ICICI Bank: Private sector lender ICICI Bank plans to raise upto Rs 15,000 crore to support business growth and create a buffer to absorb any shocks from economic disruption caused by the Covid-19 pandemic.
SBI, YES Bank: The country’s largest lender, State Bank of India (SBI), has got board approval to invest a maximum of Rs 1,760 in private lender YES Bank’s follow-on public offer (FPO). SBI already holds 48.21 per cent in the private lender after it invested more than Rs 6,000 crore to rescue it.
That apart, SBI, in an exchange filing, informed that SBICAP, its wholly-owned subsidiary, will invest in lnvestec Capital Services to form a joint venture entity.
Can Fin Homes: The Board of Can Fin Homes will meet on 17 July 2020 will consider raising funds by way of issue of equity shares through qualified institutions placement and/or preferential issue to promoters or rights issue and/ or any other permissible securities.
South Indian Bank: South Indian Bank on Wednesday reported a 11 per cent rise in net profit at Rs 82 crore in June quarter of the current fiscal year. The private sector lender had posted a net profit of Rs 73 crore in the corresponding quarter of fiscal year 2019-20.
Signaling a steady revival of the retail segment amid covid-19 pandemic, Phoenix Mills has launched India’s first shopping mall post lockdown period in Lucknow.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.