Showing posts from August, 2023

LIC celebrates its remarkable -67th Anniversary with outstanding performance.

LIC, India’s leading life Insurance company, is pleased to announce its remarkable 67 th  anniversary, symbolizing decades of trust, integrity and excellence in the Insurance industry. As we reflect on our journey, we take immense pride in the outstanding performance showcased in the past. ·         Sustained leadership position after twenty-plus years of liberalization of insurance sector with 62.58% market share in First Year Premium Income in FY23. ·         Massive distribution network spread across India positioned for further growth. ·         LIC continues to play a strategic role in inculcating a culture of insurance and savings across India. ·         Total 27.74 crore policies being serviced by LIC as on 31 st  March 2023.   LIC has floated a Special Revival Campaign for lapsed policies with effect from 01.09.2023 for its valued policyholders. With a legacy spanning over Six decades,  LIC has witnessed tremendous growth and emerged as a key player in the Indian Insurance Mark

Aeroflex Industries debuts at 83% premium; closes at 163 per share

Mumbai, August 31, 2023:   Aeroflex Industries Limited (‘Aeroflex” or “the Company”) is a manufacturer of environment friendly Metallic Flexible Flow Solution products, catering to global markets and exporting its products to more than 80 countries including Europe, USA and others, generating more than 80% of its revenue from exports   makes a strong debut at 83% premium on the exchanges to close over Rs 163 per share. The scrip listed at Rs 197.40 per share on BSE, a premium of 82.78% and at Rs 190 per share on NSE, a premium of 75.93%.  The company's share price closed at Rs 163.15 per share on the BSE, an 51.06% premium, and at Rs 163.60 per share on the NSE, an 51.48% premium. As per NSE, the total quantity traded stood at 360.98 lakh shares, on BSE the total Quantity stood at 33.15 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 694.75 crore. The Market Capitalization of the Company at today’s closing price stood at Rs. 2109.86 Crore as per BSE and Rs. 2115.68 Crore

Renault Nissan Automotive India Pvt Ltd (RNAIPL) completes 15 years from foundation

  ·         The Chennai-based manufacturing plant has crossed several historical milestones including manufacturing more than 2.5 million vehicles ·         Strong contribution to local economy with more than 1.15 million vehicles exported to over 108 destinations ·         Committed to sustainable operations with progress on 2045 Carbon Neutrality goal ·         CSR initiatives supporting local communities reaching more than 100,000 people Chennai, 31 August 2023 - On August 26,   2008, the foundation stone for what would eventually become the state-of-the-art manufacturing facility of Renault Nissan Automotive India Pvt Ltd (RNAIPL) was placed in the rapidly developing automotive cluster of Oragadam on the outskirts of Chennai. Fast forward 15 years and RNAIPL has now established itself as a leading automotive manufacturer having produced over 2.5 million Renault and Nissan cars in India for domestic and export markets. The plant is also set to continue its exciting journey as it loo

Hyderabad based Bondada Engineering’s SME IPO debuts at 90% premium

Mumbai, August 30, 2023:   Hyderabad based infrastructure player Bondada Engineering Limited, engaged in the business of providing engineering, procurement and construction (“EPC”) services and operations and maintenance (“O&M”) services to its pan India customers operating in telecom and solar energy industry   debuts on the exchanges at 90% premium.   The company's share price closed at Rs 149.62 per share on the BSE SME, a 99.49% premium.  As per BSE SME, the total quantity traded stood at 18.75 lakh shares. Total Turnover at BSE SME on Day 1 stood at Rs 27.50 crore.   Mr. Raghavendra Rao Bondada, Chairman and Managing Director - Bondada Engineering Limited , said "   I extend my heartfelt gratitude to each of you for your unwavering support and trust in Bondada Engineering. Your investments will be crucial in propelling our success, and we are deeply appreciative of the confidence you've shown in our vision. Your partnership fuels our drive for excellence, and we r

Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Limited) announces public issue of secured redeemable non-convertible debentures (“NCDs”) aggregating up to INR 1500 million

Effective Yield of up to 10.46 % per annum* Credit   Rating:   “CRISIL   AA-/Negative” by CRISIL Ratings Limited (“ CRISIL ”) and “[ICRA] A+ (Stable)” by ICRA Limited (“ ICRA ”) Trading in dematerialized form only Allotment on a date priority basis, i.e., on a first-come, first -serve basis, based on the date of upload of each application into   the electronic system of the Stock Exchange, in each Portion subject to the Allocation   Ratio. Mumbai, August 29, 2023:  Nido Home Finance Limited ( formerly known as Edelweiss Housing Finance Limited ) (“ Nido ”/” Company ”) announced the public issue of NCDs of face value ₹1000 each, amounting to ₹ 750  million (INR 75 cr) (“ Base Issue Size ”), with a green shoe option of up to ₹ 750 million (INR 75 cr)  aggregating to ₹ 1500 million. (INR 150 cr). There are ten series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options. Effective yield f

FIDC Announces Appointment of Mr. Umesh Revankar as New Chairman

  Assumes Chairmanship for a 2-year Term Commencing 23 rd  August, 2023 Mumbai, 28th August, 2023:  The Finance Industry Development Council (FIDC), the representative body of asset and loan financing of the NBFCs in India, has appointed Mr. Umesh Revankar as its new Chairman. The managing committee elected Mr. Revankar unanimously in a meeting convened in Mumbai. He currently holds the position of Executive Vice Chairman for Shriram Finance Ltd., and brings with him decades of experience and expertise in the financial services industry. Mr. Umesh Revankar, the newly elected Chairman of FIDC, expressed his gratitude and enthusiasm for the opportunity. He stated, “It’s an honor to assume the role of Chairman at FIDC, an organization that plays a crucial role in shaping the financial services landscape of our country. I look forward to partnering with members and the community and contribute to the industry's growth and development during my tenure. FIDC’s commitment to fostering col

Dr. Shuchin Bajaj of Ujala Cygnus Healthcare wins the prestigious 14th Social Entrepreneur of the Year (SEOY) Award - India 2023,

  Presented by Mr. Amitabh Kant, G-20 Sherpa, Government of India INDIA-August 28, 2023:  The Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum today conferred  Dr. Shuchin Bajaj of Ujala Cygnus Healthcare  with the prestigious 14 th  Social Entrepreneur of the Year Award - India 2023. The award was presented by Mr. Amitabh Kant, G-20 Sherpa, Congratulating Government of India, at a grand ceremony in the presence of eminent personalities. Mr. Amitabh Kant, G-20 Sherpa, Government of India, said,   “ I have great admiration for the Schwab Foundation for Social Entrepreneurship, World Economic Forum and the Jubilant  the winner and finalists and lauding the work of social entrepreneurs worldwide,  Bhartia Foundation for consistently supporting social entrepreneurship and social innovation. We must recognise the transformative power of social economy. This platform of social entrepreneurship has been grea

Vishnu Prakash R Punglia Ltd IPO subscribed 10.63 times on Day 2

Initial Public Offering of  Jodhpur-based Vishnu Prakash R Punglia Limited is an integrated Engineering, Procurement and Construction (“EPC”) company, which specializes in water supply projects (WSP)  was subscribed 10.63 times  on the second day of bidding. The issue  received bids of 23,30,69,850 shares against the offered 2,19,30,000 equity shares, at a price band of ₹94-99, according to the data available on the stock exchanges. Non-Institutional Investors Portion was the most subscribed with 19.39 times, followed by Retail with 12.88 times. Employee Section was subscribed 5.69 times, whereas Qualified Institutional Buyer Portion was subscribed 0.35 times. The  issue kicked off for subscription on Thursday, August 24, 2023 and will close on Monday, August 28, 2023. A day prior to the opening of the issue, Vishnu Prakash R Punglia Ltd had raised Rs 91.77 crore from anchor investors. Foreign Investors and Domestic Institutions who participated in the anchor were Quant Mutual Fund, Ko