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New Delhi, Dec 16 (PTI) The initial public offering of ICICI Prudential Asset Management Company Ltd, an arm of the ICICI Bank, received 39.17 times subscription on the final day of bidding on Tuesday, led by heavy demand from institutional buyers. The Rs 10,602.65-crore IPO received bids for 1,37,14,88,316 shares against 3,50,15,691 shares on offer, according to details available with the NSE. The Qualified Institutional Buyers (QIBs) category fetched 123.87 times subscription, while the quot ...Read More >
Mumbai: Mutual fund profitability could come under pressure with the size of assets under management growing, but a fall in unitholders' fees could compensate for this squeeze, said Nimesh Shah, MD and CEO of ICICI Prudential Asset Management Company, whose ₹10,600 crore Initial Public Offer (IPO) is open for subscription. The issue, which will close on December 16 (Tuesday), was subscribed 2.11 times on Monday-- the second day of the offer. "As the size of the fund grows, margins are coming do ...Read More >
Mumbai: Mutual funds, insurers, and banks have been stepping up investments in long-term corporate bonds issued by the Adani Group, which has raised around ₹13,750 crore over the past year across five of its companies, market data showed. The group's bond sales make up more than a tenth of all corporate bonds issued in India over the past one year. In the 12 months to October 2025, the group has tapped the domestic bond market 10 times, with five issuances carrying maturities of 10 years or mor ...Read More >
Indian Renewable Energy Development Agency (IREDA), the public sector power financier, on Tuesday posted a consolidated net profit of Rs 549.33 crore for Q2 FY26, up 41.5% year-on-year (YoY) from Rs 388 crore in the same quarter last year. Post earnings announcement, shares of the company rose 4% to the day's high of Rs 155.85 on the BSE. Revenue from operations rose 26.2% YoY to Rs 2,057 crore, compared with Rs 1,629.55 crore in Q2 FY25, the company said in an exchange filing. Asset quality ...Read More >
New Delhi: In a major development, Mukesh Ambani-led Reliance Group companies raised about 210 billion rupees ($2.4 billion) through asset-backed securities, according to a Bloomberg report quoting people familiar with the matter. It is important to note that this is one of the largest such deals in India this year. The report further adds that about three-fourths of the issuance was bought by the country's leading asset managers, including Aditya Birla Sun Life Asset Management Co., HDFC Asset ...Read More >
Jaipur, July 19 (SocialNews.XYZ) In a significant breakthrough, Rajasthan Police's CID Crime Branch has busted a major coal adulteration racket in Sirohi, exposing a scam worth crores of rupees. The gang was found mixing fake coal dust into high-quality petcoke imported from the US, causing massive financial losses to the cement and steel industries. Additional Director General of Police (Crime) Dinesh M.N. revealed that the racket involved a well-organised network operating from a rented, def ...Read More >
MUMBAI: The second largest private sector lender ICICI Bank has reported a street-beating 15.5 percent growth in its net profit to Rs 12,768.21 crore in the June quarter on better asset quality that brought down its provisions for bad loans. Insurance subsidiaries ICICI Prudential Life and ICICI Lombard General contributed positively to the overall performance, with the group's total capital employed rising to over Rs 3.29 trillion. The core net interest income of the bank increased 10.6 perce ...Read More >
New Delhi, July 18 (SocialNews.XYZ) The All India Football Federation have congratulated Inter Kashi on being adjudged the I-League Champions following the decision by the Court of Arbitration for Sport (CAS). CAS has partially upheld an appeal by Inter Kashi Football Club (Inter Kashi FC) against Churchill Brothers FC Goa, Namdhari FC, Real Kashmir FC, and AIFF. CAS has ruled that the AIFF shall declare Inter Kashi FC as winners of the I-League 2024-25. After an unsuccessful first procedure i ...Read More >
MUMBAI: Companies are lapping up the qualified institutional placements (QIPs) route -- the easiest and the shortest way to raise equity capital -- like there is no tomorrow. As many as 30 issuers -- led by the Rs 25,000-crore issue by SBI being the largest-ever issue in the history of India Inc -- have raised close to Rs 60,000 crore via this mode so far this year. In the whole of 2024, 95 issuers had collectively raised Rs 1.37 trillion. Of the total so far, more than half -- Rs 30,470 crore ...Read More >
The car had a Maharashtra number plate. Luggage was tied to the roof of the vehicle, which made officials believe that a family had come from Maharashtra to visit Agra. A shocking and heartbreaking incident has come to light from the Taj Mahal complex in Agra, Uttar Pradesh. An elderly man was found unconscious and tied inside a locked car parked near the western gate. The incident has raised serious questions about human sensitivity and responsibility. According to Aaj Tak, the man had been ...Read More >
Mumbai, Jul 18 (PTI) A three-storey chawl collapsed in the western suburb of Bandra here in the early hours of Friday, with at least 10 people feared trapped in the debris, civic officials said. As many as seven people have been rescued from the debris so far and admitted to the civic-run Bhabha Hospital, they said. Also Read | Stocks To Buy or Sell Today, July 18, 2025: Hitachi Energy India, NTPC, HCL Technologies Among Shares That May Remain in Focus on Friday. According to preliminary info ...Read More >
Mumbai: State Bank of India's (SBI) record ₹25,000-crore institutional share sale was bid more than four times the stock on offer, with marquee names such as the $11-trillion asset manager BlackRock Group and London hedge fund Marshall Wace joining the queue to buy into the mass lender's first such capital-raising in eight years, people familiar with the bids told ET. Against ₹25,000 crore of stock SBI offered in India's biggest qualified institutional placement (QIP) to date, the most-valued g ...Read More >
MUMBAI: State Bank of India's Rs 25,000 crore qualified institutional placement (QIP) has been oversubscribed by over three times, with investment bankers expecting bids to touch Rs 1 lakh crore.The Life Insurance Corporation of India and domestic mutual funds such as HDFC Life and ICICI Prudential Life were among the top investors who bid for the shares. Foreign investors included Nomura, Millennium, BlackRock, and British hedge fund Marshall Wace.Bankers said foreign investors view the State B ...Read More >
New Delhi [India], July 15 (ANI): In a major push to promote healthier lifestyles and combat the rise of obesity and Non-Communicable Diseases like diabetes and heart disease among others, the Union Health Ministry has proposed to prominently display boards indicating the amount of oil and sugar content in popular snacks, such as pizzas and burgers as well as samosas, vada paav, kachori among others, in schools, offices, institutions, Departments/Offices/autonomous bodies and organisations. Als ...Read More >
MUMBAI: Second largest private sector life insurer ICICI Prudential Life has reported a 34.2% on-year growth in net income at Rs 302 crore for the June quarter driven by lower new business strains and reduction in overall expenses. The new business received premium rose 6.4% to Rs 4,012 crore, while total premium collections increased 8.1% to Rs 8,954 crore. The life insurer saw a marginal decline in the value of new business (VNB) to Rs 457 crore from Rs 472 crore in Q1. However, the VNB marg ...Read More >
Kannur (Kerala) | Kerala General Education Minister V Sivankutty on Tuesday said that the government would not allow the "blending of religion with education" and reiterated that there would be no change in the revised school timings. Under the revised timetable, high school students (classes 8 to 10) will spend an extra 15 minutes in the morning and another 15 minutes in the afternoon on each working day except Fridays to help schools reach the required 1,100 instructional hours per year. How ...Read More >
New Delhi, Jul 15 (PTI) ICICI Prudential Life Insurance on Tuesday reported a 34 per cent growth in net profit at Rs 302 crore for the June quarter of 2025-26 fiscal. The private sector insurer had a net profit of Rs 225 crore in the April-June period of FY25. Net premium income of the insurance firm rose to Rs 8,503 crore at the end of June quarter of FY26, from Rs 7,875 crore in the corresponding period of FY25. Shares of ICICI Pru Life were trading at Rs 684.50 , up 1.76 per cent over prev ...Read More >
New Delhi, Jul 12 (PTI) Anthem Biosciences has raised Rs 1,016 crore from anchor investors ahead of its initial share-sale opening for public subscription. Some of the investors that participated in the anchor book are -- Abu Dhabi Investment Authority, Government Pension Fund Global, Eastspring Investments, Amundi Funds, PineBridge Global Funds and Societe Generale, HDFC MF (MF), ICICI Prudential MF, Axis MF, UTI MF, Quant MF and Motilal Oswal MF, according to a circular uploaded on BSE's webs ...Read More >
MUMBAI: Another large-size IPO is being planned in the current year. Prudential Corp of UK, the joint venture partner of ICICI Bank in ICICI Prudential Asset Management, is selling 10% stake in the company through an initial public offering that could be worth around Rs 10,000 crore. On Tuesday, the AMC had filed the papers with Sebi, ICICI Bank, the majority owner in the fund house, said on Wednesday.The current year has already seen two IPOs worth more than Rs 5,000 crore: HDB Financial Servic ...Read More >
New Delhi: Mining Major Vedanta Ltd plans to utilise Rs 5,000 crore raised through its unsecured non-convertible debenture (NCD) to retire high-cost debt, that will save an estimated Rs 350 crore in interest outgo, sources said.It will also use a part of the proceeds to fund its growth capex, sources added. Mining conglomerate Vedanta Ltd had last week said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The mining major plans to deploy funds fro ...Read More >
NEW DELHI (Reuters) - An Aviva business model that Indian tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows. Tax inspectors accuse the British insurer of engaging in a clandestine scheme involving hundreds of individuals and illegal payments of $26 million that used fake invoices to enable the commissions in excess of regulatory caps, Reuters has ...Read More >
NEW DELHI: Vishal Mega Mart, ahead of Initial Public Offer (IPO), has secured Rs 2,400 crore from anchor investors, as revealed in an exchange update. The anchor round allocation included prominent investors such as SBI Mutual Fund, Government of Singapore, Nomura Funds Ireland Public Ltd, Axis MF, HDFC MF and ICICI Prudential MF, as per BSE's website. The anchor portion saw participation from 18 domestic mutual funds through 44 schemes, comprising 53.33 per cent of the total. The company allo ...Read More >
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