Category: 1 Minute-Read

Categories
1 Minute-Read

NPS exit rules eased, subscribers can withdraw up to 80%

The Pension Fund Regulatory and Development Authority (PFRDA) has updated the National Pension System (NPS) rules for non-government subscribers.

Retirees can now withdraw up to 80% of their corpus as a lump sum at retirement, while only 20% must be used to buy an annuity. Those with savings of Rs 8 lakh or less can withdraw 100% without annuity, and mid-range savers can take partial lump sums.

A new Systematic Unit Redemption (SUR) option allows gradual withdrawals, and subscribers can defer annuity purchase up to age 85. The changes give retirees more flexibility and easier access to funds.

Categories
1 Minute-Read

SEBI gives a go-ahead to 7 companies for IPO Launch

Capital markets regulator SEBI has cleared the draft IPO papers of seven companies, moving them closer to listing on the stock exchanges.

The firms include Turtlemint Fintech Solutions, Yashoda Healthcare Services, Fusion CX, SFC Environmental Technologies, RSB Retail India, Orient Cables India and Lohia Corp. SEBI issued its observations on their draft prospectuses between December 8 and 12.

Receipt of these observations allows companies to file final offer documents and launch their public issues within the prescribed timeline. Details such as issue size, pricing and exact IPO launch dates will be announced separately by the companies.

Categories
1 Minute-Read

Urban Company shares fall 6% to record low

Urban Company shares slid nearly 6 percent to hit a record low after the three-month shareholder lock-in period ended. The expiry made around 4.15 crore shares, or about 3 percent of the company’s total equity, available for trading, leading to a sharp rise in supply.

This increase in tradable shares sparked selling pressure in the market. Urban Company, which provides home and personal care services through its app-based platform, had listed in September at a premium to its IPO price.

Since then, the stock has steadily lost ground as investor sentiment turned cautious following the lock-in expiry.

Categories
1 Minute-Read

Flipkart gets approval to shift base back to India

Flipkart has received approval from the National Company Law Tribunal (NCLT) to move its legal domicile from Singapore back to India, clearing an important hurdle ahead of its initial public offering (IPO).

The Walmart-owned e-commerce company had shifted its headquarters to Singapore in 2011 to attract global investors. With India’s capital markets deepening, Flipkart is now restructuring its corporate setup to enable a domestic listing.

The approval allows the company to begin the process of consolidating its overseas entities under an Indian holding company. While Flipkart has not announced an IPO timeline, the move signals strong intent to list in India.

Categories
1 Minute-Read

Bond market ignores RBI rate cut, PSUs pause

India’s bond market remained largely unresponsive to the Reserve Bank of India’s recent rate cut, keeping yields high and forcing public sector issuers to delay fundraisings.

Indian Railway Finance Corporation (IRFC) became the third PSU in a week to withdraw a bond issue due to weak investor appetite at expected pricing.

Earlier, Power Finance Corporation and SIDBI also shelved sales as bids came in higher than anticipated. Analysts say stress across the yield curve, global uncertainty, and subdued foreign inflows, rather than RBI easing, are driving the cautious market response.

Categories
1 Minute-Read

MUFG nears $3.2 billion deal for 20% of Shriram Finance

Japanese banking powerhouse Mitsubishi UFJ Financial Group (MUFG) is reportedly close to securing a significant stake in Shriram Finance, one of India’s leading non‑bank financial companies.

The investment, estimated at over 500 billion yen ($3.2 billion), would give MUFG roughly 20% ownership, enhancing its foothold in India’s growing credit market.

Negotiations are advanced, though final terms are yet to be confirmed. Shriram Finance, known for loans to vehicles, small businesses, and consumers, saw a rise in its share prices on the news, reflecting investor optimism over the potential strategic partnership and capital inflow.

Categories
1 Minute-Read

ICICI AMC IPO gets 1.5× subscription in 2 days

The ICICI Prudential AMC IPO opened on December 12 with a price band of ₹2,061–₹2,165 per share, raising Rs 10,602 crore through an offer-for-sale by existing shareholders.

By Day 2, the issue was 1.5 times subscribed, led by strong institutional demand, while retail participation remained moderate. The grey market premium stands at around 12%, indicating positive listing sentiment.

Allotment is scheduled for December 17, and the shares are expected to debut on stock exchanges on December 19. Analysts highlight the firm’s market leadership, consistent financial performance, and long-term growth potential despite rich valuations.

Categories
1 Minute-Read

Vodafone Idea may get 4–5 years to pay AGR dues

The government is set to offer Vodafone Idea (Vi) a major breather by proposing a four- to five-year moratorium on its ₹83,000 crore AGR dues.

The plan, awaiting Cabinet approval, could see Vi paying around half of the total liabilities after a reassessment, with the balance cleared through structured instalments.

The interest-free window and potential reduction aim to ease the telco’s financial stress and help it remain competitive in India’s tough telecom market. The move signals a strategic effort to support Vi and ensure stability in the sector.

Categories
1 Minute-Read

KV Toys India shares list 34% higher

Shares of KV Toys India made a strong debut on the BSE SME platform, listing at Rs 320 per share, a 34 percent premium over its IPO price of Rs 239.

The positive opening gave investors healthy listing gains. However, the stock soon saw some profit-booking and slipped to around Rs 304 in early trade.

At this price, the company’s market capitalisation stood at about Rs 191 crore. While the debut was encouraging, the listing gain was lower than grey market expectations ahead of the IPO.

Categories
1 Minute-Read

IndiGo to pay ₹5 billion after flight cancellations

India’s IndiGo airline will pay over ₹5 billion ($55 million) to passengers affected by mass flight cancellations earlier this month.

Around 4,500 flights were cancelled between December 3–5 due to staffing shortages and challenges in complying with new pilot duty and rest regulations.

Tens of thousands of travelers faced disruptions, prompting the aviation regulator to cut IndiGo’s domestic winter schedule by 10 per cent. The airline said it will prioritise compensating passengers whose flights were cancelled within 24 hours of departure.

The disruptions have impacted IndiGo’s operational capacity and revenue projections, while it works to stabilise schedules and prevent further cancellations.