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Poonawalla Housing Finance is a lender in the affordable segment of the housing finance market with 128 branches across India. It had its assets under management at Rs 5612 crore at the end of September. It made a net profit of Rs 33 crore in the second quarter of FY23.

Currently, US private equity fund TPG Capital owns a 21% stake in RR Kabel, which is part of RR Global - a $1.25-billion (over ₹10,300 crore) revenue conglomerate in the electrical sector with a presence in more than 90 countries.

The Federal Open Market Committee raised its benchmark rate by 50 basis points to a 4.25% to 4.5% target range. Policymakers projected rates would end next year at 5.1%, according to their median forecast, before being cut to 4.1% in 2024 -- a higher level than previously indicated.

BoB currently holds 98.57 per cent of the total equity share capital of NBL. Details about the process of transaction are given in the PIM, which will be published on Wednesday for inviting EOI from bidders, it said.

The face value of each share has been fixed at Rs 5. The company plans to use the net proceeds from the fresh issue to repay certain loans, and fund its capacity expansion plans, which includes upgrading and expanding its existing facilities at Ghaziabad in Uttar Pradesh, and at Verna in Goa.

“Considered and approved to recommend the issue of bonus shares in the ratio of 1:1 for the approval of the members in the ensuing 37th Annual General Meeting of the Company,” said the company in the filing with the exchanges.

The order came after Sebi issued a show cause notice in June to COT, Jitendra Kumar Ganeshlal Bata, Goutam Sarvar and Mukeshbhai Ramanbhai Muniya for providing investment advisory services without obtaining registration from Sebi in violation of IA (Investment Advisers) norms.

The above five-year paper has a greenshoe option to retain an additional 30 billion rupees, while the 15-year paper will have a greenshoe option to retain an additional 25 billion rupees, taking the total issuance size to 65 billion rupees.

The Dow Jones Industrial Average fell 22.57 points, or 0.07%, at the open to 34,086.07

The sale of the business is expected to enhance shareholders’ value in the long term, as Poonawalla Fincorp focusses on building a tech-led and digital-first financial services company