The document provides an overview of the history and functions of investment banking. It discusses how modern banking originated in Italy in the 13th century and the earliest stock markets emerged in the 1500s-1600s. Investment banks help companies raise capital through public/private offerings and provide advisory services for mergers and acquisitions. They earn fees from capital raising and trading activities. The document outlines the key business lines of investment banks and differences between commercial and investment banking. It also discusses the front, middle and back office functions within investment banks and the roles they play.
This has been prepared a business coach who gives finance training to corporate. This is for a more informal set up/ audience as it includes more colors, themes, images and less of text.
this is a presentation on an introduction to investment banking highlighting the key functions of an investment bank, comparing commercial bank and Investment Bank, highlighting the organizational structure of Investment banks, and Investment banking scenario in india.
this ppt is about the financial services .whats the financial services, types of financial services,functions of financial services,importance of financial services,features of financial services,Indian financial system as well as international financial management.
This has been prepared a business coach who gives finance training to corporate. This is for a more informal set up/ audience as it includes more colors, themes, images and less of text.
this is a presentation on an introduction to investment banking highlighting the key functions of an investment bank, comparing commercial bank and Investment Bank, highlighting the organizational structure of Investment banks, and Investment banking scenario in india.
this ppt is about the financial services .whats the financial services, types of financial services,functions of financial services,importance of financial services,features of financial services,Indian financial system as well as international financial management.
This presentation covers Merchant Banking History; Categories; Services provided by them; Methods of placement; underwriting; Issue management & SEBI guidelines.
An investment banking is a financial institution that assists individuals, corporations and governments in raising financial capital by underwriting or acting as the client’s agent in the issuance of securities or both
Financial Markets - Money market-Organized and Unorganized-Sub markets
Capital market- Primary market-IPO-FPO- NFO, Book Building-Right Issue-Private placement- Bonus issue-Buyback
Secondary Market-Stock exchanges- Role and functions of Stock Exchanges- BSE-NSE.
Regulatory authorities and their functions – RBI, SEBI
This presentation covers Merchant Banking History; Categories; Services provided by them; Methods of placement; underwriting; Issue management & SEBI guidelines.
An investment banking is a financial institution that assists individuals, corporations and governments in raising financial capital by underwriting or acting as the client’s agent in the issuance of securities or both
Financial Markets - Money market-Organized and Unorganized-Sub markets
Capital market- Primary market-IPO-FPO- NFO, Book Building-Right Issue-Private placement- Bonus issue-Buyback
Secondary Market-Stock exchanges- Role and functions of Stock Exchanges- BSE-NSE.
Regulatory authorities and their functions – RBI, SEBI
Brief information about merchant banking institutions in india, meaning,
Origin, capital adequacy requirement, category of merchant banks, merchant bank services etc...
This presentation is created for education purpose only. This presentation gives information about various aspects of stock broking services in India. Following are the various points covered regarding stock broking services:-
Types of broker, Nature of Work,Regulation for brokers , Eligibility Criteria for Membership, Admission Procedure for New Membership, Role & function of brokers, responsibility of broker, Worker ethics for broker ,Process of order execution ,Ways through broker earn money, Major brokerage firms in India.
Portfolio mgmt & mutual fund analysis presentation of ICICI BankAmit P
Internship Project during M.B.A 4th Sem.
Project Title: A Study on Portfolio Management & Mutual Fund Analysis of ICICI Bank
Responsibilities :
•To measure the performance of mutual funds using Sharpe’s Performance index
•To calculate Risk & Return of different banks
•To calculate an ideal portfolio using Sharpe’s model of different banks
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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2. History (contd..)
• Modern banking finds its roots in Italy in the
13th century.
• The cities financed its developmental
activities and wars through issuance of bonds
or from borrowing through public.
• World’s oldest known bank has its roots in
Italy. It’s The Monte di Pietà, or Monte Pio set
up in 1472.
3. The need for Investment Banks
• First stock market in Antwerp Belgium in 1531– sans
the stock!!
• Limited liabilities companies came into existence in the
1600s to sponsor trade voyages to the East Indies from
countries such as Britain, France etc.
• Investors spread their risk by investing in several
different ventures at the same time, thereby playing
the odds against all of them ending in disaster.
• This kind of business model led to risk management .
• Dutch East India company was the 1st to allow outside
investors to purchase shares.
4. The need for Investment Banks
• Share trading at the Jonathan coffee shop in
London.
• Investors who wished to buy or sell securities
posted the details at the coffee shop and the
trade happened.
• A formal stock exchange was built in 1773.
• NYSE came around 19 years later.
5. • Investment banks help companies and
governments and their agencies to raise money
by issuing and selling securities in the primary
market.
• They assist public and private corporations in
raising funds in the capital markets (both equity
and debt),
• as well as in providing strategic advisory services
for mergers, acquisitions and other types of
financial transactions.
6. Whats the Difference??
Commercial Bank Investment Bank
• Individual or small to mid • Companies/ Start-ups
sized companies.
• Loans to buy a house or • Borrows to finance the
future education etc. growth of a company.
• Bank- Creditor & General • Investors – Creditor &
Public – Debtor Companies – Debtor
• Earns money through the • Earns money through the
interest charged on loans fees charged for providing
services
7. Why an Investment Bank
It performs the following functions
Portfolio
Raise Capital
Management
M&A Research
8. Principal Businesses of Investment
Banks
• Arranges financing for corporations and governments.
1] Debt
2] Equity
3] Convertibles
• Advises on mergers and acquisitions (M&A) transactions.
• Asset Management Business
1] Offers equity, fixed income, alternative investments, and
money market investment products and services to individual
and institutional clients
2] For alternative investment products, the firm co-invests
with clients in hedge fund, private equity and real estate funds
9. Principal Businesses of Investment
Banks
• Client Trading
• Sells and trades securities
and other financial assets
as intermediary on behalf
of investing clients.
• Proprietary Trading
Investment activity by the
firm that affects the firm's
accounts, but does not
involve investing clients.
10. Investment Banking In India
• SBI was the first Indian public sector bank to set
up its investment banking division in 1972.
• ‡SBI Caps and IDBI Caps are two prime examples
of investment banks in India today.
• ‡Currently, there are 300 investment banks
registered with SEBI.
• ‡Currently, without holding a certificate of
registration
granted by the Securities and Exchange Board of
India,
no person can act as a investment banker.
11. Investments in
India
16000
14000
12000
10000
8000
Deal Value in Million
6000
4000
2000
0
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Source – www.livemint.com
12. • Start-ups
• Mid-sized firms
Companies • Large firms
• Govt. Institutions
• Commercial Banks
• High Networth Ind.
• Venture Capitalists
Investors • Based on age group
• Based on profession
• Based on investing knowhow
• SEBI
• Rating Agencies
• Due Diligence firms
Functioning • Underwriters
• Stock exchange
• Brokerage Firms
13. Value Parameters
1] ROI
2] Network
3]Risk factor
4]Fees/Charge/Cost
5]Familiarity/Relationship
6]Experience of the bank & the banker
7]Performance
8] Industry Knowledge
9] Personal Attention
10]Time taken to close a deal
http://www.ft.com
The Banker Sept 2011
14. Venture Capital n Investment Bank
New Business – Venture Capital
Expansion – Venture Capital with
IB acting as the intermediary
Exit Option – Through IPOs
handled by the IBs
16. Front Office
• Pitching to various clients and institutions
• Setting the terms and conditions for any form of deal
• Trading of securities on behalf of clients
In the process of market making, traders will buy and
sell financial products with the goal of making an
incremental amount of money on each trade.
Sales desks communicate their clients' orders to the
appropriate trading desks, who can price and execute
trades, or structure new products that fit a specific
need.
18. • Research is the division which reviews
companies and writes reports about their
prospects, often with "buy" or "sell" ratings.
• Structuring has been a relatively recent
division as derivatives have come into
play, which involves creating complex
structured products which typically offer
much greater margins and returns than
underlying cash securities.
20. Middle Office
Middle office usually consists of traders, analysts, and
managers who are knowledgeable of trading activities
but usually don’t engage in market activities
themselves. ( Chinese Wall Policy)
Risk Management involves
• analyzing the market and credit risk that traders are
taking onto the balance sheet in conducting their daily
trades,
• setting limits on the amount of capital that they are
able to trade in order to prevent 'bad' trades having a
detrimental effect to a desk overall.
21. • Another key Middle Office role is to ensure
that the above mentioned economic risks are
captured accurately (as per agreement of
commercial terms with the client) correctly
and on time (typically within 30 minutes of
trade execution).
23. Back Office
• Operations involves data-checking trades that
have been conducted, ensuring that they are
not erroneous, and transacting the required
transfers.
• Every major investment bank has considerable
amounts of in-house software, created by the
Technology team, who are also responsible for
Computer and Telecommunications-based
support.
24. 200
180
160
140
120
Europe
100
80 USA
60 Asia Pacific
40
20
0
2007 2008 2009 2010 2011
IPOs by Region and Globally
Source – The Banker Sept 2011 Issue
25. Front End Process (IPO)
1. Company asks for bids
2. Selecting lead managers as per bids
3. Prepare draft offer prospectus document for IPO.
4. Road shows for the IPO
5. Decide the issue date & issue price band with the help of
Issuer Company
6. RHP & IPO Application Forms are printed and posted to
syndicate members; through which they are distributed to
investors
7. Investor – Bidding for the public issue
8. Allocation of shares as per demand
9. Stocks listed on the market
26. Institutions/Individuals in IPO process
• Lead managers,also known as Book Running Lead Manager
and Co Book Running Lead Managers.
• Registrars.
• Legal advisors.
• Auditors.
• SEBI.
• Credit rating agencies.
• Syndicate members.( generally banks )
• Investors (Retail Individual Investor (RII), High Net worth
Individual (HNI), Non-institutional bidders, Qualified
Institutional Bidders (QIB's).)
• Advertising agencies.
27. Back-end process of an IPO
1) Issuer Company - IPO Process Initialization
Appoints lead manager as book runner.
Appoints registrar of the issue.
Appoints syndicate members.
2) Lead Manager's - Pre Issue Role
3) SEBI – Prospectus Review
SEBI reviews draft offer prospectus.
Reverts it back to Lead Manager if needs clarification
or changes.
SEBI approve the draft offer prospectus, the draft
offer prospectus is now become Offer Prospectus.
28. Back-end process of an IPO contd..
4) IPO should be graded by a CRA
5) Preparation of Red Herring prospectus
6) Investor – Bidding for the public issue
7) Lead Manager – Price Fixing
8) Registrar - Processing IPO Applications
9) Lead manager – Stock Listing
29. Fees taken at diff stages of an IPO
SR NO Particulars % of Issue size
1. Lead Managers (0.2 – 1 )%
2. (3-4) %
Syndicate Fees, and Selling Commission
3. (1-2) %
Advertising, and Marketing Expenses
4. (1-2) %
Printing and Stationary Expenses
5. (1-2) %
Miscellaneous Expenses
-Filing Fess With SEBI, BSE & NSE, Registrar’s Fees,
Legal Advisor’s Fees, IPO Grading, Listing Fees,
Others
6. Total (8-10 ) %
30. MARKETING OF IPO
Press Conference
Investors Conference
The prospective investors are called by invitation.
The Promoters and Lead Managers give
presentations. They reply to the questions of the
investors to boost their confidence. HNI are called.
Top brokers are also called.
Road Shows
Road shows are becoming more and more popular
in India.
31. MARKETING OF IPO contd..
Newspaper Advertisements.
Printing – Prospectus.
The company has to print approved prospectus and provide
enough copies to all intermediaries. If any investor asks for a
copy of prospectus it must be provided to him without any
fees. Sufficient quantities should be maintained at the
registered office of the company and with the Lead Managers.
Printing Application Forms
Sufficient number of application forms must be printed much
before the opening of the issue. Each form must contain
abridged prospectus in SEBI approved format. It is compulsory
to provide stationery to all underwriters and brokers. They will
arrange distribution to their sub- brokers and other clients
32. MARKETING OF IPO contd..
• The reputation of a merchant banker could
expand a firm’s investor base at a lower cost
than the firm can, since the promotional
efforts of a merchant banker on behalf of the
firm would be more creditable.
33. Networking and Promotions
• Customer Relationship Managers building the trust
• Networking via already existing clients
• Pitching by interaction with the CEOs and CFOs of
companies
• Hiring people from other firms with strong network
and good customer relationships
• Holding roadshows
• Holding seminars to attract investors
• Structured products and services to attract customers .
Eg. ICICIdirect money Kitchen
34. Need Gaps in the IB sector
• Front End
IB is still at a very nascent stage in India and
hence needs to be developed and promoted
properly.
The trust factor is still not been built up amongst
the companies and investors. Here there is need
of trained analysts to do the same.
Lack of Investor knowhow
Still concentrated only on the metros. Need to
move to the tier-2 and tier-3 cities to tap in more
potential investors.
35. • Back End
Need to develop more robust risk
management systems.
Use of better technology and systems required
for 2 main purposes
1. To keep track of an investor’s database better
2. Bring in faster and more intelligent systems