ThirstyBulls™’s Post

𝗡𝗕𝗖𝗖 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝘀 𝟭:𝟮 𝗕𝗼𝗻𝘂𝘀 𝗦𝗵𝗮𝗿𝗲 𝗜𝘀𝘀𝘂𝗲 𝗔𝗺𝗶𝗱 𝗦𝘁𝗿𝗼𝗻𝗴 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 NBCC (India) Ltd. has approved the issuance of bonus shares in a 1:2 ratio, meaning shareholders will receive one new share for every two existing shares. The company will issue 90 crore new shares, utilizing ₹90 crore from its reserves. The record date for eligibility is set for October 7, 2024. This move follows NBCC's robust financial performance, marking its highest-ever turnover and profits in FY 2023-24. #finance #NBCC #StockMarket #BonusShares Source:- https://lnkd.in/gh5R6g4n

NCBA Group posted a net profit of Ksh9.8 billion for the first half of 2024, representing a 5% increase compared to the same period last year. Profit before tax reached Ksh12.2 billion, and shareholders will receive a dividend of Ksh2.25 per share. Total assets grew to Ksh689 billion. The Directors of NCBA Group have recommended an interim dividend of Kshs 2.25 per share, a 28.6% increase from the Kshs 1.75 per share paid in H1’2023.

The government may decide to dilute 11.36 percent stake in IRFC, fetching the government around Rs 7,600 crore. The government currently holds an 86.36 percent stake in the financing arm of the Indian Railways. The sale of an 11.36% stake in IRFC is particularly aimed at meeting SEBI’s minimum public shareholding requirement, which mandates that listed companies have at least 25% public ownership. Compliance with these norms is crucial for market discipline and broader investor participation. "The success of these stake sales will heavily depend on market conditions and investor sentiment. Given its role as the financing arm of Indian Railways and its recent market performance, IRFC is likely to attract substantial investor interest," Sharma said. MDL is 84.83 percent owned by the government and the Finance Ministry aims to sell up to 10 percent stake in the defence PSU. The Department of Investment and Public Asset Management (DIPAM) aims to sell a 10 percent of RCF and a 20 percent of NFL worth approximately Rs 1,200 crore.

#DIFC continues to drive the future of #finance with outstanding H1 2024 Results. As DIFC celebrates its 20th anniversary, the Centre has surpassed 6,000 active registered companies for the first time, reaching 6,153 companies, marking a 24% year-on-year growth. 820 new companies joined in the past six months. 4,647 new jobs were created bringing the total workforce to 43,787, a 12% increase. The #FinTech and #innovation sector has seen significant growth, with firms increasing by 33% to 1,081. Assets Under Management have surged by 58% to USD 700bn. To meet high demand, DIFC is adding 1.6 million sq. ft. of commercial space. The Centre has been recognised as the number one free zone globally for greenfield FDI projects. Read more: https://lnkd.in/d8Xrgfvy #DIFC20 ##DIFCH12024Results

#DIFC continues to drive the future of #finance with outstanding H1 2024 Results. Read more: https://lnkd.in/d8Xrgfvy #DIFC20 ##DIFCH12024Results

For the year ended December 31, 2023, FCMB Group Plc grew deposits, loans, assets under management, revenue and earnings and improved its environmental, social, and corporate governance scorecard. The Group recorded a profit before tax of ¦ 104.4 billion, a 186 percent year-on-year (YoY) increase compared to N36.6 billion in 2022 and earnings growth across its business segments: Banking Group 212.6 percent, Consumer Finance 67.3 percent, Investment Management 40 percent, and Investment Banking 89.7 percent. Read More: https://lnkd.in/dnwzKrUu #nigeriannewsdirect #newsdirect #FCMB #Dividends

The recent amendment to the Securities Contracts (Regulation) Rules, 1957, lowering the Minimum Public Shareholding (MPS) from 25% to 10% for unlisted companies listing in IFSC GIFT City , is a pivotal regulatory change. It reduces compliance burdens, allowing companies to retain more equity while accessing public markets, making IFSC a more appealing option, especially for growth-oriented businesses. This move is set to attract more companies to list in IFSC, enhancing GIFT City 's stature as a global financial hub. NSE International Exchange (NSE IX) India International Exchange (IFSC) Ltd #GIFTCity #IFSC #IndiaINX #NSEIFSC #PublicListing #MPS #RegulatoryReform #EquityManagement #FinancialServices #GrowthCompanies #GlobalFinance #ComplianceSimplified #CapitalMarkets #BusinessInnovation #InvestmentOpportunities #EconomicGrowth #ListingOpportunities #CorporateListing #FinancialInnovation #IPO #InvestmentStrategy #RegulatoryUpdates #BusinessGrowth #StockMarket #GlobalBusiness #CorporateFinance #Fintech #InvestmentBanking #IndiaFinance #Entrepreneurship #EconomicDevelopment #BusinessRegulation

🌟 Exciting Development: NBCC Ventures into NBFC Realm! 🌟 In a significant move aimed at enhancing financial efficacy, India's esteemed state-run NBCC is poised to launch its own non-banking finance company (NBFC) later this year. This strategic initiative seeks to streamline borrowing costs for pivotal infrastructure projects, potentially resulting in substantial savings of $108 million in interest expenses over the next two years. Key Insights: - NBCC's forthcoming NBFC venture underscores its commitment to fostering financial efficiency and facilitating crucial infrastructure development endeavors. - The decision to establish the shadow lender was deliberated by NBCC's board in March, with plans to finalize the operational structure post-June. - Following the conclusion of the national polls in June, NBCC will pursue approval for the NBFC from the incoming administration. Stay tuned for further updates on this transformative journey as NBCC embarks on this promising venture to catalyze economic growth and infrastructure development. #NBCC #NBFC #InfrastructureFinance #FinancialEfficiency #InvestmentOpportunity #EconomicDevelopment #FinanceIndustry #InfrastructureProjects #BusinessNews #IndiaDevelopment #FinancialInnovation #Leadership #StrategicInitiative #InvestmentStrategy #EconomicGrowth #InfrastructureInvestment #FinanceLeadership #LinkedInFinance #FinanceProfessionals

Recently came across a ruling by NCLAT which highlights a key procedural issue faced during the voluntary liquidation/liquidation process. Whether claims arising after the Liquidation Commencement Date can be accepted under the IBC framework. I have tried to analyse the order in view of the liquidation regulations and practical dilemma being faced by the Liquidator during the voluntary liquidation/liquidation process. #Businessclosure #liquidation #voluntaryliquidation #IBC #NCLAT #NCLT

*9 NBFCs surrender certificate of registration* RBI said _9 NBFCs have surrendered their certificate of registration_ . Of these, 5 NBFCs have surrendered their CoR *as they have exited from the NBFC business.* These NBFCs are Vigfin Holdings, Strip Commodeal, Allium Finance, Eternite Finvest, and Fino Finance. 3 NBFCs, Allegro Holdings, Temple Trees Impex and Investment, and Hem Financial Services, have _surrendered their certificates after meeting the criteria for unregistered Core Investment Company_ that do not require registration. *Ujjivan Financial Services Ltd* surrendered the CoR as it ceased to be a legal entity *due to amalgamation.*