Latest Updates Around The World
Alphabet-backed Aye Finance has raised Rs 454 crore from major investors ahead of its IPO, which opens for public subscription on February 9, lending strong institutional backing to the NBFC, focused on micro-SME lending.The company informed the stock exchanges that it had allotted shares to investors at Rs 129 per share, the top end of […]
Mumbai: A provision in the recently passed Insurance (Amendment) Bill has raised concerns among insurers over its potential impact on board composition as the current wording, the industry believes, could inadvertently disqualify a large number of directors. Particularly at risk are bank-promoted insurance companies that share managerial talent with lenders and other banking subsidiaries.The clause […]
London-based Prudential Corporation Holdings is poised to raise a whopping Rs 10,603 crore in the IPO of India’s largest active asset manager, posting a mind-boggling 108,170% return on shares bought 20 years ago at just Rs 2 each. ICICI Prudential Asset Management Company’s mega offering, which opened for public subscription on Friday, has created a […]
ICICI Prudential AMC has raised Rs 3,022 crore from 148 investors across sovereign wealth funds, global asset managers, domestic insurers, pension funds, mutual funds and family offices ahead of its Rs 10,600-crore IPO.The participation pattern indicates broad institutional conviction ahead of the public issue, which runs from December 12 to 16 at a price range […]
A slew of foreign and domestic institutions and family offices were among the 26 investors who participated in ICICI Prudential Asset Management’s pre-IPO share sale worth around Rs4,900 crore.Several major investors such as Abu Dhabi’s Lunate, Premji Invest, University of California, the estate of late Rakesh Jhunjhunwala, HCL Capital, 3P India managed by Prashant Jain, […]
Eyewear retailer Lenskart Solutions has raised Rs 3,268.36 crore from 147 anchor investors ahead of its much-awaited IPO, which opens for subscription on October 31 and closes on November 4. The company has allotted 8.13 crore equity shares at the high end of the price band – Rs 402 per share (face value Rs 2 […]
Aditya Birla Capital witnessed a major block deal worth Rs 819 crore on Tuesday when Advent International’s arm Jomei Investments sold 2.66 crore shares of the financial services arm of Aditya Birla Group at Rs 308 per share on the NSE. The transaction saw strong institutional participation, with major investors such as Goldman Sachs Bank […]
Utkarsh Small Finance Bank plans to allot shares to a group of investors, including a fund house run by Madhusudan Kela, the Massachusetts Institute of Technology and HDFC Life, through a rights issue of Rs 949 crore, the lender said on Friday. The other investors include FLC Investco, Kotak Mahindra Life Insurance and ICICI Prudential […]
HDFC Life Insurance Company on Wednesday reported 3% year-on-year growth in consolidated net profit in the second quarter at Rs 448 crore, compared to Rs 435 crore in the same period a year ago. The company reported a 14% increase in its net premium income (NPI) for the reported quarter at Rs 18,871 crore, compared […]
The insurance sector will make sense from the recent decision of the GST Council to release the health and life insurance policy of the retail trade from the previously applicable 18% tax. From effect from 22 September, the relocation is expected to be reduced the policy premiums, improves affordability and accelerates penetration in a market […]
