Tag: Indian Market
True Balance is seeing a lot of interest in its small loans, which has resulted in a 3x increase in revenue for the platform
True Balance’s revenue rose by 3X, and by November-December this calendar year, the company expects to be EBITDA favorable and break-even, he said. True Balance India is a completely owned subsidiary of Korea’s Balancehero Co Ltd, which owns and runs the ‘True Balance’ lending platform.
True Balance is an RBI-approved online service that arranges loans through True Credits, an RBI-licensed NBFC. Balancehero was launched in Korea in 2014 by Cheolwon ‘Charlie’ Lee and introduced the True Balance app in India in 2016 to help consumers handle their mobile recharge, bill payments, and balance check more conveniently. True Credits acquired their licence from the RBI in 2019, after which True Balance began financing.
Lee said the company is ready to listing in India and overseas when questioned about IPO ambitions. In 2021, the company is planning to treble its sales, which was USD 10 million in 2020. True Balance, which employs over 200 people, the majority of whom are located in India, is also trying to expand its workforce.
Lee found that the company has grown by 30 to 50 percent month over month, with the goal of concentrating on non-online payment and non-credit score customers.
Company profile
Develop a culture within the organisation that supports freedom of expression, fair opportunity for progress, open channels of communication, and complete transparency, all of which are guided by our 5 Core Values. Employees are at the centre of every decision, and this is what propels forwards.
Employees at Balancehero India are exposed to a neo-South Korean culture with simpler organisational structures, open office spaces, and a vibrant atmosphere that encourages everyone to contribute to the company’s ultimate goals. As a way of showing thanks where it is due, keep employees engaged and motivated through feedback and monthly prizes.
Souce: Economictimes
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Within months, sales had risen from 60 daily orders to over 1,000 orders. Nykaa capitalised on its success by tailoring products to Indian skin tones, skin types, and weather conditions. It introduced a wide range of nail colours, which presently number over 2,700.
It also introduced customers to make-up fundamentals like foundation, which it now provides in over 1,500 hues.
According to a copy of Nykaa’s draught red herring prospectus dated Monday, the company’s IPO will include a fresh issue of shares for up to 5.25 billion rupees ($70.63 million) and an offer for sale of up to 43.1 million shares.
Nykaa, which began selling cosmetics and grooming products on its website and apps in 2012, surged in popularity before expanding into fashion, pet care, and household supplies.
According to the prospectus, the company had 43.7 million downloads across all of its mobile applications as of March 31. It also has an offline presence in India, with 73 physical outlets spread over 38 cities.
Aside from TPG, the company has investors such as Fidelity Investments and Alia Bhatt, a well-known Indian film star. According to the prospectus, Nykaa would use the IPO proceeds to open new retail outlets, support capital expenditures, and repay debts.
Nykaa’s strategy has been to spend in technology, marketing, and product extensions in order to maintain its position.
Its online offerings, similar to Netflix Inc.’s movie recommendations, use algorithms to recommend things based on what users have already purchased.
(Source: Fact Set)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
On August 6, a day before issue opening, the corporation will open its anchor book, if any, for a day.
The public offering of 1,85,32,216 equity shares is a full offer for current selling shareholders to sell their shares. The total value of the offer is Rs 2,998.51 crore.
Highdell Investment 84,09,364 equity shares, MacRitchie Investments Pte Ltd 50,76,761 equity shares, and Springfield Venture International 17,65,309 equity shares will be sold through the IPO by CMDB II.
Bina Vinod Sanghi (jointly held with Vinay Vinod Sanghi) will sell 1,83,333 equity shares, Daniel Edward Neary will sell 70,000 equity shares, Shree Krishna Trust will sell 2,62,519 equity shares, Victor Anthony Perry III will sell 50,546 equity shares, and Vinay Vinod Sanghi (jointly held with Seena Vinod Sanghi) will sell 4,50,050 equity shares.
Investors can bid for as few as 9 equity shares and as many as 9 equity shares after that.
The company has set aside 50% of the overall offering for eligible institutional purchasers, 35% for retail investors, and the remaining 15% for non-institutional buyers.
With 34.44 percent of the company, Mauritius-based Highdell Investment is the largest shareholder, followed by MacRitchie Investments with 26.48 percent, CMDB II with 11.93 percent, Springfield Venture International with 7.09 percent, and Vinay Vinod Sanghi with 3.56 percent.
CarTrade is a multi-channel auto platform that covers a wide range of vehicle types and add-on services. CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto, and AutoBiz are some of the company’s brands.
The company uses these platforms to make it simple and efficient for new and used car buyers, dealerships, OEMs, and other businesses to buy and sell their automobiles.
(Source: Fact Set)
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.
Investing goal and benchmark
The fund’s primary goal is to “create capital growth through investments with a very well mix of small cap companies.” The NIFTY Small cap 250 Total Return Index is used as a benchmark.
Portfolio Structure & Asset Allocate
The fund’s asset allocation is roughly 95.85% in equities, 0.0 percent in bonds, and 4.15 percent in cash and cash equivalents. The top 10 equity holdings account for 43.41 percent of total assets, while the top three sectors account for 44.15 percent. The fund invests in a variety of market capitalisations, with roughly 1.41 percent in gigantic and big cap companies, 19.83 percent in mid-cap companies, and 78.76 percent in small cap companies.
Implications for Taxation
1. If units are surrendered within one year of purchase, gains are taxed at a rate of 15% (Short-term Capital Gains Tax – STCG).
2. Gains of up to Rs. 1 lakh accruing from units redeemed after one year of investment are free from tax in a financial year.
3. Profits of at most Rs. 1 lakh would be subject to a 10% tax rate (Long-term Capital Gain Tax – LTCG).
4. Dividend income from this fund will be assigned to an investor’s income and taxed as per to his or her tax slabs for Dividend Distribution Tax.
5. In addition, for dividend income in excess of Rs 5,000 in a financial year, the fund house is required to deduct a TDS of 10%.
Source: Economic times
General Advice Warning
Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.