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Ahmedabad: With a fast-rising presence of IFSC banking units (IBUs) in GIFT IFSC, the size of the banking assets has increased sevenfold in five years, according to data by GIFT City. The country's first International Financial Services Centre at Gujarat International Finance Tec-City (GIFT City) saw banking assets crossing $106.7 billion as of Feb 2026, marking a sevenfold jump from $14 billion in Sep 2020.A key infrastructure boost came with the launch of the foreign currency settlement system ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase ...Read More >
Gandhinagar (Gujarat) [India], April 2 (ANI): GIFT City's insurance and reinsurance ecosystem has witnessed rapid expansion, with premium volumes growing from USD 102 million in 2020 to over USD 1.2 billion by 2025, marking an over 11-fold increase in the past five years and signalling a strong scale-up of India-linked risk underwriting within the International Financial Services Centre (IFSC). According to GIFT city press release, "The growth in premiums has been supported by a steady increase ...Read More >
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: Thanks to sharp corrections in price of silver recently, the price of exchange traded funds (ETFs) units on the white metal on domestic bourses have started trading at substantial discounts to spot prices. ETF rates are now down about 15-25% from their respective peaks recorded last week.Consider this: Silver BEES ETF, one of the biggest ETFs on the white metal in India was down 2.3% at Rs 142 on Thursday and was down 21% from its all-time peak of Rs 180. ICICI Prudential Silver ETF, ano ...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, Jul 9 (PTI) Paints major Asian Paints on Wednesday exited Dulux paint-maker Akzo Nobel India by selling its entire 4.42 per cent stake in the company for Rs 734 crore through an open market transaction. In a regulatory filing on Wednesday, Asian Paints said it "has sold its entire holding of 20,10,626 equity shares in Akzo Nobel India Ltd, representing 4.42 per cent of its paid-up share capital". The sale was executed at Rs 3,651 per share through the bulk deal mechanism, it added. ...Read More >
New Delhi: Supermarket chain Vishal Mega Mart has mobilised Rs 2,400 crore from anchor investors, an update with the exchange showed. Those who were allotted shares in the anchor round included SBI Mutual Fund, Government of Singapore, Nomura Funds Ireland Public Ltd, Axis Mutual Fund (MF), HDFC MF and ICICI Prudential MF, according to a circular uploaded on BSE's website. Overall, a total of 18 domestic mutual funds participated through 44 schemes, collectively accounting for 53.33 per cent o ...Read More >
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