The initial public offer (IPO) of Jana Small Finance Bank was subscribed 88% on Wednesday, the first day of the bidding process. The NII portion of the issue was booked the most at 1.2 times, followed by retail investors at 1.19 times. There QIB category was subscribed just 14%.
Indel Money, a gold loan non-banking finance company (NBFC), has achieved a profit of Rs 21 crore in the first quarter of FY 24, marking a 63% QoQ growth. The company’s strong performance is attributed to operational efficiency and overall resilience in gold demand. The NBFC’s AUM grew by 61% YoY to Rs 1294.44 crore, and the annual disbursement rate increased by 40% YoY to Rs 850.64 crore, with gold loans accounting for 92% of the total. Revenue also grew by 74% in Q1FY24 compared to Q1FY23.
