Category: Finance

Ahmedabad (Gujarat) [India], May 4:  The initial public offering of Ahmedabad-based Sai Swami Metals & Alloys Ltd, makers of DOLPHIN Brand stainless Steel Cookware & appliances and wide range of stainless steel products received overwhelming response for its Rs. 15 crore SME IPO and got subscribed over 500 times. Retail segment was subscribed 528.8 times, while Non institutional investor category was subscribed 558.5 times.

Company received bids for over 128.96 crore equity share aggregating total subscription amount of over Rs. 7,737.60 crores against the 25 lakh shares offered in the public issue. The public issue closed for subscription on May 3. Shares of the company will be listed on BSE SME platform on May 8, 2024.  Grey Market premium on company’s share was around Rs.53 per share indicating a Premium listing of 88.33% as per https://www.investorgain.com

The initial public offering comprises of a fresh issue of 25 lakh equity shares of face value Rs. 10 each. Company has fixed price of Rs. 60 per equity share for the public issue (including a premium of Rs. 50 per equity share). Out of the issue proceeds of Rs. 15 crore, company plans to utilize Rs. 6 crore towards working capital requirements, Rs. 4 crore for investing in a subsidiary, Rs. 2 crore for purchasing machineries and Rs. 2 crore towards general corporate purpose. Minimum lot size for the application is 2000 shares which translates in to investment of Rs. 1.2 lakh per application. Retail investor quota for the IPO is kept at 50% of the net offer.

Mr. Nipun Anantlal Bhagat, Chairman and Managing Director, Sai Swami Metals & Alloys Ltd said, “We are overwhelmed at the response received for the public issue and want to thank all the investors for their trust and confidence in the company and its management. From its humble beginnings in marketing to establishing manufacturing units we have emerged as a dynamic player in the stainless steel industry. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products.”

Source: BSE

Sai Swami Metals and Alloys Ltd is involved in the trading and marketing of a comprehensive array of stainless steel products, addressing the diverse needs of our discerning customers. The company’s product line includes a variety of kitchenware such as Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S. Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various utensils. The Dolphin brand is recognized for trading and marketing stainless steel kitchenware products by the company and its two subsidiaries, Bhagat Marketing Private Limited and Dhruvish Metals LLP. As of December 3, 2023, company has a network of 6 Distributors and more than 150 sub-dealers/stockiest/retailers and strategic alliances in the state of Gujarat, Madhya Pradesh, Maharashtra.

The DOLPHIN brand of the company stands as a beacon of success, reflecting the company’s resilience and lasting impact in the Gujarat market. Over the past three decades, it has consistently translated innovative ideas into an ultramodern range of high-quality kitchenware made from the finest stainless steel material. Company and two subsidiaries i.e. Bhagat Marketing Private Ltd and Dhruvish Metals LLP have a wide range of product portfolio across three categories consisting Cook wears, Kitchenwear and Cutery over 1,200 with different model, each presenting a unique look, style, and personality.                   

For nine months ended December 2023 , company has reported net profit of Rs. 1.79 crore and revenue of Rs. 33.33 crore as compared to full year profitability and revenue of Rs. 3.83 lakh and Rs. 6.27 crore in FY22-23. As on December 2023, Net Worth of the company was reported at Rs. 6.64 crore, Reserves & Surplus at Rs. 2.53 crore, Asset base of Rs. 26.17 crore and RONW at 27.02%.

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Mumbai (Maharashtra) [India], May 3: Piramal Capital & Housing Finance Ltd., herein referred to as Piramal Finance is pleased to announce that their home loan interest rates start at 9.50%*. This competitive interest rate reflects Piramal Finance’s commitment to providing accessible and affordable financing solutions to individuals aspiring to own their dream homes.

Owning a home is a significant milestone for many individuals and families.  With Home Loan starting from a 9.50%* interest rate, Piramal Finance aims to make homeownership more attainable and financially feasible for a broader segment of the population.

Piramal Finance is one of India’s leading players that address the diverse financing needs of the under-served and unserved people of ‘Bharat’ market. With a robust presence, Piramal Finance serves over 2.4 million customers through a network encompassing 470 conventional branches and 179 active microfinance branches. Notably, a significant proportion of these branches are strategically located in the outskirts of major metros as well as in Tier I, II, and III cities.

Key Highlights of Piramal Finance’s Home Loan Offering:

• Competitive Interest Rates: Benefit from attractive home loan interest rates starting from 9.50%*, ensuring affordability and cost-effectiveness over the loan tenure.
• Flexible Repayment Options: Enjoy flexible repayment options tailored to suit your financial circumstances and preferences, including long repayment tenures for enhanced affordability.
• Quick and Hassle-Free Processing: Experience seamless and expedited loan processing supported by a dedicated team of professionals committed to providing personalized assistance at every step of the journey.
• Transparent Terms and Conditions: Rest assured with transparent and straightforward terms and conditions, ensuring clarity and peace of mind throughout the loan tenure.

Whether purchasing your first home, upgrading to a larger property, or refinancing an existing mortgage, Piramal Finance is committed to providing you with the support and assistance you need to make informed decisions and achieve your homeownership goals.

Don’t miss out on this opportunity to secure your dream home with a Home Loan from Piramal Finance. To learn more and apply for a Home Loan, visit www.piramalfinance.com or contact us today.

Terms and conditions apply. Interest rates starting at 9.50%* are based on eligibility criteria and may vary depending on individual credit profiles and market conditions.

To know more, visit – https://www.piramalfinance.com/home-loan 

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Alok Kumar Agarwal Alankit, “At the heart of India’s FinTech revolution lies a relentless pursuit of technological innovation.”

New Delhi [India], May 2: In recent years, India has emerged as a global powerhouse in the field of financial technology or FinTech. India’s FinTech sector showcases remarkable dynamism, epitomizing the nation’s technological prowess. “Advancements across Payments, Digital Lending, InsurTech, and WealthTech underscore its capacity for innovation, positioning India as a global leader in financial technology,” says Alok Kumar Agarwal Alankit. Continuing further he adds, “Notably, the Payments segment has experienced an extraordinary surge in India. UPI transactions alone saw an astounding 82% annual growth in the past fiscal year, totaling 38.87 billion transactions.”

Unprecedented Growth of India’s FinTech Landscape

The FinTech landscape in India has experienced a meteoric rise, transcending traditional boundaries and redefining the way financial services are accessed and delivered. “Per a recent report from venture capital firm Matrix Partners and consulting firm Boston Consulting Group forecasts that Indian fintech companies will generate approximately $190 billion in revenue by 2030,” quotes Alok Kumar. From payments to lending, insurance, and wealth management, every facet of the financial sector has witnessed a significant boost. “The proliferation of smartphones, coupled with the government’s push for digitalization, has fueled this growth, paving the way for innovative FinTech solutions to thrive,” mentions Alok Kumar Agarwal Alankit. 

Leveraging cutting-edge technologies such as artificial intelligence (AI), blockchain, and data analytics, FinTech companies are revolutionizing the way financial services are conceptualized and executed. “AI-driven algorithms are enabling personalized financial recommendations, blockchain is ensuring transparent and secure transactions, while data analytics is unlocking valuable insights to drive informed decision-making,” says Alok Kumar Agarwal. 

Regulatory Support & Enhanced Financial Inclusion

“According to a report by Tracxn, Q1 2024 witnessed total funding of $551 million, a significant surge compared to the $346 million raised in the previous quarter,“ mentions Alok Kumar Agarwal Alankit. This momentum propelled India to secure the third position globally in terms of funding raised for the FinTech sector during the first quarter of the year, underscoring the sector’s growing prominence on the global stage.

Explaining the reason for this increased funding, Alok Kumar Agarwal Alankit explains, “The regulatory environment in India has also evolved to embrace FinTech innovation, providing a conducive backdrop for growth and expansion. Regulatory bodies have introduced progressive policies and frameworks to foster innovation while safeguarding consumer interests. This regulatory support has instilled confidence among investors and stakeholders, fueling further investment and innovation in the sector.”

One of the most significant achievements of India’s FinTech sector is its role in enhancing financial inclusion. Through innovative solutions and strategic partnerships, FinTech firms are bridging the gap between traditional banking services and underserved populations, empowering millions of Indians with access to essential financial services. From rural farmers to urban micro-entrepreneurs, FinTech is democratizing finance and creating a more inclusive economy. 

Focus on Cybersecurity and Future Outlook

“As the FinTech sector continues to soar, cybersecurity emerges as a critical concern,” opines Alok Kumar Agarwal. With the proliferation of digital transactions, safeguarding sensitive financial data has become paramount. “FinTech companies are investing heavily in robust cybersecurity measures to ensure trust and reliability among users. Looking ahead, India’s journey towards becoming a digital-first economy holds immense promise for the FinTech sector,” adds Alok Kumar Agarwal Alankit. 

While concluding, Alok Kumar Agarwal Alankit mentions, “India’s FinTech sector stands at the cusp of a transformative era, driven by unprecedented growth, technological innovation, financial inclusion, regulatory support, and a relentless focus on cybersecurity.” With visionary entrepreneurs and support from the government at the helm, the sector is poised to scale new heights and redefine the contours of the Indian economy in the years to come.

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In the world of industrial applications, Evexia Lifecare limited stands out as a manufacturer of a range of petrochemical downstream products. These include specialized oils, chemicals, petroleum sulphates, and solvents crucial for industries such as rubber, leather, ink, and paint.

Going green with eBikes

A significant milestone was the company’s move into the green energy sector in FY21 with the establishment of an eBike plant in Vadodara. Not just stopping at manufacturing, the company is also gearing up for job work and producing their own line of eBikes.

Global Financial Moves

On 3rd February 2023, the company issued 1.50% Listed FCCBs worth USD 1000 Lakhs to the Global Focus Fund from the Republic of Mauritius. This financial move, regulated by the Financial Service Commission of Mauritius, carries a maturity period of 37 months, with an outstanding amount of 68,887.47 Lakhs.

Diversification and Strategic Acquisitions

In a bid to diversify the portfolio, the company has delved into trading businesses and commission-based activities, significantly reducing our expenditure. 

[For more information, visit https://www.evexialifecare.com/ ]

Moreover, the recent acquisition of REVIN LABS PRIVATE LIMITED, specializing in Analytical Testing Services for Pharmaceuticals, underscores the commitment to growth and innovation. 

The acquisition, costing 44.8 crores, will be settled with a cash consideration of Rs. 22.4 crores and the issuance of equity shares of Evexia Lifecare Limited to Revin Labs Private Limited’s individual shareholders, at a rate of 140 Rs per share.

Strategic Partnership for Future Growth

Our acquisition of an 80% stake in Revin Labs Private Limited is not just about expansion; it is a strategic move to join hands and boost our business forward.

Navigating Financial Ups and Downs

While recent financial reports may show some disappointments, our diversified business segments and promising growth opportunities signal robust wealth creation for the company and its investors. 

This is reflected in our stock’s impressive 50% growth over the past six months, and is currently trading at Rs. 2.53.

Disclaimer: This highlights the bullishness of stock shares and is not recommended to buy, sell or hold. We have not conducted fundamental or technical analysis and do not have any opinion on the stocks mentioned. Neither the author nor Granium Information Technologies should be held responsible for any damages. Please consult a professional advisor.

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New Delhi (India), April 29: Lagnam Spintex Limited, a leading manufacturer of high quality cotton yarn in India, has announced its results for the financial year and quarter ended on March 31, 2024. The company witnessed remarkable revenue growth, propelled by its strategic expansion initiatives and diversification into new product lines. Lagnam had commissioned their Rs 218 cr. Capex expansion project ahead of schedule on 31st January 2024, as against the schedule date of 1st April 2024. This early commissioning has helped the company in bringing competitive cost advantage and increase in top line as seen in the results.

The Total revenue for the quarter Q4FY24 grew by 66% to Rs 149.82 crores compare to Rs 90.41 crores in Q4FY23. The Profit after Tax in Q4FY24 grew by whooping 380% to Rs 7.30 crores compare to Rs. 1.52 crores in Q4FY23.

For the financial year 2023-24, the textile company clocked a PAT of Rs 14.57 crores with a total income of Rs 437.79 crores. Its EBITDA stood at Rs 45.37 crores with an EPS of Rs 8.25.

Financial Highlights for the Quarter ended March 31, 2024

 Financial Highlights for Fiscal year ended March 31, 2024:

Commenting on the company’s performance, Anand Mangal, Promoter and Managing Director of Lagnam Spintex said, ” We are thrilled with the remarkable progress of our expansion project. Our Compact yarn has been exceptionally well-received by both existing and new customers, thanks to its superior quality. This widespread acceptance has enabled us to expand our customer base across domestic and export markets.”

Lagnam Spintex’s unwavering commitment to innovation, quality, and customer satisfaction has positioned the company as a leader in the cotton yarn manufacturing industry. With its strategic initiatives and expansion plans, Lagnam Spintex is poised to solidify its position further and continue delivering exceptional products to its valued customers worldwide.

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Surat (Gujarat) [India], April 29: NJ Wealth, a leading mutual fund distributor in India, has been making significant contributions to the growth and awareness of mutual funds among retail investors. With their extensive network of over 37,000 sub-distributors and a robust AUM of over Rs 1,94,600 crore, NJ Wealth has been instrumental in reaching out to investors across the country. In a recent interview, Mr. Misbah Baxamusa, CEO of NJ Wealth, shared insights on the growth of systematic investment plans (SIPs) and the factors that have contributed to the overall growth of the mutual fund industry.

He also discussed the initiatives taken by NJ Wealth to educate and empower investors, ensuring that they make informed decisions while investing in mutual funds. Additionally, he highlighted success stories and case studies that demonstrate the positive impact of NJ Wealth’s services on investors’ financial needs and outcomes. With a focus on long-term wealth building and a commitment to financial literacy, NJ Wealth continues to play a pivotal role in shaping the mutual fund landscape in India.

1. Can you share some insights on the growth of systematic investment plans (SIPs) in India? How have SIPs contributed to the overall growth of the mutual fund industry?

Ans.) With the mutual fund AUM crossing the milestone of Rs 50 lakh crore, SIP contributions also jumped to Rs 19,271 crore in March 2024, for a total of Rs 1,99,219 crore for this financial year 2023-24. The SIP AUM has also reached Rs Rs 10,71,666 crore. In recent years, there has been a rising trend in SIP investments. From the last financial year, the SIP contributions have increased by 27.73%. (Source – AMFI)

The simplicity and accessibility of SIPs have made it an ideal way of investment. Investors now understand that through SIPs, even small investments can blossom into a good corpus, making it easier for them to fulfil their financial needs over long term. The SIP book has added to a consistent, predictable, sticky, and a stable flow of funds to the industry which is always welcome. This is also a sign of a maturing investor base and industry. 

2. As India’s largest mutual fund distributor, how has your organisation contributed to the growth and awareness of mutual funds among retail investors in the country?

Ans.) NJ Wealth, a B2B2C platform, is one of the largest MF distributors in India with 37,000+ sub-distributors called the NJ Wealth Partners spread across the nation. Our AUM now stands at Rs 1,94,600+ crore, and our monthly SIP book stands at Rs 1,709 crore. We have an investor presence in almost all states, major cities and towns in India and are located in over 185+ locations.

At NJ Wealth we empower our network of distributors to run and build a successful mutual fund distribution business, catering to the needs of a large investor base. Currently, we have over 31 lakh investors, but believe the potential or the opportunity is still enormous out there. While reaching out to these investors, our message is very clear and simple. We promote disciplined investments in the right asset classes for long-term wealth building. We work very hard on imbibing our investment philosophy and have a very consistant training and communications calendar with both investors and distributors. We have been speaking the long-term SIP language for nearly two decades now. 

3. The mutual fund distribution landscape in India has seen significant growth in recent years. What factors have contributed to this growth, and how has your organisation capitalised on these opportunities?

Ans.) The mutual fund sector has witnessed an upsurge over the last decade, with assets under management (AUM) growing from Rs 8.25 lakh crore in March 2014 to Rs 53.40 lakh crore in March 2024 (Source – AMFI). This unprecedented growth can be attributed to a multitude of factors, including the regulatory direction provided by SEBI and the growing confidence and knowledge of investors through investor awareness programmes. We can now say that mutual fund investments are no longer a modern or new investment avenue as opposed to ‘traditional’ options and are now slowly going mainstream. 

We believe that sustainable long-term channelisation of real savings is also an outcome of the continued efforts of the mutual fund distributors (MFDs). The MFD community have been pitching and pushing SIPs when there was no awareness, and there was general suspicion about anything related to equity markets. Right through these decades, we have remained focussed on our messaging and on doing on-ground activities. Online onboarding, transactions, and increased digitalisation have greatly addressed the last-mile access challenges and have given investors greater convenience and transparency which NJ Wealth has really capitalised on. We have always worked out the challenges, remained consistant in our process, trying to convert opportunities in our favour. 

4. What initiatives has your company taken to educate and empower investors about mutual funds? How do you ensure that investors make informed decisions while investing in mutual funds?

Ans.) Financial inclusion, awareness, and literacy are the cornerstone of NJ Wealth. We hold training sessions for NJ Wealth Partners very consistently, which empower them with appropriate knowledge and the right investment strategies. In addition to regular training, we conduct talks and sessions with industry leaders very often for both investors and distributors. There is also an internal research and publications desk that gives the necessary content and publications required by our distributors.  

By empowering our partners, we extend the reach of investor education. The Financial Literacy Awareness Programme (FLAP) is a free-of-cost dedicated course that allows investors and students to educate and empower themselves with financial literacy. Moreover, we post NJ Wealth blogs where we publish relevant content through which we can directly engage in improving awareness about mutual funds and financial literacy. By equipping investors with the knowledge and resources they need, we aim to promote financial well-being and help individuals achieve their long-term financial objectives.

5. Can you share some success stories or case studies that highlight the positive impact of your company’s services on investors’ financial needs and outcomes?

Ans.) At NJ, we believe that the key to building wealth is patience and composure. Staying invested for the long term can not only help fulfil financial needs but also build wealth. NJ has always strived to put the needs of customers first. The market is also huge with vast opportunities to build wealth. In such a scenario right-selling and sticking to fundamentals of investing can really help investors generate good returns. 

The handholding provided by our dedicated NJ Wealth Partners has helped investors maintain their calm during times of market volatility. As per internal studies, Investors who have entrusted NJ Wealth for more than 10 years have achieved median returns 13.76%*. Moreover, 72.89%* of investors have received returns of more than 12%, and 96.23%* of investors have received returns of more than 8%. These returns of NJ Wealth investors are a testament to the power of long-term, disciplined, and consistent investing. 

*Source – Internal

1. Investor returns are annualised and calculated using the XIRR method for the period from the 1st investment to the 31st March 2024.

2. The methodology for computation of the XIRR return of the mutual fund investments have been audited and certified by Value Research via a certificate dated May 31, 2023, in favour of NJ India Invest Private Limited.

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Mumbai (Maharashtra) [India], April 26:  BFIL, a prominent precision engineering company engaged in manufacturing of crankshafts and forged components, is excited to announce that its shares shall be trading on the National Stock Exchange (NSE) effective at the opening of markets on 29th April, 2024 under the symbol of “BALUFORGE”.

Commenting on the announcement, the management team of BFIL stated:

“We are pleased to inform that our Company’s shares will also be listed/traded on the main board of NSE from 29th of April, 2024, this earmarks one of the credible milestones for BFIL, further this will help grow and strengthen the visibility of BFIL amongst the entire capital market community.

BFIL is a prominent player in the specialized engineering and precision machined components industry servicing a marquee global clientele spread across various industries such as aerospace, automotive, oil and gas, railways and defense.

The listing of BFIL’s Equity shares on NSE will ensure consistency and transparency which will likely enhance investor’s confidence and visibility. Apart from monitoring the explicitness, NSE will entitle the investors with following perquisites;

1. Ensuring a lower impact cost
2. Visibility
3. Unprecedented Global Reach
4. Settlement Guarantee

For further information on the Company, please visit www.baluindustries.com

About Balu Forge Industries Ltd

Balu Forge Industries Ltd (BFIL) was Incorporated in 1989 & is engaged in the manufacturing of precision machined components. It has the capability to manufacture components conforming to both New Emission Regulations & the New Energy Vehicles. The company has a fully Integrated Forging & Machining production infrastructure with a large product portfolio ranging from 1 Kg to 900 Kgs. The company has a 80+ global distribution networks and operates through both domestic and export segments. The customers include some of the renowned suppliers and manufacturers of light vehicles, Agricultural equipment, power generation equipment, commercial vehicles, off-highway vehicles, ships, locomotives and many others. The company also caters to the defence, oil & gas, railway, marine amongst other industries.

Balu Forge Industries Ltd   Captive IR Strategic Advisors Pvt Ltd

Tabassum Begum    Krunal Shah/ Naman Maheshwari

compliance@baluindustries.com  krunal@cap-ir.com/naman@cap-ir.com

Disclaimer:

This investor release is not an offer to sell any securities or a solicitation to buy any securities of Balu Forge Industries Limited (the “company”) or its subsidiaries (together with the company, the “group”).

Certain statements in this document may be forward looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, ” estimates”,” anticipates”, ” projects”, ” expects”, ” intends”, ” may”, ” will”,” or ” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, aims, objectives, goals, future events or intention. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements.

Forward looking statements are not guaranteeing of future performance including those relating to general business plans and strategy of the Company, its future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment. No representation, warranty or undertaking, express or implied, is made or assurance given that such statements, views, projections or forecasts, if any, are correct or that the objectives of the Company will be achieved.

The Company assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this Investor Release, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results.

BFIL will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward- looking statements to reflect subsequent events or circumstances.

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Ahmedabad (Gujarat) [India], April 10:  The initial public offering of Ahmedabad-based Teerth Gopicon Ltd, company specializes in engineering construction and development received overwhelming response for its Rs. 44.40 crore SME IPO and got subscribed over 74.17 times. Non institutional investor category received the highest interest among investors and was subscribed over 97 times. Retail segment was subscribed 42 times.

Company received bids for over 28 crore equity share aggregating total subscription amount of over Rs. 2,925 crores against the 39.99 lakh shares offered in the public issue. The public issue closed for subscription on April 10. Company’s shares will get listed the Emerge Platform of the National Stock Exchange on April 16, 2024. Grey Market premium on company’s share was around Rs. 20 per share as per https://www.investorgain.com/. Interactive Financial Services Ltd is the lead manager of the issue.

The initial public offering comprises of a fresh issue of 39.99 lakh equity shares of face value Rs. 10 each. Company has fixed price of Rs. 111 per equity share for the public issue (including a premium of Rs. 101 per equity share). Out of the issue proceeds of Rs. 44.40 crore, company plans to utilize Rs. 33.40 crore towards working capital requirements and Rs. 10.24 crore towards general corporate purpose. Minimum lot size for the application is 1200 shares which translates in to investment of Rs. 1.33 lakh per application. Retail investor quota for the IPO is kept at 50% of the net offer.

Dr. Maheshbhai Kumbhani, Founder & Managing Director, Teerth Gopicon Ltd said, “We want to thank all the investors for their trust and confidence in the company and its management. We are confident that with the support of all the stakeholders, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders.”

**Market Maker portion is not included to NII/HNI.

Incorporated in the year 2019, Teerth Gopicon Limited is engaged in the business of road construction, sewerage and water supply in Madhya Pradesh. Company’s business is concentrated in the State of Madhya Pradesh and mainly in city of Indore, Chhatarpur, Sagar, Dindori, Jabalpur and Ujjain. and gradually expanding its presence in other states. ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified company, it is also registered as – All class civil and Electrical Contractor and have executed various Projects of Government Department. Company has worked as a registered Civil contractor for various Central/State Government departments such as ISCDL, IMC, USCL, UMC, MPJNM etc. and also undertaken building works for private sector. The Order Book of our Company as on January 31, 2024, is Rs. 904.98 crore.

The company has undertaken a wide range of civil engineering projects such as building construction, water supply, pipelines, sewage network, sewage treatment plant, nalla taps, reuse network, overhead tanks, GSR, road construction, lake rehabilitation, etc. As at February 29, 2024, the company had a total of 164 permanent employees (including workmen) in various departments.

Company has reported excellent operational and financial performance over years. The Company has witnessed a multi-fold growth in revenue and profitability over the years. For the 10 months of FY23-24 ended January 2024, company has reported net profit of Rs. 7.84 crore and revenue of Rs. 69.70 crore as compared to full year profitability and revenue of Rs. 1.80 crore and Rs. 39.15 crore in FY22-23. As on 31^st January 2024, Net Worth of the company was reported at Rs. 15.72 crore, Reserves & Surplus at Rs. 7.73 crore and Asset base of Rs. 137.20 crore. As on 31^st January 2024, ROE of the company was 66.40%, ROCE at 48.40% and RONW at 22.72%. Shares of the company will be listed on NSE’s Emerge platform.

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1,85,000 registered investors drive ~150% volume growth in FY24

Bengaluru (Karnataka) [India], April 8: altGraaf, an alternative fixed-income platform offering fixed-income products, today announced a milestone achievement of 3300+ crores of investments from more than 1,85,000 registered investors, crediting their success to their valuable customers, partners and clients.

The 3300+ crore investments represent a 153% volume growth and 146% growth in new user addition in FY24. 

Through its intense focus on innovative products, good risk-adjusted returns, strong due diligence process, easy-to-use digital platform, and customer focus, the FinTech platform has processed 2700+ Crores in Repayment so far and provides investors with opportunities that were previously limited only to high-net-worth individuals.

AI Growth is the parent company of altGraaf brand, founded in September 2021 with the vision of democratizing the fixed-income investment space in India. altGraaf offers investors curated fixed-income investments including unlisted high-yield bonds, Invoice Discounting, Asset Leasing, and Venture Debt/Revenue-based financing.

Commenting on the company’s incredible growth journey, Mr. Jayaprakash K, Chief Growth Officer of AI Growth Pvt. Ltd. (parent company of altGraaf), said: “In an external environment where high inflation and interest rates continue to dampen the effective yields on traditional fixed income instruments, altGraaf is helping Indian investors discover alternative investment opportunities.

Our strong tech-enabled platform, customer-first mentality, and stringent credit risk framework will continue to drive our growth as we focus on achieving new milestones in FY25. We remain grateful for their trust through our journey and continue to bring high-quality opportunities to the platform.”

All opportunities undergo due diligence and credit evaluation process before being brought on to the platform. The process does not end post-onboarding of a client and continues with asset monitoring until the maturity of an investment. This meticulous investment approach has helped the company maintain Gross Non-Performing Assets less than 0.50%, with more than 2,700 crores worth of investment repayments being completed on time.

The platform aims to help investors build a diverse fixed-income investment portfolio by participating in opportunities across tenures, risks, yields, products, and sectors. This enables the customers to avoid market volatility, have a stable yield portfolio, and have well-planned cashflows. The opportunities sourced span various sectors including manufacturing, fashion, chemicals, e-commerce, real estate, NBFC, food, agriculture, microfinance, solar, supply chain, and even fintech space. Opportunities on the platform range from 30 days to 3 years, annual yields 10% – 18%, and risk between very low to very high. 

Customers can easily invest, monitor, and track all their investments via their website or through a convenient mobile app that is available both in Android and apple stores. 

Backed by leading VC funds like Accel and Harmony Partners as well as marquee investors and reputed family offices, the experienced team at Bengaluru-based altGraaf is focused over the next year in terms of expanding their product offerings, building on their digital & technology capabilities and expanding accessibility of their curated offerings to more customers.

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Ahmedabad (Gujarat) [India], April 8:  Ahmedabad based Teerth Gopicon Ltd, company specializes in engineering construction and development mainly focusing on roads, sewerage and water distribution projects is planning to raise up to Rs. 44.40 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 April 8 and closes on April 10. The Proceeds of the public issue will be utilised to fund company’s expansion plans including meeting working capital requirements and general corporate purposes. Interactive Financial Services Ltd is the lead manager of the issue.

The initial public offering comprises of a fresh issue of 39.99 lakh equity shares of face value Rs. 10 each. Company has fixed price of Rs. 111 per equity share for the public issue (including a premium of Rs. 101 per equity share). Out of the issue proceeds of Rs. 44.40 crore, company plans to utilize Rs. 33.40 crore towards working capital requirements and Rs. 10.24 crore towards general corporate purpose. Minimum lot size for the application is 1200 shares which translates in to investment of Rs. 1.33 lakh per application. Retail investor quota for the IPO is kept at 50% of the net offer.

Highlights:-

• Public issue opens for subscription from April 8 to April 10.
• Minimum lot size for application is 1200 shares; Minimum IPO application amount Rs. 1.33 lakh
• Funds raised through the issue will be used to meet the working capital requirements and general corporate purposes
• For 10 months of FY23-24 company reported revenues of Rs. 69.70 crore and Net Profit of Rs. 7.84 crore
• The Order Book of our Company as on January 31, 2024, is Rs. 904.98 crore.
• Interactive Financial Services Ltd is the lead manager of the issue.

Incorporated in the year 2019, Teerth Gopicon Limited is engaged in the business of road construction, sewerage and water supply in Madhya Pradesh. Company’s business is concentrated in the State of Madhya Pradesh and mainly in city of Indore, Chhatarpur, Sagar, Dindori, Jabalpur and Ujjain. and gradually expanding its presence in other states. ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified company, it is also registered as – All class civil and Electrical Contractor and have executed various Projects of Government Department. Company has worked as a registered Civil contractor for various Central/State Government departments such as ISCDL, IMC, USCL, UMC, MPJNM etc. and also undertaken building works for private sector. The Order Book of our Company as on January 31, 2024, is Rs. 904.98 crore.

The company has undertaken a wide range of civil engineering projects such as building construction, water supply, pipelines, sewage network, sewage treatment plant, nalla taps, reuse network, overhead tanks, GSR, road construction, lake rehabilitation, etc. As at February 29, 2024, the company had a total of 164 permanent employees (including workmen) in various departments.

Dr. Maheshbhai Kumbhani, Founder & Managing Director, Teerth Gopicon Ltd said, “Company has reported excellent operational and financial performance over years. Company’s current business is concentrated in Madhya Pradesh and gradually we plan to expand in other states. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products.”

Company has reported excellent operational and financial performance over years. The Company has witnessed a multi-fold growth in revenue and profitability over the years. For the 10 months of FY23-24 ended January 2024, company has reported net profit of Rs. 7.84 crore and revenue of Rs. 69.70 crore as compared to full year profitability and revenue of Rs. 1.80 crore and Rs. 39.15 crore in FY22-23. As on 31^st January 2024, Net Worth of the company was reported at Rs. 15.72 crore, Reserves & Surplus at Rs. 7.73 crore and Asset base of Rs. 137.20 crore. As on 31^st January 2024, ROE of the company was 66.40%, ROCE at 48.40% and RONW at 22.72%. Shares of the company will be listed on NSE’s Emerge platform.                     

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