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India.com
9 hours ago
- Business
- India.com
Anil Ambani planning something big, set for a massive comeback with Rs 180000000000 gamechanger plan, what will he do with the money?
Anil Ambani, who once grabbed headlines for his debts and bankruptcy, is once again back in the news—but this time for a different reason. This time, the focus is on the revival of his companies, the reduction of debt, increasing investments, and increasing stock prices. A report recently suggested that after clearing his debts, Anil Ambani's company is raising Rs 18,000 crore. This raises the next question. What is he going to do with this money? What is Anil Ambani's ₹180,000,000,000 plan all about? Once the richest person in the world, Anil Ambani, had gotten himself stuck in the web of debt through a number of unfortunate events and poor decisions. His companies started to face bankruptcy, but now, finally, there seems to be light at the end of the tunnel. Anil Ambani's businesses are beginning to show signs of revival, and some are even turning profitable. Two of his most crucial businesses, Reliance Power and Reliance Infrastructure, have made an astonishing recovery, as already demonstrated by their ever-increasing share price. After getting debt-free, Anil Ambani is ready to raise fresh funds. Reliance Power and Reliance Infrastructure are planning to raise Rs 9,000 crore each, for a total of Rs 18,000 crore in fundraising. Following the news of the fundraising initiative, Reliance Infrastructure shares soared, skyrocketing on Thursday to Rs 404.90. After navigating through a difficult time, Anil Ambani's company Reliance Power is gearing up for a much-awaited fundraising opportunity. In principle, the company's board has approved a mega plan to raise Rs 6,000 crore. Reliance Power plans to use either a Qualified Institutional Placement(QIP) or Follow-on Public Offer(FPO) to raise this amount, along with the issuance of debentures up to Rs 3,000 crore. With respect to Reliance Power's share price, it climbed by 2.40% to Rs 66.09 on Wednesday, resulting in a market capitalization of Rs 27,330 crore. Over six months, the stock has offered 60% returns, while over one year it has provided a remarkable 130% return.
News18
a day ago
- Business
- News18
Indian Overseas Bank to raise Rs 4,000 cr this financial year: MD & CEO
Chennai, Jul 18 (PTI) Public sector Indian Overseas Bank has drawn up plans to raise Rs 4,000 crore during this financial year through various instruments, including Qualified Institutional Placement (QIP), a top official said on Friday. With the proposed plan to fund raise, the Government of India's shareholding in the Chennai-headquartered bank is expected to come down to 90 per cent from the current 94 per cent, the bank's Managing Director and CEO Ajay Kumar Srivastava said here. 'Last year, we raised about Rs 1,440 crore in March. This year we are looking for about Rs 4,000 crore to raise. For that we are talking to various authorities for their approval," he told reporters after declaring the financial performance of the bank. Asked about the kind of instruments that would be used for the fund raise, he said, 'It will be a mix. Most of it will be through QIP (Qualified Institutional Placements). With this, Government of India shareholding will come down to 90 per cent from 94 per cent." To another query on when the fund raise was expected to occur, Srivastava said, 'We expect it will happen by Q3 end or Q4." Indian Overseas Bank reported a 76 per cent jump in net profit to Rs 1,111 crore during the April-June 2025 quarter. The bank had earned a net profit of Rs 633 crore in the same quarter of the previous financial year. Total income of the bank during the June quarter rose to Rs 8,866 crore from Rs 7,568 crore recorded in the same quarter of last financial year. Asked on the drivers for the increase in net profit, he said, the driver is interest income. 'We have been doing quality lending at a healthy rate of interest. So that is one. The net interest income has increased. We have been able to control our expenses to a certain extent and the other income has increased for the bank." he said. 'The third most crucial part is less provisioning requirement and all these factors combined have given 75 per cent increase in net profit", he said. PTI VIJ VIJ KH view comments First Published: July 18, 2025, 19:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
The Hindu
a day ago
- Business
- The Hindu
IOB Q1 net profit surges 75.57% on higher income
State-run lender Indian Overseas Bank's (IOB) first quarter net profit increased 75.57% to ₹1,111 crore from ₹633 crore in the same period last year. 'The growth in net profit was driven by various factors including growth in net interest income, other income,' IOB's Managing Director and CEO Ajay Kumar Srivastava told reporters. The bank's net interest income grew 12.50% to ₹2,746 crore, while other income increased 43.36% to ₹1,481 crore in the first quarter of 2025-2026. Impacted by the repo rate cut by the Reserve Bank of India (RBI), the bank's net interest margin (NIM) declined 2 basis points to 3.04% in the three months ended June 2025 from 3.06% in the comparable period last year. NIMs will normalise by the third or fourth quarter, Mr. Srivastava said. IOB's total deposits grew by 10.75% to ₹3,30,792 crore, while gross advances increased by 14.05% to ₹2,62,421 crore. The bank was able to maintain its Current Accounts and Savings Accounts (CASA) at 43.78% of total deposits, Mr. Srivastava said. IOB's retail, agri and MSME loan book grew 24.69% to ₹1,92,597 crore, accounting for 78.92% of its total advances. Mr. Srivastava said the credit demand from corporates have been subdued and the trend is expected to continue. The bank's net NPA stood at 0.32%, while gross NPA stood at 1.97% as on June 30, 2025. He also said the bank would raise ₹4,000 crore in the third or fourth quarter through various means, including Qualified Institutional Placement. This would reduce the Government of India's stake in the bank by 4% from 94%. The bank is also looking to raise ₹10,000 crore through infrastructure bonds, Mr. Srivastava said.
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Business Standard
a day ago
- Business
- Business Standard
IOB Q1 net up 76% at ₹1,111 cr, eyes QIP for ₹4,000 cr equity in Q3FY26
Chennai-based Indian Overseas Bank (IOB) has posted a 75.57 per cent Year on Year (YoY) increase in net profit to Rs 1,111 crore for the first quarter ended June 2025 (Q1FY26), driven by steady interest income and the sale of priority sector lending certificates (PSLCs). The lender is planning to raise up to Rs 4,000 crore through a Qualified Institutional Placement (QIP) in the third quarter of the current financial year to dilute government shareholding. Net Interest Income (NII) rose by 12.5 per cent YoY to Rs 2,746 crore, while the net interest margin (NIM) moderated to 3.04 per cent in the reporting quarter from 3.06 per cent in Q1FY25. Non-interest income rose by 43.37 per cent YoY to Rs 1,481 crore in Q1FY26. Ajay Kumar Srivastava, Managing Director and Chief Executive, IOB, said, 'Besides steady growth in Net Interest Income (NII), control on expenses and the sale of PSLCs helped in improving profit after tax.' NIM may take a hit of 5-10 basis points in the near term due to the immediate impact of lending rate cuts following the policy repo rate reduction by the RBI. The deposit rate cut by the lender will impact margins with a lag. NIM is expected to return to a level of 3.25 per cent by Q4FY26, Srivastava said in a post-earnings media interaction. Advances grew by 14.05 per cent YoY to Rs 2.62 trillion. The state-owned bank is focusing on retail, agriculture, and MSME segments, while demand from the corporate segment remains subdued. The bank expects credit to grow by 12-13 per cent YoY in the current financial year, Srivastava added. Total deposits increased by 10.75 per cent YoY to Rs 3.3 trillion. The share of low-cost deposits—current account and savings account (CASA)—stood at 43.78 per cent at the end of June 2025, up from 42.17 per cent a year ago. The lender has guided for 10 per cent growth in overall deposits in FY26. The bank has board approval to raise up to Rs 10,000 crore through infrastructure bonds, which are exempt from meeting the Cash Reserve Ratio and Statutory Ratios. The bank's asset quality improved, with gross NPAs declining to 1.97 per cent in June 2025 from 2.89 per cent in June 2024. Net NPAs also declined from 0.32 per cent in June 2024 to 0.51 per cent in June 2025. The bank's capital adequacy stood at 18.28 per cent, with Common Equity Tier-1 capital at 15.78 per cent at the end of June 2025. IOB plans to raise up to Rs 4,000 crore in equity capital through a QIP in the third quarter, depending on market conditions. This QIP is expected to reduce government holding from 94 per cent to 90 per cent, Srivastava said.
News18
2 days ago
- Business
- News18
SBI's Rs 25,000 Crore QIP Oversubscribed 3x; First Equity Sale Since 2017
The Rs 25,000-crore Qualified Institutional Placement (QIP) by State Bank of India (SBI) has received overwhelming investor interest SBI QIP Sees Strong Demand: The Rs 25,000-crore Qualified Institutional Placement (QIP) by State Bank of India (SBI) has received overwhelming investor interest, with bids exceeding three times the offer size in less than a day, CNBC-Awaaz reported on July 17. Launched on July 16 at a floor price of Rs 811.05 per share—slightly below the last traded price—the fundraising marks SBI's first equity market tap since 2017. The proceeds will be used to boost loan growth, shore up the bank's balance sheet, and meet regulatory requirements. According to the report, bids worth Rs 75,000 crore were received against the Rs 25,000 crore target. LIC, the anchor investor, led domestic participation with a bid of Rs 7,000 crore, followed by Quant Mutual Fund at Rs 3,000 crore. Other participants included HDFC Pension Fund, ICICI Prudential MF, Motilal Oswal MF, and Aditya Birla MF. Foreign institutional interest was also strong, with Nomura bidding for Rs 1,800 crore, while Marshall Wace and Millennium each placed bids worth Rs 1,500 crore. News18 could not independently verify these figures. The bank had earlier secured board approval in May 2025 to raise up to Rs 25,000 crore via QIP, FPO, or other permissible routes in FY26. SBI has appointed six investment banks to manage the issue, including the Indian arms of Citigroup and HSBC, along with ICICI Securities, Kotak Investment Banking, Morgan Stanley, and SBI Capital Markets. This is SBI's first QIP since 2017-18, when it had raised Rs 15,000 crore. As of July 17, SBI shares were trading slightly higher at Rs 835.75 apiece. view comments First Published: July 18, 2025, 10:37 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
