Category: Finance

Mumbai (Maharashtra) [India], June 17: Indxx, a provider of indexing solutions for exchange traded funds (ETFs), is pleased to announce the licensing of the Indxx U.S. Infrastructure Development Index to Global X ETFs Australia. The Index serves as the underlying benchmark for the Global X US Infrastructure Development ETF (Ticker: PAVE), which began trading today on the Australian Securities Exchange (ASX).  

The Indxx U.S. Infrastructure Development Index is designed to measure the performance of companies that provide exposure to infrastructure development in the United States. This includes companies involved in the construction and engineering of infrastructure projects; the production of infrastructure raw materials, composites, and products; producers/distributors of heavy construction equipment; and companies engaged in the transportation of infrastructure materials.

A New Era for U.S. Infrastructure

The American Society of Civil Engineers (ASCE) gave America’s infrastructure a grade of C- in their 2021 Infrastructure Report Card. This is the first time in 20 years that America has been ranked out of the D range.1

The Congress has passed several bills, such as the Infrastructure Investment and Jobs Act and the CHIPS and Science Act that will cumulatively invest over $1.2 trillion in modernizing infrastructure in the

United States between 2021 and 2030.2

Rahul Sen Sharma, President and Co-CEO at Indxx said, “Infrastructure is the backbone of a nation’s economy, facilitating trade, enhancing communication, creating job opportunities, and powering businesses. Between 2021 and 2023, the government has invested over $120 billion in U.S infrastructure.2 As of May 2024, private companies have announced $866 billion in manufacturing investments.3 The increasing public and private investments in infrastructure provide a promising outlook for this industry. The success of the Global X U.S. Infrastructure Development ETF (NYSE: PAVE) listed in the United States which tracks our Indxx US Infrastructure Development Index, is a testament to this potential. With over $7.5 billion in assets, the US-listed PAVE’s success highlights investor confidence in the promising future of infrastructure investments. We are excited to partner with Global X ETFs Australia to help Australian investors capitalize on the U.S. infrastructure growth opportunity.”

Vaibhav Agarwal, Chief Product Officer at Indxx added, “The Indxx U.S. Infrastructure Development Index employs a research-focused methodology to provide access to leading companies across the entire U.S. infrastructure value chain, encompassing Construction & Engineering Services, Raw Materials and Composites, Products and Equipment, and Industrial Transportation. To be eligible for inclusion, companies must generate more than 50% of their revenue within the United States, ensuring a targeted and accurate representation of the U.S. infrastructure industry. We are excited to introduce this innovative strategy to the Australian market through Global X ETFs Australia.” 

Evan Metcalf, CEO at Global X ETFs in Australia said, “PAVE is a strategic addition to the company’s product suite which not only fills a gap in the market, but client portfolios. Infrastructure development is critical for the growth and modernisation of any economy. Within the U.S., recent legislative acts are directing substantial funding towards infrastructure, signalling enormous growth potential for companies in this sector. This investment opportunity aligns strongly with our core investment thesis of research and innovation. Building on our successful track record of pioneering thematic products in Australia – including our recent launch of GXAI which also tracks an index administered by Indxx – we are excited to introduce this unique infrastructure development ETF to Australian investors.”

As of June 05, 2024, the index has 99 constituents. The index has been back tested to January 31, 2011, and has a live calculation date of February 17, 2017.

For additional information, please see here.

1. ASCE 

2. Visual Capitalist 

3. White House 

About Indxx

Founded in 2005 and with offices in the United States and India, Indxx is a leading index provider delivering innovative solutions to the investment management community at large. These range from end-to end indexing services to data and technology products.

Indxx and products tracking its indices have been nominated for and received numerous awards, including ‘Index Provider of the Year’ at the With Intelligence Mutual Fund & ETF Awards 2022 & 2023, ‘Best Index Provider – Emerging

Markets ETFs’ at the ETF Express US Awards in October 2020, and ‘Most Innovative ETF Index Provider’ for the Americas at the 14th Annual Global ETF Awards in July 2018.  

For more information about Indxx, please visit: http://www.indxx.com/

For more information about this announcement, please contact:  

marketing@indxx.com 

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Mumbai (Maharashtra) [India], June17:  Mumbai based Falcon Technoprojects India Ltd specialized in providing mechanical, electrical and plumbing services to clients across sectors such as petroleum refineries, housing estates, nuclear power, construction etc is planning to raise up to Rs. 13.69 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue open for subscription on June 19 and closes on June 21. The Proceeds of the public issue will be utilised to fund company’s expansion plans including meeting working capital requirements and general corporate purposes. Kfin Technologies Ltd is the lead manager of the issue.

Company to issue 14.88 lakh Equity shares of Rs. 10 face value at Rs. 92 per share; To list NSE EMERGE Platform of NSE

The initial public offering of Rs. 13.69 crore comprises of a fresh issue of 14.88 lakh equity shares of face value Rs. 10 each at Rs. 92 per share. Out of the fresh issue of Rs. 13.69 crore, company plans to utilize Rs. 10.27 crore towards working capital requirements and Rs. 2.81 crore towards general corporate purpose. Minimum lot size for the application is 1200 shares which translates in to investment of Rs. 1,10,400 per application.

Retail investor quota for the IPO is kept at 50% of the net offer. Promoter holding pre issue stands at 84.20%.  

Established in 2014, Falcon Technoprojects India Limited provides mechanical, electrical and plumbing services to its clients across India and operates in various sectors such as petroleum refineries, housing estates, nuclear power, construction, etc. The company offers mechanical, electrical and plumbing (MEP) services. These services include the design, selection and installation of integrated mechanical, electrical and plumbing systems. This includes the installation of air conditioning, power and lighting systems, water supply and drainage, fire protection and fire extinguishing systems and telephones. Company’s client list includes – BARC, BPCL, Akashvani, NPCIl, MOIL, Air India, Tata Housing, Lodha, L&T, JSW, GVK, Shapoorji Pallonji, Reliance, HAL, Jio, Hubtown among others.

For 10 months of FY23-24 ended January 2024, company has reported net profit of Rs. 87 lakh and revenue of Rs. 10.37 crore as compared to profitability and revenue of Rs. 1.04 crore and Rs. 16.57 crore for 12 months of FY22-23.

As on January 2024, Net Worth of the company was reported at Rs. 8.98 crore, Reserves & Surplus at Rs. 5.11 crore and Asset base of Rs. 21.43 crore. As on 31^st January 2024, ROE of the company was at 9.68%, ROCE at 11.54% and RONW at 9.68%. Shares of the company will be listed on NSE’s Emerge platform.                     

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Nashik (Maharashtra) [India], June 17:  KBC Global Ltd ( Previously known as Karda Construction Limited ) BSE – 541161, a prominent player in the construction and real estate development sector has been awarded a significant subcontract worth approximately US $20 million by CRJE (EAST AFRICA) Ltd. CRJE is a modern enterprise with a rich history in constructing railways and five-star hotels across Africa.

Highlights:-

• Company’s wholly owned subsidiary, Karda International Infrastructure Ltd received this contract
• KBC Global has taken its first step in becoming a key part of Africa’s Infrastructure development.
• Company has also announced a strategic plans for expansion in both domestic and international markets.

This substantial contract focuses on the civil engineering segment of soft infrastructure and represents a major milestone for KBC Global. The contract was secured through KBC Global’s wholly-owned Kenyan subsidiary, Karda International Infrastructure Limited, underscoring the company’s expanding footprint in the African market.

The contract award highlights KBC Global’s growing capabilities and reputation in international infrastructure development. This project is a testament to the company’s commitment to contributing to Africa’s infrastructure growth, marking its first major step in becoming a key player in the continent’s development. With this achievement, KBC Global is poised to make significant contributions to East Africa’s infrastructure landscape, aligning with the region’s ambitious growth and development goals.

Originating from the TAZARA Construction Aiding Team of the Jianchang Engineering Bureau under the China Ministry of Railways, CRJE is also part of the prestigious China Railway Construction Group company, established to drive business development in East Africa.

Established in 2007, company has made significant strides in the real estate industry, specializing in the development and sale of residential and residential-cum-office projects in Nashik, India. The company operates primarily in two segments: construction and development of residential and commercial projects, and contractual projects. Notable projects of the company include Hari Gokuldham, Hari Nakshtra-ll Eastext Township, Hari Sanskruti ll, Hari Siddhi, and Hari Samarth, among others.

The company has also announced a strategic plans for expansion in both domestic and international markets. In the month of April 2024, board of directors considered and approved conversion of total 60 bonds into equity shares as per the terms and conditions of the issue of FCCB.

On June 4, 2024 company has announced that it has successfully handed over possession of 12 units from its residential cum commercial project Hari Kunj Mayflower (RERA Reg no : P51600020249) during month of April and May 2024. On the occasion of Gudi Padwa, the company has successfully handed over possession of 54 units of the project Hari Kunj Mayflower (MAHARERA Reg no : P51600020249), a residential cum commercial project situated at Karmayogi Nagar, Nashik ,Maharashtra.

The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory frameworks, and overall economic conditions. Government initiatives like “Housing for All” and the Pradhan Mantri Awas Yojana further underscore the growth potential in the industry. Additionally, infrastructure megaprojects such as highways, airports, and metros are contributing to the expansion of the real estate market.

In the financial year 2022-2023, Karda Construction Limited reported revenues of Rs. 10,818.56 Lakhs.

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Mumbai (Maharashtra) [India], June 17:  Ahmedabad basedWinny Immigration and Education Services Ltd engaged in the visa consultancy and immigration services is planning to raise up to Rs. 9.13 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue open for subscription on June 20 and closes on June 24. The Proceeds of the public issue will be be used for business expansion including opening new offices, software development, repayment of debt, Branding and Advertising and general corporate purposes. Interactive Financial Services Ltd is the lead manager of the issue.

Company to issue 6.52 lakh Equity shares of Rs. 10 face value at Rs. 140 per share; To list NSE EMERGE Platform of NSE

The initial public offering of Rs. 9.13 crore comprises of a fresh issue of 6.52 lakh equity shares of face value Rs. 10 each at Rs.140 per share. Out of the fresh issue of Rs. 9.13 crore, company plans to utilize Rs. 2.88 crore towards software development, Rs. 97 lakh towards opening offices across India, Rs. 1.59 crore for repayment of Debt, Rs. 1 crore for branding and advertising, Rs. 1.99 crore towards general corporate purpose. Minimum lot size for the application is 1000 shares which translates in to investment of Rs. 1.40 lakh per application. Retail investor quota for the IPO is kept at 50% of the net offer. Promoter holding pre issue stands at 83.63% which post issue will be 58.51%.  

Mr. Jignesh Patel, Director, Winny Immigration and Education Services Ltd, said, “Winny Immigration aspires to stand as the foremost visa consulting firm globally, renowned for its expertise, ethics, and steadfast commitment to client success. The first plan is to develop an in-house, complete digital consultation and service delivery module to enhance the accessibility and efficiency of services. For this, the company has recently implemented AI-based automation in their operations and service delivery methods, which has led to a notable enhancement in service timelines. Moreover, they are actively working on the development of an AI-based web portal and a mobile application to provide all solutions on a single platform. The company is also actively working on expanding its presence in the Middle East and other South Asian markets.”

Incorporated in 2008, Winny Immigration and Education Services Ltd. is primarily involved in the visa consultancy business. The company assists individuals for study, travel, work, business, and migration purposes. The company has assisted thousands of clients with immigration and visa processes, providing visa consultancy. The company has 12 offices in Gujarat, Maharashtra, and Delhi, including branches, franchisees, and a virtual office in Canada.

Winny offers visa guidance, immigration assistance, and documentation services. The company provides consultations for the following services:

1. Training for Language Proficiency Examinations,

2. Consulting and processing a variety of Temporary Residence Visas,

3. Consulting and processing Permanent Residency Visas.

For FY23-24 ended March 2024, company has reported net profit of Rs. 39.27 lakh and revenue of Rs. 11.02 crore as compared to profitability and revenue of Rs. 1.45 crore and Rs. 11.97 crore for 12 months of FY22-23.

As on 31^st March 2024, Net Worth of the company was reported at Rs. 2.30 crore, Reserves & Surplus at Rs. 79 lakh and Asset base of Rs. 5.43 crore. As on 31^st March 2024, ROE of the company was at 18.6%, ROCE at 15.74% and RONW at 17.02%. Shares of the company will be listed on NSE’s Emerge platform.                   

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Creditwalle is redefining financial dynamics with the launch of its revolutionary financial services platform, empowering borrowers with instant loan offerings, seamless lending process, transparency, and 24/7 accessible customer support team, so borrowers can find what they are looking for without going through a tedious process. 

In the era of fast-paced lifestyles and digital advancements, loans from easily accessible websites can turn out to be an incredibly useful source of funding, reshaping the financial landscape. Instant loan websites, accessible via laptops and smartphones, make a quick and efficient solution for borrowers to secure financial assistance in the most hassle-free way. The popularity of websites for instant loans is soaring, considering their user-friendly interface, easy access to funds, prompt disbursal, 24-hour accessibility, credit score protection, quick and high conversion, and many more factors. 

Creditwalle’s revolutionary borrowing platform is a swift solution for instant digital borrowing requirements. The comprehensive instant loan offerings by Creditwalle are not just reshaping financial services but also crafting a future where risk management, efficiency, and accessibility take center stage. Each Creditwalle service is transforming instant lending by making it convenient for borrowers to access credit easily. The company uses the latest technology and analytical tools to assess the creditworthiness of users accurately and rapidly. 

The modern-day instant loan disbursal platform https://www.creditwalle.com/ provides credit to borrowers directly into their accounts in a few hours. The financial services platforms strive to fill the market gap where potential borrowers can get a loan instantly without falling prey to the complexities of the traditional borrowing system. Users are searching for high-end borrowing solutions for instant medical emergency loans, home renovation loans, travel and leisure loans, etc. 

Revolutionising borrowing with instant loan offerings, Creditwalle is a trailblazing financial services provider, redefining financial dynamics by delivery of quick and seamless financial solutions. While the traditional borrowing process includes thorough steps like filling out a lengthy application form and sharing sensitive financial details, Creditwalle offers a seamless and secure financial lending experience. The platform enables individuals to efficiently and securely manage their finances. 

Creditwalle enables businesses to swiftly manage their financial needs by redefining the lending experience for them. The platform offers short-term loans to meet diverse business needs, from optimizing cash cycles to fulfilling new orders in a hassle-free way.

A unit of Woodland Securities Private Limited, Creditwalle is a user-friendly platform redefining the lending experience with its tech-driven approach. Borrowers can apply for loans online and get them in minutes. The flexible repayment terms and minimal hassle empowers users with innovative credit solutions. 

The Founder of the revolutionary borrowing platform shares, “Creditwalle is redefining financial dynamics by providing efficient and seamless access to funds for individuals to expand and flourish. The rising Indian NBFC platform is a change-maker reshaping the financial landscape by making it convenient for anyone to access credit on the go. The simplicity, speed, and inclusivity promoted by this instant loan platform will continue to shape the financial industry by offering easy access to personal funds.

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Creditwalle is making borrowing effortless with the launch of its next-generation financial services platform. The company is empowering borrowers with transparency, a fast lending mechanism, and 24/7 customer support to ensure borrowers don’t feel the urge to shift preferences. 

Today, the financial market is consistently evolving based on the growing demand for accessibility, speed, and convenience. Instant loan websites like Creditwalle have emerged out of the blue to make instant loans accessible for every individual on short notice. Easy-to-use website interface, 24-hour and seven days week availability, convenient access to funds, and quick instant loan disbursal account for the rising popularity of instant loan websites such as Creditwalle. The website also provides single application forms, unbiased real ARPs, high conversion, credit score security, and a lot more. Getting hands-on instant loans in minutes is not just an expectation but a possibility with Creditwalle by one’s side.

Creditwalle’s next-generation financial services platform plays an important role in borrowing online. The comprehensive fintech approach followed by this financial services platform makes the borrowing process effortless so that once followed by the borrower, it will no longer be a hassle the next time. Each service offered by Creditwalle screams convenience and transparency making prompt loan disbursal a reality for emergency needs of individuals. People searching for game-changing and seamless financial support can apply for instant loans at this financial services platform by submitting details to enjoy seamless disbursal. 

Modern-day financial services platforms such as Creditwalle know the unheard hassle faced by borrowers when it comes to lending. The acclaimed financial services platform ensures borrowers never have to go through a financially tense situation due to the limitation of funds. The platform offers borrowers a wide range of personal loan solutions so they can meet financial obligations without risking their assets. Borrowers searching for quick financial solutions can count on Creditwalle to solve home renovation loans, immediate shopping loans, instant medical emergency loans, travel and leisure loans, and other needs. The convenience and transparency promised by the financial services platform make the whole borrowing process a breeze.

Creditwalle does not disappoint borrowers expecting a seamless borrowing experience, unlike traditional loan systems. Borrowers can skip filling out lengthy forms and sharing sensitive details like personal income when relying on Creditwalle to meet their financial needs. The platform promises instant loan disbursal for borrowers online at any time of the day. One won’t have to sacrifice their financial liabilities and integrity just to get a small loan. The repayment tenures and fast availability of cash are other benefits of choosing Creditwalle.

https://www.creditwalle.com/ is a unit of Woodland Securities Private Limited. The Founder of Creditwalle shares, “We are dedicated to making the borrowing experience effortless for people of the 21st century. People no longer have to disclose sensitive details and financial liabilities to get their hands on a loan. We can offer them what they are looking for, and that too with flexible repayment tenures so they can save their energy to boost productivity, not health concerns.”

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New Delhi (India), June 14: All India– Purple Finance, a MSME focused lender proudly announces its successful listing on the BSE Limited, trading under Scrip ID PURPLEFIN | Scrip Code: 544191. This marks a pivotal milestone in the Company’s journey, reflecting strong market confidence and investor enthusiasm for Purple Finance’s strong business outlook. 

The stock listing of Purple Finance has generated significant interest, with the stock opening at 119.02 and closing at 123.07, indicating robust investor demand. This successful market debut underscores the Company’s potential for continued growth and market leadership.

Mr. Amitabh Chaturvedi, Promoter & Executive Chairman, Purple Finance Limited, expressed excitement about the listing: “Today is a landmark day for Purple Finance. Our successful listing on BSE is a testament to the hard work and dedication of our entire team, as well as the trust and support of our customers and investors. We are excited about this new chapter and remain committed to delivering MSME focused loans   that will help our customers transform their lives & meet their working capital or business needs with our timely disbursed loans driving long-term value for both our customers and stakeholders.”

Purple Finance, at present has a network of 24 branches covering the states of Maharashtra, Madhya Pradesh, Gujarat & has now ventured into Uttar Pradesh with a team strength of close to 200 people on the ground propelling its growth. Currently, Purple Finance has more than 750 customers and have successfully disbursed around Rs 40 crore till date. All the loans are fully secured by self-occupied properties & are in the ticket size range of Rs 5-Rs 7 lakhs, helping the unorganized nano enterprises with its funding needs in the tier III & IV district towns encompassing rural & semi urban population. 

Contact Details:

Purple Finance Limited

E: investordesk@purplefinance.in 

M: 022-69165100

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New Delhi (India), June 12: EveryDayLoanIndia is leading the way in modern financial solutions with premier short term loans for whenever individuals need them. The new-age fintech platform is empowering borrowers with the fastest loan approvals, 24×7×365 service, easy documentation, and hundred percent customer satisfaction. 

In the past decade, innovative digital technology has immensely transformed financial services. Modern-day fintech platforms like EveryDayLoanIndia are now driving greater access to financial solutions for the convenience of users. A host of fintech platforms, including EveryDayLoanIndia, have emerged to meet financial needs in the most competitive, inclusive, and efficient way. The trusted modern financial solution serves as an instant loan solution due to its user-friendly interface, prompt disbursal, easy access to funding, quick and high conversion rates, credit score protection, etc.

EveryDayLoanIndia is a unit of the Jointolead solutions Pvt Ltd. EveryDayLoanIndia’s modern financial solutions play a helpful role in financial crises. The quick financial support and services by EveryDayLoanIndia can be used to meet financial commitments or for emergencies. Borrowers can use financial aid for endless purposes to suit their needs. They can take a loan from EveryDayLoanIndia and quickly repay it in a manner where the loan doesn’t become a burden on them. Each loan service they offer ensures a smart and easy borrowing experience.

Modern financial solutions have brought security, seamlessness, and user-friendliness into lending. EveryDayLoanIndia understands this. The platform lives up to the lending expectations of borrowers by extending valuable customer support, reasonable interest rates, real-time loan status updates, no prepayment or foreclosure charges, 24/7 customer service, and funds whenever borrowers need them. https://www.EveryDayLoanIndia.com/ offers different type of loan services and tailor-made instant personal loans for special needs of borrowers. From loans for household emergency needs to loans to clear credit bills, borrowers can almost instantly access funds they need for all kinds of requirements.

EveryDayLoanIndia does not disappoint borrowers in any way. Unlike the traditional loan system, this financial services platform provides borrowers with an easy EMI option that allows them to pay their short-term loan amount on a loan scheme. All the repayments are online to allow borrowers to enjoy accessibility and luxury when it comes to refunds of the amount. The reputed fintech company promises quick financial support and services and a 3-day cooling period. One can enjoy a neat experience by availing oneself of credit without any hiccups. The responsible lending terms further ensure that borrowers can easily access loan services in a professional, secure, and proficient medium. 

The Founder of EveryDayLoanIndia shares, “As financers and tech-elites, EveryDayLoanIndia offers collective expertise of a decade in lending to help customers. The mission of our platform, EveryDayLoanIndia, is to provide funding to all needful customers without any inclinations or preconceptions based on the customer’s ability to repay.”

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New Delhi (India), June 12: Alok Kumar Agarwal Alankit opines, “From renewable energy infrastructure to sustainable agriculture practices, investments in sustainability can drive job creation, foster innovation, and bolster the resilience of communities against climate change impacts. Moreover, by promoting inclusive growth and reducing inequalities, sustainable finance can contribute to India’s broader socio-economic development objectives.”

In the dynamic landscape of global finance, a paradigm shift is underway—one that is steering investments toward sustainability and responsible stewardship. “In recent years, sustainable finance has emerged as a pivotal force in reshaping the financial services sector globally, and India is no exception,” says Alok Kumar Agarwal Alankit, an industry expert in the domain and the former Managing Director of Alankit. This article explores the critical aspects of this trend, from the efforts of financial institutions to the vital role of government policies, and the transformative potential of sustainable finance on India’s economic development. 

The Growing Importance of Sustainable Finance and ESG Criteria in India

Sustainable finance is no longer a peripheral consideration but a central component of financial decision-making. “Recognizing the interconnectedness of financial markets and environmental, social, and governance issues, stakeholders across the spectrum are embracing sustainable practices as a strategic imperative. From organizations to investors, there is a growing realization that sustainability is not merely a moral obligation but also an effective business strategy” explains Alok Kumar Agarwal Alankit. ESG criteria have become essential in assessing the sustainability and ethical impact of investments. In India, this shift is driven by several factors:

Global Trends and Investor Demand: International investors increasingly prioritize ESG compliance, influencing Indian companies to adopt sustainable practices.

Climate Change and Environmental Concerns: India faces significant environmental challenges, including air pollution, water scarcity, and climate change impacts. Sustainable finance addresses these by funding green projects and promoting cleaner technologies.

Social Responsibility and Governance: Improving labor practices, corporate governance, and community development initiatives are critical to enhancing social equity and ethical business conduct.

Financial Institutions Integrating Sustainability Principles

Indian financial institutions are progressively embedding sustainability into their operations. “Leading the charge are forward-thinking financial institutions that are recalibrating their investment decisions and lending practices to align with sustainability principles. Institutions such as banks, asset managers, and insurance companies are integrating ESG considerations into their risk assessments, capital allocation strategies, and product offerings,” mentions Alok Kumar Agarwal Alankit.  By incorporating sustainability metrics into their operations, these institutions are not only mitigating risks but also uncovering opportunities for long-term value creation. Several initiatives highlight this integration:

Green Bonds and Loans: Banks and financial institutions are issuing green bonds to fund renewable energy, energy efficiency, and other environmental projects. “The State Bank of India, for example, has launched green bonds to support sustainable development projects,” explains Mr. Agarwal.

Corporate Sustainability Programs: Leading financial institutions, such as HDFC Bank and ICICI Bank, have established sustainability frameworks guiding their investment decisions and operational practices. These frameworks prioritize financing projects with positive environmental and social impacts.

Potential Impact on India’s Economic Development

The implications of sustainable finance extend far beyond the financial bottom line. “By directing capital towards environmentally friendly and socially responsible projects, sustainable finance has the potential to catalyze India’s economic development in profound ways,” says Alok Kumar Agarwal Alankit. The integration of sustainable finance can be beneficial as follows: 

Job Creation: Investment in green projects such as renewable energy, sustainable agriculture, and eco-friendly infrastructure can generate millions of jobs. The renewable energy sector alone has the potential to employ a substantial workforce in the coming years.

Infrastructure Investment: Sustainable finance can drive significant investments in critical infrastructure. “Projects focusing on sustainable urban development, efficient public transportation, and resilient infrastructure can enhance the quality of life while fostering economic growth,” mentions Mr. Alok Kumar Agarwal Alankit. 

Enhanced Economic Stability: By mitigating environmental risks and promoting social equity, sustainable finance can contribute to a more stable and resilient economy. Companies with robust ESG practices are often better equipped to handle economic downturns and regulatory changes.

While concluding, Alok Kumar Agarwal mentions that “Sustainable finance represents the next frontier for India’s financial services sector. By integrating ESG criteria, financial institutions are not only contributing to environmental and social well-being but also paving the way for long-term economic resilience.” The concerted efforts of financial institutions, supported by robust government policies and successful projects, underscore the transformative potential of sustainable finance in driving India’s sustainable development. 

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Ahmedabad (Gujarat) [India], June 11: Ahmedabad based United Cotfab Limited is engaged in manufacturing of high quality recycled open-end cotton yarn derived from the cotton waste from spinning industry. Originally incorporated in 2015 as United Cotfab LLP is now entering in to equity market and has announced an Initial Public Offer to open on 13th June 2024. The company is aiming to raise ₹ 36.29 Crore at an Issue Price of Rs.70/- per share having face value of each share is Rs. 10, set to be listed on the BSE SME platform. IPO Closing date is 19th June 2024.

IPO Information:

Issue Opens on – Thursday, June 13, 2024

Issue Closes on – Wednesday June 19, 2024

Issue Size – Rs. 36.29 Cr.

Issue Price Rs. 70/-

Face Value – Rs. 10/-

Issue Type – Fresh Issue – Fixed Price

No. of Shares – 51,84,000 Equity Shares

Lot Size – 2000 Equity Shares

HNI Quota – 24,62,000 Equity Shares

Retail Quota – 24,62,000 Equity Shares

Market Maker Quota – 2,60,000 Equity Shares

The Lead Manager to the Issue is Beeline Capital Advisors Pvt. Ltd. and the Registrar to the issue is Purva Sharegistry (India) Pvt. Ltd.

Mr. Gagan Nirmalkumar Mittal, Chairman and Managing Director, having more than 18 years of experience in the Textile Industry Said, “We are pleased to announce our forthcoming IPO. We have a strong foothold in the Yarn Industry and Years of experience in manufacturing Cotton open end yarn. We are engaged in selling and distribution channel of recycled open end cotton yarn and cotton waste. Yarn is the end product of spinning, vital for cotton woven or knitted fabric.

The issue proceeds will be utilized to meet Working Capital requirement and General Corporate Purposes.

About United Cotfab Limited

United Cotfab Limited is located at Dascroi- Ahmedabad Originally incorporated as United Cotfab LLP in 2015 under the LLP Act, 2008. Well Equipped with modern and automatic plant and machinery for manufacturing high-quality open-end yarn for the textile industry. The company uses 100% of raw materials derived out of cotton waste from spinning industry, the cotton waste is used to manufacture the final products of the company in various categories of yarns from 6 counts to 30 counts thereby recycling the waste to yarns. These yarns are sold to corporates and brands to manufacture sustainable garments. In addition to support the environment, company has installed the solar power plant of 1 MW to use green energy. The manufacturing process upholds strict quality standards with advanced technology and machinery support, also manufacturing facility with an annual installed capacity of approximately 9,125 MT. Yarn is widely used in knitting, weaving, crocheting, and various textile products.

The Company recorded a revenue of Rs. 115.53 Crs. with a profit after tax of Rs. 8.67 Crs. in the financial year 2023-24, compared to revenue of Rs. 64.02 Crs. with a profit after tax of Rs. 0.14 Crs. in financial year 2022-23.

For more information please visit: www.unitedcotfab.com

Disclaimer

United Cotfab Limited (“Company”) is contemplating the potential, subject to necessary approvals, market conditions, and other considerations, of initiating an initial public offering of its equity shares (“IPO”) and has submitted the prospectus to the SME Platform of BSE Limited (“BSE SME”). Prospective investors should be aware that investing in equity shares involves a significant level of risk. For detailed information regarding such risks, potential investors are advised to refer to the section titled “RiskFactors” in the Prospectus (“Company”) is contemplating the potential, subject to necessary approvals, market conditions, and other considerations, of initiating an initial public offering of its equity shares (“IPO”).

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