Most Future Enterprises lenders back Avil Menezes as resolution professional
The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.
HSBC opens its private banking business in India, again
India surpassed the UK as the world’s fifth largest economy in 2022 and is expected to overtake Japan and Germany by 2027-28 according to the UN department of economic and social affairs. The bank quoted a Knight Frank wealth report which said that the number of ultra high net worth individuals in India with more […]
Retail investors play momentum with record margin funding
The surge in risk-taking indicates that retail investors were euphoric, with the mid-cap and small-cap indices making new highs recently. The average margin funding in June was about ₹28,535 crore compared to ₹26,600 crore in May or about ₹26,000 crore last year.
PKH Ventures’ IPO fails to get through
The qualified institutional buyers’ portion was undersubscribed at 0.11 times, while the non-institutional investor’s portion was subscribed at 1.67 times. The retail portion was subscribed 0.99 times. The company had priced its shares at ₹140-148 apiece.
HDFC looks at promoter offer for two Radisson Blu hotels
The total outstanding loan for the hotel properties amounts to ₹507 crore. The portfolio consists of loans provided to KAD Housing and KAJ Infrastructure, both entities promoted by DP Jain and his family that operate two five-star hotels in Ghaziabad, namely Radisson Blu Kaushambi and Radisson Blu Hotel, as reported by ET on June 23.
Piramal Capital to sell more loans for Rs 1,669 crore
This is the second loan that the company is looking to sell in less than 10 days. It had also sold a total loan outstanding pool of ₹3,656 crore to Omkara ARC for ₹625 crore last week. The sale resulted in a recovery of 17%s for Piramal. The principal outstanding of the pool was ₹3,656 […]