Agri-Drone Company AITMC Ventures Limited (AVPL) Files IPO Papers To Raise Funds

MUMBAI, OCTOBER 31st, 2023 (GSN):  AITMC Ventures Limited (AVPL), a pioneer in developing a self-sustained ecosystem covering the entire farming value chain around drone technology, today announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The Company will offer a fresh issue of up to 2,07,32,000 equity shares with a face value of Rs. 2/- each through the book-building route. SKI Capital Services Limited has been appointed as the Book Running Lead Manager to the Issue, and Bigshare Services Private Limited as the Registrar to the Issue. 

The Gurugram-based company operates three broad business verticals – Skill Development, Drones Skilling and Assembly and Agri-retail. Founded by entrepreneurs Deep Sihag Sisai (Managing Director) and Preet Sandhuu (Chairman) in 2016, AVPL is a “Category A” Training Partner recognised by the National Skill Development Corporation (NSDC) and serves a wide range of government departments & agencies, including other training providers. The company has two subsidiaries – SPH Aviation Private Limited and Farmers City International Private Limited, which enables an ecosystem play. SPH offers DGCA-approved Drone Pilot training programmes at their RPTOs. At the same time, Farmers City International fosters community engagement by establishing Farmer’s City Marts (FCMs), serving as comprehensive one-stop shops for farming needs.

“Since 2016, we have focused on building an integrated, robust ecosystem”, said, Deep Sihag Sisai, Founder & Managing Director, AVPL. “The journey towards being a listed company is yet another testament to our commitment to enriching the Indian Agricultural Ecosystem through technology, skill development and democratising access to solutions. We are confident that the increasing adoption of drone technology in agriculture presents a substantial growth opportunity for our Drone-as-a-Service (DaaS) offerings. Furthermore, we are well-positioned to benefit from government incentives and support as we have aligned our strategies with the government’s priorities such as employment and income augmentation in the agriculture sector”, further added Deep. 

The company will employ the proceeds from the issue for funding new business initiatives by investing in its subsidiaries. Besides, the company will also utilise part of the proceeds towards the working capital. 

Commenting on the upcoming issue, Ghanisht Nagpal, Partner Investment Banking, SKI Capital Services Limited, said, “AVPL is aiming to capitalise on an ecosystem play – at the intersection of technology, agriculture, and skill development. Deep and his team have a demonstrated business model awaiting the scale-up to the next level with the upcoming IPO. At SKI Capital, we aim to deliver opportunities for value creation – partnering with companies that offer potential for scalable, sustainable, and stable growth”.

AVPL is focused on ‘Creating a pool of Dronepreneurs and Agripreneurs’ through structured training programmes supported by the Government. By leveraging government subsidies and financial partnerships, AVPL aims to empower individuals with Agri-Drones, enabling them to explore entrepreneurial opportunities in the agricultural sector. Drones manufactured by the company will be available for sale to Dronepreneurs and qualified Drone Pilots in compliance with Government of India regulations. The company has established a Drone Production unit in Jhajjar. It is in the process of establishing a Manufacturing Unit in the “Aviation Hub” in Hisar, Haryana, for R&D and application testing. Besides, AVPL has 11 centres of excellence for Agriculture and drone training across Haryana, Gujarat, Uttar Pradesh, Madhya Pradesh, and Rajasthan. AVPL subsidiary SPH Aviation has one approved RPTO at Gurugram, whereas two more in Sirsa and Sonipat have been submitted to DGCA. Another 8 RPTO applications on their existing Training facilities are in line to submit with DGCA in the next 15-30 days.

AVPL has already collaborated with multiple states, NSDC and NACOF to create Drone Entrepreneurs and Agri Entrepreneurs across India 

AVPL’s total revenue for FY23 stood at Rs. 21.44 crore, compared to Rs. 11.29 crore in FY22. Its EBIDTA for FY23 was Rs. 8.29 crore, compared to Rs. 2 crore in FY22. The company has posted a PAT of Rs. 4.81 crore in FY23 as against Rs. 25.73 lakh in FY22. During Q1FY24, AVPL’s consolidated revenues stood at Rs. 9.62 crore, and EBITDA was Rs. 3.66 crore. PAT for Q1FY24 stood at Rs. 2.34 crore. Its revenue growth was primarily driven by, in the past two years, an increase in the number of students trained by the company. The pre-issue shareholding of the Promotor Group stands at 74.16% as of the date of filing the DRHP. AVPL has 113 employees.

For more information, please visit: https://avplinternational.com/ 

Kotak Alternate Asset Managers’ Iconic Fund raises Rs 1000 crore

MUMBAI, 31 OCTOBER, 2023 (GSN): Kotak Alternate Asset Managers Limited (KAAML) today announced that its Kotak Iconic Fund has successfully raised Rs 1,000 crore. The open-ended fund has been conceptualised as an equity multi-advisor portfolio solution. The fund has maintained a flexible approach by adopting diversified active and passive strategies across market capitalisation and tactical allocations.

In today’s dynamic investing landscape, investors are finding it increasingly difficult to keep up with rising volatility and ever changing market environment, which makes it challenging for investors to build and maintain equity portfolios across market cycles. Kotak Iconic Fund solves for this with its disciplined framework-based investing & risk management to deliver a smooth investing journey.

Lakshmi Iyer, CEO – Investments and Strategy, Kotak Alternate Asset Managers Limited said, "The journey to Rs 1,000 crore in AUM has been marked by unwavering dedication, resilience, and the trust of investors who have chosen Kotak Iconic as their preferred investment vehicle in the Indian equities space. Kotak Iconic Fund helps bring efficiency and operational ease to investor’s equity journey. The fund's team of seasoned professionals consistently identifies investment strategies that align with the fund's investment objective.”

Nishant Kumar, Head of Discretionary Portfolio Solutions, Kotak Alternate Asset Managers Limited said, “Kotak Iconic offers investors a one-stop solution for their equity allocation that dynamically handles strategy selection, allocation and performance monitoring. Kotak Iconic Fund is built on a foundation of rigorous research, disciplined framework-based investing, risk management and a deep understanding of the Indian economic landscape.”

Kotak Iconic Fund is setup as a category III Alternative Investment Fund (AIF) under SEBI regulations, managed by Kotak Alternate Asset Managers Limited, the alternate asset management arm of the Kotak Mahindra Group. 

Kotak Iconic Fund is also enabled to accept inflows from five offshore jurisdictions, including the US, UK, Singapore, DIFC and Hong Kong providing a convenient investing platform for non-residents to access Indian equity markets. KAAML under the brands, Kotak Optimus and Kotak Iconic offers multi-asset and equity discretionary portfolio solutions to both resident and non-resident investors having varying investment objectives.

About Kotak Alternate Asset Managers Limited 

Kotak Alternate Asset Managers Limited, erstwhile Kotak Investment Advisors Limited, is a part of Kotak Mahindra Group (Kotak), focuses on alternate assets management and investment advisory businesses. The company was set up in early 2005 and has raised/managed/advised over US$ 18 billion across different asset classes including Private Equity, Real Estate, Infrastructure, Special Situations, Data Centre and Private Credit. KAAML also has a significant Investment Advisory business, and all asset management and Investment Advisory businesses are managed by independent teams. 

Vibhor Steel Tubes files draft papers with Sebi to raise Rs 66.47 crore via IPO

MUMBAI, 5th OCTOBER, 2023 (GSN): Vibhor Steel Tubes, the two-decade-old manufacturer of steel pipes and tube products, has filed preliminary papers with the capital markets regulator Sebi to raise Rs 66.47 crore via an initial public offering (IPO). 

The offer consists of only a fresh issue by the company and there is no offer-for-sale component. The company will utilise net fresh issue proceeds mainly for working capital. The company’s offering comprises a fresh issue of equity shares (face value Rs. 10 each), aggregating to an issue size of up to Rs. 66.47 crore, through book-building route. There will be no Offer for Sale component. 

The company will utilise net fresh issue proceeds mainly for working capital requirements of Rs 55 crore, and the remaining for general corporate purposes. The company has appointed Khambatta Securities Limited as Lead Manager to the Issue and KFIN Technologies Limited as the Registrar to the Issue. 

The company will utilise its net proceeds from the issue to fund its working capital requirements. The company’s equity shares are proposed to be listed on the NSE and BSE. The company will utilise net fresh issue proceeds mainly for working capital requirements of Rs 55 crore, and the remaining for general corporate purposes. 

The company has appointed Khambatta Securities Limited as Lead Manager to the Issue and KFIN Technologies Limited as the Registrar to the Issue. The company will utilise its net proceeds from the issue to fund its working capital requirements. The company’s equity shares are proposed to be listed on the NSE and BSE. VSTL manufactures steel products such as Electric Resistance Welded Pipes, Hot-dipped Galvanized Pipes, Hollow section pipes, Primer painted pipes, SS Pipes and Crash Barriers at its plants located in Maharashtra, Telangana and Haryana with a total capacity of 2,23,160 MTPA. 

The company supplies its products to western and southern market companies in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka and Tamil Nadu. 

Commenting on this, Vijay Kaushik, Chairman and Executive Director, Vibhor Steel Tubes Limited, said, “Our consistent efforts in manufacturing and supplying the best quality steel products over the years have paid off in the form of satisfied clientele across India. As we are all set to explore new opportunities and geographies for our products and strengthen our supply chains, we are raising funds through IPO. In an industry laden with unstable policy regimes, we have successfully built the product line and have been part of the domestic manufacturing narrative for a while now.” The company has mapped out business plans to expand its operations by setting up a manufacturing unit with a capacity of 1,20,000 MTPA in Orissa and expanding the current unit’s capacity in Telangana from 96,000 MTPA to 1,52,000 MTPA. VSTL has also entered into an agreement with Jindal Pipes Limited in April 2023. As part of the agreement, the company manufactures and supplies finished goods worth 1,00,000 MTPA to “Jindal Pipes Limited, which sells the products under the brand name “Jindal Star”. 

The company’s total revenue for FY23 stood at Rs. 1,112.11 crore compared to Rs. 817.99 crore in FY22. Its EBIDTA for FY23 was Rs. 46.84 crore, compared to Rs. 30.18 crore in FY22. The company’s PAT was 21.06 crore in FY23, compared to Rs. 11.33 crore in FY22. In the last five years, finished steel production has grown at a CAGR of 4.8% to 122 MT in FY23 from 101 MT in FY19. 

The production growth has been backed by a rise in domestic steel consumption on account of growing economic activities in the country, supported by an increase in infrastructure and construction spending by the government and a rise in automobile and consumer durable demand, among others. During YTD FY24, finished steel production grew by 13.4% on a y-o-y basis, backed by strong demand in the domestic market.Ends

India’s 1st semiconductor chip maker gears up for listing! Polymatech Electronics Limited files DRHP for Rs 750 crore IPO

MUMBAI, 5 OCTOBER, 2023 (GSN): Semiconductor chip maker Polymatech Electronics on Thursday said it has filed preliminary papers with capital markets regulator Sebi to raise Rs 750 crore through an initial public offering (IPO).

The maiden public issue is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to a company statement. The Chennai-based company will utilize proceeds to the tune of Rs 566 crore to purchase new machinery to boost its existing facility in Tamil Nadu.Besides, a portion of the funds will be used for general corporate purposes. 

Polymatech Electronics was formed in 2007 as a foreign company, owned and promoted by foreign shareholders. Later, the company was acquired by Eswara Rao Nandam and Uma Nandam, current promoters, through share purchase agreements executed and amended in 2016 and 2017, respectively. 

In 2019, the firm commenced its journey of designing and producing opto-semiconductor chips in 2019, using the latest European and Japanese technologies. Its solutions are used in diverse industries for large-area lighting at commercial places. Also, it has developed and completed trials for products in medical applications, data transmission, specialised lighting for photosynthesis, aqua lighting and sanitisation, among others. 

According to an industry report published by CARE Advisory Research and Training Ltd (CARE Edge), global opto-semiconductor market was estimated at Rs 2.73 lakh crore in 2018 and has grown at a CAGR (compound annual growth rate) of 4 per cent to Rs 3.32 lakh crore in 2022. Further, this industry is expected to reach Rs 4.87 lakh crore by 2028, growing at a CAGR of 5.4 per cent from 2022 to 2028.Ends

મણપ્પુરમ ફાઇનાન્સ પ્રમોટેડ આશિર્વાદ માઇક્રો ફાઇનાન્સ લિમિટેડે રૂ. 1500 કરોડના IPO માટે ડ્રાફ્ટ પેપર્સ ફાઇલ કર્યા

મુંબઈ, 5 ઑક્ટોબર, 2023 (ગુજરાત સવેરા/ બબિતા): અશિર્વાદ માઇક્રો ફાઇનાન્સ, લિસ્ટેડ NBFC મણપ્પુરમ ફાઇનાન્સની પેટાકંપની,  એક નોન-બેંકિંગ ફાઇનાન્સ કંપની - માઇક્રોફાઇનાન્સ સંસ્થા ("MFI") ઓછી આવક ધરાવતી મહિલાઓને માઇક્રોફાઇનાન્સ લોન ઓફર કરે છે, સામાજિક અને આર્થિક રીતે વંચિત લોકોની સેવા અને સશક્તિકરણ કરે છે, પ્રારંભિક પબ્લિક ઓફરિંગ (IPO) માટે ભંડોળ ઊભું કરવા માટે મૂડી બજાર નિયમનકાર સેબી પાસે તેનો ડ્રાફ્ટ રેડ હેરિંગ પ્રોસ્પેક્ટસ (DRHP) ફાઇલ કર્યો છે.

IPO ની ફેસ વેલ્યુ રૂ. 10 પ્રતિ શેર છે અને તે રૂ. 1500 કરોડ સુધીના ઇક્વિટી શેરનો તાજો ઇશ્યુ છે જેમાં વેચાણ માટે કોઇ ઓફર (OFS) કમ્પોનેન્ટ નથી.

આ મુદ્દો પુસ્તક નિર્માણ પ્રક્રિયા દ્વારા બનાવવામાં આવી રહ્યો છે, જેમાં લાયકાત ધરાવતા સંસ્થાકીય ખરીદદારોને પ્રમાણસર ધોરણે ફાળવણી માટે 75% કરતા ઓછો ઇશ્યુ ઉપલબ્ધ રહેશે નહીં, બિન-સંસ્થાકીય બિડરોને ફાળવણી માટે ઇશ્યૂના 15% થી વધુ ઉપલબ્ધ રહેશે નહીં, અને છૂટક વ્યક્તિગત બિડર્સને ફાળવણી માટે ઇશ્યૂના 10% થી વધુ ઉપલબ્ધ રહેશે નહીં.

કંપની, આ મુદ્દા માટે અગ્રણી બેન્કરો સાથે પરામર્શ કરીને, રૂ. 300 કરોડ ("પ્રી-આઇપીઓ પ્લેસમેન્ટ") સુધીની રોકડ વિચારણા માટે ખાનગી પ્લેસમેન્ટ પર ઇક્વિટી શેરના વધુ ઇશ્યૂ પર વિચાર કરી શકે છે. જો આવી પ્લેસમેન્ટ પૂર્ણ થઈ જશે, તો તાજા ઈશ્યુનું કદ ઘટશે.

DRHP મુજબ, તાજા ઈશ્યુમાંથી મળેલી ચોખ્ખી આવકનો ઉપયોગ ભવિષ્યની વ્યાપાર જરૂરિયાતોને પહોંચી વળવા અને FY24માં તૈનાત કરવાની યોજના માટે કંપનીના મૂડી આધારને વધારવા માટે કરવામાં આવશે.

અશિર્વાદ માઇક્રો ફાઇનાન્સે 2008 માં તમિલનાડુમાં માત્ર બે શાખાઓ સાથે તેની સફર શરૂ કરી. વર્ષોથી તેણે સમગ્ર ભારતમાં તેની પહોંચ વિસ્તારી છે, હવે તે 22 રાજ્યો અને 4 કેન્દ્રશાસિત પ્રદેશોમાં 1684 શાખાઓના નેટવર્ક દ્વારા હાજર છે, 31 માર્ચ, 2023 સુધીમાં, જે 450 જિલ્લાઓને આવરી લે છે.

31 માર્ચ, 2023 સુધીમાં તે માઇક્રોફાઇનાન્સ પોર્ટફોલિયોમાં 3.25 મિલિયન સક્રિય લોનધારકોને પૂરી પાડે છે જે તેની મોટાભાગની અસ્કયામતો મેનેજમેન્ટ હેઠળ છે. તે સોના સામે લોન પણ પૂરી પાડે છે અને MSME લોન પૂરી પાડે છે

તે તેની ભૌગોલિક પહોંચને ધ્યાનમાં રાખીને ભારતની સૌથી મોટી NBFC MFI છે અને મેનેજમેન્ટ હેઠળની સંપત્તિ અને ગ્રાહકોની સંખ્યાની દ્રષ્ટિએ ત્રીજા સ્થાને છે. તે રાજ્યની હાજરીની દ્રષ્ટિએ બીજા ક્રમે છે અને ટોચના 3 રાજ્યોમાં સૌથી ઓછી સાંદ્રતા જાળવી રાખે છે જ્યારે તેની સરખામણી દેશના ટોચના 10 NBFC MFIs સાથે કરવામાં આવે છે. 

નાણાકીય વર્ષ 23 માં અશિર્વાદે માત્ર તેના ક્લાયન્ટ બેઝમાં નોંધપાત્ર વૃદ્ધિ જ નથી જોઈ, જ્યાં તે 16% થી વધુ વૃદ્ધિ પામ્યો હતો પણ જ્યારે તે શાખા દીઠ વિતરણની વાત આવે છે ત્યારે પણ તે આગેવાની કરે છે.  

નાણાકીય વર્ષ 2022-23 માટે, અસિરવાદ માઈક્રો ફાઈનાન્સ પાસે નાણાકીય વર્ષ 2021-22 માટે રૂ. 7,002.18 કરોડની સામે રૂ. 10,040.89 કરોડની AUM (અસ્કયામત હેઠળની સંપત્તિ) હતી. તેનો કર પછીનો નફો નાણાકીય વર્ષ 21-22માં રૂ. 15.26 કરોડની સરખામણીએ FY22-23માં રૂ. 218.13 કરોડ હતો, જે તેને MFI પીઅર ગ્રૂપમાં વર્ષ-દર-વર્ષ વૃદ્ધિની દ્રષ્ટિએ બીજી-શ્રેષ્ઠ પેઢી બનાવે છે.

નાણાકીય 2023 માં, તેણે અનુક્રમે 17.09% અને 2.63% પર, ઇક્વિટી પર ત્રીજા-ઉચ્ચ અને MFI પીઅર ગ્રૂપમાં અસ્કયામતો પર ચોથું-સૌથી વધુ વળતર પોસ્ટ કર્યું.

JM ફાઇનાન્શિયલ લિમિટેડ, કોટક મહિન્દ્રા કેપિટલ કંપની લિમિટેડ, નોમુરા ફાઇનાન્સિયલ એડવાઇઝરી એન્ડ સિક્યોરિટીઝ (ઇન્ડિયા) પ્રાઇવેટ લિમિટેડ, અને SBI કેપિટલ માર્કેટ્સ લિમિટેડ બુક-રનિંગ લીડ મેનેજર છે, અને લિંક ઈન્ટાઇમ ઈન્ડિયા પ્રાઈવેટ લિમિટેડ ઓફરના રજિસ્ટ્રાર છે. ઈક્વિટી શેર બીએસઈ અને એનએસઈ પર લિસ્ટેડ થવાની દરખાસ્ત છે.