TVF raises $2 mn debt from BlackSoil

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Video-on-demand platform The Viral Fever (TVF) on Wednesday said it has raised $2 million (about ₹14.8 crore) debt from Mumbai-based venture debt firm BlackSoil.

The company will be using the funds for its working capital requirements on production of web-series and other content for its clients that include both brands and OTT platforms, a statement said.

BlackSoil had earlier provided venture debt to TVF in 2019, and they are renewing their partnership in 2021, it added.

Founded in 2010, TVF produces branded content for its own channels and OTT giants like Netflix, Amazon Prime, Sony, etc.

The company is focussed on solving the lack of new generation content for India’s young teenage audience. It has produced hits like TVF Pitchers, Permanent Roommates, Yeh Meri Family, and the more recent Aspirants and Kota Factory amongst others.

“We have a great pipeline of shows for the next couple of years to meet the increasing demand of quality content from the audiences. This debt raise is going to help us deliver this pipeline and fully take advantage of the OTT boom. We are extremely excited to renew our partnership with BlackSoil,” TVF President Vijay Koshy said.

Indian video OTT market

The Indian video OTT market in India is expected to grow from $1.5 billion in 2021 to $4 billion in 2025 and further to $15 billion by 2030.

“TVF has consistently delivered hits over the last decade by producing relatable content with relatable characters for India’s youth. The dearth of quality content and its increasing demand because of the OTT boom will further ensure the continuing success of TVF and its shows. It is our pleasure to be able to support them in their journey,” BlackSoil co-founder Ankur Bansal said.

BlackSoil has deployed over ₹2,500 crore across more than 140 deals. Some of its investments include Infra.Market, Zetwerk, Udaan, Spinny, Furlenco, Purplle and others.

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Brokerages Recommend Subscribing To Latent View Analytics IPO

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Investment

oi-Roshni Agarwal

|

After record gains on the first day of Nykaa listing, investors’ interest in the flourishing IPO market would have increased bountifully. So, here we provide a take on the latest Latent View Analytics IPO that has opened for public subscription today:

Brokerages Recommend Subscribing To Latent View Analytics IPO

Brokerages Recommend Subscribing To Latent View Analytics IPO

About Latent View:

The new age business primarily offering data and analytics consulting, business analytics, advanced predictive analytics, data engineering and digital solutions. The company’s clientele include bluechip enterprises in the area of technology, banking, insurance and financial services, consumer packaged goods and retail as well as other industries.

Issue details:

The Rs. 600 crore IPO includes fresh equity issuance worth Rs. 474 crore together with an OFS of Rs. 126 crore. The company plans to use the proceeds of the IPO for financing inorganic growth initiatives, working capital requirements of the subsidiary as well as increase investment in subsidiaries to augment their capital base. The company has fixed a price band of Rs 190-197 per share for this IPO.

Analysts’ give thumbs up to the issue of Latent View Analytics

The issue will serve as a good bet both for good listing gains as well as for long term prospects.”Good track record of promoters with no litigations, new age business with a strong growth outlook and strong financial and profitability works well for this IPO,” market veteran shares his view on the IPO. The negative though is the small company size with revenue of just Rs. 300 crore.

“We feel in future there will be a great demand for pure play analytics company like Latent View, which is engaged in providing analytics services, offering an in-depth understanding of solving complex customer problems and assists business entities in making an informed decision. Thus considering the bright future and attractive valuations, we assign a “SUBSCRIBE” rating for the issue,” said Choice Broking in a report.

Various brokerages’ take on Latent View Analytics IPO

Brokerage Recommendation
Choice Broking Subscribe
Reliance Securities Subscribe
TopShare Brokers Subscribe
Religare Subscribe

Story first published: Wednesday, November 10, 2021, 13:53 [IST]



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Should You Choose LIC’s Bhagya Lakshmi Plan, A Popular Micro Insurance Product

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About LIC’s Bhagya Lakshmi Plan

LIC is the public insurer Corporation of India, which is offering the Bhagya Lakshmi Plan. It is a non-linked, non-participating, micro-insurance policy. Micro-insurance is known as insurances that offer “coverage to low-income households or to individuals who have little savings”.

Policy Returns and Benefits

Policy Returns and Benefits

LIC Bhagya Lakshmi, the limited premium paying term plan offers a return of 110% of the total amount of premiums payable on maturity, on Life Assured surviving to the end of the policy term. The premium referred above shall not include any taxes and extra premium if any. On the policy holder’s death before maturity, ‘Sum Assured on Death’ will be paid; where ‘Sum Assured on Death’ is defined as the highest of 7 times of annualized premium or 105% of total premiums paid up to the date of death or Sum Assured. The premiums, however, will not include any taxes.

Eligibility Criteria

Eligibility Criteria

For the LIC Bhagya Lakshmi plan, the minimum entry age is 18 years, while the maximum entry age is 42 years for Premium Paying Term 5 years, and the maximum entry age is 55 years for Premium Paying Term 6 to 13 years, which is subject to Maximum Maturity Age of 65 years. The maximum maturity age for the LIC Bhagya Lakshmi plan is 65 years, which will depend on the Premium Paying Term.

Sum Assured and Premium Paying Term

Sum Assured and Premium Paying Term

The Minimum Sum Assured is Rs. 20,000, and the Maximum Sum Assured is Rs. 50,000. The Sum Assured is calculated in multiples of Rs. 1,000. The Minimum Premium Paying Term for the policy is 5 years, while the Maximum Premium Paying Term is 13 years. The Policy Term is counted as Premium Paying Term + 2 years. According to the policy term, “Premiums can be paid regularly at yearly, half-yearly, quarterly or monthly mode during the premium paying term of the policy”.

Grace period

Grace period

Additionally, a grace period of 30 days will be allowed for payment of monthly premiums and 60 days for other modes of premium payments from the date of the first unpaid premium. LIC informs, “If less than one year’s premiums have been paid and any subsequent premium be not duly paid, all the benefits under the policy shall cease after the expiry of grace period from the date of first unpaid premium and nothing shall be payable.”



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Reserve Bank of India – Press Releases

Press Releases

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I. T-Bill 91 days 182 days 364 days
II. Total Face Value Notified ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore
III. Cut-off Price and Implicit Yield at Cut-Off Price 99.1254
(YTM: 3.5390%)		 98.1308
(YTM: 3.8201%)		 96.1000
(YTM: 4.0694%)
IV. Total Face Value Accepted ₹10,000 Crore ₹3,000 Crore ₹7,000 Crore

Ajit Prasad         
Director (Communications)

Press Release: 2021-2022/1172

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Troo Good raises ₹55 cr funding from OAKS Asset Management

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Millet-based snacking company Troo Good has raised ₹55 crore in a funding round led by OAKS Asset Management.

The Hyderabad-headquartered company will use the funds raised in the Series A funding round to expand their business from Andhra Pradesh and Telangana into several other States across India, as well as achieve their mission of serving nutritious and affordable snacks to 1 crore children every day, a company statement said.

“We have come a long way in creating a robust pipeline of products and corresponding expertise and are now looking to scale rapidly. We are delighted to have OAKS on board and backing us for this next exciting phase of the Troo Good journey,” it said.

“We expect to have a significant ramp-up in the millet based snacking segment over the next decade and Troo Good is ideally positioned to be at the forefront of this wave,” said Raju Bhupathi, Founder of Troo Good.

Customer base

Currently, the company serves nearly 10 lakh children every day and expects this number to go up significantly as they open new markets.

“We are convinced that Troo Good will create an extraordinary pan-India nutritional food brand over the next few years. We are excited about partnering with Troo Good on this journey over the next few years,” Vishal Ootam, CEO and Founder at OAKS Asset Management said.

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This Automobile Stock Has A “BUY” Call From Motilal Oswal For A Gain of +29%

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Company’s performance

According to the research report of the brokerage “Mahindra & Mahindra’s standalone revenue/adjusted PAT grew 15.5%/31% YoY and 13%/81% QoQ to INR133b/INR16.9b, while EBITDA declined by 17% YoY (+2% QoQ) to INR 16.6b. Revenue/EBITDA/adjusted PAT grew 46%/28%/ 97% in 1HFY22 and volumes grew 3% YoY and 2% QoQ. The net realization grew 12% YoY and 11% QoQ to INR698k/unit (est. INR640.6k), driven by ~13% YoY and 12% QoQ growth in Auto segment realization to ~INR779k/unit and tractor realizations grew by ~8% YoY and 4% QoQ to INR551k/unit.”

Motilal Oswal has said “the gross margin of M&M’s declined by 6pp YoY (-320bp QoQ) to 27.2% (est. 28.5%), impacted by commodity cost and adverse mix (lower Tractor sales) and lower than estimated staff cost (-10% QoQ due to one-off) and other expenses (on account of operating leverage) supported EBITDA margin at 12.5% (est. 12.3%), a decline of 480bp YoY and 140bp QoQ. EBITDA declined by 17% YoY and 2% QoQ to INR16.6b (est. ~INR15b).”

The brokerage has also said in its research report that “PBIT margin for Tractor/Auto segment of MM’s fell 6pp/270bp YoY, but rose 160bp/100bp QoQ to 18.7%/2.7%, higher other income (driven by dividend from subsidiaries) boosted adjusted PAT growth by ~31% YoY and 81% QoQ to ~INR16.9b (est. INR11.2b) and investment in subsidiaries/JVs/associates stood ~INR4.6b in 1HFY22 (v/s INR29.4b in 1HFY21).”

Buy Mahindra & Mahindra with a target price of Rs 1150

Buy Mahindra & Mahindra with a target price of Rs 1150

According to the research report of Motilal Oswal, the management commented that Mahindra & Mahindra Ltd. is currently consolidating its EV business by merging Mahindra Electric (100% subsidiary) with the standalone entity, bringing the entire EV business under one roof. It plans to have a sizable share in e-3Ws, e-LCVs, and e-PVs.

“In the Farm Machinery business, Mahindra & Mahindra Ltd is targeting to grow its FY27 revenue by 10x to ~INR50b (including ~INR10b from exports), led by strong growth in the domestic industry (to ~INR120b by FY27 from INR50b currently), and driving market share gains to over 30% from sub-10% currently” said Motilal Oswal.

The brokerage has further clarified in its research report that “We expect the Auto business to take over the growth mantle from Tractor, although deterioration in the mix would restrict EBITDA/EPS CAGR to ~17%/~23% over FY21-23E. MM’s valuations are still at a substantial discount to its five-year average, reflecting a weaker Tractor cycle. Implied core P/E for MM stands at 12.3x/9.6x FY22E/FY23E EPS. This implies an over 30% discount (on an FY23E basis) to its five-year average core P/E. We maintain our Buy rating, with a TP of INR1,150/share (Sep’23E SoTP).”

Disclaimer

Disclaimer

The above stock is picked from the brokerage report of Motilal Oswal. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.



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India Post Payments Bank to manage Department of Posts ATMs

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The Department of Posts (DoP) has decided to handover operations of its pan-India network of 1,000 onsite ATMs to its arm, India Post Payments Bank (IPPB).

IPPB, in turn, plans to engage the services of a managed service provider (Brown Label ATM operator/BLAO) to manage these ATMs on an operational expenditure (opex) model.

The move by IPPB to hire a managed service provider comes at a time when the Reserve Bank of India (RBI) and the Ministry of Home Affairs (MHA) have tightened the norms relating to the ATM ecosystem.

RBI norms include implementation of cassette swap for replenishing ATMs and introduction of a scheme of penalty for downtime at ATMs due to cash-outs.

Further, MHA had issued guidelines in 2018, prescribing cut-off time, after which no cash loading of the ATMs or cash transportation activities can be done in urban and rural areas and left-wing extremism affected areas.

Responsibilities

IPPB expects the managed service provider to replace all the existing ATMs of DoP (India Post) with new ATMs on opex model.

The service provider will also be responsible for the ATMs’ upgrade, maintenance, cash management, customer complaints redressal and online monitoring, among others.

These ATMs will be integrated with the bank’s existing infrastructure seamlessly. IPPB will be sponsor bank and DoP will be a sub member for ATM operations.

Under the opex model, transaction revenue will be with IPPB and the managed service provider will be paid a fixed monthly amount for each ATM machine and support infrastructure such as AC, UPS, etc.

As per the Reserve Bank of India’s Committee to Review the ATM Interchange Fee Structure (2020), the average monthly cost of operating ATMs in the case of managed service providers, who deploy and operate ATMs for banks, is about ₹70,565 per ATM pre-compliance and would be about ₹83,700 per ATM after complying with recent ATM security guidelines and control measures, MHA guidelines and cassette swap requirements.

The aforementioned cost does not include cost of cash (holding) as it is borne by banks in BLAO model, the six-member Committee headed by VG Kannan, then Chief Executive of the Indian Banks’ Association, said.

The States where DoP has more than 50 ATMs include Tamil Nadu (97; the Department’s first ATM was inaugurated at Thyagaraya Nagar Head Post Office in Chennai in 2014); followed by Uttar Pradesh (89); Karnataka (76); Maharashtra (75); West Bengal (65); Rajasthan (64); Andhra Pradesh (59), and Kerala and Madhya Pradesh (52 each).

IPPB was set up by the government as a public limited company under India Post in 2016 to remove barriers to access basic financial services by the common man especially in the unbanked and under-banked areas.

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Now, a vaccine-linked deposit scheme for Kerala Gramin Bank customers

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Even as government bodies are exploring options to encourage people to take Covid jabs, a regional rural bank in Kerala has come out with a novel motivational incentive by offering an additional interest rate on the deposits for its customers.

The product – KGB Kavacham – introduced by the Malappuram-headquartered Kerala Gramin Bank in this regard has started receiving overwhelming customer response since its launch on July 1 that helped the bank to garner additional ₹500 crore deposits till September.

The cumulative deposits opened under the scheme, according to bank officials, will fetch an interest rate of 5.55 per cent, which is higher than the prevalent rate of interest for the same period for normal deposits opened for 15 months by 0.25 per cent

“We joined hands with the government’s Covid vaccination drive by launching this deposit scheme linked to vaccination. It is intended to motivate people to get vaccinated,” KR Bindu, Assistant General Manager, Kerala Gramin Bank, Malappuram told BusinessLine.

Innovative approach

Vaccine hesitancy, reportedly, has resulted in lower turnout of people in Malappuram district compared to other districts in the State which prompted the bank to come up with an innovative idea. “The success of our scheme is evident from the deposit collections,” added Bindu.

This is for the first time in India a rural bank is drumming up support for the government’s vaccination campaign, according to Bindu, and KGB Kavacham is a distinct effort to salute all who braved the trauma and setbacks caused by the Covid pandemic, she added.

Those who have taken a single or double dose of the Covid-19 vaccine are eligible for the bank’s deposit scheme. Besides, the bank has also rolled out a special term-deposit scheme – KGB Platinum – to commemorate the platinum jubilee celebrations of India’s independence – offering a higher interest rate of 5.60 per cent for deposits made for 775 days.

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Rupee slips 11 paise to 74.16 against US dollar in early trade

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The Indian rupee depreciated by 11 paise to 74.16 against the US dollar in opening trade on Wednesday, tracking a lacklustre trend in the domestic equity market and firm American dollar.

At the interbank foreign exchange, the rupee opened on a weak note at 74.11, then fell further to 74.16, registering a decline of 11 paise from the last close.

On Tuesday, the rupee had closed at 74.05 against the US dollar.

Dollar index

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.08 per cent to 94.03.

“As the inflows in the two IPOs getting subscribed are tepid, the dollar rupee was bought yesterday from 73.86. Today, there could be outflows of Nykaa and may be some inflows of Paytm,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

Bhansali further said that “importers to keep buying near to 74.00 and below. Exporters will wait for 74.40 and 74.50 before they begin to sell.” Global oil benchmark Brent crude futures advanced 0.29 per cent to $85.03 per barrel.

Moreover, foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth ₹2,445.25 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 286.21 points or 0.47 per cent lower at 60,147.24, while the broader NSE Nifty declined 84.40 points or 0.47 per cent to 17,959.85.

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