May 18 (PTI) Microfinance institution Arohan Financial Services has filed preliminary papers with market regulator Sebi to raise funds through an initial public offering (IPO), comprising a fresh issue of shares worth Rs 600 crore.

Apart from the fresh issue, there will be an offer for sale (OFS) of 4.04 crore shares by existing investors, according to the draft red herring prospectus (DRHP) filed with Sebi.

US Teachers Insurance and Annuity Association, a retirement financial services firm, Michael & Susan Dell Foundation, Aavishkaar Goodwell India Microfinance Development Company-II Ltd, Tano Capital, TR Capital III Mauritius, and Danish Sustainable Development Goals Investment Fund, among other existing investors, will offload shares.

Proceeds from the fresh issue will be used to boost the company’s capital base and for general corporate purposes, the draft papers filed last week showed.

Earlier in January, Arohan Financial Services Managing Director Manoj Kumar Nambiar stated that the company is looking to raise Rs 1,500 crore through its maiden public offering.

Arohan Financial Services is a technology-enabled non-banking financial company -microfinance institution (NBFC-MFI) offering income-generating loans and a suite of financial and non-financial products to customers primarily across rural and semi-urban states in India.
It had an assets under management (AUM) of Rs 6,308 crore as of December 2025.Arohan Financial Services, which commenced its business in 2006 with operations in a single location in Kolkata, has gradually expanded its footprint. As of December 2025, it operates 1,073 branches across 17 states in the country.

The filing comes after the successful listings of Aye Finance and Kissht in 2026.

DAM Capital Advisors, Motilal Oswal Investment Advisors and SBI Capital Markets are managing the issue. PTI

Bhubaneswar, Volatility has shot up in the financial markets due to the ongoing West Asia conflict, but the Indian bourses have the capacity to “absorb different types of shocks”, Sebi Chairman Tuhin Kanta Pandey said on Monday.

When there is a crisis in one part of the world, it also impacts the rest of the globe, Pandey told reporters here on the sideline of the Regional Investors Seminar for Awareness.

“Due to the prevailing conflict in West Asia, the oil supply chain and its prices got affected in the rest of the world. All the economies have been affected by this and obviously, there are inflationary risks. Besides, spillover effect and second-order effect will also come in,” he said.

“However, the advantages of a resilient Indian market are that it is able to absorb different types of shocks, and when these end, the market again resumes its normal trajectory,” Pandey said.

He also admitted that there have been some foreign portfolio investment outflows since September 2024, but domestic investors have “retained their confidence”.

“Ups and downs in the market are quite natural because globally they are interconnected,” the Sebi chairman said. PTI

“Today’s policymaking is constrained by a more volatile external environment with more frequent and overlapping shocks, a rising public interest bill, in part reflecting market concerns with countries’ elevated debt, and the long-standing challenge of weak productivity growth,” he said.

NEW YORK — Residents across the Mid-Atlantic and Northeast braced for another round of heavy rainfall Monday as National Weather Service forecasters issued flood watches and flash flood warnings for parts of New York, New Jersey, Pennsylvania and Maryland, warning of rapid rises in rivers, urban flooding and dangerous road conditions.

A slow-moving frontal system continued to pump moisture into the region, with some areas already soaked from weekend downpours facing the risk of additional 2 to 4 inches of rain through Tuesday. Forecasters placed much of the region under flood watches, with flash flood warnings active in vulnerable urban corridors and low-lying areas.

The National Weather Service’s Weather Prediction Center highlighted marginal risks of excessive rainfall in parts of the Northeast, though localized training thunderstorms could produce extreme hourly totals capable of overwhelming storm drains and small streams. Officials urged residents to avoid travel if possible and to never drive through flooded roadways.

In New York City, officials activated the city’s Flooding Emergency Plan as the mayor’s office warned of potential street flooding in low-lying neighborhoods in Brooklyn, Queens and Staten Island. Subway stations in flood-prone zones saw increased monitoring, with sandbags deployed at key entrances. Commuters faced delays on major routes including the FDR Drive, Cross Bronx Expressway and Belt Parkway.

New Jersey authorities reported flash flood warnings in several northern and central counties. The New Jersey Turnpike and Garden State Parkway experienced ponding in spots, prompting state police to advise reduced speeds. Coastal areas from Atlantic City northward remained under heightened scrutiny for possible minor tidal flooding combined with heavy rain runoff.

Pennsylvania’s Philadelphia region and surrounding suburbs faced the brunt of the system. The National Weather Service office in Mount Holly, New Jersey, covering eastern Pennsylvania, issued multiple warnings as thunderstorms intensified. Urban flooding has already been reported in parts of Philadelphia, with vehicles stranded in underpasses. Emergency crews conducted several water rescues overnight and into Monday morning.

Maryland officials activated emergency operations as flash flood warnings covered portions of the state, particularly areas near Baltimore and the Chesapeake Bay watershed. Rivers and streams already running high from earlier rains in the region faced further rises, with some locations approaching minor flood stage.

Meteorologists attributed the persistent wet pattern to a stalled frontal boundary interacting with ample Gulf moisture. Precipitable water values remained elevated, supporting repeated rounds of showers and thunderstorms. While widespread river flooding remains a lower threat in the immediate term, flash flooding and poor drainage issues pose the greatest dangers.

This latest round follows a series of active weather events across the Mid-Atlantic in recent weeks. Earlier in May, slow-moving systems triggered significant flooding in parts of the region, with schools evacuated and roads closed. The pattern has raised concerns about cumulative impacts on saturated soils and overwhelmed infrastructure.

Emergency management officials in all four states emphasized safety messages. “Turn around, don’t drown” campaigns gained renewed urgency as social media filled with videos of vehicles navigating high water. First responders stressed that just six inches of moving water can sweep away a car, while a foot can carry away larger vehicles.

In New York, Gov. Kathy Hochul’s office coordinated with local agencies to prepare for potential power outages and debris. Utility companies prepositioned crews in anticipation of lightning and wind damage from stronger cells. Similar preparations occurred in Trenton, Harrisburg and Annapolis.

The economic toll of repeated flooding events continues to mount. Businesses in flood-prone downtown areas reported closures, and schools in several districts shifted to remote learning or delayed openings. Insurance claims from earlier May floods already strain local resources, with officials warning of higher premiums in vulnerable zones.

Climate experts note that such back-to-back heavy rain events align with broader trends of intensified precipitation in the Northeast due to warming temperatures. A warmer atmosphere holds more moisture, leading to heavier downpours when conditions align. This event serves as another reminder of the region’s increasing vulnerability to extreme rainfall.

Forecasters expect gradual improvement mid-week as the system shifts eastward. Drier air and higher pressure should return by Thursday, offering a chance for drying and assessment of damage. However, another disturbance could bring additional showers by the weekend.

Residents are advised to stay informed through official channels. The National Weather Service, local emergency management and apps like Notify NYC provide real-time updates. Homeowners should clear gutters, secure outdoor items and prepare emergency kits with flashlights, batteries, non-perishable food and medications.

Agricultural impacts also emerged as a concern. Pennsylvania and New Jersey farmers reported delays in planting and concerns over waterlogged fields affecting crops. Maryland’s Eastern Shore faced similar challenges with potential runoff carrying nutrients into the Chesapeake Bay, exacerbating water quality issues.

Transportation hubs braced for disruptions. Amtrak adjusted schedules on the Northeast Corridor, while major airports including JFK, Newark and Philadelphia monitored for lightning and wind shear. Commuter rail lines operated on modified timetables where flooding threatened tracks.

As the rains continue into Monday evening, officials continue to monitor river gauges and urban drainage systems closely. The combination of saturated ground and additional precipitation creates a high-risk scenario for localized flooding that can develop with little warning. Communities with histories of flooding, including parts of the Lehigh Valley, Hudson Valley and Baltimore metro, remain especially vigilant.

This weather event underscores the importance of preparedness in a region increasingly prone to heavy precipitation. While no widespread catastrophic flooding is currently expected, the potential for dangerous flash flooding demands respect and caution from all residents. Authorities will continue issuing updates as conditions evolve throughout the day and into the week.