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SBI Funds Management secured ₹1,655 crore from investors before its IPO. This pre-IPO share sale occurred ahead of the company’s upcoming public offering. The asset manager’s ₹11,693 crore IPO is the largest public issue scheduled for 2026. PI Opportunities Fund-II and Enam’s Akash Manek Bhanshali were among the significant investors. The transaction involved selling a…
Shapoorji Pallonji Group secured significant funding through debt issuance. This refinancing effort attracted both domestic and global institutional investors. The company raised approximately Rs 21,500 crore in its initial funding tranche. Investors showed strong interest, with many participating for the first time. This move is part of a larger plan to replace higher cost debt.
Bank credit expanded significantly in the fortnight ending June 30. Deposit growth also showed a healthy increase during the same period. This credit demand stems from both consumer and corporate sectors. Corporate entities are increasingly favoring banks over debt markets for funding. The gap between credit and deposit growth widened to 570 basis points.
Kotak Mahindra Bank plans to pursue acquisitions and organic growth. The bank recently acquired Deutsche Bank’s retail portfolio in India. This move aims to enhance scale and customer reach for the bank. Kotak Mahindra Bank will also tap into India’s economic expansion opportunities. A strong balance sheet and leadership talent support future growth strategies.
Indian equity indices saw a rise on Friday, boosted by information technology stocks. Tata Consultancy Services’ earnings met expectations, easing sector concerns which helped the market. The benchmark indices, however, finished the week marginally lower, ending a winning streak. Renewed West Asia tensions kept investor optimism in check earlier in the week. Brent crude futures…
Groww experienced a temporary disruption affecting client fund withdrawals on Friday. This incident was attributed to an issue with its cloud service provider, Google Cloud Platform. Some users also reported difficulties depositing money into their accounts. The brokerage stated the problem was promptly resolved before market closing. Customers could then access their funds after the…
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US markets ended higher with the S&P 500 near record levels, driven by SK Hynix’s strong Nasdaq debut and renewed momentum in AI-linked chip stocks. Investors remain cautious ahead of earnings season and inflation data, while geopolitical tensions and interest rate uncertainty continue to shape broader market sentiment.
Indian Bank has cancelled its planned share sale to raise funds. The lender’s expected credit loss impact is now estimated lower than previously calculated. This revised calculation means the bank will not need to raise additional capital. The bank’s net profit rose ten percent year-on-year in the fiscal first quarter. Gross advances and deposits also…
SK Hynix shares surged 14% in their Nasdaq debut after a $26.5 billion offering, highlighting strong investor demand for AI-linked chip stocks. The South Korean semiconductor giant aims to expand HBM chip production and AI infrastructure, while analysts monitor valuation concerns and risks of slowing AI spending.