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We all dream of owning a successful company, calling the shots and pocketing a nice paycheck every other week. Oh, there are plenty of dreams out there but how many of us actually take that first step toward financial independence and a quality of life that depends, not on the folks upstairs in the big offices, but on your own hard efforts. When you own the business, financial independence depends on you.

Thats why most people back away from business ownership. Fear of failure. Fear of looking foolish. Fear of what your family and friends will think if your new business doesnt soar like the American bald eagle - the American dream.

Ive had the satisfaction of starting start several businesses in my career, some more successful than others. However, even my "less than stellar" attempts at entrepreneurialship have taught me valuable lessons - lessons you can take with you to the kitc...Read More

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Fund Performance

Go Digit's proposed IPO comprises fresh issuance of equity shares worth ₹1,250 crore and an offer for sale (OFS) of 10.94 crore equity shares by a promoter and existing shareholders. In the OFS, Go Digit offers to sell 10,94,34,783 equity shares.

Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.

Shera Energy achieved good growth in its topline and bottomline in the past 18 months. The company’s PAT increased from Rs 5.03 crore in FY21 to Rs 7 crore in FY22. In FY 2023, as of September 30, 2022, the company earned a net profit of Rs 4.28 crore on a turnover of Rs 339.54 crore

The funding from IHC, which is controlled by a key member of the emirate’s royal family, would have represented about 16% of the offering and would have built on an almost $2 billion investment in Adani’s companies last year

"Given the unprecedented situation and the current market volatility the company aims to protect the interest of its investing community by returning the FPO proceeds and withdraws the completed transaction," the company told exchanges after a board meeting Wednesday evening.


Citing the unprecedented crash in stock prices, Adani Enterprises Chairman Gautam Adani said the board felt that going ahead with the issue will not be morally correct, given these extraordinary circumstances

The flagship entity of the Adani Group got bids for 50.9 million shares against an offer size of 45.5 million shares, excluding the anchor book, at a price range of ₹3,112-3,276 apiece. Adani Enterprises closed 2.8% higher at ₹2,973.90 Tuesday on the BSE, having dropped for two days in a row. The benchmark Sensex ended almost flat Tuesday.


Such rights allow an employee to receive a bonus equivalent to the rise in the company's stock price over a certain period - something Indian regulations prohibit for companies going public.

Balaji Solutions' revenue from operations stood at Rs 482 crore in FY22, falling marginally due to normalisation post-easing of Covid-19 lockdown restrictions, while profit for the same period came in at Rs 15 crore.

The company may consider a pre-IPO placement aggregating up to Rs 24 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 86.60 crore will be utilized for funding incremental working capital requirements of the company, and general corporate purposes.

Additionally, AEL is close to receiving further investment commitments of $1-1.1 billion (around ₹8,100-9,000 crore) from investors in Middle East and Southeast Asia with the announcement expected on Tuesday when the FPO closes, said a person directly aware of the matter.

Incorporated in 2018, FirstMeridian provides a wide range of service offerings, including general staffing and allied services, by offering solutions for contract staffing, workforce automation, trade marketing, and global technology through short and long-term technology contract staffing

IHC will make the investment through its subsidiary Green Transmission Investment Holding RSC Limited.


According to the offer documents, the company proposes to use '4,165 crore of the issue proceeds to repay the debt owed by the company and three subsidiaries - Adani Airport Holdings, Adani Road Transport and Mundra Solar.


The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.

The capital markets regulator said it returned PayMate's offer document back to its merchant bankers on January 17. PayMate said in a press release it aims to submit the mandatory system audit report (SAR) to the Reserve Bank of India by the second week of February. Submission of SAR to the central bank is part of the standard operating protocol to receive final approval from the central bank as payment aggregator, it said.

The Goldman Sachs- and Equity International-backed company had filed a DRHP with the markets regulator in 2019 to raise about Rs 1,900 crore through an initial public offering of shares, but the plan was shelved due to the pandemic.

The company plans to use the proceeds from the fresh issue to repay outstanding loans availed by it and its subsidiary Avalon Technology and Services Pvt Ltd, and also to meet working capital requirements

RIL is currently in a mini-capex cycle across petrochem, telecom (Jio) and new energy businesses, bringing the focus back on the company's capex and rising debt. "While RIL does not give a capex guidance, we expect overall spending levels to moderate as spectrum acquisition is behind us and large immediate spending in the new energy business is unlikely," the brokerage said.


Adani Group has consistently aligned itself to support Prime Minister Narendra Modi’s agenda. It has pledged more than $70 billion to help India pivot from being a fossil fuel importer to a generator of renewable energy.

According to the draft papers, the public issue with a face value of Rs 5 per equity share consists of a complete fresh issue of shares of Rs 750 crore with no offer-for-sale component.Of the proceeds from its fresh issuance, Rs 400 crore will be utilised for prepayment/repayment of all or a portion of outstanding borrowings availed by the company, and Rs 200 crore will be used to fund working capital requirements and general corporate purposes.

The company will offer partly paid shares to retail investors at a discount of ₹64 apiece to the issue price. Investors must pay 50% of the offer price at the time of placing bids in the FPO, and the remaining 50% on one or more subsequent calls, as decided by the board.

Secondary share sale to offer exit to legacy fin investors, growth equity for expansions.

The company had filed its draft red herring prospectus (DRHP) for the IPO with Sebi in September 2021 and is aiming to raise Rs 8,430 crore. Oyo’s last submission to Sebi was the updated financial results of the first half of financial year 2022-23.

As per the draft papers, Innova Captab's proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders.

The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware.

Innova Captab is an integrated pharmaceutical company in India with a presence across the value of the pharmaceutical chain including research and development, manufacturing, drug distribution and marketing, and exports. The company filed preliminary IPO papers with Sebi on July 07, 2022.


The FPO could result in the stakes of promoters led by Gautam Adani falling by 3.5%. As of September 2022, the promoters owned 72.63% of Adani Enterprises, while the remaining 27.37% was with public shareholders. Life Insurance Corporation held 4.03% among the public shareholders, while Nomura Singapore, APMS Investment Fund, Elara India Opportunities Fund, and Lts Investment Fund owned stakes between 1% and 2%.

In the past six months, 27 companies with IPO plans worth ₹38,000 crore have allowed their regulatory approvals to lapse, according to Prime Database numbers. Similarly, the permissions to another nine firms planning to raise a total of ₹15,000 crore are set to expire over the next two months.

The company, ICICI Securities and JM Financial, did not respond to ET's queries. In 2018, Oman India Joint Investment Fund invested $24 million or ₹170 crore in the company for a 26% stake.

Cyient DLM focuses on highly complex, low-volume electronics manufacturing for safety-critical segments. The company had last year appointed Anthony Montalbano as its CEO.

Adani Enterprises late November announced the initiation of a much-awaited follow-on public offer (FPO) to raise as much as ₹20,000 crore ($2.5 billion) from retail and institutional investors, riding piggyback on the meteoric 18-fold jump in its stock prices in the last five years. This will be the largest such issuance in India to date.

For a developing country such as India, Small and medium enterprises (SMEs) are the wheels that turn the economy, and SMEs contribute to one-third of India's GDP. The SMEs have played an essential role in India's socio-economic development and in globally developed countries such as Germany. In fact, SMEs generate 54.4% of overall value added in Germany and 63.7% of overall employment in the German non-financial business economy.

Proceeds from the fresh issue will be used for investment in its material subsidiary BDJ Oxides. It will use Rs 45 crore in repayment of borrowings availed by its arm, Rs 5.31 crore will be used for setting up a Research & Development centre, Rs 65 crore will be used to fund the long-term working capital requirements of its material arm.

He said setting right expectations, being transparent and not overselling are great ways to reduce the volatility of the stock price pre and post-IPO. "Doing this well can make shareholders feel like owners & help reduce customer acquisition costs, the biggest cost for B2C businesses."

Shares of the cash logistics player closed at ₹106.50, a 13% premium to the issue price. This is the first IPO to close above the offer price on listing day in the past six issues.

The quota for retailers was subscribed 39.78 times whereas the portion for non-institutional investors fetched 33.94 times bids, and the allocation for qualified institutional bidders was booked 2.40 times.

The company had filed its Draft Red Herring Prospectus (DRHP) with Sebi in September 2021 and is aiming to raise Rs 8,430 crore

The company is selling its shares in the range of Rs 61-65 apiece between December 30 and January 4, in a lot size of 230 equity shares

Pranav Haldea, Managing Director, PRIME Database, said the momentum seen in the last 2 months of 2022 is likely to continue, at least for the smaller-sized IPOs. However, it may be a while before we see larger-sized deals, especially in light of the lack of sustained interest from FPIs, he said.

Overall, 40 Indian corporates raised Rs 59,412 crore through main board IPOs in calendar year 2022, half of the Rs 1,18,723 crore (all-time high) mobilized by 63 IPOs in 2021, according to the database. According to Pranav Haldea, Managing Director, PRIME Database Group, Rs 20,557 crore or a huge 35% of the amount raised in 2022 was by LIC alone.

In the past two years, several large FMCG companies, such as HUL, ITC, Marico, Emami, Reckitt, Wipro Consumer and Colgate Palmolive, have picked up stakes in DTC digital-led startups that garnered popularity among consumers during the Covid-19 pandemic.

Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.Proceeds from the issue worth Rs 59.50 crore will be utilised towards financing the expansion of its manufacturing facility in Nashik and for general corporate purposes.

Reliance Securities said while the company has a quality product mix, strong customer base across geographies and industries, good financials and a wide product portfolio, the issue seems pricey based on the current financials.

Trent recently entered into a joint venture with MAS Group, Sri Lanka. Over time, Trent and MAS would pool their domain expertise to undertake design, development, and manufacturing of a range of intimate wear and other apparel products, it said

The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 28% YoY to Rs 193 crore. The EBTIDA margin dropped 120 basis points YoY to 24.3%.The domestic formulation sales that contribute over half of company's sales recorded a growth of 42% YoY to Rs 407 crore, while the international formulation rose 23% to Rs 386 crore

Escorts also incurred a one-time expense of Rs 72.76 crore due to a loss in the sale of investment in the joint venture Tadano Escorts, it said in an exchange filing.To offset the higher costs, the company increased prices of its tractors in Nov last year. The company, however, said the price hike was undertaken after the peak sales season

"The above mentioned entities shall enter into an agreement with a KUA and get themselves registered with UIDAI ( Unique Identification Authority of India) as sub-KUAs. The agreement in this regard shall be as prescribed by UIDAI... The KUAs shall facilitate the on-boarding of these entities as sub-KUAs to provide the services of Aadhaar authentication with respect to KYC," Sebi said in its circular on Wednesday

The Dow Jones Industrial Average fell 23.79 points, or 0.07%, at the open to 34,132.90

The Times has in the past few years embarked on a bundling push, combining its core news reports with digital content ranging from podcasts to cooking recipes and games in hopes of getting more revenue from readers

The capital market regulator introduced corporate governance requirements for listed entities to improve transparency in their functioning and ensure enhanced disclosures to investors


Uber forecast adjusted EBITDA, a profitability metric that excludes some costs, between $660 million and $700 million for the first quarter, well above the average analyst estimate of $593.06 million, according to Refinitiv data

In an eagerly awaited speech on Tuesday, Powell reiterated that disinflation has begun but warned Friday's eye-popping jobs report showed why the battle against inflation will "take quite a bit of time

SBI Chairman Dinesh Khara said the continuing strength in US job data has made monetary policy making into a delicate balancing act for emerging economies and seemed to welcome the slew of announcements on the regulatory front beyond the rate hike


The new norms will essentially allow entities to borrow and lend government securities by paying or receiving a premium. The central bank will soon issue draft directions separately for stakeholder comments. Dealers said the new norms will make more people eligible to take a short position on government securities

However, despite the highly uncertain global environment, the Nifty stood its ground and protected the important support of 17,200 regions. Domestic brokerage ICICI securities expect the index to undergo range-bound consolidation in the broader range of 18,000 to 17,200

Indian state-owned insurance group and investment company LIC is among a range of domestic companies that will announce earnings on Thursday. >> For more such web stories click on the ET icon below

Wall Street's main indexes rallied on Tuesday after Powell said 2023 should be a year of "significant declines in inflation" even as he acknowledged that rates may need to move higher than expected if economic strength threatens the Fed's progress in lowering inflation

The 30-share BSE Sensex closed up 377.75 points at 60663.79

In the Nifty pack, 36 stocks closed in the green, while 13 stocks ended in the red.

The 30-share BSE Sensex closed up 377.75 points at 60663.79

If we have to surpass the sturdy wall of 17900–18000, banking heavyweights should contribute convincingly. Above this, the market will come out of the recent congestion zone, and we may see good broad-based participation thereafter

RBI Governor Shaktikanta Das on Wednesday said the central bank would launch a pilot project on QR code-based coin vending machine (QCVM) in 12 Indian cities. >> For more such web stories click on the ET icon below

Nifty ended with gains of 150 points or 0.85% at 17,872, while Sensex added 378 points to settle at 60,664. For more such web stories click on the ET icon below

The 30-share BSE Sensex closed up 377.75 points at 60663.79

Revenue from operations on the other hand surged 45% year-on-year (YoY) to Rs 7,764 crore for the quarter under review, mainly due to greater regulatory claims, increased operating capacity, and improved tariff realization.

"India has received a bit of bad press and it has sort of come from the whole Adani affair but underlying India remains a very attractive market with good companies with very attractive growth rates coming through for the foreseeable future. The China reopening has perhaps in the short term encouraged some short-term money to flow out of India into other emerging markets, particularly China."

Nirmala Sitharaman’s Budget 2023 brought bulls to Dalal Street but the cheers were overshadowed by the slump in adani stocks post Hindenburg report. >> For more such web stories click on the ET icon below

The 30-share BSE Sensex closed up 377.75 points at 60663.79

The 30-share BSE Sensex closed up 377.75 points at 60663.79

Spot gold prices in the Delhi markets traded at Rs 57,463 per 10 gram, up Rs 335 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.In the overseas market, both gold and silver were trading higher at USD 1,880 per ounce and USD 22.45 per ounce, respectively.

The Reserve Bank of India slowed the pace of interest rate increases for the second straight time when it on Wednesday expectedly increased borrowing cost by 25 basis points but hinted more to come as core inflation remained high

The Nifty Realty index closed 0.01 per cent up at 411.65.

Rane(Madras), Soma Textiles, Manugraph India, Surya Roshni and Spectrum Electrical, hit their fresh 52-week highs during the day.

The Nifty Auto index closed 0.24 per cent up at 13257.35.

Power Grid, Coal India Ltd, L&T, Hero MotoCorp and Eicher Motors were among the top losers on NSE in today's trade.

The NSE Nifty index closed 150.2 points up at 17871.7

The Nifty Bank index closed 0.11 per cent up at 41537.65.


“Technically, the price of Zomato stock has surpassed the falling channel on the daily scale with a bullish candle, and buying interest is visible at the support zone,” Motilal said. “The momentum indicators have retested the breakout on the daily scale and started a fresh up move,” it added

“Compared to Q3, prices are higher by 1% to 2% only and not much higher. Prices will be higher by 1% to 2% only or that is the trend till February now. But the coal prices have come down so the costing is expected to come down, so the margin expansion is in place.”

“Compared to Q3, prices are higher by 1% to 2% only and not much higher. Prices will be higher by 1% to 2% only or that is the trend till February now. But the coal prices have come down so the costing is expected to come down, so the margin expansion is in place.”

Investors' wealth increased about Rs 2.56 lakh crore as the total market capitalisation of BSE-listed firms surged to Rs 268.6 lakh crore

The Nifty Pharma index closed 1.36 per cent up at 12357.3.

The Reserve Bank of India (RBI) on Wednesday raised the repo rate by 25 bps to 6.50% and retained its stance of withdrawing accommodation. The retail inflation outlook for the ongoing fiscal is at 6.5% while GDP growth for FY24 is seen at 6.4%.


However, Sirvastava added that the overall impact on the stock market will depend on various other factors such as global economic conditions, geopolitical developments, and the growth prospects of individual companies.

The resultant shares to be bought back at the buyback offer price will not exceed 10,00,000 equity shares, representing 1.43% of the total number of equity shares in the total paid-up equity capital of the company as on March 2022

Revenue from operations increased 7% year-on-year (YoY) to Rs 15,438 crore in the December quarter. It was Rs 14,370 crore in the year-ago period.

"Even with the share price at 1,531 per share, I still think the company is priced too high, given its fundamentals (cash flows, growth and risk) and before factoring the damage that might have done to the company's reputation and long-term value, by this short selling episode," he wrote in his blog 'Musings on Markets'.

Since this was the last full budget before the 2024 General Elections, it was expected that the government could announce some income support for the rural sector or implement some measures to boost consumption growth in the economy.

“On a qualitative level, we have seen that there is margin pressure and the reason for that is many of these companies are unwilling to let go of market share or let go of volume. They are compromising on margins, absorbing the raw material prices increase in order to maintain or increase their market share and use their balance sheet strength wherever they can. That is a good long-term strategy to build market share.”

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