The Board of Directors of Aditya Birla Capital Limited, in a decision made on March 11, has greenlit the amalgamation of its wholly-owned subsidiary, Aditya Birla Finance Ltd., with itself. The aim is to form a unified, large operating Non-Banking Financial Company (NBFC). This move is contingent upon regulatory approvals, as stated in an exchange…
SEBI has prohibited JM Financial from serving as a lead manager for any public offering of debt securities, following recent actions by the Reserve Bank of India (RBI) restricting JM Financial Products from IPO financing and financing against shares. The capital markets regulator cited alleged practices by JM Financial that undermine market orderliness and harm…
Shares of IIFL Finance, a prominent non-banking financial company (NBFC) specializing in retail credit, surged by 10% during today’s trading session, reaching Rs 420.40 per share. This increase follows the announcement that Canadian billionaire Prem Watsa has committed to providing $200 million in liquidity support to the company, should it encounter any funding challenges after…
The Indian rupee has surged to its highest level in six months, reaching 82.72 against the US dollar. This upward trend marks India’s currency as the best performer in Asia this year. The momentum continues as foreign investors maintain their interest in local bonds ahead of India’s inclusion into global debt indexes. A decline in…
