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Yes, there are different kinds of investors with varying financial Power.Here are the types of Investors in the Stock Market:Individual Investors: An Individual Person investing in Securities is considered to be an Individual investor. It is further divided while applying for an IPO.Retail Investors: Individuals who can apply for IPO of an amount of less than ₹1 Lakh.High Net-worth Individuals(HNI): Individuals who can apply for IPO of the amount of more than ₹1 Lakhs.Partnership/HUF An association of members or group of peoples those who form a partnership firm or a Joint Hindu Family who have their HUF (Hindu Undivided Family) business and wants to invest their surplus fund into the securities market to earn returns on it, falls under this category of Investors. A HUF can also participate in the share market and invest in Mutual funds and shares. Since it is a separate entity, it can enjoy a basic tax exemption amounting to ₹ 2.5 lakh.Qualified Institutional Buyers (QIB’s): QIB’s are Institutional investors who are generally perceived to possess the expertise and the financial muscle to evaluate and invest in the capital markets. As it requires evaluation of current market conditions and involves a large amount of money, Mutual Funds, DII’s and FII’s Belong to this category. Below are some examples:Scheduled commercial banksMutual fundsForeign institutional investor registered with SEBIVenture capital funds registered with SEBI.Provident Funds with minimum corpus of ₹25 Crores.Pension Funds with minimum corpus of ₹25 Crores.A public financial institution as defined in Companies Act, 2013. Etc.Mutual Funds: Mutual Funds managed by Fund Manager invests in different Stocks, bonds as per Risk criteria.Some examples are Kotak Mutual Funds, ICICI Prudential Mutual Funds, etc.Domestic Institutional Investors (DII’s): DII invests in financial assets such as stocks, bonds, etc of the country they are based in one or in which it is registered or headquartered. These are mainly Insurance Companies, Pension Funds, Mutual Funds.Some well-known names are LIC, HDFC MF, etc.Foreign Institutional Investors (FII’s): FII invests in financial assets such as stocks, bonds, etc of a country outside the one in which it is registered or headquartered. These are mainly Hedge Funds, Insurance Companies, Pension Funds, Mutual Funds.Popular examples are Europacific Growth Funds, Govt. of Singapore, Oppenheimer Developing Market Funds, etc.Next time think like a Qualified Institutional Buyer while buying Securities.Hope it Helped You.Thank You.

Here’s one clue: Self-motivation.I used to love hearing some form of motivation talk or speech. Or just something that “wakes me up” from my rot.But if I’m completely honest, self motivation is one of the biggest mistakes I made to improve myself. I’m not sure why but there used to be this picture in my head where people have to somehow wait to be pumped up in early in the morning with the sun shining nicely through the window before they start attacking their goals.I once believed that just thinking about motivation would have me improve. Names like Jordan Belfort, Grant Cardone, Gary V and Dwayne “The Rock” Johnson would fill my Instagram feeds all day reminding me that success is just around the corner.I did it because when I scrolled through my Instagram feeds, there was all my friends sharing “motivational quotes”. I was enthralled. I led myself to believe that if I surround my feed with influential thoughts, I was setting up myself for success. I’d be able to feed on their success because I’m “surrounded” by successful figures.Then for a time between June to October 2019 I started noticing something. I wasn’t changing. In fact I was getting tired of viewing feeds and imagining myself in there. Truth is I had no idea what I needed to improve on.I lived the superficial lie that if I just feel successful, then naturally success would come to me.HOW WRONG I WAS.In November 2019 at the peak of my superpowered inspiration of feeling good and self motivated, I went into financial planning under Prudential. Prudential was a mighty insurance company in Singapore. One of the top 3 firms, it battled for top dog position and its reputation precedes like no other.I showed up at office with a devil may care attitude and was feeling super confident. I kept telling myself “I’m feeling confident I’m feeling confident’. I kept replaying in my head that whoever feels super confident would go on to close and excel in this job.Except for one thing …. I WASN’T PREPARE TO GO ALL THE WAY.From the first week I knew something was off. Every time I made a call to a prospect or showed up to meet them, I put on a confident facade that masks real desperation and fear. I keep ignoring the signs that was bearing on me. I was too stubborn to pay attention.Fast forward to third week of November, my stress levels started to shoot. It skyrocketed at maximum velocity. What used to be a normal going to work turn out to be a harrowing experience daily. My diet of chicken breast, black rice and broccoli started getting affected.Instead of eating them full, I would go 50% or less every 2-3 meals. Physically I felt like shit. I couldn’t figure out why my body started functioning as such. It couldn’t be a physical issue because I was healthy and fit. And I knew it wasn’t my diet nor my sleep.What I found out on the last day in third week was that mentally I was crumbling. I was deteriorating to a point where I had difficulty getting up without feeling stress after a night’s sleep. In fact in one of the days, I rang up the Health Helpline to check if I had depression.The conversation took around 20 minutes and I shared I was feeling very nauseous, vomit-like, stress, exhausted and dizzy every time I took a walk to the bus stop or train station. I’d never been like this before.Yes I’ve done physical combat in Army, but I never felt so mentally defeated. I asked multiple times if I had depression but she reassured me that if I wasn’t having any suicidal thoughts, then I’m still ok and just having stress from a new work.I remembered saying that I didn’t want to be suicidal. Feeling pain was ok but suicidal was a whole different animal altogether.During the third week. I told my boss that I needed to leave. I needed time to recover from this hole I’m in. I’ve hit through a couple of rock bottoms, but this was a whole other level. I knew I needed to salvage myself. And that self motivation was just another line of bull shit that didn’t work for me.When my boss assured me that it was best to leave and recover, I knew I’d make a mistake. I’d make a mistake of not aligning my purpose with my work and using self-motivation as a crutch to avoid the hard work.I found out how weak I was, and how much work I needed to do to improve. I knew I needed a vantage point, and I needed to find it.I’ve come to realise self-motivation is just an emotion. One that comes and goes, but who really goes when shit turns tough.Self motivation may sound nice and feels good, but to really improve, it takes more than motivation to get through the millions and millions of obstacles to come.P.S. If you like what I posted, you can check out more cool content at my Quora profile page Hazmo Haz.

Asia’s oldest stock exchange, Bombay Stock Exchange or BSE, is coming out with its Initial Public Offer (IPO) of Rs. 1,243 crore from today. The issue comprises of an offer for sale of around 1.54 crore shares by its existing shareholders in a price band of Rs. 805-806. Like all other IPOs, this issue will also remain open for three days to close on January 25.Before we analyse some of its fundamental attributes, let us have a take a look at some of the salient features of this IPO:Price Band – BSE has fixed its price band in a very tight range to be between Rs. 805-806 per share and no discount or special preference will be given to the retail investors.Size & Objective of the Issue – This issue is an Offer for Sale (OFS) by some of the BSE’s existing shareholders and thus no fresh issue of shares is involved. Singapore Exchange, Quantum (M) Limited, Atticus Mauritius Limited, GKFF Ventures, Caldwell India, Acacia Banyan Partners and Bajaj Holding and Investment are a few of the 302 shareholders selling their stakes in this offer either fully or partially.These shareholders will sell approximately 1.54 crore shares and raise around Rs. 1,243 crore in this offer at Rs. 806 per share. These shares represent 28.26% of the total outstanding shares of BSE.Retail Allocation – 35% of the issue size is reserved for the retail individual investors (RIIs) i.e. approximately 54 lakh shares out of 1.54 crore shares. 15% of the issue size is reserved for the non-institutional investors and the remaining 50% shares will be allocated to the qualified institutional buyers (QIBs).No Discount for Retail Investors – BSE has decided not to offer any discount or any other special treatment for the retail investors in this IPO.Anchor Investors – Out of 1.54 crore shares to be issued, BSE has already issued around 46 lakh shares to some of the big anchor investors at Rs. 806 per share. Investment form these investors would amount to Rs. 373 crore. These investors include Smallcap World Fund, ICICI Prudential Mutual Fund, Goldman Sachs India, HDFC Trustee Company, Reliance Trustee Company, FIL Investments (Mauritius) and Kuwait Investment Authority Fund, among others.Bid Lot Size & Minimum Investment – Investors in this offer need to bid for a minimum of 18 shares and in multiples of 18 shares thereafter. So, you as a retail investor would be required to invest a minimum of Rs. 14,508 at the upper end of the price band and Rs. 14,490 at the lower end of the price band.Maximum Investment for Retail Investors – Individual investors investing up to Rs. 2 lakh are categorised as retail individual investors (RIIs). As a retail investor, you can apply for a maximum of 13 lots of 18 shares @ Rs. 806 i.e. a maximum investment of Rs. 1,88,604 or @ Rs. 805 i.e. a minimum investment of Rs. 1,88,370. Investors opting for the “Cut-Off Price” option should apply for a maximum of 13 lots of 18 shares.Listing – As BSE itself is a stock exchange, as per SEBI regulations, it cannot go ahead and list itself on its exchange. So, it will have to get itself listed on the National Stock Exchange (NSE). Allotment and listing will happen within 6 working days after the issue gets closed on January 25. These shares are expected to list on February 3 on the stock exchanges.Here are some of the important dates for this IPO:Issue Opens – On January 23, 2017Issue Closes – On January 25, 2017Finalisation of Basis of Allotment – On or about January 31, 2017Initiation of Refunds – On or about February 1, 2017Credit of equity shares to investors’ demat accounts – On or about February 2, 2017Commencement of Trading on the NSE – On or about February 3, 2017Financials of BSE LimitedBSE has four sources of revenues — Securities Services, Services to Corporates, Data Dissemination Fees and Income from Investments and Deposits. As you can check from the table below, around 39% of BSE’s total revenues in the first six months of the current financial year have come from its securities services, 29% from investment income and 21% from services to corporates. Rest of its revenues are derived as data dissemination fees.Note: Figures are in Rs. Crore, except per share data & percentage figuresBSE reported an EPS of Rs. 19.22 for the period ending September 30, 2016 and on an annualised EPS of Rs. 38.44, this issue is valued at 20.97 times at the upper end of its price band. As per the SEBI regulations, BSE is required to reduce its stake in CDSL from 50.05% to 24% and whenever that happens, it would result in a one-time healthy jump in its EPS. If you consider that, this issue would look less expensive to you.MCX is the only other listed exchange here in India and it is currently trading at around 32 times its estimated FY 2017-18 earnings. However, MCX is a growing exchange and commands leadership in the commodities derivatives market with close to 90% market share. That is why it would be unfair to offer such a high price multiple to BSE.While BSE’s market share in the equity derivatives segment is less than 1%, it has been declining steadily in the equity cash segment as well and currently stands at 13.37%. It has resorted to liquidity enhancement initiatives in the past in order to attract brokers to trade more on its platform, but that has not resulted in a sustained gain in market share for the exchange.Market Share of NSE and BSE in Equity Cash Segment – Rs. 000 millionAt Rs. 806 a share, I think BSE’s valuation is not greatly expensive and if the market sentiment remains positive post budget, it should ideally get listed at a premium. But, the issues with the exchange are fundamental in nature. Why is it that the exchange is losing market share to the NSE in the equity cash segment and why has it failed to retain its market share in the derivatives segment after its liquidity enhancement initiatives got discontinued?Also, though the exchange is not going to get any cash out of this IPO, but are there any plans the management is working on to utilise the cash the exchange currently has in order to increase its revenues and profitability on a sustainable basis? If you look at the growth in its revenues and profits in the last 4-5 years, it seems every effort made by the exchange to increase its market share and add value to the shareholders has failed to do so.I think as a risk taker you can apply to this IPO and expect some listing gains. But, in the long run, I think the exchange will have to work very hard on its strategy to gain market share on a sustainable basis. Investors can hold on to their shares till the time NSE comes out with its IPO and gets its shares listed on the BSE. But post that, they need to push BSE’s management to do it differently this time to gain a sustainable market share.