Indian Terrain Fashions Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 23, 2015, considered and approved the following:
1. Sub-division of 1 (one) Equity shares of face value of Rs. 10/- each into 5 (five) Equity shares of Rs. 2/- each and consequently, to alter the capital clause of the Memorandum of Association and Articles of Association of the Company. – (Good move to bring liquidity in market, currently hardly 500-600 shares are being traded daily)
2. Alteration of Articles of Association in compliance with Companies Act, 2013.
3. Approved the Related Party Transaction on purchase of property from M/s. Celebrity Fashions Limited, related party.(Not a good move, contrary decision to asset lite model, will reduce ROCE and ROE)
4. All the above items 1, 2, 3 are subject to the approval of shareholders through a Postal Ballot & E-Voting, under applicable laws & regulatory frame work.

Feedback sought from senior boarders.

Disclosure – Invested from 600 level.

100% agree with you
malli

disc not invested

http://www.livemint.com/Companies/dLNBmSeNsOrnYgTmk8lcRJ/Satin-Creditcare-looks-to-raise-funds.html

Seems there is good demand for quality MFI in the investor community due to huge opp size ,v little NPAs inspite of lending without collateral and quality professionally qualified management a CA Mr HP Singh in case.The recent run up has also been v sharp

Few extracts from above new item

“We have shared our mandate with one fresh venture capital investor and
one existing investor. A larger portion of the equity is likely to come
from fresh investors by February next year. Also, the tier II capital
will be in place by December this year,” said Vivek Tiwari, chief
operating officer, Satin Creditcare.

Existing investors in the company include Danish Microfinance Partners,
Microvest Capital Management, SBI Ven Capital and Shorecap. In 2013, Lok
Capital had sold its stake in Satin Creditcare.

The company has raised Rs.1,500 crore debt this fiscal year and in the next six months, would bring in Rs.2,300 crore through various banks. “The fresh funds would help us tap a 70%
growth in business and cross Rs 5,000 crore gross loan portfolio by next
year,” Tiwari said.

After the Reserve Bank of India granted small finance bank licences
to eight MFIs, the industry hopes the funding scenario would improve,
not just through banks but also the debt markets.
“The sector looks very promising now and is over the hump with strong
reinforcement and governance abilities. It’s not that investors are
suddenly chasing nor are they pulling out. From an equity point of view,
there seem to be more of private equity investor interests than venture
capitalists,” said Kshama Fernandes, chief executive of IFMR Capital,
which acts as structurer, arranger and investor for companies that lend
to the financially excluded.

But why the leader of pack SKS Microfinance falling like a brick inspite of giving stellar results ?

How come the NPAs are so less inspite of lending without collateral?Views invited.

Discl- As disclosed earlier recently invested @ 223

Eros Tanks as Wells Fargo Analyst Questions Company Metrics
Alex Sherman
October 24, 2015 — 3:33 AM SGT Updated on October 24, 2015 — 4:44 AM SGT
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Shares have retreated more than 54 percent since Oct. 12
Twitter user claims United Arab Emirates sales are fraudulent
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Eros International Plc fell for a fifth straight day after analysts at Wells Fargo & Co. said they weren’t satisfied by answers the Bollywood film producer and distributor gave investors on a call held Friday to combat accusations of fraud posted on Twitter.
Eros slid 17 percent to $14.65 at the close in New York, bringing its loss for the week to 45 percent. Wells Fargo analyst Eric Katz cut his rating on the shares to market perform, saying he wasn’t comfortable with explanations about the company’s growing business in the United Arab Emirates. Eros, based in Secaucus, New Jersey, distributes Indian-made films.
“We still don’t know the largest content buyers driving this increase, and we aren’t fully comfortable with the fact nearly half of the revenue originates outside of India,” Katz wrote in a note.
Eros management spoke with analysts on Friday in an attempt to assuage fears that a spike in revenue booked in the UAE was fraudulent. A Twitter user called Market Farce, whose profile reads, “Focused on uncovering farcical, fraudulent and dishonest financial market activity,” has claimed UAE sales aren’t legitimate and has questioned the company’s ErosNow registered users.

Eros wouldn’t disclose the counterparties driving the UAE sales, citing contract confidentiality.
“We are not going to comment on an unknown person who hides behind an alias on social media to make ridiculous and outrageous accusations,” said Whit Clay, an outside spokesman for Eros.
The stock has been sinking since mid-October, when Market Farce, who declined to reveal his identity when reached by Bloomberg, began Tweeting about Eros.
Eros reported fiscal 2015 UAE revenue of $103.8 million, up from $45.6 million in 2014 and $14.5 million in 2013. The sales are based on a customer’s domiciled location, according to a company filing. Market Farce claimed on Twitter the company boosted UAE sales in quarters when “their movies don’t work.” Eros produces, acquires and distributes Indian language films and has a market capitalization of $843 million.
The company has 30.5 million registered users for Eros Now, its Netflix Inc.-like product that streams Bollywood movies and music, according to a person familiar with the matter. The company hasn’t disclosed how may of these users pay for the service or how many are monthly active users.
“We’re still feeling uncertain about the ErosNow user count,” Katz wrote. “Public websites that track app downloads (i.e. App Annie) show relatively low rankings for ErosNow vs. other Indian streaming services with lower user counts. We can’t reconcile the disparity and it’s a red flag for investors.”
Wells Fargo dropped its price target on Eros to between $20 and $22 per share from $48 to $50. Shares have fallen more than 54 percent since Oct. 12.
Analyst Tim Nollen at Macquarie Research said the shares were oversold for “no good reason.” In a note, Nollen said he spoke with Eros executives “who say nothing has changed and nothing is amiss.”
The company has been in talks with Singapore-based Fullerton Fund Management Co. on a deal that would value Eros Now at as much as $800 million, people familiar with the matter said in July. Those talks are still ongoing and a deal could be announced this month, one of the people said.