On Thursday, Ashok Leyland, a manufacturer of commercial vehicles, announced a partnership with CSB Bank Ltd to provide vehicle financing solutions to its clients. A Memorandum of Understanding between the two businesses will allow them to work together to provide consumers of the automaker with specialized financial solutions, Ashok Leyland said in a statement. "The [...]
On the first day of subscriptions on Wednesday, 73% of the shares of Rishabh Instruments' Initial Public Offering (IPO), a provider of worldwide energy efficiency solutions, were subscribed The IPO received bids for 56,75,008 shares against 77,90,202 shares on offer, as per the NSE data. The category for Non-Institutional Investors (NIIs) was subscribed 1.24 times, [...]
The most valued fintech business in India, operating profit is anticipated by 2025, a top official of the company said on Wednesday. PhonePe founder and CEO Sameer Nigam told PTI that the company's payment, advertising, banking and insurance businesses will reach breakeven by the time the company becomes operationally profitable at the group level. While [...]
In an open market transaction Japanese conglomerate Softbank on Wednesday sold a 1.16 per cent stake in online food ordering company Zomato for Rs 947 crore. Softbank through its affiliate SVF Growth (Singapore) Pte offloaded the shares of Zomato on the National Stock Exchange. Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Franklin Tempelton [...]
In open market transactions on Wednesday, four entities sold shares of the NBFC company Spandana Sphoorty Financial for Rs 268 crore. Valiant Mauritius Partners FDI, Valiant India Opportunities, Valiant Mauritius Partners and Valiant Mauritius Partners Offshore were the entities that sold the shares of Spandana Sphoorty Financial on the BSE. According to BSE Bulk Deal [...]
The IPO-bound Honasa Consumer Ltd., which owns new-age FMCG brands like Mamaearth and The Derma Co., anticipates raising Rs 400 crore from listing and plans to use the money primarily for offline expansion, bringing more brands to market, and acquisitions, its Co-founder and CEO Varun Alagh said. In addition to scaling its other brands like [...]
On Thursday, shares of Aeroflex Industries were listed on the exchanges at a significant premium of 83% over their issue price of Rs 108. The stock listed at Rs 197.40, reflecting a steep jump of 82.8 per cent on the BSE. On the NSE, the scrip made its debut at Rs 190, witnessing a sharp [...]
A 28.12-megawatt green energy facility will be built in Maharashtra through a partnership between Tata Power Renewable Energy Limited (TPREL) and Sanyo Special Steel Manufacturing India Private Limited (SSMI). In a statement on Thursday, TPREL, an arm of Tata Power, said it has signed the Power Delivery Agreement (PDA) with SSMI through its Special Purpose [...]
Shares of the Adani Group fell on Thursday after a report from the investigative reporting platform OCCRP claimed that partners of the promoter family of billionaire Gautam Adani invested hundreds of millions of dollars through Mauritius-based "opaque" investment funds in publicly traded group stocks. However, the conglomerate denied the charges vehemently. On the BSE, the [...]
On the final day of bidding on Monday, the Initial Public Offering (IPO) of Vishnu Prakash R Punglia Ltd. was subscribed 87.81 times, helped by strong engagement from institutional buyers. The company is into Engineering, Procurement, and Construction (EPC) works. The Rs 308.88 crore-public issue received bids for 1,92,56,17,350 shares against 2,19,30,000 shares on offer, [...]
