Fintech company Pine Labs, backed by Peak XV, is targeting a listing by the second week of November. The company’s $700 million initial public offering (IPO) is expected to open in the first week of November, according to three people familiar with the plans. “The company is likely to go public between November 10-15. The … Read more
IndusInd International Holdings Ltd. (IIHL), Mauritius has announced the acquisition of 100% stake in Sterling Bank, Bahamas. The company said in a statement that it had earlier acquired 51% stake in September 2022, and has now completed the acquisition of the remaining 49% equity. The acquisition was made through IIHL’s wholly owned subsidiary, IIHL (Capital), Mauritius. … Read more
Zerodha founder and CEO Nithin Kamath has warned that a continuation of the ongoing stock market headwinds may force his brokerage house, which has long pioneered a free platform for its millions of users, may have to start charging fees. In a recent blog, Nithin Kamath said that Zerodha had suffered a significant 40 per … Read more
International Holding Company (IHC), a leading Abu-Dhabi based global investment company is investing Rs 8,850 cr ($1 Bn) into Sammaan. Transaction comprises of 33 cr equity shares at Rs 139/ share (18% discount to previous day’s price) aggregating to Rs 4,587 crore; and 30.7 cr warrants, convertible into equity shares, for Rs 4,263 crore. Above … Read more
Amid intense speculation over Tata Sons‘ perceived non-compliance with the RBI‘s mandate to list, Governor Sanjay Malhotra on Wednesday said an entity can continue to do business till its registration is not cancelled. The central bank had asked a set of entities, including Tata Sons, the holding company of the salt-to-software conglomerate, to list by … Read more
There are widespread rumors in media that Mitsubishi UFG Financial Group (MUFG) is looking to acquire 20% stake in Shriram Finance (SFL) for $2.6bn. As per the speculations – Stake would be acquired through fresh issue MUFG would be open to gradually increase stake and hence also possibility of open offer at some stage The … Read more
HDFC Bank has been barred from onboarding new customers at its Dubai International Financial Centre (DIFC) branch by the local regulator. In an exchange filing, the Bank said it has received the “decision notice” from DFSA, which points to alleged violations. Details of the violations were not informed by the bank. It can continue to … Read more
Finance minister Nirmala Sitharaman on Thursday called upon banks and financial institutions with strong balance sheets to step up lending for public infrastructure, industry and the MSME sector.Addressing the Foundation Day event of Bank of Maharashtra, Sitharaman highlighted the critical role of banks amid growing global uncertainty. “The global environment has become increasingly unpredictable. The … Read more
Zerodha co-founder and CEO Nithin Kamath has explained why the brokerage firm is not chasing an initial public offering (IPO), even as many Indian startups and financial services companies line up for listings. Responding to a question on Reddit about what makes Zerodha profitable and why the company has avoided going public, Kamath shared that … Read more