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IIFL Home Finance to raise nearly ₹3,000 crore through bond issue: Report | Mint

LivemintLivemint · 1y ago
IIFL Home Finance to raise nearly ₹3,000 crore through bond issue: Report | Mint
Medial

- IIFL Home Finance plans to raise approximately ₹3,000 crore through a public issue of bonds. - The lead managers for the bond issue are Trust Investment Advisors and IIFL Securities, both rated AA by Crisil and India Ratings. - The details of the bond issue have not been finalized yet. - IIFL Finance is aiming to raise ₹10,000 crore through debt between October and March to recover from the RBI's ban on issuing gold loans. - The RBI recently lifted the ban on IIFL Finance's gold loan business, resulting in a surge of over 12% in the company's shares. - HSBC upgraded IIFL Finance stock to 'hold' from 'reduce' after the RBI's decision, with a higher target price of ₹540, and increased its earnings per share estimates.

Ola Electric’s 2W market share declines to 24.5% in November

EntrackrEntrackr · 10m ago
Ola Electric’s 2W market share declines to 24.5% in November
Medial

India's electric two-wheeler market recorded a 29% year-on-year growth in November, with total sales exceeding 118,000 units. However, on a month-on-month basis, the segment registered a nearly 15% decline compared to October, according to Vahan data. Ola Electric retained its position as the market leader with 29,191 units sold, which accounted for 24.54% of the EV two-wheeler market. The Bhavish Aggarwal-led company’s market share has seen fluctuations over the past six months. In October, its market share rose to 30% from 27% in September. However, this remains lower than its earlier shares, which were 32% in August, 39% in July, and a peak of 49% in June. TVS Motor and Bajaj Auto remained in close competition in November with sales of 28,200 and 27,400 units, respectively. The two companies also closed the gap with Ola Electric, capturing 23% and 22% of the market share, respectively. Ola Electric’s arch rival Ather Energy secured the fourth position with 15,800 units, while Hero MotoCorp's electric division recorded 3,300 units. Ather, which is also on the verge of listing on the stock exchange, controls 11% share in EV two wheelers space. Similar to its performance in the EV two-wheeler market, Ola Electric’s share price has also seen fluctuations in recent months. In November, its shares were trading at Rs 72.72, nearly 54% lower than their peak of Rs 157.53 in mid-August. However, last week, the stock surged by nearly 30% following the announcement of a new scooter range. This new range, designed primarily for commercial use in commerce and deliveries, is expected to boost the company’s sales in the coming months. In Q2, Ola Electric recorded a 26% decline in its operating revenue to Rs 1,214 crore when compared to Rs 1,644 crore in Q1 FY25. However, the firm registered 39% year-on-year increase in revenue from Rs 873 crore in Q2 FY24. The company posted a net loss of Rs 495 crore during the September quarter.

Pristyn Care crosses 100 ICU units, expands to 11 owned hospitals

EntrackrEntrackr · 14d ago
Pristyn Care crosses 100 ICU units, expands to 11 owned hospitals
Medial

Pristyn Care crosses 100 ICU units, expands to 11 owned hospitals Founded in 2018 by Harsimarbir Singh, Vaibhav Kapoor, and Garima Sawhney, Pristyn Care had earlier made headlines by launching five hospitals in just 75 days, signaling its ambitious growth strategy. Healthcare startup Pristyn Care has launched three new super-specialty hospitals in Pune, Indore, and Hyderabad, taking its total owned hospitals to 11 and surpassing 100 ICU units across India. According to the press release, in the last 2.5 quarters, Pristyn Care has scaled aggressively, which now operates over 700 beds, 30 modular operating theatres, and over 100 ICU beds, supported by 700+ medical professionals across 300,000 sq. ft. of clinical facilities. The new hospitals expand the company’s specialties to include Gastroenterology, Bariatric Surgery, Intensive Care, Nephrology, Gynaecology, and Neurology, equipped with state-of-the-art diagnostic facilities such as MRI and CT scans. A spokesperson said, “Today, we are not merely expanding, we are redefining the boundaries of care. By strengthening our presence in Hyderabad, Pune, and Indore and deploying over 100 ICU units, we reaffirm a simple yet powerful promise: no life should wait.” By the end of this financial year, the company aims to scale to 500,000 sq. ft., with over 1,000 beds, 200-plus ICU units, and more than 50 modular operating theatres. With a mix of owned hospitals and partner facilities, Pristyn Care continues to build a tech-enabled, patient-centric ecosystem, aiming to make advanced healthcare accessible to every Indian.

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