Zoomcar raises $9.15 mn from institutional investors

Zoomcar raises .15 mn from institutional investors

Self-drive car-sharing platform Zoomcar on Friday said it has raised USD 9.15 million (about Rs 76 crore) from institutional investors. The proceeds will be used for repayment of approximately USD 3.8 million in debt and the remaining amount for general corporate purposes and working capital needs. In connection with the private placement, the company said … Read more

A.P. to be developed as drone capital of India: official

A.P. to be developed as drone capital of India: official

Organisers making arrangements for Drone Show at Punnami Ghat, in Vijayawada on Monday. | Photo Credit: G.N. RAO The State government will prepare the AP Drone Policy by November-end this year, and efforts are being made to develop Andhra Pradesh as the drone capital of India, said Principal Secretary (Infrastructure and Investments) S. Suresh Kumar. … Read more

New policy surrender rules, intense competition likely to affect HDFC Life’s H2 performance

New policy surrender rules, intense competition likely to affect HDFC Life’s H2 performance

The stock of HDFC Life recovered partially on Wednesday, gaining 1.9% after sliding by nearly 4% the previous day following the insurer’s second quarter result announcement. The stock reported weakness despite the double digit growth in premiums and improving market share. A major concern was the rising pressure on the new business margin (VNB margin). … Read more

RIL sets October 28 as record date for 1:1 bonus share

RIL sets October 28 as record date for 1:1 bonus share

Oil-to-retail conglomerate Reliance Industries (RIL) has fixed Monday, October 28, 2024 as the record date for determining shareholders eligible for the issue of 1:1 bonus shares, for which it got approval from shareholders. The company in a filing to the stock exchanges also said that it has received shareholders’ approval for increasing its authorised share … Read more

IPO market braces for a brief slowdown, with only 2 issues set to raise Rs 365 crore this week

IPO market braces for a brief slowdown, with only 2 issues set to raise Rs 365 crore this week

After a wave of initial public offerings (IPOs) in recent weeks, the primary market will experience a brief slowdown, with only two new public issues scheduled for the next week, aiming to raise Rs 365 crore. There were 12 IPOs in the mainboard segment and 40 in the SME (small and medium enterprise) segment in … Read more

Northern Arc Capital mobilises Rs 229 cr from anchor investors ahead of IPO

Northern Arc Capital mobilises Rs 229 cr from anchor investors ahead of IPO

Non-bank financial institution Northern Arc Capital on Friday said it has collected Rs 229 crore from anchor investors, days before the opening of its share-sale for public subscription. SBI General Insurance Company, SBI Life Insurance Company, Reliance General Insurance Company, Kotak Mahindra Life Insurance Company, Goldman Sachs (Singapore) Pte, Societe Generale, and Quant Mutual Fund … Read more

Unlocking Growth: Bajaj Housing Finance set for IPO as it eyes market expansion

Unlocking Growth: Bajaj Housing Finance set for IPO as it eyes market expansion

“We are taking public Bajaj Housing Finance, which currently is a 100% subsidiary of Bajaj Finance. It is a seven-year-old company and in these seven years the equity capital has been provided by Bajaj Finance, which is also growing as we know,” says Sanjiv Bajaj, Chairman, Bajaj Housing Finance.“The way we look at businesses, we … Read more

Bank of Baroda may raise up to Rs 5,000 crore through infra bonds in coming days

Bank of Baroda may raise up to Rs 5,000 crore through infra bonds in coming days

Bank of Baroda is likely to raise up to Rs 5,000 crore through the issuance of infrastructure bonds in coming days, as the state-owned lender looks to garner long-term funds amidst firm demand for credit. The bank may conduct the debt sale on September 6, with the issuance likely to have a base size of … Read more

New-age companies lead August’s IPO record for this year, raising Rs 17,000 crore. What’s next?

New-age companies lead August’s IPO record for this year, raising Rs 17,000 crore. What’s next?

The previous highest amount raised through the market was in February when companies collected approximately Rs 7,500 crore. In July, companies raised around Rs 5,063 crore. August also saw several new-age companies, including marquee names like Ola Electric, Unicommerce, and Brainbees Solutions, tapping the public markets. The highly anticipated IPO of Ola Electric successfully raised … Read more

Sebi mulls expanding scope of informal guidance scheme, raises fees

Sebi mulls expanding scope of informal guidance scheme, raises fees

Capital markets regulator Sebi on Friday proposed changes to the informal guidance scheme to expand the list of applicants that can seek guidance under the plan and enhance the fee for making an application. In its consultation paper, Sebi has proposed that stock exchanges, clearing corporations, depositories and managers of a pooled investment vehicle registered … Read more