Vishal Kampani, son of Nimesh Kampani (Indian securities market veteran) decides not to seek re-appointment as MD of JM Financial (JMF) and instead decides to take the position of Non-Executive Vice Chairman w.e.f. October 1, 2021. Key points to note – Kampanis (promoter family) own 54.75% of JMF. Decision to give up MD post is … Read more
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
You announced on Thursday that the government will provide ₹30,600 crore in guarantees to the National Asset Reconstruction Co. Ltd to buy ₹2 trillion of bad loans from banks. This will be in a 15:85 split, with NARCL offering banks cash for 15% of the value of assets and issuing security receipts for the rest … Read more
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
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