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Fincare SFB Merger with AU SFB   A merger between AU Small Finance Bank and Fincare Small Finance Bank was recently announced. Through this calculated merger, the company's commitment to financial inclusion is strengthened and its offerings are diversified and expanded.   Share exchange ratio fixed at 579 shares of AU SFB for 2,000 shares of Fincare SFB   The parent company of Fincare SFB is Fincare Business Services; after the merger, FBSL's value per share will translate to Rs 116/sh.   At the moment Fincare business services shares are available with Altius at a tentative rate of Rs 73/sh ­ Read More ­ Mobikwik selects banks for IPO   The company is partnering with DAM Capital Advisors Ltd and SBI Capital Markets Ltd to steer the process for the Rs 700 crore IPO   MobiKwik's Rs 1,900 crore IPO (involving a fresh issue of Rs 1,500 crore and an OFS of Rs 400 crore) hit pause after Paytm's turbulent debut in Nov'2022   The company intends to initiate for filing an IPO within the upcoming 12-18 months.   Mobikwik recorded a consolidated profit of Rs 5 crore and its revenue grew by 52% to Rs 208 crore in the Sept'2023 quarter.

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In FY23, Bira 91 suffered a loss of INR 445 Cr   Ankur Jain founded Bira 91 in 2015, and the company claims to sell its beer across 550 towns and cities throughout more than 18 nations. It is the fourth-biggest beer company in India.   In FY23, Bira's operating revenue of 824.3 Cr has increased by 15% from 718.8 Cr in FY22.    Although revenue increased, Bira 91's net loss grew by 12% to 445.4 Cr in FY23 from 396 Cr in FY22. Read More

Saudi Arabia prince interested in buying  multibillion-dollar stake in the IPL!   Indian Premier League (IPL) is the richest cricket league in the world.     Saudi Arabian Crown Prince, Md. bin Salman's advisers have spoken to Indian government officials for an investment of $5B in IPL at a valuation of $30B   Currently Chennai Super Kings(CSK) is the only team whose shares are available for  investors. Their are possibilities of impact on the value of share after the involvement of Saudi Arabia Crown Prince.

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Latest Announcements in Unlisted Space   Covering in this newsletter: Care Health Insurance: IPO news . Fincare: Merger with Au Small Finance Bank. Mobikwik: The company selects banks for IPO.  Bira: Recent results Chennai Super Kings(CSK): Saudi Arabia price expressed interest in buying a multibillion-dollar stake in the IPL.

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Care health insurance IPO coming soon   Looking to raise anywhere between ₹1,500-2,000 crore from the IPO, which could see about 15-20% of equity dilution.   As on Q2FY24, It has a P/BV of 9X. it's competitor, Star Health Insurance, trades 5.8X P/BV.   Funds raised from primary sale are likely to be used towards enhancing solvency and providing growth capital to the health insurer.    It’s solvency at the end of Q2FY24 stood at 1.73 times, where the minimum regulatory requirement is 1.5 times.