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IIFL Securities is India’s No. 1 Investment Bank for Equity IPOs; Helps in Fund Raising for 18 Companies through IPOs and QIPs

(*1*)As per Prime Database, IIFL Securities is ranked as India’s No.1 funding financial institution for fairness IPOs for the monetary yr ending March 2023 and in the primary quarter of monetary yr 2024 ending in June, 2023 in phrases of variety of IPOs. IIFL Securities efficiently closed capital market offers (IPOs and QIPs) for 18 corporations serving to them elevate capital throughout this era.

(*1*)During this era IIFL Securities accomplished 15 IPOs which embody amongst others, IPOs for Mankind Pharma, Avalon Technologies, KFIN Technologies, Sula Vineyards, Kaynes Technology India, Archean Chemical Industries, Bikaji Foods International, Fusion Micro Finance, Tracxn Technologies, Electronics Mart India, Syrma SGS Technology, eMudhra and Rainbow (*18*)’s Care Hospital. IIFL Securities additionally managed the QIPs of Indiabulls Real Estate, Ujjivan Small Finance Bank and Data Patterns throughout the identical interval.

(*1*)IIFL Securities has constructed a robust Capital Markets platform which has been doable as a consequence of its unwavering dedication, superior consumer focus, sturdy analysis and superior distribution throughout investor classes – institutional buyers (each overseas and home), excessive net-worth people and retail buyers.

(*1*)Nipun Goel, Head of Investment Banking at IIFL Securities stated, “IIFL Securities has develop into probably the most most well-liked funding financial institution for corporates in India on the again of best-in-class fairness analysis and agile banking and distribution crew. We be sure that there is no compromise on compliance and disclosure, which has earned us the belief of India Inc. IIFL Securities will proceed to stick to the best ranges of company governance in its dealings with shoppers throughout the platform.”

(*1*)“A big a part of our enterprise tends to be repeat enterprise from present shoppers and we’re grateful to our shoppers for the belief that they’ve reposed in us.”

(*1*)In FY24, India’s GDP progress is anticipated to stay strong and the nation will stay the quickest rising main economic system in the world because it fared higher in recovering from pandemic-induced contraction, Russia-Ukraine battle and Inflation. Backed by sturdy macro fundamentals, Indian economic system has staged a broad based mostly restoration throughout sectors. Indian capital markets are additionally seeing sturdy assist from each DIIs and FIIs. Equity Capital Markets noticed document inflows from SIPs in 1Q-FY24.

(*1*)On the again of stronger fundamentals, FIIs additionally reinstated their dedication to India with Net FII Inflows standing at INR 1 Trillion (USD 12 Billion) in the primary quarter of FY24. As the Indian economic system continues to develop at a agency tempo, IIFL Securities expects traction in the fairness issuances by corporations with progress plans.

(*1*)About IIFL Securities

(*1*)IIFL Securities Ltd (NSE: IIFLSEC, BSE: 542773) is one of many key capital market gamers in the Indian monetary providers area. IIFL Securities together with its subsidiaries affords advisory and broking providers, monetary merchandise distribution, institutional analysis and funding banking providers. IIFL Securities has established itself through a mixture of modern expertise, numerous product choices, administration experience, and a large community of branches throughout India. The Company has developed long-term relationships with its prospects with sustained top quality efficiency and continues to be their most well-liked funding accomplice.

July 18, 2023
IIFL Securities is India’s No. 1 Investment Bank for Equity IPOs; Helps in Fund Raising for 18 Companies through IPOs and QIPs

(*1*)As per Prime Database, IIFL Securities is ranked as India’s No.1 funding financial institution for fairness IPOs for the monetary yr ending March 2023 and in the primary quarter of economic yr 2024 ending in June, 2023 in phrases of variety of IPOs. IIFL Securities efficiently closed capital market offers (IPOs and QIPs) for 18 corporations serving to them elevate capital throughout this era.

(*1*)During this era IIFL Securities accomplished 15 IPOs which embrace amongst others, IPOs for Mankind Pharma, Avalon Technologies, KFIN Technologies, Sula Vineyards, Kaynes Technology India, Archean Chemical Industries, Bikaji Foods International, Fusion Micro Finance, Tracxn Technologies, Electronics Mart India, Syrma SGS Technology, eMudhra and Rainbow (*18*)’s Care Hospital. IIFL Securities additionally managed the QIPs of Indiabulls Real Estate, Ujjivan Small Finance Bank and Data Patterns throughout the identical interval.

(*1*)IIFL Securities has constructed a robust Capital Markets platform which has been doable on account of its unwavering dedication, superior consumer focus, sturdy analysis and superior distribution throughout investor classes – institutional buyers (each international and home), excessive net-worth people and retail buyers.

(*1*)Nipun Goel, Head of Investment Banking at IIFL Securities mentioned, “IIFL Securities has turn out to be probably the most most popular funding financial institution for corporates in India on the again of best-in-class fairness analysis and agile banking and distribution group. We make sure that there is no compromise on compliance and disclosure, which has earned us the belief of India Inc. IIFL Securities will proceed to stick to the very best ranges of company governance in its dealings with purchasers throughout the platform.”

(*1*)“A big a part of our enterprise tends to be repeat enterprise from present purchasers and we’re grateful to our purchasers for the belief that they’ve reposed in us.”

(*1*)In FY24, India’s GDP progress is anticipated to stay sturdy and the nation will stay the quickest rising main financial system in the world because it fared higher in recovering from pandemic-induced contraction, Russia-Ukraine battle and Inflation. Backed by sturdy macro fundamentals, Indian financial system has staged a broad based mostly restoration throughout sectors. Indian capital markets are additionally seeing sturdy help from each DIIs and FIIs. Equity Capital Markets noticed file inflows from SIPs in 1Q-FY24.

(*1*)On the again of stronger fundamentals, FIIs additionally reinstated their dedication to India with Net FII Inflows standing at INR 1 Trillion (USD 12 Billion) in the primary quarter of FY24. As the Indian financial system continues to develop at a agency tempo, IIFL Securities expects traction in the fairness issuances by corporations with progress plans.

(*1*)About IIFL Securities

(*1*)IIFL Securities Ltd (NSE: IIFLSEC, BSE: 542773) is one of many key capital market gamers in the Indian monetary companies house. IIFL Securities together with its subsidiaries presents advisory and broking companies, monetary merchandise distribution, institutional analysis and funding banking companies. IIFL Securities has established itself through a mixture of modern know-how, numerous product choices, administration experience, and a large community of branches throughout India. The Company has developed long-term relationships with its clients with sustained top quality efficiency and continues to be their most popular funding associate.

July 18, 2023
Govt to draft rules requiring health, finance influencers to run disclaimers

Influencer roasts Katrina Kaif over cooking abilities, her response fries him up

Soon the amalgam of well being influencers, who give tips about varied social media platforms about consuming a specific nutrient or complement, could have to show their {qualifications} and eligibility, to be sure that they aren’t indulging in surrogate promoting or pedalling half-baked info to their followers.

The division of shopper affairs is within the means of getting ready tips for social media influencers, particularly within the area of well being and finance, to be sure that they aren’t pedalling half-baked or deceptive info.

Under these tips, which shall be in place by subsequent month, such influencers could have to put out disclaimers on their platforms, making it clear whether or not they’re precise nutritionists or are simply selling a product.

Social media influencerIANS

A tremendous of Rs 10 lakh can be imposed on these violating these tips, sources knowledgeable.

Health and wellness influencers are sometimes seen providing recommendation on utilizing particular dietary supplements, ministry officers mentioned, including that the federal government solely needs to guarantee whether or not they’re simply endorsing a product and promoting a product within the identify of vitamins, or are real specialists within the area.

They mentioned that buyers are misled by the knowledge these influencers present on their platforms, main to them shopping for merchandise which can have an effect on their well being.

Under these tips, such influencers would have to set up their qualification as an skilled, if they’re asking their subscribers to use a specific nutrient or complement, official sources mentioned.

Social media put upIANS

Disclaimers could have to be put out by such influencers to set up their reference to that specific product, and in addition to make it clear as in what capability they’re pedalling info to subscribers.

The concept behind these tips is to be sure that such influencers do not take pleasure in manipulation.

Even finance sector influencers or “finfluencers” who present info to their followers on varied monetary merchandise, advising them to spend money on specific schemes or monetary devices, will fall throughout the ambit of those tips.

They too could have to put out their credentials, making it clear whether or not they’re certified monetary advisers or simply selling a specific scheme or monetary product within the garb of funding advisers, thus duping traders within the course of.

(With inputs from IANS)

July 9, 2023
Linking Aadhaar-PAN not mandatory for NRIs
The Indian authorities has as soon as once more prolonged the deadline to link Aadhaar playing cards with PAN numbers for Indian residents.

The authorities has prolonged the PAN-Aadhaar linkage deadline by one other three months until June 30. Photo courtesy: PIB

The newest mandatory deadline to have your Aadhaar linked with Permanent Account Number is June 30, 2023. Failing which, the PAN will change into inoperative, leaving residents unable to file earnings tax returns, perform NSE or BSE transactions and a number of other different monetary companies.

Certain classes of people are exempt from the requirement of linking the Aadhaar and PAN. According to the Income Tax Department’s portal, Aadhaar-PAN linkage is not mandatory for people within the following classes:
1. Non-Resident Indians (NRIs) as per the Income Tax Act 1961
2. Residents of the states of Assam and Meghalaya and the union territory of Jammu and Kashmir
3. Anyone who was of the age of 80 years or extra at any time in the course of the earlier 12 months
4. Individuals who’re not residents of India
Under the Income Tax Act, NRIs with a PAN and Aadhaar card could hyperlink the 2, however it’s not mandatory for them. However, if an NRI does not hyperlink his PAN and Aadhaar, they want to replace their residential standing as an NRI on the Income Tax portal on-line. If the Income Tax Department is not knowledgeable about residential standing and PAN-Aadhaar is not linked, the PAN quantity could change into inoperative.

For the remainder of the taxpayers, the Aadhaar-PAN linking is mandatory. The authorities has prolonged the PAN-Aadhaar linkage deadline by one other three months until June 30. All Aadhaar-PAN holders can hyperlink them at the Income Tax Department’s e-filing portal.

Earlier, the deadline was set to run out on March 31, 2023. Last 12 months, the tax division had prolonged this deadline by three months with a late price of INR 500, which was additional stretched to March 31, 2023 with a high-quality of INR 1,000.

As per a current round issued by the Central Board of Direct Taxes (CBDT), as soon as a person’s PAN turns into inoperative, she or he shall be liable for all the results beneath the Income Tax Act and should endure quite a few implications.

The provisions of the I-T Act make it mandatory for all people, besides for sure classes, who’ve been allotted a PAN to intimate Aadhaar quantity to the prescribed authority in order that it may be linked with their PAN.

NRI
June 26, 2023
PNB Housing Finance Launches its Eco-Friendly Initiative to Combat Plastic Waste on World Environment Day

Mumbai, 06 June 2023: PNB Housing Finance, one of many main housing finance corporations in India, introduced its new initiative to set up 16 PET bottle crusher machines throughout Mumbai, together with key metro stations. It was launched by PNB Housing’s CSR arm Pehel Foundation in collaboration with the Khushiyaan Foundation to fight plastic air pollution and handle the problem of plastic waste in India.

India has seen a colossal quantity of PET (Polyethylene terephthalate) waste through the years. As per statistics, greater than 14 lakh tonnes of PET plastic waste is consumed and generated yearly. Despite a laudable worldwide recycling fee of 80%, roughly 2.8 lakh tonnes of used plastic bottles stay uncollected. By accumulating and recycling plastic bottles, PNB Housing Finance goals to encourage customers to forestall a minimal of 8000 kg of plastic waste from getting into the ocean or landfills every year.

Commenting on the initiative, Mr. Girish Kousgi, MD & CEO, of PNB Housing Finance mentioned, “As a company that focuses on making a constructive impression on society, we implement a number of packages by way of our CSR arm Pehel Foundation, in key intervention areas like surroundings, well being, schooling, ladies empowerment, and so forth. At a time after we can see the consequences of local weather change round us, it turns into much more essential to increase consciousness concerning the plastic waste disaster and encourage people to dwell sustainably. We are proud to launch this distinctive eco-friendly initiative of putting in plastic crushing bottles in a bustling metropolis like Mumbai. We firmly consider that small actions right now can lead to a constructive change tomorrow, and we’re pleased to contribute to a cleaner and more healthy future.”

Dr. Chinu Kwatra, Founder of, Khushiyaan Foundation, said, “World Environment Day serves as a reminder to make aware efforts to preserve our environment and undertake sustainable dwelling habits. We are pleased to collaborate with PNB Housing Finance and Pehel Foundation to set up PET bottle crushing machines in a number of the busiest areas of Mumbai, and hope this may unfold consciousness concerning the antagonistic results of plastic waste.”

An consciousness ceremony was held yesterday on the DN Nagar Metro Station, with native representatives supporting the trigger. As a part of the primary part of the venture, machines have been put in at Chakala, Sakinaka, Andheri, DN Nagar, and Versova metro stations.

Mansi Praharaj

June 6, 2023
Moneyboxx Finance Limited achieves profitability in Q4 FY23
New Delhi: May 2023 Performance Highlights of Q4 FY23 and FY23 ending thirty first March 2023

Robust enterprise development led by department enlargement and better productiveness: Disbursements greater than tripled to INR 341 crores in FY23 from INR 112 crore in FY22 pushed by department enlargement (addition of 31 branches in FY23) and robust enchancment in department productiveness. The firm posted report quarterly disbursements of INR 146 crores in Q4 FY23, rising by 211.9% in comparison with Q4 FY22 and registering a sequential development of 45.9% over Q3 FY23

AUM grew by 184% to INR 338 crores as on March 31, 2023, in comparability to INR 119 crores as on March 31, 2022, led by sturdy enterprise development and lending partnerships

Total Income grew strongly by 116% to INR 50.44 crores in FY23 in comparison with INR 23.31 crores in FY22, in line with sturdy development in enterprise and AUM. Total Income at INR 18.62 crores in Q4 FY23 grew by 144.3% in comparison with Q4 FY22

The firm reached an inflection level in profitability, posting earnings in Q4 FY23 pushed by enhancing department productiveness and rising scale of operations. The firm posted a revenue after taxes of INR 0.42 crore in comparison with a web lack of INR 2.70 crore in Q3 FY23. The Company has sturdy unit economics (NIM margin of over 15%) and profitability is additional anticipated to enhance pushed by declining marginal price of borrowings, enhancing department productiveness, elevated share of the secured lending enterprise, and the good thing about working leverage with rising scale and AUM

Robust asset high quality: Moneyboxx has distinctive asset high quality with very low NPAs and write-offs owing to its concentrate on important sectors and strong underwriting practices. Asset high quality stays sturdy with a Gross NPA of 0.59% and a Net NPA of 0.30% as on thirty first March 2023.

Continuous validation by lenders together with banks and international impression funds: The firm additional diversified funding sources and lowered the price of funding by including publicity from main lenders (SBI, IDFC First Bank, DCB Bank, Federal Bank, AU SFB, Utkarsh SFB, and Tata Capital). The Company raised debt of INR 235 crores in FY23 in comparison with INR 105 crores in FY22.

Commenting on the outcomes, Deepak Aggarwal (Co-CEO & CFO) stated, “We have a confirmed, extremely scalable, and worthwhile enterprise mannequin with strong underwriting practices and a powerful technological spine with solely digital processes. We see sturdy development alternatives given the massive unmet credit score hole for micro-enterprises in INR 1-10 Lac mortgage phase in Tier-III and under areas and we purpose to remodel the lives of micro-entrepreneurs via our numerous beyond-lending impression initiatives comparable to free vet advisory and agro-forestry for livestock and agricultural debtors. Moneybox is dedicated to altering the way in which impression investing is checked out and bringing important optimistic change in the lives of its debtors.”
Sujata
May 27, 2023
Earn Up to 7.95% As PNB Housing Finance Raises AA-Rated Fixed Deposit Rates
PNB Housing Finance Ltd is certainly one of India’s prime housing finance firms. It just lately revised its rates of interest of lower than ₹5 Crores on FDs. After this revision, it gives rates of interest starting from 7.35% p.a. To 7.95% p.a. on deposits that mature in 12-120 months. The PNB Housing Finance FD interest rates are efficient from seventeenth February 2023.

For deposits up to ₹1 Crore, senior residents can get pleasure from a further 0.25% p.a. curiosity over the bottom fee. They additionally offer you the choice of month-to-month, quarterly, half-yearly and annual payout, permitting you to have a gradual stream of revenue not tied to the market. The NBFC has a AA/Stable score by CARE and CRISIL.

The revised rates of interest of PNB Housing Finance Ltd are as follows:

PNB Housing Finance FD Interest Rates of Cumulative Fixed Deposits for General and Senior Citizens

PNB Housing Finance FD Interest Rates of Non-cumulative Fixed Deposits for General Citizens

PNB Housing Finance FD Interest Rates of Non-Cumulative Fixed Deposits for Elderly Citizens

Why Do You Need to Consider the PNB Housing FD?

PNB Housing supplies dependable financial savings choices for people in addition to firms with the PNB Housing Finance Fixed Deposits. The advantages of the PNB Housing Finance FD are:

Lucrative returns: They supply aggressive rates of interest together with a gradual curiosity circulate. You can simply begin a PNB HFL mounted deposit to handle and plan your bills. It may also help you construct wealth and develop your retirement corpus. You can use FD calculators accessible on-line to discover the curiosity revenue.

Guaranteed returns: The assured returns you get make it among the finest financial savings choices out there. Market fluctuations don’t affect the returns that you simply get. Therefore, you get assured returns in your PNB HFL mounted deposit.

No tax deduction: No TDS is deducted if the curiosity revenue is lower than ₹5,000 each monetary yr.

Premature closure: Premature closure of PNB HFL mounted deposits is allowed after the three-month lock-in interval. Any untimely withdrawals made inside six months are charged an rate of interest of 4% per yr.

Flexible tenor: Individuals can open a PNB Housing FD for tenors of 12-120 months. You can choose a tenor that most closely fits your wants and necessities. Consider the issue of liquidity earlier than you choose a tenor.

Loan towards mounted deposit: You can get a mortgage towards your PNB HFL for up to 75% of the deposit quantity. This will enable you to fund any monetary difficulties.

Eligibility Criteria for PNB Housing Finance Ltd FD

The entities talked about beneath are eligible to open a PNB Housing Finance Limited Fixed deposit account:

Indian Citizen

Sole Proprietorship

Hindu Undivided Family (HUFs)

Family trusts

Companies, together with group corporations

Minors underneath lawful/pure guardianship

Religious and charitable trusts

Co-operative societies

Association of Persons

With 100+ branches unfold throughout 35 cities in India, their huge community supplies doorstep companies for his or her FD account holders. The minimal quantity for month-to-month revenue schemes of PNB Housing Ltd is ₹25,000. For all the opposite plans, the minimal deposit is ₹10,000. You can open a joint FD account with three joint holders most. The contribution for a similar will be made by means of cheque, cheque administration system. Make positive to use the FD calculator to get an concept in regards to the returns you’re going to get once you get began with a PNB housing mounted deposit.
May 1, 2023
Finance ministry clarifies on hike in STT on options trading

PM Modi holds bilateral talks with Japanese counterpart Kishida, thanks him for G7 summit invite

The Finance Ministry on Friday night clarified that the securities transaction tax (STT) on options trading has been hiked by 25 per cent from 0.05 per cent to 0.0625 per cent, and never from 0.017 per cent to 0.021 per cent, saying that it was a typographical error and the rectification might be performed in accordance with the extent process of the federal government.

The STT for futures trading stays the identical, as was introduced in the amendments to the Finance Bill 2023, i.e., it has been raised to 0.0125 per cent from 0.01 per cent. The hikes in STT for each futures and options trading can be efficient from April 1, 2023.

In quick, the STT has been hiked by as much as 25 per cent on futures and options (F&O) trading as per the amendments to the Finance Bill 2023, which was handed in the Lok Sabha earlier in the day by voice vote, with none dialogue.

Ministry of finance.IANS

By effecting a hike in STT on F&O trading, the federal government goals to tax such transactions extra as turnover is larger in them.

As per the amendments, choice merchants should pay Rs 6,250 for each Rs 1 crore value of turnover as towards Rs 5,000 that’s being paid at the moment, which interprets right into a hike of round 25 per cent. Also, merchants will now must pay STT of Rs 1,250 on Rs 1 crore of turnover whereas promoting futures.

(With inputs from IANS)

March 25, 2023
Telangana’s Hon’ble Minister of Finance and Medical Health Shri Harish Rao inaugurates Kangaroo Kids in Hyderabad

Hyderabad, March 17, 2023: Kangaroo Kids International Preschool, India’s main premium early childhood training model, launched its new centre in Jubilee Hills, Hyderabad. The centre was inaugurated by Hon’ble Minister of Finance and Medical Health of the Government of Telangana, Shri Harish Rao in the presence of Shri Danam Nagender, MLA Khairatabad; Shri L. Ramana, MLC and Shri V. Venkatesh, Corporator, Jubilee Hills. The new centre goals to supply revolutionary studying surroundings and a world iCan Learning System to assist every particular person learner with alternatives to maximise their inherent potential.

With greater than 30 years of expertise, Kangaroo Kids International Preschool is thought for its path-breaking pedagogy and learner-centric strategy that seeks to make younger kids lifelong learners. The iCan Learning System focusses on imparting 9 future abilities and 15 habits of thoughts in younger kids via a well-researched and meticulously executed curriculum design inside an emotionally protected surroundings that encourages kids to replicate, assume, and apply their learnt abilities whereas having heaps of enjoyable.

Commenting on the launch of the brand new centre, Okay V S Seshasai, CEO, Pre-Okay Division, Lighthouse Learning mentioned, “In our endeavour to offer transformative studying experiences to younger kids, we’re glad to increase our community and launch the brand new centre in Jubilee Hills in addition to fifteen centres in Hyderabad. We have began the admission course of for the brand new educational yr. We welcome all dad and mom to return and take admission to offer their kids with finest early childhood training. We at Kangaroo Kids concentrate on the general and holistic growth of kids and present them top quality training via immersive studying.”

By establishing new centres in Hyderabad, Kangaroo Kids International Preschool goals to ship enriching academic qualification to the younger learners and amplify every little one’s individuality with a fluidic studying methodology that permits them to be taught and transition to the subsequent stage studying by utilizing their strengths and persistently working in direction of age acceptable abilities and habits. Along with its finest in class teacher-child ratio and immersive studying areas, Kangaroo Kids International Preschool creates an surroundings that blends with the training wants of the kid; one of the numerous the reason why the preschool has been a raging success amongst kids and dad and mom for 30 years.

March 17, 2023
PNB Housing Finance empowers rural women with a menstrual hygiene program

Delhi, March 2023: PNB Housing Finance has undertaken a noble mission to create consciousness and practice rural women concerning the significance of menstrual hygiene. A program on menstrual hygiene administration (MHM) was inaugurated on 19 January 2023 beneath which the Company, in affiliation with the Desai Foundation, has arrange a sanitary serviette manufacturing unit at Sitapur Road in Lucknow.

PNB Housing Finance’s CSR arm, the Pehel Foundation, has taken this initiative to get rid of a key barrier to ladies’ training and women’s participation within the workforce. The program goals to extend consciousness about menstrual hygiene amongst rural women and supply them with quick access to high quality and inexpensive sanitary napkins. A 3-pronged strategy, i.e., creating consciousness, establishing a native manufacturing unit, and constructing a strong distribution community of feminine gross sales representatives, will assist foster a sustainable ecosystem and increase their monetary empowerment.

PNB Housing Finance MD & CEO Girish Kousgi mentioned, “The women workforce varieties an integral a part of a nation’s progress. We consider that such last-mile neighborhood packages assist construct progressive people. Through this initiative, we intend to empower younger women by eradicating the stigma related with menstrual well being, in addition to the lack of understanding and assets in direction of satisfactory hygiene, which hinders their development and growth.”

While this program will assist present livelihood alternatives to rural women, the Company is assured that the direct distribution mannequin will enhance entry to menstrual hygiene, which might show to be a catalyst for change in all the neighborhood. It additionally plans to increase a related program in different places within the coming future.

Rekha Nair

March 12, 2023