Annai Infra Developers gets SEBI approval to float IPO
Tamil Nadu based Annai Infra Developers Limited, a major player in Water Management and Irrigation EPC – Engineering, Procurement and Construction segment, has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering.
The capital markets regulator issued its final observations on Annai Infra Developers Ltd’s IPO proposal on July 12, 2019, according to information on the SEBI website. Annai Infra Developers Ltd had filed its draft red herring prospectus for the IPO with SEBI on March 30, 2019 this year.
The total IPO size is about Rs 200-250 crore. The IPO will be an offer for sale by Subramaniam Ashok Kumar and Duraisamy Kalaiselvi who are the promoters of the Company.
Pantomath Capital Advisors (P) Ltd are the book running lead managers and LINKIntime are the registrar to the issue to the issue.
The shares of Annai Infra Developers Ltd. are proposed to be listed on BSE Limited and National Stock Exchange Limited.
Piramal Capital launches housing finance business in MP
Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, today announced its foray in Madhya Pradesh with the launch of its housing finance business in Indore.
‘Indore is an important growth market for PCHFL. We are excited to partner with developers & channel partners to strengthen their business and offer housing finance solutions to their customers. Currently, the housing finance business contributes ~10% to PCHFL’s overall loan book, which is expected to increase to 15-18% by March 2020’ informed Khushru Jijina, Managing Director, PCHFL.
PCHFL has 16 branches across 15 cities and will start housing finance operations in Navi Mumbai and Palava in the coming 3-6 months.
Aegon Life Insurance appoints Satishwar Balakrishnan
Aegon Life Insurance announced the appointment of Satishwar Balakrishnan as the new Chief Financial Officer (CFO) of the company. With over two decades of experience in the Insurance and Finance Industry, Satishwar joins Aegon Life from IndiaFirst Life.
‘With addition of Satishwar’s vast experience, we are confident in the ability of our experienced management team to lead Aegon life Insurance into a new phase of profitable growth’ informed Vineet Arora, CEO, Aegon Life
On his appointment, Satishwar shares ‘I look forward to leverage my experience within the life insurance industry to attain and set new achievements and benchmarks’.
Satishwar is a Chartered Accountant by qualification.