Naukariadda

SBI Funds Management, a subsidiary of State Bank of India, has filed its red herring prospectus with the Registrar of Companies for its proposed initial public offering. The IPO will open for public subscription on July 14 and close on July 16. Anchor investors will be able to place bids on July 13, one working day before the issue opens. The bidding period for qualified institutional buyers will close on July 15, a day before the public issue closes.The IPO will be entirely an offer for sale of up to 20,37,09,239 equity shares of face value Rs 1 each and seeks to value the company at Rs 1.17 lakh crores. This represents up to 10.0013% of SBI Funds Management’s paid-up equity share capital.SBI will sell up to 12,83,34,397 shares through the offer, representing 6.3% of SBI Funds Management’s paid-up equity share capital. Amundi India Holding will sell up to 7,53,74,842 shares, representing 3.7% of the company’s paid-up equity share capital.Also Read: NSE eyes September launch for $3 bil...

from Economic Times https://ift.tt/jDEqYPQ

New Delhi: The Reserve Bank of India (RBI) may issue broad guidelines on property title searches to streamline the process and curb frauds involving title deeds accepted as mortgage security.The guidelines could prescribe a minimum search period, key documents and records to be verified, as well as precautions to be followed while preparing title search or legal background check reports, said people familiar with the development."The RBI had sought suggestions from banks on this issue. We have, after an internal discussion, sent our inputs stating that the process and other related decisions should be left to individual banks," a bank executive said on condition of anonymity, adding that the RBI may issue broad guidelines to devise the process for title search.132245734Queries emailed to the RBI did not elicit a response till press time.A Supreme Court judgement last year said that the RBI and other stakeholders should collaborate in developing a standardised and practical ap...

Mumbai's property market is witnessing a fresh wave of competition as some of south India's largest real estate developers accelerate their entry into the country's biggest market, attracted by sustained housing demand and high-value redevelopment opportunities. Unlike earlier attempts by out-of-market players, the latest entrants are adopting a calibrated strategy centred on redevelopment projects, joint development agreements and partnerships with local landowners, providing a capital-efficient route into India's most expensive property market. Developers including Prestige Group, Puravankara, Shriram Properties, Sobha, Casagrand and RMZ have either entered or about to enter Mumbai through redevelopment projects and land acquisitions across the Mumbai Region as they seek to diversify beyond their core markets. “Mumbai is one of India's most resilient and aspirational real estate markets, driven by strong end-user demand, a robust commercial ecosystem and a discern...

from Economic Times https://ift.tt/3Q06Cjx

from Economic Times https://ift.tt/KpLNUZD