SBI does another interesting investment. This time into Pine Labs.

The bank is making a $20 mn investment into Pine Labs (PL). Key points to note – In May-July 2021, PL was valued at $3.5 bn when it had raised $ 600 mn from reputed investors including Fidelity, Blackrock and others. Later in September it had raised another $100 mn from Invesco at an undisclosed … Read more

Future Retail misses debt repayment obligation of Rs 3,495 crore

The Company has missed the last date for payment of Rs 3,494.56 crore to banks and others lenders. Key points to note – The last date for payment was December 31, 2021. The due date was as per the One Time Restructuring (OTR) plan approved by the lenders in April 2021 under an RBI announced … Read more

SBI does a Rs 100 crore private equity into JSW Cement. Why?

As per the media reports, State Bank of India (SBI) is investing Rs 100 crore into JSW Cement for a minority stake. Key points to note – Investment is through Compulsory Convertible Preference Share (CCPS) and the valuation linked to the Company’s future performance would be determined at the time of proposed IPO of the … Read more

“To save banks, we have to protect depositors”: PM Modi

Prime Minister Narendra Modi was speaking at the ‘Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 lakh’ Prime Minister Narendra Modi on Sunday said that the move to increase deposit insurance cover to ₹5 lakhs from ₹1 lakh, will fully insure ₹76 lakh crore of savings. “Such a comprehensive insurance cover is … Read more

LIC gets RBI approval to increase stake in IndusInd Bank

LIC had sought the approval as per the regulatory requirement  – The RBI norms mandate that every person or an entity who intends to make an acquisition in Private Banks of more than 5% stake, prior approval is needed from the Central Bank. Key points to note – LIC currently owns 4.95% in IndusInd. Approval … Read more

LIC gets RBI approval to increase stake in Kotak Mahindra Bank

LIC had sought the approval as per the regulatory requirement  – The RBI norms mandate that every person or an entity who intends to make an acquisition in Private Banks of more than 5% stake, prior approval is needed from the Central Bank. Key points to note – LIC currently owns 4.96% in Kotak Mahindra … Read more