Category: STOCK & SHARES
TRSL announcing management rejig – Formation of 2 new business verticals for enhancing focused growth
India’s leading Railway Systems provider, Titagarh announced important management reorganization and strengthening, as well as venturing into new areas of growth.
Titagarh announced formation of new verticals under the names of Ship Building and Maritime Systems (SMS) and Safety and Signaling Systems (SSS).
While Titagarh has already been in the ship building and maritime business in the past and has designed, manufactured and delivered some projects including specialized ships such as a Fast Patrol vessel for Indian Coast Guard, a passenger ferry that was exported to Guyana (both through GRSE), Coastal Research Vessels “Sagar Tara and Sagar Anveshika” many vessels for the Indian Navy etc.
Considering the Indian Government’s aim to attain “atmanirbharta” (self-reliance) in this segment, Titagarh has decided to lay greater focus on developing and growing this business. Titagarh also has many requisite permissions/registration and the existing shipyard of the Company is already approved for Warship Building and is an approved yard by Indian Navy, Indian Coast Guard, Ministry of Earth Sciences, Shipping Corporation of India.
The SMS vertical of Titagarh would be headed by Mr Saket Kandoi, who is the Director of the company and was earlier the Chief Operating Officer of the Freight Rail Systems division. He will now be the irector and CEO of the Ship Building and Maritime Systems.
Commenting on this Saket Kandoi, the newly appointed CEO of Ship building and Maritime Systems said ‘Titagarh already has a shipyard in Kolkata and will now explore growing the business, setting up additional facilities including a bigger yard and forging strategic alliances. India is set to rise as a global shipbuilder and the Hon’ble Prime Minister has given a major thrust to this industry including the revamp of the Shipbuilding Financial Assistance Policy and the creation of the Maritime Development Fund will go a long way in supporting the entire Indian maritime industry and achieving the Hon’ble Prime Minister’s vision of a Viksit Bharat and achieving Atmanirbharta in the maritime domain.”
Titagarh Board also approved setting up of Safety and Signaling Systems (SSS) under which Titagarh will develop products to cater to the ever growing need of enhancing safety and signaling systems for the railway and the metro systems in India. The Indian Railway has laid special emphasis and focus on enhancing the railway safety and signaling and Titagarh intends to play an important role in the years to come. Titagarh already has a joint venture with MERMEC of Italy which is a global leader in this field. Titagarh will introduce modern technologies and new products into the Indian Railway System. Mr Prithish Chowdhary who is the Dy Managing Director of the Company will be the ad-interim CEO of SSS and speaking on the same said ‘We have identified 3 key areas where we will be focusing on the safety and signaling systems and will leverage our existing engineering and manufacturing capabilities for the same – Train control, Asset Condition Monitoring, Vehicular and Train Mounted Solutions. We are committed to offering products that are the best in cl-ass of technology, quality, and safety, while strongly adhering to the call of ‘Make in India’.”
The Board of Directors of the Company also approved changes to the management structure of the Company. Shri Anil Kumar Agarwal, Deputy Managing Director and CEO in charge of the Freight Rail Systems (FRS) vertical of the Company, has been given the responsibility as Deputy Managing Director (DMD) of the Company w.e.f. 3rd February, 2025. In this expanded role, Shri Agarwal will now be responsible for the performance of both the Freight Rail Systems (FRS) and Passenger Rail Systems (PRS) verticals, under the overall supervision and guidance of Managing Director, Mr. Umesh Chowdhary. The formation of a new business vertical is being done to focus and grow this business helping in line with the market needs.
Mr. Anil Kumar Agarwal on his expanded role said “I am very excited and committed towards furthering the Company’s growth. I thank the Board of Directors for its confidence in me and am very enthusiastic about taking on this new responsibility. Reflecting on the substantial progress made in the Freight Railway Services (FRS) division, which has seen operations stabilize with nearly 1000 wagons per month, he acknowledged that significant work remains to be done in the PRS vertical. He said, we are fully committed to becoming the largest producer of passenger coaches in India and our primary focus will be on optimizing costs, incorporating cutting-edge technology, and enhancing operational efficiency. Additionally, we plan to not only serve the Indian market but also explore opportunities for exporting our products to international markets. He further emphasized that under his leadership he would ensure the PRS division is well-positioned for success, driving innovation and expanding the Company’s footprint in both domestic and global markets.”
Mr. Prithish Chowdhary, Dy Managing Director of the Company, apart from handing various corporate functions, will be responsible for developing the two new business verticals i.e. Shipbuilding and Maritime Systems (SMS) and Safety and Signalling Systems (SSS).
The corporate functions of the Company will be jointly under the responsibility of Mr Anil Kumar Agarwal and Mr. Prithish Chowdhary, two Deputy Managing Directors of the Company, reporting to the Managing Director, Mr Umesh Chowdhary.
This strategic enhancement of the roles of Mr. Anil Agarwal and Mr. Prithish Chowdhary will further strengthen the Company’s operations and drive continued success. In order to promote growth and employee participation Titagarh also announced the grant of 5 lakhs Employee Stock Options representing upon exercise equal number of shares to eligible employes at the price of Rs 860/- per Option.
Speaking on the above Mr Umesh Chowdhary-Vice Chairman and Managing Director of TRSL said ‘I am very excited that the above proposals have been approved by the Board of Directors. Titagarh has witnessed important growth in the last few years and in order to continue the momentum, both the new business verticals as well as the management re organization will contribute significantly. Mr Chowdhary further said, “India is poised for an unprecedented growth through the vision and policies of the Hon’ble Prime Minister of India Shri Narendra Modiji and I firmly believe all our business units i.e., Passenger Rail System, Freight Rail Systems, Ship Building and Signaling will play a vital role in fulfilling the vision of our Hon’ble Prime Minister in attaining Atmanirbharta (self-reliance) and move India towards a Viksit Bharat (Develop India).
STOCK & SHARES – Page 2
Signpost India Limited (SIL), India’s largest Digital Out-of-Home (DOOH) company and integrated advertising media enterprise, is now listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), becoming the first leading DOOH media enterprise in the country to be listed on the major stock exchanges. Signpost India leads the way in cutting-edge DOOH […]
Kedaara Capital powers Vishal Mega Mart to a ₹ 80,000 Million IPO; 7th successful IPO by a Kedaara investee company
Kedaara Capital, one of India’s largest home-grown private equity investors, proudly announces the listing of Vishal Mega Mart (the “Company” or “VMM”), a pan-India value-retail player controlled by Kedaara Capital Fund II LLP (“Kedaara Fund II”), on the National Stock Exchange of India (“NSE”) and the Bombay Stock Exchange (“BSE”) under the tickers NSE: VMM and BSE: 544307, respectively, on December 18, 2024.
The IPO, open for subscription between December 11-13th 2024, saw overwhelming demand from investors with the overall book oversubscribed 27x and non-anchor QIB portion oversubscribed 85x. The IPO price was set at ₹78 per share, and the Company’s shares closed at 43% premium to the issue price, at ₹111.9 per share on the first day. This strong listing performance reflects Vishal Mega Mart’s solid growth trajectory and investor confidence in its business model.
Kedaara Fund II, a promoter of Vishal Mega Mart, had invested in the Company in 2018, bringing in a unique blend of growth capital and operational expertise to transform the Company into a pan-India omni-channel business. The IPO represents a key milestone in unlocking value with an entity controlled by Kedaara selling approximately 23% of their equity stake, for gross proceeds of ₹80,000 million.
Vishal Mega Mart is a leading value retail player catering to the middle to lower-middle income households across India. With 645 stores in 414 cities, VMM embodies the philosophy of ‘Making Aspirations Affordable’, by providing good quality products across apparel, general merchandise and FMCG categories at affordable prices. Its proprietary brands, which constitute nearly 73% of its revenue, and its strategic focus on Tier-2 and beyond cities, which account for 70% of its stores, have helped cement its market leadership in this segment.
Reflecting on this journey, Mr. Gunender Kapur, Managing Director and CEO, Vishal Mega Mart said, “Consumer-centricity is at the core of what we do at VMM. We are committed to our mission of making aspirations affordable for middle and lower middle-income India by providing a wide assortment of aspirational and quality products across apparel, general merchandise and FMCG at affordable prices. Kedaara has been an invaluable partner in this mission helping with multiple value-additive initiatives including those that have helped accelerate the pace of our pan-India store rollout as well as scale our omni-channel presence. We look forward to their continued support in the years to come.”
Neha Bansal, Chairperson of the Board, VMM, stated, “VMM’s exceptional use of technology across their business operations, across sourcing, supply chain, identifying demand trends, and facilitating a seamless hyperlocal consumer experience, enables true consumer delight. I am excited to be a witness and a guide to the Company as they cater to the aspirations of Bharat.“
Nishant Sharma, Founder and Managing Partner, Kedaara Capital, said, “Our partnership with Vishal Mega Mart exemplifies our vision to back high-quality teams in building market leading enterprises in India that create enduring value for their stakeholders. We are delighted to have had the opportunity of playing our part in VMM’s journey and have high conviction on the Company’s ability to create long-term value as a public company for the years to come!”
Anant Gupta, Partner, Kedaara Capital, said “VMM’s IPO success is a testament to its exceptional management team, consumer-centric business model and high-quality execution. With 19 own brands generating over INR 1 billion in sales, a pan-India presence with ~70% of stores in Tier 2 and beyond, and an impressive 19-month store payback period, VMM has set a high standard in retail industry. We are proud to have supported their growth journey and delighted about this milestone for the Company. We are confident that VMM is well-positioned to deliver long-term shareholder value.”
Kedaara Capital powers Vishal Mega Mart to a ₹ 80,000 Million IPO
Kedaara Capital, one of India’s largest home-grown private equity investors, proudly announces the listing of Vishal Mega Mart (the “Company” or “VMM”), a pan-India value-retail player controlled by Kedaara Capital Fund II LLP (“Kedaara Fund II”), on the National Stock Exchange of India (“NSE”) and the Bombay Stock Exchange (“BSE”) under the tickers NSE: VMM and BSE: 544307, respectively, on December 18, 2024.
The IPO, open for subscription between December 11-13th 2024, saw overwhelming demand from investors with the overall book oversubscribed 27x and non-anchor QIB portion oversubscribed 85x. The IPO price was set at ₹78 per share, and the Company’s shares closed at 43% premium to the issue price, at ₹111.9 per share on the first day. This strong listing performance reflects Vishal Mega Mart’s solid growth trajectory and investor confidence in its business model.
Kedaara Fund II, a promoter of Vishal Mega Mart, had invested in the Company in 2018, bringing in a unique blend of growth capital and operational expertise to transform the Company into a pan-India omni-channel business. The IPO represents a key milestone in unlocking value with an entity controlled by Kedaara selling approximately 23% of their equity stake, for gross proceeds of ₹80,000 million.
Vishal Mega Mart is a leading value retail player catering to the middle to lower-middle income households across India. With 645 stores in 414 cities, VMM embodies the philosophy of ‘Making Aspirations Affordable’, by providing good quality products across apparel, general merchandise and FMCG categories at affordable prices. Its proprietary brands, which constitute nearly 73% of its revenue, and its strategic focus on Tier-2 and beyond cities, which account for 70% of its stores, have helped cement its market leadership in this segment.
Reflecting on this journey, Mr. Gunender Kapur, Managing Director and CEO, Vishal Mega Mart said, “Consumer-centricity is at the core of what we do at VMM. We are committed to our mission of making aspirations affordable for middle and lower middle-income India by providing a wide assortment of aspirational and quality products across apparel, general merchandise and FMCG at affordable prices. Kedaara has been an invaluable partner in this mission helping with multiple value-additive initiatives including those that have helped accelerate the pace of our pan-India store rollout as well as scale our omni-channel presence. We look forward to their continued support in the years to come.”
Neha Bansal, Chairperson of the Board, VMM, stated, “VMM’s exceptional use of technology across their business operations, across sourcing, supply chain, identifying demand trends, and facilitating a seamless hyperlocal consumer experience, enables true consumer delight. I am excited to be a witness and a guide to the Company as they cater to the aspirations of Bharat.“
Nishant Sharma, Founder and Managing Partner, Kedaara Capital, said, “Our partnership with Vishal Mega Mart exemplifies our vision to back high-quality teams in building market leading enterprises in India that create enduring value for their stakeholders. We are delighted to have had the opportunity of playing our part in VMM’s journey and have high conviction on the Company’s ability to create long-term value as a public company for the years to come!”
Anant Gupta, Partner, Kedaara Capital, said “VMM’s IPO success is a testament to its exceptional management team, consumer-centric business model and high-quality execution. With 19 own brands generating over INR 1 billion in sales, a pan-India presence with ~70% of stores in Tier 2 and beyond, and an impressive 19-month store payback period, VMM has set a high standard in retail industry. We are proud to have supported their growth journey and delighted about this milestone for the Company. We are confident that VMM is well-positioned to deliver long-term shareholder value.”
Multibagger stock has doubled shareholders’ money in YTD, delivering over 100 per cent return
Shares of Responsive Industries Ltd are one of the multibagger stocks that Indian stock market has delivered in recent years.
In fact, this multibagger stock has doubled shareholders’ money in YTD, delivering over 100 per cent return to positional investors. However, it seems that there is still some steam left in this multibagger stock.
Despite weak stock market sentiments, Responsive Industries share price today opened upside and went on to hit intraday high of ₹245.95 per share on NSE, logging intraday gain to the tune of 4.35 per cent within few minutes of stock market’s opening bell.
While ascending to intraday high of ₹245.95 apiece levels on NSE, the multibagger stock inch close to life-time high of ₹249.25 per share levels.
However, profit booking triggered at Monday’s high and the stock is currently quoting at ₹240 apiece levels.