Effective yield p.a. from 9.25% to 10.00% : Muthoot Finance to raise Rs. 1000 crore through NCD



Muthoot Finance to raise Rs. 1000 crore through NCD

Muthoot Finance Ltd has announced its 21stseries of Public Issue of Secured Redeemable Non-convertible Debentures. The issue is with a base issue size of ₹ 100crores with an option to retain oversubscription upto ₹ 900crores aggregating upto tranche limit of ₹ 1,000 crores (“Tranche III issue”).The issue opens on September 27,2019 and closes on October 25,2019with an option to close on such earlier date or extended date as may be decided bythe Board of directors or NCD committee.

Mr. George Alexander Muthoot , Managing Director, Muthoot Finance, said“The issue will help the company to have long term funds and diversify borrowing basket as well. The previous NCD issues were well received in the market and were over-subscribed.

He further added, “It provides an opportunity to Retail and High Networth Individual investors, to whom we have allocated 80% of the total issue size, with  stable and attractive long term returns when there are only limited comparable alternative avenues for investments.”

The issue is rated by two Credit Rating Agencies – CRISIL Ltd and ICRA Ltd. Both agencies have awarded long term debt rating of ‘AA/Stable’for the debentures offeredunder the issue.The rating scale denotes‘High degree of safety regarding timely servicing of financial obligations and very low credit risk’.


The NCDs are proposed to be listed on BSE.The allotment is based on first come first serve basis.

There are ten investment options for Secured NCDs with ‘Monthly’ or ‘Annual’ interest payment frequency or ‘on maturity redemption’ payments with effective yield p.a. ranging from 9.25% to 10.00%.
The funds raised through this issue will be utilised primarily for lending activities of the Company.

The Lead Managers to the issue are Edelweiss Financial Services Limited and A. K. Capital Services Limited. IDBI Trusteeship Services Limited is the Debenture Trustee for the issue. Link Intime India Private Limited is the Registrar to the Issue.

For Further information, please contact:
Dimple Momaya,
Adfactors Public Relations Pvt Ltd
Contact: +9198207 62036


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Should I Avoid: Vishwaraj Sugar Industries IPO

 Should I Avoid: Vishwaraj Sugar Industries IPO




Vishwaraj Sugar Industries IPO Review Bangalore based Vishwaraj Sugar Industries IPO would open for subscription on 30th September, 2019.
Vishwaraj Sugar Industries Limited is engaged in manufacturing of sugar and other allied products in India.
This company had planned for IPO almost 6 years back and did not come up for unknown reasons. The loss […]

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9 Major ANNOUNCEMENTs by FM Ms. Nirmala Sitharaman


 9 Major ANNOUNCEMENTs  by FM Ms. Nirmala Sitharaman  

1. Corporate tax rate to be 22% without exemptions, inclusive of surcharge and cess. 

2. No Minimum Alternate Tax (MAT) applicable on such companies

3. Effective corporate tax rate after surcharge to be 25.17 percent

4. To attract investment in manufacturing, local companies incorporated after October 2019 will pay tax at 15 percent

5. That effective tax for new companies shall be 17.01 percent, including cess and surcharge. Companies enjoying tax holidays would be able to avail concessional rates post the exemption period. 


6. Will give MAT relief for those opting to continue paying surcharge and cess. MAT has been reduced to 15 percent from 18.5 percent for companies who continue to avail exemptions and incentives:

7, To stabilise flow of funds into the market the enhanced surcharge announced in Budget 2019 will not apply on capital gains arising on sale of any security, including derivatives by foreign portfolio investors (FPI)

8. For listed companies which made announcement for public buyback before July 2019 it is provided that tax on buyback on shares of such companies will no be charged

9. Total revenue foregone by undertaking these measures is Rs 1.45 lakh crore per year


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Chennai Based Fortune Planners New Office Opening On 23rd September 2019


Chennai Based Fortune Planners 
New Office Opening On 23rd September 2019

https://fortuneplanners.com/

Old no 5, New No 9, Kuppusamy Street, G1, 
Lotus Apartments, 
T. Nagar, Chennai – 600017
+91- 9884349173
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Percentage Change in Equity Mutual Fund NAV due to change in Tax Rate Cut on 20 September 2019



Percentage Change in Equity Mutual Fund NAV (Net Asset Value) due to change in Tax Rate Cut on 20 September   2019


 % Change in "Equity Mutual Fund" NAV due to change in Tax Rate Cut on 20 Sep 2019
% Change
Net Asset Value
Scheme Name
20-Sep-19
19-Sep-19
as on 20 Sep
Reliance ETF Bank BeES
2959.14
2732.09
8.31
SBI-ETF Nifty Bank
293.19
270.70
8.31
Kotak Banking ETF
297.11
274.32
8.31
Edelweiss ETF - Nifty Bank
2952.49
2726.24
8.30
ICICI Prudential Bank ETF
290.42
268.17
8.30
ICICI Prudential Private Banks ETF
160.89
148.64
8.24
Tata Nifty Private Bank Exchange Traded Fund
162.91
150.63
8.15
Motilal Oswal Nifty Bank Index - Regular Plan
10.59
9.79
8.14
UTI Banking and Financial Services Fund - Regular Plan -
94.45
87.48
7.97
UTI Banking and Financial Services Fund - Regular Plan - Income
36.76
34.05
7.97
UTI-Transpotation and Logistics Fund-
87.68
81.22
7.96
UTI-Transportation and Logistics Fund-Income
40.43
37.45
7.96
Reliance Banking Fund- Plan-Bonus
266.32
246.73
7.94
Reliance Banking Fund- Plan-
266.32
246.73
7.94
ICICI Prudential Midcap Select ETF
63.20
58.70
7.67
Taurus Banking & Financial Services Fund - Regular Plan -
26.00
24.18
7.53
ICICI Prudential Bharat Consumption Fund -
10.02
9.32
7.51
IDFC Focused Equity Fund-Regular Plan-
35.39
32.94
7.44
Aditya Birla Sun Life Banking and Financial Services Fund - Regular Plan -
28.29
26.34
7.40
LIC MF Banking and Financial Services Fund-Regular Plan-
11.19
10.42
7.36
DSP Top 100 Equity Fund - Regular Plan -
205.84
191.87
7.28
IDBI Banking & Financial Services Fund - Regular Plan ()
10.34
9.64
7.26
Baroda Banking and Financial Services Fund - Plan A -
23.35
21.77
7.26
Motilal Oswal Long Term Equity Fund (MOFLTE) - Regular Plan -
17.36
16.19
7.22
Mahindra Rural Bharat and Cunsumption Yojana - Regular Plan -
9.86
9.20
7.17
Motilal Oswal Midcap 30 Fund (MOF30)-Regular Plan-
25.40
23.70
7.16
DSP Focus Fund - Regular Plan -
23.22
21.68
7.14
Sundaram Financial Services Opportunities Fund Inst
46.13
43.07
7.11
Sundaram Financial Services Opportunities Fund Reg
42.97
40.12
7.11
Invesco India Financial Services Fund - Retail
56.53
52.79
7.08
IDBI Equity Advantage Fund - Regular
26.57
24.84
6.96
Reliance ETF PSU Bank BeES
277.88
259.86
6.93
Kotak PSU Bank ETF
249.85
233.65
6.93
Tata Banking And Financial Services Fund-Regular Plan-
19.32
18.07
6.93
Reliance Tax Saver (ELSS) Fund- Plan-
50.08
46.90
6.78
Aditya Birla Sun Life Equity Advantage Fund - Regular
390.75
366.01
6.76
SBI BANKING & FINANCIAL SERVICES FUND - REGULAR PLAN -
17.98
16.86
6.66
Sundaram Large and Midcap
34.35
32.22
6.64
Reliance ETF Consumption
51.93
48.70
6.62
ICICI Prudential Banking and Financial Services Fund -
63.22
59.36
6.50
UTI India Consumer Fund - Regular Plan -
25.56
24.01
6.46
DSP Equity Fund - Regular Plan -
40.09
37.65
6.46
Mirae Asset Midcap Fund - Regular Plan
10.53
9.89
6.40
IDBI DIVERSIFIED EQUITY FUND Regular
20.96
19.70
6.40
Reliance Vision Fund- PLAN-
506.85
476.49
6.37
Reliance Vision Fund- PLAN-Bonus
85.36
80.25
6.37
IDFC Core Equity Fund-Regular Plan-
43.52
40.92
6.35
UTI Infrastructure Fund-Income
26.73
25.14
6.35
UTI Infrastructure Fund-
51.15
48.10
6.35
Mirae Asset Great Consumer Fund - Regular Plan -
34.79
32.71
6.34
Axis Focused 25 Fund -
28.43
26.74
6.32
Mahindra Unnati Emerging Business Yojana - Regular Plan -
9.21
8.66
6.31
Axis Long Term Equity Fund -
45.91
43.20
6.28
L&T Business Cycles Fund - Regular Plan -
14.91
14.03
6.27
UTI - S&P BSE Sensex Next 50 Exchange Traded Fund
314.89
296.35
6.25
Tata Multicap Fund -Regular Plan-
10.49
9.87
6.24
SBI - ETF SENSEX NEXT 50
315.40
296.88
6.24
Reliance ETF Sensex Next 50
31.23
29.40
6.23
DSP India T.I.G.E.R. Fund - Regular Plan -
89.14
83.96
6.17
HSBC Tax Saver Equity Fund -
35.98
33.89
6.15
Mirae Asset Focused Fund Regular Plan
10.89
10.26
6.15
Edelweiss Tax Advantage Fund - Regular Plan -
39.10
36.84
6.14

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SHARE RECOMMENDATIONS BY Shubham Aggarwal, CK Narayan, Shrikant Chouhan

SHARE RECOMMENDATIONS BY Shubham Aggarwal,  CK Narayan, Shrikant Chouhan




SHARE RECOMMENDATIONS
Infosys Ltd.
Buy Infosys, target Rs 845: Shubham Aggarwal
Buy
Sun Pharmaceutical Industries Ltd. Sell
Indraprastha Gas Ltd.
Sell Indraprastha Gas, target Rs 310: CK Narayan
Sell
UPL Ltd.
Buy UPL, target Rs 579: CK Narayan
Buy
Tata Motors Ltd.
Buy Tata Motors, target Rs 132: Shrikant Chouhan
Buy
Infosys Ltd.
Buy Infosys, target Rs 845: Shubham Aggarwal
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Slashing of Corporate tax : Flow of investment in Manufacturing and Exports: Mr. S K Saraf, President, FIEO

Slashing of Corporate tax and allocation of CSR for R&D would increase the flow of investment in Manufacturing and Exports: S K Saraf, President, FIEO

S K Saraf, President, FIEO

Hailing the reduction in Corporate Tax Rate to 22% for domestic companies and 15% for new companies, Mr Sharad Kumar Saraf, President, FIEO said that such reduction would attract much needed investment both through FDI route and domestic investment. 

The timely move would also help in attracting investment from companies in China who are looking for new destinations for expansion or starting a new venture with an eye on US market. It will encourage investment in the existing domestic companies also giving them the scale to cater to the huge market of US & China. 

The technology companies in small segment may migrate to medium size companies with equity participation from overseas. The effective rate of 17.01% is very attractive as the similar rate in US is about 21% and in China about 25%. The reduced rate has given further stimulus to investors attracted to India as a market.

Mr Saraf said that the allocation of 2% CSR fund on incubators, IITs, national laboratories and specified agencies engaged in conducting research would not only establish industry academia relationship but would give a push to R&D and product innovation which is need of the hour in exports particularly as India is focusing now on sunrise sectors of exports.

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Conference on TN Medical Value Travel Mart, 19 to 22 September 2019 at Chennai Trade Centre

Conference on TN Medical Value Travel Mart
20 September 2019: 1000 Hrs: Chennai Trade Centre, Nandambakkam

We are pleased to inform you that CII in association with Tamil Nadu Travel Mart Society and supported by the Ministry of Tourism, Government of India, Department of Tourism, Government of Tamil Nadu is organizing its 2nd edition of Tamil Nadu Travel Mart and CII Tamil Nadu Medical Value Mart from 19 to 22 September 2019 at Chennai Trade Centre, Nandambakkam, Chennai.

Dr C Vijaya Baskar, Hon’ble Minister for Health and Family Welfare, Government of Tamil Nadu have kindly consented to  deliver the Inaugural Address at Conference on TN Medical Value.

Other key speakers include: Dr M Sharmila, Director, Equipments Tamil Nadu Medical Services Corporation Ltd; Thiru S Ganesh, IAS, Director, Indian Medicine and Homeopathy; Mr S Chandramohan, Chairman, CII Tamil Nadu; Dr S Chandrakumar, Convenor, CII Tamil Nadu Medical Tourism Taskforce among others



Inaugural Details:

Date               :           20th  September 2019 (Friday)

Time               :          10:00 Hrs


Venue            :           Chennai Trade Centre, Nandambakkam, Chennai.
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