Bain Capital is investing Rs 4,385 cr to acquire an 18.0% stake in Manappuram Finance (MFL). Stake is being acquired through the preferential allotment 50% is upfront equity infusion 50% is through warrants Investment is @ Rs 236 per share/ warrant; 9% premium to the last closing price. The stock has increased by 37% in … Read more
IndusInd continues to face headwinds. Now in a public disclosure it has informed to have found discrepancies in certain account balances related to its derivative transactions. Internal review was conducted in response to RBI’s September 2023 directions on investment portfolios for lenders, focusing on their ‘Other Asset and Other Liability’ accounts. The estimated impact is … Read more
As against the requested tenure extension of 3 years, RBI has only granted a one year extension to Sumant Kathpalia as MD & CEO of IndusInd Bank. Bank had sent the request to RBI in September 2024 for 3 years. RBI has given the approval for one year from March 24, 2025 till March 23, … Read more
CARE has got feedback from Gensol’s lenders that there have been delays in the servicing of term loan obligation and hence the downgrade from BB+ to D. Company had an outstanding debt of Rs 1,150 cr as at December 31, 2024. It had negative operating cash flows during FY 24. During the current year, the … Read more
As is typical of many new age startups, one more notice for violations. The Enforcement Directorate (ED) has issued a show-cause notice to the parent company and two subsidiary companies of Paytm for allegedly violating provisions of the Foreign Exchange Management Act (FEMA). Notice is to the parent One 97 Communication limited (OCL), it’s managing … Read more
Reserve Bank of India’s (RBI) decision to introduce exclusive domains for banks will make it easier to identify genuine banking websites and avoid phishing scams. Customers can verify a bank’s authenticity by checking if its website has the ‘bank.in’ extension before making transactions. RBI governor Sanjay Malhotra said rising fraud in digital payments is a … Read more