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Mint
5 days ago
- Business
- Mint
Upcoming IPO: Hero FinCorp gets Sebi approval to launch ₹3,668 crore IPO
Hero FinCorp, the financial services arm of two-wheeler maker Hero MotoCorp, has been granted approval by Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO) valued at ₹ 3,668 crore, as indicated in a notification from the markets regulator on Wednesday, according to PTI report. Hero FinCorp is a non-banking financial company (NBFC) that provides a wide range of financial products primarily aimed at retail customers and micro, small, and medium enterprises (MSMEs) in India. As of March 2024, the NBFC had total assets under management (AUM) amounting to ₹ 51,821 crore, with retail and MSME lending segments accounting for 65 percent and 21 percent, respectively. Since its establishment in 1991, the company has expanded its customer base to 1.18 crore as of March 2024. Hero FinCorp IPO consists of a new issuance of equity shares valued at ₹ 2,100 crore along with an Offer For Sale (OFS) of ₹ 1,568 crore from investor shareholders, as stated in the Draft Red Herring Prospectus (DRHP). The shareholders participating in the OFS include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (represented by Vikas Srivastava), and Otter Ltd. According to recent updates, Hero FinCorp, which submitted its initial IPO documents to Sebi in August, received its observations on May 22. In the terminology used by Sebi, receiving observations signifies approval to proceed with the public offering. As indicated in the draft documents, the funds raised from the new issue will be utilized to bolster the company's capital to accommodate upcoming financing requirements for lending activities. The book running lead managers for the anticipated IPO are JM Financial Ltd, BofA Securities India Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd, Jefferies India Private Ltd, and SBI Capital Markets Ltd.
New Indian Express
24-05-2025
- Politics
- New Indian Express
‘Powerful Congress leader' tried to implicate Dr Parameshwara in gold smuggling case: Minister HD Kumaraswamy
BENGALURU, VIJAYAPURA: Union Minister For Steel and Heavy Industries HD Kumaraswamy on Friday alleged that Karnataka Home Minister Dr G Parameshwara was targeted by one of his cabinet colleagues in the Ranya Rao gold smuggling case. 'A powerful Congress leader is behind the conspiracy and it is a plot to unseat Chief Minister Siddaramaiah and seize the CM's post', he alleged while addressing reporters in New Delhi. Kumaraswamy said the 'powerful leader' tipped off customs officers helping them to arrest the actress when she arrived at the Bengaluru International Airport with the smuggled gold. The 'powerful leader' wished to implicate Parameshwara in the case as the latter too was emerging as an aspirant for the CM post, according to Kumaraswamy. The Enforcement Directorate, which is investigating the gold smuggling case, had recently raided the educational institutions belonging to Parameshwara. Meanwhile, DyCM DK Shivakumar dismissed the allegations and questioned Kumaraswamy's credibility and mental health. 'Another name for chronic lying is Kumaraswamy,' Shivakumar said on Friday during a media interaction in Kolhara, Vijayapura district. 'He has lost his mind. His mental health must have deteriorated,' he remarked. But Kumaraswamy alleged that Parameshwara is being targeted in the gold smuggling case as part of an internal power struggle within the Congress party. 'The real motive is to sideline the Dalit leadership and elevate a rival leader to the CM's post', he added. He noted Parameshwara's efforts to organise a Dalit convention and engage with the national leadership in order to stake claim for the CM post may have triggered the backlash from the 'powerful leader'.Kumaraswamy referred to earlier statements made by Cooperation Minister Rajanna in the State Assembly, which hinted at the existence of a politically influential figure involved in surveillance and manipulation tactics. Kumaraswamy also raised questions about how a Congress insider knew that a woman was smuggling gold from Dubai and the information that was eventually leaked to enforcement authorities. 'Was the Intelligence department, which reports directly to Chief Minister Siddaramaiah, truly unaware of these developments?', he asked.
Time of India
23-05-2025
- Business
- Time of India
Kanodia Cement files draft IPO papers with Sebi
NEW DELHI: Cement manufacturing company Kanodia Cement has filed preliminary papers with the markets regulator Sebi, seeking its approval to float an Initial Public Offering (IPO). The IPO is entirely an Offer For Sale (OFS) of 1.49 crore shares by promoters and an individual shareholder, with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Thursday. Since the public issue is completely an OFS, the company will not receive any funds from the issue and entire proceeds will go to selling shareholders. Kanodia Cement is a cement manufacturing company operating through Satellite Grinding Units (SGUs) in the states of Uttar Pradesh and Bihar, specialising in the production of blended cement such as Portland Pozzolana Cement and Composite Cement. It operates through a unique combination of business-to-business contract manufacturing for cement brands (Contract Manufacturing Model); and production and marketing of its own consumer brands (Business-to-Consumer Model). As on December 31, 2024, the company operate five satellite grinding units with an aggregate cement manufacturing capacity of 3.54 MTPA. The company's installed cement grinding capacity grew at a CAGR of 22.12 per cent, compared to the industry average of 7.31 per cent and a peer average of 9.64 per cent, from fiscal 2014 to fiscal 2024, making it as one of the fastest growing cement manufacturers in India in terms of increase in installed cement grinding capacity during the period, according to a report by Crisil. On the financial front, the company posted a profit of Rs 9.8 crore and a total income of Rs 732 crore for the nine months ended December 31, 2024. Anand Rathi Advisors, IIFL Capital Services and Oneview Corporate Advisors are the book-running lead managers to the issue.
Korea Herald
23-05-2025
- Business
- Korea Herald
Great Place To Work Announces the Best Workplaces in Vietnam™ 2025 Representing 117,000 Employee Experiences
HO CHI MINH CITY, Vietnam, May 22, 2025 /PRNewswire/ -- Great Place To Work® ASEAN and ANZ announced its Best Workplaces in Vietnam™ for 2025. This year's list honors exceptional organizations that are leading change by putting people first. These trailblazers demonstrate that trust is the cornerstone of a great workplace - enabling them to adapt, grow, and lead through uncertainty. By fostering cultures rooted in trust and inclusion, these companies set the standard for workplace excellence, even in times of rapid change and volatility. The list is based on confidential survey data from over 113,000 employees, representing the experiences of nearly 117,000 individuals working at companies across Vietnam. Companies are also evaluated on how well they are creating a For All™ workplace experience, where all employees feel included no matter who they are or what they do. Mr. Roland Wee, Board Chair of Great Place To Work ASEAN and ANZ, shared that Vietnam is facing significant uncertainty due to both internal and external factors over the next 15 years. Internally, a rapidly evolving demographic profile leading to the peaking of the workforce by 2040 (according to UN estimates) is expected to be coupled with a sharp rise in the elderly population into 2060. Externally, geopolitical uncertainty could threaten Vietnam's position as a major exporter to the US. In addition, the pace of technological change led by the implementation of AI could fundamentally change the construct of Vietnam's workforce. "However, when leaders take the initiative to build trust with their employees, companies can overcome these challenges together," said Mr. Roland Wee. For the second consecutive year, Syngenta Vietnam has been named among the Best Workplaces in Vietnam in the Medium category. With a global history of over 250 years and more than 30 years of operations in Vietnam, the company continues to build a strong and enduring legacy. "In the context of the global economy facing numerous challenges, the agricultural sector is also experiencing many difficulties, and Syngenta Vietnam is not exempt from this turbulent situation. Nevertheless, the company continued to achieve notable success in both business operations and CSR/ESG initiatives for community benefits, contributing to building prosperous rural development. The most important factor helping us achieve these accomplishments is our human resources and corporate culture, which have been carefully cultivated over more than three decades. "At Syngenta Vietnam, we focus on advanced human resource policies. From in-depth training programs, diverse career development opportunities, to team-building activities, a safe and healthy work environment, and attractive benefits, Syngenta Vietnam has truly become a place where each member feels supported and has many opportunities to develop. We will continue to innovate, listen to employee feedback, and constantly improve to ensure Syngenta Vietnam remains an ideal workplace for everyone," said Mr. Tran Thanh Vu, General Director of Syngenta Vietnam. The Best Workplaces in Vietnam 2025 is published here: Best Workplaces in Vietnam 2025 About the Best Workplaces in Vietnam 202 5 List The Best Workplaces in Vietnam list is determined based on employee feedback gathered through the proprietary Trust Index™ survey, developed from over 30 years of research. The survey measures the employee experience across three key relationships: with their leaders, with colleagues and with their work. These insights help predict talent retention, organizational agility, and overall business success. This list uses the same rigorous assessment standards as the Fortune 100 Best Companies to Work For® list in the U.S., which has been published annually since 1998. To be considered, companies must first earn Great Place To Work® Certification™, based on in-depth analysis of employee feedback. Then, to be selected among the 25 Best Workplaces™, organizations must demonstrate consistent practices and internal processes—from leadership to frontline employees—aligned with the vision of building a Great Place To Work For All™. This methodology is unique in that certification is based entirely on feedback from current employees, regardless of who they are or what role they hold. The survey consists of 60 scaled statements and two open-ended questions, with all responses collected confidentially. About Great Place To Work As the global authority on workplace culture, Great Place To Work brings 30 years of groundbreaking research and data to help every workplace become a great place to work for all. Their proprietary platform and For All Model help companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified™ or receiving recognition on a coveted Best Workplaces List.
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Business Standard
23-05-2025
- Business
- Business Standard
Kanodia Cement files papers with Sebi seeking approval to float IPO
Cement manufacturing company Kanodia Cement has filed preliminary papers with the markets regulator Sebi, seeking its approval to float an Initial Public Offering (IPO). The IPO is entirely an Offer For Sale (OFS) of 1.49 crore shares by promoters and an individual shareholder, with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Thursday. Since the public issue is completely an OFS, the company will not receive any funds from the issue and entire proceeds will go to selling shareholders. Kanodia Cement is a cement manufacturing company operating through Satellite Grinding Units (SGUs) in the states of Uttar Pradesh and Bihar, specialising in the production of blended cement such as Portland Pozzolana Cement and Composite Cement. It operates through a unique combination of business-to-business contract manufacturing for cement brands (Contract Manufacturing Model); and production and marketing of its own consumer brands (Business-to-Consumer Model). As on December 31, 2024, the company operate five satellite grinding units with an aggregate cement manufacturing capacity of 3.54 MTPA. The company's installed cement grinding capacity grew at a CAGR of 22.12 per cent, compared to the industry average of 7.31 per cent and a peer average of 9.64 per cent, from fiscal 2014 to fiscal 2024, making it as one of the fastest growing cement manufacturers in India in terms of increase in installed cement grinding capacity during the period, according to a report by Crisil. On the financial front, the company posted a profit of Rs 9.8 crore and a total income of Rs 732 crore for the nine months ended December 31, 2024. Anand Rathi Advisors, IIFL Capital Services and Oneview Corporate Advisors are the book-running lead managers to the issue. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
