Finance / Insurance (21 unread)
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Lanco Infratech to raise $750 mn by selling minor stake in its power business.
Posted: February 14th, 2012, 5:54am EST
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Lanco has mandated Macquarie to raise about $600-$750 million equity from private equity companies or strategic investors by the first quarter of 2012-13 -
Muthoot Finance to raise Rs 500-cr via public issue of NCDs
Posted: February 13th, 2012, 9:12am EST
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Muthoot Finance Ltd said it has filed a draft prospectus with BSE Ltd for a public issue of secured non-convertible debentures of face value of Rs 1,000 each. -
Not taken any deposit from public since March 2011: Manappuram Finance
Posted: February 13th, 2012, 4:17am EST
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Manappuram said it has not accepted any deposits from the public since March last year and it will take necessary measures to address RBI concerns. -
AI debt recast:Federal doesn't see much impact on balancesheet
Posted: February 12th, 2012, 1:12am EST
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Kochi-based private sector lender Federal Bank doesn't fear much impact on its balancesheet due to the proposed debt restructuring of Air India. -
Minority investors lose as Akzo Nobel Coatings, Akzo Nobel Car Refinishes and Akzo Nobel Chemicals merger gets requisite majority
Posted: February 10th, 2012, 3:23pm EST
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UTI decided to abstain from voting on the crucial resolution in the Akzo Nobel shareholders meet, enabling the company win approval for its controversial merger. -
L&T Insurance ties-up with VimmoSEWA for micro insurance
Posted: February 9th, 2012, 12:30pm EST
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L&T Insurance, a subsidiary of engineering major Larsen and Toubro, today announced its foray into micro insurance segment through a strategic tie-up with the VimmoSewa in Gujarat. -
Icra places Mannapuram debt instruments onwatch
Posted: February 9th, 2012, 5:36am EST
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Icra has placed on watch with developing implications -debt instruments raised by MFIN; follows RBI's observations with respect to acceptance of deposits by the co. -
Manappuram Finance plunges 20%; corporate governance in question
Posted: February 7th, 2012, 3:02pm EST
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Manappuram, the second-biggest lender against gold, plunged 19.96% as investors worried about its ability to continue sourcing funds. -
ICICI Securities launches new advisory products
Posted: February 7th, 2012, 11:42am EST
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Leading integrated securities firm ICICI Securities announced the launch of a complete bouquet of financial planning services across the country. -
Basix seeks Rs 800 cr CDR, Rs 500 cr in fresh funding
Posted: February 7th, 2012, 11:29am EST
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Basix said that it has formally approached its principal lender Sidbi with an Rs 800-cr debt recast proposal and expects the plan to be ready early next month. -
RBI bans Manappuram Finance, Manappuram Agro Farms from taking public deposits
Posted: February 6th, 2012, 4:09pm EST
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RBI has banned Manappuram's and an unlisted group company from taking public deposits as it is a violation of rules governing its licence. -
Manappuram Finance can't accept deposits: RBI
Posted: February 6th, 2012, 9:09am EST
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Manappuram Finance Ltd , which provides loans using gold as collateral, is not allowed to accept or renew deposits from the public, the Reserve Bank of India said. -
Power Finance Corporation to raise Rs 40,000 crore in 2012-13
Posted: February 6th, 2012, 8:23am EST
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State-run lender Power Finance Corporation aims to raise Rs 40,000 crore in 2012-13 and is scouting for a partner for its subsidiary PFC Consulting's global foray. -
SKS Microfinance securitises Rs 243 cr of receivables
Posted: February 6th, 2012, 6:06am EST
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The news gave a fillip to the stock of SKS and pushed it up nearly 10 per cent to the upper circuit at Rs 98.20 on Bombay Stock exchange today. -
Halcyon Finance buys superspecialty hospital rights for Rs 375 cr
Posted: February 5th, 2012, 5:36pm EST
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Abhay Soi-led Halcyon Finance and Capital Advisors bought the rights through its healthcare arm, Radiant Life Care Pvt Ltd, for 30 years, it said in a release. -
Investment bankers use the downturn to prepare next big move; unwind with families
Posted: February 5th, 2012, 2:06pm EST
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In Mumbai, there are at least a dozen top i-bankers who have moved out of high-profile roles over the past few months & are waiting for the right calling.
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Finance companies rush to raise money from the bond market
Posted: February 3rd, 2012, 11:28am EST
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Companies like IDFC, Sidbi, Nabard and National Housing Bank (NHB) tapped the private placement market to raise short to medium term bonds. -
RBI may consider paring 40% priority sector target for commercial banks
Posted: February 2nd, 2012, 6:14pm EST
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RBI may consider paring the 40% priority sector target for commercial banks. However, banks may have to lend more to the micro, SMEs and weaker sections. -
2G case: SBI has Rs 4,500 crore exposure in telecos hit by SC ruling, Santosh Nair
Posted: February 2nd, 2012, 8:23am EST
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Country's largest lender State Bank of India (SBI) today said it has an exposure of Rs 4,500 crore in the telecom companies whose licences have been cancelled by the Supreme Court in connection with 2 G scam. -
Query corner: Banking and finance
Posted: February 1st, 2012, 7:08pm EST
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Govt approved a scheme to provide full interest subsidy during the period of moratorium on loans taken by students whose parents' income does not exceed Rs 4.5 lac. -
Ujjivan raises $25 million in equity financing
Posted: February 1st, 2012, 9:12am EST
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Ujjivan Financial Services raised Rs 127.9 crore in its fifth round of equity financing, the Bangalore-based microfinance company announced on Wednesday.