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Ujjivan SFB to raise Rs 600 cr in equity; expects to report profits in Q4

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Ujjivan SFB to raise Rs 600 cr in equity; expects to report profits in Q4

Ujivan Small Finance Bank (SFB) will raise up to Rs 6,000 crore in new equity from institutional investors within three to six months to raise the public float to 25% and support business growth.

The company told the BSE that the board has approved an equity issue of up to Rs 600 crore, including a premium through a qualifying institutional placement, subject to shareholder approval.

As of the end of December 2021, its capital adequacy ratio was 19.1% and its Tier 1 capital was 17.7%.

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Ittira Davis, managing director and chief executive officer of Ujjivan SFB, said regulation requires listed entities to have a 25% public shareholding. Ujivan is now around 18%. Therefore, the bank must purchase an additional 7% of the bank’s public shares. This will take place prior to the reverse merger of the originating entity and the bank.

The SFBs are publicly offered and listed on exchanges in the third quarter of fiscal 2020 in compliance with RBI regulations which require all SFBs to be listed as separate entities within three years of commencing business.

In addition to meeting regulatory requirements, the fresh capital will help grow the business over the next year or so. He said there had been little growth in the past two years after the Covid-19 pandemic hit economic activity.

As for returning to profitability after a timed loss in Q3 FY22, Davies said the way things were pointing (loan increases) the bank should be able to achieve that (reporting profits) in Q4. The loan book established in the third quarter will begin to provide earnings (interest income) in the fourth quarter. The January 2022 approach is showing good traction, and if February and March move in this direction, a turnaround will be achieved.

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It narrowed its loss for the third quarter of fiscal 2022 to Rs 33.83 crore from Rs 278.33 crore in the quarter ended December 2020 (Q3Fy21) and Rs 273.39 crore in Q2Fy22.

Its total advances stood at Rs 16,463 crore in December 2021, up 21% year-on-year (Y-o-Y) and 13% quarter-on-quarter (Q-o-Q). Expenses in the third quarter were Rs 4,809 crore, up 120% year-on-year and 54% quarter-on-quarter.

The bank’s net NPA stood at 1.67% of net advances at the end of December 2021, up from 0.05% a year ago, but down from 3.29% in the September 2021 quarter.

Complete News Source : Business Standard

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$92.8 million

Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

instantbollywood.com

Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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