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India: PowerGrid InvIT IPO subscribed 61% on second day of bidding

India: PowerGrid InvIT IPO subscribed 61% on second day of bidding April 30, 2021 The public issue of PowerGrid Infrastructure Investment Trust was subscribed 61% on Friday, the second day of the bidding. The issue received bids for 25.82 crore equity shares against the issue size of 42.54 crore shares, according to stock exchange data. The portion of the share sale reserved for qualified institutional investors was sub- scribed 38% on day two, while that reserved for non-institutional investors was subscribed 88%. PowerGrid plans to raise nearly ₹7,735 crore via the public issue by issuing fresh shares worth ₹4,993.48 crore and an offer for sale of units held by PowerGrid worth ₹2,741.50 crore. The issue will close on 3 May.

M&M Company News: Volatility Riddled Mahindra Finance Tries To Turn The Corner

Apr 28 2021, 11:31 AM April 28 2021, 7:51 AM April 28 2021, 11:31 AM From a Covid-ravaged economy to a parent struggling with supply disruptions, many things that could go wrong for Mahindra & Mahindra Financial Services Ltd. in FY21 did go wrong. The lender capped a volatile year with a weak set of fourth-quarter earnings and while it hopes for a quick turnaround, analysts remain sceptical.For the full year, Mahindra Finance reported a 63% drop in profit after tax, while for the fourth-quarter profit. From a Covid-ravaged economy to a parent struggling with supply disruptions, many things that could go wrong for Mahindra & Mahindra Financial Services Ltd. in FY21 did go wrong. The lender capped a volatile year with a weak set of fourth-quarter earnings and while it hopes for a quick turnaround, analysts remain sceptical.

ICICI Bank has outpaced HDFC Bank on nearly every count in the last three months

ICICI Bank has outpaced HDFC Bank on nearly every count in the last three months
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