BUSINESS DUNIYA

Chennai-based Equitas Small Finance Bank on Thursday reported a healthy set of numbers with net income rising over 18 per cent to Rs 202 crore in the three months ended December 2023, helped by better asset quality. It had a net profit of Rs 170 crore in the year ago period. Gross advances rose 32 per cent to Rs 32,776 crore in the third quarter of the current fiscal, according to a statement. The net interest margin stood at 8.37 per cent while the net interest income grew 21 per cent in the latest December quarter. The bank's asset quality improved massively, with gross bad loans falling to 2.38 per cent of the total advances from 3.46 per cent in the year-ago period. from Companies https://ift.tt/gX7VuS2 via IFTTT

Entero Healthcare Solutions, JNK India, Exicom Tele-Systems and Akme Fintrade (India) have received markets regulator Sebi's approval to raise funds through initial public offerings. However, the Securities and Exchange Board of India has returned the IPO papers of Stallion India Fluorochemicals. As per the processing status of draft offer documents till January 19, the watchdog has approved the initial public offering (IPO) of the four companies. These four firms, which had filed their preliminary papers with the markets watchdog between June and October, obtained observation letters on January 16-19, an update with the Securities and Exchange Board of India (Sebi) showed on Thursday. In Sebi's parlance, obtaining observation letters means its go-ahead to launch an IPO. Going by the draft papers of Entero Healthcare Solutions, the IPO comprises a fresh issue of equity shares worth up to Rs 1,000 crore and an Offer For Sale (OFS) component of up to 85.57 lakh equity shares. Tho...

The once-high-flying company, founded by Ritesh Agarwal, filed for an initial public offering for the second time in March, after slashing the target amount to be raised by about two-thirds from Companies https://ift.tt/vKZh07E via IFTTT

The SSE enables investors subscribe to zero coupon zero principal (ZCZP) bonds of non-profit organisations (NPOs), which are backed with robust standards of social impact and financial reporting from Companies https://ift.tt/tSGWXjT via IFTTT

Sales volumes for the quarter under review was at 6.8 million tonnes (mt), up 8.1 percent from a year ago from Companies https://ift.tt/r46BZKb via IFTTT

On-demand convenience platform Swiggy on Wednesday said it has not hiked its platform fee and no plans for a significant increase in the near term. The company, which currently charges Rs 5 as a platform fee to customers, clarified it had 'teased' to a "very small set of users" of Rs 10 as an experiment but was never implemented. "Swiggy has not changed its platform fee, and has no plans for a significant increase in the near term," a Swiggy Spokesperson said in a response to a query on the report of the company hiking its platform fee. Further, the spokesperson said, "We're always running small experiments to better understand the consumer's choices. This was one such experiment, and we may or may not scale it up in the future if it doesn't meet our goal of serving our users in the best way possible." Swiggy is always looking for ways to make its platform more affordable, and the latest offering, Pockethero, is another example of that,...