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Apollo Tyres eyes becoming $5 bn firm by 2026 as auto mkt, exports improve

Apollo Tyres Ltd is planning to become a $5 billion company by 2026 on the back of Apollo and Vredestein's dual brand strategy, an improving economy, higher exports and a sharp recovery in India's automobile sector. The next five years will be about consolidation and reaping the benefits of investments made in technology, capacity and brands over the last five years, said Satish Sharma, president-Asia Pacific, Middle East and Africa.

India Post Payments Bank teams up with HDFC for offering home loans

India Post Payments Bank (IPPB) and HDFC has entered into a strategic alliance to offer home loans to nearly 4.7 crore customers of the payments bank. Leveraging its country-wide network of 650 branches and over 1,36,000 banking access points (Post offices), IPPB aims to make HDFC's home loan products and its expertise available to its customers across India, HDFC said in a statement. A Memorandum of Understanding (MoU) on the strategic alliance was signed between IPPB and HDFC Ltd on Monday.

Mahindra Lifespace Q2 profit at Rs 13 cr; revenue up 76% at Rs 65.7 cr Realty firm

Mahindra Lifespace Developers Ltd on Tuesday reported a consolidated net profit of Rs 13.23 crore for the quarter ended September on rise in total income. The company, which is a part of the Mahindra group, had posted a net loss of Rs 13.48 crore in the year-ago period. Total income for the second quarter rose to Rs 65.70 crore from Rs 37.42 crore in the corresponding period of the previous year, according to a regulatory filing. The consolidated PAT, after non-controlling interest, stood at Rs 6.52 crore for the quarter ended September as against a loss of Rs 13.33 crore in Q2 of FY21. Arvind Subramanian, Managing Director & Chief Executive Officer, Mahindra Lifespace Developers Ltd, said, "We have seen encouraging demand growth in both our residential and industrial parks businesses in Q2 FY22. Further, project execution has gained pace."

Snapdeal strengthens board with two additions ahead of its Rs 3,000 cr IPO

SoftBank-backed Snapdeal that is likely to file its draft red herring proposal in the next few months has strengthened its Board with key appointments. These include Kaushik Dutta, the Chairman of Zomato, and who is also on the Boards of Policy Bazaar & HCL Infosystems; and Richa Arora, Managing Director and CEO for Environmental, Social and Governance (ESG) Stewardship Services at ECube Investment Advisors and has also been on the Board of Tata Group's e-commerce venture. The two are said to be the new additions on the board ahead of its Rs 3,000 crore ($400 million) IPO.

Fino Payments Bank IPO to open on Oct 29; price band set at Rs 560-577

Fino Payments Bank on Tuesday said it has fixed a price band of Rs 560-577 a share for its Rs 1,200-crore initial public offering, which will open on October 29. The three-day initial share-sale will conclude on November 2, the company announced in a virtual press conference. The initial public offer (IPO) includes a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 15,602,999 equity shares by the promoter Fino Paytech.

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