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Relief for MSMEs, Samsung Foldable Phone, RBI Enhances Digital Security, Ola raises $74m et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jan 10, 2019 2:25 PM 3 min read
Editorial

GST Council announces relief for MSMEs. Samsung to unveil foldable phone next month. Ola raises $74m from Steadview Capital.

 

Now to Today's Top Business News Stories in Our End Of Day Wrap Up:

Relief for MSMEs, Samsung Foldable Phone, RBI Enhances Digital Security, Ola raises $74m et al.

 

BANKRUPTCY

IL&FS receives 30 expressions of interest for its domestic road business.
 

The What: As per a report by The Indian Express, debt-ridden IL&FS has received over 30 expressions of interest for its IL&FS Transportation Networks Ltd’s (ITNL) domestic road business which is worth over INR25,000cr.

Up Close: Assets up for sale include seven operating annuity-based road projects, eight operating toll-based road projects, four under-construction road projects, three other EPC and O&M businesses, and a sports complex in Thiruvananthapuram.  Bidders are a mix of strategic and financial players and the sale may be carried out as a basket, individually, or as an undertaking, comprising all assets and businesses put on sale.

Perspective: The bidding is part of a series of asset monetization programmes, which includes sale of its securities business, renewable energy assets, roads portfolio and EPC capabilities, undertaken by IL&FS to pay off its INR91,000cr debt.

 

GST

GST Council announces relief for MSMEs.
 

The What: In the meeting held today, GST Council doubled the exemption limit for GST registration for Micro, Small and Medium Enterprises (MSMEs) to INR40L from INR20L.
 

Also this: The Council also raised threshold limit for eligibility under the GST Composition Scheme to INR1.5cr from INR1cr.

 

TECH

Samsung to unveil foldable phone in its 10th anniversary event in February.

 
Foldable Phone: As per a WSJ article, Samsung plans to unveil its 10th anniversary flagship phone lineup and a fully functional foldable-screen handset at events in San Francisco and London next month.
 

Up Close: As per the report, the tech giant is preparing a major technical upgrade for its 10th anniversary Galaxy S10 phone lineup, adding bigger screens and more cameras.
 

Foldable phones are the new fad, and China as usual has been the first to display a prototype.  Click here to see Royole’s FlexPai - the world's first foldable phone.

 

STARTUP

Ola raises $74m from Steadview Capital valuing the company at c. $6bn.

The What: In its latest funding round, SoftBank-backed Ola has raised c. $74m from its existing investor HongKong-based hedge fund Steadview Capital.

Up Close: As part of the deal, Ola will allot 245,082 fully and compulsorily convertible, cumulative ‘Series ‘J’ Preference Shares’ having face value of INR10 at a subscription price of INR21,250 to Steadview Capital.

Relief for MSMEs, Samsung Foldable Phone, RBI Enhances Digital Security, Ola raises $74m et al.

MONEY

RBI allows tokenization of debit, credit and prepaid card transactions to enhance the safety of the digital payments ecosystem.


The What: Tokenization of debit, credit and prepaid card transactions will allow the card details to be masked while a transaction is being processed at point of sales, QR codes and other payment modes.

What you need to know: This move could prove to be beneficial for mobile wallets, apps which allow cards to be stored for future transactions, enhancing safety of the digital payments ecosystem.

Also, this: RBI has opened up this mode of transaction only for mobile phone and tablets and not for any other electronic devices.

Planning to invest in debt ETF?: Watch out for some benefits of debt-ETF:

  • Debt-ETF offers exposure to a diverse basket of securities which reduces risk
  • Their expense ratios are much lower than that of actively-managed funds
  • They offer greater price flexibility allowing an investor to buy or sell them any time during the trading hours, unlike usual funds where the net asset value (NAV) is decided only at the end of the day

 

Word of caution: While debt-ETF is an efficient investment instrument, one must be beware of its potential downsides.
 

Last Word: Planning to ramp up your investments this year? Click here to read this article by Moneycontrol which discusses why a global equity portfolio is better than an India-only one.

 

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