Of Hookers and India Bulls

After receiving constant complaints of flesh trade, the social service branch of Mumbai Police raided a flat in Andheri. At least 3 people including 2 girls were arrested from the flat.

The flat belongs to former police commissioner and BJP MP Satyapal Singh.
The society which was raided on Saturday night consisted of flats of many eminent police officers. Also, the police team has recovered the electricity bill from the flat in the name of Satyapal Singh. The same name is mentioned on the board of the society.
According to information, the flat has been provided on rent to a company. The arrested person works for the same company.
Satyapal Singh, the owner of the flat said that he had given the flat on rent to India Bulls Company and that he is not responsible for unethical acts going on in the flat.-from DailyBhaskar

CDSL to go for an IPO

(Disclosure:I am market making in BSE)

The Bombay Stock Exchange plans to sell a part of its stake in Central Depository Services (India) Ltd through an initial public offer (IPO), three people with direct knowledge of the development said.
The exchange has to bring down its holding to comply with the Securities and Exchange Board of India’s norms on ownership in market infrastructure institutions.

The IPO will value the company at around Rs 700-750 crore, these people said.

“The boards of directors of BSE and CDSL have approved the proposed initial public offering plan,” an investment banker said.

BSE will now hire bankers to manage the issue and is looking at a listing by the end of the current financial year, people quoted earlier said.

As on April 30, CDSL managed 8,772,884 accounts with securities of Rs 11.28 lakh crore. Stocks and securities of around 14,738 companies are being managed by the depository.

BSE, Asia’s oldest exchange, holds 54.2% in CDSL and needs to trim it to below 24% to comply with Securities and Exchange Board of India’s norms on ownership and governance of market infrastructure institutions. –from ET

RBL Bank to start IPO process in the next 2-3 months

(Disclosure:I am market making in RBL Bank)

RBL Bank, formerly known as Ratnakar Bank, today said it plans to raise a minimum Rs 500 crore through an initial public offer in the fourth quarter of current financial year. 
“We will start the basic process for IPO in the next 2-3 months … we hope to hit the market in the early part of the next year,” RBL Bank Managing Director Vishwavir Ahuja told PTI.

“The quantum of offer is not finalised yet but we plan to raise minimum Rs 500 crore or 10 per cent of stake dilution,” he said.

The bank has build scale and size so that bank get right valuation for its shares, he added.

The bank currently services more than 5 lakh customers and has a total business size of over Rs 21,000 crore. It got capital support of about Rs 1,500 crore from global and domestic investors in the last three years.

Last month, the bank raised Rs 328 crore from a group of global investors, including CDC Group and Asia Capital and Advisors.-from ET

Concern Yes,Fear No

In 2007, Adelson’s estimated wealth was $26.5 billion, making him the third-richest person in the United States according to Forbes¬† and $26 billion for 2008.In 2008, the share prices of the Las Vegas Sands Corp. plunged. And in November 2008, Las Vegas Sands Corp. announced that it might default on bonds that it had outstanding, signaling the potential bankruptcy of the concern. Adelson lost $4 billion in 2008, more than any other American billionaire. In 2009, his net worth had declined from approximately $30 billion to $2 billion, or 93%. He told ABC News “So I lost $25 billion. I started out with zero…(there is) no such thing as fear, not to an entrepreneur. Concern, yes. Fear, no.” In the Forbes 2009 world billionaires list, Adelson’s ranking dropped to #178 with a net worth of $3.4 billion, but by 2011, after his business had recovered, he was ranked as the world’s 16th-richest man with a net worth of $23.3 billion. In 2013, Adelson earned a top ranking on Forbes’ Annual ‘Biggest Winner’ List, his dramatic growth a result of the success of his casinos in Macau and Singapore, adding an estimated $15 billion to his net worth during the year. In late 2013, Adelson was worth $37.2 billion according to Forbes.-from Wikipedia