<ul><li><keyword id="20300508" type="General" weightage="20" keywordseo="bajaj-housing-finance" source="keywords">Bajaj Housing Finance</keyword> is expected to announce its share allotment status on Thursday, September 12.</li><li>The shares of Bajaj Housing Finance were subscribed 63.53 times.</li><li>The shares are expected to be listed on the stock exchanges on September 16.</li></ul>Pune-based Bajaj Housing Finance, a non-deposit-taking Housing Finance Company is expected to announce the allotment status of its initial public offering (IPO) on Thursday, September 12. The <keyword id="21102601" type="General" weightage="20" keywordseo="Bajaj-Housing-Finance-IPO" source="Orion">Bajaj Housing Finance IPO</keyword> opened on September 9 and closed on September 11. The price band for the IPO was ₹66 to ₹70 per share. <h2><keyword id="23091438" type="General" weightage="20" keywordseo="Bajaj-Housing-Finance-IPO-subscription" source="Orion">Bajaj Housing Finance IPO subscription</keyword></h2>On its last day, the Bajaj Housing Finance IPO was subscribed 63.53 times, receiving bids for 4622.63 crore equity shares against 72.76 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 209.36 times, the non-institutional investor's portion was subscribed 41.42 times. The retail portion witnessed decent participation and was subscribed 6.93 times. The employee portion was subscribed 1.98 times. The shareholder portion was subscribed 17.42 times. <h2>Bajaj Housing Finance grey market premium</h2>The shares of Bajaj Housing Finance are currently commanding a grey market premium (GMP) of ₹65 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <h2>How to check Bajaj Housing Finance’s IPO allotment status</h2>You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="23069233" type="General" weightage="100" keywordseo="Bajaj-Housing-Finance-IPO-allotment" source="Orion">Bajaj Housing Finance IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>. </li><li>Click on ‘Company Selection’ and then select ‘Bajaj Housing Finance’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on ‘Search’. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Bajaj Housing Finance IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Bajaj Housing Finance’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <h2>Bajaj Housing Finance listing date</h2>The shares of Bajaj Housing Finance will be listed on the stock exchanges on September 16. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-august-2024/slidelist/113248627.cms">Top 10 selling cars in India in August 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a> <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a>

Bajaj Housing Finance IPO allotment – How to check allotment, IPO GMP, listing date and more

The initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword>) of <keyword id="20879401" type="General" weightage="20" keywordseo="bajaj-housing-finance-limited" source="keywords">Bajaj Housing Finance Limited</keyword> (BHFL) was subscribed to as many as 67 times at the end of the Day 3 window. The portion reserved for the retail investors was subscribed by over 7 times, publicly available data showed. Qualified institutions subscribed about 222 times of the shares reserved for them while Non-institutional buyers booked nearly 44 times, respectively, data showed. <keyword id="8079187" type="General" weightage="100" keywordseo="bajaj-housing-finance" source="Orion">Bajaj Housing Finance</keyword> Limited aims to raise Rs 6,560 crore. The public issue had set a price band between Rs 66-70. Headquartered in Pune, Bajaj Housing Finance Limited (BHFL) offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. The company also provides <keyword id="3722621" type="General" weightage="20" keywordseo="Loans-against-property" source="Orion">loans against property</keyword> for business or personal needs as well as working capital for business expansion purposes. BHFL also offers finance to developers engaged in the construction of residential and commercial properties as well as lease rental discounting to developers and high-net-worth individuals. The IPO consists of a fresh issue of 50.86 crore shares, aggregating to Rs 3,560 crore, and an offer for sale of 42.86 crore shares, totaling Rs 3,000 crore. The proceeds from the fresh issue will reportedly be used to strengthen the company's capital base to support future lending operations. Investors had bid for a minimum of 214 equity shares and in similar multiples thereafter. The minimum amount a retail investor required to bid for the IPO was Rs 14,980. As per reports, the allotment for the IPO is expected to be finalized on Thursday, with a tentative listing on the exchanges on Monday.

Bajaj Housing Finance IPO subscribed about 67 times at the end of Day 3

Pune, <keyword id="19897354" type="General" weightage="20" keywordseo="bajaj-auto" source="keywords">Bajaj Auto</keyword> is developing a portfolio of clean fuel CNG motorcycles, and the first such bike will hit the market in June, Bajaj Auto Managing Director Rajiv Bajaj said here on Friday. The bike will run on CNG and would hit the roads in June, he said while announcing <keyword id="20201280" type="General" weightage="20" keywordseo="bajaj-group" source="keywords">Bajaj Group</keyword>'s commitment of Rs 5,000 crore towards <keyword id="19916939" type="General" weightage="20" keywordseo="corporate-social-responsibility" source="keywords">Corporate Social Responsibility</keyword> (CSR) spent over the next 5 years. The new bike would target mileage-conscious consumers and is expected to launch under a different brand. It is expected that CNG bikes will be priced higher than their petrol counterparts due to the higher cost of manufacturing besides having a special tank to offer petrol and CNG fuel options to offer convenience to customers. Bjaja also said that <keyword id="20050188" type="General" weightage="20" keywordseo="pulsar" source="keywords">Pulsar</keyword> launched 20 years ago will hit 2 million units soon. Meanwhile, the Bajaj Group committed Rs 5,000 crore to social impact initiatives over 5 years, with a focus on skill development, under 'Bajaj Beyond'' the Group's new identity for all its CSR and charitable programmes. This will benefit over 2 crore of tomorrow's youth and enable them to take advantage of the employment and entrepreneurial opportunities offered by India's growing economy. "Social responsibility is deeply entwined in the <keyword id="21052740" type="General" weightage="20" keywordseo="bajaj-family" source="keywords">Bajaj Family</keyword>'s businesses and its philanthropic endeavours through generations. In the last 10 years alone, the Bajaj Group has contributed close to Rs 4,000 crore towards CSR initiatives largely focused on skilling and education, health, livelihood, water conservation, and several other areas of development," Bajaj Auto Chairman Niraj Bajaj said. The Bajaj Group's humanitarian efforts are channeled through several institutions. The <keyword id="21051165" type="General" weightage="20" keywordseo="jamnalal-bajaj-foundation" source="keywords">Jamnalal Bajaj Foundation</keyword>, Jankidevi Bajaj Gram Vikas Sanstha, and the <keyword id="21052739" type="General" weightage="20" keywordseo="kamalnayan-bajaj-hospital" source="keywords">Kamalnayan Bajaj Hospital</keyword>, among others, have worked unceasingly to uplift and empower communities, he said. The Group stays firmly committed to co-creating a thriving and inclusive future for all Indians, he added. Bajaj Group companies include Bajaj Auto, Bajaj Finserv, Bajaj Electricals, and Mukand Ltd. "Launching the Bajaj Engineering Skills Training (<keyword id="19925221" type="General" weightage="20" keywordseo="best" source="keywords">BEST</keyword>) last year has been a valuable learning experience for us. It gave us a very clear picture of the critical gap between theoretical education and practical skills needed in the manufacturing industry. The insights gained through BEST acted as a cornerstone in laying down the groundwork. With Bajaj Beyond, we will expand our skilling efforts across the group," Rajiv Bajaj said. "You do not change the world by sloganeering. Saying Make in India does not change the world; saying Aatmanirbhar does not change the world; saying vocal for local does not change the world; saying Viksit bharat does not change the world. "Words would not change the world, unless you have the skills to put those words into action. It would certainly not change the world by saying I will spend tens of thousand of crores of rupees on CSR or that I want to touch billions of lives," he added. Speaking at the event Sanjiv Bajaj, Chairman &amp; Managing Director, Bajaj Finserv, said, "Skilling has been at the heart of our social impact initiatives and we have seen the positive multiplier effect it has on the well-being of youth and their families. Our Certificate Programme in Banking, Finance and Insurance (CPBFI) prepares youth for employment in the fast-expanding financial services sector which is currently seeing a shortage of talent." With Bajaj Beyond, Bjajaj Finserv commits to strengthening India's skilling ecosystem, especially in the hinterland, enabling greater access to economic prosperity, he added.

Bajaj Auto working on CNG bike, to hit road in June: MD

<ul><li><keyword id="111876" type="General" weightage="20" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword>’s market cap overtakes that of <keyword id="45123" type="General" weightage="20" keywordseo="hdfc" source="Orion">HDFC</keyword>, one of the largest home financing companies.</li><li>With this, Bajaj Finance is now the eighth largest company on the exchanges in terms of market cap.</li><li>The market capitalisation of the NBFC became ₹4.18 lakh crore more than that of HDFC at ₹4.17 lakh crore.</li></ul>Pune-based financial services company, Bajaj Finance, has now become the eighth largest company in the Indian market in terms of market capitalisation, even surpassing home financier major Housing Development Finance Corporation. Bajaj Finance is putting its best efforts to grow a digital community for its lending and credit business. It has now brought all its offerings under one app and has also done away with more physical credit cards. The app allows customers to secure loans, repay, get EMI cards, track their FDs, house insurance, investments etc. For future growth, the company is expecting investments from global giants for capital and technology partnerships. Bajaj Finance is also eyeing a banking license with its huge loan book. “We expect the digital transformation to start bearing fruit in terms of better cross-sell from the second half of FY23,'' said a Bernstein Research report. In fact, analysts believe the depth of offerings on the BAF app are in line or even better than apps of the large private sector banks. This offers Bajaj Finance a new lever for customer acquisition, engagement, and cross-sell. The market capitalisation of Bajaj Finance became ₹4.18 lakh crore more than that of HDFC at ₹4.17 lakh crore. Shares of Bajaj Finance surged more than 2% today as market momentum picked up slightly <a href="https://www.businessinsider.in/stock-market/news/indian-stock-market-is-bummed-out-for-at-least-three-reasons-and-none-of-them-are-going-away-in-a-hurry/articleshow/89561390.cms">after a stressful day on February 14</a>. India top ten biggest companies listed on the stock exchange <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><thead><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Top 10 large companies </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Market capitalisation </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Reliance Industries </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹16.10 lakh crore </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">TCS </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹13.99 lakh crore </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">HDFC Bank </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹8.29 lakh crore </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Infosys </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹7.24 lakh crore </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Hindustan Unilever </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹5.39 lakh crore </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">ICICI Bank </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹5.26 lakh crore </th></tr></thead><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.53 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.18 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4.17 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.88 lakh crore </td></tr></tbody><tbody></tbody></table>Later, shares of Bajaj Finance came down slightly and at par with HDFC. On the other hand, home finance company HDFC is also doing well with strong demand but with multi-year low home loan rates. Adding to it, shares of other listed group companies have been underperforming the market for a long time now. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last one-year </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+24.10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+55.78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18.96% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.08% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.49% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Asset Management Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-26.85% </td></tr></tbody><tbody></tbody></table>Shares of the company will rise more as the core business i.e. home lending has got potential and is well on track to get transformed into an adaptable new age fin-tech, said analysts at ICICI direct. The brokerage firm expects the price to rise by 37% to ₹9,500 per share. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Capital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,700 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,500 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bernstein Research </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,440 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,500 </td></tr></tbody><tbody></tbody></table>High return ratios, superior asset quality, high growth rates, which bounced back very fast post lockdowns and digital initiatives will keep multiples of Bajaj Finance well above best-in-class banks (like <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Kotak Mahindra) and be at par with companies like SBI Cards, said analysts at Axis Capital. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/these-are-discounts-and-perks-for-lic-policyholders-will-get-while-applying-for-the-ipo/articleshow/89585424.cms">These are discounts and perks for LIC policyholders will get while applying for the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/rbi-is-hiring-950-assistants-with-a-salary-of-36000-per-month/articleshow/89583515.cms">RBI is hiring 950 assistants with a salary of ₹36,000 per month</a>

Bajaj Finance’s strong digital move made it bigger than home loans giant HDFC

Mumbai, Jan 5 () The <keyword id="50847" type="COMPANY" weightage="20" keywordseo="Reserve-Bank">Reserve Bank</keyword> on Tuesday said it has imposed a penalty of Rs 2.5 crore on <keyword id="111876" type="COMPANY" weightage="20" keywordseo="Bajaj-Finance">Bajaj Finance</keyword> Limited, Pune for violation of various directions, including on recovery and collection practices. There was also violation of a specific direction to the company to ensure full compliance with Fair Practices Code (FPC) in "letter and spirit", the central bank said in a release. "This penalty has been imposed...taking into account the failure of the company to ensure that its recovery agents did not resort to harassment or intimidation of customers as part of its debt collection efforts and thereby failing to adhere to the aforesaid directions issued by <keyword id="30067" type="COMPANY" weightage="20" keywordseo="RBI">RBI</keyword>," it said. There were also persistent/repeat complaints about recovery and collection methods adopted by the company, RBI added. It further said a show cause notice was issued to the company as to why penalty should not be imposed for such non-compliance. After considering the company's reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI concluded that the charge of non-compliance with the directions was substantiated and warranted imposition of monetary penalty, the release said. The RBI, however, added the action against Bajaj Finance is based on deficiencies in regulatory compliance and "is not intended" to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. NKD ABM ABM

RBI imposes Rs 2.5 crore penalty on Bajaj Finance, Pune

<ul><li>At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Wednesday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was down 0.13%, indicating a tepid start for Nifty50. However, <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-200-points-as-investors-await-georgia-run-off-election-results/articleshow/80124817.cms">the US stocks ended higher </a>on Tuesday, as investors took advantage of the previous session's slump to buy back, ahead of the outcome of the Senate elections in the state of Georgia. The Dow Jones Industrial Average closed 167 points higher, and the S&amp;P 500 was up 0.71%. These are the stocks to watch out for during the trading session today: HDFC Bank The country's largest private sector lender HDFC Bank logged in a loan growth of 19% to ₹10,82,000 crore during the third quarter ended December 2020. Meanwhile, the bank's CASA (current account savings account) ratio rose to around 43%, compared to 39.5% in December 2019. BEML BEML has bagged orders worth ₹758 crore for supply of high mobility vehicles from the Ministry of Defence. Hero MotoCorp The government-owned Life Insurance Corporation (LIC) has increased its stake in Hero MotoCorp to 9.16% from 7.14% earlier. Bajaj Finance The Reserve Bank has imposed a <a href="https://www.businessinsider.in/finance/news/rbi-imposes-rs-2-5-crore-penalty-on-bajaj-finance-pune/articleshow/80119118.cms">penalty of ₹2.5 crore on Bajaj Finance</a>, Pune for breaching regulatory compliance norms. RBI also stated that there were complaints about recovery and collection practices. IndiGo India’s aviation regulator has <a href="https://www.financialexpress.com/industry/indigo-gets-edto-approval-for-29-pw-engine-powered-a320-a321neo-planes/2165042/">given the green light for IndiGo </a>to operate its Pratt &amp; Whitney powered Airbus A320/A321 neo fleet on longer overseas routes or as extended diversion time (EDTO) flights. EDTO allows a multi-engine aircraft to divert to a nearby airport in case of an emergency situation and is mainly applicable for international flights. Godrej Consumer Products FMCG player Godrej Consumer Products said it <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/373128e6-db11-4349-a838-73e4e8fc77fa.pdf">expects</a> to deliver "close to low double-digit sales growth" in the domestic market during the October-December 2020 quarter, led by soaps and household insecticides segments. The company has also witnessed a "sharp recovery" in its hair colour segment, which is expected to deliver mid-teen growth. ACC The cement manufacturer ACC has started operations at its new grinding unit in Dhanbad district of Jharkhand. This will result in an additional capacity of 1.4 million tonnes per annum to the existing 3 million tonnes units — taking the total capacity at Sindri to 4.4 million tonnes per annum. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

Top stocks to watch — Bajaj Finance, HDFC Bank, BEML, IndiGo, Godrej Consumer, Hero Moto, and others

Former chairman of the <keyword id="101435" type="General" weightage="20" keywordseo="Bajaj-Group" source="Orion">Bajaj Group</keyword> <keyword id="33278" type="General" weightage="20" keywordseo="Rahul-Bajaj" source="Orion">Rahul Bajaj</keyword> passed away in Pune on Saturday, a company official said. He was 83. Bajaj was not keeping well for quite some time and passed away at around 1430 hrs on Saturday, the official said. His last rites will be held on Sunday. He is survived by two sons, <keyword id="45497" type="General" weightage="20" keywordseo="Rajiv-Bajaj" source="Orion">Rajiv Bajaj</keyword> and <keyword id="68683" type="General" weightage="20" keywordseo="Sanjiv-Bajaj" source="Orion">Sanjiv Bajaj</keyword>, and a daughter <keyword id="788605" type="General" weightage="20" keywordseo="sunaina-kejriwal" source="Orion">Sunaina Kejriwal</keyword>. He resigned from his position of non-executive director and chairman at Bajaj Auto on April 30 last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sebi-bars-reliance-home-finance-anil-ambani-and-3-others-people-from-market-for-alleged-fraud-activities/articleshow/89520549.cms">SEBI bars Reliance Home Finance, Anil Ambani and 3 others people from market for alleged fraud activities</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/ipl-2022-auction-paused-as-auctioneer-hugh-edmeades-collapses-during-bidding/articleshow/89523643.cms">IPL 2022 auction paused as auctioneer Hugh Edmeades collapses during bidding</a>

Noted industrialist Rahul Bajaj passes away at 83

A distinguished billionaire entrepreneur of India, <keyword id="33278" type="PERSON" weightage="20" keywordseo="Rahul-Bajaj">Rahul Bajaj</keyword> is also a philanthropist and Member of Parliament. Rahul Bajaj hails from the business house established by Jamnalal Bajaj and eventually became the chairman of the most prestigious Bajaj Group, an Indian conglomerate. Here are a few interesting <keyword id="8407225" type="UNKNOWN" weightage="20" keywordseo="facts-about-rahul-bajaj">facts about Rahul Bajaj</keyword> which you might not have known. Rahul Bajaj was born on 10 June 1938. Son of an Indian independence fighter Jamnalal Bajaj, his birth happened in a Marwari family. In 2001, Rahul Bajaj got the highest civilian award in the country Padma Bhushan. Rahul Bajaj spoke at length about the marketing scenario in India in an interview connected with a project entitled Creating Emerging Markets at the Harvard Business School and thoroughly criticized the industrial policies of the country before liberalization in the 1990s. Bajaj did his schooling in Cathedral and John Connon School and studied law at Government Law College, Mumbai. He is an alumnus of Harvard Business School in the US and St. Stephen's College, Delhi. Rahul Bajaj took over the Bajaj Group in 1965 and gave a wonderful leadership to the entity till 2005. Following him, his son Rajiv became the managing director of the Group. He became the CEO of Bajaj Auto in 1968 when he was just 30 years. Rahul Babaj got elected to the Upper House of the Parliament for the period between 2006 and 2010. His wealth is estimated at US$ 4.2 in the year 2019. Earlier in 2016, the Forbes magazine ranked him in the 722nd position in the list of world’s billionaires. Rahul Bajaj has three children. His sons Rajiv Bajaj and Sanjiv Bajaj are managing his establishments. His daughter Sunaina is given in marriage to Manish Kejriwal, the former chairman of Temasek India. The Pune based manufacturer has his stakes in firms including Bajaj Holdings and Investments, an investment company, and Bajaj Finserv, which is a leading insurance and consumer finance group in India. The major chunk of Rahul Bajaj’s wealth comes from the company Bajaj Group that was established in the year 1926 by his grandfather Jamnalal. He has a significant investment in Bajaj Auto, one of the largest makers of two wheelers in the world. In 2018, the company made a revenue of 247 billion rupees. Rahul Bajaj has 10% stake in Bajaj Finserv, an insurance and consumer finance provider and 24% stake in Bajaj Holdings &amp; Investment, the holding company, which fall under the Bajaj Group. His other holdings are 2% stake in Bajaj Finance, 14% stake in Bajaj Electrical, a home appliance maker and 19% stake in Mukand, manufacturer of wire rods, alloy castings and steel bars. Pointing out that business was in his blood, Rahul Bajaj once said in an interview at the Harvard Business School, “Given my family background, I knew I wanted to be a businessman by the time I was about 12”. In 2008, he split the Bajaj Auto into three units for the sake of boosting the shareholder’s returns and provided more control in the management to his sons Rajiv and Sanjiv.

Unknown Facts About padma bhushan Rahul Bajaj

<img class="gwt-Image" src="/photo/42250371.cms" /> Non-banking lender <keyword id="111876" type="COMPANY" weightage="100" keywordseo="Bajaj-Finance">Bajaj Finance</keyword>’s board has given its nod to launch a housing finance arm as a wholly-owned subsidiary. It will now apply to <keyword id="152130" type="COMPANY" weightage="80" keywordseo="National-Housing-Bank">National Housing Bank</keyword> for license. 
 "We are already extending home loans but this is under our finance company. We had not floated an HFC (<keyword id="2512221" type="UNKNOWN" weightage="80" keywordseo="house-financing-company">house financing company</keyword>) earlier as we wanted to first build the capabilities and the benefits of a separate entity was not felt as the size of the book was small," said Sanjiv Bajaj, managing director, Bajaj Finserv. 
 
The Pune-headquartered company has its presence in the mortgage sector and almost 40% of its Rs 27,000-crore business is mortgage products.

Bajaj Finance To Seek Licence To Launch
Housing Finance Arm

Pune, Apr 24 () To strengthen the fight against COVID-19, Bajaj Finserv, its subsidiaries and group employees have contributed over Rs 10 crore to the PM CARES fund, the group said on Friday. The group collectively employs around 32,000 and the money is part of their salary. Those contributed include the employees of Bajaj Holdings &amp; Investments and Bajaj Finserv, Bajaj Finance, Bajaj Housing Finance, Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance, Bajaj Finserv Direct and Bajaj Finserv Health, the companies said in statement.The Bajaj Finserv companies have decided to match the employees contribution, thereby doubling the amount to Rs 10.15 crore. The Bajaj group had earlier pledged Rs 100 crore for the same, of which close to Rs 40 crore is already operational through various projects in multiple geographies. * * * * * * *Jubilant Group donates Rs 10 cr to PM CARES fundMumbai: Jubilant Bhartia Group, which is the master franchise of Domino's Pizza and Dunkin' Donuts, has contributed Rs 10 crore to the PM CARES Fund to help mitigate the crisis arising from the pandemic.The donation has come from two group companies, the food services arm Jubilant Foodworks and Jubilant Life Sciences. The contribution of Jubilant Life includes one day gross salary of its 5,300 employees. That apart the group has also taken several measures at the grassroots level in the areas of health &amp; safety, food &amp; ration distribution, sanitization, medical &amp; medicine, distribution of PPEs and support to the administration across various locations. * * * * * * * HCL joins TN govt in COVID fight Chennai: Tamil Nadu government has partnered with software major HCL to set up a disaster management - data analytics centre to strengthen the state's efforts in the face of the coronavirus pandemic.HCL is also helping improve and expand the state's disaster management helpline (1070) through technological upgrade, manpower assistance and effective reporting mechanisms. The centre operates a call centre which is accessible to people across the state and delivers the first level of response in any emergency. * * * * * * *Uber offers Rs 1-cr free rides to Maha COVID fighters Mumbai: Ride hailing app Uber has offered free rides to the Maharashtra government for transporting the frontline healthcare workers who are fighting the COVID pandemic. The agreement is part of Uber's global commitment to offer 10 million free rides to move what matters and UberMedic is already transporting frontline medical workers in 28 hospitals across 14 cities in the state.The free rides offer is for emergency services through the UberMedic service, which will transport frontline healthcare workers, government officials on COVID duties, and support other essential requirements. BEN MR

Bajaj Finserv Group donates over Rs 10 cr for COVID relief

New Delhi, Nov 26 () Shared e-mobility service provider Yulu on Tuesday said it has secured USD 8 million (approximately Rs 57.2 crore) investment from two-wheeler major Bajaj Auto.
 As part of the tie-up, Yulu will source electric two-wheelers from Bajaj Auto which have been co-designed and manufactured exclusively for shared micro-mobility, Yulu said in a statement.
 Bajaj Auto will also consider facilitating vehicle finance needs of Yulu for a large-scale deployment of its micro-mobility electric vehicles, it added.
 "We believe that... congestion reduction and pollution control will drive the segment of shared micro-mobility in the future," Bajaj Auto Managing Director Rajiv Bajaj said.
 That, coupled with the expansion of mass rapid transport systems like Metro in large cities, will further boost the demand for flexible last-mile connectivity, he added.
 "In Yulu, we find an experienced and committed partner with robust achievement of success metrics in a very short time. And this is why we decided to partner with them in their journey of bringing Yulu service to every neighbourhood of urban India," Bajaj said.
 Yulu said the fresh round of investment will be utilised for further strengthening of the mobility platform and deepening of the technology solutions for rapid expansion.
 The company plans to increase its fleet size to 1,00,000 electric two-wheelers by Dec 2020 with an extensive network of its battery-swapping stations across the cities where it operates.
 "Yulu's electric two-wheelers will help Indian commuters with the first and the last mile connectivity option. This partnership aims to solve the mobility challenges of urban India in an eco-friendly manner," Yulu Co-Founder and CEO Amit Gupta said.
 Currently, Yulu is present in Bengaluru, New Delhi, Pune, Greater Mumbai, and Bhubaneswar. MSS RKL ANS
ANS
ANS

Yulu receives USD 8 mn funding from Bajaj Auto

<ul><li>Over 50% of the companies in tech and retail sectors are open to hybrid working models. </li><li>Interestingly, it’s the smaller sized companies who want their workforce to be back at their desks. </li><li>Around 35%-40% of the organisations are embracing the idea of hybrid working, says a survey by <keyword id="3502552" type="General" weightage="80" keywordseo="awfis" source="Orion">Awfis</keyword>.</li></ul>It’s not just tech companies that are ending the work-from-home phenomenon. As per a new report by Awfis, a coworking space network company, the sector that’s most strict when it comes to working out of the office is the pharmaceutical sector. In a survey by Awfis and <keyword id="3196150" type="General" weightage="20" keywordseo="Qdesq" source="Orion">Qdesq</keyword>, 90% of pharma companies surveyed said that they prefer work from the office, with only 10% of them open to hybrid working models. The sectors that are most open to hybrid working models are banking and financial services, engineering and manufacturing – at 70% of them said in the survey. Next comes retail and tech sectors where 50% of those surveyed preferred hybrid working models. The work location preference also varies with size of the company. More than 70% of the smaller firms are in favour of working from the office, while 15% of large firms are on board with hybrid working models. Overall, across sectors and sizes, about 35-40% of companies prefer the idea of hybrid working. Around 45% of corporations are looking for new office spaces including conventional and flex, while 35% of them already instituted a multi-office approach through collaboration with coworking spaces, said Indian <keyword id="15597723" type="General" weightage="20" keywordseo="Flex-Occupiers-Survey-2022" source="Orion">Flex Occupier’s Survey 2022</keyword>. A large chunk of the workforce went back to their hometowns during Covid-19 lockdown and the companies across all sectors had no choice but to pivot to a hybrid work model. The situation has since changed again and organizations are progressively collaborating with flex space operators to ensure the seamless execution of the hybrid work model despite office development in numerous places. “As firms continue to evolve with the changing market dynamics, the workforce expectations, too, have changed with new working models like hybrid, work-from-home, and working from office coming to the fore,” said Paras Arora, founder and CEO, Qdesq. <cmsannotation type="cmsannotation" annotationid="Flex workspaces core to workplace strategy" comment="subhead" text="Flex workspaces core to workplace strategy">Flex workspaces core to workplace strategy</cmsannotation> Sectors like banking, insurance and technology, where employees have already started going to the office again, are expected to lead the demand for office spaces in 2023, the report revealed. Majority of the respondents are looking to collaborate with coworking space players to implement a strategy for a distributed workforce, while 30% of respondents are searching for more affordable alternatives to rental offices to have more financial flexibility, the report said. “The years 2020 and 2021 played a defining role in causing a paradigm shift in Indian occupiers' demands and making Flex workspaces core to their overall workplace strategy. The return of the workforce to offices is now certain and so is the resolute need for flexibility at work which paves a clear path for accelerated growth and expansion of India's flex space market in the coming years,” said Amit Ramani, founder and CEO, Awfis. Top seven cities — Bengaluru, Hyderabad, Mumbai Metropolitan Region (MMR), Pune, NCR, Kolkata and Chennai — account for 20% of the total demand for coworking space in the country, Anarock report said. “Organizations are implementing a set of new workplace strategies in a post-pandemic world, which have been greatly influenced by the circumstances faced during the pandemic,” the Awfis report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/alarming-rise-in-lung-cancer-amongst-non-smokers-women-and-youngsters-study/articleshow/95713544.cms">Alarming rise in lung cancer amongst non-smokers, women and youngsters - Study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/mukesh-ambanis-jio-financial-services-deep-pockets-and-wide-reach-to-challenge-the-likes-of-paytm-bajaj-finance/articleshow/95714425.cms">Mukesh Ambani’s Jio Financial Services’ deep pockets and wide reach to challenge the likes of Paytm, Bajaj Finance</a>

Not IT or banking, but pharma leads the demand for employees' return to offices

<ul><li>Indian markets might open slightly higher as <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the market, was up 0.05%.</li><li>India’s retail inflation data is scheduled to be released today by the Ministry of Statistics and Programme Implementation at 5.30 pm.</li><li>Adani Enterprises, Bharat Forge, Jet Airways are among stocks to watch out today.</li></ul>Markets are expected to open slightly higher mirroring indicator SGX Nifty and as most <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> were trading higher. The US indices ended in the red on Thursday following a jump in treasury yields while investors expected a slowing pace of hike in interest rates by the US Fed after the inflation data came in better than expected. India’s retail inflation data is scheduled to be released today by the Ministry of Statistics and Programme Implementation at 5.30 pm. In June, the consumer price index decelerated to 7.01% from 7.04% in May. On Wednesday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 515 points higher at 59,332 and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> ended 124 points higher at 17,659. Meanwhile, markets may witness less action due to the long weekend. According to Sorbh Gupta, equity fund manager at Quantum Mutual Fund, many factors like — geopolitical challenges, inflation, rising interest rates and social media hullabaloo on an possible US recession next year can make investors nervous to sell into the current rally. “These are times for investors to stay the course in their investment journey to achieve their long-term financial goals. Equity investors should stagger their allocation to equity over a period and move the asset allocation to the optimum level as defined by their asset allocation plan,” said Gupta. Here are some of the stocks that will remain in focus: Adani Enterprises The Adani Group plans to invest ₹57,575 crore to set up an alumina refinery in Odisha. It will set up a 4-million tonnes a year alumina refinery near bauxite mines as well as an iron ore project. Bharat Forge The auto components maker’s net profit rose 7% to ₹160 crore in June quarter as compared to ₹152 crore last year. Aurobindo Pharma The pharmaceutical company’s net profit slipped 32% to ₹520 crore in June quarter while revenues rose 9% to ₹6,235 crore. Bata India The shoemaker has posted a 71% increase in net profit at ₹119 crore and declared the quarter sales, as its ‘highest ever quarterly sales’. Jet Airways (India) The airline’s net loss widened to ₹390 crore for the quarter ended June from ₹129 crore last year. Earnings today Hero Motocorp, Grasim Industries, ONGC, Zee Entertainment Enterprises, Info Edge (India), Muthoot Finance, Apollo Tyres, Hindustan Aeronautics, Power Finance Corporation, Bajaj Electricals among companies to report quarterly earnings. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbi-cancels-license-of-pune-based-rupee-cooperative-bank-says-99-depositors-will-receive-full-refund/articleshow/93480997.cms">RBI cancels license of Pune-based Rupee Cooperative Bank, says 99% depositors will receive full refund</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/videos/business/bollywoods-flops-pose-a-big-risk-to-multiplexes/videoshow/93480304.cms">Bollywood’s flops pose a big risk to multiplexes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/a-startup-founder-was-asked-to-do-a-coffee-run-on-her-first-pitch-now-shes-among-indias-richest-women/articleshow/93480578.cms">A startup founder was asked to do a coffee run on her first pitch, now she's among India's richest women</a>

Markets may open slightly higher as they await Indian inflation data

<keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword>, The <keyword id="36730" type="COMPANY" weightage="20" keywordseo="Mumbai-Police">Mumbai Police</keyword> has nabbed a self-styled spokesperson of Mumbai's '<keyword id="81633" type="PERSON" weightage="20" keywordseo="Dabbawalas">dabbawalas</keyword>' for an alleged <keyword id="68347" type="PERSON" weightage="20" keywordseo="Loan-fraud">loan fraud</keyword> in the name of 61 dabbawalas by promising to give them free scooters, an official said here on Tuesday. "A team of our officials picked up the accused, <keyword id="1040812" type="PERSON" weightage="20" keywordseo="Subhash-Talekar">Subhash Talekar</keyword>, from his village in Pune district and brought him to Mumbai early on Tuesday. He will be produced before a Magistrate Court shortly," Ghatkopar Police Station's Senior Police Inspector Nitin Alaknure told IANS. Besides Talekar, another accomplice in the alleged loan fraud, Vitthal Sawant is absconding and the police are on the lookout for him. Alaknure said that the fraud - amounting to around ₹7,00,000 - was being perpetrated since 2014, and a complaint was lodged against Talekar in 2019. "Thereafter, investigations were carried out in the matter, but there were hurdles during Covid-19 pandemic and lockdown. He had also moved the <keyword id="48485" type="COMPANY" weightage="20" keywordseo="Bombay-high-court">Bombay High Court</keyword> for anticipatory bail which was rejected after which we took the action," Alaknure added. The official body of dabbawalas, Nutan Mumbai Tiffin Box Suppliers Charitable Trust (NMTBSCT) Chairman Ulhas Muke welcomed the development and said the accused has been "ruining the good image" of dabbawalas with such fraudulent practices. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-hdfc-tech-mahindra-lt-bajaj-finance-iifl-securities-sun-pharma-and-others/articleshow/80107597.cms">Top stocks to watch — HDFC, Tech Mahindra, L&amp;T, Bajaj Finance, IIFL Securities, Sun Pharma, and others</a> <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/india/news/bharat-biotech-sees-rivals-conspiracy-in-all-the-criticism-for-the-approval-for-covaxin/articleshow/80099818.cms">Bharat Biotech sees rivals’ conspiracy in all the criticism for the approval for Covaxin</a>

Mumbai's 'dabbawala' nabbed in loan fraud for promising 61 dabbawalas free scooters

<img class="gwt-Image" src="/photo/48141834.cms" />Chairman and founder of Lodha Group, Mangal Prabhat Lodha, has put a succession plan in place to avoid any confrontation between his two sons in future. 
In this regard, Lodha is dividing the empire into two clear businesses - real estate and financial services. 
 
While the real estate will be helmed by elder son Abhishek, younger one Abhinandan will head the financial services, which will be engaged in housing finance, asset reconstruction and wholesale lending. 
 
Though the companies will function independently, they both will use the Lodha brand. A holding company will control both these companies. 
 
One of the people familiar with the news told Economic Times that the company's employees were informed about the impending changes in a town-hall meeting held by Lodha and Abhishek last week. 
 
A formal announcement to all stakeholders is likely to be made this week. 
 
A well-placed source told ET that Lodha turns 60 later this year and he was keen to put a succession plan in place. 
 
"Many proposals were discussed in the past four months. Mr Lodha was very keen not to divide the real estate business but use group resources to nurture the financial services business, much like what Rahul Bajaj did for his two sons Rajiv and Sanjiv," a source familiar with the reorganisation told the financial daily. 
 
Reportedly, Lodha will have 80% stake in the holding company while the balance 20% will be owned by Abhishek, Abhinandan and some family members. 
All three companies will have Lodha and both his sons on their boards. 
 
ET stated Abhishek is the group's managing director while Abhinandan is designated deputy managing director. The group's real estate business, Lodha Developers, clocked revenue of Rs 8,000 crore in 2014-15. 
 
Meanwhile, nearly 30 employees of Lodha Developers will be shifted to the new financial services company and hiring for this unit will start later. 
 
Abhishek, 36, and Abhinandan, 33, joined the family business in 2003. While the elder son looks after construction as well as functions such as legal, marketing, corporate planning and strategy, Abhinandan is responsible for sales, taxation and finance. 
 
Lodha Group, founded in 1980, is currently developing an estimated 43 million sq ft of real estate projects, mostly in the Mumbai metropolitan region and there are 28 ongoing projects across London, Mumbai, Pune and Hyderabad. 
 
(Image: Indiatimes)

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Not IT or banking, but pharma leads the demand for employees' return to offices

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Markets may open slightly higher as they await Indian inflation data

Bhakti Makwana

Mumbai's 'dabbawala' nabbed in loan fraud for promising 61 dabbawalas free scooters

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This billionaire real estate magnate is dividing his group in two clear businesses. Know why

BI India Bureau