Suryoday Small Finance Bank files draft papers with SEBI for IPO

a man in a suit and tie smiling at the camera: Suryoday Small Finance Bank files draft papers with SEBI for IPO

© Akanksha Sarma
Suryoday Small Finance Bank files draft papers with SEBI for IPO

Suroyaday Small Finance Bank Limited (SSFBL) has filed its Draft Red Herring Prospectus for an  Initial Public Offer (IPO) of up to 20,061,796 equity shares of face value Rs 10 each.

The SFB plans to utilise the net proceeds from the fresh issue towards augmenting the bank’s Tier – 1 capital base in order to meet the bank’s future capital requirements, SSFBL said in a statement.

This issue will be made via a book-building process, with Axis Capital, ICICI Securities, SBI Capital Markets, and IIFL Securities being the merchant bankers of the issue.

Shares of the bank will be listed on BSE and NSE.

Those offering shares through the offer for sale (OFS) route include International Financial Corporation (IFC), Gaja Capital, HDFC Holdings, IDFC First Bank, Kotak Mahindra Life Insurance Company, DWM (International) Mauritius Ltd, and

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Alternative Finance Market Next Big Thing

Alternative Finance Market

HTF Market Intelligence released a new research report of 150 pages on title ‘Global Alternative Finance Market Insights by Application, Product Type, Competitive Landscape & Regional Forecast 2025’ with detailed analysis, forecast and strategies. The study covers key regions that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico) and important players such as Revolut (United Kingdom), Mintos (Latvia), Funding circle (United Kingdom), Coinbase (United States), Prodigy finance (United Kingdom), Thinknum (United States), Equity Zen (United States), Tradeshift (United States), Workday (United States) and Trulioo (Canada) etc.

Request a sample report @


Industry Background:
Alternative finance is the product that excludes traditional banking such as banks, stocks and bond. It includes fundraising from

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Volvo, HDFC Bank announce up to 100% finance on ex-showroom price, extended warranty & more

a car parked in a parking lot

© Provided by The Financial Express

Volvo Car India today introduced Volvo Car Financial Services in collaboration with HDFC Bank to make the acquisition of Volvo cars easier for its customers through flexible finance options. Under this collaboration, Volvo now offers finance of up to 100 percent of the ex-showroom price of the car which offering convenient repayment options, with no foreclosure charges under specific conditions. Loans can be availed for up to seven years.

There is also an option to finance insurance, extended warranty, service package and accessories. Volvo Car Financial Services allows a faster loan approval and a uniform processing fee.

Volvo Car Financial Services is an extension of the company’s people-centric approach that allows customers the ease of owning its cars. Volvo is confident that this partnership would certainly instill customer confidence in the brand even more, Volvo Car India Managing Director, Charles Frump said.

HDFC aims

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How COVID-19 Is Making a Stronger Case for Automating Finance > CEOWORLD magazine

The economic impact of COVID-19 is like nothing we’ve seen in recent memory, and many CEOs and CFOs are laser-focused on ensuring their financial houses are in order. This leads to an operational strategy that prioritizes short-term needs — such as cash flow — over longer-term strategy. However, COVID-19 and the subsequent shift to remote work have actually made an even stronger case for automation and paperless processes in finance departments everywhere.

Is now the right time to invest in automation?

Given the massive economic uncertainty caused by the COVID-19 pandemic, many executives would say “no.” In fact, 50% of CFOs intend to scale back or delay planned investments, and prevailing wisdom says this is a time for tightening the belt and circling the wagons rather than investing in transformative tech. But what if that’s actually holding you back?

Technology has been critical throughout the pandemic, helping companies pivot to

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Industry 4.0 Capabilities Come to Enterprise Finance

Larry White, executive director, Resource Consumption Accounting Institute

Larry White, executive director, Resource Consumption Accounting Institute

The near century long gap between business metrics, as expressed by financial accounting standards designed for regulated financial statements and audits, and operational information with its focus on real-time quality and efficiency, appears to be the new frontier among major software and systems providers. In July 2020, SAP and Siemens announced a partnership of software offerings to improve product lifecycle, supply chain, and asset management. Their announcement included an interesting statement: “Silos between engineering and business have existed in enterprises for decades. This new partnership will help customers to break down these silos so manufacturers, product design teams, and service managers have the information needed to quickly create and manage customer-centric product and service offerings.” I don’t have specific insight into how Siemens and SAP will achieve this. SAP software was originally designed to support German management accounting/controlling techniques that focused on

Read More, Opendoor, Finance of America and FormFree named Bob Evans vice president of industry relations, where he will lead the company’s long-standing efforts to engage and support its industry partners. This includes Realtor associations, MLSs, agents, brokers, lenders and title companies.

Bringing 35 years of industry experience to his new positions, Evans said that he is “thrilled to move into this role at such a pivotal time in our industry and for the company.”

Opendoor announced that Carrie Wheeler, a board member for the past year, has transitioned into a new role, officially naming her chief financial officer. Wheeler has worked closely with the executive team at Opendoor over the last year, helping them refine their financial model and navigate the onset of COVID-19.

Wheeler brings 21 years of experience at TPG Global to the position, where she led a number of transactions involving over $20 billion in value. She has also sat on the boards

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These Personal Finance Apps Can Change Your Life

  • Apps that help consumers manage their money are becoming more and more popular
  • Making smart, calculated, and guided decisions on personal capital is one of the most critical parts of life
  • These four apps believe they have you covered when it comes to taking control of your financial present and future

You Need a Budget: You Need a Budget personal finance app that focuses on helping users achieve some structure in their financial decisions. Its platform is built on its “Four Rules”: 1) Give every dollar a job, 2) Embrace your true expenses, 3) Roll with the punches, and 4) Age your money.

Users can line up the app with their checking account in order to balance transactions against budget plans and personal financial goals. You Need a Budget also provides reports that show users how they’re doing throughout the month. Per the company, the average user saves up

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Yield Farming Expands From Finance to Digital Collectibles

Fresh soil can now be tilled for yield on Ethereum: the world of digital collectibles.

Yield farming has turned decentralized finance (DeFi) into the juggernaut of crypto earnings here in mid-2020, but one non-DeFi startup believes its users will also be interested in earning a new governance token for making trades. 

Starting Wednesday, Rarible, a dapp that enables users to create and market non-fungible tokens (NFTs), will begin keeping track of all transactions on the site in order to reward users each week with its new governance token: RARI.

Related: Crypto Luminaries Auction NFT ‘Art’ for Charity

In fact, the largest share of RARI will go to Rarible users who make trades, some 60% of the total supply. Trading amounts to mining for this new token.

That’s not all, however.

Rarible has also set aside tokens for two key groups. First, anyone who holds NFTs now will be able to

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360 Finance Announces Changes to Management

SHANGHAI, China, July 12, 2020 (GLOBE NEWSWIRE) — 360 Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”), a leading digital consumer finance platform, today announced the appointment of Mr. Alex Xu as the Chief Financial Officer of the Company in replacement of Mr. Jiang Wu, and the appointment of Mr. Jiang Wu as the Chief Strategy Officer of the Company, effective immediately. Upon taking the new position, Mr. Jiang Wu will focus on assisting the Chief Executive Officer of the Company in making mid to long-term strategic planning and in facilitating the comprehensive cooperation between the Company and its important ecosystem partners such as banks in strategic cooperation relationship with us.

The Company also announced that Mr. Yan Zheng and Mr. Zhiqiang He, current Vice Presidents of the Company, have been promoted as the Chief Risk Officer of the Company and the Senior Vice President of the Company, respectively,

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10 Best Personal Finance Courses

If you want to learn how to make smart financial decisions, save more and eliminate debt, you’re in luck. Today, there are plenty of online personal finance classes offering money-management lessons.

Still, “people need to keep in mind that online personal finance courses should be seen as an education resource and not specific personal financial advice,” says Drew Feutz, a certified financial planner at Market Street Wealth Management Advisors in Indianapolis. “The information learned from taking a personal finance course should be applied within the context of your own financial situation, rather than following everything that is taught 100% to a T.”

“Some things that you learn about in a personal finance course may not be applicable to you or may not be appropriate to implement in your own life,” Feutz adds, noting that too often, people read or hear something from a personal finance expert or a course that

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