Boat share sale likely to be revived, Mehta says
Following its establishment as the market leader in the local market in 2022, Boat, the No. 2 manufacturer of hearables and wearables globally, plans to enter overseas markets in 2023, including the Middle East and South East Asia. The parent company's co-founder and chief product officer, Sameer Mehta, stated in an interview that "the company's proposed IPO is still on the table and could be revived once it doubles its production capacity to 20-25 million units by FY24 through partnerships and by establishing its own plant in India. In light of the current market situation, we decided that it would be wiser for us to postpone the IPO and reinvest in our second major business, wearables, which involves significant financial outlays. The scale-up will take place in one to two years, and in order to construct it, we've purchased Kaha Technologies, an end-to-end IoT and AI platform, from Singapore. It is not whether we will do an IPO, we will do. It’s just about when. Recently, we raised roughly $60 million. It provides us with adequate breathing room to grow our company before the IPO. However, if circumstances change, we will be flexible. As of right now, I believe we are largely secure because of the strength of our balance sheets.".
HDFC Securities released its financials for FY23 Q3
HDFC Securities released its financials for FY23 Q3. The company's total revenues decreased 5.7% from Rs 535.6 Cr in Q3 FY22 to Rs 504.9 Cr in Q3 FY23 and Net Profit decreased by 21.2% from Rs 258.0 Cr in Q3 FY22 to Rs 203.2 Cr in Q3 FY23. The Company's Total Equity has shown a growth of 6.6% in FY23 Q3 increasing from Rs 1,657.5 Cr in FY22 Q3 to Rs 1,767.5 Cr in FY23 Q3.
HDB Financial Services (HDBFS) released its financials for Dec Q3 FY22
HDB Financial Services (HDBFS) released its financials for Dec Q3 FY22. The company reported a growth of 12% in its revenues from Rs 2,804.5 Cr in Q3 FY21 to Rs 3,154.7 Cr in Q3 FY22 and Debt to equity ratio has decreased by 9.5% from 5.9 in Q3 FY21 to 5.3 in Q3 FY22. The Net Worth of the company has shown a growth of 20.0% increasing from Rs 81,039.0 Cr in Q3 FY21 to Rs 97,623.0 Cr in Q3 FY22.
Zerodha Broking Released its Financials for FY22
Nayara Energy Pvt Ltd.
Trafigura Group Pte Ltd has announced the completion of the sale of its 24.5% indirect minority interest in downstream energy and petrochemicals company Nayara Energy Limited to Hara Capital Sarl, a wholly owned subsidiary of Mareterra Group Holding (formerly Genera Group Holding S.p.A.), an energy investment group with a focus on energy and carbon efficiency infrastructure.
As per sources Trafigura got book value for its stake, which was carried in its last annual report at $165.9 million and was classified as "held for sale", in its financial reports since 2021.
Headquartered in Rome, Mareterra Group Holding is predominantly active in Italy, Luxembourg, France, Spain and is expanding its reach to include regions outside of Europe. As a new shareholder in Nayara Energy, it will bring its strong experience in reducing the carbon footprint of fuel stations, installing electric charging stations and improving energy efficiency at industrial assets. The Group will also support Nayara Energy’s strategy to become a major petrochemical producer. Over the past two years, Mareterra Group Holding has installed innovative pumping and charging systems for electric cars across Italy and France, which have helped reduce CO2 emissions.
UCP Investment Group, which made an investment with Trafigura in the transaction that was completed in 2017, declared that it was still dedicated to the investment. The refinery's largest single shareholder, Rosneft, has around 49% of the company. Numerous of the biggest trading companies in the globe have pulled back from the state-owned corporation due to Russia's full-scale invasion.
Rosneft's ambitions to establish its own trading arm had largely been stymied by the sanctions introduced over Crimea, leaving it more heavily reliant on third-party traders. In July 2022, Trafigura sold its stake in Russia's giant Vostok Oil project, which had once promised to provide their trading business with a further supply of Rosneft barrels.
Trafigura has said it no longer trades Rosneft crude or refined products.