Big demand for shares of unlisted, new-age cos post Zomato IPO response
Synopsis
Unlisted shares enter trading circles only when promoters commit to private placements of their equity (to external shareholders) or when employees dilute stock options. Shares of companies such as Paytm, Ola Cabs, AB Inbev, B9 Beverages, Fino Pay Tech, Mobikwik, Capital Small Finance Bank, Fincare SFB, Utkarsh SFB, Reliance Retail, Razorpay, Bazaar India Retail, Smaash Entertainment, Nykaa among others, are being traded in sizable lots everyday through brokers dealing in unlisted equities.
Mumbai: Brokers dealing in shares of unlisted companies have never been this busy. The overwhelming response to the recently concluded Zomato initial public offering (IPO) has spurred demand for shares of unlisted, new-age companies that are looking to list in the near future. This has led to a spurt in trading volumes, and share prices of several unlisted companies have risen 20-30% in the past month, said brokers
Small Finance Banks have greater presence in well-banked States, says RBI report
January 21, 2021
SFBs penetration in the North-Eastern region remains low
Small Finance Banks (SFBs) have greater concentration of branch network in relatively well-banked States, according to an assessment in the Reserve Bank of India’s (RBI) latest monthly bulletin.
While there has been a rapid growth in the branch network of SFBs since their inception, this growth has been markedly concentrated in the Southern, Western and Northern regions, which are known as the relatively well-banked regions in the country, RBI officials Richa Saraf and Pallavi Chavan said in an article in the bulletin.
The empty bank locker.
LUDHIANA: In a significant development in the infamous case of operating of a bank locker of an accused of bogus billing case while he was under judicial custody, a team central GST (CGST) commissionerate Ludhiana on Thursday got the locker broke open by an expert.
As anticipated nothing was found inside the locker, as a day after his arrest his wife had operated it and probably took away all the belongings inside the locker, some of which is suspected to be proceeds from the bogus billing nexus of the accused.
A team comprising of six officials of CGST Ludhiana reached the Sundar Nagar branch of Capital Small Finance Bank Limited with warrant to break open the locker in the name of Sahil Jain (arrested accused). After showing the warrant to the operations manager of the bank, CGST team opened the seal from the locker which was affixed by them on December 24th when they had initially come to open the locker.
Representative image
LUDHIANA: Taking cognizance of the complaint filed by the Central GST (CGST) commissionerate, Ludhiana, in the case of operation of the bank locker of a businessman while he was in judicial custody for bogus billing, Daresi police registered an FIR against three persons on Saturday night.
The accused include the manager and the assistant manager of the bank and the businessman’s wife, who operated the locker. Non-bailable sections have also been slapped against them and raids are on to trace them.
Sub-inspector Chaman Singh, who is investigating the case, said, “On the complaint of CGST commissionerate, we have registered an FIR against manager Manpreet Singh and assistant manager Manish Verma of Capital Small Finance Bank Limited, Sunder Nagar Branch, and Yashita Jain under sections 420, 465, 467, 468, 471 and 120-B of the IPC for fraud, forgery, cheating and abetment to an offence. Teams have also been formed to nab the accused.”
Ludhiana GST Scam Accused Sahil Jain Wife operated bank Locker by fake signature jagran.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jagran.com Daily Mail and Mail on Sunday newspapers.