This project fund raising will support their “Young Youth Leadership Programme” enabling it to plant saplings, establish kitchen gardens and conduct climate education trainings with domain experts with an outreach and benefit to over 45,000 student earth leaders.

The successful fundraise marks a significant milestone for both Council for Green Revolution and the NSE SSE platform as it has attracted over 150 retail donors contributing to the issuance with as small as Rs. 1,000/- This is a testament to the SSE’s potential to unlock large pools of retail investment and democratise philanthropy.

NSE-SSE has recently enabled e-IPO via both ASBA and UPI mechanisms. Following the same, this ceremony also acknowledged and felicitated the efforts and initiatives of one of trading members – Fyers, which has championed this initiative by developing and enabling the UPI mechanism on NSE-SSE, resulting in over 50 organic donations in the current issuance. This will inspire and encourage other trading members to enable the UPI mechanism and donation seamlessly.

Speaking on this momentous occasion and the impact of the project of Council for Green revolution, Shri Sriram Krishnan, Chief Business Development Officer, NSE elucidated, “To contribute to the vision of the Government of India to bring capital markets closer to the masses and to facilitate social inclusion through NSE’s SSE, the exchange platform under the guidance of SEBI has been taking steadfast and concrete steps to this effect. The listing of the Council for Green Revolution is a significant milestone, as it represents the first environment and climate action-focused initiative on the platform, reinforcing our dedication to sustainability and social impact”.

The post Council for Green Revolution Marks 14th Listing on NSE-SSE as a Pioneer in Climate Action Initiatives appeared first on NRI News.

The post Inventurus Knowledge Solutions Limited (IKS) Listing Ceremony appeared first on NRI News.

Extra Emphasis On The Yard Or Outdoor Space

When someone buys a house, especially one that is a fixer-upper, most of their time, energy, and resources will be spent making the interior nice. It is rare for someone to think about their front yard when their kitchen is under renovation or when they’re taking a sledgehammer to a wall in order to create a bigger living room. If you list a house that already has a decent or even finished outdoor space, it could not only sell faster but also increase the property value. 

A few easy ways to makeover a yard might be to add a deck onto the back porch, plant shrubbery to create a hedge and therefore privacy, or even sodding it so that you have green grass instead of a patch of dirt. These are fairly inexpensive projects whose aesthetic value could go a long way for you and your clients! 

Declutter, No Open Storage

Your clients might believe they have exquisite taste in interior decoration and that all of their knick-knacks should be displayed for every visit. The unfortunate truth is that no potential buyer wants to go into a home and see someone’s things there. 

You need to give your buyers a blank slate, a white canvas if you will. Upon this, they will be able to visualize themselves and their family living in that space. This is hard to achieve when you have open storage, cluttered shelves, and a general air of disorganization. Declutter your space and you’ll find your home is totally transformed.

Call An Interior Designer To Realize Its Full Potential

If you’re having a hard time selling due to an out-of-date floor plan or because the overall layout is lacking modernity, why not call in an interior designer or architect to create a mock-up of what the place could look like? The interior designer will be able to draw up blueprints for an entirely new home. 

They will change the layout to something more open-plan and possibly even suggest an extension. You will be selling the property’s potential and everything that it could offer and your buyers will be able to see the endless possibilities that come along with purchasing a house that needs a little bit of love and a lot of updating.

Image by Drazen Zigic on Freepik

The post 3 Ways To Add Charm And Value To Your Listings  appeared first on NRI News.

NEW DELHI: Avtar Group, India’s premier Diversity, Equity & Inclusion (DEI) Solutions firm has been named in the annual listing of 25 companies in Asia Pacific that have demonstrated excellence in Steward Leadership. The recognition by Stewardship Asia Centre (SAC), INSEAD Hoffmann Global Institute for Business and Society, WTW (Willis Towers Watson), and The Straits Times is for Avtar’s work towards “Transforming workplaces for gender inclusion”. Avtar is one of the two Indian companies (another being, Marico) that has made the SL25 among an impressive number of companies that are featured in the listing.

Avtar Group through its work in the space of Diversity, Equity & Inclusion (DEI) for the past two decades has pioneered several DEI initiatives in corporate India and has helped over 500+ organizations in their Diversity, Equity, and Inclusion cultural transformation.  The 360-degree DEI solutioning from Avtar helps organizations aspiring for a performance-driven, inclusive culture to institute culture guidelines and follow a strategic diversity roadmap for gender balance and an inclusive workplace for all.

“Even when there are alarming statistics reporting the widening gender gaps across the globe, this global recognition towards “Transforming Workplaces for Gender Inclusion” reaffirms the fact that India stands in a position to advance bridging the gender gap in the corporate corridors. We at Avtar are deeply honored for the SL25 recognition and inspired to further influence the “social” pillar of ESG critically through our vision for gender-inclusive workplaces.  We hope to extend our impact beyond India by providing Diversity, Equity, and Inclusion benchmarks and solutions for organizations in the Middle East and Singapore,” said Dr. Saundarya Rajesh, Founder – President, of Avtar Group receiving the commendation at the Steward Leadership Summit held at Shangri-La, Singapore.

Stewardship is creating value by integrating the needs of stakeholders, society, future generations, and the environment. Steward leadership excellence demands genuine desire and persistence to pursue a corporate agenda beyond profit-making.  Organizations in the SL25 list are recognized for demonstrating steward leadership in strategy, execution, and in shaping the culture.

Steward Asia Centre is a non-profit organization established by Temasek to help businesses and government leaders, investors and individuals activate stewardship practices through research, executive education, and engagement.

“A rapidly changing world reinforces the principle of taking ownership to do the right thing and a mindset shift that is critical to driving all of us to work together towards enduring value creation for the benefit of stakeholders, society, the environment, and our future generations. These organizations’ initiatives have made a difference, and I hope they will inspire others to act,” said Mr. Lim Boon Heng, Chairman of Temasek Holdings, who unveiled the inaugural list at the Steward Leadership Summit.

The 25 organizations and their initiatives were honored at the Steward Leadership Summit, held in Singapore. Mr. Chan Chun Sing, Minister for Education, Singapore, graced the event as a guest of honor and delivered the keynote address. More than 350 participants attended the event.

“It is really heartening to see the efforts and persistence of so many organizations striving to create lasting positive change in the environment and community. In honoring these 25 inspirational initiatives, our eventual goal is for steward leadership excellence to be the norm instead of the exception, where every firm is committed to establishing a win-win-win outcome for employees, shareholders, and society at large,” said Rajeev Peshawaria, CEO of SAC.

Among the corporates that are featured in the listing include Avtar Group, BNP Paribas Asset Management, DBS Bank Limited, Faber-Castell AG, Marico Limited and Tata Consultancy Services, and UBS AG.

The post Avtar Gets Listed In Asia Pacific Steward Leadership 25 Listing 2022 appeared first on NRI News.

MUMBAI: Keystone Realtors Limited (the “Company”), which operates under the brand ‘Rustomjee’ and is one of the prominent real estate developers (in terms of absorption in a number of units) in the micro markets that it is present in, will open its initial public offering on November 14, 2022.

The Price Band of the offer has been fixed at ₹ 514 to ₹ 541 per Equity Share of face value ₹ 10 each. Bids can be made for a minimum of 27 Equity Shares and in multiples of 27 equity shares thereafter.

The initial public offering comprises a Fresh Issue aggregating up to ₹ 5,600.00 million and an Offer for Sale of up to ₹ 750.00 million by the Selling Shareholders comprising up to ₹ 375.00 million by Boman Rustom Irani, up to ₹ 187.50 million by Percy Sorabji Chowdhry and up to ₹ 187.50 million by Chandresh Dinesh Mehta.

The Company intends to use the proceeds of the fresh issue for repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the subsidiaries; funding acquisition of future real estate projects, and general corporate purposes.

This is an Offer in terms of Rule 19(2)(b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in terms of Regulation 6 (1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs and such portion, the “QIB Portion”), provided that our Company and the Selling Shareholders, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”), out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”). Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders (out of which one-third shall be reserved for Bidders with Bids exceeding ₹ 200,000 up to ₹ 1 million and two-thirds shall be reserved for Bidders with Bids exceeding ₹ 1 million) 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 from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are mandatorily required to utilize the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders using the UPI Mechanism, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank 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.

The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.

Axis Capital Limited and Credit Suisse Securities (India) Private Limited are the Book Running Lead Managers.

Risk to Investors:

We carry the risk of high debt as our business is capital intensive and requires significant expenditure for real estate project development, which we fund through financing from banks and other financial institutions. Our Debt / Equity ratio for Fiscal 2022 is 1.62 as against the average of the listed peer group of 0.53. Further, we had Net Cash Outflow from Operating Activities of ₹ (1,095.51) million in Fiscal 2022. Negative operating cash flows over extended periods, or significant negative cash flows in the short term, could materially impact our ability to operate our business and implement our growth plans.

We carry geographical concentration risk. As of June 30, 2022, all our projects were located within the Mumbai Metropolitan Region (“MMR”) and we generated all of our revenue from operations from the MMR. The table below provides details of our total available inventory and unsold inventory in the MMR for our Completed and Ongoing Projects as of June 30, 2022:

Our revenues carry the risk of concentration from residential projects. We almost entirely focus on residential projects, with very limited exposure to commercial and retail projects. Revenue from residential projects contributed 92.27%, 95.98%, 94.62%, 74.58%, and 94.26% of Revenue from Operations for the Fiscals 2020, 2021, and 2022, and for the three months period ended June 30, 2021, and June 30, 2022, respectively.

We are also subject to cost overruns including due to significant increases in prices or shortage of or delay or disruption in the supply of construction materials. The construction cost (including material cost) as a percentage of Revenue from Operations was 74.37%, 72.20%, 77.89%, 77.77%, and 79.26% in Fiscals 2020, 2021, and 2022 and the three months period ended June 30, 2021, and June 30, 2022, respectively.

The weighted average cost of acquisition per Equity Shares held by the Promoters or Selling Shareholders is as provided below and the Offer Price at the upper end of the Price Band is `541 per Equity Share.

As certified by M R M & Co., Chartered Accountants, pursuant to their certificate dated November 8, 2022.

The two BRLMs associated with the Offer have handled 44 public issues in the past three years, out of which 18 issues closed below the offer price on the listing date.

*Issues handled where there were no common BRLMs

Photo: Keystone Realtors Limited (Rustomjee) 1: L-R: Chirag Negandhi (Jt. Managing Director & Co-CEO, Axis Capital Limited), Sajal Gupta (Group Chief Financial Officer and Head Corporate Strategy, Keystone Realtors Limited), Boman Rustom Irani (Chairman and Managing Director, Keystone Realtors Limited), Chandresh Dinesh Mehta (Executive Director, Keystone Realtors Limited), Percy Sorabji Chowdhry (Executive Director, Keystone Realtors Limited) and Abhishek Joshi (Head of ECM India, Credit Suisse Securities (India) Private Limited) 

The post KEYSTONE REALTORS LIMITED INITIAL PUBLIC OFFERING IS TO OPEN ON NOVEMBER 14 2022 appeared first on NRI News.