The initial public offer (IPO) of SBI Funds Management Ltd was fully subscribed on the second day of bidding, receiving bids for 1.17 times the shares on offer, with strong interest from non-institutional investors and anchor investors.
SBI Funds Management, India's largest asset management company, has set its IPO price band between 545 and Rs 574 per share, valuing the company at 1.2 trillion. The management explained the 'moderate' valuation aims to instil investor confidence amidst market uncertainty, while also highlighting plans for AI integration, expansion into GIFT City, and new alternative investment funds.
Private sector ICICI Bank on Friday said its board has approved additional 2 per cent increase stake in its asset management arm ICICI Prudential Asset Management Company. The board of the bank on Friday approved purchase of up to 2 per cent additional shareholding in the ICICI Prudential Asset Management Company, ICICI Bank said in a regulatory filing.
Six companies, including Blackstone-backed Horizon Industrial Parks and Lalithaa Jewellery Mart, are poised to collectively raise nearly Rs 5,600 crore through initial public offerings (IPOs) in the upcoming week, adding to the bustling primary market activity.
'The Rs 30,954 crore inflows recorded in May 2026 reflects around 16 per cent year-on-year rise.'
A new study by The Energy & Climate Initiative Society (ENCIS) predicts that AI adoption in India's power generation sector will surge from 35% to 65% by 2030, becoming a core operational capability. The study highlights that nearly seven out of ten professionals see power generation as offering the best opportunity for efficiency gains through AI, driven by India's expanding digital infrastructure and significant investments from energy giants. Predictive asset management and proactive maintenance are identified as key areas for AI application, with efficiency being the primary driver for AI investments.
'...as we believe with the adoption of AI, our IT services companies' revenue models will have to undergo a reset, which may in turn impact their potential for earnings growth.'
India's six publicly listed Real Estate Investment Trusts (REITs) collectively distributed approximately 3,136 crore to over 485,000 unitholders during the first quarter (April-June) of the current financial year (FY27), demonstrating the sector's resilience despite global uncertainties.
The Bangalore Water Supply and Sewerage Board (BWSSB) is set to explore the use of AI, predictive analytics, and robotic inspection technologies to detect water theft, reduce leakages, and improve operational efficiency across Bengaluru's water distribution network.
Axis Bank has opened 50 new branches across India, while Abakkus Mutual Fund has surpassed Rs 10,000 crore in AUM. YES Bank launched a new credit card for women, and J&K Bank partnered with HDFC Life to enhance its insurance offerings, showcasing significant growth and strategic developments in the Indian financial sector.
Manchester United defender Harry Maguire has expressed his hope that Marcus Rashford will remain at the club, calling the forward a 'huge threat' and a significant asset who can improve the team.
Despite the Reserve Bank of India's (RBI) and the government's recent initiatives to attract foreign capital, which are expected to alleviate pressure on long-duration bonds, most debt fund managers are maintaining a cautious stance, favouring shorter-duration papers due to global uncertainties and potential future rate hikes.
A new report by FICCI, BCG, and IBA outlines that India's banking sector must grow significantly faster than nominal GDP to support a USD 30 trillion economy by 2047, requiring banking assets of USD 45 trillion. The report highlights the sector's current strength, challenges in digitisation, and the need to enhance resilience against fraud and cyber threats, proposing a 13-point agenda for stakeholders.
Bajaj Finance reported a strong Q1 FY27 performance with 24 per cent year-on-year AUM growth and a 28 per cent rise in consolidated profit after tax, driven by significant increases in consumer financing, gold loans, and commercial vehicle loans, alongside a strategic focus on digital transformation and AI.
Since this is a long-term investment, investors must do their homework and choose a fund manager carefully.
Manappuram Finance has announced the appointment of Ashish Singh as its new managing director and chief executive officer, effective January 1, 2027, marking a significant shift from its family-led governance structure.
India's capital markets regulator, Sebi, has simplified the onboarding process for foreign portfolio investors (FPIs) by permitting them to submit a digitally signed Power of Attorney (PoA) to their custodians, eliminating the need for notarisation or apostillisation.
Net inflows into smallcap funds surged 39 per cent M-o-M to a record Rs 7,768 crore, while midcap fund inflows rose marginally to Rs 6,192 crore.
Mizoram Chief Minister Lalduhoma met Union Home Minister Amit Shah regarding the Foreign Contribution (Regulation) Amendment Bill, 2026. Shah assured that the bill would not be retrospective. Various church and minority organisations have expressed concerns about the bill's impact on NGOs, schools, and healthcare units, urging its withdrawal or referral to a joint parliamentary committee.
Bajaj Finance, India's largest private-sector NBFC, reported a 29 per cent year-on-year increase in standalone net profit to 5,346 crore for Q1FY27, propelled by robust growth in net interest income and assets under management, which surpassed 4 trillion.
The Anti-Corruption Bureau has registered a case of disproportionate assets against an official of the Hyderabad Metropolitan Water Supply and Sewerage Board and found assets worth over Rs 5.88 crore during searches.
Smallcap and midcap funds now account for nearly 30% of active equity MF folios, as stock-market gains revive investor appetite for high-growth segments.
Liquidity stress in smallcap funds has fallen to its lowest level since February 2024, with the average time to liquidate 50% of portfolios dropping to 27 days in June from a peak of 44.2 days in January 2026, driven by a sharp recovery in smallcap stocks and increased trading volumes.
Karnataka Power Transmission Corporation Limited (KPTCL) has successfully deployed advanced drone technology for inspecting high voltage transmission corridors, leading to an 85 per cent reduction in power outages. This initiative has improved operational efficiency, workforce safety, and enabled precise fault detection and predictive maintenance across over 11,000 transmission towers and 3,370 km of lines.
NeoGeoInfo Technologies, a spatial intelligence solutions provider, has secured a Series A investment of approximately USD 20 million from Neev II Fund and Aavishkaar Capital. This funding will fuel the company's R&D, expand its international presence in the Middle East and Americas, and strengthen its team for complex projects.
Chief ministers from southern states convened at the Southern Zonal Council meeting in Kovalam, where Karnataka CM DK Shivakumar advocated for the 1971 census as the basis for delimitation and a freeze on Lok Sabha seats, while also addressing the contentious Cauvery water and Mekedatu dam issues.
India's Ambassador to the US, Vinay Mohan Kwatra, has clarified that the recent amendments to the Foreign Contribution (Regulation) Act (FCRA) are primarily aimed at enhancing transparency and ensuring accountability in foreign financial flows.
More than a dozen companies, including quick commerce firm Zepto, logistics platform Shiprocket, and housing finance company Truhome Finance, are preparing to launch their initial public offerings (IPOs) next month, collectively aiming to raise over Rs 25,000 crore.
A Goldman Sachs report indicates that US and Indian equity markets are becoming less attractive due to lower free cash flow (FCF) yields as valuations rise, while European markets offer significantly higher yields. Concurrently, India's top-listed residential real estate developers experienced a moderation in pre-sales in Q1FY27, attributed to delayed project approvals, limited launches, and high year-ago bases, though underlying housing demand remains healthy.
'ISRO will not manufacture any launch vehicles. That will all be done by the private sector or public sector undertakings.'
Tata Sons approached the RBI in 2024 seeking de-registration after becoming debt-free, a move that would allow it to remain a privately held, unlisted company. The application has remained pending.
A tragic incident in Rishikesh saw a mother and her two-year-old daughter electrocuted in a waterlogged area due to a snapped power line. The mother, Suman Jethudi, managed to save her 12-year-old son before her death. Following public outcry and a complaint, a Junior Engineer of Uttarakhand Power Corporation Limited (UPCL) has been suspended, and a high-level inquiry committee has been formed. UPCL has also launched a statewide safety inspection drive.
Indian companies LTM and Mastek announced new international partnerships for cloud, AI, and digital transformation. Jio BlackRock AMC launched a new hybrid fund. NMIMS partnered with Coursera for AI-enabled learning, and MakeMyTrip Foundation rebuilt a flood-damaged school in Manali.
A US Congressman has raised serious concerns regarding India's proposed amendments to the Foreign Contribution Regulation Act (FCRA), warning that these changes could lead to government takeovers of religious charities and strain bilateral relations.
Union Finance Minister Nirmala Sitharaman announced the government's plan to establish a high-powered committee to examine reforms for the banking sector, aligning it with the vision of a 'Viksit Bharat' (Developed India) and India's next phase of growth.
Prashant Kishor and Dr Jahnavi Das first met while working on a United Nations public health initiative.
At Rs 4.07 trillion, gross inflows were just shy of the record Rs 4.34 trillion mobilised in H2 of 2024, making it the second half-yearly period in which inflows crossed Rs 4 trillion.
Artificial intelligence (AI) is significantly increasing the demand for flexible office spaces in India, as enterprises prioritise agility, speed-to-market, and struggle with forecasting workforce requirements. AI-native startups are a primary driver, while established companies are adopting 'core-plus-flex' strategies to balance stability with adaptability.
India's largest retirement fund manager, the Employees' Provident Fund Organisation (EPFO), is enhancing its investment governance and fund management practices, following the Reserve Bank of India's recommendations.
Aditya Birla Capital has entered the gold loan business, aiming to establish 1,000 branches within three years, capitalising on the strong structural growth and surge in demand for gold-backed credit in India.
