Market Today
“InCred is strengthening its funding base to support its growth vision. The recently concluded debt issuance is an endorsement of our business model, risk and analytics philosophy and our prudent ALM policies,” said Vivek Bansal, Group CFO, InCred.
Digital lending platform InCred use the debt line to expand its lending operations across segments like consumer, education and small business loans.
2. SoftBank-Backed Fintech Startup Seeks $3.5 Billion Value in IPO
Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms.
Policybazaar is now selecting two to three IPO lead underwriters from a roster that includes several Wall Street banks, said Dahiya, chief executive officer of Policybazaar parent ETech Aces Marketing and Consulting Pvt.
3. Alembic Pharma share price hits 52-week high on tentative US FDA approval for diabetes drug
The company has received tentative approval from the US FDA for its Abbreviated New Drug Application (ANDA) Empagliflozin and Metformin Hydrochloride Tablets, 5 mg/500 mg, 5 mg/1000 mg, 12.5 mg/500 mg, and 12.5 mg/1000 mg, as per BSE release.
Alembic now has a total of 126 ANDA approvals (111 final approvals and 15 tentative approvals) from USFDA.
4. South Asia Investment offloads stake in Quick Heal
Jupiter South Asia Investment Company offloaded 3,29,911 shares in Quick Heal Technologies at Rs 118.87 per share.
5. IndiGo to lay off 10% of its workforce due to Covid-19
“From where things stand currently, it is impossible for our company to fly through this economic storm without making some sacrifices, in order to sustain our business operations,” Mr. Dutta CEO said in a statement.
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