Posts Tagged ‘funds’

Set Up New Financial Plans After A Divorce !!

Set Up A New Financial Plans After A Divorce

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You need to do long term financial planning when you are going through a divorce.

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It’s important that you recover from the split by assessing your situation as singles and setting up new financial plans with a focus on longevity.

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Here are five simple steps for building your financial future after a divorce:

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1. Start with a plan.

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Take a look at your finances before the divorce and then subtract what you’ve lost to give you a good perspective on your fiscal situation.

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Be realistic with yourself and set a budget that you can easily manage with your new single status.

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2. Check your credit.

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Maintaining your credit is an important step in walking away from a divorce financially intact.

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Examine your credit reports and ensure that any name changes or card closures are accurate and taken care of.

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3. Ensure your retirement.

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Confirm that all of your retirement arrangements are intact and that any assets or funds you are entitled to have been taken care of.

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Division of savings and accounts should be paramount in your review.

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4. Obtain the necessary insurance.

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Examine your insurance policies and make sure that you and your property are still covered.

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5. Review your taxes.

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Understanding the tax ramifications of your divorce is a key part of planning for your financial future.

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Confirm that all tax responsibilities between you and your spouse are coordinated appropriately.

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Fund Raising by PE and VCs to Increase by 30-40 percent in 2010

Fund Raising by PE and VCs to Increase by 30-40 percent in 2010

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Private equity (PE) players and venture capitalists (VCs) are back in the market to raise funds.

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Market experts believe that 2010 will see these players raising $13-15 billion, almost as equal to what PE players and VCs raised in 2008.

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PE players and VCs had raised $10-11 billion in 2009, though most of this was in the second half of 2009.

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Experts expect to see a 30-40 per cent rise in fund-raising this calendar year courtesy PE players and VCs.

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β€œClose to 45 funds are either preparing to enter the market or have already hit the road to raise funds.

While I feel that matching the level of 2007 is difficult, the year will be better than 2009,”

said Jagannadham Thunuguntla, equity head, SMC Capitals.

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Industry experts expect that this year will be governed by returns.

Many Industry experts are of view that LPs are going to focus on returns and returns will be more than 20 per cent, better than in 2009.

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β€œI think LPs are still trying to rework their portfolios.

It will be difficult for general partners to convince LPs to invest,” said Thunuguntla.

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Infrastructure, consumer services, education, healthcare, financial and clean technology will be the favoured sectors, say experts.

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One sector that is already in focus is infrastructure.

The players are in the process of raising close to Rs 8,541 crore ($1.78billion) worth of infrastructure funds.

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β€œInvestors will become company-specific rather than sector-specific.

Good sectors can have bad companies and so it makes sense to focus on companies,” said Thunuguntla.

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Fund-raising by VCs already seems to be gaining momentum.

Moreover Industry experts are of view that fund-raising will be more selective this year.

It will be better in 2010 than what was seen in 2008-09.

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However experts say that the number of funds that get allocation from LPs will come down significantly this year.

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QIPs account for 60% of funds raised by India Inc

Qualified Institutional Placements (QIP) contrib-uted Rs 6 out of every Rs 10 raised by Indian companies from domestic sources in January-November 2009. Simply put, Indian companies raised Rs 47,419 crore from domestic sources in the 11 months of this year with QIP funds accounting for Rs 28,726 crore (about 60 per cent).


In the same 11 months of 2008, India Inc raised Rs 2,104 by means of QIPs out of the total Rs 48,807 crore garnered from domestic so-urces, shows a study by New Delhi-based SMC Capitals. This means that in 2009 QIPs account for more than half of total funds raised. Just to put the things in perspective, QIPs am-ounted for only 4.3 per cent of the funds raised during January to November 2008. This underlines the kind of domination QIPs have sho-wn in 2009; and QIPs have truly come to the rescue of cash-starved Indian corporates, said Jagannadham Thun-uguntla, Equity Head at SMC Capitals.

The funds raised thro-ugh IPOs as a percentage of total funds raised through domestic sources is to the tune of 31.7 per cent during January-November, at Rs 15,043 crore compared to that in January-November 2008, which was 34.8 per cent at Rs 16,995 crore, supported heavily by the Reliance Po-wer mega IPO of 2008. The funds mopped up from ADRs/GDRs have jumped up by more than 29 times from $0.1 billion in January to November 2008 to $ 3.15 billion in January to November 2009.

SEBI Allows Auctions for QIBs in FPOs :)

SEBI Allows Auctions for QIBs in FPOs

Market regulator, SEBI has introduced a significant change in the way institutional bidders invest in follow-on public offers by allowing allotments through auctions.

 

The Securities and Exchange Board of India (Sebi) has amended the Issue of Capital and Disclosure Requirements Regulations (ICDR) to allow pure auctions for qualified institutional investors (QIBs) in follow-on public offerings to begin with.


The method may be later extended to initial public offerings.

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Under the new method, bidders will be free to bid at any price above the floor price.

At present, allotments are made at the floor price.

Retail investors, however , will be allotted shares at the floor price.

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The board also decided that the issuer is free to place a cap either in terms of the number of shares or percentage to issued capital of the company so that a single bidder does not garner all the shares on offer, ensuring a wider distribution of shareholding.

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Jagannadham Thunuguntla, Equity Head,Β  SMC Capitals, said this means an institutional investor can continue to bid above the floor price and the QIB allotment will be made to the highest bidder.


β€œThe intent is to enable companies to mop up more funds. Earlier, even when there were huge subscriptions and huge demand for an issue, the company could not get more money. This becomes more relevant in the context of the recently announced divestment plans and FPOs by the government for public sector units,” he said.

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Auction for QIBs is welcome as it would allow risk-taking entities and not just the promoters to be a part of the price discovery process, other analyst said.


A SEBI release issued after the board meeting also said the minimum market capitalisation required by listed firms to sell shares in follow-on offerings has been halved to Rs.5,000 croresΒ  from Rs 10,000 crore.

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Moreover, the market regulator has also made it a mandatory that all listed companies would have to furnish audited or un-audited balance sheets on a half-yearly basis within 45 days from the end of the quarter instead of the current yearly basis.

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This would imply that Indian companies will be required to disclose balance sheet items.


Shareholders would be able to access the statement of assets and liabilities of the company and its solvency position on a half-yearly basis.


Shareholders would receive immense help in making informed investment decisions now and would be in better position to assess the financial health of the companies, with the implementation of this SEBI regulation of mandating frequent disclosure of the asset-liability position of companies by companies.

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IMF Sells 200 Tonnes of Gold to RBI

Gold-surges-alltime-high

IMF Sells 200 Tonnes of Gold to RBI

The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India (RBI) for $6.7 billion in order to shore up the Fund’s finances to enable it to boost the concessional lending to the world’s poorest countries.

This sale of gold to India represents almost half of 403.3 tonnes of total sales volume, which was approved by the IMF Executive Board September 18.

IMF said that the transaction involved daily sales, which were phased over a period of two-week during October 19-30.

The price at which the each daily sale was conducted was set on the basis of market prices prevailing that day, it said.

This deal will increase India’s gold holdings to the tenth largest among the Central banks.

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“I strongly welcome this transaction with the Reserve Bank of India,” Managing Director Dominique Strauss-Kahn stated.

“This transaction is an important step toward achieving the objectives of the IMF”s limited gold sales programme, which are to help put the Fund”s finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries.”

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The IMF, which currently holds 3,217 tonnes of gold, is the third-largest official holder of the precious metal after the US and Germany.


The IMF has made gold sales a key element of its new income model aimed at lowering its dependence on lending revenue to cover expenses.


Under the Fund’s Articles of Agreement, all gold sales must be conducted at prices based on market prices, including direct sales to official holders as in the case of this transaction with India, the IMF said.


The Group of 20 key developed and developing countries, at their April summit in London, agreed the gold sales should allow the IMF to offer favourable conditions on loans to the poorest countries.


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income model

44,000 Crores to be Raised by Indian Firms :)

Indian-corporates-raise-44k crores

Indian corporates raised Rs 21,691 crore through the qualified institutional placement (QIP) route during the first half of this fiscal and the funds raised through this route are expected to double in the second half.

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Mr Jagannadham Thunuguntla, the equity head of SMC Capital, said: “As of now, about 48 companies have received requisite resolutions from either shareholders or their boards to raise the funds through QIP route. The total amount proposed to be raised by these companies is about Rs 44,000 crore.”

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He further said: “As there is no requirement for the approval of the Securities and Exchange Board of India (Sebi) for the QIP issuance. These companies are ready to offer their QIP whenever they are confident about the market conditions.”

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“Some of the prominent names of the corporates that would be raising funds through this route include Tech Mahindra, Essar Oil, Hindalco, RCom, Omaxe, Pantaloon Retail, Jet Airways, Ansal, JSW Steel and L&T,” he said.

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It seems that the Indian promoters have regained their confidence and enthusiasm for fund raising, he added.

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It is turning out that corporates are raising funds through QIP route as a last alternative and not as a preference.

Most of the IPOs launched in the last seven to eight months had put up a flop show.

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The bank funds that are another source of funding are not available for most of the corporates.

Depending upon the sector and profile, banks are asking for premium over interest rates and for smaller companies, banks are not offering loans.

So the corporates that are looking for the expansions would opt for the QIP route to raise the funds, Mr Thunuguntla added.

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