Vishwavir Ahuja. "Many," says Ahuja, when asked whether any bank had approached RBL for a friendly merger.
Indeed, several old private-sector banks have been acquired in recent years. Unlike RBL (formerly Ratnakar Bank), the survival of most of them was at stake because of poor operating performance. Ahuja is confident of the future prospects of his bank. "There is no question of any merger," he says. Clearly, the bank, under a new management since June 2010, which includes foreign bankers, is aiming big.
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In the BT-KPMG study, RBL has emerged as a "Growth Winner" among mid-sized banks. It has a balance sheet size of Rs 18,198 crore and grew its deposits by 39 per cent and advances by 54 per cent in 2013/14. The three-year compound annual growth rate (CAGR) in deposits as well as advances is over 70 per cent. The fee income jumped 110 per cent in 2013/14. The number of branches has jumped from 80 in 2010 to close to 200 now. "We are very much in the interim phase in our long journey," says Ahuja.
The urge to merge
Several old private banks have merged with bigger banks but RBL plans to go it alone
RBL, under Ahuja, actually went and bought the credit card business of Royal Bank of Scotland in August 2013. In the last four years, Ahuja has revamped the top management, raised capital from marquee names, rebranded its identity as RBL, and launched Internet banking, among other business initiatives.RBL focused on small and medium enterprises when Ahuja took over. The total size of the loan book was just Rs 900 crore and the bank also had a negative return on equity (ROE) in 2010. Today, all its businesses have been expanding at a scorching pace, expanding anywhere between four and 10 times in the past four years. Its loan book is now about Rs 9,835 crore and it has an ROCE of 5.12 per cent.
"We want to be a mass-banking institution rather than an urban-centric bank," says Ahuja. The bank already has a presence in 13 states and will expand to 17 states next year and 20 states in 2016.
The next trigger for the bank's growth will come from its IPO, according to Ahuja. "We will raise a significant chunk of capital in the near future," he says. But there are challenges ahead. The big private banks, including HDFC Bank and ICICI Bank, are expanding into rural and semi-urban India, a thrust area for RBL. The Reserve Bank of India's new differentiated licensing mechanism will create new payment and small banks focused on rural and semi-urban centres. But Ahuja remains unfazed. "The competitive landscape will definitely change in the future, but there is enough space for everyone," he says.



Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
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RBL Bank Partners with CDC to Expand its Financial Literacy Program 'Saksham' in Madhya Pradesh

RBL Bank (formerly The Ratnakar Bank Ltd.) and CDC (the UK development finance institution) have announced a new financial literacy program that will be rolled out in Madhya Pradesh.


The new initiative, which builds on RBL Bank’s ‘Saksham’ program, will aim to increase financial inclusion (FI) by extending financial literacy to around 25,000 individuals and 300 villages in four districts of Madhya Pradesh during 2015. The programme, which will be designed and implemented by Accion India, will target rural areas where levels of education are low and levels of financial exclusion are high. In depth classroom-style training will be supplemented by a mass awareness campaign that will specifically cater for people with low literacy levels.

The umbrella financial literacy program ‘Saksham’ was launched by RBL Bank in December 2013 and through its partnerships has reached out to approximately 35,000 individuals from low-income communities in the States of Gujarat and Maharashtra.

RBL Bank currently serves over 700,000 individuals under various financial inclusion initiatives and offers products and services in over 6,000 villages across Maharashtra, Goa, Karnataka, Gujarat, Rajasthan, Madhya Pradesh and Tamil Nadu.


Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
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RBL Bank supports Happay in launching cards

Founded in 2012, Happay is a business expense management solution that streamlines an organization’s expense workflow. It is an end-to-end solution that take cares of expense management to reporting and gives real-time visibility and control over business spending. Anshul Rai and Varun Rathi, both from IIT Kharagpur (batch of 2010) are the brains behind happay and have been trying to crack a piece of the payments puzzle. The team has been at it for a couple of years and has now figured out a way forward with support from RBL Bank in launching the cards and funding from AngelPrime, a seed stage VC fund.

happay_founders














Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
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Monday, 8 June 2015

United India ties up with Catholic Syrian Bank to offer PM Suraksha Bima

United India Insurance Company Ltd has signed an MoU with Catholic Syrian Bank for the Prime Minister Suraksha Bima Yojana.
This is a personal accident insurance master policy covering all savings bank account holders of the bank between 18 and 70 years of age and declared for insurance coverage against death or permanent disability for ₹2 lakh.

Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
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Monsoon of unlisted PSU IPOs to hit India soon; 25 companies to sell shares for the first time

The government has drawn up a list of 25 state-owned companies that could sell shares to the public for the first time, possibly raising more than a third of India's record divestment target for the fiscal year.

They include profit-making arms of Coal India and ONGC that could help the government get around Rs 25,000 crore in total. Such a move could fire up the primary market besides giving government finances a big boost. The department of disinvestment has written to the administrative ministries.



"The idea is to create a pipeline for the next two-three years," the official said. This needs to be done as the government is close to the 51 per cent stake level in several listed stateowned companies, the person said. "So, the ideal situation is that we have approvals for stake sale in these firms and we can proceed depending on market conditions."
The unlisted firms may include ONGC Videsh, Southern Coalfields, Bharat Broadband, KIOCL and Mazagon Dock.

"While we can fast track stake sales in already listed firms through the offer for sale (OFS) mechanism, it is essential that all profitable CPSEs (central public sector enterprises) realise their true valuation through listing and further unlock their potential," the official said.
As per the Public Enterprise Survey 2013-14, India has 234 CPSEs, of which 46 are listed.

Some of the profitable ones, including subsidiaries, are South Eastern Coalfields, ONGC Videsh, Bharat Bhari Udyog Nigam, Antrix Corp. and various railway units.

In the case of subsidiaries, the amount raised by the listing will flow into the parent company, which in turn can offer better dividends to the government and increase capital expenditure.
 

"The idea is to create a pipeline for the next two-three years," the official said. This needs to be done as the government is close to the 51 per cent stake level in several listed stateowned companies, the person said. "So, the ideal situation is that we have approvals for stake sale in these firms and we can proceed depending on market conditions."


Sandip Ginodia , Director
We deal in over 60 unlisted companies with 15 years of experience .
For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .
"The idea is to create a pipeline for the next two-three years," the official said. This needs to be done as the government is close to the 51 per cent stake level in several listed stateowned companies, the person said. "So, the ideal situation is that we have approvals for stake sale in these firms and we can proceed depending on market conditions."

The unlisted firms may include ONGC Videsh, Southern Coalfields, Bharat Broadband, KIOCL and Mazagon Dock.

"While we can fast t ..


"The idea is to create a pipeline for the next two-three years," the official said. This needs to be done as the government is close to the 51 per cent stake level in several listed stateowned companies, the person said. "So, the ideal situation is that we have approvals for stake sale in these firms and we can proceed depending on market conditions."

The unlisted firms may include ONGC Videsh, Southern Coalfields, Bharat Broadband, KIOCL and Mazagon Dock.

"While we can fast t ..

The government has drawn up a list of 25 state-owned companies that could sell shares to the public for the first time, possibly raising more than a third of India's record divestment target for the fiscal year.

They include profit-making arms of Coal India and ONGC that could help the government get around Rs 25,000 crore in total. Such a move could fire up the primary market besides giving government finances a big boost. The department of disinvestment has written to the administrati ..

The government has drawn up a list of 25 state-owned companies that could sell shares to the public for the first time, possibly raising more than a third of India's record divestment target for the fiscal year.

They include profit-making arms of Coal India and ONGC that could help the government get around Rs 25,000 crore in total. Such a move could fire up the primary market besides giving government finances a big boost. The department of disinvestment has written to the administrati ..

MSTC gets Odisha government's mandate to e-auction liquor licences

: "There are only two real ways to get ahead today, sell liquor or drink it." What American actor WC Fields probably said in the early nineties still holds true — at least for state-owned trading company MSTC Ltd. From auctioning scrap to selling liquor dealerships, the lesser known PSU has come a long way. In a first-of-its-kind move, MSTC has been approached by the Odisha government to e-auction the state's liquor licences.

So far, the state has been holding manual auctions for the dealerships. Thanks to the coal auctions, the miniratna company under the steel ministry is in demand, with none other than power and coal minister Piyush Goyal and Andhra Pradesh chief minister Chandrababu Naidu among its admirers.
"The coal minister, who is a chartered accountant himself, and tech savvy Chandrababu Naidu are very impressed with MSTC's work," said a company official. Other states including Rajasthan, Madhya Pradesh and Andhra Pradesh have approached MSTC for transparent sale of minerals.
Formed in 1964 as a small trading company with a capital of mere Rs 6 lakh, MSTC today deals in a wide range of items, including land, iron ore, tendu leaves, sandal and even human hair, grossing revenue of Rs 5,330 crore for the year ended March 2014. The company conducts e-auctions of human hair for the Tirupati Balaji temple in Andhra Pradesh. The temple earns Rs 200 crore annually from the auction against about Rs 35 crore earlier.
MSTC earned Rs 10 lakh as a fee for each coal block it sold through e-auction. It also manages the auction of re-gasified liquefied natural gas for the power ministry under its bailout scheme for gas-based power plants. With a staff strength of 300-odd people across India, the PSU develops separate trading portals for each kind of auction.
MSTC has become indispensable for stateowned power utility NTPC, which recently sold fly ash on its portal at four times the normal price. NTPC is likely to engage MSTC to conduct global bidding to find mine developers for coal blocks that were recently allocated to the generation company.
After the success of the first coal block auctions in the country in February this year, MSTC attracted many states as clients eager to do business with it. "Earlier, when we visited various states to get business, we were kept waiting before the official meeting but now the states are themselves approaching us to conduct auctions of various minerals, among other things," the official at MSTC said.
The company plans to ride the success wave and end the current financial year with a healthier bottom line, the official said. MSTC also plans to spread its wings to other territories, including power trading. It plans to venture into trading of electricity on the lines of power exchanges such as India Energy Exchange and Power Exchange of India. The dream, however, is in a very nascent stage.
auctions in the country in February this year, MSTC attracted many states as clients eager to do business with it. "Earlier, when we visited various states to get business, we were kept waiting before the official meeting but now the states are themselves approaching us to conduct auctions of various minerals, among other things," the official at MSTC said.

The company plans to ride the success wave and end the current financial year with a healthier bottom line, the official said. MSTC also plans to spread its wings to other territories, including power trading. It plans to venture into trading of electricity on the lines of power exchanges such as India Energy Exchange and Power Exchange of India. The dream, however, is in a very nascent stage.

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

Tamilnad Mercantile Bank standalone net profit rises 69.11% in the March 2015 quarter

Total Operating Income rise 6.00% to Rs 743.57 crore
Net profit of Tamilnad Mercantile Bank rose 69.11% to Rs 134.54 crore in the quarter ended March 2015 as against Rs 79.56 crore during the previous quarter ended March 2014. Total Operating Income rose 6.00% to Rs 743.57 crore in the quarter ended March 2015 as against Rs 701.46 crore during the previous quarter ended March 2014. For the full year,net profit rose 26.14% to Rs 379.40 crore in the year ended March 2015 as against Rs 300.77 crore during the previous year ended March 2014. Total Operating Income rose 4.92% to Rs 2835.53 crore in the year ended March 2015 as against Rs 2702.65 crore during the previous year ended March 2014.

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