Indian private lender, IndusInd Bank will sell Rs 3,288 crores worth of stakes to institutional investors as a measure to raise its capital funds base amid rising uncertainties caused by the pandemic outbreak. IndusInd is walking the same line that some of the other premier banks have already opted. Big wigs like HDFC Bank Ltd., …
Non-banking financial company, Mahindra Finance is gearing up to enter the market on July 28 with their rights issues worth Rs 3,088.82 crores. The shares, with a face value of Rs 2 each, will be available for Rs 50 apiece. Mahindra Finance will issue 61.78 crore equity shares to raise the desired volume of capital …
Gujarat based pharmaceutical company, Alembic Pharmaceuticals Ltd., is planning stake sales of USD150 to 200 million via QIP placement. The company is trying to catch the tide when the pharma companies are registering significant growth amid COVID-19 outbreak. The pandemic condition has shifted the economy’s focus to pharmaceutical companies, and their stocks are currently rallying …
As widespread digitisation has become the new norm, the government of India has taken a step further to simplify GST filing through a digitised platform. From October 1, e-invoicing for GST will become mandatory. However, the changed policy will implement only on businesses with a turnover of more than Rs 500 crores. Businesses below the …
The existing margin rule for intraday trading is going to change from December 1, 2020. The Securities and Exchange Board of India on Monday confirmed that from now onwards, traders and investors will have to maintain upfront margin in their account to receive leverage from brokers. The new upfront collection of margins guidelines by SEBI pave …
In the last three months Reliance platform, which also includes Reliance Jio has raised Rs 2,12,809 crore in capital investment from some of the leading global brands. Google, the global technology behemoth is the latest one to join the rank with several others. In the latest deal struck between Reliance Jio and Google, the latter …
The US retail behemoth and prime shareholder of Flipkart, Walmart has announced a new investment of $1.2 billion in the Indian e-commerce unicorn. It will increase the percentage of majority-stake of Walmart in the e-commerce platform and will bring up the post-money valuation of Flipkart to $24.9 billion. In 2018, Walmart acquired 77 percent of …
The Securities and Exchange Board of India (SEBI) may soon approve petrol futures to trade in the derivatives market, allowing bulking consumers to hedge against price rise. The petroleum ministry has approved a plan to remove hurdles from the ways for oil futures to trade in the Indian market. Since CoronaVirus outbreak petroleum prices have seen …
As COVID-19 cases are rising in the country, lockdown rules don’t seem to relax anytime soon. With this, the economic losses are mounting. COVID-19 has caused extensive business disruption by significantly lowering demand and supply in the economy. It has bogged down the capital market, sending investors on hiatus. And, the banking and finance sector …
The Security Issuance Committee of Shriram Transport Finance Company (STFC) has okayed the proposal to launch Rs 1500 crores rights issues to its existing stakeholders. In a meeting on Monday, July 6, the committee agreed to issue rights issue to raise funds from the market. In its filing announcement, the company declared that the promoter …
