Latest news with #AathiraVarierMumbai
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Business Standard
4 days ago
- Business
- Business Standard
Surety bonds' market faces multiple growth challenges despite govt push
The issuance of such bonds remains muted due to several challenges, such as collaboration between banks and insurance firms, data sharing, and regulatory parity, among others Aathira Varier Mumbai Listen to This Article Despite a regulatory and government push, surety bonds — touted as an alternative to bank guarantees — have not gained as much traction as was initially expected. This is largely due to legal challenges in recovery, as insurers are not treated on par with banks under the Insolvency and Bankruptcy Code (IBC), and lack of reliable data which affects accurate pricing and discourages participation from reinsurers. Surety Bond insurance acts as a risk transfer mechanism protecting the project owner from potential losses if the contractor fails to fulfil their contractual obligations. They are legally enforceable tripartite contracts that guarantee compliance,
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Business Standard
5 days ago
- Business
- Business Standard
BimaPay targets Rs 5,000 cr corporate insurance premium financing by FY30
The company will cover all sectors including IT, logistics, healthcare, manufacturing and more, offering products such as group medical, fire and group personal accident insurance Aathira Varier Mumbai Listen to This Article BimaPay Finsure, an insurance premium financing company, has ventured into the corporate insurance segment and aims to finance over Rs 20 crore worth of premiums by the end of FY26. Currently focused on retail insurance, it targets Rs 5,000 crore overall disbursement by FY30. The company will cover all sectors including IT, logistics, healthcare, manufacturing and more, offering products such as group medical, fire and group personal accident insurance. According to BimaPay Finsure, upfront insurance premiums can cause cash flow issues for many businesses, leading some to delay or reduce coverage. The company plans to charge these entities an interest
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Business Standard
20-05-2025
- Business
- Business Standard
UGRO Capital to raise up to Rs 915 crore through preferential CCD issue
UGRO Capital's board approves Rs 915 crore capital raise via CCDs; capital adequacy to improve from 19.41% to 29.4%, with rights issue of Rs 400 crore also planned Aathira Varier Mumbai Listen to This Article UGRO Capital on Tuesday said its board has approved raising up to Rs 915 crore through a preferential issue of compulsorily convertible debentures (CCDs). Post the capital raise, UGRO's capital adequacy is expected to improve to 29.4 per cent from 19.41 per cent at the end of FY25, providing significant headroom for growth. In June 2024, UGRO Capital had raised capital commitments of Rs 258 crore through CCDs and Rs 1,007 crore through warrants, totalling Rs 1,265 crore. These instruments were issued at a conversion price of Rs 264 per share. The new CCDs will be issued at
