In today’s briefing:
- [Week 16] Namaste India 🙏 | More Smoke for Bandhan?
- Rain Industries (RAIN.NSE)
- Revfin gets $14m from Omidyar Network, others to bolster EV loans for Indians
- Brainbees Solutions (FirstCry) Pre-IPO Tearsheet
[Week 16] Namaste India 🙏 | More Smoke for Bandhan?
- The upcoming earnings season, along with the forthcoming Budget and Elections, should all contribute to keeping the undertone bullish for the NIFTY Index (NIFTY INDEX).
- Bandhan Bank Ltd (BANDHAN IN) reported a minor dip in collections for the non-EEB portfolio, which has probably spooked the street.
- Other names discussed include MMFS, POONAWAL, AUBANK, LTFH, and AAVAS.
Rain Industries (RAIN.NSE)
Rain Industries is an Indian small-cap company (~$660M) that manufactures 2 carbon-based inputs for Aluminium Industry (10% of global market share).
It also has a cement & value-added chemical business
The Company is ignored by market likely due to its ‘commodity’ nature, debt on their balance sheet and small market cap which drives most investors away.
Revfin gets $14m from Omidyar Network, others to bolster EV loans for Indians
- As electric vehicles gain popularity across the globe, they are still typically more expensive than gasoline-powered vehicles.
- One area where EVs still lag behind is auto financing, which – in its regular iteration – does not necessarily cater to EVs’ specific needs.
- Indian fintech startup Revfin aims to change that, and, in turn, make EVs more accessible to consumers.
Brainbees Solutions (FirstCry) Pre-IPO Tearsheet
- FirstCry (0172540D IN) seeks to raise up to US$700m in its upcoming India IPO. The deal will be run by Kotak, Morgan Stanley, Bank of America, JM Financial and Avendus.
- FirstCry is India’s largest multi-channel retailing platform for Mothers’, Babies’ and Kids’ products in terms of GMV, for the year ending Dec 2022 (9M23), according to RedSeer.
- In India, FirstCry sells Mothers’, Babies’ and Kids’ products through its online platform, company-owned modern stores, franchisee-owned modern stores and general trade retail distribution.
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