IFC to invest up to Rs. 1000 Crore in Bajaj Finance via NCDs

The private lending arm of the World Bank, IFC (International Finance Corporation), is looking to invest up to 1,000 Cr (Approx) in Bajaj Finance Ltd, as per announcement by IFC. The International Finance Corpn will buy Bajaj Finance’s non-convertible debentures (NCDs), and the proceeds of the fund-raising will be utilized to lend to micro small & medium enterprises. The proposals are part of IFC’s strategic target to finance 10 million micro small and medium enterprises during the fiscal 2017-21. Earlier, In July 2016, Bajaj Finance had raised Rs. 490.00 crore by selling NCDs on a privat...
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HUDCO IPO subscribed by 93% and may achieve full subscription today

State-owned Housing & Urban Development Corporation Ltd (HUDCO) on Tuesday, 9 May 2017, witnessed its IPO subscribed 93%, as per data from stock exchanges. The offer has issue size of 20,40,58,747 shares, and the share sale will be closed on 11 May. The total bids obtained by the HUDCO’s IPO figures at 19,00,31,800, while the total bids received at cut-off prices stands at 13,35,00,000. The reported subscription of qualified institutional buyers is 8%, Non-institutional investors 11%, Retail investors reported 93% and company employees reported 1% in the late morning hours. The offer is f...
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SREI Infrastructure Finance declines on profit booking

Stocks of SREI Infrastructure Finance fell 2.1% to Rs 102.50 at the lunch hours on BSE, on profit booking. The stock had hit a high and a low of Rs 105.70 and Rs 102.40 respectively, during the day. The stock had outperformed the market since the past one month till 4 May 2017, rising 21.96% compared with the Sensex's 0.72% rise. SREI is a mid-cap company, having equity capital of Rs. 503.09 crore, with face value of Rs. 10, per share. The company’s consolidated net profit surged 291.7% to Rs 67.21 Cr, on 43% rise in total income to Rs. 1,134.57 crore in third quarter December 2016 Y-O-Y.
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Gail India Touches 0.64% in an early trade today

The share price of Gail (India) Ltd touched 0.64% in an early trade today and is being traded at Rs. 424 in an intraday basis. The share price touched fresh 52-week high at Rs 426.45 on Monday, after winning orders from Kerala. The company has obtained contracts for pipeline laying works valued Rs 200 crore. The company will work on Kochi-Mangaluru pipeline in Kerala for another 131 km section from Areecode to Kurumathoor. The end to end construction in works of the Kochi- Kuttanad-Mangaluru pipeline in the 91 km Kochi-Kuttanad section as well as in the 105 km Perole -Mangaluru section is al...
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