Five public sector insurance firms are set for a windfall pegged at about ₹7,200 crore from the sale of 40 million National Stock Exchange shares in the bourse’s proposed IPO, according to the draft prospectus, based on an assumed valuation of ₹1,800 a share.
New Delhi, Sebi has proposed tighter advertising norms for online bond platform providers, including restrictions on promotional claims that could encourage investors to make decisions without adequate due diligence. The proposed revised advertisement code seeks to address the growing use of digital advertising, social media and influencer-led promotions by online bond platforms, according to a…
Shares of CEAT sharply plunged more than 9% on Friday after the tyre-maker reported a whopping 96% year-on-year (YoY) decline in its consolidated net profit to Rs 4 crore for the April-June quarter of FY27. The shares of the company plunged to Rs 3,471.10 apiece on NSE on Friday. If the stock manages to hold…
Karamtara Engineering Ltd has fixed the price band for its Rs 875 crore IPO at Rs 241-254 per equity share, with the issue set to open for subscription on Wednesday, September 9. The IPO will close on Friday, September 11. The allotment is expected to be finalised on September 15, while refunds and credit of…
Mumbai: Several Indian lenders are likely to focus on the overseas foreign currency borrowing (OFCB) window to raise more funds abroad, as the advanced August 31 deadline for individual deposits targeted at the diaspora has left them with insufficient time to close fundraising deals. The December 31 OFCB deadline, to be sure, remains unaltered. Bankers…
Mumbai: InCred hired three senior executives who helped rival Avendus build its wealth management business to lead a new platform focused on ultra-high-net-worth individuals, as financial firms compete for a growing pool of wealthy Indian clients. Alok Agrawal, Harmeet Sahney and Zarksis Gotla joined InCred as cofounders of InCred Black, a new business targeting UHNIs,…
State Bank of India (SBI), the country’s largest lender, has revised interest rates on bulk fixed deposits, with the latest changes largely affecting shorter-term deposits of ₹3 crore and above. SBI has reduced rates on domestic bulk term deposits by up to 25 basis points (bps) for select maturities. The revised rates took effect on…