Ref: NMW/CS/03/2021 August 31, 2021 National Stock Exchange of India Limited Exchange Plaza, C-1 Block G. Bandra Kurla Complex, Bandra East Mumbai- 400051 Trading Symbol: NEXTMEDIA BSE Limited 25 th Floor, P J Towers Dalal Street Mumbai - 400001 Security Code: 532416 Dear Sirs, Sub: Newspaper advertisement – Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Re: 40 th Annual General Meeting (‘AGM’) of the Company via video-conferencing/ other audio visual means In furtherance to our communication dated 30 th August, 2021, we are enclosing herewith relevant page of “Mint” (English - all editions) and “VrittaManas” (Mumbai edition) newspapers published today i.e. on 31 st August, 2021, giving details, inter alia, about the: 1. completion of dispatch of Annual Report for FY-21 and notice convening the 40 th AGM of the Company to be held on Thursday, 23 rd September, 2021 through VC/OAVM; and 2. other relevant information as required to be given to members in terms of Companies Act, 2013 and SEBI LODR including circular(s) issued by MCA and SEBI. This is for your information and records. Thanking you, Yours faithfully, For Next Mediaworks Limited (Diksha Singh) Company Secretary Encl.: As above [email protected]
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Ref: NMW/CS/03/2021 August 31, 2021
National Stock Exchange of India Limited
Exchange Plaza, C-1
Block G. Bandra Kurla Complex, Bandra East
Mumbai- 400051
Trading Symbol: NEXTMEDIA
BSE Limited
25th
Floor, P J Towers
Dalal Street
Mumbai - 400001
Security Code: 532416
Dear Sirs,
Sub: Newspaper advertisement – Regulation 47 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015
Re: 40th
Annual General Meeting (‘AGM’) of the Company via video-conferencing/
other audio visual means
In furtherance to our communication dated 30th
August, 2021, we are enclosing herewith
relevant page of “Mint” (English - all editions) and “VrittaManas” (Mumbai edition)
newspapers published today i.e. on 31st August, 2021, giving details, inter alia, about the:
1. completion of dispatch of Annual Report for FY-21 and notice convening the 40th
AGM
of the Company to be held on Thursday, 23rd
September, 2021 through VC/OAVM; and
2. other relevant information as required to be given to members in terms of
Companies Act, 2013 and SEBI LODR including circular(s) issued by MCA and SEBI.
its limited partners (LPs), hesaid. He did not reveal infor-mation about the LPs. Thenew fund was expected to tapinto Indian family offices andinstitutional investors.
The first fund has so farinvested in road freightexpress logistics businessSpoton Logistics, full-flightsimulator training companyFlight Simulation TechniqueCentre, casual dining chain
X ponentia Capital,floated by Ajay Relanof CX Partners and two
other private equity industryveterans, has marked the finalclose of its first fund at ₹400crore.
The final close of the fundwas made earlier this year,said P.R. Srinivasan, Xponen-tia Capital’s designated part-ner.
Xponentia Capital had notofficially disclosed its targetcorpus, people familiar withthe development had toldVCCircle in 2018 that the pri-vate equity firm had plannedto raise more than ₹1,000crore.
The private equity firmcould not raise more capitalbecause of covid-19, Sriniv-asan said. The size of its firstfund could go up to ₹500crore, with co-investment by
Barbeque Nation, and mort-gage tech startup Easy.
Earlier this month, Xpo-nentia also marked its firstexit from Spoton with morethan 3.5x returns followingthe acquisition of the logisticscompany by SoftBank backedDelhivery for $235 million.
Xponentia has deployed65% of the firstfund so far, Srin-ivasan said. Theprivate equityfirm plans tomake one moreinvestment fromthe fund afterwhich it will startcontemplatingthe launch of anew fund. The new invest-ment from the fund isexpected to be in a companyengaged in the consumerspace with an e-commerceangle. The deal is likely to becompleted in 40-50 days, hesaid.
Xponentia was founded in
2018 by Relan, Srinivasan,and Devinjit Singh.
Relan had co-founded CXPartners in 2009. He hadhung up his boots in Decem-ber 2015 and handed over thereins of the private equityfirm to co-founder JayantaBasu.
Srinivasan was a managingdirector at Citi-group VentureCapital Interna-tional and quit in2010 to raise a$100 millionf u n d u n d e rExponentia Cap-ital. However,E x p o n e n t i ad i d n ’ t m a k e
much headway. Singh had quit Carlyle
Group in 2018 after a decadeat the buyout firm. He hadbeen involved with invest-ments in Housing Develop-ment Finance Corp, IndiaInfoline, PNB HousingFinance, and SBI Cards.
and interests in financial assist-ances in favour of ACRE overthe last two years. Bank ofMaharashtra informed Jayas-wal Neco that it had assignedthe debt of the company toACRE in April.
“The debt exposure ofUnited Bank of India, Bank ofMaharashtra, and ICICI Bankwere pending and has nowbeen acquired after a gap oftwo-and-a-half years. Thedelay in debt aggregation hasincreased costs and the anxietyof the investors,” said one of thepersons mentioned above.
Bank of America will payACRE a commission to facili-tate the deal as Reserve Bank ofIndia (RBI) regulations allowonly ARCs and domestic finan-cial institutions to buy loans ordebt from banks.
Jayaswal Neco turned into astressed asset after a decline inthe demand for its products ledto the company defaulting ondebt repayments.
G lobal asset managersBank of America,Davidson Kempner
Capital Management, OaktreeCapital, and Ares SSG have ledthe investment to acquire 100%debt of beleaguered JayaswalNeco Industries Ltd, more thantwo years after the initial agree-ment was signed, two peopleaware of the development said.
The deal was first signed inearly 2019 when the group ofinvestors led by Bank of Amer-ica agreed to pay around₹3,300 crore (around $476 mil-lion) to acquire 88% of theChennai-based debt riddenfirm. It was one of the biggesttransactions undertaken by theAmerican lender then.
The deal was approved bythe Competition Commissionof India last week.
Lenders will recover around
Five firms acquire debt of Jayaswal Neco
The firms acquired 100% debt of Jayaswal Neco more than two years after the initial agreement was signed. HT
Clix Capital shifts business strategy in pandemic’s wake The NBFC’s leadership says the new model caters to more granular, digital-focused sectors
Pramod Bhasin, chairman, Clix Capital, said the firm plans to raise ₹2,000 crore or more in debt capital.
I ndegene, a technology-ena-bled healthcare solutionsprovider, has acquired
US-based Medical MarketingEconomics LLC (MME), ahealthcare market access andpricing strategy firm. Theacquisition, made for about $10million (nearly ₹73 crore), isaimed at bolstering Indegene’semerging biotech and medicalofferings.
This is the Bengaluru-basedcompany’s first acquisitionafter it raised $200 millionfrom US-based investmentfirms Carlyle Group and Brigh-ton Park Capital earlier thisyear. The money was raised toboost acquisitions and driveglobal expansion.
“Our growth momentum isstrong and acquisitions willcontinue to be a priority for us,”Manish Gupta, co-founder andchief executive officer, Inde-gene, said in an interview.
Acquisitions have alwaysbeen a key part of Indegene’sgrowth strategy. The companymade seven strategic globalacquisitions between 2012 and2019. It last acquired UK-basedDT Associates, a digital trans-formation and customer expe-rience consulting firm, in 2019.
Post the funding, Indegenehad said it will continue tomake strategic acquisitions tobuild deep domain expertiseand differentiated technologyto accelerate growth.
As part of its expansionplans, Indegene is alsoexpected to hire up to 2,500people this fiscal year acrossoffices, out of which about2,000 will be based in India,200 in North America, 100 inJapan and China, and theremaining in Europe.
C lix Capital, a non-bankingfinancial company (NBFC)backed by private equity(PE) firm AION Capital, haspivoted to a leaner business
model, catering to more granular anddigital-focused sectors, following theadverse effects of the second wave of thecovid-19 pandemic.
With a focus on digital platform-based business segments in micro,small, and medium enterprises, health-care, education, and personal loan seg-ments, the non-bank lender plans toraise another ₹2,000 crore or more indebt capital, Pramod Bhasin, chairman,Clix Capital, said in an interview.
The funds will be raised from banksand financial institutions such as Nabardand Sidbi. “We could raise more if wecan at a good cost…If we find some goodvaluations coming along the way we willraise equity. Right now, the focus isdebt,” said Anil Chawla, founder, ClixCapital. The NBFC also went through aphase of management restructuringover the past year.
Bhasin and Chawla confirmed theshift in strategy after collections andloan repayments dropped considerablysince March. “The second wave cre-ated a different beast... Everybodywas caught by surprise. Thatimpacted the collection a lot, whichwill take some time to get back. Thispandemic has made us think aboutour business model,” Chawla said.
A liquidity crunch since mid-2018 and the pandemic led to sev-eral challenges for Clix Capital. In FY21,its assets under management declinedto ₹4,250 crore from ₹4,600 crore a yearago.
“The change was primarily driven bythe nationwide lockdown and low dis-bursal in the first half of FY21. However,
the retail portfolio’s contribution to ouroverall mix increased from 73% to 82%in FY21, which is in line with our goal ofbecoming a digital-retail NBFC,” Bhasinsaid. In retail, technology-based businesses comprise60-70% of the book, he said.
Clix’s gross non-performingassets (GNPAs) worsened from 1.2% inFY21 to 3.4% in FY22 (April to July) pri-marily because of covid-19. However,the company is compensating it with aprovision coverage of around 50% of
GNPAs. The September estimates forNPAs will be less than 5% and will becomfortable, Chawla said.
The worst is over, said Bhasin. “Wewon’t see any further stress in our books.I’m more worried about the generaleconomy, kirana stores and small busi-
nesses in our country, which are in theunorganized and informal market,” hesaid. Clix plans to reduce its corporatebook to 7-8% by next year from the exist-
ing 14% of its total book.Last year, the Gurugram-
based non-bank lender alsounderwent at least three top-
management changes, including theresignation of its chief executive officer,within a span of a few months. “Theoverall employees are at around 371,lower by about 30% from last year,”
Chawla said. Clix Capital had lost the race to Singa-
pore’s DBS group in acquiring Chennai-based Lakshmi Vilas Bank after submit-ting a non-binding bid.
The Clix group comprises threeNBFCs, Clix Capital Services and Clix
Finance India and mortgage lender ClixHousing Finance. Clix Capital Services,formerly GE Money Financial ServicesPvt. Ltd, was set up in 2017 by the GEGroup as a consumer finance, auto leas-ing, corporate lending, and healthcareequipment financing platform.
Plutus Financials Pvt. Ltd, a joint ven-ture between AION India InvestmentAdvisors Pvt. Ltd and Bhasin, founder ofGenpact, and Chawla, former head ofGE India, had acquired the Americanconglomerate’s Indian commercialfinance business, GE Capital ServicesIndia and GE Money Financial Services,from GE for $327.74 million (₹2,257crore), according to data intelligenceplatform VCCEdge.
AION Capital, the joint venturebetween New York-based Apollo GlobalManagement and ICICI Venture, wasdissolved last year. Clix is now directlymanaged by Apollo. ICICI Venture is aninvestor in the AION fund, but is notinvolved in day-to-day operations. In2019, AION Capital invested about $40million in fresh financing in Clix Capital,which was part of the wholesale creditopportunity market.
“Clix has been a fascinating story. Webought Clix from GE Capital when it wasvery small, had less than 50 people andless than ₹700 crore of assets. It was abusiness in run off and along with our
partners Bhasin and Chawla, wecompletely changed the business.At the time of acquisition, it wasmore wholesale oriented. Now 80%of business is retail. Though the lastfew years have been difficult for thesector… there is no alarm as Clix iswell capitalised and under-lever-aged. NPAs are still sub 4% and in
control,” Utsav Baijal, Apollo India’s pri-vate equity head, said in a recent interac-tion with VCCircle.
Clix Capital seeks to focus on selectgrowth sectors and partner with banksto adopt a fee-based model to double itsgrowth in the coming year.
CHANGE OF TACKFOUNDER of Clix Capital Anil Chawla said the pandemic made the firm think of its business model
LIQUIDITY crunch since mid-2018 and the pandemic led to challenges for firm in FY21
CLIX’S gross NPAs worsened from 1.2% in FY21 to 3.4% in FY22 (April-July) because ofcovid-19
THE firm plans to reduce its corporate book to 7-8% by the next year from existing 14% of book
tree Capital will invest analmost equal share in the deal.
Assets Care and Reconstruc-tion Enterprise Lim-ited (ACRE), the assetreconstruction com-pany (ARC) backedby Ares SSG and Axis
Bank, will hold the debt on itsbooks after banks holding94.23% of total principal debt,assigned all their rights, title
70-75% of the dues, one of thepersons cited above said, ask-ing to remain anonymous. Thetotal debt of JayaswalNeco, which manu-factures cast ironpipes, is more than₹4,800 crore.
While the exact share of indi-vidual debt by each investor isnot known, Davidson KempnerCapital Management and Oak-
Sports brand Elevar raises ₹19 crore in Series A funding led by KalaariSports brand Elevar on Monday said that it has raised ₹19 crore asa part of its Series A round of funding led by venture capital firmKalaari Capital. Dream Capital, the venture capital arm of gamingunicorn Dream Sports has also participated as a part of this round.Elevar is expected to utilize the funds towards expanding its prod-uct portfolio, increasing its marketing efforts, and building out itsteam.Three-year-old, Elevar is a direct-to-consumer (D2C) sportsbrand that currently has two core product categories—athletic per-formance footwear and cricket bats. According to Elevar, India’ssports footwear market is worth $3.5 billion and is growing 15-20%annually. STAFF WRITER
Jhunjunwala’s Rare Enterprises to invest in Syska LED Lights
Mumbai: Rakesh Jhunjunwala’s Rare Enterprises and itspartners have signed a term sheet to invest in Syska LEDLights Pvt. Ltd, promoted by the Uttamchandani family. Inaccordance with the terms of the signed term sheet, about15% of the funds have been deployed already. It is expectedthat the transaction should conclude in the next 60 days.Financial details of the proposed transaction, however, werenot disclosed. “We are encouraged with the business and thebrand that Syska has built so far —we view this as a long termpartnership with the Promoter family to take Syska into itsnext phase of growth and leadership,” said RakeshJhunjhunwala, partner at Rare Enterprises. “We are confi-dent that this will be a long and fruitful association,” saidGovind Uttamchandani, director, Syska Group.
SWARAJ SINGH DHANJAL
KKR offloads additional shares in Café Coffee Day Private equity giant KKR & Co. sold a tranche of its shares in CoffeeDay Enterprises Ltd on Monday, continuing with its exit strategyfrom the coffee retailer. KKR sold an additional 2.45 million sharesat ₹25.47 apiece for gross proceeds of a little over ₹6.24 crore inCafé Coffee Day operator on Monday. This is the second chunk ofshares it has liquidated from the coffee chain this month. On 20August, it sold over 1.9 million shares for gross proceeds of about₹5.6 crore. In less than a fortnight, KKR’s part-exit share price hasdeclined by over 15%. It still owns close to 8.473 million shares, rep-resenting about 4% stake in the company. ANKIT AGARWAL
MINT
CIN: L22100MH1981PLC024052Registered Office: Unit 701A, 7th Floor, Tower-2,Indiabulls Finance Centre, Senapati Bapat Marg,
NOTICE OF THE 40TH ANNUAL GENERAL MEETING OFNEXT MEDIAWORKS LIMITED
In furtherance to our notice published in the newspapers viz. Mint (All editions)and VrittaManas (Mumbai edition) on August 24, 2021 regarding the 40th AnnualGeneral Meeting (‘AGM’) of Next Mediaworks Limited (“Company’ or ‘NMW’)to be held on Thursday, September 23, 2021 at 11:00 AM (IST) throughVideo Conferencing (‘VC’)/Other Audio Visual Means (‘OAVM’), members ofNMW are hereby informed that electronic copy of the Notice convening theAGM, procedure & instructions for e-voting (remote e-voting and e-voting atthe AGM i.e. InstaPoll) and the Annual Report for FY-21 have been sent onAugust 30, 2021 to those Members whose email ID are registered with theCompany/Depository Participants (‘DP’). Members may download aforesaiddocuments from the website of the Company viz. www.nextmediaworks.com;Registrar and Share Transfer Agent (‘RTA’) i.e. KFin Technologies Private Limited(‘KFin’) viz. https://evoting.kfintech.com/public/Downloads.aspx; and the stockexchanges viz. www.bseindia.com and www.nseindia.com.The detailed procedure for attending AGM, voting (remote e-voting and InstaPoll)etc. is set out in the notice of AGM, on the following lines:–1. The Company is providing facility to its Members to exercise their right to
vote on the business set forth in the Notice of AGM through remote e-votingand InstaPoll. Procedure for e-voting and attending the AGM for membersare provided in notice of AGM. KFin has been engaged by the Company forproviding VC/OAVM platform and e-voting facility.
2. Members of the Company holding shares in physical or demat form, asthe case may be, as on the Cut-off date i.e. September 16, 2021 only, areentitled for e-voting and to attend the AGM.
3. Remote e-voting facility shall commence at 9:00 AM (server time) onSunday, September 19, 2021 till 5:00 PM (server time) Wednesday,September 22, 2021. Thereafter, the remote e-voting facility will be disabled.
4. Members who have exercised their right to vote through remote e-voting mayattend the AGM, but shall not be allowed to cast their vote again thereat. If amember casts votes by both remote e-voting and InstaPoll, then voting donethrough remote e-voting shall prevail.
5. In case a person has become a Member of the Company after dispatch ofthe Notice but on or before the Cut-off date i.e. September 16, 2021, or hasregistered the e-mail address after dispatch of the Notice, such Member mayobtain the User ID and Password in the manner outlined in the Notice ofAGM.
6. Members who have not registered their e-mail address, are requested toregister the same, in respect of shares held in demat form with their DepositoryParticipant(s), and in respect of shares held in physical form by clicking onhttps://ris.kfintech.com/clientservices/mobilereg/mobileemailreg.aspx.or by writing to KFin with details of folio number and self-attested copyof PAN card at KFin Technologies Private Limited, Unit: Next MediaworksLimited, Selenium Tower B, Plot No. 31-32, Gachibowli, Financial District,Nanakramguda Serilingampally Mandal, Hyderabad-500 032 or by sendingemail to [email protected]. Members holding shares in demat formcan also use the aforesaid link to register their e-mail address for the limitedpurpose of receiving the Notice of 40th AGM and Annual Report for FY-21.
7. E-voting process pursuant to SEBI’s circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 9, 2020, have been provided in detail in theNotice of AGM.
8. In case of any query/grievance, in respect of e-voting, members may refer tothe Help & FAQs section/E-voting user manual available at the “Downloads”section at https://evoting.kfintech.com/public/Downloads.aspx or maycontact to Mr. Rajkumar Kale, Asst. General Manager, KFin TechnologiesPrivate Limited, Unit: Next Mediaworks Limited, Selenium Tower B, Plot31-32, Gachibowli, Financial District, Nanakramguda, SerilingampallyMandal, Hyderabad-500032 or contact at toll-free no.: 1800-309-4001 oremail at [email protected]. For any technical assistance for participatingin AGM via VC/OAVM, members may contact KFin at 1800-309-4001.
For Next Mediaworks Limited
(Diksha Singh)Date: August 30, 2021 Company Secretary
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