Star Health and Allied Insurance Company Limited files

 Star Health and Allied Insurance Company Limited 

files DRHP with SEBI for its IPO

 DRHP Link: https://www.investmentbank.kotak.com/downloads/star-health-and-allied-insurance-company-limited-DRHP.pdf

Star Health and Allied Insurance Company Limited (‘SHAICL’ or the ‘Company’), the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in Fiscal 2021, according to CRISIL Research, filed its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for its Initial Public Offering (IPO).

The Initial Public Offering comprises of equity shares of face value of ₹10 each (“Equity Shares”) of Star Health and Allied Insurance Company Limited comprising a fresh issue aggregating up to ₹20,000 million (the “Fresh Issue”) and an offer for sale of up to 60,104,677 equity shares, including up to 30,683,553 equity shares by Safecrop Investments India LLP (“Promoter Selling Shareholder”), up to 137,816 equity shares by Konark Trust, up to 9,518 equity shares by MMPL Trust (“Promoter Group Selling Shareholders”) up to 7,680,371 equity shares by Apis Growth 6 Limited, up to 4,110,652 equity shares by Mio IV Star, up to 7,438,564 equity shares by University of Notre Dame Du Lac, up to 4,110,652 equity shares by Mio Star, up to 2,509,099 equity shares by ROC Capital Pty Limited, up to 1,476,140 equity shares by Venkatasamy Jagannathan, up to 1,804,312 equity shares by Sai Satish and up to 144,000 equity shares by Berjis Minoo Desai (collectively, the “Other Selling Shareholders”). The offer includes a reservation for subscription by eligible employees (“Employee Reservation Portion”).

The Net Proceeds from the Fresh Issue are proposed to be utilized augmentation of the Company’s capital base.

 Kotak Mahindra Capital Company Limited, Axis Capital Limited, BofA Securities India Limited, Citigroup Global Markets India Private Limited and ICICI Securities Limited are the Global Co-Coordinators and Book Running Lead Managers to the Issue.

CLSA India Private Limited, Credit Suisse Securities (India) Private Limited and Jefferies India Private Limited are the Book Running Lead Managers to the Issue.

Ambit Private Limited, DAM Capital Advisors Limited (Formerly IDFC Securities Limited) and IIFL Securities Limited are the Co-book Running Lead Managers to the issue.

Specialty Chemicals Company Anupam Rasayan receives

 Specialty Chemicals Company Anupam Rasayan receives SEBI Nod for 760 Cr IPO

Custom Development and Manufacturing focused speciality chemicals company Anupam Rasayan India Ltd has received market regulator Securities and Exchange Board of India’s (SEBI) nod to raise Rs. 760 crore through an Initial Public Offering (IPO). The IPO will be a complete fresh issue of equity shares of face value of Rs 10 each and will be listed on both exchanges, BSE and NSE

The issue will have 50% quota reserved for QIBs, 15% for Non-institutional investors, and 35% for retail investors and funds raised from the net proceeds will be used to repay/prepay Rs 556.19 cr of its indebtness i.e term loans, external commercial borrowings, working capital loan besides general corporate purposes

The company had filed DRHP with SEBI on December 22, 2021 and may consider a pre-ipo placement of equity shares aggregating up to Rs. 100 cr, in consultation with the BRLMs.

Anupam Rasayan India Ltd. has carved a niche for itself into speciality chemicals that involves multi step synthesis and complex chemistries such as Etherification, Acylation, Cyclization, Diazotization and Hydrolysis. It currently operates out of 6 multi-purpose manufacturing facilities based in Gujarat.

From FY18 to FY20, the company’s revenues have grown at CAGR of 24.29 % and its EBITDA for FY20 stood at Rs. 134.90 Crs. In spite of the lockdown imposed due to the COVID-19 pandemic the company’s half-yearly revenues increased by 51.51% i.e. from Rs 234.40 Crs to Rs 355.12 Crs for the comparable periods of September 30, 2019 and September 30, 2020, respectively.

Bankers appointed to the Issue are Axis Capital, Ambit Private, IIFL Securities and JM Financial

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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