Connect with us

Business

SGB redemption update: RBI fixes Rs 10,610 per unit for 2020-21 bonds, investors bag 107% return – The Times of India

Published

on

SGB redemption update: RBI fixes Rs 10,610 per unit for 2020-21 bonds, investors bag 107% return – The Times of India


The Reserve Bank of India (RBI) on Friday announced that investors of Sovereign Gold Bonds (SGB) 2020-21 Series VI, issued on September 8, 2020, will be able to opt for premature redemption on September 6, 2025. The redemption price has been fixed at Rs 10,610 per unit.According to the RBI statement, the price has been arrived at on the basis of the simple average of the closing gold prices of 999 purity for the previous three business days—September 3, 4, and 5, 2025—as published by the India Bullion and Jewellers Association Ltd (IBJA), according to an ET report.The SGB 2020-21 Series VI was issued at Rs 5,117 per gram. Based on the redemption price, the bonds will deliver an absolute simple return of 107.35%, or Rs 5,493 per unit, excluding the 2.5% annual interest that investors also receive.Launched by the Government of India and managed by the RBI, the Sovereign Gold Bond scheme offers investors a demat or paper alternative to physical gold while eliminating storage and purity risks. The tenure is eight years, with an option for premature redemption allowed only after the fifth year from the date of issue, on interest payout dates.SGBs pay 2.5% fixed annual interest, credited semi-annually to investors’ bank accounts. The final interest instalment is payable on maturity along with the principal. The bonds are tradable, transferable, and can also be used as collateral for loans.The RBI said investors should review redemption schedules and ensure their requests for premature redemption are submitted within the prescribed deadlines.





Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Flight go-arounds, returns to bay ‘entirely normal’: Air India chief – The Times of India

Published

on

Flight go-arounds, returns to bay ‘entirely normal’: Air India chief – The Times of India


NEW DELHI: Air India chief Campbell Wilson has told employees that there is nothing alarming about the go-around and flights returning to the bay in context of the carrier’s “scale and size” and said that the “the incidence rate is entirely normal”.“Over the past few months, our operations have garnered significant attention… Like all airlines, we face a variety of operational scenarios – some of which are under our control, and some that are not. When the spotlight is on us, it’s crucial to offer timely, clear and accurate information and the right context. So over recent weeks we have been even more transparent than usual in reporting incidents and events, however small,” the Air India MD & CEO said.AI hopes this “transparency will, over time, help build trust”. But “in the short term though, it naturally results in an uptick of news coverage, and with more than 1,200 departures every single day – nearly one every minute – across the Air India Group, it can seem like a lot. In context of our scale and size, however, the incidence rate is entirely normal,” he said.Tatas had acquired AI along with AI Express in Jan 2022 and returning the Maharaja’s lost glory is among the toughest challenges in contemporary aviation. So over three-and-a-half years after the return to founder Tata fold, AI is still tackling multiple challenges. The DGCA has fined AI on multiple occasions over violations.To be fair, AI is not the only airline that has faced DGCA ire over alleged deficiencies and also every carrier faces the same from time to time. But AI Group and IndiGo are seen as key to India’s dream of becoming an aviation superpower as that requires strong home airlines.After the Ahmedabad crash, in which 260 people died, AI has downsized its operations after June 12 for factoring in things like enhanced aircraft checks and plans to restore all international flights from next month. On his part, Campbell Wilson said in his message to employees that “our performance continues to improve thanks to the collective efforts across the organisation.” These, according to him, include improved on time performance and baggage handling.“We’ve empowered our front-line teams with the ability to offer e-vouchers to customers in cases where a service shortfall has occurred, such as for mishandled baggage, and are also working to extend this capability to our cabin crew, enabling them to provide on-the-spot resolution to customers during their journey,” he said.





Source link

Continue Reading

Business

‘India has potential for small e-cars’ – The Times of India

Published

on

‘India has potential for small e-cars’ – The Times of India


MUNICH: German automotive group Volkswagen is looking at India as a potential market for its affordable small electric cars and is working with partners on how to best introduce them in the market, its CEO Oliver Blume said on Sunday. “India is a fantastic market, now the third biggest in the world. We see potential in India. We are sorting out what we can do with partners and also bringing a small car to India,” Blume said. Agencies





Source link

Continue Reading

Business

Upcoming IPOs This Week: Urban Company Among 9 Firms Set To Launch Public Issues; Full List

Published

on

Upcoming IPOs This Week: Urban Company Among 9 Firms Set To Launch Public Issues; Full List


Last Updated:

Nine IPOs, including Urban Company and Airfloa Rail, will launch between September 8 and 18, 2025.

Upcoming IPOs.

Upcoming IPOs.

Upcoming IPOs: The primary market is set for an action-packed week as nine companies are scheduled to launch their initial public offerings (IPOs) between September 8 and September 15, 2025. These offerings include a mix of small and medium enterprises (SMEs) and mainboard listings.

Nilachal Carbo Metalicks (NCM SME)

Nilachal Carbo Metalicks will open its IPO between September 8 and 10, 2025, at a fixed price of Rs 85 per share. The company’s listing is scheduled for September 15.

Karbonsteel Engineering (KARBONSTEEL SME)

Karbonsteel Engineering will hit the market during the same window of September 8–10. With a price band of Rs 151 to Rs 159, the engineering firm is looking to attract SME investors ahead of its listing on September 15.

Krupalu Metals (KRUPALUMETALS SME)

Krupalu Metals, another SME in the metals sector, will also open its IPO from September 8 to 10. The company has fixed its share price at Rs 72, and it will make its stock market debut on September 15.

Taurian MPS (TAURIAN SME)

Taurian MPS will join the cluster of early movers with its IPO running from September 8 to 10. Priced between Rs 162 and Rs 171, it will be among the higher-value SME offerings of the week, with its listing scheduled for September 15.

Jay Ambe Supermarkets (JAYAMBE SME)

Jay Ambe Supermarkets will open its IPO a day later, between September 9 and 11. With a price band set at Rs 74 to Rs 78, the retail-focused chain will list on September 16, seeking to tap into consumer-driven investor interest.

Shringar House of Mangalsutra (SHRINGAR)

Jewellery brand Shringar House of Mangalsutra will launch its IPO between September 10 and 12. Priced in the range of Rs 155 to Rs 165, the issue will list on September 17, offering investors exposure to the ornament and accessories market.

Urban Company (URBANCO)

One of the most awaited IPOs, Urban Company, will also open its books from September 10 to 12. With a price band of Rs 98 to Rs 103, the home services platform is set to make its stock market debut on September 17.

DevX (DEVX)

DevX, a provider of co-working and incubation services, will launch its IPO alongside Urban Company between September 10 and 12. Shares will be offered at Rs 56 to Rs 61, with the listing expected on September 17.

Airfloa Rail Technology (AIRFLOA SME)

Rounding off the week, Airfloa Rail Technology will open its IPO from September 11 to 15. The company has set a price band of Rs 133 to Rs 140 and will list on September 18, marking the final debut in this cluster of offerings.

authorimg

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

News business ipo Upcoming IPOs This Week: Urban Company Among 9 Firms Set To Launch Public Issues; Full List
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Read More



Source link

Continue Reading

Trending