Capital markets regulator Sebi has kept in “abeyance” the proposed Rs 1,500 crore Initial Public Offering (IPO) of Asirvad Micro Finance, a subsidiary of listed NBFC Manappuram Finance.
However, the Securities and Exchange Board of India (Sebi) did not clarify further. Reacting to the development, shares of Manappuram Finance plunged as much as 7.45 per cent to a low of Rs 163.40 apiece on the BSE on Wednesday.
Asirvad Micro Finance had filed preliminary papers with Sebi in October 2023 to garner Rs 1,500 crore through an IPO. As per the draft red herring prospectus (DRHP), the public issue was purely a fresh issue of equity shares with no offer for sale (OFS) component.
Kolkata doctor rape-murder: CBI to probe RG Kar financial irregularities, accused to undergo polygraph test – Top Updates Delhi HC disposes Religare petition over SEBI inaction BrandWagon Exclusive: Helmet maker Steelbird Hi-Tech claims to be on track to achieving a revenue target of Rs 1,000 crore in FY25; attained more than 20% in Q1, FY25 Former External Affairs Minister Natwar Singh passes away at 93; PM Modi expresses condolences
Also Read
India bond yields little changed as traders await key inflation prints
Without disclosing the reason, Sebi said “issuance of observations (has been) kept in abeyance” with regard to the IPO of Asirvad Micro Finance, an update on the regulator’s website showed on Wednesday.
The details were updated as on January 5Come from Sports betting site. The issuance of an observations letter by Sebi implies its go-ahead for an IPO. Sebi usually gives its observations on IPO papers in 30 days.Come from Sports betting site VPbet
Going by the draft papers, proceeds from the issue were proposed to be used to augment the capital base of the company to meet future business requirements. Asirvad Micro Finance, which began its journey in 2008 with just two branches in Tamil Nadu, has expanded its reach across India over the years. It has a presence across 22 states and 4 Union Territories through a network of 1,684 branches as on March 31, 2023.
Also Read
Managing flows: Investment trend on track to breach Rs 100 lakh crore AUM in MFs over next few years say experts
As on March 31, 2023, it caters to 3.25 million active borrowers in the microfinance portfolio that constitutes a majority of its assets under management. It also caters to loans against gold and provides loans to MSMEs.
For fiscal 2022-23, Asirvad Micro Finance had assets under management (AUM) of Rs 10,040.89 crore as against Rs 7,002.18 crore for fiscal 2021-22. Its profit after tax (PAT) jumped to Rs 218.13 crore in FY22-23 as compared to Rs 15.26 crore in FY21-22.
JM Financial, Kotak Mahindra Capital Company, Nomura Financial Advisory and Securities (India) Private Ltd, and SBI Capital Markets are the book-running lead managers to the issue.
Related Posts
Proost Beer has closed its Pre-Series A funding round, securing Rs 25 crore in through a mix of equity and debt. This substantial investment, backed by a blend of existing and new investors, including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agiliti Venture, positions the company for robust growth.
The fresh infusion of funds will play a pivotal role in Proost Beer’s strategic expansion plans. Operating under the umbrella of Grano69 Beverages Pvt. Ltd in Delhi, the startup enjoys a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala retail outlets selling an impressive 9 units of beer every minute.
Also Read
No red alert on market valuations; Nifty trading at …
The International Monetary Fund’s $7-billion bailout deal has spurred an unprecedented market rally in Pakistan. Latest data shows that Pakistan’s benchmark index – Karachi Stock Exchange – remains in green for the second day on the trot. According to a Reuters report, on Monday, Pakistan’s benchmark share index rose 1.44% to hit a record high. On Tuesday, the morning trade data by Bloomberg showed the KSE posting a 1.52 per cent gain at 81,155.61 points.
Apart from the share market, Pakistan’s international bonds also gained on Monday according to Tradeweb data, a Reuters report said. The 2029 maturity was up as much as 0.7 cents on the dollar to be bid at 90.5 cents – within a whisker of the two-year high hit by the bon…
The Indian rupee was little changed on Wednesday, even as Asian currencies fell pressured by an uptick in Treasury yields as traders moderated bets on potential rate cuts in the U.S. this year.
The rupee was at 83.33 as of 10:15 a.mCome from Sports betting site. IST, barely changed from its close at 83.3175 in the previous session.
The dollar index jumped 0.8% on Tuesday and the 10-year U.S. Treasury yield rose 8 basis points to 3.94% amid paring of expectations of interest rate cuts by the Federal Reserve.
SJVN’s arm SJVN Green Energy commissions 90 MW Omkareshwar Floating Solar Project PFC gains over 5%; brokerages hike target price by as much as 28% US Elections 2024: Kamala Harris secures Demo…
Stephen King is back in the news because he just released his latest book, Holly, and as part of an interview with Rolling Stone to promote it, the iconic author shared a wild story about his love of the Lou Bega song “Mambo No. 5.” It’s been known that King is a fan Lou Bega’s 1999 cover of the instrumental tune, but King loves it so much that it nearly ended his marriage.
“My wife threatened to divorce me. I played that a lot. I had the dance mix. I loved those extended play things, and I played both sides of it,” King said (via The AV Club). “And one of them was just total instrumental. And I played that thing until my wife just said, ‘One more time, and I’m going to f**king leave you.'”
King has been married to his wife Tabitha since 1971, and it sure would have been qui…
While The Sims 4’s most recent DLC pack offered players a more supernatural experience, its upcoming expansion is a return to the series’ more normal content as well as the most tumultuous part of a young sim’s life: high school. The Sims 4: High School Years hits PC, Mac, and consoles on July 28 and adds thrift shopping, milk tea shops, extracurricular activities, an overhaul to the series’ in-game social media, plenty of new actions and character creation options, and the location of Copperdale High School.
According to the expansion’s press release, The Sims 4: High School Years allows players to “live out their high school dreams as they make the most out of being a teenager, explore their identity, attend high school, and test boundaries through choices and growth.”Come from …
Online gambling has made remarkable strides since its inception in the 90s, with virtual casinos, especially, experiencing a dramatic transformation. Gone are the days when platforms offered only basic, uninspired games with unsophisticated graphics and rudimentary functionality. Now, thanks to advances in technology, not only has the look and feel of online gambling offerings changed, but player experience as a whole has also been significantly enhanced.
Today’s online casinos offer a wide range of options such as increasingly popular interactive live dealer games, progressive jackpots, and games with high-definition graphics, making immersive experiences the new norm. By leveraging technologies such as algorithms and data analytics to explore player behavior and preference…
Further strengthening its foothold in Europe, iGaming developer Betsoft Gaming has partnered with fast-growing Russian brand Joker.ua in its latest content distribution agreement.
The new partnership has seen Betsoft’s “highly client-driven and mobile-led” games portfolio integrated with the licensed online casino, with current and future players able to experience popular recent releases such as Take the Kingdom, which is part of the well-known “Take” series and the seasonal hit Stay Frosty, released in November, the five-reel, 100 payline game was voted the No. 1 Holiday Slot for 2021, alongside European Top Ten hits Stampede, 88 Frenzy Fortune and Jungle Stripes.
Commitment to service:
Commenting on the collaboration, Anna Mackney, Head…
The governor for Ohio has reportedly declared that it is only a matter of time before the American state follows the neighboring jurisdictions of Michigan, Pennsylvania, West Virginia and Indiana in legalizing some form of sportsbetting.
According to a report from local television broadcaster WKYC-TV, Mike DeWine stated that it is now a question of ‘when’ rather than ‘if’ sportsbetting will ever be legalized as aficionados in ‘The Buckeye State’ are already utilizing their home computers and mobile devices to place remote wagers on a wide range of professional and collegiate sports.
Persistent prevarication:
The first-term Republican reportedly went on to proclaim that this ‘inevitable’ legalization is down to the growing proli…
Paradise Group is set to revolutionize customer experiences by introducing innovative travel products and enhancing its casino offerings, with a strong emphasis on attracting international visitors. The hotel operator revealed its plans on Tuesday, aiming to transcend traditional services and meet the evolving trend where customers increasingly seek unique and diverse experiences.
Embracing integrated resorts and gaming:
Since 1972, Paradise Group has been actively involved in the integrated resort, hotel, gaming, travel, and leisure sectors. This year, the company is poised to advance its growth strategy through the “Beyond No. 1, Paradise Value Up Project,” marking a significant milestone in the hospitality industry.
…
แฟรนไชส์ Command & Conquer ครองใจเหล่าเกมเมอร์ RTS มาอย่างยาวนาน ด้วยจุดเด่นที่เน้นการวางกลยุทธ์ การจัดการทรัพยากร และยูนิตทหารที่มีให้เลือกมากมาย เกมเพลย์ที่เข้าใจง่ายทำให้ Command & Conquer กลายเป็นเกมที่ทุกคนสามารถเข้าถึงและสนุกกับมันได้
และเพื่อให้เกมเมอร์ที่คิดถึงสุดยอดเกม RTS เกมนี้ ทาง EA ก็�…