Thursday, October 01
Zerodha co-founders and prominent figures in India’s financial services landscape, Nikhil Kamath and Nithin Kamath, have acquired a minority stake in InCred Holdings through an investment of Rs 250 crore, ahead of the company's anticipated public offering.The investment has been made in InCred Holdings Ltd, the parent company of InCred Financial Services Ltd (IFSL), a technology-driven Non-Banking Financial Company (NBFC) with operations across the consumer, SME, and education lending segments. Kamath brothers expressed confidence in the evolving dynamics of India’s credit sector. Commenting on the investment, Nikhil Kamath said, “India’s credit ecosystem is changing fast—more formal, more digital, and more accessible.” “InCred Group seems to get that. They’ve built a stron
Aggregate net profit for banks grew in single digit year-on-year in the March 2025 quarter for the first time in four years or 17 quarters led by lacklustre performance of private sector banks and lower profit reported by State Bank of India (SBI) amid single digit growth in net interest income and continued pressure on margins. RBI’s initiative to pump additional liquidity into the banking system from September and reduction in interest rates is expected to reduce pressure on margins in the coming quarters thereby supporting the bottom lines of banks.For a sample of 29 banks, net profit rose by 4.9% year-on-year to Rs 93,828.3 crore. The government owned SBI, the country’s largest bank, reported a 9.9% drop in net profit at Rs 18,642.6 crore. Its share was 20% in the sample’s aggreg
Shares of BSE Ltd and InterGlobe Aviation, the parent company of IndiGo, may be poised to join the Nifty 50 index in the upcoming reshuffle, according to a report by CNBC-TV18, citing sources familiar with the matter. IndusInd Bank and Hero MotoCorp are among the names that could potentially be removed from the benchmark index in the next review, the report added.The changes are part of the semi-annual review of the Nifty 50 index, which is expected to take place in August, with the revised composition likely to take effect from September.BSE is likely to meet all eligibility norms, including listing and trading requirements, despite being listed only on the National Stock Exchange (NSE). Inclusion in the Nifty 50 is typically determined by factors such as average free-float market capital
Indogulf Cropsciences has announced that its initial public offering (IPO) will open for subscription on Thursday, June 26, and close on Monday, June 30. The price band for the offer is fixed at Rs 105 to Rs 111 per equity share, each with a face value of Rs 10.Investors can bid for a minimum of 135 equity shares and in multiples thereafter.The IPO comprises a fresh issue of equity shares worth Rs 160 crore and an offer for sale (OFS) of up to 36,03,603 shares—including 15,40,960 shares by Om Prakash Aggarwal (HUF) and 20,62,643 shares by Sanjay Aggarwal (HUF).Indogulf plans to utilise Rs 65 crore from the fresh issue proceeds to meet working capital requirements, Rs 34.12 crore to repay or prepay certain outstanding borrowings, and Rs 14 crore towards capital expenditure for setting up
