Findi Secures Cash Injection From Leading Indian Investment Group
Findi Secures Cash Injection From Leading Indian Investment Group
Findi Limited (ASX:FND) Chairman Nicholas Smedley discusses the details that its Indian subsidiary TSI has successfully raised $37.6m via a placement to leading Investment group, Piramal Alternatives.
Findi Limited（澳大利亚证券交易所股票代码：FND）董事长尼古拉斯·斯梅德利讨论了其印度子公司TSI通过向领先的投资集团Piramal Alternatives配售成功筹集了3,760万美元的细节。
Paul Sanger:
保罗·桑格：
I am Paul Sanger for the Finance News Network. And today I'm talking with Findi Limited, (ASX:FND), and they have a market cap of around $40m. Findi provides bespoke payment services for one of the world's largest developing markets while being part of the digital banking revolution where we have banking without banks, payments without cards, and customers able to transact in a fast and flexible way from any location. We welcome back Findi Chairman Nicholas Smedley. Nicholas, many thanks for your time today.
我是金融新闻网的保罗·桑格。今天我正在与Findi Limited（澳大利亚证券交易所股票代码：FND）谈话，他们的市值约为4000万美元。Findi为世界上最大的发展中市场之一提供定制的支付服务，同时也是数字银行革命的一部分，在数字银行革命中，我们的银行业务无需银行，无需信用卡付款，客户可以在任何地方以快速灵活的方式进行交易。我们欢迎芬迪董事长尼古拉斯·斯梅德利回来。尼古拉斯，非常感谢你今天抽出时间。
Nicholas Smedley:
尼古拉斯·斯梅德利：
Thank you very much.
非常感谢。
Paul Sanger:
保罗·桑格：
So, Nicholas, the company has just announced that your Indian subsidiary, TSI India, has successfully raised $37.6 million via placement of Convertible Debentures that are compulsorily convertible to equity at IPO. This is a material announcement for the company. Can you tell us about the transaction and some of the counterparties involved, please?
因此，尼古拉斯，该公司刚刚宣布，您的印度子公司TSI India已通过配售可转换债券成功筹集了3,760万美元，这些债券在首次公开募股时必须转换为股权。这是该公司的重大公告。你能告诉我们这笔交易以及所涉及的一些交易对手吗？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yeah. No, it's a significant milestone for us, it really sets us up to deliver on our medium-term growth objective for both inorganic and organic expansion, in both the digital payments and ATM network in India. The Piramal, who has conducted almost six months of due diligence on us, is one of a large investment house in India, their parent company has over US$10 billion in net assets. The Alternatives Fund that invested in us has US$1.5 billion under management. And most importantly, the specific fund that invested in us is also backed by one of Canada's largest pension funds, which has about $440 billion under management. So great endorsement from institutional grade investors.
是啊。不，这对我们来说是一个重要的里程碑，它确实为我们在印度的数字支付和自动柜员机网络中实现无机和有机扩张的中期增长目标做好了准备。Piramal对我们进行了近六个月的尽职调查，是印度一家大型投资机构之一，其母公司的净资产超过100亿美元。投资于我们的另类基金管理着15亿美元。最重要的是，投资于我们的特定基金还得到了加拿大最大的养老基金之一的支持，该基金管理着约4,400亿美元。机构级投资者对此给予了极大的支持。
Paul Sanger:
保罗·桑格：
And how was the equity valuation determined ahead of the capital raising?
在筹集资金之前，股票估值是如何确定的？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Was based on effectively a 10 times multiple on last year's earnings, which derived a number of $150-odd million, pre-IPO, pre-money. And $190 million post-money. And if you would like to do the Indian conversion, that's 813 crore, is what the valuation was determined as.
实际上是根据去年收益的10倍来计算的，首次公开募股前收益的收益超过1.5亿美元。还有1.9亿美元的后付款。而且，如果你想对印度进行转换，那就是8.13亿美元的估值。
Paul Sanger:
保罗·桑格：
And once listed, what would be the anticipated percentage holding of the parent Findi in TSI?
一旦上市，母公司Findi在TSI的预期持股百分比将是多少？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yeah. So as it stands at the moment, with the cap table and commitments that we have, about 16.7% is the effective conversion amount for equity holding for Piramal at IPO.
是啊。因此，就目前而言，根据我们的上限表和承诺，Piramal在首次公开募股时股权的有效转换金额约为16.7％。
Paul Sanger:
保罗·桑格：
And how will the funds be used going forward?
未来将如何使用这些资金？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yeah. We'll be using these funds to basically give us a significant balance sheet to enable us to look at other contracts for brown label ATM, accelerate our white label ATM deployment once we receive that license, which we're expecting before Christmas. And then there are also other acquisition targets in both the digital space and the white label ATM space that are logical for us with this war chest.
是啊。我们将使用这些资金基本上为我们提供可观的资产负债表，使我们能够研究棕色标签自动柜员机的其他合同，在我们收到该许可证后加快白标自动柜员机的部署，我们预计将在圣诞节前这样做。此外，数字空间和白标自动柜员机领域还有其他收购目标，对于我们来说，有了这个战争储备金是合乎逻辑的。
Paul Sanger:
保罗·桑格：
And, Nicholas, to finish up, would I be correct in saying that Findi is the only ASX company that has direct exposure to India?
而且，尼古拉斯，总而言之，我说芬迪是唯一一家在印度直接投资的澳大利亚证券交易所公司，这是否正确？
Nicholas Smedley:
尼古拉斯·斯梅德利：
Yes. As far as we're aware, Findi is the only 100% pure play Indian exposure for the financial services market in Australia. So if Australian investors want exposure to India, they need to go through Findi.
是的。据我们所知，Findi是澳大利亚金融服务市场上唯一的100％纯印度投资者。因此，如果澳大利亚投资者想投资印度，他们需要通过Findi。
Paul Sanger:
保罗·桑格：
Nicholas, there seems to be a massive discrepancy between what an entity in India just paid for an ownership share in TSI versus where your stock is currently trading on the ASX. Would you agree with that?
尼古拉斯，印度一家实体刚刚为TSI所有权股份支付的费用与您的股票目前在澳大利亚证券交易所的交易价格之间似乎存在巨大差异。你会同意吗？
Nicholas Smedley:
尼古拉斯·斯梅德利：
I'd agree with that wholeheartedly. Just recently, Red Leaf Securities last week actually put out a broker research report on Findi Limited, and they had a price target of $3.61. So you can see that it's starting to be valued at more appropriate levels. But the share price now, there's a big disconnect, it's a four to one compared to the price that Piramal paid at the moment. And obviously we see more growth ahead.
我会全心全意地同意的。就在最近，红叶证券上周实际上发布了一份关于Findi Limited的经纪商研究报告，他们的目标股价为3.61美元。因此，你可以看到它的估值已开始处于更合适的水平。但是现在的股价存在很大的脱节，与皮拉马尔目前支付的价格相比，是四比一。显然，我们预计未来会有更多的增长。
Paul Sanger:
保罗·桑格：
Nicholas Smedley, many thanks for your time today.
尼古拉斯·斯梅德利，非常感谢你今天抽出时间。
Nicholas Smedley:
尼古拉斯·斯梅德利：
Thank you very much.
非常感谢。
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