Wipro ties up with IIT-Bombay for fabricating formula electric

Mumbai: Wipro today said it has entered into a pact with Indian Institute of Technology, Bombay to fabricate parts of students' formula electric car.

The third largest software exporter will contribute technical expertise on additive manufacturing as well as the equipment and material for the fabrication of parts, while IIT Bombay Racing will provide designs for the parts, a company statement said.

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Retail bond issuances by non-bank lenders to grow over Rs 20,000 cr: Icra 

Domestic ratings agency ICRA today said retail bond issuances by non-bank lenders will grow over four times to over Rs 20,000 crore in fiscal year 2018-19.

"Tighter liquidity conditions, rising bond yields and weak capital position of public sector banks (PSBs) that enjoy a dominant 70 per cent share of bank credit is likely to increase retail bond issuances by NBFCs," its senior vice president Karthik Srinivasan said.

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Bond issue: J M Fin Credit Solutions retail and HNI components over-subsrcibed 

Non-bank lender J M Financial Credit Solutions today said retail and high net individuals' components in its Rs 750-crore bond issue have been oversubscribed on day one, while institutional and corporate portions were yet to.

As against an allocation of Rs 225 crore, the retail and HNI portions have received subscriptions of Rs 555 crore and Rs 427 crore, respectively as of 1700 hrs.

The institutional portion had received 20 per cent subscription, while corporates had received 78 per cent subscription, an official statement said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.