Latest news with #SHCIL
The Hindu
16-07-2025
- Business
- The Hindu
Karnataka comes up with draft rules for digital e-stamping
In a major change to the e-stamping system, the State government has notified draft rules to digitise the entire lifecycle of document stamping and registration, thereby making the entire process paperless. The new system will do away with the 0.65 % service charge levied by Stock Holding Corporation of India Ltd. (SHCIL) on the e-stamping transactions that added substantial cost to the process. The SHCIL had been appointed as an intermediary in 2008 for vending e-stamps. The draft of Karnataka Stamps (Digital e-stamp) Rules, 2025, was notified on July 14. Once implemented, it will not only replace traditional stamp papers with entirely digital stamping but also align with sustainability goals, making the process paperless. 'The new module is expected to be implemented before the month-end,' Revenue Department sources said. What it replaces The new module will replace the e-stamping system, which was launched in 2008 to prevent fraudulent practices in stamp paper-based registrations and transactions. Incidentally, the e-stamp was introduced as a fallout of the fake stamp paper racket run by counterfeiter Abdul Karim Telgi, whose alleged multi-thousand-crore worth fraud also shook Karnataka politics in the early 2000s. The department had also started work on e-stamping in 2006. Other benefits The new module will also encourage registration of approximately three crore optionally registrable documents that are processed annually. These documents are not in an audit trail, creating significant gaps in accountability and revenue tracking, according to a department note. Among other perceived benefits, which will be introduced in phases, are the template-based deed writing that enables users to draft deeds directly on the portal using customisable templates, ensuring standardisation and accuracy. This will also secure Aadhaar-based e-signatures of all the parties involved, ensuring authenticity and validity. While it allows direct payment integration with the treasury, the new system also secures digital storage of stamped documents, eliminating the need for physical storage.
Economic Times
01-07-2025
- Business
- Economic Times
NSE IPO: Why IFCI shares may be an unexpected beneficiary of much-awaited issue
IFCI is emerging as a potential major gainer from the much-awaited initial public offering (IPO) of the National Stock Exchange (NSE), which could unlock significant value for public sector undertakings. The development finance institution–turned–public sector NBFC, IFCI holds a 52.86% stake in Stock Holding Corporation of India (SHCIL)—the key link in IFCI's indirect exposure to NSE. Reflecting growing investor confidence, IFCI shares have surged about 47% over the past three months. ADVERTISEMENT SHCIL owns 4.4% of NSE, amounting to 11 crore shares. At the current unlisted price of Rs 2,285 per share, SHCIL's stake is valued at approximately Rs 25,000 crore—a valuation that could substantially boost IFCI's investment portfolio and market perception ahead of NSE's public debut. According to Motilal Oswal Private Wealth, the NSE is expected to receive a green light from SEBI to file its Draft Red Herring Prospectus (DRHP) by the end of July 2025. This follows a proposed settlement of long-pending co-location and dark fibre issues. Once SEBI issues the no-objection certificate, the DRHP filing process could take 4–5 months, followed by 2–3 months of regulatory review—putting NSE's listing timeline in Q4 of FY2026. On Tuesday, IFCI's stock price closed at around Rs 64.85, giving the company a market capitalisation of Rs 17,513 crore. Over the past 52 weeks, the stock has touched a high of Rs 91.40 and a low of Rs a valuation standpoint, IFCI's price-to-earnings (PE) ratio stands at 102.66, while its price-to-book (PB) ratio is 1.16. On the earnings front, IFCI posted a net profit of Rs 171 crore in the latest fiscal year (FY25). This marks a notable turnaround, as the company returned to profitability in FY24 after incurring losses for five consecutive fiscal years from FY19 to FY23. ADVERTISEMENT The anticipated listing will cap a nearly decade-long journey for NSE, which originally filed for an IPO in 2016, aiming to raise Rs 10,000 crore through a 22% stake sale by existing shareholders. Regulatory hurdles and pending disputes delayed the process, even as NSE shares remained in high demand in the grey market. In a significant move, NSE removed the ISIN freeze from March 24, 2025, enabling free trading of its unlisted shares and reducing the share transfer approval time from three months to just one day—further boosting private market liquidity, according to Motilal Oswal. NSE enters the IPO window from a position of financial strength. The exchange commands a dominant 94% share in cash equities, 99% in equity index futures, and 88% in equity options premium. ADVERTISEMENT In FY25, NSE reported a 17% YoY increase in total income to Rs 19,177 crore, with operating revenue up 16% at Rs 17,141 crore. Net profit surged 47% to Rs 12,188 crore, backed by strong operational metrics. The EBITDA margin stood at 74%, while return on equity hit 45%—indicating robust profitability and efficiency. In Q4 FY25 alone, the exchange reported a net profit of Rs 2,650 crore, despite a dip in revenues due to softer trading also declared a Rs 35 per share dividend, which included a special payout of Rs 11.46, adding further value for shareholders. ADVERTISEMENT Also read: NSE IPO: Sebi nod to file DRHP likely this month, listing expected in Q4, says Motilal As the NSE prepares for what could be one of India's most anticipated listings, IFCI's indirect stake via SHCIL places it in a unique position to benefit. With a sizeable exposure to NSE and recent signs of financial recovery, IFCI could emerge as a surprising but strategic bet for investors tracking the IPO play. (You can now subscribe to our ETMarkets WhatsApp channel)
