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Time of India
20-05-2025
- Business
- Time of India
Bajaj Finance lowers deposit rates by upto 50 basis points
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Bajaj Finance on Monday followed top banks in lowering deposit rates on certain tenures to reflect easing policy rates. "These rate cuts are a part of monetary policy transmission , and other large NBFCs will follow soon," says VijayKuppa, CEO, Incred Money. Rates are now up to 50 basis points, or half a percentage point lower, in line with the reduction in policy rates since also lowered rates more on long-tenure deposits, perhaps indicating both the receivable time-lines of Bajaj Finance's assets and stiffer competition for shorter-tenure commitments in a falling rate cycle. This is the second such reduction by Bajaj 18-month deposit will earn the highest interest of 7.4%, while a 24-60 month deposit will earn 7.25%. Short tenure deposits of 12-14 months and 15-23 months will earn 7% and 7.35%, respectively. Senior citizens will get an additional 55 basis points.'Postal deposits and senior citizens savings schemes will work better for senior citizens, given that they are government-backed and there have been no rate cuts there so far,' says Nikhil Gupta, Founder, Sage banking system liquidity has eased, after having remained in a deficit mode for months, easing the pressure on both overnight rates and longer deposits. Top banks have also eased deposit rates Senior citizens savings scheme (SCSS) pays 8.2% for a 5 year tenure, while a postal time deposit pays 7.5% for a 5 year tenure. While there is a cap of Rs 30 lakh per person in a senior citizen scheme, there is no upper limit on postal deposits. Corporate deposits offer some liquidity as investors can withdraw after a 3-month lock in period with some penalty. Gupta believes investors could opt for an 18-month deposit that offers 7.4%.Many senior citizens find fixed deposits simple and easy to understand.'Investors looking to earn more can consider a small allocation to other companies that have not yet cut rates or have a lower rating and pay more,' says Viral Bhatt, Founder, Money recommends Shriram Finance that has an AA rating but pays 9% for a 5-year deposit to senior citizens and Mahindra Finance that has a AAA rating that pays 8.35% for tenures of 36 months and 60 months, respectively, and is yet to cut rates.
Mint
18-05-2025
- Business
- Mint
Upcoming IPOs: Five new public issues, two listings scheduled for next week; check full list here
The primary market is all set to be back in action as two new initial public offerings (IPOs) in the mainboard segment will be opening for subscription next week. Meanwhile, three new IPOs will also open for bidding in the small and medium enterprise (SME) segment. 'The Indian IPO market, which witnessed a record ₹ 1.6 lakh crore in fundraising in 2024, has entered a phase of heightened volatility in early 2025,' said Vijay Kuppa, CEO of InCred Money. Apart from new public issues, the market will also witness two new listings of Integrity Infrabuild Developers Limited IPO and Accretion Pharmaceuticals Limited IPO. Borana Weaves IPO will open for subscription on May 20 and close on May 22. The IPO is a book-building of ₹ 144.89 crore and is entirely a fresh issue of 0.67 crore shares. Borana Weaves IPO price band is set at ₹ 205 to ₹ 216 per share. Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Borana Weaves IPO, while Kfin Technologies Limited is the registrar for the issue. Belrise Industries IPO will open for subscription on May 21 and close on May 23. It is a book-building of ₹ 2,150 crore and is entirely a fresh issue of 23.89 crore shares. Belrise Industries IPO price band is set at ₹ 85 to ₹ 90 per share. Axis Capital Limited, Hsbc Securities & Capital Markets Pvt Ltd, Jefferies India Private Limited, SBI Capital Markets Limited are the book running lead managers of the Belrise Industries IPO, while Link Intime India Private Ltd is the registrar for the issue. Victory Electric Vehicles IPO to open for subscription on May 20 and close on May 23. The SME is a fixed price of ₹ 40.66 crore and is entirely a fresh issue of 56.47 lakh shares. Victory Electric Vehicles IPO price is ₹ 72 per share. Corpwis Advisors Private Limited is the book-running lead manager of the Victory Electric Vehicles IPO, while Maashitla Securities Private Limited is the registrar for the issue. Dar Credit and Capital IPO will open for subscription on May 21 and close on May 23. The SME IPO is a book-building of ₹ 25.66 crore and is entirely a fresh issue of 42.76 lakh shares. The SME IPO price band is set at ₹ 57 to ₹ 60 per share. GYR Capital Advisors Private Limited is the book-running lead manager of the Dar Credit and Capital IPO, while Kfin Technologies Limited is the registrar for the issue. Unified Data- Tech IPO will open for subscription on May 22 and close on May 26. It is a book-building of ₹ 144.47 crore and is entirely an offer for sale of 52.92 lakh shares. The SME IPO price band is set at ₹ 260 to ₹ 273 per share. Hem Securities Limited is the book-running lead manager of the Unified Data- Tech IPO, while Kfin Technologies Limited is the registrar for the issue. Virtual Galaxy Infotech IPO: The allotment for Virtual Galaxy Infotech IPO was finalized on Thursday, May 15. The IPO will be listed on NSE SME on May 19. Integrity Infrabuild Developers IPO: The allotment for Integrity Infrabuild Developers IPO was finalized on Friday, May 16. The IPO will be list on NSE SME with a tentative listing date fixed as Tuesday, May 20. Accretion Pharmaceuticals IPO: The allotment for the Accretion Pharmaceuticals IPO is expected to be finalized on Monday, May 19. The IPO will be list on NSE SME with a tentative listing date fixed as Wednesday, May 21. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
