FINANCE

SRIT plans INR 218 crore IPO, with INR 124 crore planned for working capital

SRIT India's proposed fresh issue has an upper-band ceiling of INR 218.4 crore. Its filed RHP allocates INR 124 crore to working capital and INR 12.86 crore to product modernisation; the residual amount remains subject to issue expenses and final allocation.

Four IPOs seek INR 1,507 crore, with 82 per cent earmarked for the companies

Adroit Industries, German Green Steel, Orient Cables and Runwal Enterprises plan overlapping September offers. Their announced structures allocate about INR 1,243 crore to fresh capital, while selling shareholders account for roughly INR 264 crore before offer expenses.

Moneyview sets INR 32–34 price band for IPO opening September 24

Moneyview’s IPO will open September 24 at INR 32–34 a share, comprising a fresh issue of up to INR 750 crore and an offer for sale of up to 100.49 million shares.

Visa, ISG bring passkey card authentication to five Indian issuers

Visa and In-Solutions Global say five Indian banks are participating in a passkey-based card authentication rollout that replaces SMS OTP entry with device biometrics or PIN for eligible online and in-app payments.

AU Bank says vehicle-finance AUM crossed INR 50,000 crore in August

AU Small Finance Bank’s disclosed vehicle-finance segments total INR 50,485 crore, with pre-owned vehicles accounting for about 35.6 per cent. The September announcement concerns an August milestone and does not disclose the business’s asset quality.

Four IPOs, one deadline: 71 per cent of September's issue money is going to the companies

Four issues are seeking about INR 1,680 crore before restated March accounts go stale on 30 September. Just over seven-tenths of it is fresh issue.

Sonaselection India opens a wholly fresh-issue IPO of about INR 142 crore

The Bhilwara fabric manufacturer opens on 17 September at INR 94 to 99 a share. The entire offer is fresh issue, with no selling shareholders at all.

India's BRICS trade has doubled in five years

India's trade with BRICS rose from USD 203 billion to USD 417 billion in five years. Exports account for USD 96 billion of that, leaving a deficit of about USD 225 billion.

Hero Motors seeks 73 times earnings on a three-year average return on net worth of 7.58 per cent

Hero Motors opens on 16 September at INR 79 to 84 a share, valuing it at INR 3,815 crore. Its fresh issue is down a quarter from its last draft.

L&T Finance adds AI agent flight booking to its PLANET app with Pine Labs

L&T Finance will let AI agents complete flight bookings inside its PLANET app using Pine Labs' payments protocol, the first use case in a planned agentic commerce build-out.

Zuno's blended fuel add-on covers only cars registered after April 2023

Fuel Guard covers specified engine and fuel-system parts against damage caused directly by manufacturer-approved blended fuel. Eligibility starts at cars registered on or after 1 April 2023, which excludes the older cars owners have been asking about.

BondsIndia rebrands as Digifinn

BondsIndia has renamed itself Digifinn and plans a presence in more than 50 cities in five years. It did not say whether its new backer has taken equity.

India led Asia-Pacific fintech investment, on the strength of one Bengaluru round

India drew USD 2 billion of fintech investment in the first half, the largest share in Asia-Pacific. Cred's round alone is 45 percent of that, and deal count was flat.

Axis Mutual Fund opens NFO for a Nifty500 low volatility index fund

Axis Mutual Fund has opened a new fund offer tracking the Nifty500 Low Volatility 50 index. The expense ratio, minimum investment and fund manager were not disclosed.

Two IPOs open this week with 83 percent of the money going to the companies

Steamhouse India and Manika Plastech open within three days of each other. Between them, INR 445 crore of the INR 540 crore sought is fresh issue, an unusual split for a September window.

Three IPOs open on 9 September

Karamtara Engineering, Manipal Payment and Identity Solutions and Rentomojo all open Wednesday and close Friday. The shape of the three offers differs sharply in how much money reaches the companies.

Manipal Payment and Identity Solutions IPO opens 9 September at INR 322 to 339 a share

The card manufacturer, which says it makes over a third of India's credit cards, is raising INR 320 crore in fresh issue alongside an offer for sale by promoter Manipal Technologies.