HDFC Life Insurance Company on Thursday said it has received GST demand orders of over Rs 27 crore for alleged short payment of taxes.
In two separate regulatory filings, the insurer said it has received tax demand orders of over Rs 16.5 crore and Rs 10.5 crore from authorities for alleged short payment of GST and input tax credit claim mismatch.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24).
During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database.
However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
Equity mutual fund (MF) schemes have raked in Rs 46,200 crore in net lump-sum inflows in the past six months (ended February 2024), almost thrice the inflow in the previous six-month period.
The froth in the small and midcap (SMID) space is limited to a few pockets, but regulatory scrutiny could lead to sustained volatility, observe India s top-drawer wealth managers.
They add that they have been advising clients to reduce their exposure to smallcaps.
Anand Rathi Wealth, which manages investor wealth through mutual funds (MFs), reports that its exposure to smallcap stocks, both through MFs and directly, has decreased by nearly 7 percentage points in the past few months, now standing at 23 per cent.