Equitas gets RBI nod to commence Small Finance Bank operations

The SFB, to be named “Equitas Small Finance Bank Limited” (Equitas Bank), will start banking operations after receiving few other approvals from various departments of RBI and other agencies.

Equitas Holdings Limited (Equitas) has received final license from Reserve Bank of India (RBI) to commence operations as Small Finance Bank (SFB).

The SFB, to be named “Equitas Small Finance Bank Limited” (Equitas Bank), will start banking operations after receiving few other approvals from various departments of RBI and other agencies.

Commenting on the development, P. N. Vasudevan, Managing Director, Equitas Holdings Limited said, “It is indeed a proud moment for everyone at Equitas to be a first Private Bank from Tamil Nadu and the city of Chennai. This further takes us closer to our mission of empowering India through financial inclusion.”

“With our ability to service the informal economy through our reach and efficient process and system, we plan to cater all sections of society. We hope to start operations in next few months with a network of around 400 branches which would be established through the year. Through various innovations, we aim to ease the banking experience of our customers,” he further added.

In June 2016, the Madras High Court had approved the amalgamation of Equitas Micro Finance Limited (EMFL) and Equitas Housing Finance Limited (EHFL) with Equitas Finance Limited (EFL). On amalgamation coming into effect, Equitas Finance Limited will be named as Equitas Small Finance Bank which will carry on the business of banking.

MasterCard invests in Razorpay

As part of an ongoing effort speed the timing of individual purchases, Razorpay has integrated the MasterCard Payment Gateway to enable merchants and card issuers to authenticate each other prior to the authorization of a transaction.

Razorpay announced it is working with MasterCard to speed the adoption of online and mobile payments among small businesses in India.

As part of an ongoing effort speed the timing of individual purchases, Razorpay has integrated the MasterCard Payment Gateway to enable merchants and card issuers to authenticate each other prior to the authorization of a transaction.

Since late 2015, Razorpay has worked with the MasterCard Start Path program – a global effort to support startups developing the next generation of commerce and fintech technologies – to get support in technology enhancements and tap into the company’s global risk and fraud expertse.

In addition to the Start Path activities, MasterCard has also invested in Razorpay.

“This marks a new chapter in the growth story of Razorpay. Being backed by a global powerhouse like MasterCard will give us added credibility to our cutting edge technology which is miles ahead of competition. Over the course of the past few months, we’ve been able to convert many of our competitors’ clients because of the ease in transacting with our platforms. We want to build on the idea of providing simplified payment solutions to the consumers. With support from MasterCard alongside other investors, we’re on our path to build the gold standard of payments in India,” said Harshil Mathur, CEO & Co-Founder, Razorpay.

“India is helping to shape the future of e-commerce through strategic collaborations and innovative technology,” said Stephane Wyper, global lead for MasterCard Start Path “The work that Razorpay is doing in India complements existing MasterCard solutions that are helping merchants of all sizes and in all markets accept online payments and grow their business.”

Razorpay has over 5000 merchants including the likes of Papa John’s, Knowlarity, Chai Point, Nestaway and Eatfresh, among others. Razorpay has raised a total capital of $11.5 million from marquee investors like Tiger Global, Matrix Partners and Y Combinator. The company also has leading angel investors including the founders of InMobi, Snapdeal, Freecharge and the likes of Punit Soni, Ram Shriram and Justin Kan who believe in the company’s vision. Razorpay is the second Indian company to be selected for the Y-Combinator accelerator programme.

YES Bank pledges GBP 1 mn to LSE to support IG Patel Chair

The scrip opened at Rs. 1109.8 and has touched a high and low of Rs. 1119.45 and Rs. 1106.75 respectively.

YES Bank has pledged GBP 1 mn to London School of Economics and Political Science (LSE) to support IG Patel Chair.

Yes Bank Ltd is currently trading at Rs. 1116.5, up by Rs. 10 or 0.9% from its previous closing of Rs. 1106.5 on the BSE.

The scrip opened at Rs. 1109.8 and has touched a high and low of Rs. 1119.45 and Rs. 1106.75 respectively. So far 479848(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 46594.02 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1115 on 23-Jun-2016 and a 52 week low of Rs. 590 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 1110.95 and Rs. 1042.05 respectively.

The promoters holding in the company stood at 21.91 % while Institutions and Non-Institutions held 65.51 % and 12.58 % respectively.

The stock is currently trading above its 50 DMA.

Adani Transmission plans to raise Rs. 1000 crore

The said NCDs will be listed on the Wholesale Debt Market segment of BSE Limited.

Adani Transmission Ltd has informed BSE that the Company has raised Rs. 1,000 Crores (Rupees One Thousand Crores only) on June 30, 2016 by allotment of 10,000 Rated, Listed, Taxable, Secured, Redeemable, Non-Convertible Debentures (NCDs) of the face value of Rs. 10,00,000/- each issued under two separately transferable principal parts of NCDs on private placement basis.

The said NCDs will be listed on the Wholesale Debt Market segment of BSE Limited.

Adani Transmission Ltd ended at Rs. 38.55, down by Rs. 0.35 or 0.9% from its previous closing of Rs. 38.9 on the BSE.

The scrip opened at Rs. 39.5 and touched a high and low of Rs. 40.4 and Rs. 38.4 respectively. A total of 3043879(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4239.77 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 42.6 on 01-Jan-2016 and a 52 week low of Rs. 25.25 on 21-Sep-2015. Last one week high and low of the scrip stood at Rs. 40.4 and Rs. 33 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 13.03 % and 11.97 % respectively.

The stock traded above its 200 DMA.

Mahanagar Gas to list today

The initial share sale of country’s second largest CNG retailer Mahanagar Gas was oversubscribed by 65.28 times. The issue period was from June 21-23. The company had set price band of Rs.380-Rs.421 for the issue.

Mahanagar Gas Ltd (MGL), a joint venture between GAIL (India) and BG Asia Pacific Holdings Pte Ltd (BGAPH),is going to list today.

The initial share sale of country’s second largest CNG retailer Mahanagar Gas was oversubscribed by 65.28 times. The issue period was from June 21-23. The company had set price band of Rs.380-Rs.421 for the issue.

MGL is the sole authorized distributor of compressed natural gas (CNG) and piped natural gas (PNG) in Mumbai and its Adjoining Areas and the Raigad district in the state of Maharashtra, India.

The offer consists of offer for sale of up to 12,347,250 (12.5%) equity shares by GAIL and up to 12,347,250 (12.5%) equity shares by BGAPH. The Government of Maharashtra holds 10% stake in the company. Post offer, the share holding of GAIL and BGAPH will come down to 32.5% each.

The company currently has nearly 8.5 lk customers for PNG that includes households and commercial customers too, while nearly 4.70 vehicles run on CNG sold by the company through a network of 188 CNG stations.

The offer includes a reservation of up to 200,000 Equity Shares for subscription by eligible employees on a competitive basis. This Offer is being made through the book building process where 50% of the offer, less the employee reservation portion shall be available for allocation on a proportionate basis to QIBs.

MGL and the Selling Shareholders may, in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors, on a discretionary basis, (“Anchor Investor Portion”) at the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations, out of which at least one third will be available for allocation to domestic Mutual Funds only subject to valid Bids received from domestic Mutual Funds at or above the Anchor Investor Allocation Price.

In event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion. Equity Shares representing 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only.

Kotak Mahindra Capital Company Limited and Citigroup Global Markets India Private Limited are the Book Running Lead Managers to the offer. The Registrar to the offer is Link Intime India Private Limited.

Top 18 stocks in focus today: ICICI Bank, Jet Airways, UltraTech Cement

Check out the companies which will be in focus during trade today based on recent and latest news developments.

ICICI Bank: ICICI Bank the lead banker for Jaiprakash Associates has invoked the strategic debt restructuring provision, setting in play the process that could pave the way for the lenders cumulatively taking over the company, as per media reports.

Jet Airways: Jet Airways is talking to lenders about raising up to $180 million through a loan.

OMCs in focus: IOC has cut the price of transport fuel, effective Friday, by under a rupee each—of petrol by 89 paise a litre and of diesel by 49 paise—both at Delhi with corresponding decrease in other states.

Auto stocks will be in focus: Four and two wheeler stocks will be in focus as auto sale numbers for the month of June will be announced starting from July 1.

Essar Oil: Ruia family is reportedly planning to sell another 25 per cent stake in in Essar Oil. The sale of 74 per cent stake will help bring down Group debt by half to about Rs.46,000 crore, says report.

UltraTech Cement: As per media reports, UltraTech Cement to buy the cement assets of debt-laden Jaiprakash Associates Ltd at Rs.15,900 crore deal has run into a snag over the latter’s failure to meet some commitments linked to the transaction.

Torrent Pharma: The pharma company has acquired a manufacturing unit of Glochem Industries in Vizag.

Bank of Maharashtra: The bank is planning to raise Rs.1,000 crore for growth opportunities and has sought approval from shareholders for it.

Dewan Housing Finance Corporation Ltd: The company has announced that a meeting of the Board of Directors of the Company will be held on July 05, 2016, to consider fund raising by way of public issue of secured Non-Convertible Debentures (NCDs).

Adani Transmission Ltd: The company has raised Rs.1,000 crore on June 30, 2016 by allotment of 10,000 Rated, Listed, Taxable, Secured, Redeemable,NCDs of the face value of Rs. 10,00,000/- each issued under two separately transferable principal parts of NCDs on private placement basis.

Strides Shasun: The company announced successful completion of US FDA inspection at its Oral Dosage Facility in Bangalore.

Central Bank: The bank has approved its fund-raising plans at the AGM. The bank plans to raise up to Rs 3,000 crore by various means, including follow-on public offer and rights issue.

Godrej Properties: The company said its USD 275 million realty fund has made first investment by acquiring 80% stake in a housing project in Mumbai.

Nila Infrastructures Ltd: The company has announced that the convertible warrant holder of preferential issue made during the year 2014-15; have on June 30, 2016 exercised their rights in full and applied for conversion of warrants into equity shares. Consequently the Board of Directors of the Company have by way of circular resolution, made allotment of 2,25,00,000 (Two Crore Twenty Five Lac Only] equity shares of Re. 1/- each at an issue price of Rs. 5/- per share (including premium of Rs. 4/- per share) to these warrant holders.

Bosch: The board of directors of Bosch will meet on Friday to consider a proposal for buyback of the company's shares.

Sintex Industries and NIIT Technologies: The stocks will be in focus as both stocks will be added in NSE futures & options segment.

Gayatri Projects: Gayatri Projects has bagged a Rs.3.06 bn order from the Centre for four-laning of a highway on the Andhra Pradesh-Tamil Nadu border.

Alembic Pharma: Alembic Pharmaceuticals’ two API facilities at Panelav have been successfully inspected by the USFDA.