Krystal Integrated Services Limited Initial Public Offering Opens On Thursday, March 14, 2024

·         Price Band fixed at Rs 680 to Rs 715 per Equity Share of face value of Rs 10 each (“Equity Share”);

·         Bid /Offer will Opens on Thursday, March 14, 2024 and Closes on Monday, March 18, 2024. The Anchor Investor Offer shall be on Wednesday, March 13, 2024;

·          Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter;

·         The floor price is 68 times the face value of the Equity Shares and the Cap price is 71.50 times the face value of the Equity Shares;

·         The price / earnings ratio based on diluted EPS for Fiscal 2023 for our company at the upper end of the price band is as high as 21.45 times

Krystal Integrated Services Limited (“KISL” or “The Company”) shall open its Bid / Offer in relation to its Initial Public Offer of Equity Shares on Thursday, March 14, 2024.

The Offer Size comprises of fresh issue of Equity Shares aggregating up to Rs 1,750 million (Rs 175 crore) (The “Fresh Issue”) and Offer for Sale up to 1,750,000 Equity Shares (The “Offer for Sale”). (Together, The “Offer”)

The Price Band of the Offer has been fixed at Rs 680 to Rs 715 Per Equity Share. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter. (The “Price Band”)

The Anchor Investor Offer shall be on Wednesday, March 13, 2024. The Bid/Offer will open on Thursday, March 14, 2024 for subscription and close on Monday, March 18, 2024. (The “Bid / Offer Period”)

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding – (i) Repayment/prepayment, in full or part, of certain borrowings availed of by the Company amounting to ? 100 million (? 10 crore); (ii) Funding working capital requirements of the Company amounting to ? 1000 million (? 100 crore); (iii) Funding capital expenditure for purchase of new machinery amounting to ? 100 million (? 10 crore) and (iv) balance amount towards General corporate purposes.

The Offer for Sale comprises of up to 1,750,000 Equity Shares by Krystal Family Holdings Private Limited. The proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder. (The “Promoter Selling Shareholders”)

The Equity Shares offered through this Red Herring Prospectus of the Company dated March 4, 2024 filed with Registrar of Companies, Maharashtra at Mumbai (“RoC”).

The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received an ‘in-principle’ approval from each of the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”) for the listing of the Equity Shares pursuant to letters dated December 12, 2023 and December 11, 2023, respectively. For the purposes of the Offer, BSE is the Designated Stock Exchange.

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. This Offer is being made in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company and the Promoter Selling Shareholder may, in consultation with the Lead Manager, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds.

Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. One-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ?0.2 million and up to ?1 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ?1 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

Inga Ventures Private Limited is the Book Running Lead Managers to the Issue.

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.

Photo Caption  (L-R) Mr. G S Ganesh, Founder, Inga Ventures Limited, Mr. Barun Dey – Chief Financial Officer, Krystal Integrated Services Limited, Mr. Sanjay Suryakant Dighe - Chief Executive Officer and Whole time Director, Krystal Integrated Services Limited, Mr. Prasad Minesh Lad – Promoter, Krystal Integrated Services Limited, Mrs Neeta Prasad Lad – Promoter, Chairperson and Managing Director, Krystal Integrated Services Limited, Mr. Shubham Prasad Lad – Promoter, Whole Time Director, Krystal Integrated Services Limited.

Cleartrip Returns With The Biggest Summer Travel Extravaganza - #NationOnVacation

* The second year of Cleartrip’s Marquee Travel Sale Event promises great deals across flights, hotels, buses and packages!

With summer just around the corner, Cleartrip, a Flipkart company, announced the second edition of its highly anticipated marquee travel sale #NationOnVacation. The 9-day travel extravaganza starts on 14 March 2024 and is set to revolutionise the travel experience by presenting attractive deals on hotels, flights, buses, and packages. Amidst high demand, airfares are likely to go up for the summer season. With #NationOnVacation, Cleartrip and Flipkart Travel are providing an opportunity for their customers to take advantage of the best offers on their platforms and book their dream holidays. In line with its customer-centric values, Cleartrip, under the umbrella of ‘ClearChoice’, is offering greater flexibility for its users. With ClearChoice PLUS and ClearChoice MAX, travelers can cancel or modify their bookings and get a full refund as opposed to the standard airline changes ranging from INR 2500 onwards. Myntra and Flipkart Loyalty customers can look forward to special offers and discounts on the Cleartrip and Flipkart Travel platforms.

Speaking on the occasion, Ayyappan Rajagopal, CEO, Cleartrip, said “#NationOnVacation was built with the idea of instilling a sense of planning travel way in advance in the minds of travellers. We were thrilled with the response to NationOnVacation last year and are excited to bring it back with offerings that will make summer a memorable holiday for all. Fares are expected to jump by 20-25% for bookings that will be made later in April and May when compared to planning in advance and booking now. With curated and customer-centric deals, we wish to celebrate India’s love for summer travel by making it more affordable than ever before. With ClearChoice fares, travelers can eliminate anxieties related to last-minute planning and ensure great value for money. Book now to lock in the best deals, get ahead of potential spikes in fares and enjoy a superior travel experience.”

Key offers include:

Domestic flights starting from INR 999 

International flights starting from INR 4999

4- & 5-star hotels starting from INR 2499

Up to INR 500 off on bus bookings

ClearChoice MAX on Domestic flights at a flat 599

30-80% off on hotel bookings

ClearChoice plus at Rs.49 + Up to 10% additional discount on hotels

ClearChoice MAX at Rs.1 + Up to 15% additional discount on hotels

The above are subject to availability & for a Limited period only.

Last year’s #NationOnVacation witnessed an incredible success, with a 60% increase in bookings across categories compared to the same period in 2022. Cleartrip remains dedicated to investing in industry-first and customer-centric propositions throughout the year to make travel accessible to a broader demographic.

T&C: Please read all the terms and conditions carefully before availing the above offers and booking on our platform.

About Cleartrip

Launched in July 2006, Cleartrip Pvt Ltd., a Flipkart company, has emerged as India’s fastest-growing online travel technology company. In April 2021, Flipkart acquired a majority stake in Cleartrip. Cleartrip recently emerged as the no. 2 OTA player as per a study by VIDEC. With an aggressive plan to emerge as a leading innovator in the industry, Cleartrip is on its way to building a differentiated value proposition for its customers looking for end-to-end travel solutions. With industry-first offerings such as ‘CT Flexmax, CT Flex, CT Upgrade and Cancel for No Reason’, Cleartrip has a clear vision to provide innovative solutions in the OTA segment. Combining intuitive products with a customer-centric approach and a wide selection of flights, hotels, and buses, Cleartrip brings a unique selling point to the market, offering its customers convenience, choice, competitive prices, and premium content.

28 Students of Aakash Educational Services Limited Qualify For OCSC/IMOTC 2024

In a remarkable display of academic excellence, 28 students from Aakash Educational Services Limited (AESL) across the nation have qualified for the Orientation Cum Selection camp (OCSC) and International Mathematical Olympiad Training Camp (IMOTC) of the prestigious Indian National Olympiad (INO) 2024 in Astronomy, Biology, Chemistry, Mathematics and Junior Science.

Among these accomplished individuals, 14 students have qualified for OCSC in Biology, 2 students in Chemistry, 3 students in Astronomy, 4 students in Junior Science and 5 students in IMOTC. This year a whopping 344 students of Aakash qualified for various INOs.

Expressing his delight, Mr. Anup Agarwal, Chief Business Officer, Aakash Educational Services Limited said, “We are immensely proud of the outstanding achievement of our students in qualifying for the Indian National Olympiad. Our students continue to shine brightly on the national stage, showcasing their exceptional talent and dedication. Their unwavering dedication, coupled with the relentless support of our exceptional faculty and parents, epitomizes the spirit of excellence that defines Aakash. We extend our heartfelt congratulations to all the students and wish them continued success in their academic endeavors.”

The INO examination, conducted by the Homi Bhabha Center for Science Education (HBCSE), serves as the second level of the International Olympiad qualification in different Science subjects and as the third level of International Mathematical Olympiad. INO stage of Junior Science is conducted by IAPT. Participation in the INO is open to students who have qualified the National Standard Examination (NSEs) (1st stage of International Science Olympiad) and Regional Mathematical Olympiad (RMO) (2nd stage of International Mathematical Olympiad).

On the basis of their performance in INO, approximately 30-35 top students in the merit list are selected for OCSC/IMOTC. For Science Olympiads, the student undergoes some theoretical and experimental sessions in the camp. The selected member Indian team undergoes a rigorous training programme at HBCSE in theory and experiments. Special laboratories have been developed at HBCSE for the purpose of experimental training. For Mathematical Olympiad, several tests are held during the training camp to provide orientation to students for IMO, followed by 8-10 days of rigorous training in Pre-Departure (PDC) for the selected team. Resource persons from HBCSE and different institutions across the country train the qualified students. The Olympiad programme culminates with the participation of the Indian students (4-6 in each subject) in the International Olympiads.

Aakash remains steadfast in its mission to empower students on their academic journey. With a centralized in-house approach to curriculum development, content creation, and faculty training overseen by the National Academic Team, Aakash ensures a holistic learning experience. The institution boasts a proven track record of success in medical and engineering entrance exams, as well as in competitive tests such as Olympiads, and NTSE.

FADA Releases Feb'24 Vehicle Retail Data For The State Of Karnataka

The Federation of Automobile Dealers Associations (FADA) released Vehicle Retail Data for Feb'24 for the State of Karnataka.

Feb'24 Retails

Commenting on how Feb'24 performed, FADA Karnataka State Chairperson, Mr Dharma Teja G said,  “The month of February has continued the good start Karnataka has had to the calendar year 2024 for Auto retail. All the categories have seen a strong growth with 2sW at 23.5%, PV at 16.8%, 3W at 48.5% and CV at 14.1%. With the GDP growth numbers being robust. We are hoping that the momentum will continue for the rest of the year.”

Capri Global Capital Slashes Gold Loan Interest Rate By 100 bps* In A Limited Period Offer

Other Offer Highlights:

-Zero processing fees

- Instant transfer to bank account

- Safe and secure storage

Capri Global Capital Ltd, a leading non-banking financial company announced a reduction in its gold loan interest rates by 100 bps. This exclusive offer is available for a limited time until March 31, 2024. With this reduction in interest rate, customers may now have to pay as low at Rs. 0.83 per Rs. 100 per month as interest rate.

Starting from 9.96%* p.a., gold loans offer can be availed by both new and existing customers, who can seize this opportunity, with zero processing fees*. This offer not only ensures prompt financial assistance through quick disbursement, but also allows customers to access funds swiftly during urgent times. The scheme offers flexible repayments. Customers will benefit with minimal documentation, complete digital applications, and no income proof requisite.

Mr. Rajesh Sharma, Managing Director of Capri Global Capital Ltd, said that "At Capri Global Capital, our primary focus is to enhance customer satisfaction through persistent quality service. This scheme allows us to broaden our reach and cater to an even larger audience. With a presence in 9 states and over 750 branches dedicated to gold loans, we aim to provide our borrowers with the advantage of reduced interest rates, leading to overall cost savings. We strictly adhere to RBI regulations and compliance frameworks, ensuring our sustained growth while delivering exceptional services to our valued customers. By making gold loans more affordable, we empower a wider customer base, and ease financial burdens.”

Under this offer, customers could avail a loan amount of up to 75% of the total collateral value. The valuation of the gold is meticulously conducted using cutting-edge instruments and skilled staff. Tamper-proof lockers and AI-enabled security vaults are continuously monitored by CCTV surveillance to ensure the safety of the deposited gold. Customers can avail of this offer by visiting the nearest gold loan branch of Capri Gold Loans.

For further details, please click on the provided link. https://bitly.ws/3fvN3

About Capri Global Capital Ltd:

Capri Global Capital Limited (CGCL) is a diversified Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small cap 250 Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loan, and Construction Finance. The Company also acts as a corporate distributor for car loan products of six leading commercial banks. CGCL offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 900+ branches spread across 12 States and Union Territories. The tech-enabled processes and recently introduced business analytics ensure that CGCL offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework. CGCL enjoys a robust credit rating of ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program and NCDs and the highest rating of ‘IVR A1+’ for its short-term borrowing program. The Housing Finance business is rated ‘CARE A+ (Outlook Stable)’ for its long-term borrowing program. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2024-25 for a third consecutive year.

For further information, visit:  www.capriloans.in  |  www.caprihomeloans.com

Bank of Baroda Launches “bob Earth Green Deposits”

* As part of its ESG initiatives, Bank of Baroda launches bob Earth Green Term Deposits, the proceeds of which will be specifically earmarked for environment-friendly projects/sectors

Bank of Baroda (Bank), one of India’s leading public sector banks announced the launch of the “bob Earth Green Term Deposit Scheme”, with the aim to raise deposits that will be deployed towards financing eligible environment-friendly projects and sectors.

The bob Earth Green Term Deposits offer depositors the opportunity to earn attractive interest rates on a range of tenors and participate in India’s transition to a green and sustainable economy. The Bank is offering interest rates of up to 7.15% p.a. The General Public/Resident Indians, NRIs and High Net worth Individual (HNI) investors are all eligible to invest in the bob Earth Green Term Deposit scheme.

Shri Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “The Bank has taken great strides in embedding sustainability into its operations, including our approach to risk management, governance, social responsibility and environmental impact. The launch of the bob Earth Green Term Deposit Scheme offers depositors dual benefits of stable & secure financial returns and the opportunity to contribute to a greener planet. As one of India’s leading banks, Bank of Baroda is committed to furthering its ESG mandate and enhancing its green financing portfolio.”

Under the bob Earth Green Term Deposit Scheme, Bank of Baroda has introduced some innovative tenures that act as a reminder of the planet’s Climate & Sustainability goals, such as Tenure 1.5 years – signifying the aim to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels and Tenure 1717 days – doubly emphasising the United Nations’ 17 Sustainable Development Goals.

The funds raised through bob Earth Green Term Deposits will be allocated to eligible green projects/sectors such as Renewable Energy, Clean Transportation, Sustainable Water and Waste Management, Energy Efficiency, Climate Change Adaptation, Pollution Prevention and Control, Green Buildings, Biodiversity Conservation etc.

Existing and new customers of Bank of Baroda can open a Green Deposit through any of the Bank’s branches across India.

On Bank of Baroda’s 116th Foundation Day last year, the Bank launched a number of green initiatives under the name of “bob Earth” to reaffirm its commitment and responsibility towards protecting & preserving the gifts of nature for our future generations. The launch of bob Earth Green Deposits is a step forward in this direction.

About Bank of Baroda

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of ~165 million through over 70,000 touch points spread across 17 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank.

Visit us at www.bankofbaroda.in

Le Virsella Salon At BLVD Club Sets New Beauty Trends In Bangalore

Le Salon Virsella, nestled in the heart of North Bangalore, is setting a new benchmark in beauty and grooming services. With a commitment to excellence and innovation, this salon, with its exquisite décor, at BLVD Club, Embassy Boulevard offers a diverse range of services catered to meet the discerning needs of its clientele.

Here’s what sets Virsella apart:

1. Extensive Service Categories: The salon boasts a comprehensive array of services, including nail art, gel polish and extensions, signature dry manicures and pedicures, eyebrow architecture and lash extensions, makeup, hair services, and men’s grooming.

2. Hot Selling and Unique Offerings: At Le Salon Virsella, a wide range of services are available, with the most popular ones being nail services, eyebrow shaping, lash extensions, and hair coloring. Moreover, the salon is renowned for its distinctive features such as dry manicures and pedicures, lash extensions, and creative nail designs, ensuring customers receive an exceptional and unmatched experience.

3. Specialized Men’s Grooming: At Virsella, men's grooming is a personalized experience, blending contemporary styles with precision to give a perfectly chiseled look. The salon experts employ modern techniques for haircuts, beard shaping, and trimming, ensuring every visit leaves the client with a satisfying experience.

4. Unrivalled Expertise: Each stylist and technician at Virsella undergoes rigorous training from international beauty experts ensuring that services are performed to the highest standards. Their passion and dedication shine through in every service provided.

5. Professional Team: The salon boasts a team of hairdressers, nail artists, grooming experts, and makeup artists, each specializing in their respective fields to effectively cater to all beauty needs.

6. High-Quality Products: It utilizes premium and luxury products from esteemed brands like Davines, ensuring top-notch results for every client.

7. Festive and Bridal Packages: As a special treat, Virsella offers exclusive discounts if one happens to avail their festive or bridal packages.

For booking an appointment visit lesalonvirsella.com or call +91 6366887357. 

About BLVD Club by Embassy:

BLVD Club is Embassy’s private luxury club, among the very few of its kind in the world. Offering the perfect mix of social, business, leisure and recreational facilities, the club will also connect its members with a curated selection of lifestyle experiences, bespoke privileges and affiliations. Above all, it will be home to a community of like-minded and forward-thinking individuals, connected through a common way of life. To belong to the BLVD community is to be exposed to a curated lifestyle experience that is customized and at the same time set in a vibrant and stimulating environment.