Latest news with #CCPS
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Business Standard
4 days ago
- Business
- Business Standard
Diageo India to acquire majority stake in NAO Spirits for ₹130 cr
Diageo India (United Spirits) on Thursday announced that it is acquiring a controlling stake in NAO Spirits at an enterprise value of ₹130 crore ($15.2 million), resulting in NAO Spirits becoming a subsidiary of the company, it said in a release. United Spirits will first purchase 37,683 equity shares of NAO from its existing shareholders, in two tranches, for an aggregate consideration of approximately ₹53.80 crore, according to a stock exchange filing. It will then subscribe afresh to 31,820 equity shares and 27,577 compulsorily convertible preference shares (CCPS) of NAO for a total consideration of approximately ₹56 crore. 'Upon successful completion of both the acquisition of shares in the first tranche under the SPA (share purchase agreement) and the fresh subscription (which will occur simultaneously), the company will hold shares constituting approximately 97.07 per cent of the paid-up share capital of NAO, resulting in NAO becoming a subsidiary of the company,' United Spirits said in its exchange filing. The company also said that the board of directors, in its meeting on Thursday, has authorised a further investment of up to ₹20 crore in NAO by way of subscription to CCPS and equity shares, in one or more tranches, to fund the working capital and other requirements of NAO from time to time. Praveen Someshwar, managing director and chief executive officer, Diageo India (United Spirits), said in the release: 'Ventures, Diageo India's investment arm, is dedicated to strengthening our portfolio by investing in disruptive alco-bev start-ups. This allows us to offer consumers a wider array of products that resonate with evolving preferences. The acquisition of NAO Spirits, a promising portfolio company within our Ventures arm, represents a pivotal step in exploring future growth opportunities in Indian craft spirits.' Someshwar added that the company believes it is the right time to scale up NAO Spirits using Diageo's expertise, unlocking new avenues for distribution and production. He further said that over the past few years, India has seen the emergence of multiple craft gin players, and NAO Spirits has become a leader in the category. 'As consumers shift towards experimentation, repertoire, and casual drinking occasions, demand for local yet authentic, craft-oriented brands is on the rise. NAO Spirits' brands are well placed to cater to these evolving trends. Diageo India already has leading international gin brands such as Tanqueray in its portfolio,' he said.
Time of India
11-06-2025
- Business
- Time of India
Uncertainty over strategy of JPVL lenders clouds Jaypee Associates' debt resolution
Uncertainty around the future strategy of lenders to Jaiprakash Power Ventures Ltd (JPVL) could prove a hurdle in the corporate debt resolution of Jaiprakash Associates Ltd (JAL), the holding company of the Jaypee Group, people familiar with the matter said. JPVL - a listed associate of JAL with a market capitalisation of over ₹12,000 crore - is the most valuable asset in JAL's portfolio that also includes real estate, cement and fertiliser plants. As part of a debt restructuring, JPVL issued compulsory convertible preference shares (CCPS) worth ₹3,800 crore to its lenders in 2019. Upon their conversion into shares, the lenders could emerge substantial shareholders of JPVL. JAL only has a 24% ownership in JPVL as of March end, and 79.2% of promoter shares were pledged as collateral for loans. Bidders of JAL - including some of the largest corporate names - are unclear if and when banks plan to exercise their right to convert the CCPS into shares, people cited above said. The debt restructuring agreement left the timeline for conversion of the CCPS into shares open-ended. They can be converted into shares anytime "after 20 years or earlier," according to the documents. The potential bidders are now seeking clarity from lenders on their conversion plans, arguing that this information is crucial to calculate the value of the holding company when bidding, the sources said. Government-backed National Asset Reconstruction Company Ltd (NARCL), to whom the JAL's lenders have assigned their debts, did not respond to ET's queries until press time Tuesday. Twenty-five entities including Adani Enterprises , Vedanta , GMR, Dalmia Cement Bharat, Naveen Jindal and BC Jindal group companies, Suraksha Realty, and Kotak Alternate Assets have shown interest in bidding for Jaiprakash Associates. "As the public shareholding of Jaiprakash Power Ventures Ltd is very high, the conversion of CCPS could further dilute the holding company's stake in JPVL," said Drushti Desai, partner at chartered accountancy firm Bansi S Mehta & Co.
Mint
03-06-2025
- Business
- Mint
IPO Watch: Aequs files for IPO on a confidential basis; plans to raise up to $200 million
IPO Watch: Aequs Limited (Aequs), a manufacturing platform embodying the 'Make in India' initiative designed for global markets, has confidentially submitted a draft red herring prospectus (DRHP) for an initial public offering (IPO) to the stock market regulator, SEBI, and stock exchanges, as indicated by a public announcement that was published on June 3, 2025. The company offers a comprehensive, precision manufacturing ecosystem for the aerospace and consumer sectors. Recently, the Board of Directors of Aequs Ltd. approved a resolution to transition the company's status to a public entity and to change its name from 'Aequs Private Limited' to 'Aequs Limited,' in accordance with its regulatory filing. Aequs has received considerable equity investments from its promoters over the years to expand the company's operations. Furthermore, it has drawn the attention of global investors like Amicus Capital, Amansa Capital, Steadview Capital, Catamaran (the family office of Infosys founder N. R. Narayana Murthy), Sparta Group, and the investment office of Desh Deshpande, according to publicly accessible information. The firm successfully secured external funding through Convertible Cumulative Preference Shares (CCPS), totaling approximately ₹ 586 crore from private equity investors, which will be utilized to support the growing scale of its operations as indicated in a CareEdge Ratings report dated July 5, 2024. In FY24, the company's total income was about ₹ 988 crore (as per regulatory filings), while its total operating income reached ₹ 970 crore (according to the CareEdge Ratings Report) during the same fiscal year. Based on successful completion of its capital expenditure project and consistent order inflow in the aerospace sector, CareEdge Ratings anticipates that the company's revenue will experience a compounded annual growth rate (CAGR) of 45% in the near to medium term. The report highlighted that the company benefits from ongoing support from its promoters. Aravind Melligeri, the founder and Chairman & CEO, possesses decades of experience in the aerospace field and is a co-founder of QuEST Global Engineering Private Limited. Recently, the company announced the appointment of Jean-Michel Condamin as the Chief Executive Officer (CEO) of its Aerospace Division, while Rajeev Kaul serves as the Managing Director of Aequs Ltd. According to sources and previous media reports, the company is allegedly preparing to initiate an IPO valued at $200 million. The offering is expected to include both a new issue of equity shares and an offer for sale (OFS) segment, based on the company's regulatory documents. The company chose not to provide any comments. The book running lead managers for the IPO are said to be Kotak Mahindra Capital, JM Financial, and IIFL Capital. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
New Indian Express
30-05-2025
- New Indian Express
Cyber cells in seven zones to combat cybercrime in Hyderabad
HYDERABAD: Hyderabad City Police Commissioner CV Anand on Thursday inaugurated Zonal Cyber Cells (ZCCs) across all seven zones. Speaking at a press meet at the CCS office, Basheerbagh, he said each cell will operate under the supervision of the respective DCP. The initiative aims to deliver swift, localised responses to the rising threat of cybercrime. The ZCCs will serve as dedicated hubs within each zone for registering complaints, investigating cases, blocking fraudulent transactions and ensuring maximum refunds to victims. They will also provide timely support and collaborate with the Cyber Crime Police Station (CCPS) and external cyber forensic experts for complex investigations. Since its establishment in 2010, the CCPS has struggled to keep pace with the surge in cybercrime. Registered cases increased from 351 in 2015 to 3,111 in 2024 — a nearly 10-fold rise. Recognising this, Hyderabad police have decentralised cybercrime handling by setting up ZCCs. Staffed by 61 personnel — including seven sub-inspectors, three head constables, 36 police constables, and eight home guards — the ZCCs will act as task forces assisting local police in case detection, investigation, and refund facilitation. Cyber Crime DCP D Kavitha highlighted that these dedicated units possess the specialised skills required for cyber investigations, which local stations often lack. The police urge citizens to report cybercrimes via the 1930 Cyber Crime Helpline or at nearby police stations. Complaints registered on the National Cybercrime Reporting Portal are forwarded to ZCCs for prompt action, strengthening Hyderabad's digital security framework.
The Hindu
29-05-2025
- The Hindu
Zonal Cyber Cells in Hyderabad for swift response to digital offences
The Hyderabad police on Thursday (May 29, 2025), inaugurated Zonal Cyber Cells (ZCCs) across all seven police zones in the city to provide decentralised, swift, and efficient responses to the growing volume of digital offences. Their tasks The Zonal Cyber Cells are tasked with several critical responsibilities: promptly register complaints on the National Cybercrime Reporting Portal, block fraudulent transactions, facilitate refunds for victims, enhance detection rates to track and apprehend cybercriminals and work in tandem with cyber forensics experts to investigate complex cases. They will also hold public awareness campaigns on cyber safety. The move comes against a backdrop of a surge in cybercrime cases over the past decade: from 351 cases in 2015 to 3,111 in 2024, marking an increase of over 786%. The sharpest spike was recorded between 2019 and 2020, when cases nearly doubled from 1,393 to 2,550. Each unit will be staffed with trained officers and function directly under the supervision of the respective Zonal deputy commissioner of police, enabling faster case resolution and better engagement. The ZCCs will work closely with the Cyber Crimes Police Station (CCPS) for technical support and expertise. The CCPS, established in 2010 with 40 personnel, saw a major boost in manpower in 2023. It now operates with 147 staff members, including a deputy commissioner, additional DCP, nine inspectors, and 20 sub-inspectors, among others, who played a key role in training the ZCC personnel. A total of 61 officers were deployed across the ZCCs, including inspectors, sub-inspectors, head constables, police constables, and home guards. These officers underwent an intensive training programme conducted by the CCPS and supported by cyber forensics and legal experts from external organisations. The training focused on practical investigation techniques, digital evidence handling, and emerging cyber threats.
