Suryoday Small Finance Bank Limited has raised Rs 160 crore in the last one week from existing and new investors, including TVS Capital. The Bank also said it will list the new Bank in the next three years.The fund raising will support company’s investment plan in technology and increase its networks. Of this, fund raising of Rs 100 crore was through a rights issue.Suryoday Small Finance Bank managing director and CEO, R Baskar Babu said existing investors including Sarva Capital, HDFC, IFC, IDFC Bank and others have participated in the fund raising.The new investor which came on board today was TVS Capital which invested Rs 60 crore for five per cent stake.Babu added that the Reserve Bank of India (RBI) has given a special approval for a few investors to hold over five per cent in Suryoday Small Finance Bank.The investors include Sarva Capital (which will hold 9.5 per cent), International Finance Corporation (6.8%).Post the issue, while promoter group shareholding will increase to …
It aims to attract more parcel with the increased e-commerce activities.
On Monday, India’s largest insurer will declare its quarterly results for first time
The ink wasn’t even dry on the stunning deal that made Magic Johnson the Lakers’ new president of basketball operations when reporters, pundits and talking heads threw up their hot takes about how this will end in disaster for Los Angeles. Cartoon by Rob Tornoe.
John Stumpf won’t be the only person to lose his job over the phony account scandal that rocked Wells Fargo’s reputation: four senior managers have also been fired in connection to the fraudulent sales practices that resulted in the creation of two million unauthorized bank and credit card accounts.
A RECENT ruling by the Sixth Circuit Court of Appeals in Ohio could set up the first major religious-liberty case Neil Gorsuch may help resolve if the Senate confirms his nomination to the Supreme Court this spring. The Sixth Circuit case concerns a dispute over legislative prayer, a topic Mr Gorsuch has never weighed in on.