Solving financial challenges
|
|
- Cody Turner
- 8 years ago
- Views:
Transcription
1 Solving financial challenges in medical devices & healthcare organizations An action agenda for growth in Medical Devices companies
2 Executive Summary 3 Contents The growth drivers for the Indian medical devices and healthcare industry. 4 Solving financial challenges for growing medium sized medical devices companies. 5 Unleash the business valuation & multiply the valuation to 100 times over. 6 Conclusion 9 2
3 Executive Summary India presents an enormous opportunity to the medical devices and healthcare industry. The recent study by the Boston Consulting Group ( BCG) suggests that Indian medical technology sector has the potential to touch US $ 50 Billion by Globally the medical technology market is expected to be over US $ 600 Billion by The medical devices industry has witnessed double digit growth in the recent years. and this growth trajectory is expected to continue due to rising incidence of chronic diseases, increased urbanization and growing elderly population. One of the key challenge that Indian Medical devices industry specially Small and medium enterprises ( SMEs ) face is the lack of adequate finances and high capital cost. The purpose of this report is to present some of the innovative ways to solve financial challenges in medical devices and healthcare businesses like new sources of raising equity capital, public listing on SME stock exchange, attracting private equity investors from domestic and international markets and wealth creation. For growing medium size medical devices and manufacturing companies seeking to raise capital, an SME listing can be a superior route to growth. SME stock exchange platforms provide a great opportunity to the medium sized medical devices and healthcare companies to raise equity capital for the growth and expansion. SME public listing and issuing an IPO on a SME stock exchange will help unleash the valuation of SME companies and in the process create wealth for all the stakeholders, besides enormous income tax benefits. All medical devices SME companies have the potential to grow into big multinational companies, provided they get adequate capital support. The SMEs now have the great opportunity to grow into big public listed multinational companies by getting themselves listed on a SME stock exchange. We hope that this concise report will help SME medical devices and healthcare enterprises to be well prepared to transform their medium sized company into a successful and wealthy public listed company that continually delivers maximum value to its shareholders. 3
4 The growth drivers for the Indian medical devices and healthcare industry. The Indian medical device market presents an exciting business landscape & opportunities for both multinational and domestic players. As per the market estimates the Indian medical devices market is going to grow at a CAGR of 14.9% ( ) making India one of the fastest growing markets in the world. India, a country of over 1.25 billion people, holds great promise for the medical devices industry. With over 1.25 billion people, out of which 65% people under 35 years of age, India has marked its presence as one of the fastest growing economies across the world. India is one of the largest contributor to the global work force and is expected to rank among the world s top three growing economies and amongst the top three manufacturing destinations in the world by 2020.India has got a large talent pool of qualified medical professionals which gives a competitive edge over some of the other developed nations. Medical tourism and health tourism is often described as a rapidly growing segment in the country. 4
5 Solving financial challenges for growing medium sized medical devices companies. Small and Medium Enterprises Sector The next big revolution across the globe. World over, dedicated SME trading platforms or exchanges are prevalent. Some of the known stock markets for SMEs are AIM (Alternate Investment Market) in UK, TSX Ventures in Canada, GEM (Growth Enterprise Market) in Hong Kong, MOTHERS (Market of the high-growth and emerging stocks) in Japan, Catalist in Singapore and the latest initiative in China Chinext and in India as BSE SME and NSE Emerge. As a matter of fact, NASDAQ also started as an SME exchange. 5
6 Unleash the business valuation & multiply the valuation to 100 times over. The Top 10 advantages of SME public listing for medical devices enterprises seeking to raise capital are stated below: 1. Easier access to equity capital and better funding opportunities: Going public and coming out with an IPO on an SME exchange provides medical devices SMEs with the equity financing opportunities to grow their business from operations to expansion to inorganic acquisitions. Access to equity financing lowers the debt burden leading to lower financing costs and healthier and wealthier balance sheets. 2. Enhanced Value creation and unleashing the business valuation many times over. Valuation of a company is determined by many factors, one of which is class of companywhether public listed or private limited. Going for a public issue of capital will enhance the company s visibility. Greater public awareness gained through media coverage, publicly filed documents and coverage of stock by sector investment analysts will provide the medical devices SMEs with greater profile and credibility. This can result in more diversified groups of investors, which may increase the demand for that company s shares leading to an increase in the company s value and enhanced value creation. 3. Balanced Risk Management for promoters: SME public listing will help medical devices SME promoters and owners to distribute the risk of business efficiently. Listing the company would facilitate expansion of the investor s base, which in turn help company get secondary market for equity financing, including private placement. 4. Easier and efficient entry and exit platforms for private equity and other strategic investors leading to increased participation from private equity investors: The presence of a market-driven transparent trading platform provides with a ready and easy entry and exit for strategic investors. Listing not only offers the investors flexibility for entry and exit, but also the confidence required for any such transactions. The listing would result in an increased participation by venture capital players as they would have a ready, transparent and tax-efficient exit route. 5. No long term capital gain tax: Normally, transfer of unlisted shares attracts long term capital gains tax of 20% and short term capital gains of up to 30%. Whereas in case of listed shares, tax on long term capital 6
7 gains is nil and short term capital gains is 15%, provided the transaction has been subjected to securities transaction tax (STT). This preferential tax treatment on transfer of listed shares is also available to shares listed on SME Exchange. Listing on SME Exchange is a valid tax-planning tool and could, thus, lead to enormous tax saving for medical devices SME entrepreneurs & investors. 6. No tax on fresh equity infusion in the company: Recently the Finance Act, 2012 imposed a tax liability on fresh issuance of equity shares by an unlisted company to investors other than Registered Venture Fund, if the issuance is made at a value more than the fair value. This could make SMEs subject to heavy tax outgo, since they often go for fund raising through equity issuance to investors. Such a tax liability, however, does not attract if the shares of the company are listed on recognize stock exchanges, including SME Exchange. 7. Transform medical devices SME into Global MNCs, corporate image creation, better visibility and strong brand building: Going for a public issue is most likely to enhance the company s visibility. Greater public awareness gained through media coverage, and research coverage by sector investment analysts provide the SMEs with greater visibility and help brand building which otherwise may remain a dream especially for SMEs. 8. SME listing on stock exchange can facilitate growth through strategic investments and SME mergers and acquisitions and private equity from both domestic & international investors: The medical devices SME companies in their effort to have forward or backward integration for growth and expansion may take a strategic stake in other medical devices SMEs. Domestic & International investors repose faith in listed SMEs. Listed SMEs are likely to get strategic investments from both, domestic and international investors as well as from private equity and strategic investors. Instead of a direct cash offering, using shares for an acquisition can be a tax- efficient and costeffective vehicle to finance such a transaction. 9. Incentive mechanism for employees : ESOPs and any other share-based compensation plan of listed company have an immediate and tangible value to employees. This, in turn, serves as a talent retention tool. This can serve to ensure stronger employee commitment to the company s performance and success. 10. Strong Corporate governance & financial controls: Though the requirements for a company listed on SME Exchange are not as stringent as that for Main Board listed companies, nevertheless SME listing ensures that the company has drawn up the internal control systems and set up minimum required framework of corporate governance. This, in turn, lends sustainability to the business. Business Blueprint to transform the medium sized medical devices companies to Global MNCs. Start preparing as soon as possible: Begin the preparation of listing process early enough so that your pre listed company acts and operate like a public company at least a year before the IPO. Commit substantial resources to the IPO process and build the quality management team, robust financial and business infrastructure, corporate governance & investor s relation strategy that will attract the right investors. Don t underestimate the amount of time the IPO journey will take or the level of accountability and corporate governance required by a public limited company. SMEs should start preparing to outperform competitors on key benchmarks: Investors base an average of 70% of their IPO investment decisions on the financial performance of the company especially debt to equity ratio, EPS growth, sales 7
8 growth, ROE, profitability and EBITDA growth. Investors base an average of 30% of their IPO investment decisions on the non-financial factors especially quality of management, corporate strategy and execution, brand strength and corporate governance. SME should be able to articulate an effective equity story backed up by a strong track record of growth which sets you apart from your competitors while maximizing value for owners. Evaluate various Capital raising options: Consider a multi-track approach and the expanding number of capital raising strategies including a strategic sale to a trade or financial buyer, joint venture, private placement and compare all the options to arrive at the best decisions to maximize the value and wealth. qualified team members, improved internal controls and systems and forming a qualified audit committee. Fine tune your internal business operationsespecially working capital management, regulatory risk and rationalizing the business and financial structure. Ensure timely and accurate financial information is available. Appropriate systems and controls are in place with all the financial and management information readily available on monthly and quarterly basis. Address investors current concerns: Recognize the need for enhanced corporate governance especially recruiting 8
9 Conclusion The SME listing window of opportunity is available to medium sized medical devices companies seeking to raise capital for growth and expansion. Advance preparation & planning are critical. Lack of preparation and proper planning can jeopardize an SME IPO. SME Listing and bringing IPO is a long process and involves enormous amount of work and planning like building an equity story, strong financial results, timely and accurate financial and accounting information, strong internal controls, qualified management team, corporate governance and investor s relations. If you want your SME to transform to a public listed company, start getting ready by getting in touch with us. With impetus from various government schemes like formation of Rs. 100 billion SME venture capital fund, India is finally coming to be recognized as a manufacturing destination for sophisticated medical technology. International medical technology companies are also using India as a manufacturing base by either setting up facilities of their own or by acquiring domestic manufacturers. The government is also making efforts to encourage innovation and development projects in medical devices and technologies. The government of India is also looking at relaxing the FDI policy for the cash starved medical devices sector to attract more investments and boost manufacturing thereby presenting an opportunity to Indian medical devices industry to create an environment for promotion of innovation and boosting manufacturing to achieve a sustainable growth in the country. 9
10 Brief Profile of Author : About Us Mr. Rajan Bhatia is an experienced Chartered Accountant and alumnus of prestigious Shri Ram College of Commerce, Delhi University. He is the Founder and Managing Partner of Rajan Bhatia and Company, Chartered Accountants, ( a leading certified accounting, financial and management consulting firm. With over 20+ years of experience across several industry sectors and companies. He possess 20+ years of wealth of experience & expertise in business advisory functions such as funds raising, SME public listing, IPO, cost of reducing finance, import strategies, technology, business planning, financial management, cost controls, establishing financial controls, systems and processes and helped and advised several SMEs grow to the next level. He is a business author, corporate trainer, business advisor, consultant and mentor to several global SMEs and is regularly invited to speak and train at various industry bodies and associations like CII, ASSOCHAM, NASSCOM, AIMA, FICCI, TIE, United Kingdom India Business Council, Indo French chamber of commerce, Indo US Chamber of Commerce, Institute of Chartered Accountants of India. About Rajan Bhatia & Company, Chartered Accountants: Rajan Bhatia & Company is a certified Chartered Accountants and one of the India s leading most trusted financial services firm registered with most trusted and respected The Institute of Chartered Accountants of India. Our mission is to transform SMEs to large public listed MNCs by providing the most trusted, specialized, innovative and highest levels of services to our esteemed clients. We are the trusted service network member of United Kingdom India Business Council, UKIBC to provide India entry services to UK SMEs. We are the esteemed member of several respected industry bodies like NASSCOM, CII and provided services to several SME and MNC organizations. Global CFO is the management consultancy services division of Rajan Bhatia & Co., Chartered Accountants. A leading certified accounting, auditing, financial & management consulting services firm. 10
11 RAJAN BHATIA & COMPANY CHARTERED ACCOUNTANTS rajan@globalcfo.in info@globalcfo.in bhatiarajan4@gmail.com Skype: rajan.bhatia12 Call Us: T : T : Website: India UK USA Canada Dubai Esteemed Members of UKIBC, NASSCOM, CII, ICAI, IFCCI, TIE. Disclaimer The information contained herein is of general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in future. No one should act on such information without appropriate professional advice.
INSTITUTIONAL TRADING PLATFORM
INSTITUTIONAL TRADING PLATFORM Listing of start-ups and growing companies without an IPO ABOUT NSE EMERGE EMERGE is the SME platform of National Stock Exchange, India's premier stock exchange. EMERGE symbolises
More informationGOING PUBLIC IN CANADA
GOING PUBLIC IN CANADA CASSELS BROCK IN BRIEF Canadian law firm of more than 200 lawyers based in Toronto and Vancouver focused on serving the transaction, advocacy and advisory needs of the country s
More informationBUY. KELLTON TECH SOLUTIONS LTD Result Update (CONSOLIDATED): Q1 FY16. CMP 226.50 Target Price 260.00. JANUARY 9 th 2015 SYNOPSIS ISIN: INE164B01022
BUY CMP 226.50 Target Price 260.00 KELLTON TECH SOLUTIONS LTD Result Update (CONSOLIDATED): Q1 FY16 JANUARY 9 th 2015 ISIN: INE164B01022 Index Details Stock Data Sector IT Software Products BSE Code 519602
More informationHigher FDI in Indian Insurance sector a buzz for the industry
Higher FDI in Indian Insurance sector a buzz for the industry The view from Transactions and Restructuring By Sam Evans, Global Insurance Transactions and Restructuring Lead, KPMG in Switzerland, Shashwat
More informationCredit Analysis and Research Ltd. CARE : SUBSC RIBE 4th December, 2012. Financial summary (Consolidated) - Rs. mn
Credit Analysis and Research Ltd. CARE : SUBSC RIBE 4th December, 2012 CARE is a full service credit rating company in India and currently the second largest rating company in India in terms of rating
More informationPEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
BUY CMP 170.30 Target Price 196.00 GEOMETRIC LTD Result Update (CONSOLIDATED): Q2 FY16 DECEMBER 17 th 2015 ISIN: INE797A01021 12 th h, 2013 Index Details Stock Data Sector IT Consulting & Software BSE
More informationtrust When you choose an accountant, you need someone you can trust. This trust does not come from a job title - it needs to be earned.
about us trust When you choose an accountant, you need someone you can trust. This trust does not come from a job title - it needs to be earned. At Duncan & Toplis we understand this and our clients trust
More informationINDUSTRY OVERVIEW SOURCE OF INFORMATION. Report prepared by Euromonitor
The information that appears in this Industry Overview has been prepared by Euromonitor International Limited and reflects estimates of market conditions based on publicly available sources and trade opinion
More informationGetting Started in Stock Market
Getting Started in Stock Market Getting Started in Stock Market Introduction to Stock Market Primary & Secondary Market Demat and Trading Account Why Trade in Stock Market Investment and Types of Investors
More informationBSE Small and Medium Enterprises (SME) Platform. Nehal Vora Chief Regulatory Officer
BSE Small and Medium Enterprises (SME) Platform Nehal Vora Chief Regulatory Officer Agenda for today 1 2 3 About the SME Industry Need for an SME Exchange SME Exchange Platform 4 SME Institutional Trading
More informationfor Analysing Listed Private Equity Companies
8 Steps for Analysing Listed Private Equity Companies Important Notice This document is for information only and does not constitute a recommendation or solicitation to subscribe or purchase any products.
More information------------------------------------ Your Excellencies, distinguished guests, ladies and gentlemen:
Thailand: Regional Capital Market Gateway by Dr. Vorapol Socatiyanurak SEC Secretary-General International Symposium on Asia: the Dynamic Capital Market Frontier July 27, 2012, Plaza Athenee Hotel, Bangkok
More informationThe benefits of private equity investment
The benefits of private equity investment David Wilton, Chief Investment Officer, International Finance Corporation (IFC), looks at how private equity can be beneficial; the different investment strategies
More informationKey findings: revenue performance
About the survey In October 2010, Forbes Insights conducted a survey of small and mediumsized enterprises (businesses with 250 or fewer employees) in Canada and five other countries (China, Italy, Singapore,
More informationGreen Paper of the European Commission on Long-Term Financing of the Economy
June 2013 Green Paper of the European Commission on Long-Term Financing of the Economy Reply of NASDAQ OMX The NASDAQ OMX Group, Inc. delivers trading, exchange technology and public company services across
More informationIntroduction to the guide
Listing Guide Introduction to the guide Purpose of the guide Companies across the globe face local, regional and global challenges in their respective competitive business environments. In order to remain
More informationBUY. ECLERX SERVICES LIMITED (CONSOLIDATED) Result Update: Q1 FY16. CMP 1677.00 Target Price 1880.00. SEPTEMBER 2 nd, 2015 SYNOPSIS ISIN: INE738I01010
BUY CMP 1677.00 Target Price 1880.00 ECLERX SERVICES LIMITED (CONSOLIDATED) Result Update: Q1 FY16 SEPTEMBER 2 nd, 2015 ISIN: INE738I01010 Index Details Stock Data Sector IT & ITes BSE Code 532927 Face
More informationPEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
BUY CMP 196.40 Target Price 225.00 STYLAM INDUSTRIES LIMITED Result Update (PARENT BASIS): Q2 FY16 DECEMBER 16 th. 2015 ISIN: INE239C01012 12 th h, 2013 Index Details Stock Data Sector Plastic Products
More informationA China Expert s Views on How to Invest in U.S. Listed China Based Companies
Page 1 A China Expert s Views on How to Invest in U.S. Listed China Based Companies By Mr. Benjamin Wey President of New York Global Group Visiting Professor of Finance Due to China s explosive GDP growth
More informationThe Center Cannot Hold:
The Center Cannot Hold: Singapore to overtake Switzerland as leading Offshore Hub by 2020 April, 2013 Offshore Centers: 2012 Private Banking Handbook The global private banking industry has AuM of $19.3
More informationBUSINESS CONSULTING & EXIT PLANNING STRATEGIES
BUSINESS CONSULTING & EXIT PLANNING STRATEGIES 455 N. Cityfront Plaza Dr., Suite 2600 Chicago, Illinois 60611-5379 T: F: 312.670.8301 Next Plateau Consulting LLC is a Chicago-based consulting firm dedicated
More informationCompany Overview. Financial Performance
Jan/15 Feb/15 Mar/15 Apr/15 May/15 Jun/15 Jul/15 Aug/15 Sep/15 Oct/15 Nov/15 Dec/15 SPS Finquest Ltd CMP: 84.60 January 13, 2015 Stock Details BSE code 538402 BSE ID SPS Face value ( ) 10 No of shares
More informationTo Our Shareholders A Message from the CEO
To Our Shareholders A Message from the CEO Overview of Fiscal 2007 Performance Looking at consolidated performance during fiscal 2007, or the year ended March 31, 2007, ORIX achieved an 18% rise in net
More informationValuation Services. Global Capabilities Delivered Locally KPMG LLP
Valuation Services Global Capabilities Delivered Locally KPMG LLP Today s global environment has elevated the importance of valuations that support financial reporting, tax planning, litigation, and mergers
More informationSoftware Testing Market India
Software Testing Market India July 2014 Executive Summary Market Software Testing market in India was valued at ~ INR xx bn in 20-- and is projected to grow at a CAGR of ~ x1% between 20--- and 20-- Over
More informationBUPA TO PAY Rs. 191 CRORE TO MAX INDIA TO RAISE STAKE IN MAX BUPA BY 23%.
BUPA TO PAY Rs. 191 CRORE TO MAX INDIA TO RAISE STAKE IN MAX BUPA BY 23%. Max India will own 51% and Bupa will own 49% in Max Bupa post requisite regulatory approvals 23 rd October, 2015, New Delhi Max
More informationReligare records more than 50% increase in Revenue for Q2 FY10 over the corresponding quarter of the previous year
PRESS RELEASE Religare records more than 50% increase in Revenue for Q2 FY10 over the corresponding quarter of the previous year PROVISIONAL CONSOLIDATED FINANCIAL PERFORMANCE FOR THE SECOND QUARTER AND
More informationGlobal Exhibition on Services
Ministry of Commerce & Industry Global Exhibition on Services Concept Note 1 GES Concept Note Global Exhibition on Services (GES) - Concept Note The Government of India, Ministry of Commerce and Industry
More informationSources of Funds: Equity and Debt
Sources of Funds: Equity and Debt The Secrets to Successful Financing 1. Choosing the right sources of capital is a decision that will influence a company for a lifetime. 2. The money is out there; the
More information8.21 % 85.6 % 70 % 17.8 % 5 MUST-KNOW FACTS ON FTSE100 RUPEE DENOMINATED. world s equity Market-cap. UK s equity Market capitalization
5 MUST-KNOW FACTS ON FTSE100 8.21 % world s equity Market-cap 85.6 % UK s equity Market capitalization 100 largest UK listed blue-chip companies 70 % of FTSE100 represented by MNC s 17.8 % 3 years return
More informationCayman Islands Companies: The Asia Connection
BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS CYPRUS DUBAI HONG KONG LONDON MAURITIUS MOSCOW SÃO PAULO SINGAPORE conyersdill.com December 2010 Cayman Islands Companies: The Asia Connection The Cayman Islands
More informationPrivate Equity in Asia
Private Equity in Asia October 21 Asia private equity, in particular China, has increasingly attracted attention from institutional investors due to the region s faster economic recovery, greater growth
More informationRBC EQUITY PLAN ADMINISTRATION AND TRUSTEE SERVICES
RBC EQUITY PLAN ADMINISTRATION AND TRUSTEE SERVICES EMPLOYEE EQUITY PLAN ADMINISTRATION AND TRUSTEE SERVICES Equity plans represent a vital part of employee compensation, being designed to recruit, reward
More informationCOMPANY CONTACTS: Jay S. Hennick Founder & CEO. D. Scott Patterson President & COO (416) 960-9500
COMPANY CONTACTS: Jay S. Hennick Founder & CEO D. Scott Patterson President & COO John B. Friedrichsen Senior Vice President & CFO (416) 960-9500 FOR IMMEDIATE RELEASE FirstService Reports Record Fourth
More informationInvestment Technology Group Investor Overview
Investment Technology Group Investor Overview ITG Inc., member NASD, SIPC. 2006 All rights reserved. Not to be reproduced without permission. 91306-61314 Safe Harbor Statement This document may contain
More informationMerger & Acquisition, Integration and Divestiture
Financial Services the way we do it Merger & Acquisition, Integration and Divestiture Financial institutions are re-focusing their M&A strategies and objectives while aligning their organizations to adapt
More informationwww.pvpglobal.com SECTOR: REALTY REPORTING DATE: 31 ST MAY, 2016 PVP Ventures Ltd
31 st May, 2016 TABLE 1 MARKET DATA (STANDALONE) (As on 31 st May, 2016) NSE Code PVP NSE Market Price ( ) 4.50 NSE Market Cap. ( Cr.) 118.85 Sector Realty Face Value ( ) 10.00 Equity ( Cr.) 245.05 52
More informationPEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)
BUY CMP 514.75 Target Price 590.00 DOC CODE: FOTL_090220164_3 IGARASHI MOTORS INDIA LTD Result Update (PARENT BASIS): Q3 FY16 FEBRUARY 9 th 2016 ISIN: INE188B01013 12 th h, 2013 Index Details Stock Data
More informationStaying Agile Surging Ahead
SAP ENTERPRISE SUPPORT Staying Agile Surging Ahead for the quarter ending 31 st December, 2010 February 3, 2011 Omnitech DR BCP Consulting Services Agenda Company Overview Financial Management s View Key
More informationTop 10 IPO readiness challenges. A Measures that matter SM global study executive summary!@#
Top 10 IPO readiness challenges A Measures that matter SM global study executive summary!@# Dear friends Challenging markets may come and go, but companies that outperform the overall market prepare early
More informationBillion list for the Asia-Pacific region by US magazine Forbes.
Only Cable company featured in Forbes Magazine Rated among the top 22 Indian companies featured in the latest 200 Best under a Billion list for the Asia-Pacific region by US magazine Forbes. Cords Cable
More informationDiscussion Paper on 1. Alternate Capital Raising Platform and 2. Review of other regulatory requirements
Discussion Paper on 1. Alternate Capital Raising Platform and 2. Review of other regulatory requirements 1. Background 1.1. With a view to provide easier exit options for informed investors like Angel
More informationDelivering sustainable global growth
Delivering sustainable global growth Driving profits by growing third party assets Keith Skeoch CEO, Standard Life Investments This presentation may contain certain forward-looking statements with respect
More informationAbout Standard Chartered
About Standard Chartered Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered
More informationThe ABCs of Venture Capital A Primer from the National Venture Capital Association
The ABCs of Venture Capital A Primer from the National Venture Capital Association Courtesy of the Entrepreneurs Forum of the Great Northwest c/o Tipperary Press P.O. Box 81 Spokane, WA 99210 e-mail: EFGNW@aol.com
More informationEnterprise Ireland. Finance 4 Growth Sourcing External Funding. June 2012
Enterprise Ireland Finance 4 Growth Sourcing External Funding June 2012 Cormac Mohan FM Accountants & Business Advisers cmohan@fmaccountants.ie www.fmaccountants.ie Agenda / Contents : Introduction Cash
More informationReport of the Alternative Investment Expert Group: Developing European Private Equity
Report of the Alternative Investment Expert Group: Developing European Private Equity Response from The Association of Investment Trust Companies The Association of Investment Trust Companies (AITC) welcomes
More information[Indian Stem Cell Banking Market: Trends & Opportunities (2012-2017)]
[Indian Stem Cell Banking Market: Trends & Opportunities (2012-2017)] Executive Summary Stem Cells have a remarkable ability to develop in various body cells of a human. These occur in the earliest stages
More informationCFO On Demand Services www.cfo-bridge.in
The +Ve difference CFO On Demand Services www.cfo-bridge.in The +Ve difference Agenda Background Bridging the Gap: Complexity to Simplicity Mr. CFO CFO Bridge : Core Team Services We Offer Few of Our Current
More informationKotak Mahindra Bank and ING Vysya Bank Announce Merger
Media Release Kotak Mahindra Bank and ING Vysya Bank Announce Merger Significant complementarity and growth potential drives merger Compelling Revenue synergies Share exchange ratio of 725 shares for 1,000
More informationHow international expansion is a driver of performance for insurers in uncertain times
How international expansion is a driver of performance for insurers in uncertain times Accenture Global Multi-Country Operating Model Survey May 2009 Copyright 2009 Accenture. All rights reserved. Accenture,
More informationHighlights: Contd...2...
Highlights: Acquisition to be EPS Accretive, Consistently Profit making company for last 53 years. 100% stake acquired in an all cash deal, Total investment of USD 400 Mln. Synergies, to expand revenues
More informationInvestment Banking. Equity Capital Markets
Investment Banking Equity Capital Markets Raymond James Capital Markets Our mission is to remain a premier investment bank built on trust and relationships. We combine insightful, highquality research
More informationIndiabulls Housing Finance Limited (CIN: L65922DL2005PLC136029) Unaudited Financial Results Q1 FY 2014-15 July 24, 2014
Indiabulls Housing Finance Limited (CIN: L65922DL2005PLC136029) Unaudited Financial Results Q1 FY 2014-15 July 24, 2014 Safe Harbour Statement This document contains certain forward-looking statements
More informationFinancial Repression: A Driving Force for Mergers and Acquisitions?
Strategy / Investment Financial Repression: A Driving Force for Mergers and Acquisitions? International capital markets have seen a growing number of corporate mergers and acquisitions (M&A) over the past
More informationPEI: New Strategies for Risk Management in Private Equity
PEI: New Strategies for Risk Management in Private Equity Risk in non-traditional secondary strategies By Augustin Duhamel and Vidar Bergum, 17Capital Introduction As the private equity industry has matured,
More informationKey Steps Before Talking to Venture Capitalists
Key Steps Before Talking to Venture Capitalists Some entrepreneurs may not be familiar with raising institutional capital to grow their businesses. Expansion plans beyond common organic growth are typically
More informationTrends in the Global Capital Markets Industry: Sell-Side Firms
What you need to know CAPITAL MARKETS Trends in the Global Capital Markets Industry: Sell-Side Firms Key emerging trends across sell-side firms and their implications on the global capital markets industry
More informationSTATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2015
Hinduja Global Solutions Limited (CIN: L92199MH1995PLC084610) Regd. Office : 171, Dr. Annie Besant Road, Worli, Mumbai - 400018. Contact no.: 022-2496 0707, Fax: 022-2497 4208 Website: www.teamhgs.com
More informationBUSINESS FINANCING IN TANZANIA (CHALLENGES & OPPORTUNITIES)
BUSINESS FINANCING IN TANZANIA (CHALLENGES & OPPORTUNITIES) 1 The Agenda Why long term financing? The current status and existing alternatives Challenges of raising long term capital in Tanzania Capital
More informationA Survey of SME Finance and the Emerging Alternatives for Access to Capital
A Survey of SME Finance and the Emerging Alternatives for Access to Capital Jim Faith Trade and Export Finance Online Global California December 3, 2014 2014 TEFO. All Rights Reserved Agenda Section 1:
More informationMuthoot finance ltd. (mfl) IPO note
Muthoot finance ltd. (mfl) IPO note Issue Details Issue Date April 18, 2011 April 21, 2011 Issue Size Rs. 8.24-9.01bn Price Band Rs. 160-175 FV Rs.10 Fresh issue 51.5 mn equity shares QIB 50% Non Institutional/HNIs
More informationIN THIS REVIEW, WE HAVE ARRANGED OUR BUSINESSES AROUND OUR TWO DISTINCT CUSTOMER
Review of TD s businesses REVIEW OF TD S BUSINESSES PROFILES OF TD S BUSINESSES TODAY IN THIS REVIEW, WE HAVE ARRANGED OUR BUSINESSES AROUND OUR TWO DISTINCT CUSTOMER BASES RETAIL AND WHOLESALE TO SHOW
More informationPunjab National Bank
Punjab National Bank Punjab National Bank History of the Bank Sardar Dayal Singh Majithia Lala Harkishan lal E.C. Jessawala Rai Bahadur Lala Kali Prosanna Roy Lala Prabhu Dayal Bakshi Jaishi Ram Lala Dholan
More informationSphere Global Services Limited
Sphere Global Services Limited Date: 13 th January, 216 Stock Performance Details Shareholding Details September 215 Current Price : ` 3.95^ Face Value : ` 1 per share 52 wk High / Low : ` 9.35 / 31.1
More informationReliance Money makes Trading Mobile ; unveils first-of-its kind Mobile Trading Portal
Press Release Reliance Money makes Trading Mobile ; unveils first-of-its kind Mobile Trading Portal First financial services company to offer trading in both equities and commodities across mobile platforms
More informationPrivate Equity investment in Recruitment companies - what are we looking for? Chris Harper Managing Director Baird Capital
Private Equity investment in Recruitment companies - what are we looking for? Chris Harper Managing Director Baird Capital About The Presenter Chris Harper 25 years within private equity Managing Director
More informationData Security Council of India (DSCI) Response to
Data Security Council of India (DSCI) Response to A Comprehensive Approach on Personal Data Protection in the European Union Communication from the Commission to the European Parliament, The Council, The
More informationRole of Financial Reporting & Disclosures in Corporate Governance
Role of Financial Reporting & Disclosures in Corporate Governance - Mohit Baijal 1 Background A financial reporting system supported by good governance, high quality standards and sound regulatory framework
More informationInvesting. RBC Jantzi Funds. Socially responsible choices for your investment portfolio
Investing RBC Jantzi Funds Socially responsible choices for your investment portfolio 2 Socially Responsible Investing RBC Jantzi Funds 3 The right choice now. The right choice for the future. The right
More informationFAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013
FAQs on Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013 Q.1. What is an Institutional Trading Platform and is it different from
More informationAl Razzi Holding Company
4 February 214 Analyst Analyst Title Recomm. Subsidiaries, 213 Stake (%) Shifa Healthcare 1% Warba Medical Supplies 8% Dawaa Manufacturing 99% Environmental Industries Held through Shifa Healthcare NR
More informationWealth Management: Global Private Banking
Michael Lagopoulos Head of Presentation to Analysts & Institutional Investors Toronto, April 22, 2005 Our global footprint 20,000 HNW Households 27 offices in 20 countries RBC is a top 20 global private
More information-Translation- 2. Related Parties Vintage Engineering Public Company Limited ( Company or VTE ) Green Earth Power (Thailand) Company Limited ( GEP )
Information Memorandum of Vintage Engineering Public Limited Company Regarding Related Transaction on the Rendering of Construction Service for The 220MW Solar Power Plant Project located in Minbu, Myanmar
More informationELEFTHO : Supporting Business Incubators & technology parks.
ELEFTHO : Supporting Business Incubators & technology parks. Region of Central Macedonia Task Page 1 of 14 Contents Description of policy... 3 Name of the policy... 3 Responsible body... 3 Implementation
More informationROMA GROUP LIMITED. (Incorporated in the Cayman Islands with limited liability) (Stock code: 8072)
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationGlobal Leadership Conference 2014. Andrea Vogel EMEIA Market Leader, Strategic Growth Markets
Global Leadership Conference 2014 Andrea Vogel EMEIA Market Leader, Strategic Growth Markets The EY G20 Entrepreneurship Barometer 2013 The power of three Together, governments, entrepreneurs and corporations
More informationHow does a venture capitalist appraise investment opportunities?
1 How does a venture capitalist appraise investment opportunities? Michael Queen - Finance Director, 3i Group plc A presentation to: 23 Pensions Convention 2 June 23 A How presentation does a venture to:
More informationFinancial Strategies for. Formation. & Transformation
Financial Strategies for Formation & Transformation Financial advisory services to clients across industries About Dawn Consulting Whether you're building a new business or transforming an existing business,
More informationTRANSITIONING PCCW David Prince, Group CFO. CLSA Investors Forum Hong Kong - 15 May, 2001
TRANSITIONING PCCW David Prince, Group CFO CLSA Investors Forum Hong Kong - 15 May, 2001 FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements that involve risks and uncertainties.
More informationHow To Invest In Panin Life
June 4 th 2013 Koichiro Watanabe President and Representative Director The Dai-ichi Life Insurance Company, Limited Code: 8750 (TSE First section) Investment in an Indonesian Life Insurance Company, PT
More informationBusiness Financing for Foreign Investors in India
Business Financing for Foreign Investors in India Kuala Lumpur-September 25, 2008 at 3.00 pm Address by Mr. Rakesh Shah, Chairman, EEPC India It is a privilege to be in the midst of this distinguished
More informationIdea to Exit: Financing
Seminar Series: Startup Law 101 for Entrepreneurs Idea to Exit: Financing Patrick Pohlen and Ben Potter, Latham & Watkins LLP October 2, 2014 Latham & Watkins operates worldwide as a limited liability
More informationMergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry
Mergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry Improving Industry Health to Bolster Global Merger Activity in 2014 NC3B-F1 January 2013 Contents Section Slide Number
More informationEntrepreneurs Assess Their M&A Options
2015 SURVEY RESULTS Entrepreneurs Assess Their M&A Options Research among business leaders reveals excitement about future transactions and positive outlook for near-term M&A. INTRODUCTION Creating value
More information1,477 1,688-1,721. Rs.87.7-99.5bn
Larsen and Toubro Finance Holdings (LTFHL) IPO Note: Subscribe 26 th July, 2011 Incorporated in 1994, Larsen and Toubro Finance Holdings is registered with the RBI as an NBFC- Non-Deposit Taking-Systemically
More informationKeynote Speech delivered in the 2007 Financial Planning Conference. Organized by the Institute of Financial Planners.
Keynote Speech delivered in the 2007 Financial Planning Conference Organized by the Institute of Financial Planners 2 November 2007 Best Practice for Financial Planners Alexa Lam Executive Director Intermediaries
More informationFinancial Model Course
Financial Model Course IMS Proschool offers Financial Modeling course & training in Mumbai, Pune, Bangalore, Delhi, Thane, Chennai, Hyderabad, Kolkata, Ahmadabad & Online with Exam Certification from NSE
More informationCHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ( GEM ) OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE STOCK EXCHANGE )
CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ( GEM ) OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE STOCK EXCHANGE ) GEM has been positioned as a market designed to accommodate companies to which a
More informationSulAmérica. UBS Global Healthcare Services Conference February 11-13, 2008 New York
SulAmérica UBS Global Healthcare Services Conference February 11-13, 2008 New York Disclaimer The material that follows is a presentation of general background information about Sul América S.A. ( SulAmérica
More informationHMWC CPA's&Business Advisors, Orange County, California
Business Assurance Services Tax Consulting Services Business Advisory Services Estate Planning Financial Planning Pension & Human Resources Consulting Information Technology Services Mergers, Acquisitions
More informationGOLDMAN SACHS REPORTS THIRD QUARTER LOSS PER COMMON SHARE OF $0.84
The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS THIRD QUARTER LOSS PER COMMON SHARE OF $0.84 NEW YORK, October 18, 2011 - The Goldman Sachs Group, Inc. (NYSE:
More informationSecurities and Exchange Board of India. Stock exchanges/ platforms of stock exchanges for Small and Medium Enterprises
Securities and Exchange Board of India Stock exchanges/ platforms of stock exchanges for Small and Medium Enterprises 1. Background: 1.1. The Board had approved a Framework for recognition and supervision
More informationAPRIL 2015. Economic Impact of AIM
APRIL 2015 Economic Impact of AIM Foreword AIM, which is 20 years old this year, has weathered several economic storms over the past two decades, but has remained true to its core purpose of providing
More informationPrivate and public financing for the acquisition of SMEs
16.15 > 17.30 Workshop 4 Private and public financing for the acquisition of SMEs Moderator : Maurice Olivier CEO, BlueOcean Ventures Switzerland 16.15 > 17.30 Workshop 4 Private and public financing for
More informationP.O Box: 2152 Safat, Kuwait www.dimah.com.kw
T +965 1844 000 +965 2295 5700 F +965 2241 4270 E info@dimah.com.kw P.O Box: 2152 Safat, Kuwait www.dimah.com.kw Khaled Bin Al Waleed St Al Dhow Tower, Floor 26-27 Contents. Dimah Capital. Our Mission.
More informationMedium-term Business Plan
Mitsubishi UFJ Financial Group, Inc. Medium-term Business Plan Tokyo, May 15, 2015 --- Mitsubishi UFJ Financial Group, Inc. (MUFG) announced today that it has formulated its medium-term business plan for
More informationRaising Venture Capital: An Entrepreneurial & GP/LP Perspective
Global Private Equity Investing Conference April 2, 2008 Raising Venture Capital: An Entrepreneurial & GP/LP Perspective Pradeep Pandey Board Member, TiE Silicon Valley CEO, Gelina, Inc. Agenda An Entrepreneur
More informationACQUISITION OF IODM PTY LTD CLOUD BASED AUTOMATED DEBTOR MANAGEMENT SOLUTION
ACQUISITION OF IODM PTY LTD CLOUD BASED AUTOMATED DEBTOR MANAGEMENT SOLUTION ABN 28 102 747 133 ASX Release 29 December 2015 Level 1/330 Churchill Avenue Subiaco WA 6008 Ph: +61 8 9200-4482 Fax: +61 8
More information