In this briefing: Diversified NBFCs: Corporate sponsored NBFCs: call option at formation lap RBI Holds Rates Amid Trade Headwinds Exencial Economy Tidings 01/10/2025 GST Exemption: A Catalyst for Growth and Margin Headwinds for ICICI Prudential Life RateGain Acquisition of Sojern: A Travel Tech Powerhouse in the Making? 1. Diversified NBFCs: Corporate sponsored NBFCs: call option at formation lap Most corporate-sponsored NBFCs have struggled to deliver consistent value creation over the past decade, barring a few exceptions such as BAF and CIFC This has been despite enjoying huge structural advantage (vs peers) like low cost of funds and liquidity backstop In recent years, several corporates have either revived/restructured their NBFCs or acquired/set up new ones Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below. 2. RBI Holds Rates Amid Trade Headwinds The RBI held its repo rate at 5.5%, unanimously keeping a neutral stance as the committee assesses the impact of prior cuts amid an improved inflation outlook.

In this briefing: RBI Holds Rates Amid Trade Headwinds Exencial Economy Tidings 01/10/2025 GST Exemption: A Catalyst for Growth and Margin Headwinds for ICICI Prudential Life RateGain Acquisition of Sojern: A Travel Tech Powerhouse in the Making? Exencial Industry Tidings 01/10/2025 1. RBI Holds Rates Amid Trade Headwinds The RBI held its repo rate at 5.5%, unanimously keeping a neutral stance as the committee assesses the impact of prior cuts amid an improved inflation outlook. Inflation projections were slashed to 2.6% from 3.1%, driven by GST reforms and benign food prices, creating policy space despite growth risks from 50% US tariffs. Domestic demand raised the growth forecast to 6.8%, but H2 FY26 faces headwinds from trade tensions. The MPC adopts a wait-and-see approach before its next move. This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. 2. Exencial Economy Tidings 01/10/2025 Bankers Optimistic on Loan Demand and Terms: RBI Lending Survey Capacity utilisation declines to 74.1% in Q1FY26: RBI OBICUS survey New project announcements fall to Rs.5.2 trillion in September 2025 quarter 3.

In this briefing: Exencial Economy Tidings 01/10/2025 GST Exemption: A Catalyst for Growth and Margin Headwinds for ICICI Prudential Life RateGain Acquisition of Sojern: A Travel Tech Powerhouse in the Making? Exencial Industry Tidings 01/10/2025 Tata Capital IPO: RHP Update Points to Mixed Fundamentals 1. Exencial Economy Tidings 01/10/2025 Bankers Optimistic on Loan Demand and Terms: RBI Lending Survey Capacity utilisation declines to 74.1% in Q1FY26: RBI OBICUS survey New project announcements fall to Rs.5.2 trillion in September 2025 quarter 2. GST Exemption: A Catalyst for Growth and Margin Headwinds for ICICI Prudential Life The GST Council's decision to exempt all individual life and health insurance premiums from GST (0% vs. 18% earlier), effective September 22, 2025, is a landmark affordability move. The immediate drop in premiums for products like term and ULIPs is expected to drive a significant surge in demand, though insurers like ICICI Prudential will lose ITC on expenses.

In this briefing: GST Exemption: A Catalyst for Growth and Margin Headwinds for ICICI Prudential Life RateGain Acquisition of Sojern: A Travel Tech Powerhouse in the Making? Exencial Industry Tidings 01/10/2025 Tata Capital IPO: RHP Update Points to Mixed Fundamentals Long ICICI (ICICIBC IN), Short HDFC (HDFCB IN): Fresh Statistical Arbitrage Signal in Indian Banks 1. GST Exemption: A Catalyst for Growth and Margin Headwinds for ICICI Prudential Life The GST Council's decision to exempt all individual life and health insurance premiums from GST (0% vs. 18% earlier), effective September 22, 2025, is a landmark affordability move. The immediate drop in premiums for products like term and ULIPs is expected to drive a significant surge in demand, though insurers like ICICI Prudential will lose ITC on expenses. While the volume boost from higher affordability is a major long-term catalyst, immediate margin compression from ITC loss on commissions will require operational efficiency and pricing recalibration for ICICI Prudential. 2.

In this briefing: RateGain Acquisition of Sojern: A Travel Tech Powerhouse in the Making? Exencial Industry Tidings 01/10/2025 Tata Capital IPO: RHP Update Points to Mixed Fundamentals Long ICICI (ICICIBC IN), Short HDFC (HDFCB IN): Fresh Statistical Arbitrage Signal in Indian Banks Capillary Technologies India Pre-IPO: Increased Monetization But CFO Turned Negative 1. RateGain Acquisition of Sojern: A Travel Tech Powerhouse in the Making? RateGain Travel Technologies has entered into a definitive agreement to acquire US-based, AI-powered travel marketing platform Sojern for an upfront consideration of $250 million. The acquisition is a bold move to create a scaled , AI-first digital marketing and distribution platform, significantly boosting RateGain's MarTech business and nearly tripling its revenue/EBITDA run-rate (pre-synergies). The strategic upside of owning the full guest acquisition-to-retention cycle justifies the blended financing structure and the integration risk of two large , geographically dispersed travel tech companies. 2.

Pharma, autos, and media stocks led early gains, while Tata Motors and Atlantaa were among top movers.

After eight days of losses, markets may see a cautious start as the RBI policy decision takes center stage. Stock-specific action is expected in pharma, auto, and PSU banking counters.

… Price Movement of RateGain Travel Technologies Ltd. (Source: Screener.in) But … tech company owned by one of the world’s biggest software firms … of the best in the industry . That means for every Re … on data from annual and industry reports. We have used our …