MD & CEO Mohapatra said Central Bank will introduce repo rate-linked retail loan products by next month.
RBI has also set framework to build regulatory sandbox for innovation in fintech. Banks Board Bureau has begun its hunt for BoI, PNB heads
While Yes Bank fund raising may have helped in restoring confidence in the banking sector to some extent, the story may vary for other lenders, especially state-run banks.
Yes Bank closed the QIP on August 14 totalling Rs 1,930.4 crore at an issue price of Rs 83.55 per share.
The state-owned bank will take the Qualified Institutional Placement (QIP) route for fund raising and has started the process of shortlisting advisors, the bank’s MD and CEO Rajkiran Rai G said on August 2.
As of now, the bank plans to launch the issue in September, post its results.
Borrowing cost is likely to further go up by 20-30 basis points in the April-June quarter, before stabilizing in the coming quarters.
On Monday, DLF, the country's largest real estate firm in market value, had launched its qualified institutional placement (QIP) offering up to 17.3 crore shares to investors.
The Chennai-headquartered lender said it has raised funds at the rate of Rs 72 per share.
The board of the bank, in its meeting held on Thursday, also approved raising Rs 500 crore from tier-II bonds.
The firms had raised Rs 31,153 crore during the corresponding period of the previous financial year
With this QIP issue, the promoters' stake in the company has come down to 24.5 percent from the pre-issue level of 27 percent, chief financial officer Kailash Baheti told PTI over phone today, adding the QIP issue was closed last Friday.
The funds would be utilised to reduce debt, including those of its subsidiaries, and for general corporate purposes, RPower said in a statement.
As per the latest data available with the Securities and Exchange Board of India, the capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 58,520 crore in the first 10 months of 2017-18.
The company has issued 51,502,145 equity shares of face value of Rs 1 each at a price of Rs 233 per share, including a premium of Rs 232, JSPL said in a regulatory filing.
"The decision to drop the QIP plan has not been taken because of the Prompt Corrective Action (PCA). It was taken before the PCA (by RBI).
"The price, time of the issue etc will be intimated in due course," South Indian Bank said in a filing on stock exchanges.
The bank had floated offer for raising Rs 3,000 crore with green shoe option of Rs 2,000 crore, which were fully subscribed, sources said.
The committee of directors for capital mop-up at a meeting approved opening of the QIP, Punjab National Bank (PNB) said in a regulatory filing on stock exchanges.
The extra-ordinary general meeting (EGM) of shareholders of the bank was held today, PNB said in a regulatory filing to the stock exchanges.
DLF is required to launch QIP (qualified institutional placement) and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.
The QIP was subscribed by foreign as well as domestic investors like CDPQ, Fidelity, Goldman Sachs, Nomura, HDFC Mutual Fund, Kotak and Birla MFs.
"This is the first equity fund raise by EFSL since its IPO in December, 2007. EFSL allotted 54,562,488 equity shares of face value of Rs 1 each (Equity Shares) to eligible qualified institutional buyers (QIBs) at Rs 280.00 per equity share, at a discount of 1.80 per cent to the QIP floor price of Rs 285.14 per equity share," the company said in a statement.
As per the latest data available with the Securities and Exchange Board of India (Sebi), capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 36,653 crore in the first six months of 2017-18.
The issue committee of the bank has fixed floor price of Rs 30.73 per share, Dena Bank said in a regulatory filing today.