Dar Credit and Capital shares to list today. Check GMP ahead of debut
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Dar Credit and Capital, a non-banking financial company (NBFC), is set to debut on the NSE SME platform on Wednesday. The company's Rs 26.46 crore IPO received a resounding response from investors, with the issue being subscribed over 106 times. The offering was entirely a fresh issue of 44.1 lakh equity shares at a fixed price of Rs 60 per share.The company's shares were last trading at a grey market premium (GMP) of Rs 16, suggesting an expected listing price of Rs 76 per share. This indicates a potential gain of approximately 26.7% over the issue price.The substantial oversubscription and robust grey market premium indicate strong investor confidence in Dar Credit and Capital listing prospects. Investors who secured allotments can anticipate potential listing gains. However, as with all investments, it's advisable to consider the company's fundamentals and market conditions before making any decisions.While brokerages have not covered the public offer, the strong subscription numbers and positive GMP suggest favorable market sentiment towards the company.The funds raised through the IPO will be used to augment the company's capital base and support future lending growth.Incorporated in 1994, Dar Credit and Capital focuses on providing personal loans, unsecured MSME loans, and secured MSME loans. The company primarily caters to low-income individuals, self-employed workers, and small entrepreneurs, with a strong focus on underserved segments such as municipal workers and women borrowers.It operates with a vision of financial inclusion and empowerment, particularly for micro-businesses.In the fiscal year 2023-24, the company reported a revenue of Rs 33.01 crore and a profit after tax of Rs 3.97 crore. The return on equity stood at 6.17%, with a debt-to-equity ratio of 2.51.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
18 minutes ago
- Business Standard
Two major road projects approved to decongest Delhi-NCR region
To decongest Delhi and the national capital region, the construction of two mega highways has been approved in a meeting recently held between Union Transport Minister Nitin Gadkari and Chief Minister Rekha Gupta, costing around Rs 10,000 crore. A new 17-kilometer-long highway connecting Urban Extension Road II (UER 2) to the Delhi-Dehradun expressway near Tronica City has been approved. After completion, this project will reduce traffic load on inner roads, easing pressure on National Highway-48, National Highway-44, Ring Roads and the Barapullah elevated corridor. The estimated construction cost of the project is Rs 3,300 crore. According to officials, connecting UER 2 to the Delhi-Dehradun, which starts near Akshardham temple, will provide faster connectivity to traffic generated from Haryana and Rajasthan, which is destined to move towards Dehradun. "Currently bids that have been received for hiring a consultant are under evaluation and the work to prepare a detailed project report is likely to be awarded by mid-June this year," according to a government document. Another project for the construction of a 65 km long highway from Tronica City connecting to the under-construction FaridabadNoidaGhaziabad Expressway, or FNG Expressway, has been approved. As per the plan, this highway will connect five major roadsDelhi-Dehradun Expressway, Delhi-Meerut Expressway, Noida-Greater Noida Expressway, DND-Faridabad Highway, and Yamuna Expresswayall together around NCR. "The highway will provide connectivity to NCR towns such as Loni, Baghpat, Ghaziabad, Noida and Faridabad with North and Southwest Delhi. It will help in decongesting internal roads and city centres like the Sarai Kale Khan section and Kalindi Kunj, providing an alternative for intercity and freight traffic," the document said. A tender has been floated for hiring a consultant to prepare a DPR for this project, the estimated cost of construction is Rs 7,500 crore. "A total of 1.25 lakh crore work decongestion projects has been initiated by the centre in Delhi. The projects will be executed by the National Highways Authority of India (NHAI) at its own cost with the support of PWD," CM Gupta had said after the high-level meeting. The NHAI is also utilizing a large amount of inert waste recovered through biomining of legacy waste accumulated at Delhi's landfill sites. To date, approximately 10 lakh metric tons of inert material have been utilized in the construction of the UER 2 project.
Business Standard
18 minutes ago
- Business Standard
L & T Finance Ltd. Completes the Acquisition of Paul Merchants Finance's Gold Loan Business
NewsVoir Mumbai (Maharashtra) [India], June 9: L & T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in the country, announced the completion of the transfer of the gold loan business of Paul Merchants Finance Private Ltd. (PMFL), a wholly owned subsidiary of Paul Merchants Ltd., to LTF. The acquisition includes PMFL's 130 branches, approximately 700 employees, and business transfer of its gold loan book size of Rs. 1,350 Crore to LTF. Earlier this calendar year, LTF had announced the proposed acquisition of gold loan business undertaking of PMFL, marking its entry into gold loan business. The gold loan franchise will be an addition to LTF's portfolio of secured loan products. Speaking on this occasion, Sudipta Roy, Managing Director & CEO of LTF said, "We are pleased to announce the completion of PMFL's gold loan business acquisition. In-line with our five-pillar strategy of enhancing customer acquisition, we continuously endeavour to expand our existing product offerings in a synergistic and contiguous manner. LTF has one of the largest rural franchises of approximately 1.6 crore rural customers and hence, this acquisition is a natural contiguous cross-sell product extension of our business. Our rural workforce of 20,000 feet-on-street will provide an immediate force multiplier, enabling active generation of gold loan leads within our existing customer base. This is a significant strength that sets us apart from the competition." "The gold loans business will fill a crucial gap in our portfolio, introducing a secured, high-yield product that will benefit both our rural and urban customers. This acquisition is not just about expanding our offerings; it's about solidifying our position as a comprehensive financial partner for our customers across the country," added Mr. Roy. LTF's entry into the gold loan business aligns seamlessly with the Company's philosophy of risk-calibrated inorganic growth, fulfilling considerations such as addressing a critical capability gap, ensuring an easily integrable business model and people profile, and being available at attractive valuations. Sat Paul Bansal, Chairman and Managing Director of PMFL said, "We are proud to have built a strong, compliant, and customer centric gold loan business undertaking and we believe that LTF is the ideal partner to take this legacy forward. We are confident that the customers and employees transitioning to LTF will continue to thrive under its leadership and expansive ecosystem." L & T Finance Ltd. (LTF) ( formerly known as L & T Finance Holdings Ltd., (LTFH) is a leading Non-Banking Financial Company (NBFC), offering a range of financial products and services. Headquartered in Mumbai, the Company has been rated 'AAA' -- the highest credit rating for NBFCs -- by four leading rating agencies. It has also received leadership scores and ratings by global and national Environmental, Social, and Governance (ESG) rating providers for its sustainability performance. The Company has been certified as a Great Place To Work® and has also won many prestigious awards for its flagship CSR project - "Digital Sakhi"- which focuses on women's empowerment and digital and financial inclusion. Under Right to Win, being in the 'right businesses' has helped the Company become one of the leading financiers in key Retail products. The Company is focused on creating a top-class, digitally enabled, Retail finance company as part of the Lakshya 2026 plan. The goal is to move the emphasis from product focus to customer focus and establish a robust Retail portfolio with quality assets, thus creating a Fintech@Scale while keeping ESG at the core. Fintech@Scale is one of the pillars of the Company's strategic roadmap - Lakshya 2026. The Company has around 2.6 Crore customer database, which is being leveraged to cross-sell, up-sell, and identify new customers.
Time of India
20 minutes ago
- Time of India
'Quick commerce ops not hurting beauty biz, its aiding personal care'
As vertical ecommerce players gear up to fight the quick commerce battle, Nykaa is taking a cautious approach toward the segment. After piloting quick-commerce platform Nykaa Now in select pin codes across Mumbai, Delhi and Bengaluru last year, the beauty and fashion etailer says its core beauty category isn't designed for 10-minute deliveries and much of the traction is coming from personal care products . "Nearly 80% of what we sell is beauty and 20% is personal care. Personal care is what's really picking up on quick commerce," said Adwaita Nayar, cofounder of Nykaa and executive director and CEO of Nykaa Fashion. "Our beauty business' gross merchandise value (GMV) has grown at 30% year-on-year for the last four quarters. So I don't think we're seeing an impact of quick commerce. It's hard to know what growth would have looked like without it, but we're where we expected to be." Beauty is a discovery and inspiration-led category, where there is a lot of width and depth that needs to be serviced. The nature of quick commerce doesn't typically support that kind of assortment, Nayar told ET in an interview. She clarified that the Nykaa Now list is curated separately with a focus on personal care and gifting rather than mirroring its primary ecommerce catalogue. The cautious tone contrasts with how horizontal quick commerce platforms like Blinkit, Swiggy 's Instamart, and Zepto have aggressively expanded into newer categories such as electronics and fashion and beauty products. These companies have said beauty and personal care is fastest growing on their platforms. Along with the bigger players like Myntra, several vertical quick commerce startups have emerged, backed by venture capital including the likes of Slikk and Blip in the fashion and apparel space. She did acknowledge a broader shift in delivery expectations. "It's not about 10 minutes, but people's expectations for delivery speed globally is just going up," she said. Even as discretionary spending slows in parts of India's consumer internet market, Nykaa's beauty business continues to grow at a healthy pace, Nayar said. For the quarter ended March, FSN E-Commerce , Nykaa's parent company, posted a net profit of Rs 19 crore, almost double that reported in the year earlier. Operating revenue rose 23.6% year-on-year to Rs 2,016.7 crore, led by gains in beauty and personal care. "We are aware of the broader slowdown. We benchmark ourselves against a lot of these companies and understand what their growth rates look like. But so far, Nykaa hasn't seen a similar impact," Nayar said. "Based on our estimates, the online beauty and personal care market grew in the low 20s, while we grew in the high 20s." In contrast, the fashion vertical, which Nayar has led over the last few years, is growing at a slower pace, though it has outpaced overall industry growth at 12% year-on-year GMV growth in FY25. "Actually, if you compare the net sales value (of beauty and fashion) it is a more apples-to-apples metric. The split is 75:25 in GMV terms and 80:20 in NSV." Her goal is not to make fashion bigger than beauty, but to build a strong and profitable business with a clearly defined niche. Nayar said Nykaa Fashion's positioning remains distinct from fast-fashion players like Shein, which has re-entered India through Reliance Industries .
