Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Bad loans were increasing due to continued deleveraging by the Indian corporate sector
Total income also dropped 6 per cent to Rs 347 crore for the quarter under review from Rs 368 crore in the quarter ended on December 31, 2021
The issue, which also has a greenshoe option to retain an oversubscription of 9 billion rupees, will open for subscription on Friday and close on Jan. 18
The IIFL Group's early-stage investment vehicle, IIFL Fintech Fund, has invested USD 2 million (around Rs 16.5 crore) in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around USD 13 million (around Rs 107 crore). The startup also received another USD 1 million from other investors in the series-A round. This is IIFL fintech fund's 10th investment and first in the insuretech space, the company said, adding it has already invested 50 per cent of the Rs 210 crore corpus of the fund. The IIFL group launched the fintech fund in August 2021 with a corpus of Rs 210 crore with sponsorships from two group companies--IIFL Finance and IIFL Securities. The fund has so far invested Trendlyne, Leegality, Finbox, Datasutram, Multipl, Finarkein, Trustcheckr, Finvu and Easyrewardz. Samadhan is an online platform that deals with resolving insurance related complaints such as mis-selling, lapsed policies, policy rejection, fraud or claim rejection in
Realty firm Eon Group on Friday said it has raised Rs 50 crore from IIFL Home Finance for its township project in Mumbai. IIFL Home Finance has recently invested Rs 50 crore senior-secured construction debt in its affordable housing township 'Riverwood Park' located in Thane, Eon said in a statement. The investment will be in Phase II of the 42-acre project. Eon Group said the fund will help the firm accelerate the completion and delivery of the five towers of Phase II that are under varying stages of construction. The total development potential for sale is over 7 lakh square feet. Bharat Shah, Chairman of Eon Group, expressed confidence about the housing demand. Sales bookings for over 60 per cent of the inventory have already been achieved and the final tower of Phase II is expected to be completed by December 2025. Eon plans to develop Phase III of the township which will have over 15 lakh square feet of residential area. Palash Shah, Managing Director of Eon Group, said: ..
The minimum waiting period for owning a prized set of wheels has stretched to 18 months, and buyers are loosening their purse strings further to get these rides customised to reflect their personality
The scheme, which opened for subscription on Thursday, will mimic the Nifty 50 index
But valuations have turned attractive after sharp corrections since January
The company says it manages over Rs 3.3 trillion through its various mutual fund, PMS, AIF and other products
IIFL Finance on Wednesday reported a 36 per cent rise in its consolidated net profit at Rs 397 crore in the September quarter. The non-banking finance company had posted a net profit of Rs 292 crore in the same quarter of the preceding fiscal year. The company's total income during the July-September period of 2022-23 rose to Rs 2,051.44 crore as against Rs 1,713.37 crore in the year-ago period, it said in a regulatory filing. The consolidated statement includes results of four subsidiaries -- IIFL Home Finance, IIHFL Sales Ltd, IIFL Samasta Finance and IIFL Open Fintech Pvt Ltd.
IIFL Wealth & Asset Management on Wednesday reported a 23 per cent growth in profit after tax (PAT) to Rs 173 crore for three months ended September 2022. The company had posted a PAT of Rs 140 crore in the same quarter of the last fiscal, IIFL Wealth & Asset Management said in a statement. The company's total revenue rose 12 per cent to Rs 405 crore in the second quarter of 2022-23, from Rs 362 crore in the same quarter of preceding fiscal. The company's board declared the third interim dividend of Rs 17 per share. "In the near term, we are cognizant of the global volatility which can provide both challenges as well as opportunities. We continue to look out for exciting new products and opportunity areas, while remaining relatively cautious in our approach," the company's MD and CEO Karan Bhagat said. He, further, said that people and technology remain the company's key investment themes. It would continue to add new talent and deep expertise to the organization.
Currently, retail open interest in index futures is about 153,000 contracts. In stock futures, however, about 1.11 million contracts - near historic peak levels
In a Q&A, R Venkataraman says the markets seem to be hoping against hope that rate hikes will not need to be sharp going ahead so as to trigger a global recession
More than 82% of the billionaires on the list are above the age of 50, and only 0.6 per cent of the rich in the list are below the age of 30, said the Hurun India study
Vohra stood at the 1,036th spot in the IIFL Wealth Hurun India Rich List 2022, with a net worth of Rs 1,000 crore
The IIFL Wealth Hurun India Rich List 2022 showed that 100 start-up founders in India have a net worth of more than $10 billion
Company's recovery and expansion after impact of Covid-19 expected to improve rentals and occupancies
The financial condition of Shriram Transport Finance, Muthoot Finance, Manappuram Finance and IIFL Finance is satisfactory, says agency
Despite the positive flows, the allocation in IT at 10.7 per cent dropped for the fifth consecutive month and is the lowest since March 2018
Hypercompetition, high-cost inventory, and volume-over-margins delay gains