Tag Archives: bank

Ujjivan Small Finance Bank IPO over 40% subscribed in 2 hours: Key things to know

The IPO of Ujjivan Small Finance Bank opened today for subscription and the lender is looking to raise ₹750 crore through this issue. The bank has set a price band of ₹36-37 per share and the issue closes on Wednesday. The bank will utilise the proceeds of IPO for increasing its Tier-1 capital base to meet its future capital requirements and towards meeting the ... Read More »

Ujjivan Small Finance Bank raises capital in pre-IPO round

MUMBAI : Ujjivan Small Finance Bank has raised ₹250 crore in a pre-initial public offering (IPO) round led by India Infoline (IIFL) group’s funds, a private equity fund of Avendus Capital and Akash Bhanshali of Enam Group. The pre-IPO round closed on Wednesday. The lender’s filings with the registrar of companies (RoC) shows that funds managed by IIFL invested around ₹136 crore in the pre-IPO round. The ... Read More »

ICICI Bank closes its dedicated project finance vertical, to continue infra lending through corporate finance vertical

ICICI one of the largest private-sector lenders in India, has shut down its dedicated project finance vertical amid a slowdown in demand for such loans and as part of the bank’s strategy to focus on retail banking, multiple people aware of the move confirmed to CNBC-TV18. A “handful” of people that were part of the project finance vertical have been ... Read More »

Ujjivan Small Finance Bank gets SEBI nod to float IPO

Ujjivan Small Finance Bank Ltd, a unit of non-bank lender Ujjivan Financial Services Ltd, has received regulatory nod to float an initial public offering (IPO). The Securities and Exchange Board of India (SEBI) issued final observation to Ujjivan SFB’s IPO proposal on 16 October, according to information published on SEBI’s website. This makes Ujjivan SFB the 24th company to receive ... Read More »

Finance Minister Nirmala Sitharaman to meet public sector bank heads today

NEW DELHI : Continuing efforts to increase credit disbursement, Finance Minister Nirmala Sitharaman will meet the heads of public sector banks (PSBs) today to take stock of recent steps taken by the government, including the first phase of the ‘outreach programme’ across over 200 districts during the festive season, a senior government official told Mint. It is learnt that the minister is expected ... Read More »

Bank strike deferred as Union representatives meet Finance Secretary, discuss their grievances

The two-day strike across the country on September 26 and 27 to protest against the government’s decision of public sector banks’ merger has been called off, after a delegation of four officers’ organisations met the finance secretary on Monday, said a joint statement of the bank officers’ union, including All India Bank Officers’ Confederation (AIBOC), All India Bank Officers’ Association ... Read More »

New small finance bank licenses on the way

The central bank plans to offer new licenses to set up small finance banks and allow payments banks to also apply for licenses, people familiar with the development told Moneycontrol. If payments banks are allowed to become small finance banks, it will allow them to offer a wider bouquet of services, including microloans. It will also be an acknowledgment of ... Read More »

Nirmala Sitharaman press conference: Bank mergers aimed at economic growth, says Finance Minister

Finance Minister Nirmala Sitharaman is addressing her second press briefing on economic slowdown. Based on the Finance Minister’s statements earlier this week, speculations are that two major announcements could be made in order to give the industry a leg-up. Reports also suggest that a mega consolidation plan for public sector banks could also be announced today. The Ministry of Finance ... Read More »

ESAF Small Finance Bank opens new branch in Coimbatore

ESAF Small Finance Bank on Tuesday opened a new branch here, the 275th in the country. Speaking at the inaugural function, the bank’s Vice President K Swaminathan said the bank has a vision to be India’s leading social bank that offers equal opportunities to society through universal access and financial deepening, thus promising financial inclusion, livelihood and economic development. As ... Read More »

India Post Payments Bank to be converted into small finance bank

New Delhi: The postal department said it has decided to convert the India Post Payments Bank into a small finance bank, enabling it to offer small loans to customers. Besides, the department looks to open one crore accounts for IPPB in 100 days. The decisions were taken at the annual Heads of Circles Conference held at Srinagar in Jammu and Kashmir from July ... Read More »