Cremica plans expansion in the ready-to-eat foods, snacks and liquid condiments section
Diversified food products company, Cremica group is planning to launch an initial public offer (IPO) in 2012.
"The company operations are doing quite well. We are looking forward to an IPO in 2012," Ludhiana-based Cremica managing director Akshay Bector told PTI in an interview.
The time is ripe to launch an IPO as the company's turnover is expected to cross Rs700 crore this fiscal, he said, adding that the turnover of Rs700-Rs1,000 crore is of a fairly good size to go in for an IPO.
The Cremica Group, which makes wide-range of products like biscuits, ketchups, toppings, breads and buns, and ice creams, wants to hit the capital market to raise funds through an IPO for expansion of its business activities.
"There is scope for further growth. There are plans to expand in the ready-to-eat market in the country," Bector said.
While biscuits continue to be the biggest contributor to the top line, Cremica plans expansion in the ready-to-eat foods, snacks and liquid condiments section.
At present, Cremica's products largely mark their presence in North India. The company hopes to spread its wings in other parts of the country, he added.
JLL Corporate Finance will address the requirements of corporates which are not in the business of real estate to make informed decisions about acquiring, disposing of or optimally utilising their existing real estate assets
Jones Lang LaSalle India, the country's largest international property consultancy, has launched an exclusive corporate finance division. JLL Corporate Finance will address the requirements of corporates which are not in the business of real estate to make informed decisions about acquiring, disposing of or optimally utilising their existing real estate assets while enhancing shareholder value.
"This division has been established specifically to service companies that are not into the real estate business and yet have real estate holdings, be they leased or owned," says Ambar Maheshwari, managing director-corporate finance, Jones Lang LaSalle India. Every business is functionally into real estate, but not every business has the expertise required to make sound business decisions about its estate holdings.
Anuj Puri, chairman & country head, Jones Lang LaSalle India, says, "JLL Corporate Finance will assist corporates to make informed decisions about acquiring, disposing of or optimally utilising their real estate, regardless of whether they occupy it or have acquired it purely from an investment perspective."
Depending on market dynamics, geographic specifics and the business typology, buying or selling a land parcel may not be the best possible option for a corporate - even if the real estate market is on an apparent upswing. Based on a professional analysis of the corporate's real estate portfolio, an expert advisory can come up with the best solutions which may be a joint venture, a strategic partnership with a developer or occupier, or conversion into a full-fledged income-generating asset via sale/lease-back transaction.
When it comes to such focused services, there is currently a huge gap between what is required and what is being offered on the marketplace. While IPCs already service a large variety of stakeholders in the market, these stakeholders tend to primarily consist of real estate developers and occupiers. Advisory entities that currently service corporates who are not into real estate are accounting firms, investment banks and boutique financial players. Such entities generally advise corporates on various shareholder-related issues-and while real estate may be one of the advisory aspects, they are invariably ill-equipped to offer expertise-based insights into this area.
"Considering that optimal value creation for shareholders is a key concern for large companies, and that real estate is an extremely significant asset class, this aspect needs to be addressed by experts and not via proxy by non-specialist agencies," says Mr Maheshwari.
As per TRAI's latest directive, the service provider shall obtain confirmation from the consumer within 24 hours of activation of the VAS. Further, every service provider shall, at least three days before the due date of renewal of a subscribed VAS, inform the consumer through SMS
New Delhi: In a bid to protect the interest of consumers, the Telecom Regulatory Authority of India (TRAI) today issued directives to service providers on the procedure for providing value-added services (VAS) to users, reports PTI.
"...the service provider shall obtain confirmation from the consumer through SMS or e-mail or fax or in writing within 24 hours of activation of the VAS.
"He should charge the consumer only if the confirmation is received from him for such value-added service and shall discontinue if no confirmation is received," TRAI said in a statement.
Further, every service provider shall, at least three days before the due date of renewal of a subscribed value-added service, inform the consumer through SMS.
If there is insufficient balance in the pre-paid account of a consumer at the time of renewal of subscription to a value added service, the service provider shall send a request, through SMS.
Last year, TRAI had floated a paper seeking comments from telecom operators on measures for protecting consumers' interest and redressal of customer grievances.
The consultation paper aimed to strengthen the regulatory framework and provide adequate protection to telecom consumers.
TRAI had convened a meeting of the chief executives of different telecom service providers and consumer advocacy groups relating to telecom consumer protection and redressal of consumer grievances.
The telecom regulator had said while the authority has brought out regulations on quality of service, grievances redressal and telecom consumer protection, it was a constant endeavour to revisit the redressal mechanism to further benefit the consumers.