Loan Against Securities

SaaS firm Virtual Galaxy Infotech files draft IPO papers with NSE Emerge

BFSI-focused SaaS firm Virtual Galaxy Infotech Ltd on Wednesday said it has filed draft papers with NSE Emerge to raise funds through an Initial Public Offering (IPO). The Nagpur-headquartered company's IPO comprises a fresh issue of 66 lakh equity shares with a face value of Rs 10 each, according to a statement. Proceeds from the issue worth Rs 34.26 crore will be used for setting up additional development facilities in Nagpur, Rs 18.9 crore for funding expenditure related to enhancement, maintenance and upgrading existing products, Rs 14.06 crore for funding business development and marketing activities. Additionally, Rs 5.05 crore will be utilised for procuring GPU, server & storage system at the data centre, Rs 3 crore for payment of debt and the remaining capital will be used for general corporate purposes. In July, the company raised Rs 21.44 crore in a pre-IPO funding round from the marquee investors. VGIL is a SaaS product-focused company engaged in providing core banking

Mirae Asset inks pact with FundsIndia to give loan against securities

Mirae Asset Financial Services on Wednesday said it has inked a pact with FundsIndia to provide loans against securities. This credit facility is available on FundsIndiainvestorplatform and soon will be released on their partner platform as well, a joint statement said. FundsIndia partners will also be able to offer the product to their investors digitally via the FundsIndia partner platform, it said. As part of the deal, investors will be able to pledge their mutual fund units of different asset management companies (AMCs) to avail loans against mutual funds, it said. Customers can also pledge shares from a large list of approved shares held in demat account with NSDL only, it said. The investors will get the option of creating an overdraft facility against their mutual funds and shares on the FundsIndia portal at 9 per cent pa and with a fixed processing fee of Rs 999 plus taxes that will help them manage their liquidity without redeeming their investments, it said.

Amazon secures $8 bn in term loan to safeguard against economic headwinds

Amazon has frozen hiring for corporate roles in its retail business

Not getting personal loan to manage an emergency? Offer collateral

Starting a fixed deposit may make a bank more willing to offer you a credit card

A snapshot of loan against securities offered by various banks with details

Here is how the loan against securities rates offered by various banks tack up

A snapshot of loan against securities offered by various banks with details

Here is how the loan against securities offered by carious bans stack up

Loan against securities: Pay additional margin money in falling markets

Delay in repayment carries a stiff penalty

Need emergency money? Get loan at a lower interest rate by pledging shares

Since it is a secured loan, the interest cost is lower

Have a low credit score? Pledge your fixed deposit as security against loan

The benefit of a loan against FD is that it has a lower interest rate

A snapshot of loan against securities rates offered by various banks

Here is how the loan against securities rates offered by various banks stack up

Need emergency money? Avoid going overboard on loan against securities

Prepaying the loan whenever you have extra funds is a good idea as they do not carry prepayment charge

Here's how loan against securities is a better option than personal loans

Interest rates on loans against securities are lower and they come with flexible repayment options