Abhishek Securities

  E-commerce firm Paytm Mall on Friday said its loss narrowed by 60% to  ₹ 479 crore in 2019-20 on account of reduction in assortment size, cashback and promotions. The company had posted a loss of  ₹ 1,171 crore in 2018-19. "During the last fiscal year, we have streamlined business operations to improve our unit economics which has helped us in reducing losses by 60 per cent. Our efforts are to become profitable with hyperlocal outreach and initiatives which have already started giving positive results," Paytm Mall COO Abhishek Rajan was quoted as saying in a statement. The company's total  revenue  for the reported financial year declined about 27% to  ₹ 703 crore as compared to  ₹ 968 crore in 2018-19. "While there has been a 27% decline in revenue due to the overall reduction in assortment and categories, its hyperlocal initiative has started showing results that would lead to overall growth in the revenue over the next few quarters," the statement...

  For the first time in India's insurance sector, the health business has beaten the motor vertical to become the biggest non-life industry segment, boosted by a rise in standard Coronavirus (COVID-19) plans. On the other hand, a slump in vehicle sales has affected motor insurance. Till now, the motor insurance segment, driven primarily by the mandatory motor third-party insurance, has always been the largest business segment in the general insurance sector. However, industry sources said that this year, COVID-19 played spoilsport. “When it comes to third-party cover, it includes insurance for new vehicles as well as renewals. The reality is that customers are not renewing their vehicle insurance since remote working is the new normal. This has severely affected motor premiums,” said the head of sales at a bank-led general insurer. Insurance Regulatory and Development Authority of India (IRDAI) data showed that while motor insurance premiums saw a 15.7 percent decline, health insur...

  Paytm ’s wealth management subsidiary  Paytm Money  has gone live with its stockbroking service for all customers. The service had been running on beta mode since July and was only accessible to select Android users. The company aims to register 1 million new retail investors on the platform by close of the ongoing fiscal year in March 2021, according to Varun Sridhar, the newly appointed CEO of Paytm Money, leveraging on the demand for equity trading among first-time users. The move comes at a time when yields on traditional savings instruments, including bank deposits, are at decadal lows. According to a statement shared by Paytm with ET, the platform’s early access version saw 220,000 users registering on Paytm Money for retail stockbroking. The platform also allows customers to invest in  mutual funds  and pension schemes. "We believe it's an opportunity for us to enable millennials and new investors to build their wealth portfolio. Our technology-enabled ...

  Billionaire  Mukesh Ambani 's  Reliance Industries Ltd   NSE 0.66 %  (RIL) on Saturday said it has received Rs 7,500 crore from US private equity firm Silver Lake Partners, which has picked up 1.75 per cent stake in its retail arm. Earlier, on September 9, RIL had announced that Silver Lake would invest Rs 7,500 crore into its arm Reliance Retail Ventures Ltd (RRVL). RRVL has received "the subscription amount of Rs 7,500 crore from SLP Rainbow Holdings Pte Ltd (Silver Lake)", RIL said in a regulatory filing on Saturday. Following the allotment of equity stake, "SLP Rainbow Holdings holds 1.75 per cent of the fully diluted equity share capital" of RRVL, it said. This investment had valued RRVL at a pre-money equity value of Rs 4.21 lakh crore. This is the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the USD 1.35 billion investment in  Jio Platforms  announced earlier this year. With more than USD ...

  TMB bank holds it’s 94th to 97th AGM On 28th October. All previous resolutions in the earlier AGMs will get addressed in this meeting. Positive signs for future IPO Sandip Ginodia , CEO A LTIUS INVESTECH PVT LTD We deal in over 60 unlisted companies with 15 years of experience  For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

  Swiggy’s experiment with subscription-based daily home-cooked food via a separate app has come to an end. The company had pulled the plug on Swiggy Daily that it had  launched  in May last year, said two sources aware of the development. “Swiggy Daily had ceased operations a couple of months ago in the wake of weak demand,” said one of the sources on condition of anonymity. “The app never got decent traction and its demand further plummeted because of the closure of offices and educational institutions.” Swiggy Daily was largely targeted at users who look for healthy home-cooked food at an affordable price point. It allowed users to choose three days to a month-long subscription. The app got encouraging traction when it launched in Gurugram and Bengaluru. Swiggy Daily used to come with the option to swap, skip and pause it at any point of time. This is the first rollback by the Naspers-backed company this year. It also withdrew Swiggy Super that waives off delivery and ...

  India's potential plan to compel companies to do a secondary listing on an  Indian stock exchange  if they opt to first list on an overseas bourse would unfairly penalise Indian firms, according to a senior executive at fin-tech company  Paytm . "Companies should be allowed to list wherever they want. I think that would be good not just for the companies, but for the digital ecosystem,"  Madhur Deora , a president of SoftBank-backed Paytm, told Reuters in an interview on Tuesday. Deora's comments come as India works on forging rules that would open the doors for Indian startups to list overseas and access deeper capital pools. Earlier this month however, Reuters reported that New Delhi is also considering mandating an Indian secondary listing for any Indian company that opts to first list abroad, a move investors fear will harm valuations. "I would have preferred for that (decision) to be left to companies and their boards," said Deora. "This ...

  IDFC   NSE 6.44 %  First Bank and a few other investors would be looking to lower their ownership in  Suryoday Small Finance Bank , which is in the final laps of making an application for its initial public offer ( IPO ). The proposed IPO would consist of a primary issue and an offer for sale (OFS), people familiar with the matter said. Some of the existing investors would take the OFS route for partly offloading their stakes, they said. International Finance Corporation (IFC), DWM (International) Mauritius, Gaja Capital, Lok Capital and  HDFC Life Insurance Company   NSE -0.03 %  are some of the prominent shareholders in Suryoday, which had Rs 3,700 crore of assets under management as of March. The size of the IPO is likely to be in the range of Rs 550-600 crore while about 40% would be reserved for OFS. The company was earlier looking to raise about Rs 1,400 crore but it pruned the proposed size because of the current challenging market condi...

  Oil-to-retail conglomerate  Reliance Industries  Ltd (RIL) is said to be in the race to acquire Debenhams, a British multinational retailer operating department stores in the UK with franchise stores in other countries, Sky News reported on Wednesday. “The Reliance Retail empire, which last year bought the world-famous British toy store Hamleys, is among a small number of parties in discussions with advisers to Debenhams about acquiring part or all of the 242-year-old retailer," the Sky News report said, adding that people close to the process had indicated that the chain was keen to agree to a takeover by the end of September. However, better-than-expected trading has relaxed the urgency of that timetable in recent weeks, they said. Debenhams, which is currently owned by a consortium of lenders, has been in administration since April, with investment bankers at Lazard responsible for coordinating talks with potential buyers, Sky News said. RIL subsidiary Reliance Brand...

  Global investors which made a beeline to invest in Reliance Industries Ltd’s (RIL’s) digital arm – Jio Platforms – are now vying for billionaire Mukesh Ambani-controlled retail wing of Reliance- Reliance Retail Ventures Ltd Ltd (RRVL). After Jio investors Silver Lake and KKR wrote cheques for RRVL too, it is being reported that private equity (PE) firms General Atlantic and TPG are in talks with RRVL to invest $1 billion each in the latter, said an ET report. That’s not all, yet another global PE firm Advent International showed interest in investing in Reliance Retail, which the report said cannot be confirmed. The development comes close on the heels of RRVL's September 23 announcement that global investment company KKR will infuse Rs 5,550 crore in the RIL subsidiary. This investment valued Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR’s investment will translate into a 1.28 per cent equity stake in RRVL on a fully diluted basis. Before that US-ba...