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Ixigo IPO Allotment: Verify Application Status, Latest GMP & Listing Date of Le Travenues The IPO of Le Travenues Technology, based in Gurugram, was open for bidding from June 10 to June 12. Offered in the fixed price range of Rs 88-93 per share with a lot size of 161 shares, the company raised over Rs 740.10 crore through its primary offering. This included a fresh share sale of Rs 120 crore and an offer-for-sale (OFS) of up to 6,66,77,674 equity shares. The response to the IPO was overwhelming, with the issue being oversubscribed by an impressive 98.34 times. Qualified institutional bidders (QIBs) subscribed 106.73 times, while non-institutional investors subscribed 110.53 times. Retail investors also showed significant interest, with the portion allocated to them seeing a subscription of 54.85 times during the bidding period. The grey market premium (GMP) of Ixigo IPO saw a substantial increase due to strong demand during bidding. Currently, the company commands a premium of ...

Loan facility in life insurance is mandatory  now: What you should know   Loan facility in life insurance Currently, insurers are obligated to offer a loan facility against policies, aiding policyholders in meeting their liquidity needs.   Loan Facility in life insurance Great news for policyholders! The Insurance Regulatory and Development Authority of India (Irdai) announced on Wednesday that all life insurance savings products must now incorporate a policy loan option, assisting policyholders in managing their liquidity requirements.   "This marks a significant stride in the series of reforms initiated by the insurance regulator, prioritizing the welfare of policyholders. It creates a conducive environment for fostering innovation and elevating customer satisfaction," stated Irdai.   Key Highlights:   1. Extended Free Look Period:    The free look period, granting policyholders the opportunity to review policy terms and conditio...

Mutual funds add over 1.57 crore new folios in a year. Mutual Funds, In the last one year, the MF industry recorded over 25% increase in the number of folios.     Mutual Funds, The year 2018 has been a volatile one so far for both equity and debt markets. However, investors seem to be resilient to market vagaries. This is reflected in the steady increase in a number of folios. In the one year period ending August 2018, the industry has added over 1.57 crore folios. Not surprisingly, the majority of these folios came in equity funds. In fact, of the total 1.57 crore folios, close to 1.5 crore folios were in equity funds. Equity funds include pure equity funds, ELSS, balanced funds and ETFs. Income funds recorded only a marginal increase in folios (3.55%). Meanwhile, gold ETF (32,823) and gilt funds (28,147) saw a decline in folios. In percentage terms, liquid funds saw the highest increase in folios (48.19%) followed by equity funds (30%). On the other hand, gilt funds...

Health insurance premium 40-50% hike on renewal possible? Is a 40-50% hike in annual health insurance premium on renewal possible? Could health insurance premiums see a 40-50% spike upon renewal? Unfortunately, without caps on increases, such hikes are plausible, especially for older individuals. Managing this burden requires foresight: • Build a dedicated fund: Allocating funds specifically for future premiums eases financial strain, considering health insurance is often more economical than direct medical expenses. • Maintain backup savings: Supplement insurance with a separate fund for ancillary costs like routine check-ups, crucial as healthcare needs escalate with age. • Consider super top-up plans: These plans, with lower premiums, activate after reaching a deductible threshold. Even if base plan premiums skyrocket, a super top-up can remain affordable, providing crucial coverage for major expenses. When renewing health insurance, must one disclose new medical conditions...

Docplix secures Rs 1.2 Cr in bridge round. Docplix secures, a burgeoning player in the healthtech sector, has recently secured Rs 1.2 crore in funding through a bridge round, spearheaded by Inflection Point Ventures. This latest financial boost comes on the heels of their successful pre-Series A funding round in March, where they garnered Rs 5 crore, led by Eris Lifesciences along with support from various angel investors. Prior to that, in February 2022, the company had raised Rs 1.2 crore in seed funding. The infusion of capital will be directed towards key areas such as product development, integration of cutting-edge AI technologies, and the expansion of market reach, as outlined in Docplix's official statement. This strategic allocation of funds will fuel enhancements to their Electronic Health Record (EHR) system, incorporating advanced AI functionalities aimed at bolstering decision support and patient care. Moreover, it will facilitate the broadening of their market footp...

Does Insurance Companies are making fool people? Insurance companies / providers often present a compelling argument, counting the benefits of a living person's demise. Insurance, a concept widely embraced, remains enigmatic to many. Paradoxically, the more insurance policies one accumulates, the less they may comprehend about them. Whether it's financing education, funding a daughter's wedding, buying a house, or securing retirement, the middle-class turns to policies as the answer. Yet, does this ensure financial prudence, or does it risk grave financial errors? The proliferation of policies often masks potential pitfalls, leading individuals down precarious financial paths. Insurance Agents, friends, or relatives often play the role of insurance evangelists, and those lacking such acquaintances turn to banks, where they are often guided towards policies, sometimes without full comprehension. While insurance is crucial, particularly in a country where 70% of families ...

Stock Market Today Highlights: Sensex, Nifty settle 3% higher after slipping 6% in previous session Share Market Today Highlights: Nifty and Sensex inched higher after BJP allies reassure support to the PM Modi-led BJP government. Stock Market Highlights: Indian frontline equity indices BSE Sensex and NSE Nifty 50 displayed heightened volatility on Wednesday (June 5) as market participants digested election results. The stock market soared higher as allies asserted support to PM Modi-led BJP for the next government formation. Both the indices advanced 2 per cent with broader markets also lending support to the rally. Benchmark indices Sensex closed 2,303.19 points, 3.20 per cent higher at 74,382.24 while Nifty settled 735.85 points, or 3.36 per cent higher at 22,620.35. Sensex opened 954.88 points, or 1.32 per cent higher at 73,033.90 while Nifty inched 243.80 points, or 1.11 per cent higher at 22128.30, signalling easing political nervousness among market participants. India VIX, popu...

Hindalco’s Novelis IPO put on hold; enterprise value estimated at $17 billion  Hindalco’s Novelis IPO - Hindalco's planned IPO for Novelis, with an estimated enterprise value of $17 billion, has been postponed due to unfavorable market conditions. Originally aiming to raise up to $945 million by offering 45 million shares at $18 to $21 each, Hindalco Industries, part of the Aditya Birla group, had intended to generate around $1.08 billion including the greenshoe option. Hindalco’s Novelis IPO - The decision to delay the IPO was announced without elaborating on future timing. Hindalco, the sole selling shareholder, anticipated proceeds ranging from $810 million to $945 million, or potentially $931.5 million to $1.08 billion if the greenshoe option were exercised. The company's equity valuation was estimated between $10.8 billion and $12.6 billion.   Hindalco’s Novelis IPO put on hold; enterprise value estimated at $17 billion Hindalco was looking to raise up to $945 million...

Stock Market Crash Highlights: BSE Sensex ends 4,390 points down; Nifty50 plunges 5.93% as Modi-led NDA faces tough fight from INDIA bloc Stock Market Crash Live Updates: BSE Sensex and Nifty50, the Indian equity benchmark indices, witnessed a ‘Terrible Tuesday’ with bloodbath on the Dalal Street. BSE Sensex and Nifty50 ended the day down almost 6%, seeing their worst fall in over 4 years. The market rout was due to INDIA bloc putting up a better fight than anticipated. Prime Minister Narendra Modi-led NDA is unlikely to win with a huge margin, indicate Lok Sabha counting trends. The market sees immediate ramifications on reforms due to the possible reduced mandate for BJP-led NDA. The market saw huge shockwaves after the over 3% gains it made in trade on Monday on the back of exit polls that predicted a clean sweep for NDA. On Monday, BSE Sensex and Nifty50 touched life-time highs and closed at record highs as well after rising over 3%. Earlier exit polls had projected a significant v...

Kronox Lab Sciences IPO: Issue Subscribed Over 19 Times on Day 2; Check GMP Kronox Lab Sciences IPO continues to witness overwhelming investor interest, with the subscription reaching over 19 times on Day 2 of the bidding process. As of 2:12 pm on Tuesday, the mainboard IPO has garnered bids for 12,90,41,550 shares, surpassing the 66,99,000 shares on offer.  Kronox Lab Sciences IPO - The retail category has seen a subscription of 20.96 times the total, while the non-institutional investor (NII) category has witnessed a staggering 36.72 times subscription. The Qualified Institutional Buyer (QIB) category has been subscribed 3.20 times. Kronox Lab Sciences IPO Priced at Rs 129-136 per share, the IPO opened for public subscription on June 3 and will close on June 5. Allotment is expected to be finalized by June 6, with listing scheduled for June 10 on both BSE and NSE. The Rs 130.15 crore IPO comprises an offer-for-sale (OFS) of up to 95,70,000 shares by promoters Joginder Singh Jaswa...

Cashless health Claim - As IRDAI mandates a 3-hour deadline for cashless health claim approvals, here's what leaders in the insurance industry have to say: In a groundbreaking move, the regulatory body Irdai recently issued a master circular on health insurance, stipulating that insurers must make cashless health claim authorization decisions within one hour of request, with a 3-hour limit for claim clearance. This circular replaces 55 previous directives. ( Cashless Health Claim ) Among the key provisions highlighted by Irdai is the necessity for insurers to offer a broader range of products, add-ons, and riders, tailored to diverse demographics, medical needs, and healthcare facilities, ensuring affordability for policyholders. Additionally, the circular introduces the Customer Information Sheet (CIS) accompanying every policy document, simplifying insurance details such as coverage, exclusions, and deductibles for policyholders' clarity. In a significant move towards cu...

Canara Bank (IPO) has revealed its intention to divest a 14.5% stake in its subsidiary, Canara HSBC Life Insurance Company, through an initial public offering (IPO).   This move, announced on May 31st, signifies the bank's strategy to reduce its holding in the life insurance venture, wherein it currently holds a majority stake of 51%. Established in 2008 through a partnership with HSBC Insurance (Asia Pacific), the joint venture also involves HSBC owning a 26% stake in the company. In accordance with regulatory requirements, Canara Bank disclosed its plan to offload a portion of its ownership in Canara HSBC Life via the IPO. The proposal awaits approval from the Reserve Bank of India and the Department of Financial Services, Government of India. The specifics regarding the IPO, including its size, timing, and execution, will be determined in due course, as per Canara Bank's statement. Concurrently, the bank has announced its intention to raise ₹8,500 crore through debt ins...