Franklin India Prima Plus declares tax free dividend

All investors registered in the Dividend Plan as on 2 March 2012 will receive the tax-free dividend of Rs2.50 per unit.

Franklin Templeton announced a tax-free dividend of Rs2.50 per unit in its fund - Franklin India Prima Plus (FIPP). The record date for the dividend has been fixed as 2 March 2012. The fund invests in a diversified portfolio of wealth creating companies that generate a return on capital higher than their cost of capital.

All investors registered in the Dividend Plan as on 2 March 2012 will receive this tax-free dividend. Pursuant to payment of dividend, the NAV of the scheme would fall to the extent of payout and statutory levy.

The record date for the dividend is 2 March 2012 and any purchases on or before this date will be eligible for the dividend. Under the dividend reinvestment plan, the dividend declared will be reinvested in the fund at the NAV of 5 March 2012 and unit holders will be allotted additional units for the dividend amount.

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SKS Microfinance gets sanction for assignment of rated pool of Rs354 crore

SKS has already drawn down the first tranche of Rs78.7 crore comprising receivables from micro women borrowers from the weaker sections

SKS Microfinance, the country's only listed micro lender, today said it has securitised Rs354 crore of receivables from 18 states, except Andhra Pradesh. The securitisation was done by a major public sector bank, SKS said in a statement, without naming the lender. Under the pool securitisation, bundling micro loans made to borrowers like micro-entrepreneurs are sold to investors such as banks to raise funds.

The microfinance company has already drawn down the first tranche of Rs78.7 crore comprising receivables from micro women borrowers from the weaker sections, as defined by the Reserve Bank of India, the statement said.

"This is the largest rated pool assignment transaction in the Indian microfinance history," the company claimed.

The pool is well diversified with the average loan amount being Rs10,717. The pool is rated as CARE A1+(SO) (Highest Safety) by CARE, it said. Instruments with a CARE A1+ (SO) rating are considered to have a strong capacity for timely payment of short-term debt obligations and carry the lowest credit risk, SKS said.

Commenting on the transaction, S Dilli Raj, chief financial officer, SKS Microfinance Limited, said, rated pool assignment is an excellent instrument of confluence which achieves the amalgamation of the funding capabilities of the banking system and the credit delivery skills of microfinance companies.

"This sort of confluence may well be the real answer for financial inclusion. Our ability to consummate the largest rated pool assignment in the Indian microfinance history clearly demonstrates that funding concerns raised post the AP MFI Act are behind SKS Microfinance," Dilli Raj said.

Earlier this month, SKS completed another securitisation for Rs243 crore. The present transaction is SKS Microfinance Limited’s eighth assignment or securitisation transaction post the AP MFI Act. All the rated papers of SKS Microfinance have shown robust collection efficiency of more than 98%. Credit enhancement has not been utilised in any of these transactions, SKS claimed in the statement.

In the early afternoon, SKS Microfinance was trading at around Rs124.70 per share on the Bombay Stock Exchange, 2.81% down from the previous close.

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5 years ago

Nice. I like this post its very informative thanks for share it. Microfinance is usually understood to entail the provision of financial services to micro-entrepreneurs and small businesses, which lack access to banking and related services due to the high transaction costs associated with serving these client categories. The two main mechanisms for the delivery of financial services to such clients are relationship-based banking for individual entrepreneurs and small businesses; and group-based models, where several entrepreneurs come together to apply for loans and other services as a group.

Godrej & Boyce’s unit sees 30% revenue in 3 years

Design HQ will be launched in the existing Godrej Interio’s exclusive stores in Mumbai in the first quarter of the next fiscal, and then expanded to other metro cities

Furniture major Godrej Interio said it is expecting up to 30% of its revenue to come from Design HQ three years hence.

“We expect Design HQ to contribute 20-30% of the overall revenue in three years.... Design HQ will have workshops involving in-house as well as leading industry designers to develop new contemporary designs,” Godrej Interio COO Anil Mathur told PTI.

The company is expecting its overall revenue to go up by 25% to about Rs1,500 crore in FY12. “We have set a revenue target of $1 billion by FY17,” he said.

Design HQ will be launched in the existing Godrej Interio’s exclusive stores in Mumbai in the first quarter of the next fiscal, and then expanded to other metro cities. It will also develop customised designs suited to the customer’s individual needs, Mathur said. Godrej Interio has 50 company-owned retail stores and 45 franchisees (both furnishings and kitchenette) in the country.

“We plan to focus on the franchise model and are looking at 200 stores in the next two years,” he said.

Godrej Interio, a business unit of Godrej & Boyce, is eyeing 25% market share in the organised segment in next three years. “On the back of the growing demand for our products, we hope to capture 25% market share of the organised furniture segment in another three years. At present we are enjoying around 20% share,” Mr Mathur said.

The total furniture market in the country is estimated at around Rs40,000 crore, of which only up to 15% is organised, he said.

“We have signed exclusive marketing agreements with Korea’s Sejin for marine accommodation solutions, Japan’s Itoki and the US’ Knoll Inc for office furniture. Recently, we tied-up with Netherlands’ LINET Group for hospital and nursing home furniture and with this, we are now present in almost all the furniture verticals,” Mr Mathur said. All these marketing tie-ups will later be expanded to production agreements, depending on the market scenario, he added.

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