IIFL Home Finance invests Rs 250 mn for 5% stake in RDCL
IIFL Home Finance announced on that it would be investing Rs 250 million to acquire a 5 per cent stake in the RMBS Development Company consortium as a founding member.
A group of financiers, which includes ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Housing Finance, Aditya Birla Housing Finance, Hero Housing Finance, and Grihum Housing Finance, had partnered with National Housing Bank and LIC to establish RMBS Development Company (RDCL) with an investment of Rs 5 billion.
According to a statement by IIFL, RDCL aims to rejuvenate the residential mortgage-backed securities (RMB..
Fairfax to give $200 million in liquidity support to IIFL Finance
In response to the Reserve Bank of India's directive barring it from disbursing gold loans, IIFL Finance has revealed that its major shareholder, Fairfax India, will extend up to $200 million in liquidity support. With Fairfax India holding approximately 15% stake in IIFL Finance, this move aims to ease liquidity concerns among investors and lenders triggered by the RBI's directive.
We have been long-term investors in the IIFL group of companies and have full trust and confidence in the company's strong management team led by Nirmal Jain and R Venkataraman, said Prem Watsa, chairman o..
Prominent players eye Renaissance Indus Infra in insolvency bidding
TVS Motor Unveils Electric Two-Wheeler
TVS Motor Company, a leading two-wheeler manufacturer in India, has unveiled its latest addition to the electric vehicle segment with the launch of the TVS iQube Electric in Bengaluru. This move marks the company's foray into the burgeoning electric vehicle market, aligning with the global shift towards sustainable mobility solutions.
The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..
Chinese EV Giant Leapmotor Eyes Indian Market
Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.
Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..