Som Distilleries Expands Footprint with Greenfield Project and Fundraising Initiative

Som Distilleries and Breweries Limited (SDBL) has announced a major expansion move through its subsidiary, Woodpecker Greenagri Nutrients Private Limited. The company is setting up a greenfield project at Khimsepur, Farrukhabad in Uttar Pradesh, comprising a brewery, distillery, and other manufacturing facilities. The project, with an estimated investment of ₹600 crore, is expected to strengthen the company’s market presence across India.

The share price of Som Distilleries was trading 1.70% lower as of 10:59 AM on March 3, 2025

Strategic Location and Market Potential

The project will be built on a 40-acre land parcel allocated by the Uttar Pradesh State Industrial Development Authority (UPSIDA). Uttar Pradesh, being one of the largest consumer markets in the country, offers a promising opportunity for expansion. The state’s favourable industrial policies and vast customer base make it an attractive destination for the company’s next phase of growth.

Regulatory Approvals and Project Timeline

While the company has secured land for the project, construction will commence following necessary regulatory approvals from the Uttar Pradesh government. The move is aligned with Som Distilleries’ broader vision of becoming a truly pan-India player in the alcoholic beverages industry.

Board Approves Preferential Issue for Fundraising

In a parallel development, the Board of Directors of Som Distilleries has approved a preferential issue to raise capital. The company will issue up to 20 lakh equity shares at ₹112 per share (including a premium of ₹110) to its identified promoter group. This fundraising initiative is aimed at meeting the company’s operational and expansion needs.

Objectives of the Fundraising Initiative

The funds raised through this preferential issue will primarily be used for:

  • Working Capital: To support the increasing demand for capital as the company expands its geographical reach, especially during peak seasons.
  • Operational Expenditure: Covering costs related to marketing, salaries, utilities, maintenance, commissions, and other recurring expenses.
  • General Corporate Purposes: Ensuring financial stability and positioning the company for further growth opportunities.

Conclusion 

With its ambitious expansion strategy and fresh capital infusion, Som Distilleries is reinforcing its presence in the Indian market. The greenfield project in Uttar Pradesh is a significant step towards tapping into a high-consumption region, while the preferential issue aims to strengthen the company’s financial position.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Adani Power Share Price Reacts to ₹80.46 Crore GST Demand Notice

Adani Power Limited (APL), a subsidiary of the Adani Group, is the largest private-sector thermal power producer in India. With an operational capacity of 17.55 GW, its power plants are strategically spread across Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Gujarat, Madhya Pradesh, Tamil Nadu, and Jharkhand. s.

GST Demand Order: A Legal Dispute in Progress

Adani Power recently disclosed a demand order issued by the Joint Commissioner of State Tax, Nava Raipur, Chhattisgarh, under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements. The order concerns a GST demand of ₹80.46 crore for the financial year 2020-21, primarily attributed to an alleged non-reversal of GST credit. Additionally, an interest demand of ₹69.24 crore and a penalty of ₹8.05 crore have been imposed.

However, the company has refuted the claims, deeming the demand erroneous. Adani Power has announced its intention to explore legal remedies, including a rectification application and an appeal. Despite the significant financial implications, the company has reassured stakeholders that the order does not impact its financial, operational, or other activities.

Adani Power Share Price Performance

As of 10:34 AM on March 3, 2025, Adani Power’s share price was trading flat, up marginally by 0.09%. The stock hit an intraday high of ₹497 on the NSE. The 52-week high and low for the stock have been ₹895.85 and a low of ₹432.

February saw a 6.7% decline in the stock price, contributing to a 9.05% drop on a year-to-date (YTD) basis. 

Q3FY25 Financial Performance

In its latest earnings report for the third quarter (Q3) of the financial year 2024-25, Adani Power posted an 11.7% rise in consolidated net profit, reaching ₹3,057.21 crore compared to ₹2,737.96 crore in the same period last year. On a sequential basis, net profit saw a modest growth of 2.5% from ₹2,985.88 crore in Q2FY25.

Consolidated revenue from operations recorded a 5.2% year-on-year (YoY) increase, reaching ₹13,671.18 crore, up from ₹12,991.44 crore. However, on a sequential basis, revenue declined by 8.4% from ₹14,933.80 crore in the previous quarter, indicating short-term challenges in revenue generation.

Conclusion

While Adani Power continues to showcase resilience with steady profit growth, concerns over regulatory demands and revenue declines have led to fluctuations in its share price. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NSE and Market Infrastructure Institutions Successfully Implement Direct Payout Settlement for Securities

The Market Infrastructure Institutions (MIIs), which include exchanges, clearing corporations, and depositories, have successfully rolled out the Direct Payout Settlement mechanism for securities. Implemented on February 25, 2025, under the guidance of the Securities and Exchange Board of India (SEBI), this initiative aims to enhance operational efficiency, market transparency, and investor protection.

This system ensures the direct credit of securities to investors’ demat accounts, removing intermediaries and streamlining settlement processes. By adopting this mechanism, the MIIs strengthen market integrity and efficiency, providing a seamless experience for investors.

What is the Direct Payout Settlement Mechanism?

The Direct Payout Settlement is a method where securities purchased by investors are credited directly into their demat accounts without additional processing delays. Traditionally, the securities settlement process involved intermediaries, which occasionally led to inefficiencies. However, with this new framework, investors can now receive their securities without unnecessary delays or manual intervention.

Key Benefits of the Initiative

  • Greater Transparency: Direct settlements improve visibility in transactions, eliminating unnecessary complexities.
  • Operational Efficiency: Faster credit of securities reduces the risk of settlement failures and delays.
  • Enhanced Investor Protection: Ensuring investors receive their securities directly strengthens trust in the capital markets.
  • Market Integrity: The streamlined process fortifies the financial ecosystem, making transactions more secure.

National Stock Exchange’s Role in Market Innovation

The National Stock Exchange of India (NSE) played a crucial role in this transition, leveraging its technological expertise. Since its inception in 1994, NSE has been a pioneer in electronic trading, and it continues to maintain its position as India’s largest stock exchange by turnover. The exchange is also globally recognised, ranking as the largest derivatives exchange by trading volume in 2024, according to the Futures Industry Association (FIA).

With its integrated business model, NSE facilitates:

  • Exchange listings and trading services
  • Clearing and settlement solutions
  • Market data and indices
  • Financial education initiatives

By implementing the Direct Payout Settlement, NSE reinforces its commitment to modernising financial markets and improving investor confidence.

NSE Clearing’s Role in Market Stability

As the first clearing corporation in India, NSE Clearing Limited has been instrumental in introducing settlement guarantees. Established in 1995, it ensures that all transactions are processed smoothly and that market participants receive their securities reliably. NSE Clearing has also gained international recognition as a Qualified Central Counterparty (QCCP) by SEBI and Third Country CCP (TC-CCP) status from both the European Securities Market Authority and the UK’s Temporary Recognition Regime.

Conclusion

The successful implementation of the Direct Payout Settlement mechanism is a significant step forward in improving efficiency and transparency within the Indian capital markets. By eliminating unnecessary intermediaries and ensuring direct credit of securities, this initiative marks a new milestone in investor protection and market integrity. As MIIs continue to drive innovation, investors can look forward to a more seamless and secure trading experience.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Transformers and Rectifiers (India) Limited Secures Order From Adani Group

Transformers and Rectifiers (India) Limited (TARIL), a leading transformer manufacturer in India, has recently secured domestic and international orders amounting to ₹350 crore. 

These contracts involve the supply of transformers and reactors for the Adani Group in India and international clients in Iraq and Australia. The orders will be executed by the next financial year, reinforcing TARIL’s market presence.

Domestic Order from Adani Group

TARIL has received a domestic order worth ₹272 crores, including GST, from Adani Group. The contract involves manufacturing and supplying transformers and reactors. The project, classified under normal business operations, does not involve any related-party transactions. The delivery is scheduled for completion by the next financial year. This order further strengthens TARIL’s position in the Indian transformer industry.

International Orders from Iraq and Australia

The company has also secured export orders from Al Sabha Group in Iraq and Powerlink Queensland in Australia, amounting to ₹78 crore. The contract covers the supply of transformers, which are set to be delivered within the next financial year. These international deals reflect TARIL’s growing global footprint and commitment to high-quality production standards.

TARIL Share Performance

As of February 21, 2025, at 10:00 AM, the shares of TARIL are trading at ₹379.00 per share, reflecting a decline of 1.7% from the previous day’s closing price. Over the past month, the stock has registered a loss of 7.56%.

Conclusion

With these new contracts, TARIL continues to solidify its reputation as a key player in the transformer manufacturing sector. The company remains committed to delivering world-class products through its extensive infrastructure and skilled workforce.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Excelsoft Technologies Files for ₹700 Crore IPO with SEBI

Excelsoft Technologies Ltd., a vertical SaaS company focused on the learning and assessment market, has filed its draft red herring prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The company plans to raise ₹700 crore, which includes a fresh issue of ₹210 crore and an offer for sale (OFS) of ₹490 crore by its promoters, Pedanta Technologies and Dhananjaya Sudhanva. 

Anand Rathi Advisors is managing the IPO, and the shares are expected to be listed on BSE and NSE.

Use of IPO Proceeds

The proceeds from the fresh issue will be used for:

  • Purchasing land and constructing a new building in Mysore.
  • Upgrading the company’s IT infrastructure, including software, hardware, and network systems.
  • Upgrading the external electrical systems at its existing facility.
  • General corporate purposes.

Pre-IPO Placement Consideration

Excelsoft may explore a pre-IPO placement of up to ₹270 crore. If this takes place, the size of the fresh issue and/or the OFS will be reduced accordingly.

Company Overview

Excelsoft Technologies has been in operation for over 20 years, providing technology-based solutions in the learning and assessment space. As of December 31, 2024, it serves 71 clients across 17 countries, including the USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE, and Canada.

Some of its clients include Pearson Education, Inc., AQA Education, Colleges of Excellence, NxGen Asia PTE LTD, Ascend Learning LLC, and Brigham Young University-IDAHO.

Financial Performance

In FY24, Excelsoft reported revenue from operations of ₹198.3 crore, with a profit after tax (PAT) of ₹12.75 crore. According to its draft papers, there are no listed companies in India with a business model or segment contribution directly comparable to Excelsoft.

Conclusion

Overall, the IPO will help provide Excelsoft Technologies with capital to support its expansion and operational upgrades, while offering existing shareholders an opportunity to divest part of their holdings.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Piramal Enterprises Faces ₹1,502 Crore GST Demand Notice Over Pharma Sale

Piramal Enterprises Ltd (PEL) has received a tax demand of ₹1,502 crore from the Maharashtra GST Department related to the sale of its pharmaceutical business to Piramal Pharma Ltd (PPL) in the financial year 2020-21. The order, issued on February 27, 2025, includes tax, interest, and penalties.

Following the announcement, shares of Piramal Enterprises Ltd fell 2.11% to ₹854.00 as of March 3, 12:04 PM. Over the past month, the stock has declined 15.78%, while it has dropped 11.67% over the past year.

Breakdown of the Tax Demand

The tax demand is based on the department’s contention that the sale was an “itemized sale” rather than a “slump sale.” A slump sale involves transferring a business undertaking without assigning values to individual assets and liabilities, while an itemized sale involves separately valuing different components of the transaction. 

The department has applied an 18% GST on the ₹4,487 crore deal. The penalty imposed amounts to ₹83.71 crore. The demand also includes tax on proceeds from the sale of investments, which are typically outside the scope of GST.

Company’s Response

Piramal Enterprises has stated that it believes the demand is unjustified and that it has strong legal grounds to challenge the order. The company has indicated that it will take the necessary steps to contest the demand and expects the order to be set aside. 

It also stated that the tax demand will have no impact on its profit and loss statement for the year.

Financial Performance

For the quarter ending December 31, 2024, Piramal Enterprises reported a net profit of ₹38.6 crore, compared to a loss of ₹2,378 crore in the same period the previous year. However, this included a gain of ₹376 crore, without which the company would have recorded a loss of ₹337.4 crore.

Revenue for the quarter stood at ₹2,449 crore, a 1.1% decline from ₹2,476 crore in the year-ago period. EBITDA fell 10.8% to ₹1,075 crore, with margins narrowing to 43.9% from 48.7%.

Conclusion

The company plans to pursue legal remedies against the tax demand, and the outcome will determine the final financial impact of the dispute.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NFO Alert: Unifi Mutual Fund Launches Unifi Dynamic Asset Allocation Fund

Unifi Mutual Fund is launching the Unifi Dynamic Asset Allocation Fund, an open-ended scheme under the hybrid category. The fund will be available for subscription from March 3, 2025, to March 7, 2025. The minimum investment amount is ₹5,000, and there is no lock-in period. The exit load is 1.5% for redemptions beyond 20% of the investment within 12 months. The scheme is available in both Regular and Direct Plans.

Investment Strategy

The fund follows a dynamic asset allocation approach, adjusting its investments across equities, fixed-income securities, and equity derivatives depending on market conditions. The allocation between these asset classes is not fixed and can range from 0% to 100% in each category. The fund may also use derivatives and arbitrage strategies to manage risk.

Fund Manager

The scheme will be managed by Saravanan V N, who has 24 years of experience in financial services. He has previously managed equity and debt alternative investment funds (AIFs) and portfolio management across asset classes.

Risk and Benchmark

The fund carries a high-risk rating due to its exposure to equities and market fluctuations. Its performance will be measured against the CRISIL Hybrid 50+50 Moderate Index, which consists of 50% BSE 200 equities and 50% CRISIL Composite Bond Fund Index.

Features

The New Fund Offer (NFO) details are as follows:

  • Fund House: Unifi Mutual Fund
  • Category: Hybrid – Dynamic Asset Allocation
  • Type: Open-ended
  • Plans Available: Growth 
  • Exit Load: 1.5% for redemption beyond 20% within 12 months
  • Benchmark: CRISIL Hybrid 50+50 Moderate Index
  • Risk: High

Who Can Consider This Fund?

As per the filing, the fund is intended for investors looking for a mix of equity and fixed-income investments without a fixed allocation. The returns are market-dependent, and investors should evaluate their risk tolerance before investing.

This is a new fund offer (NFO), so there is no past performance data available. Investors can check the Unifi Mutual Fund website for further details.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NFO Alert: Kotak Mutual Fund Launches Nifty Midcap 150 Index Fund

Kotak Mahindra Mutual Fund has introduced the Kotak Nifty Midcap 150 Index Fund, an open-ended index fund that will track the Nifty Midcap 150 Index. This fund aims to replicate the performance of midcap stocks ranked 101-250 based on market capitalization.

Fund Details

The New Fund Offer (NFO) details are as follows:

  • Fund Name: Kotak Nifty Midcap 150 Index Fund
  • Category: Index Fund
  • Benchmark: Nifty Midcap 150 Total Return Index (TRI)
  • Fund Type: Open-ended
  • Risk Level: Very High
  • Fund Managers: Devender Singhal, Satish Dondapati (Equity), Abhishek Bisen (Debt)

NFO Timeline

  • NFO Open Date: March 3, 2025
  • NFO Close Date: March 17, 2025
  • Minimum Investment: ₹100 and any amount thereafter
  • Exit Load: NIL

Investment Objective

The fund’s objective is to generate returns in line with the Nifty Midcap 150 Index, subject to tracking error. The scheme does not guarantee or assure any returns.

  • 95-100% in Equities (stocks forming part of the Nifty Midcap 150 Index)
  • 0-5% in Debt & Money Market Instruments

The fund may use derivatives for short-term adjustments when necessary.

How It Works

This is a passively managed fund, meaning it will not involve stock selection but will instead hold stocks in the same proportion as the index. The portfolio will be rebalanced as per changes in the index.

As per the filing, this fund may be relevant for investors looking for:

  • Long-term exposure to midcap stocks
  • A passive investment option with lower management costs
  • Diversification within the midcap segment

Conclusion

The Kotak Nifty Midcap 150 Index Fund will be available for subscription from March 3 to March 17, 2025. This fund is specifically focused on midcap stocks. Investors should consider the risk factors and market conditions before investing. The fund is available in both Regular and Direct with Growth and IDCW plans.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

NFO Alert: Kotak Mutual Fund Launches Nifty Midcap 150 ETF

Kotak Mahindra Mutual Fund has launched the Kotak Nifty Midcap 150 ETF, an open-ended Exchange-Traded Fund (ETF) tracking the Nifty Midcap 150 Index. The scheme aims to replicate the index’s composition and generate similar returns, subject to tracking errors.

NFO Details

  • Fund House: Kotak Mahindra Mutual Fund
  • Issue Dates: March 3, 2025 – March 17, 2025
  • Type: Open-ended ETF
  • Category: Equity – Mid Cap
  • Minimum Investment: ₹5,000
  • Plans Available: Growth
  • Lock-in Period: None
  • Exit Load: Nil
  • Risk Level: Very High
  • Benchmark: NIFTY Midcap 150 TRI

The fund seeks to provide investment returns in line with the Nifty Midcap 150 Index. This index consists of 150 mid-sized companies across various industries. The fund manager will invest in stocks in the same proportion as the index to maintain alignment with its performance.

Fund Management

The fund will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen. The registrar and transfer agent for the scheme is Computer Age Management Services Ltd. (CAMS).

Risk and Suitability

The Riskometer categorizes this ETF as Very High Risk, indicating significant price fluctuations. Midcap stocks tend to be more volatile than large caps, with the potential for higher returns – higher risks over the long term.

Tracking the Nifty Midcap 150 Index

The Nifty Midcap 150 Index represents companies ranked 101-250 in terms of market capitalization. It captures a broad segment of mid-sized firms, showcasing their growth potential. The ETF will replicate the index’s performance as closely as possible, subject to tracking errors.

Conclusion

This ETF follows a passive investment strategy, meaning it will not actively select stocks but will maintain alignment with the index. There is no lock-in period, and investors can enter or exit at market prices.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

360 ONE Mutual Fund Extended NFO Period For Gold ETF

360 ONE Mutual Fund has announced an extension of the New Fund Offer (NFO)  period for its 360 ONE Gold ETF, giving investors additional time to subscribe. Initially set to close on February 28, 2025, the NFO will now remain open until March 4, 2025. This is expected to provide investors with a longer window to participate in the fund, which aims to track the domestic price of gold.

Fund Overview

The 360 ONE Gold ETF is an open-ended Exchange-Traded Fund (ETF) under the commodities-gold category. It aims to provide returns aligned with the domestic price of physical gold, subject to tracking error.

  • Fund House: 360 ONE Mutual Fund
  • Fund Manager: Rahul Khetawat
  • NFO Open Date: February 20, 2025
  • Revised NFO Close Date: March 4, 2025
  • Revised Scheme Reopening Date: March 13, 2025
  • Minimum Investment: ₹500
  • Exit Load: Nil
  • Risk Level: Very High
  • Benchmark: Domestic Price of Gold

Revised Timelines

The extension in the NFO period also affects the scheme’s reopening date. The updated timeline is as follows:

Particulars Previous Date Revised Date
NFO Closing February 28, 2025 March 4, 2025
Scheme Reopening March 10, 2025 March 13, 2025

Investment Structure

The ETF follows a passive investment strategy, aiming to track gold prices in India. Since it is an exchange-traded product, investors can buy and sell units on the stock exchange at market prices.

There is no lock-in period, and the fund does not charge an exit load. Investments start at ₹500, making it accessible to retail investors.

Conclusion

Since this is a gold-linked ETF, its performance depends on fluctuations in domestic gold prices. Additionally, while there are no brokerage charges beyond SEBI’s prescribed limit, investors should consider any applicable transaction fees.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.