Paras Defense And Space Technologies Ltd. files for

Paras Defense And Space Technologies Ltd. files for IPO

Paras Defense And Space Technologies Ltd., one of the ‘Indigenously Designed Developed and Manufactured Company’ (IDDM) category private sector company in India, primarily engaged in designing, developing, manufacturing and testing of a wide range of defense and space engineering products and solutions; has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator for IPO.

The Issue will comprise of a Fresh Issuance of equity shares aggregating up to Rs 120 cr and an Offer For Sale of up to 17,24,490 equity shares by Promoter Selling Shareholders and Individual Selling Shareholders. The Company, in consultation with BRLMs, may consider a pre-ipo placement of equity shares for cash consideration aggregating up to Rs. 35 crore; further to which particular amount raised from the pre-ipo placement will not be reduced from the fresh issue.

The Company intends to utilize the net proceeds from the Fresh Issue towards purchase of machinery and equipment, funding incremental working capital requirements, repaying of certain borrowings and for general corporate purposes.

As per the F&S Report, Paras Defense And Space Technologies Ltd., is amongst India’s leading private sector Company catering to four major segments of Indian Defence Sector namely defence and space optics, defence electronics, electro-magnetic pulse (“EMP”) protection solution, and heavy engineering. Paras Defense is the sole Indian supplier of critical imaging components which also offers niche technologies through its product offerings. The Company manufactures high precision optics for the defense and space applications such as thermal imaging and space imaging systems. As per the F&S Report, it is the only Indian Company to have the design capability for space-optics and opto-mechanical assemblies.

The Mumbai based Company has contributed towards various space and defence programmes by providing optics; and under its defence electronics operations it has managed to provide a wide array of high performance computing and electronic systems for defence applications, including sub systems for border defence, missiles, tanks and naval applications. The Company has undertaken and delivered customized turnkey projects specializing in the defence electronics and EMP protection segments backed by specialized technology capabilities. Currently, the Company operates through two manufacturing facilities in Maharashtra, located at Nerul (Navi Mumbai) and Ambernath (in Thane).

At the domestic front, Paras Defense’s customer base ranges from PSUs to various defense public sector undertakings like Bharat Electronics Limited (BEL), Bharat Dynamics Limited (BDL) and Hindustan Aeronautics Limited (HAL); and has supplied products and solutions to private entities including Tata Consultancy Services Ltd., and Alpha Design Technologies Ltd. The Company has also catered to foreign customers like Advanced 138 Mechanical and Optical Systems (AMOS), Belgium, Chaban (Israel), Tae Young Optics Company Limited (South Korea), and Green Optics (South Korea).

The consolidated total income stands at ₹ 379.40 million for the six-month period ended September 30, 2020, and ₹1,490.51 million, ₹1,571.69 million and ₹1,525.33 million for the fiscal years ended March 31, 2020, 2019 and 2018, respectively. Consolidated profit after tax was ₹(1.39) million for the six month period ended September 30, 2020, and ₹196.57 million, ₹189.70 million and ₹250.80 million for the fiscal years ended March 31, 2020, 2019 and 2018, respectively.

The portion reserved for Qualified Institutional Buyers will be upto 50% of the offer, Non-Institutional Investors to have upto 15% of the portion reserved while upto 35% will be reserved for the Retail Investors.

Anand Rathi Advisors Ltd. is the Book Running Lead Manager to the issue.

Shyam Metalics & Energy files for

 Shyam Metalics & Energy files for Rs. 1107 cr IPO

Shyam Metalics and Energy Ltd, a leading integrated metal producing company and also amongst the largest producers of ferro alloys in India , in terms of installed capacity as on February 2021 (Source: CRISIL Report); has refiled its Draft Red Herring Prospectus (DRHP) with the markets regulator for a  Rs. 1107 cr IPO. The company tried to tap the capital markets in 2018 and had even received its SEBI Nod in early 2019. However, due to the pandemic and tepid market sentiments the Company deferred its plans to list on the bourses.

The aggregate issue size of Rs 1107 cr comprises of a Fresh Issuance of equity shares aggregating up to Rs  657 cr and an Offer For Sale by  selling shareholders i.e Promoter and Promoter Group  -  Subham Capital, Subham Buildwell, Kalpataru Housefin & Trading, Dorite Tracon, Narantak Dealcomm and Toplight Mercantiles aggregating up to Rs. 450 cr The offer includes a reservation of up to 3,00,000 equity shares for eligible employees.

The Company intends to utilize the net proceeds from the fresh issue for repayment or prepayment of Rs 470 crs of its debt and that of its subsidiary, Shyam SEL and Power Ltd; and for other general corporate purposes.

The portion reserved for Qualified Institutional Buyers will be upto 50% of the offer, Non-Institutional Investors to have upto 15% of the portion reserved while upto 35% will be reserved for the Retail Investors.

The Kolkata based long steel products and ferro alloy focused company has been EBITA positive since its operations in 2005 and sells intermediate and final products across the steel value chain catering to institutional and end use customers through 42 distributors, brokers across 13 states and 1 union territory.

The Company currently operates three manufacturing plants that are located at Sambalpur in Odisha, and Jamuria and Mangalpur in West Bengal.

The company sells thermo mechanically treated bars and structural products under the SEL brand name and as on Dec 31, 2020 had an aggregate metal capacity of its 3 manufacturing plants at 5.71 million tonnes per annum which stands to increase to 11.60 mn MTPA as per the ongoing capacity expansion plans by FY2025. It was fourth largest player in the sponge iron industry when compared with Indian peers on the basis of capacity

Additionally, SMEL is looking to enter in segments such as pig iron, ductile iron pipes and aluminum foil and is in the process of commissioning an aluminum foil rolling mill at Pakuria in West Bengal with a proposed installed capacity of 0.04 MTPA , expected to become operational by FY2022.

Steel demand growth has outpaced the countries macroeconomic growth in FY18 and FY19. The impetus given to the infrastructure segment which accounts for approximately 30% of the steel demand will see an increase in FY22 besides additional factors such as the soft revival in the housing sector led by Affordable Housing and post covid recovery of the Auto Sector. India today is the second largest producer of steel in the world with nearly 6% share of global steel production.

ICICI Securities Ltd., JM Financial Ltd, Axis Capital Ltd, IIFL Securities Ltd and SBI Capital Markets Ltd are the BRLMS to the Issue.

NSE, Warburg Pincus backed CAMS, files for

NSE, Warburg Pincus backed CAMS, files for IPO

Computer Age Management Services (CAMS), India’s largest technology driven financial infrastructure and services provider to the growing mutual fund industry, serving an AAUM of Rs. 18.7 trillion as on November, 2019 which is 69.4% of total mutual fund assets held by 16 Mutual Funds, on Thursday filed its Draft Red Herring Prospectus (DRHP) with markets regulator Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).

 

The IPO will be an Offer for Sale (OFS), in which 1,21,64,400 equity shares of face value Rs. 10 each will be offloaded by the Great Terrain Investment Ltd (an affiliate of Warburg Pincus), NSE Investments Ltd , Acsys Investments Ltd, HDFC Ltd and HDB Employees Welfare Trust  The issue includes an eligible employee reservations of upto 1.5% of the post offer paid up equity share capital. The Net Offer will have a 50% allocation to Qualified Institutional Buyers, 15% to Non Institutional Investors and 35% to Retail Individual Buyers.

The Book Running Lead Managers (BRLMs) to the offer are Kotak Mahindra Capital Company Limited, HDFC Bank Limited, ICICI Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited.

Market sources estimate the IPO size to be anywhere between Rs. 1500-1600 crore

Spearheading the financial services segment since over 2 decades and augmenting fund growth, CAMS, offers an integrated canvas of services across physical and electronic touch points for receipt, verification and processing of financial and non-financial transactions for the BFSI sector, largely to the MF industry, in services of transaction origination and execution, payment, settlement and reconciliation; dividend processing, record keeping, report generation, intermediary empanelment and brokerage computation and compliance related services via its proprietary technology platforms and application suites such as myCAMS (2.9mn users), GoCORP (2400+ users), CAMSsmart, digiSIP, digiINFO,edge360 which caters to investors and intermediaries               

The AUM of equity mutual funds serviced by CAMS grew from Rs. 2,180 billion as of March 31, 2015 to Rs. 6,643 billion as of March 31, 2019, at a CAGR of 32.1%, and as of September 30, 2019 was Rs. 6,701 billion.

According to the DRHP, its total income and profit after tax for FY19 stood at Rs. 7,114.96 mn and Rs. 1308.95 mn respectively, its revenues have grown at a CAGR of 19% since 2017.

CAMS, the largest registrar and transfer agent for MFs going forward seeks to maintain its leadership position by deepening its technology integration and improving its value delivery, in addition to its focus on growing its business across insurance, electronic payment collection, Alternative Investment Funds, KYC Registration and Software Solutions.

According to the CRISIL Report, AAUM of the mutual fund industry has grown at a CAGR of 16.2 % between 2010 and 2019. This growth was led by increase in share of mutual funds in household savings as well as the increase in number of individual and institutional investors investing in mutual funds. Indian MF industry has a lot of headroom to grow keeping in mind higher disposable incomes and investable surplus, a growing investor base, increasing financial savings and Govt fillps towards awareness, ease, digitization and perception of MFs as a long term wealth creator