Author: Chahat Saini

Five Star Business Finance, a non-bank lender, announced on Friday that it had set a price range for its Rs 1,960 million initial public offerings (IPO) of Rs 450-474 per equity share. The non-banking financial company (NBFC) with its headquarters in Chennai will hold a three-day public subscription period for its initial share sale from November 9 to 11. According to the company’s statement, bidding for anchor investors will begin on November 7. Existing shareholders and promoter group entities are the sole participants in the IPO, which is entirely an offer for sale (OFS) of shares for Rs 1,960 crore.…

IPO of NBFC Five Star Business Finance will Go Live

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As the country enters the 5G era, telecom equipment manufacturer HFCL Limited stated that it had received approval to utilise an incentive of up to Rs 652.79 crore as part of the government’s PLI program.As the country enters the 5G era, telecom equipment manufacturer HFCL Limited announced on Tuesday that it had received approval to apply for an incentive of up to Rs 652.79 crore as part of the government’s production-linked incentive (PLI) scheme. On its application to participate in the PLI program, HFCL has received approval from the Small Industries Development Bank of India (SIDBI), Project Management Agency (PMA),…

Aditya Birla Housing Finance’s Net Profit Rises

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The bank with its headquarters in Kolkata had reported a net loss of Rs 3,008.60 crore in the previous year’s same quarter. Due to a decrease in bad loans, private sector lender Bandhan Bank reported a net profit of Rs 209.30 crore for the September 2022 quarter. The bank with its headquarters in Kolkata had reported a net loss of Rs 3,008.60 crore in the previous year’s same quarter. According to a regulatory filing, Bandhan Bank’s total income increased by 8.5% between July and September 2022-23 to Rs 2,669.4 crore, up from Rs 2,459.9 crore during the same time period…

Even though a large financial system is bound to receive some complaints, the majority of them are about traditional banking, which is concerning. According to Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday, the use of technology has increased the efficiency of financial institutions, but it has also led to the backdoor entry of unregulated players into the financial sector who frequently violate regulations. Das stated at the annual conference of the RBI ombudsman in Jodhpur, “This leads to several concerns including mis-selling, breach of customer privacy, unfair business conduct, usurious interest rates, and unethical loan recovery practices.”…

Following a number of legacy compliance and risk management failures, most notably the Archegos hedge fund scandal, Credit Suisse has been plagued by sluggish investment banking revenues, losses relating to its business in Russia, and litigation costs. Analysts had predicted a loss of 567.93 million Swiss francs for the troubled lender’s third-quarter net loss of 4.034 billion francs ($4.09 billion). The profit for the same quarter last year, which was 434 million Swiss francs, is also significantly lower than this one. After the Swiss bank reported a quarterly loss that was significantly worse than analyst estimates and announced a significant…

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