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Kotak Pre-IPO AIF raises Rs 1,396 cr, to invest in tech-focused businesses

Kotak Pre-IPO Opportunities Fund, an alternative investment fund (AIF) managed by Kotak Investment Advisors, has raised Rs 1,396 crore in its maiden offering. The AIF will invest in technology-focused late-stage newage businesses. “The fund had initially targeted a corpus of Rs 1,000 crore, which was oversubscribed within three months of launch. The fund exercised its greenshoe option for Rs 386 crore,” the company said in a release.

Yes Bank's loans, advances shrink marginally at Rs 1.63 trn by end of June

Yes Bank's loans and advances fell by a marginal 0.4 per cent to Rs 1.63 lakh crore by the end of June 30, 2021, data from the bank showed on Monday. The loans and advances stood at Rs 1,63,914 crore as of June 30, 2021 as compared with Rs 1,64,510 crore in the year-ago period, registering a marginal decline of 0.4 per cent on a year-on-year basis, Yes Bank said in a regulatory filing. However, the bank said that the figures by June end this year are provisional and subject to the approval of the audit committee, board of directors, and statutory auditors.

Walmart's Myntra sees 1.2 million customers shop on Day-1 of sale event

The first day of Walmart-owned online fashion retailer Myntra’s flagship event End of Reason Sale (EORS) witnessed shopping by over 1.2 million customers, purchasing 4 million products. The Bengaluru-based firm recorded the highest-ever opening day traffic sessions growth for Myntra, at 200 per cent over BAU (business-as-usual). Nearly 53 per cent of firsttime customers came from Tier 2-3 and beyond making their first purchase on Myntra, giving the 14th edition a major fillip.

Paytm to file draft prospectus next week for $2.3-bn IPO: Report

One97 Communications Ltd, the parent of Indian payments firm Paytm, will file a draft prospectus as early as July 12 for a domestic initial public offering (IPO) that seeks to raise $2.3 billion, two sources close to the matter said on Monday, Reuters reported. The money will be raised via sale of new Paytm stock as well as secondary offering of shares at an expected valuation of $24 billion to $25 billion with an option to raise the amount at a later stage if required, the sources said, declining to be named as the matter is not public.

HDFC Bank's loans rise 14.1% in June quarter, advances total Rs 11.47 trn

Country's largest private lender HDFC Bank posted a 14.4 per cent growth on Year-on-Year (Y-o-Y) basis in loans in Q1FY22 and just 1.3 per cent over the preceding quarter ended March 2021 (Q4FY21). The bank, in a filing with the BSE, said advances aggregated to Rs 11.47 trillion as of June 30, 2021 as against Rs 10.03 trillion in June 2020 and Rs 11.32 trillion in March 2021. Retail loans expanded 9 per cent on Y-o-Y basis over June 2020 and at a lower pace of 1 per cent sequentially over March 2021. The commercial & rural banking loans grew by around 25 per cent over June 30, 2020 and around 4 per cent over March 31, 2021.

Tech Mahindra partners StaTwig for Covid-19 vaccine supply chain

IT major Tech Mahindra on Monday said it has partnered with StaTwig, a Singapore and Hyderabad-based digital supply chain solution provider, to implement vaccine traceability platform 'VaccineLedger' globally. The companies aim to roll-out a blockchain-based traceability solution for global vaccine supply chain transparency, predict and prevent failures in supply chains, including problems related to expired vaccines, stock out and counterfeiting, a statement said.

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