Jupiter Wagons (JWL) lists on Bourses

               Jupiter Wagons (JWL) lists on Bourses!
Completes NCLT approved reverse merger with CEBBCO
Shares of JWL to commence trading on BSE and NSE
on 30^th June 2022

Jupiter Wagons Ltd. (JWL), a leading company providing complete mobility solutions, who had announced the reverse merger with CEBBCO (Commercial Engineers & Body Builders Company Ltd.), through the acquisition the company today completed its listing on the bourses. Erstwhile CEBBCO a prominent manufacturer of tipplers, trailers, and specialized defense vehicles in the country was acquired by JWL in a buyout (of its organization). The equity shares of the company has commenced trading on the BSE and the NSE under the new ticker symbol ‘JWL. The business will have 38,74,47,419 shares at the exchange under the provisions of the amended merger agreement.

The consolidation will result in significant synergies between business operations, allowing for more efficient cash management and unrestricted access to cash flow to be deployed more efficiently to fund growth opportunities, thereby improving stakeholders' value. It will produce long-term benefits that will boost shareholder value. Additionally, the combined business's improved net worth and backward integration of the operation, including lower cost of capital, cost savings due to focused operational efforts, rationalization, standardization, simplification of business processes, productivity gains, procurement efficiencies, and distribution logistics. The group revenue of JWL currently stands at Rs. 1,178.35 crores. Jupiter Group has signed up MOU with CAF, Spain for the manufacturing and supply of Metro coaches and similar Urban Rapid Mass Transit Systems along with Main Line High Speed Trains through a Joint Venture Company in India

Vivek Lohia, Managing Director, Jupiter Wagons Ltd. said, “As a result of the merger, JWL will be able to use its financial strength to undertake a growth phase that will include upgrading operations to meet current industry demand, expanding into new product development, and market sector consolidation. It will also contribute to the formation of a powerful organization with more capital and assets. We believe that the merger signifies a transformative event for Jupiter Wagons Group allowing us to reach the next level of growth while also improving our technology and providing the greatest mobility solutions in the country. As a result of this reverse merger, we are foreseeing many milestone achievements in the future.”

JWL recently entered the electric mobility market with the launch of ‘Jupiter Electric Mobility’ (JEM) focusing on commercial EV vehicles. The company has formed a joint venture with EA GreenPower Private Limited a wholly-owned subsidiary of GreenPower Motor Company Inc.(“GreenPower”). With the JV with GreenPower, JWL seeks to align the technology assets of both the organizations by generating safety and sustainability in the EV market.

JWL’s expansive products span across Wagons, Coupler, Draft Gear, Bogie, CMS Crossings, Passenger Coach (LHB), Metro Coach, and Loco. Their clientele includes the Ministry of Defense, Indian Railways, TATA Motors, JSW, Adani, Ultratech, Reliance Industries Ltd, Ashok Leyland, DP World, Konioke Group, Eicher, L&T, GATX, AMW, Kalburgi Cement, Unitrac, Wabtec and more.

IPO of Exxaro Tiles Limited listed on

                                 IPO of Exxaro Tiles Limited listed on Bourses

Gujarat based Exxaro Tiles Limited, one of the leading manufacturer of vitrified tiles in India having one of the highest operating profit margins in the organized ceramic industry; listed at BSE and NSE at Rs. 126 per share, a 5% per cent premium over its issue price of Rs. 120. The shares of the company at day end closed at Rs. 132.25 per share on BSE and Rs. 132.30 per share on NSE. The initial public offering was offered at a lower price band of Rs. 118 per share and higher price band of Rs. 120.

As per BSE, the total quantity traded stood at 7 .41 lac shares with a delivery quantity percentage of 100%. Quantity traded and delivery percentage at NSE was approx. 46.33 lacs shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 69.29 crores. 

The Market Capitalization of the Company post today’s closing price stood at Rs. 591.70 crore as per BSE and Rs. 591.92 crore as per NSE.

The Offer was a complete offer for sale (“Offer for Sale”) at the upper price band of Rs. 120 per share, received bids of 25,84,73,750 shares against the offered 1,14,50,675 equity shares. The portion reserved for retail investors was subscribed 39.88 times. While the Qualified Institutional Buyer category was subscribed 17.67 times, the Non-Institutional Investor category was subscribed 5.36 times and Employee Reserved category was subscribed 2.53 times.

Key brokerage houses like Arihant Capital, SMC Global, Canara Bank Securities, HEM Securities have given recommendations of "Subscribe" to the issue for long term perspective while highlighting the key strengths of the company. Exxaro has two state-of-the-art manufacturing facilities which are located at Padra and Talod respectively in Gujarat with a combined installed production capacity of 132,00,000 sq. mt. p.a. Notably, Talod Unit is one of the single largest plant for manufacturing glazed vitrified tiles under one roof in India.

It is focused on R&D efforts by developing products which are innovative and in line with the trends. R&D efforts leads to 1) 3D Effect in Double Charge Vitrified Tiles 2) Replica of Natural Stones in Double Charge Vitrified Tiles and 3) High transparent glaze in weight method for glazed vitrified tiles.

Exxaro’s integrated model enables developing insights across the entire value chain right from product design, process development, and manufacturing to marketing. This helps the Company build brand faster and stronger, besides clocking high operating margins. Company’s Key Growth Drivers are strengthening brand value, Focus on spreading dealer network, Increase sales by enhancing manufacturing capacities and continues improvement in the operating efficiencies through technology enhancements and setting up own gas station.

Aptus Value Housing Finance India Limited debut on

 Aptus Value Housing Finance India Limited debut on bourses, Scrip recovers 

Aptus Value Housing Finance India Limited, one of the largest housing finance companies in South India in terms of asset under management and having the largest branch network in South India among the peer set, as of March 31, 2021 (Source: CRISIL Report); listed on BSE at Rs. 329.95 at 6.53% discount over its issue price. The scrip got listed at NSE at Rs. 333 per share, a 5.66 % per cent discount over its issue price of Rs 353. The shares of the company at day end closed at Rs. 346.50 per share on BSE and Rs. 352 per share on NSE. 

The initial public offering was offered at a lower price band of Rs 346 per share and higher price band of Rs 353.

As per BSE, the total quantity traded stood at 16.21 lac shares with a delivery quantity percentage of 62.32%. Quantity traded and delivery percentage at NSE was approx. 3.25 crore shares and 66.47 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1176.29 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 17,171.87 crores as per BSE and Rs. 17,444.44 crores as per NSE. 

The Offer was comprising of a fresh issuance of Equity Shares, aggregating up to Rs.500 crores and an offer for sale of Equity Shares aggregating up to 64,590,695 Equity Shares by the Selling Shareholders. The portion reserved for retail investors was subscribed 1.35 times. While the Qualified Institutional Buyer category was subscribed 32.41 times, the Non-Institutional Investor category was subscribed 33.91 times.

Nirma Group backed, Nuvoco Vistas list on

 Nirma Group backed, Nuvoco Vistas list on BSE and NSE

 

Nuvoco Vistas Corporation Limited, India’s fifth largest cement company by capacity; listed on BSE at Rs. 471 at 17.36% discount over its issue price. The scrip got listed at NSE at Rs. 485 per share, a 14.91 % per cent discount over its issue price of Rs 570. The shares of the company at day end closed at Rs. 531.30 per share on BSE and Rs. 529 per share on NSE. 

The initial public offering was offered at a lower price band of Rs 560 per share and higher price band of Rs 570.

As per BSE, the total quantity traded stood at 8.12 lac shares with a delivery quantity percentage of 20.36%. Quantity traded and delivery percentage at NSE was approx. 2.20 crore shares and 52.01 % respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1210.38 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 18,976 crores as per BSE and Rs. 18,893.56 crores as per NSE.

 

 =The total Offer size was up to Rs. 5,000 crores with a fresh issuance of Equity Shares, aggregating up to Rs. 1,500 crores and an offer for sale of Equity Shares aggregating up to Rs. 3,500 crores, by Selling Shareholder. The portion reserved for retail investors was subscribed 0.73 times. While the Qualified Institutional Buyer category was subscribed 4.23 times, the Non-Institutional Investor category was subscribed 0.66 times and overall Issue was subscribed 1.71 times.

In comparison to other major cement producing countries, India exhibits the lowest per capita cement consumption at 200-250 kg, which is nearly half of world average of 500-550 kg. China has the highest per capita cement consumption of 1650-1750 kg, followed by Korea at 900-950 kg. However, despite a low per capita cement consumption, India is the second largest cement consumer in the world behind China. Crisil Research expects cement demand to register a CAGR of 6-7% in FY21-26, driven by a raft of infrastructure investments and healthy revival in housing demand.

Barbeque Nation lists on the bourses

 Barbeque Nation lists on the bourses, closes 18% up at Rs 590 per share

Barbeque-Nation Hospitality Limited one of India’s leading casual dining restaurant chains (in terms of outlet count as on September 30, 2020); listed on the NSE at Rs. 489.85, at a 2% discount over its issue price. The scrip got listed at BSE at Rs. 492 per share, a 1.6% per cent discount over its issue price of Rs 500.  The shares of the company at day end closed at Rs. 590.40 per share on BSE and Rs. 587.80 per share on NSE. The initial public offering was offered at a lower price band of Rs 498 per share and higher price band of Rs 500.

As per BSE, the total quantity traded stood at 8.96 lac shares with a delivery quantity percentage of 44.83%. Quantity traded and delivery percentage at NSE was approx. 54.20 lac shares and 37.87% respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 354.11 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 2216.53 crore as per BSE and Rs. 2206.77 crore as per NSE.

The offer aggregated upto Rs 180 cr fresh issue and OFS of upto 54,57,470 equity shares, which was opened from March 24 to 26, and had received 5.98 times bids, with the HNI quota (NII) receiving 3.10 times subscription, the QIB quota 5.11 times, the retail quota 13.13 times and employee quota 1.02 times.

Speaking on this momentous occasion Mr. Kayum Dhanani, Managing Director, Barbeque Nation Hospitality Ltd said, “We are extremely delighted to be part of the listed ecosystem in the country. This listing is the testimony to the strong foundation of our business model built on guest focus and employee focus culture. This is an important milestone in the Barbeque Nation journey and we will continue to focus on our strengths and profitably grow our network.”

Further to this, Mr. Rahul Agrawal, Chief Executive Officer & Whole Time Director, Barbeque Nation Hospitality Ltd said, “We are thankful to all our stakeholders for a great response to the IPO and listing of Barbeque Nation. This journey would not have been remotely complete without our team members who have worked extremely hard to deliver the results over last so many years. Despite the impact of Covid-19 on our sector, the resilience and perseverance of our team ensured that we bounce back stronger with the addition of a sustainable delivery business, agility to reduce costs and a strong balance sheet post equity capital raise.”

Sunteck Realty Ltd enters JV to develop 7 acres of

Sunteck Realty Ltd enters JV to develop 7 acres of waterfront residences at Borivali West in Mumbai; Estimated to see a revenue generation of over INR 1750 crores

 

• Project to see a potential development of approximately 1mn sq ft
• Revenue generation of Rs 1750 crore (Rs17.5 billion) envisaged for the next 4-5 years
• Luxury residential development with premium sea view living
• JLL India was the exclusive transaction partner

 

Sunteck Realty Limited, the BSE and NSE Listed premium property developer in Mumbai has secured a marquee ~7 acre land parcel at Borivali (West). Sunteck Realty Limited would develop a luxury residential project in the upmarket residential locality. JLL India was the exclusive transaction partner for the JV.

 

Acquired under the asset light JDA model the residential project in the western suburbs of the city is spread across 7 acres and will have approximately 1 mn sq. ft of development potential. It is expected to generate a project top line of around INR 1,750 crore over the next 4-5 years further strengthening the cash flow and the balance sheet of the company. The project is likely to offer unobstructed views of the mangroves of Borivali and Gorai right up till the Global Vipassana Pagoda and beyond.

 

“We are pleased to have entered this joint venture. Given the land parcel is overlooking the sea, this development shall provide an opportunity to curate a unique and world class residential product consistent with the Sunteck brand. We shall bring in our best in class construction and development capabilities of luxury living. Our endeavor is to create a landmark development in this micro-market” said Mr. Kamal Khetan, Chairman, Sunteck Realty Limited.

 

"Mumbai western suburbs continue to remain one of the most dominant and active end user residential markets in the country. Historically low home loan rates along with government incentives as well as rationalisation of prices by real estate developers has led to healthy ready inventory absorption in the past few quarters. As such, we feel the trend to percolate to newer launches and under-construction projects as well. Stronger brands should continue to observe aggressive sales going ahead" said Nishant Kabra, Senior Director & Head – Land and Development Services (West India), JLL.

 

Borivali West - located in the western suburb of Mumbai has transformed into an excellent residential destination owing to good road/rail connectivity and social infrastructure. Beyond this, the upcoming metro line 2A connects Dahisar to DN Nagar and further to other parts of the city via multiple lines. The metro development along with the Coastal Road Project will transform this micro-market and solidify the city’s western suburbs as a much more attractive residential and commercial destination due to significantly reduced travel time.

 

Mrs Bectors Food's Rs 540-cr IPO to open on

Mrs Bectors Food's Rs 540-cr IPO to open on 15^th Dec 2020

 

Mrs Bectors Food Specialities initial public offer of Rs 540-crore will open on Tuesday, 15^th December 2020 for public subscription. The price band has been fixed at Rs 286-288 per share for the initial public offering. The IPO comprises fresh issuance of shares worth Rs 40.54 crore and offer for sale to the tune of Rs 500 crore by existing shareholders.

 

The initial share-sale will open on December 15 for public subscription and close on December 17. Net proceeds of the issue would be utilised for financing the project cost towards expansion of the Rajpura manufacturing facility by establishing a new production line for biscuits and for general corporate purpose

 

Mrs Bectors Food manufactures and markets a range of products such as biscuits, breads and buns. It markets a wide variety of biscuits and bread under the flagship brand "Mrs Bector''s Cremica" and the "English Oven" respectively.

 

Linus Private Limited, Mabel Private Limited , GW Confectionary Pte Ltd and GW Crown Pte Ltd will be offering stocks in the initial share-sale. SBI Capital Markets, ICICI Securities and IIFL Securities will manage the company''s initial public offer (IPO).The equity shares will be listed on BSE and NSE.

RITES FY20 Revenue up by

RITES FY20 Revenue up by 22.1%, PAT up by 29.3%

Final dividend of Rs 6 per share

RITES Ltd. (NSE: RITES, BSE: 541556), the leading Transport  Infrastructure Consultancy and Engineering firm, announced its standalone and consolidated financial results for the Quarter and Year ended on 31^st March, 2020. 

        

       Highlights for FY20 Standalone Financials

      §  Total Revenue up by 23.1% to  Rs 2665 crore, highest ever

§  Achieved growth of 21.9% against targeted growth of 17% in operating revenue

§  Exports increased by 161.6% to Rs 541 crore

§  Profit After Tax up by 34.1% to Rs 596 crore, highest ever

§  Final Dividend of Rs 6 per share recommended by Board of Directors

§  Highest ever annual dividend of Rs 400 crore

     Highlights for FY20 Consolidated Financials

§  Total Revenue up by 22.1% to Rs 2735 crore, highest ever

§  Profit After Tax up by 29.3% to Rs 633 crore, highest ever

§  Order Book as on 31.03.2020 stands at Rs 6223 crore

§  EPS at Rs 24.64 as compared to last year’s Rs 18.78 up by 31.2%

   Highlights for Q4 FY20 Standalone Financials

§  Total Revenue stands at Rs 596 crore as against Rs 765 crore in Q4FY19

§  Profit After Tax stands at Rs 131 crore as against Rs 133 crore in Q4FY19

§  Margins maintained across segments

Highlights for Q4 FY20 Consolidated Financials

§  Total Revenue stands at Rs 614 crore as against Rs 789 crore in Q4FY19

§  Profit After Tax stands at Rs 144 crore as against Rs 150 crore in Q4FY19

§  EPS at Rs 5.56 as compared to last year’s Rs 5.81

Revenue and Profit Growth

Consolidated

RITES total consolidated revenue has gone up by 22.1% to Rs 2735 crore. Similarly, the operating revenue, excluding other income, increased by 20.9% and reached Rs 2474 crore. Consolidated EBITDA and PAT have gone up by 19.6% and 29.3% to `929 crore and Rs 633 crore, respectively, over FY19. This significant growth came with sustained EBITDA and PAT margins which stand at 34% and 23.2% respectively. These margins are the result of strategic focus on order execution and increased human resource productivity.

Standalone

RITES total standalone revenue has gone up by 23.1% to Rs 2665 crore. Similarly, the operating revenue, excluding other income, increased by 21.9% and reached `2401 crore in FY20. EBITDA and PAT have gone up by 21.6% and 34.1% to `867 crore and `596 crore, respectively, over FY19. Consultancy and leasing helped to maintain profit margins and EBITDA and PAT margin stand at 32.5% and 22.4%, respectively during the year. Key performance was in Exports which saw a jump of 161.6%. Consultancy revenue remained almost flat because of various reasons including disruption in March’20 and certain foreign projects suffered due to lockdown in those countries. Other than exports, leasing and turnkey also saw high growth of 16.5% and 18.7% respectively.

Q4FY20 (standalone)

Q4FY20 total revenue stands at `596 crore as against `765 crore in Q4FY19. Revenue moderated during the quarter due to lockdown and major exports shipments were already completed till Q3FY20. Similarly, the operating revenue, excluding other income, stands at `553 crore in FY20. EBITDA and PAT margin stand at 31.9% and 22%, respectively which remained intact on better margins from consultancy.

Performance of our Subsidiary and JV

Revenue from our subsidiary REMCL has remained almost flat amounting to `81 crore against `83 crore in the previous financial year. PBT has shown a slight growth of 0.6% with `50 crore against `49 crore in FY19. Revenue from this subsidiary got impacted in Q4FY20 due to low demand from railways during lockdown and maintenance work for wind mills.

Our wagon manufacturing Joint Venture, SRBWPL, has achieved a profit of `16 crore with revenue of `265 crore during FY20. The wagon manufacturing joint venture has produced and rehabilitated 1066 wagons during the last financial year.

Commenting on the results, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited, said, “Notwithstanding the challenging business environment, I am pleased to share that our company has demonstrated sustained growth momentum across the segments during FY20 and again surpassed the revenue and profitability targets. Rolling stock exports remained our strategic growth area duly supported with Govt of India’s Make in India program. We achieved a major success by securing an export order of `706 crore from Mozambique for cape gauge locomotives and coaches. We plan to develop products for standard gauge countries too. ”

Dividend

After declaring 2 interim dividends of `150 crore (`6 per share) and `100 crore (`4 per share) for FY20, Board of Directors have recommended a final dividend of `150 crore (`6 per share) for FY20 which is 60% of paid-up capital. This dividend will take the dividend payout of the company to 67% for the FY20 based on the PAT of FY20 and it will make it the highest ever annual dividend declared by the company.

Growth Outlook for FY21

Commenting on the outlook, Mr. Mehrotra said, “The Company has successfully surpassed the guidance for FY20. Some uncertainties have emerged in recent times due to Covid-19, which may impact the business operations in FY21 but sufficient order book, diversified business segments and opportunities in infrastructure sector at domestic level as well as abroad are expected to help in quick recovery and future business growth.”