The German insurer’s decision stems from a shift in its priorities as it is unable to play a significant role in the operations. While signing the JV agreement, Allianz had expected it would raise its stake to 74%, the maximum allowed under Indian foreign direct investment (FDI) rules at a discounted price, but the option lapsed in 2016.
Allianz ‘actively considering’ exiting Bajaj Insurance JVs (22-10-2024)
The German insurer’s decision stems from a shift in its priorities as it is unable to play a significant role in the operations. While signing the JV agreement, Allianz had expected it would raise its stake to 74%, the maximum allowed under Indian foreign direct investment (FDI) rules at a discounted price, but the option lapsed in 2016.
Ugro Capital – Opportunity To Invest in a Fintech-like Company Below Book Value (22-10-2024)
10% GNPA in SCF looks elevated due to the fact that management has completely halted the disbursement of loans in this vertical.
One observation: If you completely remove the 355cr outstanding book of SCF the GNPA on rest of the AUM is only 1.8%.
Disbursement of 615cr as co-lending is huge (highest in it’s peer, like SBFC and Five star), this shows the banks trust Ugro’s underwriting methodology. Massive debt raised at the time, when bank lending to NBFC is not prevalent, is worth mentioning.
I feel the business momentum is good and the management has finally found their Mojo (micro enterprise lending), and share should also do good in the quarters to come.
Invested and biased
Congress fields 15 of its 17 sitting MLAs in Jharkhand (22-10-2024)
The Congress central election committee’s decision on Monday late night to repose faith in most of the sitting MLAs also conveyed the message the party sought to avoid any risk of potential pre-poll desertions by these legislators in a state known for political pole vaulters. Besides, it meant that the party, which is part of the Jharkhand Mukti Morcha (JMM)-led ruling coalition in the state, was ready to face double incumbency of the coalition government and the sitting MLAs.
Aditya Birla Fashion and Retail Ltd (22-10-2024)
Have worked with brands like LP and AS as Regional retail head looking after EBO and Key account channels and with Pantaloons as the Regional Category head. We can discuss this offline 
As told I’ve not been keeping a tab on latest happenings post 2021 end from the time I had left the group 
. My biggest miss from this sector was Raymond in terms of value for which I still kick myself. Of course promotor issue was the biggest deterrent.
Trinamool MP Kalyan Banerjee suspended for a day from Waqf panel for hurling bottle (22-10-2024)
Trinamool MP Kalyan Banerjee was suspended for a day from the Waqf (Amendment) Bill committee after smashing a glass bottle and throwing it towards the chairman during heated exchanges with BJP MP Abhijit Gangopadhyay. The incident involved the use of unparliamentary language and left Banerjee injured.
After six-hour meet, Sanjay Raut says MVA seat deal done, details will be released on Wednesday (22-10-2024)
Patole and Sanjay Raut have been at loggerheads over the seat-sharing discussions and hence Thorat was sent in by the party top brass to first speak to Pawar and then Thackeray. The meeting with Pawar and Thackeray was important as both the NCPSP and Uddhav Balasaheb Thackeray Sena faction were demanding seats that the Congress wanted to contest in Mumbai as well as in Vidarbha region.
Third Eye: Inviting Maken’s ‘wrath’ maketh a success story, home is where the heart, & RS Seat, is, AIADMK prepares for showtime (22-10-2024)
Former Congress leader Kiran Choudhry quickly garnered three rewards from BJP, gaining a Rajya Sabha berth and Haryana Assembly seat and ministership for her daughter, Shruti. Meanwhile, AIADMK seeks help from poll strategists after consecutive election losses, and Rameshwar Teli retains his Sunhari Bagh Lane bungalow following his Rajya Sabha nomination.
J&K CM meets Slain doc’s family, vows to bear son’s edu expenses (22-10-2024)
J&K Chief Minister Omar Abdullah visited the family of Dr Shahnawaz Dar, killed in the Gagangir attack. He promised to cover the education expenses of Dr Dar’s son. Accompanied by his advisor and an MLA, Abdullah also expressed condolences and solidarity. The police have detained several suspects and are investigating with high-tech equipment.
Investors subscribe Deepak Builders IPO 12 times offer size on day 2 (22-10-2024)
The initial public offer of engineering and construction company Deepak Builders & Engineers India Ltd got subscribed 12 times on the second day of share sale on Tuesday.
The Rs 260 crore initial share sale received bids for 10,75,78,932 shares against 89,67,061 shares on offer, according to data available with the NSE.
The non-institutional investors part got subscribed 17.39 times while the portion for Retail Individual Investors (RIIs) received 15.93 times subscription. The category for Qualified Institutional Buyers (QIBs) received 1.08 times subscription.
The Initial Public Offer (IPO) of Deepak Builders & Engineers India Ltd received 4.12 times subscription on the first day of share sale on Monday.
The IPO has a fresh issue of up to 1.07 crore equity shares and an offer for sale of up to 21,10,000 equity shares.
The price range for the offer is fixed at Rs 192-203 per share.
Fedex Securities Private Ltd is the book-running lead manager to the offer.