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A US$1.3 trillion-US$1.5 trillion intergenerational wealth transfer is expected in India over the next decade, according to a Julius Baer-EY report. As wealth changes hands, family offices are taking on a larger role in succession planning, governance and investments, with 40%-45% of allocations in many family offices now going into alternative assets.
Augmont Enterprises has secured strong institutional backing ahead of its stock-market debut, raising ₹246.3 crore from a group of anchor investors. The gold and silver platform is set to open its ₹826-crore IPO on August 21, with the issue comprising a fresh share sale and an offer for sale by its promoters.
HDFC Bank raised $1.75 billion through three- and five-year bonds from its GIFT City branch, in what is understood to be the largest overseas fundraise by an Indian bank since the global financial crisis.
Shares of Welspun Corp Ltd ended at ₹2,011.00, up by ₹36.30, or 1.84%, on the BSE.
Shares of Paradeep Phosphates Ltd ended at ₹148.70, down by ₹2.20, or 1.46%, on the BSE.
The government has re-appointed Mahindra Group Chairman Anand Mahindra as a part-time, non-official director on the RBI Central Board, while also appointing Somanath Sreedhara Panicker.
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Shares of Manipal Health Enterprises Ltd ended at ₹724.25, down by ₹20.30, or 2.73%, on the BSE.
Karur Vysya Bank has raised its MCLR by 5-20 basis points across different tenures, a move that could increase borrowing costs for loans linked to the benchmark.
The investment platform is weighing a mix of new shares and an offer-for-sale as it prepares for a potential public-market debut. The move comes as Upstox expands beyond its core brokerage business, targets 10 crore customers and gains approval to offer US stock investing through GIFT City.
