HONG KONG: J.P.Morgan Asia Pacific has announced the appointment of
Kalpana Morparia as Chief Executive Officer of the firm's Indian operations.
Ms Morparia joins J.P.Morgan from the senior management of the ICICI Group,
India's largest private sector financial services company.
Ms Morparia is vice chairman of the ICICI Group's insurance,
asset management and securities companies, and Chief Strategy and
Communications Officer. She joined the board of ICICI Bank in 2001 and held
the position of Joint Managing Director until last year, before assuming her
current role with the group.
During her 33 year career with ICICI, Ms Morparia played an
influential role in the firm's expansion. Her term at ICICI Group placed her
at the forefront of the transformational changes which have reshaped the
country's banking industry.
Mr Gaby Abdelnour, the Chairman and Chief Executive of
J.P.Morgan, Asia Pacific said he warmly welcomed the experience and knowledge
which Ms Morparia will bring to the role of CEO.
"Ms Morparia offers J.P.Morgan a tremendous opportunity to
accelerate the progress we've made in building our Indian franchise. Her
appointment is also further evidence of the importance which J.P. Morgan
places on India as a priority within the firm's global growth strategy, " he
said.
Ms Morparia said she was delighted to join J.P.Morgan, and to
have the opportunity to lead the firm's expansion in India.
"J.P. Morgan has established a strong and highly respected
franchise in India which will support plans to expand all three lines of
business-- Investment Banking, Asset Wealth
Management and Treasury and Securities Services." she said.
Ms Morparia's role will include membership of J.P.Morgan's
Asia Pacific Executive Committee and involvement in the development of
several global initiatives being led out of the firm's New York office.
Saturday, August 30, 2008
Thursday, August 21, 2008
Tuesday, August 19, 2008
To grow wealth, you need to protect it: IDBI Fortis
BIG TALK : G.V. NAGESWARA RAO, IDBI FORTIS LIFE INSURANCE
'To grow wealth, you need to protect it'
Sanjay Kr Singh
IDBI Fortis, a life insurance joint venture between the IDBI group, Federal Bank and European banking and insurance company, Fortis, has launched a plan called Wealthsurance. In this product, both life and health insurance benefits have been packaged with a variety of investment options. Moreover, it’s a low-cost product. G.V. Nageswara Rao, managing director and chief executive officer at IDBI Fortis Life Insurance, spoke to Our Correspondent about this product and how IDBI Fortis Life aims to carve a niche for itself despite 20 other players already being in the fray.
For detailed story:
http://www.expressmoney.in/news/To-grow-wealth-you-need-to-protect-it/93455.html
'To grow wealth, you need to protect it'
Sanjay Kr Singh
IDBI Fortis, a life insurance joint venture between the IDBI group, Federal Bank and European banking and insurance company, Fortis, has launched a plan called Wealthsurance. In this product, both life and health insurance benefits have been packaged with a variety of investment options. Moreover, it’s a low-cost product. G.V. Nageswara Rao, managing director and chief executive officer at IDBI Fortis Life Insurance, spoke to Our Correspondent about this product and how IDBI Fortis Life aims to carve a niche for itself despite 20 other players already being in the fray.
For detailed story:
http://www.expressmoney.in/news/To-grow-wealth-you-need-to-protect-it/93455.html
NHPC gets into IPO mode
NEW DELHI: NHPC Limited, a hydroelectric power generating company, has filed its Draft Red Herring Prospectus with SEBI for entering the capital market with an IPO through the book-building route. The board of state-owned hydropower generator approved the proposed Initial Public Offering (IPO) of the company on Tuesday, to raise funds for its future expansions and part finance the construction and development costs of certain of identified projects. The Public Issue of 1,67,73,74,015 equity shares comprises a fresh issue of 1,11,82,49,343 equity shares by NHPC Ltd and an offer for sale of 55,91,24,672 equity shares by the President of India acting through the Ministry of Power, Government of India.
The company, formerly known as National Hydroelectric Power Corporation Limited, has appointed SBI Capital Markets Limited, Kotak Mahindra Capital Company Limited and Enam Securities Private Limited as the lead managers for the public issue.
“We have submitted the draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) today,” said Mr.S K Garg, Chairman and Managing Director, NHPC.
NHPC Limited, a Mini Ratna (Category I) Central Government Public Sector Unit is dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India. NHPC has developed and constructed 13 hydroelectric power stations and the total installed capacity is currently 5,175MW.
Disclaimer
The Company is proposing, subject to market conditions and other considerations, a public issue of the equity shares and has filed its Draft Red Herring Prospectus with Sebi. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers at www.enam.com, www.kotak.com and www.sbicaps.com.
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, not shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.
This press release has been prepared for publication in India and may not be released in the United States. This press release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption therefrom. The issuer or selling security holder has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. The Company will not be registered under the US Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of that Act. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted. Securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States in the absence of registration under the US Securities Act of 1933 or an exemption from registration.
Any potential investor should note that investment in equity shares involves a high degree of risk. For details, see the section titled “Risk Factors” of the Draft Red Herring Prospectus, which has been filed with the Sebi and is also available on the websites of the BRLMs are set forth above.
The company, formerly known as National Hydroelectric Power Corporation Limited, has appointed SBI Capital Markets Limited, Kotak Mahindra Capital Company Limited and Enam Securities Private Limited as the lead managers for the public issue.
“We have submitted the draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) today,” said Mr.S K Garg, Chairman and Managing Director, NHPC.
NHPC Limited, a Mini Ratna (Category I) Central Government Public Sector Unit is dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India. NHPC has developed and constructed 13 hydroelectric power stations and the total installed capacity is currently 5,175MW.
Disclaimer
The Company is proposing, subject to market conditions and other considerations, a public issue of the equity shares and has filed its Draft Red Herring Prospectus with Sebi. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in and the website of the Book Running Lead Managers at www.enam.com, www.kotak.com and www.sbicaps.com.
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, not shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.
This press release has been prepared for publication in India and may not be released in the United States. This press release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption therefrom. The issuer or selling security holder has not and does not intend to register any securities under the US Securities Act of 1933, as amended, and does not intend to offer any securities to the public in the United States. The Company will not be registered under the US Investment Company Act of 1940, as amended, and investors will not be entitled to the benefits of that Act. No money, securities or other consideration from any person inside the United States is being solicited and, if sent in response to the information contained in these written materials, will not be accepted. Securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States in the absence of registration under the US Securities Act of 1933 or an exemption from registration.
Any potential investor should note that investment in equity shares involves a high degree of risk. For details, see the section titled “Risk Factors” of the Draft Red Herring Prospectus, which has been filed with the Sebi and is also available on the websites of the BRLMs are set forth above.
Friday, August 15, 2008
Enter Reliance: NMCE moves to Mumbai
AHMEDABAD: National Mutui-Commodity Exchange (NMCE) of India Ltd., the country's first online demutualised, multi-commodity exchange, has announced its plans to move its Corporate Office from Ahmedabad to Mumbai.
This announcement comes at the back of Reliance Money, India’s largest financial conglomerate and distribution house, agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
“With a renewed focus on growth, NMCE is aggressively looking at expanding its membership network and commodity base offered. We plan to not only launch newer commodities, but also plan to reach out to the huge investor base in the commodity arena through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, CEO, Reliance Money and recently inducted Director on the NMCE Board.
Besides plans to move its corporate office to Mumbai, NMCE is also looking at recruitments at various levels to further strengthen its management.
"The decision to move our Corporate Office from Ahmedabad to Mumbai is a part of our overall strategy to revamp the entire working of the exchange. Though being the country's first online demutualised, multi-commodity exchange, we have missed out by not being present in the financial capital of the country,” said Mr. Kailash Gupta, Managing Director, NMCE.
NMCE is the country's first online de-mutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Kailash Gupta B. N. Kumar
National Multi-Commodity Exchange Concept Communication
+91-79-40086039 +91-9321048332
mailbnk@gmail.com
This announcement comes at the back of Reliance Money, India’s largest financial conglomerate and distribution house, agreeing to acquire up to 26 per cent stake in NMCE, subject to approval and clearances from regulatory authorities.
“With a renewed focus on growth, NMCE is aggressively looking at expanding its membership network and commodity base offered. We plan to not only launch newer commodities, but also plan to reach out to the huge investor base in the commodity arena through various new schemes and tie-ups,” said Mr. Sudip Bandopadhyay, CEO, Reliance Money and recently inducted Director on the NMCE Board.
Besides plans to move its corporate office to Mumbai, NMCE is also looking at recruitments at various levels to further strengthen its management.
"The decision to move our Corporate Office from Ahmedabad to Mumbai is a part of our overall strategy to revamp the entire working of the exchange. Though being the country's first online demutualised, multi-commodity exchange, we have missed out by not being present in the financial capital of the country,” said Mr. Kailash Gupta, Managing Director, NMCE.
NMCE is the country's first online de-mutualised, multi-commodity exchange with nationwide reach. It not only revived futures trade electronically in the commodities in India after a gap of 41 years but also integrated the centuries old commodity market with the latest technology.
About National Multi-Commodity Exchange of India
www.nmce.com
The National Multi-Commodity Exchange (NMCE) was launched on November 26, 2002 as the country's first online demutualised, multi-commodity exchange with nationwide reach. It is promoted by the country's largest warehousing corporation CWC along with NAFED - the country's apex body of marketing cooperatives, Punjab National Bank, the second largest public sector bank and the Government of Gujarat. NMCE not only revived futures trade electronically in commodities in India after a gap of 41 years, but also integrated the centuries old commodity market with the latest technology.
NMCE offers an electronic platform for futures trading in plantation, spices, food grains, non-ferrous metals, oilseeds and their derivatives and is backed by compulsory delivery based settlement to ensure transparent and fair trade practices. It is the first to introduce efficient clearing and settlement system backed by adequately capitalised corporate brokerage houses in commodities with sound and reliable transferable warehouse receipt system, using appropriate communication channels.
For further details –
Kailash Gupta B. N. Kumar
National Multi-Commodity Exchange Concept Communication
+91-79-40086039 +91-9321048332
mailbnk@gmail.com
Puravankara takes big leap into mass housing
MUMBAI: Taking a big leap into affordable premium housing and targeting the middle classes including the first time home buyer, real estate major Puravankara Projects Limited today announced the launch of its 100% owned subsidiary, Provident Housing and infrastructure Limited.
Under Phase I alone, the affordable housing project will cover Bangalore, Chennai, Hyderabad, Coimbatore, and Mysore where 64,500 homes with a total built up area of 59.80 million sq ft will be constructed over the next five years at a cost of about Rs 8,000 crores. The funding for these Phase I projects will be through construction debt and customer advances amounting to Rs 6,500 crores, with internal accruals and equity sourcing the remaining Rs 1,500 crores which will be utilized for land acquisitions.
In Phase II, Provident’s foot print will also cover cities like Delhi, Kolkata, Kochi, Jaipur, Pune and Nagpur.
The prices of Provident homes which are to be developed in a phased manner, are presently priced at Rs 10 lakhs, Rs 15 lakhs and Rs 20 lakhs and comprise of one, two and three bedroom homes.
The first three projects of Provident in Bangalore and Mysore of over 19,000 homes covering an area of 17.10 million sq ft are in the advanced stages of plan sanction with the first project in North Bangalore of 4.50 million sq ft comprising some 5,100 homes ready for launch in the next few months.
Mr Jayakar Jerome, a former IAS officer, who is credited with resurrecting the Bangalore Development Authority and taking up a slew of infrastructure projects in Bangalore City, will be the Managing Director of Provident Housing and Infrastructure Limited, while the Puravankara Group head, Mr Ravi Puravankara, will be the Chairman of the Company.
“Provident will target middle-class families and first time home buyers with the objective of meeting the ever increasing demand in this space.” said Mr Jayakar Jerome. “We will provide affordable premium homes which will cater to a largely under serviced market in the Country,” he said.
Provident has been established as an independent stand-alone entity with its own budget, offices and staff. Modern technology based methods are being used to achieve scalability at an affordable price. Provident Housing and Infrastructure Limited will function under the supervision of the Puravankara Group which is known for its premium, world class quality construction standards.
Apart from homes Provident will also develop and sell large plotted development townships for affordable housing supported by facilities like hospitals, schools and playgrounds.
With rising income levels and aspirations and the emergence of a new salaried class in the Country, the demand for homes has far out-paced supply. According an estimate, India’s housing shortage has increased from 19.4 million units in 2004 to 22.4 million in 2005-06 and this figure has since only kept rising.
The Puravankara Group with over 33 years of excellence in the upper end of the housing sector across various regions of the Country has projects in Bangalore, Chennai, Kochi, Coimbatore, Hyderabad, Mysore and Colombo. The Group also has an important presence in Dubai in the UAE and business representatives in the United Kingdom and the United States. With a land bank of over 125 million sq ft, the Group has above 20 million sq ft of residential and commercial space currently under construction. Included in this are on-going residential projects amounting to 18.30 million sq ft comprising 11,010 homes.
Under Phase I alone, the affordable housing project will cover Bangalore, Chennai, Hyderabad, Coimbatore, and Mysore where 64,500 homes with a total built up area of 59.80 million sq ft will be constructed over the next five years at a cost of about Rs 8,000 crores. The funding for these Phase I projects will be through construction debt and customer advances amounting to Rs 6,500 crores, with internal accruals and equity sourcing the remaining Rs 1,500 crores which will be utilized for land acquisitions.
In Phase II, Provident’s foot print will also cover cities like Delhi, Kolkata, Kochi, Jaipur, Pune and Nagpur.
The prices of Provident homes which are to be developed in a phased manner, are presently priced at Rs 10 lakhs, Rs 15 lakhs and Rs 20 lakhs and comprise of one, two and three bedroom homes.
The first three projects of Provident in Bangalore and Mysore of over 19,000 homes covering an area of 17.10 million sq ft are in the advanced stages of plan sanction with the first project in North Bangalore of 4.50 million sq ft comprising some 5,100 homes ready for launch in the next few months.
Mr Jayakar Jerome, a former IAS officer, who is credited with resurrecting the Bangalore Development Authority and taking up a slew of infrastructure projects in Bangalore City, will be the Managing Director of Provident Housing and Infrastructure Limited, while the Puravankara Group head, Mr Ravi Puravankara, will be the Chairman of the Company.
“Provident will target middle-class families and first time home buyers with the objective of meeting the ever increasing demand in this space.” said Mr Jayakar Jerome. “We will provide affordable premium homes which will cater to a largely under serviced market in the Country,” he said.
Provident has been established as an independent stand-alone entity with its own budget, offices and staff. Modern technology based methods are being used to achieve scalability at an affordable price. Provident Housing and Infrastructure Limited will function under the supervision of the Puravankara Group which is known for its premium, world class quality construction standards.
Apart from homes Provident will also develop and sell large plotted development townships for affordable housing supported by facilities like hospitals, schools and playgrounds.
With rising income levels and aspirations and the emergence of a new salaried class in the Country, the demand for homes has far out-paced supply. According an estimate, India’s housing shortage has increased from 19.4 million units in 2004 to 22.4 million in 2005-06 and this figure has since only kept rising.
The Puravankara Group with over 33 years of excellence in the upper end of the housing sector across various regions of the Country has projects in Bangalore, Chennai, Kochi, Coimbatore, Hyderabad, Mysore and Colombo. The Group also has an important presence in Dubai in the UAE and business representatives in the United Kingdom and the United States. With a land bank of over 125 million sq ft, the Group has above 20 million sq ft of residential and commercial space currently under construction. Included in this are on-going residential projects amounting to 18.30 million sq ft comprising 11,010 homes.
Battle for Zandu: Investor Group backs Emami entry
A group of investors from Zandu Pharmaceutical have questioned the propriety of Zandu management in declining management partnership to Emami Limited which has bought over about 24% in the former.
The investors, under the umbrella of All Gujarat Investor Protection Trust have wholeheartedly supported the Emami claim to the management partnership in Zandu.
In a communiqué to shareholders, Mr. Hemantsingh Jhala, Chairman of All Gujarat Investor Protection Trust, said the entry of Emami into the management would definitely bring the much needed fillip to Zandu and create value for the Zandu shareholders. Just the interest evinced by Emami, has more than doubled the prices of the Zandu stock thereby benefitting all the stakeholder as well as protecting the interests of the minority shareholders.
The communique explaining the stagnancy of the Zandu brand read.
The brand Zandu is more than 100 years old, but because of various reasons has not been able to sustain the growth that is required. The growth has not been outstanding by any standards, despite tremendous opportunities. In fact, Zandu’s is a typical case of missed opportunities.The financials of both the companies speak for themselves:
· Its stand alone sales of Zandu at Rs 136.98 crs for the year ended march 2008 have grown from Rs 108.67 crs in the last nine years at a CAGR of 2.61 %.
· Its EBIDTA has grown from Rs 15.10 crs to Rs 27.33 crs at a CAGR of 6.81%, while its net profit has grown from Rs 6.04 to Rs 16.41 crs at a CAGR of 11.75 %.
· The company has not launched any new product of significant value in the last 5 years.
Emami has been growing consistently at a CAGR of 20.62% over the last nine year from Rs 108 crs to Rs 583.71 crs, EBIDTA has grown at a CAGR of 25.68% from 12.61 crs to Rs 98.68 crs, which PAT has grown at a CAGR of 28.19% from Rs 9.92 crs to Rs 92.75 crs.
Zandu clearly needs a strong tonic to grow and Emami can represent that tonic.
The investors, under the umbrella of All Gujarat Investor Protection Trust have wholeheartedly supported the Emami claim to the management partnership in Zandu.
In a communiqué to shareholders, Mr. Hemantsingh Jhala, Chairman of All Gujarat Investor Protection Trust, said the entry of Emami into the management would definitely bring the much needed fillip to Zandu and create value for the Zandu shareholders. Just the interest evinced by Emami, has more than doubled the prices of the Zandu stock thereby benefitting all the stakeholder as well as protecting the interests of the minority shareholders.
The communique explaining the stagnancy of the Zandu brand read.
The brand Zandu is more than 100 years old, but because of various reasons has not been able to sustain the growth that is required. The growth has not been outstanding by any standards, despite tremendous opportunities. In fact, Zandu’s is a typical case of missed opportunities.The financials of both the companies speak for themselves:
· Its stand alone sales of Zandu at Rs 136.98 crs for the year ended march 2008 have grown from Rs 108.67 crs in the last nine years at a CAGR of 2.61 %.
· Its EBIDTA has grown from Rs 15.10 crs to Rs 27.33 crs at a CAGR of 6.81%, while its net profit has grown from Rs 6.04 to Rs 16.41 crs at a CAGR of 11.75 %.
· The company has not launched any new product of significant value in the last 5 years.
Emami has been growing consistently at a CAGR of 20.62% over the last nine year from Rs 108 crs to Rs 583.71 crs, EBIDTA has grown at a CAGR of 25.68% from 12.61 crs to Rs 98.68 crs, which PAT has grown at a CAGR of 28.19% from Rs 9.92 crs to Rs 92.75 crs.
Zandu clearly needs a strong tonic to grow and Emami can represent that tonic.
Subscribe to:
Posts (Atom)
