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The stake sale, which is the first external fundraising exercise for Rare Rabbit, could be an investment of up to $40 million by Tata Capital, at a valuation of $300 million

Tata capital in talks with fashion brand Rare Rabbit to purchase at $300 million valuation: Report

Tata capital may purchase fashion brand Rare Rabbit at $300 million valuation: Report

<h2>The stake sale, which is the first external fundraising exercise for Rare Rabbit, could be an investment of up to $40 million by Tata Capital, at a valuation of $300 million</h2>

Tata Capital is looking to purchase a roughly 13% stake in fashion brand Rare Rabbit at a valuation of $300 million, reported Reuters. As per the report, Tata is looking to bet on the country's affluent shoppers.
<h3>Tata's Rare Rabbit investment</h3>
This likely investment by Tatas on Rare Rabbit comes at a time when its rivals such as billionaire Mukesh Ambani's Reliance Retail are also gravitating towards premium fashion offerings. As per Reuters, Tata has held talks with Rare Rabbit and is conducting due diligence after issuing a term sheet to invest up to $40 million to grab a stake in the niche fashion brand that sells men's shirts and other apparel. This stake sale talk is Rare Rabbit's first external fundraising exercise.
Also Read: <a href="https://www.editorji.com/business-news/tata-plans-new-iphone-assembly-plants-as-apple-looks-to-expand-in-india-1702006643447">Tata plans new iPhone assembly plants as Apple looks to expand in India</a>
The report also mentioned that in competition with Tata local Indian private equity fund A91 Partners is also eyeing a stake in the company.
Tata Capital is the financial services arm of India's $144 billion salt-to-aviation Tata conglomerate. Rare Rabbit was started in 2015 by an Indian family-run company Radhamani Textiles. It sells shirts, jeans, jackets and sneakers that are priced as low as $20 and all the way up to the high-end range for most Indians at $80. The company has 90 retail outlets in India. It also sells its products online.&nbsp;&nbsp;

Government which holds 73.18% stake in IRCON is looking to sell 7.53 crore equity shares constituting 8% of stake to raise Rs 1,100 crore. The offer for sale will be open for non-retail investors on Thursday and for retail investors on Friday

Government looking to raise Rs 1,100 crore by selling 8% stake in IRCON

Government which holds 73.18% stake in IRCON is looking to sell 7.53 crore equity shares constituting 8% of stake to raise Rs 1,100 crore. The offer for sale will be open for non-retail investors on Thursday and for retail investors on Friday

The government will sell upto 8% stake in &nbsp;Indian Railway Construction International Limited (IRCON) through an offer for sale beginning on Thursday. Through this the government is looking to raise about Rs 1,100 crore
<h3>IRCON Stake Sale</h3>
The government will sell about 7.53 crore equity shares at a floor price of Rs 154 apiece. The government currently holds 73.18% in IRCON. Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey posted in X (formerly Twitter) that the offer for sale opens for non-retail investors on Thursday and on Friday for retail investors.
<blockquote class="twitter-tweet">
Offer for Sale in IRCON opens tomorrow for Non Retail investors. Retail investors can bid on Friday. Govt. would divest 8% equity including Green Shoe option. <a href="https://t.co/AiXTqnxQLj">pic.twitter.com/AiXTqnxQLj</a>
&mdash; Secretary, DIPAM (@SecyDIPAM) <a href="https://twitter.com/SecyDIPAM/status/1732388870434763164?ref_src=twsrc%5Etfw">December 6, 2023</a></blockquote>
As per PTI, so far in the current fiscal, the government has raised Rs 8,859 crore by selling minority stake in CPSEs. The Budget has set a target of Rs 51,000 crore to be mopped up from PSU disinvestment.
Also Watch: <a href="https://www.editorji.com/business-news/economy/5-billion-deep-sea-project-ongc-to-start-oil-production-in-krishna-godavari-basin-1699872284612">$5 Billion Deep-Sea Project: ONGC to start oil production in Krishna Godavari basin</a>
Meanwhile, the IRCON shares fell as much as 8.37% on thursday during the early trade, the lowest since Nov. 17. On a year-to-date basis, the stock has risen 166.28%
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The latest notification from the Ministry of Corporate Affairs (MCA) mandates the dematerialization of shares for private companies by 30 Sept 2024. 

Government mandates private companies' shares dematerialization by Sept 2024

Dematerializing shares benefits investors by reducing risks, enabling instant transfers, and curbing fraud. It also saves companies costs, aids regulators in preventing malpractices, and ensures secure electronic trading

Government mandates private companies' shares dematerialization by 2024

<h2>Dematerializing shares benefits investors by reducing risks, enabling instant transfers, and curbing fraud. It also saves companies costs, aids regulators in preventing malpractices, and ensures secure electronic trading</h2>

The government has mandated that all private companies, except small businesses, dematerialize their shares by September 30, 2024. The Ministry of Corporate Affairs introduced a new clause in the Companies (Prospectus and Allotment of Securities) regulation, requiring private companies, not classified as small companies, to issue securities only in dematerialized form and facilitate the dematerialization of all their securities as per the Depositories Act, 1996.
Under the new rule, private companies falling outside the small company category, as per audited financial statements ending on or after March 31, 2023, must comply within 18 months of the closure of the respective financial year. Once a company ceases to be categorized as 'small,' it has 18 months to dematerialize its shares.
This move, welcomed by industry experts, is expected to bolster the integrity of financial markets and reduce fraudulent activities associated with physical shares. As of January, approximately 95% of active registered companies (1.4 million out of 1.47 million) were private companies, making this regulation applicable to a vast majority of businesses.
Dematerializing shares offers numerous advantages, including minimizing the risk of loss, theft, and fraud for investors, enabling instant transfer and crediting of new shares, reducing companies' expenses related to printing and distributing physical certificates, and aiding regulators in curbing malpractices such as benami transactions and money laundering. Additionally, it will enhance tax collection efficiency and contribute to the formalisation of the economy.
This move is also expected to benefit the country's depositories, specifically Central Depository Services (CDSL) and National Securities Depository (NSDL). As a result, CDSL's shares, exclusively listed on the National Stock Exchange, are anticipated to gain value. Furthermore, NSDL has filed its prospectus for an initial public offering (IPO) with market regulator Sebi, with the IPO expected to hit the market before the end of the current calendar year.
<h3>Dematerializing shares</h3>
Dematerializing shares requires all private companies to convert their physical shares into electronic or digital form, a process known as dematerialization. This enhances transparency, reduces fraud, and ensures that shares are electronically stored and traded, leading to a more secure and efficient financial market.
Also Watch: <a href="https://www.editorji.com/business-news/markets/ipo-2023-over-half-a-dozen-companies-to-go-public-around-diwali-1698123654450">IPO 2023: Over half a dozen companies to go public around Diwali</a>

Due to the growing travel industry, Private Equity firms are most likely interested in the stake sale offered by the VIP Industries

VIP Industries' promoters mull stake sale worth $1 billion: Report

<h2>Due to the growing travel industry, Private Equity firms are most likely interested in the stake sale offered by the VIP Industries</h2>

Stake Sale:&nbsp;The promoters of India's largest luggage and travel accessories maker VIP Industries are considering to sell the company's stake reported Mint. As per the report the deal which includes a potential open offer could be worth as much as $1 billion. The deal will see the exit of the promoters from the business.&nbsp;
The promoters have roped in the investment banking team of InCred Capital to manage the sale.
<h3>Booming Travel Sector</h3>
Mint quoted an Investment Banker who is aware of the deal and said that Private Equity firms are most likely&nbsp; interested in the deal due to India's growing travel market.
Also Read: <a href="https://www.editorji.com/business-news/saregama-acquires-majority-stake-in-pocket-aces-a-digital-entertainment-company-1695923885378">Saregama acquires majority stake in Pocket Aces, a digital entertainment company</a>
The travel industry in India is growing rapidly due to increased income, an expanding travel infrastructure and growing online booking. This leads to a rise in demand for luggage. As per Mint,&nbsp;
VIP Industries, which holds a substantial market share in this rapidly growing sector, offers a lucrative opportunity for PE firms to tap the burgeoning demand for travel-related products from India&rsquo;s increasingly mobile middle class.
&ldquo;Indians are travelling more. Having a single suitcase or satchel for travel at home will no longer suffice for the growing Indian middle class. PE firms interested in the Indian consumer will consider this aspect when bidding for the asset," an investment banker aware of the deal told Mint.
The banker further added that the deal might take a few months to complete the transaction.&nbsp;
<h3>VIP Indsutries</h3>
Over 50% of VIP Industries is owned by Dilip Paramal led promoters group. The market value of VIP Industries is around ₹9,310 crore, valuing the promoters&rsquo; stake at about ₹4,650 crore. Funds acquired by Premji Invest acquired a 1.66% stake from the promoters of VIP Industries in September 2021. As per ICICI Securities analyst report, VIP has close to 44% market share in the organized luggage category.
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Just two days after Mankind Pharma successfully listed on the stock exchanges, media reports about I-T raid in the company's Delhi office brought a 5.5 per cent dip in its share price

I-T dept searches Mankind Pharma's Delhi office, share price drops 5.5%

I-T dept reportedly searches Mankind Pharma's Delhi office, share price drops 5.5%

Just two days after Mankind Pharma successfully listed on the stock exchanges, media reports about I-T raids in the company's Delhi office lead to a 5.5 per cent dip in its share price

May 11 saw a 5.5 percent decline in Mankind Pharma shares due to media reports that the income tax department had searched the business' Delhi office.
CNBC-TV18 report came just two days after the company made a strong market entry.
Mankind Pharma listed on the exchanges on May 9 for Rs 1,300, a 20 percent premium above the IPO price of Rs 1,080. Its IPO, the first significant one of 2023, for a pharmaceutical company, received over 15.32 times as much interest.
An earlier rating of "outperform" and a target price of Rs. 1,400 per share, given by international brokerage firm Macquarie Research, indicated a possible increase of 30% from the company's issue price.
It predicted that the margin would increase from 22 percent to 28 percent and the net profit would more than double from Rs 1,300 crore in FY23 to Rs 2,800 crore in FY26 as a result of the company's growth potential in the chronic segment.

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