News of Financial Services | Financial Institutes in Gujarat

BAJAJ FINANCE successfully closes QIP, raises 85 bln rupees, in 52 days

PUNE | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Pune headquartered Bajaj Finance Ltd said of successfully closing Qualified Institutions Placement raising 8,500 crore (~85 billion) rupees, in 52 days. In a press-statement as issued by the company to the Indian Bourses – titled, “Successful closure

EDELWEISS GROUP launches a completion financing platform for housing projects

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Mumbai headquartered financial services company Edelweiss Financial Services Ltd said of having launched a completion financing platform for housing projects for which the company has partnered with South Korean Financial Group Meritz for first fund targeted at US$ 425

SANAKA CAPITAL and other to invest upto US$ 75 mln (~5.25 bln INR) in EDELWEISS GROUP

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing as submitted to the Indian Stock Exchanges, Mumbai headquartered financial services providing company Edelweiss Financial Services Ltd said of Sanaka Capital and others will invest upto US$ 75 million (~5.25 billion INR) into Edelweiss Group. The press-communication as addressed by the company to the Indian

SECURA Insurance Upgrades MAJESCO Policy for P&C, Expands Additional Biz

MORRISTOWN (NEW JERSEY) – US | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release submitted to the Indian Stock Exchanges, Mumbai headquartered Information Technology sector company Majesco Ltd said of, US based SECURA Insurance having successfully upgraded to Majesco Policy software Version 10, for all property insurance and casualty insurance claims, as well

IDBI clarifies on social media rumours pertaining to bank finances

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Mumbai headquartered bank IDBI Bank Ltd said of having issued clarification in context to the rumours making rounds on social media regarding bank’s financial position. The regulatory update as submitted by the company to the Indian Bourses, read that,

SAKTHI SUGARS triggers one time settlement for dues with BANK OF INDIA

SAKTHINAGAR | COIMBATORE | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Coimbatore (Tamilandu) headquartered Sakthi Sugars Ltd said of having triggered one-time-settlement with Bank of India, agreeing to pay 1.5 billion (~150.43 crore) rupees against the outstanding dues of 2.34 billion (~233.78 crore) rupees. The company

IIFL WEALTH GROUP to acquire L&T FINANCE HOLDINGS’ wealth mgmt biz

MUMBAI | AHMEDABAD – GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered Indian infrastructure & financial services major L&T Finance Holdings Ltd said of its wealth management business being acquired by IIFL Wealth Group solely or jointly with a wholly owned subsidiary of IIFL Wealth Management Limited, for

BANDHAN BANK launched Credit Cards in partnership with STANCHAR

KOLKATA | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press-release submitted to the Indian Stock Exchanges, Kolkata headquartered bank Bandhan Bank Ltd said of having launched credit cards in partnership with Standard Chartered Bank. The press-release as addressed by the company to the Indian Bourses – titled, “Bandhan Bank launches credit cards, in partnership

M&M Financial Services acquired 58.20% stake in Sri Lankan Finance Company

COLOMBO (SRI LANKA) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered Indian Auto Major Mahindra & Mahindra Financial Services Ltd said of having acquired 58.20% stake of a finance company in Sri Lanka. The filing submitted by the company to the Indian Bourses and

YES Bank raised 19.3 bln rupees through Qualified Institutions Placement route

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory submission to the Indian Stock Exchanges, Mumbai headquartered Indian Banking major YES Bank Ltd said of having raised 19.3 billion (~1,930 crore) rupees through Qualified Institutions Placement (QIP) route. The press-statement submitted by the company to the Indian Bourses titled, “YES BANK raises Rs. 1,930 crores

PNB Housing raises USD $75 mln (~522 Cr INR) from Sumitomo Bank, Singapore

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, housing arm of Punjab National Bank – PNB Housing Finance Ltd raised USD $75 million as external commercial borrowings from Sumitomo Mitsui Banking Corp (SMBC) Singapore. In a company press release titled, “PNB Housing Finance raises

PNB Housing Finance rasies $100 million from IFC

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release submitted to the Indian Stock Exchanges, Indian Bank Punjab National Bank’s housing finance arm PNB Housing Finance Ltd said of having raised 6.9 billion rupees (~US Dollars ($) 100 million) from World Bank’s International Finance Corporation (IFC) to finance purchase of affordable

Two Austrain Banks go live with Intellect Design’s FinTech products

LONDON (UK) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release addressed to the Indian Stock Exchanges, Indian Information Technology company specializing in financial technology products – Intellect Design Arena Ltd said of two Raiffeisenlandesbanks having gone live with Intellect’s digital trade finance solution products. The press release submitted to the Indian Bourses

ADAG led Reliance Capital fully repays outstanding comm paper worth Rs.750 mln

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Stock Exchanges in India, Anil Dhirubhai Ambani led Reliance Capital Ltd said of having fully repaid its outstanding commercial papers worth Rs.75 Cr (~750 million) on July 24, 2019. The filing submitted to the Indian Bourses read that, the Company has fully repaid

KSIDC nominates Sanjay M Kaul (IAS) on Geojit Financial’s Board as Exe Dir

KOCHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory statement filed to the Indian Bourses, Geojit Financial Services Ltd said of Sanjay M Kaul, IAS being nominated by Kerala State Industrial Development Corporation (KSIDC) on the company’s board as Executive Director, replacing Dr. Sharmila Mary Joseph, IAS The filing read that, M/s Kerala State

HDFC Bank highest ranked Indian Co among Global Top 100, brand valued @ 15,74,436 Cr INR

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release issued by HDFC Bank Ltd, the communique claimed of HDFC Bank as highest-ranked Indian company in Global Top 100 and brand valued at $22.7 billion ($22,700 Cr ~ 15,744,362,693,169.70 INR ~ 15,74,436 Cr INR @ Exchange Rate of 1$ = 69.3584 INR), the company has

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