Challenges of Doing Business in india - Corruption, Efficiency and the Way Fo...IPPAI
Mr. Dhanendra Kumar
Former Chairman CCI, & Principal Advisor
Indian Institute of Corporate Affairs
Ministry of Corporate Affairs, Govt. of India
at RPR 2012, 23-26 August, Goa, India
A lucid and attractive presentation on the topic - "Ease of Doing Business in India". Discussion is done on both the basics as well as the nitty-gritty of the topic.
India - Reflections on the Economy, Employment, Budgets, and Taxation3one4 Capital
Version: February 2020
Authored By: Mr. T.V. Mohandas Pai, Siddarth Pai, Nisha Holla, and Yash Baid
Powered By: 3one4 Capital Research Lab
A compilation of opinions, research, analysis on India's Economy, Employment, Budget, and Taxation
The government of India has, in the past few years, accorded an utmost priority to the Ease of Doing Business (EoDB). The accent is on simplification of regulations and use of technology to make the compliance more efficient for businesses. Apart from the Centre, the States are also being encouraged to implement business reforms in the spirit of competitive federalism, to foster reforms at the sub-national level. The measures are aimed at creating a conducive business environment, which is a key to facilitating growth and creating jobs. Thanks to these measures, India’s EoDB ranking, captured by the World Bank, has improved by 42 spots since 2014 to touch the 100th position now. The Prime Minister envisions India among the top 50 nations in the next couple of years.
While business reforms are being undertaken at a rapid pace and large scale, cutting across Central as well as state levels, it is imperative that awareness about these developments is created among stakeholders and regular feedback is generated to address the gaps in the implementation of reforms. Identification of pending issues and suggesting possible solutions are equally vital. It is also important to identify the best practices within and outside the country, which are considered for implementation by the needy states.
Challenges of Doing Business in india - Corruption, Efficiency and the Way Fo...IPPAI
Mr. Dhanendra Kumar
Former Chairman CCI, & Principal Advisor
Indian Institute of Corporate Affairs
Ministry of Corporate Affairs, Govt. of India
at RPR 2012, 23-26 August, Goa, India
A lucid and attractive presentation on the topic - "Ease of Doing Business in India". Discussion is done on both the basics as well as the nitty-gritty of the topic.
India - Reflections on the Economy, Employment, Budgets, and Taxation3one4 Capital
Version: February 2020
Authored By: Mr. T.V. Mohandas Pai, Siddarth Pai, Nisha Holla, and Yash Baid
Powered By: 3one4 Capital Research Lab
A compilation of opinions, research, analysis on India's Economy, Employment, Budget, and Taxation
The government of India has, in the past few years, accorded an utmost priority to the Ease of Doing Business (EoDB). The accent is on simplification of regulations and use of technology to make the compliance more efficient for businesses. Apart from the Centre, the States are also being encouraged to implement business reforms in the spirit of competitive federalism, to foster reforms at the sub-national level. The measures are aimed at creating a conducive business environment, which is a key to facilitating growth and creating jobs. Thanks to these measures, India’s EoDB ranking, captured by the World Bank, has improved by 42 spots since 2014 to touch the 100th position now. The Prime Minister envisions India among the top 50 nations in the next couple of years.
While business reforms are being undertaken at a rapid pace and large scale, cutting across Central as well as state levels, it is imperative that awareness about these developments is created among stakeholders and regular feedback is generated to address the gaps in the implementation of reforms. Identification of pending issues and suggesting possible solutions are equally vital. It is also important to identify the best practices within and outside the country, which are considered for implementation by the needy states.
The document describes the ease of doing business in India. It discusses the factor used for calculating ease of doing business index. It also mentions about the regulations restricting the ease of doing business in India and the way forward to improve the same.
The state government of Maharashtra has been at the forefront in creating a conducive business environment that fosters globally competitive firms. Business reforms introduced both by the Central as well as the state government have played a critical role in India’s 30 spots improvement in the Doing Business ranking for 2018.
The State, under the Business Reforms Action Plan (BRAP) 2016, has implemented over 90 per cent reforms in 7 out of 10 parameters, including labour registration, utility connections, single window system, environment registration, among others. These policy reforms have significantly helped in the reduction in time and cost of doing business for the industry, thereby
establishing Maharashtra as one of the top investment destinations in the country.
This report provides the key highlights of the select initiatives on ease of doing reforms in Maharashtra. With a view to provide on-ground impact of these initiatives, the Report also captures industry views on various aspects of business reforms.
FINANCE BILL 2012 – MAJOR ISSUES AND CHALLENGESNeha Sharma
The Finance Bill 2012 was presented in the Lok Sabha recently and is under consideration of the Parliament. A very heated debate is happening on several new provisions and issues arising there from.
FEMALE SECURITY - A MATTER OF MAJOR CONCERNNeha Sharma
The recent incidents in Delhi followed by the mass protests at India Gate and all across the nation have brought to light a major threat to safety and security of females in the country. The profession of Chartered Accountancy consists of a substantial number of female members and about 50% CA students are also female.
Practical Insights on implementation of Companies Act 2013.
Training opportunity, November – December 2014.
Learn more and register here: www.ey.com/ca2013training
The recently enacted Companies Act, 2013 (the Act), along with changes in the listing agreement marked a historic moment and beginning of a new era, which aims to improve transparency and accountability in India’s corporate sector.
The Act outlines various requirements for governance, disclosures and enhanced roles, responsibilities and liabilities of the board, its committees and independent directors.
Based on our experience of assisting several large Indian and multinational companies towards implementation of Companies Act 2013, we have faced several implementation challenges, which we believe are relevant for large number of companies in India.
Mutual Fund Analysis Report - June'19
This report analyses the monthly and annual fund flows across different categories, covering AUM's of Top Mutual Funds and their major entry/exits.
Etude PwC Réussir vos investissements en Inde (2013)PwC France
http://pwc.to/1bFEiJI
Au cours des six derniers mois, le gouvernement indien a multiplié les initiatives pour relancer la croissance. Par ailleurs plusieurs développements juridiques et fiscaux sont susceptibles d'affecter les investissements en Inde des entreprises françaises.
Vertical Eye Financial Solutions is a Partnership firm which is into Taxation, Consultancy and Financial Management services catering to a wide variety of clients throughout India since 2008.
We provide best services Like Tax Consultant, Insurance and Investment Consultant and Property Related Services Provider in Vadodara.
Originally posted on LinkedIn on 17th May 2020- https://www.linkedin.com/feed/update/urn:li:activity:6667787215978029056/
With the 5th and final tranche announced today, we have a fair idea about the composition of the INR 20 trillion Atma Nirbhar Bharat Economic Package.
To summarize, the package is majorly focused on providing easy loans to businesses to meet their short-term requirement for funds.
INR 11.8 Trillion of the package is aimed at infusing liquidity. Also, credit guarantees up to INR 4 Trillion have been announced to incentivize banks to lend money.
Liquidity Infusion & Credit Guarantee together constitute 75% of the package.
Major part of Direct Benefits worth INR 2.3 Trillion has already been utilized in the PM Garib Kalyan Yojana.
INR 40000 crores for additional MGNREGS spending is the only major step that will help in reviving demand.
Government has done enough on the supply-side measures. However, it needs to be complemented with fast pick-up in demand to ensure the economic recovery is fast. We hope that the Government will take more measures to revive demand in the economy.
Government has also announced much needed reforms in many sectors. The benefits will be seen only in the long-term.
Since, this is the final report we have created a comprehensive report for your perusal. Hope you find it useful.
NATION UNDER ANGUISH - ACRIMONIOUS ENVIRONMENT Neha Sharma
The recent announcements of election results are historic and has brought to light serious concerns of the nation, the economy, society and most importantly public at large about the current political as well as economic state of affairs. This is very clear from active involvement and a record turnout of voters for the election.
The document describes the ease of doing business in India. It discusses the factor used for calculating ease of doing business index. It also mentions about the regulations restricting the ease of doing business in India and the way forward to improve the same.
The state government of Maharashtra has been at the forefront in creating a conducive business environment that fosters globally competitive firms. Business reforms introduced both by the Central as well as the state government have played a critical role in India’s 30 spots improvement in the Doing Business ranking for 2018.
The State, under the Business Reforms Action Plan (BRAP) 2016, has implemented over 90 per cent reforms in 7 out of 10 parameters, including labour registration, utility connections, single window system, environment registration, among others. These policy reforms have significantly helped in the reduction in time and cost of doing business for the industry, thereby
establishing Maharashtra as one of the top investment destinations in the country.
This report provides the key highlights of the select initiatives on ease of doing reforms in Maharashtra. With a view to provide on-ground impact of these initiatives, the Report also captures industry views on various aspects of business reforms.
FINANCE BILL 2012 – MAJOR ISSUES AND CHALLENGESNeha Sharma
The Finance Bill 2012 was presented in the Lok Sabha recently and is under consideration of the Parliament. A very heated debate is happening on several new provisions and issues arising there from.
FEMALE SECURITY - A MATTER OF MAJOR CONCERNNeha Sharma
The recent incidents in Delhi followed by the mass protests at India Gate and all across the nation have brought to light a major threat to safety and security of females in the country. The profession of Chartered Accountancy consists of a substantial number of female members and about 50% CA students are also female.
Practical Insights on implementation of Companies Act 2013.
Training opportunity, November – December 2014.
Learn more and register here: www.ey.com/ca2013training
The recently enacted Companies Act, 2013 (the Act), along with changes in the listing agreement marked a historic moment and beginning of a new era, which aims to improve transparency and accountability in India’s corporate sector.
The Act outlines various requirements for governance, disclosures and enhanced roles, responsibilities and liabilities of the board, its committees and independent directors.
Based on our experience of assisting several large Indian and multinational companies towards implementation of Companies Act 2013, we have faced several implementation challenges, which we believe are relevant for large number of companies in India.
Mutual Fund Analysis Report - June'19
This report analyses the monthly and annual fund flows across different categories, covering AUM's of Top Mutual Funds and their major entry/exits.
Etude PwC Réussir vos investissements en Inde (2013)PwC France
http://pwc.to/1bFEiJI
Au cours des six derniers mois, le gouvernement indien a multiplié les initiatives pour relancer la croissance. Par ailleurs plusieurs développements juridiques et fiscaux sont susceptibles d'affecter les investissements en Inde des entreprises françaises.
Vertical Eye Financial Solutions is a Partnership firm which is into Taxation, Consultancy and Financial Management services catering to a wide variety of clients throughout India since 2008.
We provide best services Like Tax Consultant, Insurance and Investment Consultant and Property Related Services Provider in Vadodara.
Originally posted on LinkedIn on 17th May 2020- https://www.linkedin.com/feed/update/urn:li:activity:6667787215978029056/
With the 5th and final tranche announced today, we have a fair idea about the composition of the INR 20 trillion Atma Nirbhar Bharat Economic Package.
To summarize, the package is majorly focused on providing easy loans to businesses to meet their short-term requirement for funds.
INR 11.8 Trillion of the package is aimed at infusing liquidity. Also, credit guarantees up to INR 4 Trillion have been announced to incentivize banks to lend money.
Liquidity Infusion & Credit Guarantee together constitute 75% of the package.
Major part of Direct Benefits worth INR 2.3 Trillion has already been utilized in the PM Garib Kalyan Yojana.
INR 40000 crores for additional MGNREGS spending is the only major step that will help in reviving demand.
Government has done enough on the supply-side measures. However, it needs to be complemented with fast pick-up in demand to ensure the economic recovery is fast. We hope that the Government will take more measures to revive demand in the economy.
Government has also announced much needed reforms in many sectors. The benefits will be seen only in the long-term.
Since, this is the final report we have created a comprehensive report for your perusal. Hope you find it useful.
NATION UNDER ANGUISH - ACRIMONIOUS ENVIRONMENT Neha Sharma
The recent announcements of election results are historic and has brought to light serious concerns of the nation, the economy, society and most importantly public at large about the current political as well as economic state of affairs. This is very clear from active involvement and a record turnout of voters for the election.
India has become the globally most preferred destinations for conducting business operations today. The key drivers of business growth in India includes the huge investment potential, lower operating costs, skilled workforce, emerging markets with tremendous business opportunities that is available to foreign investors. These positive indicators have attracted many foreign corporations to set up their business operations in India.
Seeing the Indian growth story and future outlook we’re pleased to launch our India Entry Consulting services in addition to our existing bouquet of Risk advisory, Consulting, Training & Human Capital Services. Our services are offered through our multi location delivery centres in major metros with total presence in 11 Indian cities network. Our India business entry services is directed at providing the right platform to entrepreneurs/ corporates around the globe to take their business initiative in India in a well-informed, strategically driven manner.
Entrepreneurship and Small Business: Unit No. 1amitsethi21985
As per PTU BBA Syllabus, Unit No. 1: Understanding Ownership Structure: Definition of small scale, medium scale and large scale enterprises, role of small enterprises in economic development, policies governing SMEs, Steps in setting up a small unit, Sources of finance for SME’s,
Employee retention issues and analysisRehan Akhtar
It covers employee retention issues, reasons for attrition, attrition analysis, ways to reduce attrition and how to predict attrition using identified attributes
There are different ways to represent Project Portfolio.
Based on Type of Engagement, Vertical/Industry, Number of Projects, Number of Resources (Resource Breakup), Contracts, Revenue, Region etc. Different Permutations and Combinations use to represent the data to give meaningful information as per the requirement.
Its one way of showing the interactions between the different functions within an organization. The functions are shown separately as these can be outsourced.
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 is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
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RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
2. Company Background
Infinite Computer Solutions is a global service provider of Infrastructure
Management Services, Intellectual Property (IP) Leveraged Solutions, and IT
Services, focused on the Telecom, Media, Technology, Manufacturing,
Power and Healthcare industries. Infinite Computer services span from
Application Management Outsourcing, Packaged Application Services,
Independent Validation and Verification, Product Development and Support,
to higher value-added offerings including Managed Platform and Product
Engineering Services.
Infinite Computer's major customers includes Verizon, IBM, ACS, GE and
AOL. Company have 14 offices across the globe, including offices in multiple
locations in the US, UK, India, China, Malaysia, Singapore and Australia.
Infinite is one of the leading providers of telecom- specific offerings to service
providers, OEMs and ISVs in the Telecom vertical, globally. For fiscal year
2008-09, the telecom vertical contributed to 59.4% of their total revenues.
Objects of the Issue
It’s a new issue.The objects of the Issue are to achieve the benefits of listing
on the Stock Exchanges & to raise capital to:
1. Capital Expenditure;
2. Acquisitions;
3. Repayment of Debt;
4. General Corporate Purposes;
5. Issue Related Expenses.
Issue Price Announcement Date
At the time of filing RHP
3. Issue Details
• Issue Open: Jan 11, 2010 - Jan 13, 2010
• Issue Type: 100% Book Built Issue IPO
• Issue Size: 11,503,000 Equity Shares of Rs. 10
• Issue Size: Rs. 189.80 Crore
• Face Value: Rs. 10 Per Equity Share
• Issue Price: Rs. 155 - Rs. 165 Per Equity Share
• Market Lot: 40 Shares
• Minimum Order Quantity: 40 Shares
• Listing At: BSE, NSE
Merchant Banker/Lead Manager
• India Infoline Limited
• Spa Merchant Bankers Ltd
Bankers to the Issue
• ICICI Bank Limited
• HDFC Bank Limited
• The Hongkong and Shanghai Banking Corporation Limited
Registrar of the Issue
Bigshare Services Pvt. Ltd
Underwriters
• SPA Merchant Bankers Limited
• India Infoline Limited
• Avendus Capital Private Limited
4. • SPA Securities Limited
• Reliance Securities Limited
IPO Grading Agency
• CRISIL Limited
• IPO Grade 2
Risks
• We are party to certain legal proceedings that, if decided against us,
could have an adverse effect on our financial condition and results of
operations.
• Our funding requirements and the deployment of the proceeds of the
Issue are based on management estimates and have not been
independently appraised
• We have not entered into any definitive agreements to utilize the
proceeds of the Issue
• There has been delay in implementation of the proposed projects for
which funds are proposed to be raised through this Issue. This has
resulted in increase in cost of our proposed capital expenditure. Any
further delay is subject to risk of cost and time overrun
• We have a number of contingent liabilities, and our profitability could
be adversely affected if any of these contingent liabilities materializes
• For the development of certain products, we may be using certain
essential intellectual property for which we may not have obtained
prior permission.
• We could face currency exchange risks as a significant percentage of
our revenues are denominated in U.S. Dollars and other currencies
• Tightening immigration policies across the western world especially in
the United States during the election year and Europe’s preference for
EU origin workforce could hamper our future efforts to grow in these
key markets
5. • Risk of Force Majeure, Political and Economic risks involving India
• The market value of the Equity Shares may fluctuate due to the
volatility of the securities markets
Book Building Data
Number of Times Issue is Subscribed (BSE + NSE)
Qualified
Institutiona
l Buyers
(QIBs)
Non
Institutional
Investors
Retail
Individual
Investors
(RIIs) Total
Shares Offered / Reserved 4,026,050 1,725,450 4,026,050 9,777,550
Day 1 - Jan 11, 2010 17:00
IST 0.8162 0.0000 0.1806 0.4104
Day 2 - Jan 12, 2010 17:00
IST 2.7773 8.3487 0.7635 2.9313
Day 3 - Jan 13, 2010 17:00
IST 48.4435 106.0171 11.0781 43.2200
Category of Investors
Listing Day Trading Information
BSE
• Listing Date: Wednesday, February 03, 2010
• Issue Price: Rs. 165.00
• Open: Rs. 178.35
• Low: Rs. 178.35
• High: Rs. 205.80
6. • Last Trade: Rs. 191.60
• Volume: 16,382,299
NSE
• Issue Price: Rs. 165.00
• Open: Rs. 170.00
• Low: Rs. 170.00
• High: Rs. 206.00
• Last Trade: Rs. 191.80
• Volume: 24,435,160
MFs invested in this company
Scheme % of asset size
• Principal Services Industries Fund - Growth 2.23
• Principal Services Industries Fund - Dividend 2.23
• Principal Resurgent India Equity Fund - Growth 1.35
• Principal Resurgent India Equity Fund - Dividend 1.35
• Principal Tax Savings Fund - Dividend 1.34
List of Anchor Investors
• T Rowe Price International Inc. A/c T Rowe Price International
Discovery Fund - 303000
• Carlson Fund – India - 303000
• Lloyd George Investment Management (Bermuda) Ltd A/c – LG India
Fund - 181920
• Lloyd George Investment Management (Bermuda) Ltd A/c – LG India
Plus Fund - 121330
• Alden Global (Mauritius) Limited - 60250
• Credit Suisse (Singapore) Limited - 120500
• BATSPL A/c Bharti Axa Equity Fund - 60600
7. • Reliance Capital Trustee Co. Ltd. A/c Reliance Regular Savings Fund-
Bal option - 514600
• Citigroup Global Markets Mauritius Private Limited – 60250
Standard Deviation
Cumulative Month Standard Deviation
Feb 5.083945318
Feb - March 7.421035755
Feb - April 10.61402765
Feb - May 15.22239254
Feb - June 15.69639824
Feb - July 14.9939065
Monthly Returns
Months Monthly Return
Feb 30.5
Mar 32.75
Apr 31.3
May 49.4
June 15.25
July 17.8
8.
9. Company Background
Incorporated in 1996, Intrasoft Technologies Limited provides electronic
greeting card services through website, www.123greetings.com.
123greetings is the largest electronic greeting cards website in India and 2nd
largest in the world.
123greetings has range of over 20,000 electronic greeting cards designed to
cater to varying geographical and religious celebrations, occasions and other
events.
Company has a team consisting of 16 creative professionals who develop in-
house content including artistic, photographic and musical content for its
electronic greeting cards.
Company doesn't charge its users for accessing and sending electronic
greetings and derive its revenues almost entirely from online advertising
revenues and software development services.
Objects of the Issue
1. Branding and Promotion;
2. Purchasing a corporate office at Kolkata;
3. Investment in technology infrastructure;
4. General corporate purposes;
5. Issue related expenses; and
6. Achieve the benefits of listing on the Stock Exchanges.
Issue Price Announcement Date
2 Days before the Issue
10. Issue Details
• Issue Open: Mar 23, 2010 - Mar 26, 2010
• Issue Type: 100% Book Built Issue IPO
• Issue Size: 3,700,000 Equity Shares of Rs. 10
• Issue Size: Rs. 53.65 Crore
• Face Value: Rs. 10 Per Equity Share
• Issue Price: Rs. 137 - Rs. 145 Per Equity Share
• Market Lot: 40 Shares
• Minimum Order Quantity: 40 Shares
• Listing At: BSE
Merchant Banker/Lead Manager
• Anand Rathi Securities Limited
• Collins Stewart Inga Private Limited
Bankers to the Issue
• HDFC Bank Limited
• IndusInd Bank Limited
Registrar of the Issue
Link Intime India Private Ltd
IPO Grading Agency
• CARE
• IPO Grade 3
Risks
• Our revenues are difficult to predict and do not arise from our users
directly. This may adversely affect our Company’s business, financial
condition and results of operations
11. • Our Company has not entered into any definitive agreements to use
the Net Proceeds of the Issue and there can be no assurance that our
Company will be able to enter into such agreements on terms
favourable to us or at all
• Our Company’s revenues are highly dependent on overseas users
and advertisers. Economic slowdowns and other factors that affect the
economic health of their respective economies may affect our
business
• Our services are technology driven and any breakdown of our
technical systems or any third party system failures and internet
disruptions could adversely impact our business
• Our Subsidiary and our Company are involved in certain legal
proceedings. The value of the claims in the these proceedings cannot
be ascertained or quantified and if these are adversely determined
against us, it may affect our business and reputation
• There are no standard valuation methodologies or accounting
practices in the emerging internet and internetrelated industries
• Changes in rules promulgated by the SEBI, the various stock
exchanges and the changes on the interpretation and enforcement of
existing law and rules relating to the stock markets or investment in
securities may adversely impact our business
• Terrorist attacks and other acts of violence or war involving India, the
United States, and other countries could adversely affect the financial
markets, result in loss of advertiser confidence, and adversely affect
our Company’s business, results of operations and financial condition
• Changes in the Indian Government’s economic and industrial policies,
statutory rules and regulations relating to economic, industrial or
labour affairs or the political situation in India could adversely affect
our business
12. Book Building Details
Number of Times Issue is Subscribed (BSE + NSE)
Qualified
Institutional
Buyers
(QIBs)
Non
Institutional
Investors
Retail
Individual
Investors (RIIs) Total
Shares Offered /
Reserved 1,850,000 555,000 1,295,000 3,700,000
Day 1 - Mar 23, 2010
17:00 IST 0.8895 0.7206 0.0482 0.5700
Day 2 - Mar 25, 2010
17:00 IST 1.6858 1.2184 0.3516 1.1500
Day 3 - Mar 26, 2010
18:00 IST 21.9673 21.6048 13.5080 18.9500
Category of Investors
Listing Day Trading Information
BSE
• Listing Date: Monday, April 12, 2010
• Issue Price: Rs. 145.00
• Open: Rs. 140.00
• Low: Rs. 123.30
• High: Rs. 167.15
• Last Trade: Rs. 159.35
• Volume: 16,800,481
MFs invested in this company
Scheme % of asset size
13. • Franklin Infotech Fund - Growth 0.15
• Franklin Infotech Fund - Dividend 0.15
No Anchor Investors
Standard Deviation
Cumulative Month Standard Deviation
April 12.35207862
April - May 11.94377574
April - June 10.08378307
April - July 8.899816687
Monthly Return
Months Monthly Return
Apr 54.05
May 32.3
June 20.95
July 11.7
14. There are mainly four credit rating agencies in India viz:-
• CRISIL ( Credit Rating Information Services of India Limited )
• CARE ( Credit analysis and research limited )
• ICRA ( Investment information & credit rating agency of India limited )
• FITCH India rating agency.
The ‘grading’ is given in an overall assessment of fundamentals on five point
scale from grade 5 to grade 1. These grades are explained as:-
• IPO grade 1: poor performance.
• IPO grade 2: Below average fundamentals.
• IPO grade 3: Average Fundamentals.
• IPO grade 4: Above strong fundamentals.
• IPO grade 5: strong fundamentals.
Benefits of IPO Grading
• Professional and independent appraisal – IPO grading will create
awareness about the fundamentals of the company’s IPO and will
provide focused company information as a key input to the prospective
investors that will be helpful in taking an investment decision.
• Removal of information burden – when disclosures of issues are
large and complex, the grading process can make it quickly cutting
through the clutter. Thus, IPO grading will particularly be helpful for the
small investors as it will serve as a guide for them of the new company
coming out with the issue.
• Impediment for weak companies – companies which are
fundamentally not very strong will be impeded in building speculative
demand among investors, such weak companies will need to offer
15. pricing, which will adequately compensate investor’s risk.IPO grading
provides disincentives for weak companies to come to the market for
easy finance.
• Improved investors sophistication - It can help an investor in
making his mind as CRAs do not force an investor to buy but it
provides scientific reasons for the investor to take a concrete decision
based on the IPO grading.
Conditions in which IPO grading doesn't work
• The IPO grades given are from 1 to 5.if the investor wants to invest in
a two companies and both the companies gives the same return, he is
confused and he takes the help of IPO grading to find out that both the
companies are having a same grade (e.g. IPO grade 5). Then how will
the investor decide on which IPO to invest for, the grading cannot help
him in making is mind. So the IPO grading may sometimes fail to
convince the investor and it is the investor’s final call on decision to
choose between the two investments. This condition is an exception to
IPOS grading.
• IPO grading for an issuing company as it gives better command on
premium for their new issues. But this merit of company may turn
harmful for the investors as an issuing company with a good IPO
grade can ask for a higher rate of premium which the investors are
forced to pay if they are looking for a better investment option. In this
way an issuing company which has a good IPO grade can exploit the
investors through higher rate of premium on their shares.