Latest news with #SEZ
Mint
11 hours ago
- Business
- Mint
NSDL IPO Day 1 Live: Issue set to kick off amid strong GMP trend. Should you apply?
30 Jul 2025, 11:11 AM IST NSDL IPO Live: Here's a look at NSDL's revenue model. The depository earns revenue from various sources. Take a look: Custody Fees: NSDL charges issuers and other corporate clients custody fees for admitting their securities to the platform and for offering demat facilities to shareholders. The fee is calculated at ₹ 11 per folio, subject to a minimum amount based on the nominal value slab of admitted securities. 11 per folio, subject to a minimum amount based on the nominal value slab of admitted securities. Registration Fees: NSDL charges registration fees to issuers and RTAs for registering on the platform and for availing associated services. Transaction Fees: NSDL charges transaction fees to corporate clients and depository participants for transactions such as securities settlements and corporate actions carried out through the depository system. Transaction fees also include charges related to e-voting, CAS facilities, pledge fees, margin pledge fees, non-disposal undertaking fees, fees for digital contract notes, SEZ transaction fees, KRA upload/download, and insurance policy credits. Software License Fees: Depository participants registered with NSDL are required to implement the necessary technology infrastructure and are charged annual software license fees for the software provided to ensure operational efficiency. Communication Fees: NSDL charges annual communication fees to depository participants based on connectivity and bandwidth utilization related to their operations. Income from Banking Services: This includes revenue generated by their subsidiary, NPBL, from banking services such as interchange fees for transactions via AePS, micro-ATMs, and domestic money transfers, issuance of prepaid cards, account opening fees, and commissions on cash management services. Other Operating Income: This includes fees for executing changes in RTAs and training fees charged to depository participants for training on their depository participant management. 30 Jul 2025, 10:38 AM IST NSDL IPO Day 1 Live: NSDL forms a critical backbone of India's capital market infrastructure with wide network penetration and regulatory significance. Its annuity-like revenue model, diversified service suite, and leadership in depository operations offer scalability and resilience. The IPO is priced at a P/E of 46.62x and P/B of 7.98x, which appears attractive compared to CDSL's P/E of 60.43x and P/B of 18.08x, especially considering NSDL's superior assets under custody and service reach. With rising demat penetration and increasing financialization of the economy, NSDL is well-positioned for long-term growth. We recommend a SUBSCRIBE rating for investors with a medium to long-term investment horizon. – Views by Canara Bank Securities 30 Jul 2025, 10:23 AM IST NSDL IPO Day 1 Live: NSDL IPO was booked 12% so far in the first 2 minutes of the bidding process. NII portion was booked 20%, retail portion 15% and employee portion 18%. QIB segment did not receive any bids yet. 30 Jul 2025, 10:04 AM IST NSDL IPO Day 1 Live: NSDL IPO opened for subscription for the first day on Wednesday. Investors can apply for the issue till Friday. The company is looking to raise over ₹ 4,000 crore. 30 Jul 2025, 09:50 AM IST NSDL IPO Day 1 Live: National Securities Depository Ltd (NSDL) is a SEBI-registered Market Infrastructure Institution (MII), offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, the company pioneered the dematerialization of securities in India in November 1996. As of March 31, 2025, NSDL is the largest depository in India in terms of: Number of issuers, Number of active instruments, Market share in demat value of settlement volume and Value of assets held under custody. Additionally, as of March 31, 2025, NSDL has a network of 65,391 depository participants' service centres, compared to 18,918 such centers with CDSL. 30 Jul 2025, 09:29 AM IST NSDL IPO Day 1 Live: National Securities Depository Limited (NSDL) will maintain its focus on unlocking growth opportunities and deepening market reach by utilizing its core competencies. The company plans to strengthen and modernize its IT infrastructure to improve operational efficiency, elevate service standards, and bolster resilience, said Anand Rathi. Additionally, it aims to broaden its range of services, enhance its database management capabilities, and expand the market share of its payments bank division, added the brokerage. 'At the upper price band, the company is valued at a P/E of 46.6x based on its FY25 earnings, with a market capitalization of ₹ 160,000 million and a return on net worth of 17.1% post issue of equity shares. We believe that the IPO is fairly priced and recommend a 'Subscribe' rating to the IPO,' it said. 30 Jul 2025, 09:05 AM IST The NSDL IPO comprises a complete sale of up to 5.01 crore equity shares from current shareholders. IDBI Bank intends to offload as many as 2.22 crore shares, while the National Stock Exchange (NSE) plans to offer up to 1.80 crore shares. State Bank of India (SBI) aims to sell up to 40 lakh shares, HDFC Bank will offer up to 20 lakh shares, and Union Bank of India will put forth 5 lakh shares. Furthermore, the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will provide up to 34.15 lakh shares. All of the shares carry a face value of ₹ 2 each. The book-running lead managers for the IPO consist of ICICI Securities, Axis Capital, HSBC Securities, IDBI Capital, Motilal Oswal, and SBI Caps. 30 Jul 2025, 09:01 AM IST NSDL IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved up to 85,000 equity shares. A discount of ₹ 76 per equity share is being offered to eligible employee in the employee reservation portion. 30 Jul 2025, 08:52 AM IST NSDL raised more than ₹ 1,201 crore from institutional investors on Tuesday, just a day before opening its initial share-sale for public subscriptions. The anchor segment attracted involvement from both domestic and international institutional investors, such as Life Insurance Corporation of India (LIC), Smallcap World Fund Inc, SBI Mutual Fund (MF), Fidelity Funds, and Nippon India MF, as stated in a bulletin posted on the BSE's website. SBI Life Insurance Company and HDFC Life Insurance Company, along with the Abu Dhabi Investment Authority, Ashoka WhiteOak India Opportunities Fund, ICICI Prudential MF, and HDFC MF also participated as investors. Among these contributors, LIC emerged as the top investor, acquiring nearly 18 lakh shares, which represents 11.99 percent of the total anchor book, for a sum of ₹ 144 crore. As per the bulletin, NSDL has distributed over 1.5 crore equity shares to 61 funds at a price of ₹ 800 each, leading to a total transaction volume of ₹ 1,201.4 crore. 30 Jul 2025, 08:50 AM IST NSDL IPO GMP is +126. This indicates NSDL share price was trading at a premium of ₹ 126 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of NSDL share price was indicated at ₹ 926 apiece, which is 15.75% higher than the IPO price of ₹ 800. According to the grey market activities over the past 26 sessions, today's IPO GMP is on the rise and is anticipated to have a robust listing. The minimum GMP recorded is ₹ 0.00, whereas the maximum GMP stands at ₹ 167, as per insights from experts at 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Straits Times
13 hours ago
- Business
- New Straits Times
No immediate plans for Malaysia-Thailand border economic zones
KUALA LUMPUR: The government currently has no specific plans to establish a Special Economic Zone (SEZ) or Financial Free Zone (FFZ) along the Malaysia-Thailand border. Acting Economy Minister Datuk Seri Amir Hamzah Azizan said in a written parliamentary reply that the ministry is open to considering such a proposal in the future if a need arises and if it brings mutual benefits to both countries. "At present, there are no specific plans to establish a Special Economic Zone or Financial Free Zone along the Malaysia-Thailand border. "However, the government, through the Economy Ministry, is open to considering and further evaluating the proposal to establish a Border Special Economic Zone in the future, should there be a need and if it brings mutual benefits to both countries." He was responding to a question from Rushdan Rusmi (PN-Padang Besar), who had enquired about plans to establish Padang Besar as an SEZ or FFZ to spur cross-border investment and trade. Amir Hamzah said that existing regional cooperation platforms include the Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT) and the Malaysia–Thailand Joint Development Strategy for Development Areas (JDS). He added that in efforts to boost the economy of border areas, the Economy Ministry, through its border development initiative, has identified and developed border economic areas in Kedah, Kelantan, Perlis, and Perak. To date, various initiatives have been implemented, including the Kedah Rubber City (KRC), eight Border Special Economic Zones, and the Northern Corridor Highway.
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Business Standard
a day ago
- Business
- Business Standard
Samsung's PLI journey ends. Will India's production incentive boom hold?
Samsung has officially completed its five-year term under India's Production-Linked Incentive (PLI) scheme, filing a final incentive claim of ₹1,000–1,200 crore for the financial year 2024-25 (FY25), according to a report by The Economic Times. The company reported incremental production of ₹25,000–30,000 crore in its final year, making it the first smartphone maker to wrap up the full PLI cycle. The journey began in FY2021, when Samsung was the only global firm to meet the first-year targets, earning ₹500 crore after government review (against an initial claim of ₹900 crore). It missed the second year but stayed largely on course afterwards. The question now is: What happens after the money stops? Samsung's exit is a test case for the PLI model. With benefits ending, the spotlight shifts to whether companies will maintain capacity and output, or quietly scale down. Industry watchers are already tracking Apple's contract manufacturers and domestic firms such as Dixon, whose PLI terms will phase out in the next 1-2 years. The stakes are high. PLI disbursements for electronics manufacturing and IT hardware are projected to reach ₹9,000 crore in FY26, with overall disbursements increasing to ₹16,000 crore, marking the largest annual outlay thus far. In comparison, in FY25, the government disbursed a total of ₹10,114 crore. PLI firms in the electronics sector received ₹5,732 crore, while the pharmaceutical sector received ₹2,328 crore. Why it matters The PLI scheme is India's most ambitious industrial policy since the Special Economic Zone (SEZ) boom. Launched in 2020, it covers 14 critical sectors, with a total outlay of nearly ₹2 trillion. The idea: reward companies that grow production in India with direct cash incentives tied to incremental output. The early signs have been promising. In mobile phones alone, exports jumped to over ₹1.2 trillion in FY24 from ₹27,000 crore in FY20. The scheme has drawn marquee names including Apple, Samsung, and Foxconn deeper into India's supply chain. But as the incentive window closes for the first wave of applicants, a risk looms. What if firms front-load investment just to qualify for payouts, and reduce output, lay off workers, or even exit once the rewards stop? In 2023, former Reserve Bank of India Governor Raghuram Rajan argued that the PLI scheme for mobile phone manufacturing is not yielding real benefits. He said most components are still imported, so actual value addition in India is low. He questioned whether the subsidies and tax breaks outweigh the economic gains, pointing out that net imports have risen, making India more dependent on foreign parts. Effectively comparing the scheme to a bad loan. Then IT Minister Rajeev Chandrasekhar rebuked criticism, stating that value addition takes time, and early signs—including rising exports, job growth, and investments by major companies—showed the strategy was paying off. Flashback: SEZs, M-SIPS, and other incentive highs that faded India has been here before. M-SIPS (2012–2018) Before PLI, the Modified Special Incentive Package Scheme (M-SIPS) offered capital subsidies of 20–25 per cent to electronics firms setting up manufacturing units. The goal was similar: to make India self-reliant in electronics. By the time it shut in December 2018, the scheme had approved over ₹10,000 crore in incentives. But much of that investment remained on paper. Companies like Havells, Daikin, Orient Cable, Nidec, and Genus Power set up units, especially in Rajasthan, where ₹143 crore was disbursed. The 2000s saw a wave of SEZs, boosted by tax holidays and easy land. But after the Minimum Alternate Tax (MAT) and Goods and Services Tax reforms eroded benefits, interest dried up. Many SEZs today are underutilised, repurposed, or idle. Power subsidies: UMPPs and stranded assets Ultra Mega Power Projects once promised 4,000+ MW each. Many were delayed, overleveraged, or abandoned, leaving banks and states with stranded assets. Textile incentives and industrial parks Multiple states launched textile parks with land, power, and capex subsidies. Many of them failed to attract tenants or ran below capacity, often due to poor logistics or a lack of skilled labour. The recurring theme seems to be one of generous incentives that promote short-term activity but don't often create lasting ecosystems. The fiscal risk: Can the Centre keep footing the bill? PLI disbursals are just beginning to peak. In FY26 alone, government estimates suggest that up to ₹16,000 crore could be paid out, with ₹9,000 crore allocated towards electronics. The fiscal questions raised now: Is India getting value for money? In some sectors, imported components still dominate. In other words, job creation has not met expectations. What's the output-to-subsidy ratio? For every ₹1,000 crore disbursed, how much actual value is added in India? Are clawbacks being enforced? If firms miss targets—as Samsung did in Year 2—do they return incentives? Are penalties applied uniformly? Can India afford to sustain this? With rising welfare outlays, defence spending, and weak private capex, the Centre's fiscal room is shrinking. As more PLI sectors mature, annual payouts will grow, possibly testing the limits of political and fiscal tolerance. The big picture As Samsung's PLI wraps up, India is at a critical juncture on how it wants to proceed with its incentive scheme. The next two years will be crucial. If companies scale up without further payouts, the model works. If they stall, the scheme risks becoming yet another high-cost gamble with low long-term returns.
The Hindu
4 days ago
- Business
- The Hindu
KGiSL SEZ registers 25 % growth in exports last fiscal
KGiSL's Special Economic Zone (SEZ) for Electronic Hardware and Software, including ITeS, in Coimbatore saw 25 % year-on-year growth in exports in 2024-2025. The SEZ registered ₹ 6,769.97 crores worth exports last financial year, which is 65 % of all IT-SEZ exports from Coimbatore. The total exports from the KGiSL SEZ since 2008-2009 has touched ₹50,000 crore. According to Ashok Bakthavathsalam, founder of the KGiSL Group, apart from three anchor companies (Robert Bosch, Cognizant, and NTT Data), the SEZ has 38 IT and ITeS companies, many of which focus on innovation. Currently, the zone provides direct employment to approximately 34,717 professionals and along with indirect employment, the total employment generated by the SEZ has crossed 50,000. The KGISL SEZ is poised for expansion with the development of Wynfra CyberCity, which will span 1.9 million that will be LEED-certified andf wellness-certified. About three lakh of this space, coming up at an investment of ₹260 crore in the first phase, will be operational by September next year. The total investment in the project is estimated to be ₹900 crore to ₹1,100 crore. 'This new addition is specifically designed to cater to international companies looking to establish Global Capability Centres (GCCs) in Coimbatore,' a press release from the KGiSL SEZ said.
Mint
5 days ago
- Business
- Mint
WOM India's Financial Systems Recognised for Industry Excellence with CMA Award
Pune, July 25, 2025 — The finance function at Worldwide Oilfield Machine Pvt. Ltd. (WOM India), a critical component of the global WOM Group's engineering operations, has been recognised by the Institute of Cost Accountants of India (WIRC) for its enterprise-wide financial practices. WIRC has conferred its prestigious 'CMA Achievers in Industry' award on the company's Chief Financial Officer, Mangesh Annachhatre, recognising the company's disciplined approach to enterprise-wide controllership, regulatory compliance, and export-oriented financial governance. The award was presented by CMA WIRC President Arindam Goswami, who praised Annachhatre's 'laser-focused accountability and strategic foresight' in a note accompanying the award. Annachhatre, who has led the finance function at WOM India for over a decade, accepted the honour, noting its relevance to the company's financial ethos. 'This award renews my resolve to push financial boundaries, not just for our company but for India's wider manufacturing ecosystem,' he said. WOM India gets recognition of Financial Leadership WOM India, based in Pune, designs and manufactures high-performance pressure control equipment—such as gate valves and choke valves—for the global oil and gas sector. Its facility supports vertically integrated operations from raw material processing to assembly and testing, enabling end-to-end control over product quality and delivery timelines. This structure also demands precision in financial planning, inventory management, and export compliance, particularly under India's SEZ and EOU regulatory regimes. A key pillar of WOM India's success has been its ability to implement forward-looking financial frameworks. The finance team introduced disciplined working capital models to help the company weather currency volatility and commodity price shifts. Regular inventory reconciliations and export receivables hedging mechanisms have helped reduce leakage and protect the company's global revenue streams. At WOM India, financial discipline goes hand in hand with strategic awareness. The company conducts internal workshops focused on areas like risk management and long-term planning, helping the finance team stay aligned with evolving operational demands. These sessions reflect a broader philosophy within the organisation where financial oversight is seen not as a constraint, but as a contributor to innovation and ethical growth. 'Finance should power innovation, not trail it,' Annachhatre often tells his team, a mindset that has shaped the company's approach to ethics and controllership. At WOM India, financial governance is seen not as a back-end control, but as a foundational element that enables transparency across vendor onboarding, cross-border shipments, and tax frameworks such as GST and FTP incentives. The award also arrives at a time when global supply chains are under increased scrutiny. With its focus on vertical integration, regulatory discipline, and cross-functional alignment, WOM India continues to demonstrate that financial stewardship is not a support act, it's a competitive advantage. The company remains an integral part of WOM Group's international operations, which are headquartered in Houston, Texas. Its Pune facility plays a critical role in the group's global supply network by delivering pressure-control equipment used in some of the most demanding upstream energy environments around the world. For more information, visit Note to the Reader: This article is part of Mint's consumer connect initiative and has been independently created by the brand. Mint assumes no editorial responsibility for the content.
