Vaibhav Jain, CFA, CMT

Deal Announcement – Complete transaction in Less than 3 months! Maiz Kitchens, a first of its kind modern QSR chain that believes in serving fresher, healthier fast food at an affordable price, successfully closed its Series A fundraise. Founded by Veer Bharatiya, Maiz is poised to replicate the Chipotle story in India! Radix acted as the Exclusive banker for this transaction which was closed in less than 3 months’ timeframe! What does Maiz’s super quick Series A turnaround tell us? In one line, despite how the larger macro environment, whether it's the Funding winter or the preceding Unicorn race, Investors fundamentally are always looking to unearth those Diamonds in the rough. Startups with strong fundamentals, visionary leaders, proven execution capability and large TAMs don’t have to rely solely on burning investor money for growth. These companies are always poised to leverage their customer love and execution strength to get the likeminded and right investment partners for targeting next big milestone. Maiz is one such diamond! 4 things that worked in favour of Maiz: o  A great team with clear vision and phenomenal execution capability. o  A solid plan executed to last decimal point details. o  Abundance of customer love which is visible in stellar Unit Economics. o  Super nimble approach of management with clear focus on Capital Efficiency Maiz is both a testament and validation of the Radix way! At Radix, we pride ourselves in being able to spot these gems. We are always long-term partners with the founding team and do our part in materializing their vision. Today, Radix Capital Advisors takes immense pleasure in announcing the successful closure of INR 21.5 Cr Series A fundraise for Maiz Kitchens. All the best to Maiz team! Brace yourself for the next Maiz outlet in your city! Congratulations Veer Bhartiya Rahul Chhabria, Pratiksha Barasia Maya Taparia Ashish Chacko Akash Bagul Mahesh Triplicane Damodaran Vignesh Ramanan Maiz Kitchens Radix Capital Advisors Yash Vora   Keep Spicing Up and Scaling New Heights – Onwards & Upwards ! #startups #SeriesA #Fundraise #DealAlert #consumer

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Smart riders adapt to the turns. DSP BUSINESS CYCLE FUND – New Fund Offer @ Rs. 10/- available till 11th Dec 2024. (An open ended equity scheme following business cycles based investing theme ) Benefits : * Framework-driven selection of industries & companies with high growth /turnaround potential * Does not shy away from taking cash calls or using other risk management strategies * Recommended holding period of 5+ years  * Flexibility that allows for aggressive allocation of significant weights to industries in an upcycle * Suitable for all market phases given its unconstrained nature Focused on identifying strong industry cycles * Unconstrained by market cap: Can include companies from large, mid, small, and micro caps.  * Sector & Industry evaluation: After grouping the investment universe into broader sectors, the evaluation is done at industry level. * Industry Preference: Prefers industries near the bottom of the cycle with the potential for improving or strong fundamentals but trading at low valuations compared to benchmark and on an absolute basis. * Forensic evaluation: Exclude companies with weak corporate governance with the help of dedicated forensic analysts even if they have strong growth expectations * Stock Selection: Identifying stocks from industries which have high growth potential, improving fundamentals & higher potential upside. Such stocks shall be given higher weights N J Fin Plan recommends to invest- Insure, based on your financial goals & risk appetite. N J Fin Plan can offer Mutual Fund Investments, Life, Health, Motor & Travel Insurance Online. To open E-wealth account with N J Fin Plan http://p.njw.bz/55096 Call / Write  N J Financial Planning Off No.15, Kappeesh Mall, Near Mulund Railway Station, M G Road, Mulund West, Mumbai 400 080 +98924 22480 / [email protected] www.njfinplan.com #financialplanning #wealthcreation #mumbai #sip #india #swp #mutualfunds

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Glad to share our 2nd quarterly update. In this letter, we delve into the current market dynamics, likening it to a game of throwing darts blindfolded—where luck can often be mistaken for skill. This environment reinforces the need to remain disciplined in identifying fundamentally strong businesses. We discuss one such business in detail. Medi Assist, a standout in the TPA industry, embodies the traits we value, including longevity, resilience, and leadership. Do let us know your thoughts! You can subscribe to our updates at https://lnkd.in/dD9fEx9x If you wish to explore investing with us, please reach out to us here or at [email protected] Akshay Jogani Xponent Tribe

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📈𝗢𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗿𝗲𝗮𝘀𝗼𝗻 𝗯𝗲𝗵𝗶𝗻𝗱 𝗜𝗻𝗱𝗶𝗮𝗻 𝗦𝘁𝗼𝗰𝗸 𝗠𝗮𝗿𝗸𝗲𝘁 𝗵𝗮𝘃𝗶𝗻𝗴 𝗯𝗲𝗮𝗿𝗶𝘀𝗵 𝘁𝗿𝗲𝗻𝗱𝘀- Rs 1 lakh Crore Selling Pressure, In just 18 consecutive trading session, FIIs net sold whopping Rs -1,03,051 crore equity in the market. Never Happened Before ! • In last two days of September, FIIs net sold Rs -11,001 crore equities and now in October, FIIs non stop selling till date is Rs 92,050 crore and there are 6 more trading sessions left in this month. Total sellout Rs -1,03,051 crore. 𝗙𝗜𝗜𝘀 𝗡𝗼𝗻-𝗦𝘁𝗼𝗽 𝗦𝗲𝗹𝗹𝗶𝗻𝗴 • Sept 27: Rs -1209 crore • ⁠Sept 30: Rs -9792 crore • Oct 01: Rs -5579 crore • ⁠Oct 03: Rs -15,243 crore • ⁠Oct 04: Rs -9897 crore • ⁠Oct 07: Rs -8293 crore • ⁠Oct 08: Rs -5730 crore • ⁠Oct 09: Rs -4562 crore • Oct 10: Rs -4927 crore • ⁠Oct 11: Rs -4162 crore • ⁠Oct 14: Rs -3732 crore • ⁠Oct 15: Rs -1748 crore • ⁠Oct 16: Rs -3435 crore • ⁠Oct 17: Rs -7421 crore • ⁠Oct 18: Rs -5486 crore • ⁠Oct 21: Rs -2262 crore • ⁠Oct 22: Rs -3978 crore • ⁠Oct 23: Rs -5685 crore So far net sell Total : Rs -1,03,051 crore. 𝗡𝗼𝘁𝗲- 𝗜𝗻 𝗹𝗼𝗻𝗴 𝘁𝗲𝗿𝗺 𝗜𝗻𝗱𝗶𝗮 𝗺𝗮𝗿𝗸𝗲𝘁 𝗵𝗮𝘀 𝗯𝘂𝗹𝗹𝗶𝘀𝗵 𝘁𝗿𝗲𝗻𝗱𝘀 𝘄𝗵𝗶𝗰𝗵 𝗶𝘀 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝗱𝗮𝘁𝗮. 𝗖𝗼𝗻𝘁𝗮𝗻𝘁 𝗰𝗿𝗲𝗱𝗶𝘁 - Trendlyne.com and NSE India 𝗜𝗺𝗮𝗴𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 - Zerodha

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Mutual Fund (MF) is the most common investment product for Indian investors. Be it retail or HNI investors, wealth managers, investment product distributors, research analysts or fund managers, all have a keen interest in this instrument. We are starting a MF performance report series to give you insight on performances for each MF category. You get to understand distribution of returns - highest, lowest, average, median returns of mutual funds across categories and time periods. See where your investment stands compared to the entire pool. See which categories were able to beat the benchmark.  Key highlights of the April 2024 issue of the MF Monthly Report: 🖋All funds in broad categories (Large, Mid, Small, LargeMid, Multi, Focussed, Flexi) have delivered healthy returns over longer period  🖋Most funds in broad categories (except MultiCap) have underperformed their respective benchmark in both short and long term 🖋Value & contra funds outperformed benchmarks by significant margin across most periods 🖋BFSI & IT sectoral funds found it easier to outperform benchmark. However, sectoral funds saw higher volatility even in longer periods  Hope you find it valuable. Any suggestions? Please let know in comments. #MutualFunds #InvestmentAnalysis #FinancialInsights

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Swiggy’s IPO: A New Era or Over-Hyped Gamble? Swiggy’s IPO surprised the market, listing at a premium and trading 20% higher than its issue price. With its valuation now crossing ₹1 lakh crore, comparisons to Zomato are inevitable. Here’s the lay of the land: Zomato’s Edge: ₹700 crore profit, 54% gross order value growth, 20.3 million monthly transacting users. Swiggy’s Challenge: ₹2,300 crore loss, 6% higher gross order value but lower user base. Both companies are investing heavily in quick-commerce, where Blinkit and Instamart are seeing rapid adoption. Yet, Swiggy’s profitability timeline (FY28) leaves investors questioning its ability to match Zomato’s success. Is Swiggy a dark horse, or is the risk too high for long-term investors? Valuation is one thing, but profitability is the real game-changer. What’s your take—would you invest in Swiggy at this stage?

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From Likes to Liability: SEBI's Fight Against Unregulated Financial Advice Picture this: You’re scrolling through social media, and there it is—another post from a charismatic financial influencer, or "finfluencer," promising you a road to riches with just a few clicks. It all seems so easy, so tempting. But what if I told you that behind that polished video and those confident claims, there’s often no accountability? No regulation? Just risky advice that could cost you dearly. In recent years, finfluencers have flooded digital platforms with advice that ranges from the basic to the downright dangerous. These influencers operate freely and often without any accountability for their advice. The Turning Point: SEBI Steps In Enter SEBI—the Securities and Exchange Board of India. Recognising the risks, SEBI has taken decisive action. In just three months, they’ve worked with tech platforms to remove over 15,000 pieces of unregulated content. This is a major step toward protecting investors and ensuring that financial advice is grounded in responsibility and regulation. Why This Matters Finfluencers have been operating in a grey area, sometimes leading investors into significant losses. SEBI’s crackdown is not just about removing content; it’s about creating a safer environment where investor education and protection are paramount. Looking Forward SEBI is also looking to relax some restrictions on RIAs and RAs to bring more qualified professionals into the market. By reducing barriers and clarifying grey areas, SEBI aims to enhance the credibility and quality of financial advice available to investors. The Bottom Line This is a call for all investors to be cautious and check credentials before following financial advice. Let’s support SEBI in its mission to build a safer, more trustworthy financial ecosystem. What are your thoughts on SEBI’s actions? Share your views in the comments below! 👇 #Finance #InvestorProtection #SEBI #FinancialAdvice #Finfluencers #LinkedIn

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The Zudio story and the insane numbers! 🤯🚀 The Tata-owned brand from the house of Trent is growing at an insane pace, almost doubling its YoY revenue and significant increase in its key metrics. ✨ Revenue at Rs 6,744 Cr increasing by 90% YoY and beating its own co-brand Westside which is at Rs 5,115 Crs. 🏆 Number of stores going to 545 in FY24 from 325 in FY23. 📈 Revenue per sq ft doubled to Rs 18,537 in FY24 from Rs 9,261 in FY22 and estimated to reach Rs 20,000 by FY26. (Rs 18,800 in FY23). 📊 EBITDA per Sq Ft doubling to Rs 1,900 in FY24 from Rs 940. 💰 But what is the reason for this insane growth? Let’s have a close look into the reasoning! 🧐 1] No discounting policy! ❌🏷️ More often than not, when we are purchasing something from a brand or online, we often delay the purchase and wait for the end of season sale or discount months. ⏳ Zudio has a no discount policy, hence pushing the customer to buy then and there rather than wait for discounts. 💳 2] The pricing play and differentiation 💸 Zudio plays in the tricky yet attractive segment of offering fast fashion starting at Rs 99 and going up to around Rs 999. 👗 While other players like V-Mart, Style Bazaar, V2 Retail, City Kart, etc. are also in this price segment, they face immense competition because they target the same audience as Zudio but with low differentiation and a wider range of products. 🤔 Zudio hits the nail at the right gap i.e. low price, wide segment with differentiation! 🎯 3] Where does this differentiation come from? Zudio’s ability to respond to changing trends. 👚 Zudio operates on quarterly planning rather than seasons, resulting in a high number of hits per cycle. 🗓️ Their tech ensures that new styles are hitting stores every week, which leads to refreshing the inventory of the whole store in a span of around a couple of months. 🛒 4] The store sizes! 🏬 The store sizes of Zudio are anywhere around 7,000 sq ft to 10,000 sq ft, allowing it to have more number of stores within a catchment and operate in more cities. 🏪 The vision behind this is that a buyer won’t travel far enough for fast fashion, hence having several stores within a radius of 4-5 km helps the brand. 🚶‍♀️ 5] Not operating online 🚫 While Zudio not having any online presence does hit the revenues, it also saves a lot of cost when it comes to the logistics part of it. 🚚 The cost of not only delivering but returns, refunds, tech, customer support, etc. is a task in itself which might contribute a good chunk to revenue and better inventory management. 📦 But with a price range of Rs 99-999, the cost might make it a bad deal. 🛍️ What do you think about the insane growth story of Zudio? How much have you spent on their stores?💰 Comment down! Source: Financial Express Follow Jay for more insightful content! #zudio #fashion #trent LinkedIn LinkedIn News India LinkedIn Guide to Creating LinkedIn Guide to Networking

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A significant milestone on the Sarvagram journey and we are very excited to continue our support to the stellar team. When we invested in 2022, we saw a distinctive company which was serving an unaddressed segment in a very large market i.e middle class households in rural India. The narrative around rural financing has primarily focused on farmers and low-income populations. However, there's a huge gap in addressing the needs of the aspirational rural middle class—the 80-100 million households with annual incomes ranging from ₹3-5L, spread across multiple income sources. This demographic is eager to improve both their income levels and quality of life, yet their financial needs have often gone unmet. Banks and microfinance institutions have targeted agriculture or low-income women but the rural middle class is a large whitespace. Though they may have access to product financing like two-wheeler or car loans, a significant portion of their aspirations remains unaddressed. SarvaGram is stepping into this gap with a holistic, customer-centric platform that offers a diverse range of financial services—from lending products and farm mechanization solutions to insurance offerings — as opposed to a mono-line strategy, which we believe works better in denser urban markets. In addition to our thesis on rural lending, we have found working with the stellar team, led by Utpal Isser and Sameer Mishra, a collaborative and insightful partnership. Their exceptional execution and understanding of the rural market have enabled SarvaGram to create lasting impact and drive sustainable growth. It has been equally enjoyable to learn from their experiences and we truly appreciate the openness of team. We have also appreciated working with our co-passengers from #Elevar, #Elevation and #Temasek and look forward to the #Peak XV team. With this fundraise, SarvaGram is on track to continue its impressive growth trajectory and we are excited to be part of this journey of SarvaGram driving meaningful change for rural middle-class households. Utpal Isser SarvaGram Sreeraman V TVS Capital Funds #FundingSuccess #RuralIndia

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Some wrong Practices in SIPs by Investors * Stopping SIPs During Market Corrections Many investors panic when markets dip and stop their SIPs, missing out on the benefits of rupee-cost averaging and buying more units at lower prices. Overreacting to market news or personal financial pressures often disrupts the discipline and consistency required for successful SIPs. * Investing Without Clear Goals Investors often start SIPs without a clear financial goal. This lack of direction can lead to early withdrawals or insufficient corpus at maturity. * Choosing SIPs Solely Based on Past Returns Relying only on historical returns without evaluating the fund's consistency, portfolio quality, or market conditions often results in suboptimal investments. * Not Aligning Risk Appetite with Fund Type Investors sometimes invest in high-risk funds without understanding their own risk tolerance, leading to regret and hasty decisions during volatility. * Treating SIP as a Short-Term Tool SIPs are designed for long-term wealth creation, but some investors expect quick returns and withdraw prematurely. * Inconsistent SIP Amounts Starting with a low SIP amount and failing to increase contributions with income growth limits the wealth-building potential. Many investors don’t account for inflation while setting SIP amounts, leading to a future corpus that falls short of their needs. * Not Having Emergency Funds Before SIPs Investors sometimes start SIPs without an emergency fund, leading to withdrawals or SIP discontinuation during financial emergencies. Conclusion Avoiding these common mistakes can ensure that your SIP investments remain a powerful tool for long-term wealth creation. Discipline, periodic reviews, and goal alignment are key to maximizing SIP benefits. Do subscribe to Capstone Wealth for articles related to investment planning ....Happy Investing www.capstonewealth.in

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Just a humble unbiased suggestion: Hindenburgh Research should also disclose it's short selling exposure and incidental gains along with the short selling bets of all its US partner fund houses/clients, along with its research report on any Indian company. Last year in 2023, Hindenburgh when required to reply, has stated that it had made USD 4.1 million gains related to Adani short bets. In some other prominent international media reports, it has been stated that Hindenburgh colluded with its client Kingdon Capital Management by providing a draft of its report on Adani Group before it was released publicly. Kingdon Capital then set up a special fund known as K India Opportunities Fund which created short positions in Adani Group stocks from Jan 10, 2023 to Jan 20, 2023, five days before the Hindenburgh's report on Adani Group was made public. It is pertinent to note that Hindenburgh Research is a small US based research based company of 9 employees. Wikipedia describes it Operations as, "Hindenbergh Research prepares an investigation report on a target company by going through its public records, internal corporate documents. The report is then circulated to Hindenburg's limited partners, who, together with Hindenburg, take a short position in the target company before publicly releasing the report. Hindenburg takes profits if the target company's share price declines."

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This week SEBI has proposed amendments to Angel Funds (a sub-category of Cat-1 AIF). TL;DR of the proposal: 1. Max investment by an Angel Fund in a company of up to INR 25Cr (currently 10Cr). 2. Min. investment in a company of INR 10L (currently 25L). 3. Replace min. angel fund corpus of INR 5Cr with a requirement that investing can start only once 5 accredited investors have been onboarded. 4. Angel fund employees & directors to invest a minimum of INR 5 Lacs in the angel fund. 5. Increase the scope of investors to HUFs, family trusts, and sole proprietorships. A lot of these seem too good to be true, but overall, they will boost capital deployment into venture capital opportunities and that is something to root for!

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Did you notice an interesting thing in Ola Electric IPO newspaper ad? Institutional Investors 'Alpine Opportunity Fund VI, LP' and 'Tekne Private Ventures XV, Ltd' are selling their shares at a price band of INR 72 - 76 each, whereas their Cost of Acquisition per share is INR 111.51 and INR 113.12 each. Both of them are booking a loss of approx 33% per share on their investment. If institutional investors have such less faith in the Company, should retail investors invest in this IPO or could this be another Paytm in the making? #IPO #OlaElectric #IPOinvesting

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Today's Headlines from : *Economic Times* 📝 3,638 FDI proposals cleared in sensitive sectors since 2019 📝 NARCL ups offer for Jaiprakash Associates debt to Rs 12,000 crore 📝 Festivals take e-toll collections to a record ₹6,000 crore in October 📝 Railways switches to fast track for Kavach rollout 📝 India tops global diabetes list with 212 million cases in 2022: Lancet Study 📝 Nokia to roll out 3,300 new 4G sites by March for Vi expansion 📝 Morgan Stanley, 2 others pick 6.8 pc stake in PNB Housing Fin for Rs 1,664 crore 📝 Nalco Q2 Results: Profit rises multi-fold to Rs 1,046 crore; Rs 4 per share dividend announced 📝 NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore 📝 Kalpataru Projects International bags orders worth Rs 2,273 crore 📝 Ecommerce AI startup BiteSpeed raised USD 3.5 million 📝 SaaS startup Zeplyn raises $3 million from Leo Capital, others 📝 Space startup Firefly valued at over $2 billion in latest funding round *Business Standard* 📝 Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value 📝 Marriott International, Samhi Hotels ink pact to open 3 properties in India 📝 India's Adani Group to invest $10 billion in US energy following Trump win 📝 Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore 📝 ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25 📝 NCLAT directs IL&FS to complete resolution of remaining firms by March 31 📝 ICAI to knock on MCA door against proposed audit standard revision 📝 India's outward FDI rises to $3.7 billion in October 2024: RBI data 📝 Mkt regulator Sebi mulls action for lapses in Artificial intelligence usage 📝 Festive season stabilises PV sales, 2Ws jump 14%; over 393K vehicles sold *Financial Express* 📝 Economists revise FY25 CPI inflation estimates to 4.7-5 per cent 📝 IN-SPACe taps DoT to cut spectrum price for Spacetech startups 📝 Eicher Motors Q2 profit rises 8 per cent to Rs 1,100 crore 📝 Power ministry readies interest subvention scheme for MSMEs 📝 Karnataka to organise venture capital connect with $17 billion investment potential 📝 IPO-bound NTPC Green plans to invest Rs 1 lakh crore by FY27 📝 Indebtedness of states expected to remain rangebound at 31-32% this fiscal, says CRISIL *Mint* 📝 US October inflation rises 2.6% YoY in first annual acceleration since March 📝 UN to come up with solutions to support countries cope with extreme heat 📝 BII, Norfund, IndiGrid form $300 million business for battery storage 📝 AstraZeneca Q2 net profit declines 10%, revenue up 31% 📝 Torrent Power Q2 Results: Net profit falls 8.6% YoY to ₹496 crore 📝 RBI retains SBI, HDFC, ICICI as India's too-big-to-fail banks 📝 Prosus offers to invest $100 million in Mintifi Finserve at unicorn valuation

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