OIL India : Listing Strategy

OIL India is going to list on NSE and BSE on Wednesday,30th September,2009.
There was a good response from QIB and HNI segment. However, the retail segment was oversubscribed 1.76 times. The Current Grey market premium for Oil India is in the range of Rs. 50-60.

Investment Guru is of the view that the stock may list at a modest premium of Rs. 50-100 against its issue price of Rs. 1050. Though the fundamentals of the company are quite strong, it has the inherent limitations of sharing of Subsidy Burden and inadequate geographical spread which would keep a tab on its performance. Though the company has a impressive track record on On-shore drilling, it has yet to prove its expertise in off-shore segment.

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IPO Update –Cantabil Retail India Ltd.

Dressed up for the Show

Cantabil has eneterd the capital markets with an offering of shares in the price band of Rs.127-135 to garner 105 crores for its expansion plans.

Positives

1. Cantabil has a network of 411 exclusive retail outlets spread across India of which 141 outlets are exclusively for its brand “La Fanso” an rest for “Cantabil” brand.

2. It offers complete range of formal wear, party wear and casual wear for Men, Women and Kids .

Concerns

1. Cantabil depends on third parties for a considerable portion of sales as well as manufacturing  of its products. It makes it vulnerable to performance issues.

2. Centralization of manufacturing facilities at Delhi exposes company to issues related to local unrest or disturbances.

3. The apparel segment has many established players and hence the company has intense competition on this front to keep its brand value flying high. Some of the competitors include Raymonds, Gini and Jony, Provogue,Koutons and Arvind brands.

Financials

Cantabil posted a Topline of Rs. 263.6 crores for year ending March.2010 and a profit after tax of Rs. 14.68 crores. Company’s revenues and profit have grown significantly over past four years as it added the Women and Kids wears as a part of its offerings.

Valuations

At the upper band of the offer price, the company is seeking a PE multiple of more than 15 while peers like Koutons is quoting at PE of 12 and Kewal Kiran at 14 times. The issue seems fully priced as compared to its peers. However, the booming markets may still put premium on listing. I am planning to put some token money to taste the waters.

Issue Opens : 22-09-2010

Issue Closes: 27-09-2010

Registrar: Beetal Financial & Computer services

Current Grey market premium : Rs.12

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Rajan Anandan to lead Google India

We are delighted to announce the appointment of Rajan Anandan as Vice President of India Sales and Operations.

Rajan brings to Google India an impressive pedigree of hi-tech and leadership expertise, as well as degrees from Stanford and MIT. His 18-year career includes key roles at Microsoft, Dell and McKinsey & Company. Says Daniel Alegre, President, Japan and Asia-Pacific Operations,"We always hire the best talent available. India is an important growth country for Google. We were voted the best company to work for in India and we are hiring across functions. With Internet users growing at 50% year-on-year, a strong leadership team will ensure that Google captures this tremendous opportunity. We are happy to have a leader of Rajan’s seniority and calibre to manage and lead it to the next phase of growth."

Most recently Rajan was MD of Microsoft India, responsible for all aspects of Microsoft’s software, OEM and services business in India. Under his leadership, Microsoft India was recognized as the Number 1 subsidiary among the emerging markets worldwide (China, Russia, Brazil, Mexico, Turkey, South Africa and India).

Prior to joining Microsoft, Rajan was the Vice President and Country General Manager of Dell in India where he grew the Dell business from $250 million to over $800 million and several leadership roles including being the Executive Assistant to Chairman Michael Dell. Before that, he was a Partner with McKinsey & Company in Chicago. He holds an MSc from Stanford and a BSc from MIT.

Shailesh Rao, who has been covering those two roles, that of the Japan and Asia-Pacific Managing Director, Media and Platform Sales and Managing Director and Head of Sales, Google India, will remain in Gurgaon and move full-time to the former to deliver on the exciting growth plans for that business. Shailesh has been instrumental in getting India off the ground from a start-up to a scaled-up and successful business operation, with revenues and headcount growing substantially.

We would like to thank him for his achievements and dedication to the India business.

Posted by Daniel Alegre,VP, JAPAC Operations

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Slow YouTube? Try Feather, Made for India

The internet is hurtling along at a fast pace moving from GIF animated images to full HD video. However, for us Indians, the wonders of the internet are still one long progress bar away.

While YouTube happily launched 1080p HD video support, we’ve just started putting away our VCDs. Finland may have made 1 Mbps connections a legal right, but we have to pay through our nose for even half of that.

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