Sector: NBFCs
Carlyle continues to sell stake in SBI Cards and continues to add to the booty
Carlyle is set to divest another 3.4% stake in SBI Cards and will now be left with just 3.1% stake in the Company. The sale will happen in the price band between Rs 1,021–Rs 1,072.3 per share (closing price as on September 20, 2021 was Rs 1,072.3) Key points to note – SBI Cards was … Read more
SEBI barred ex MD Abhay Bhutada may not have done anything wrong: Adar Poonawalla
As per Mr Poonawalla, he was shocked when he first heard the news about SEBI barring Bhutada and seven others from the securities market for alleged insider trading of the shares of the Company (Poonawalla Fincorp earlier knows as Magma Fincorp). Following that, Bhutada stepped down from the post of MD on September 16, 2021, … Read more
CEO of Srei Infra resigns
Rakesh Bhutoria, CEO of Srei Infrastructure Finance has resigned. Key points to note – The Company is currently under the control of lenders as it is undergoing debt resolution. The Company has more than Rs 30,000 crore of debt. For reference, the current market cap of the Company is about Rs 400 crore. Since December … Read more
AU continues to see key personnel exits. Bound to make investors nervous
March 3, 2021 – Nitin Gupta, Chief Auditor Officer resigns and eventually moves to Equitas Small Finance Bank July 14, 2021 – Alok Gupta, Chief Risk Officer resigns. Disclosed by the Company only on August 29, 2021 supposedly after their inability to try retain him back August 31, 2021 – Sumit Dhir, Head Internal Audit … Read more