State-owned India Infrastructure Finance Company has received the necessary approvals to proceed with its proposed initial public offer, with the Cabinet Committee on Economic Affairs clearing its listing on stock exchanges, the company’s top official has said.

The approval has already been conveyed by the Department of Investment and Public Asset Management (DIPAM) to the company, IIFCL‘s newly appointed MD Rohit Rishi told PTI.

“IIFCL (India Infrastructure Finance Company Ltd) is in the process of submitting the requisite details to the government to facilitate finalisation of the modalities, which is expected to materialise in the next financial year,” he said.

The Budget 2026-27 provides emphasis on disinvestment and asset monetisation. The proposed initial public offer (IPO) forms part of the government’s broader disinvestment and capital market listing strategy for public sector entities.

Currently, IIFCL is 100 per cent owned by the central government. Established in 2006, it provides long-term financial assistance to viable infrastructure projects.

The authorised and paid-up capital of the company stood at Rs 10,000 crore and Rs 9,999.92 crore, respectively, as of March 31, 2025.
IIFCL has been registered as an NBFC-ND-IFC with the Reserve Bank of India (RBI) since September 2013 and follows the applicable prudential norms of the Reserve Bank of India.Sharing his vision for the organisation, Rishi said infrastructure development is going to play a pivotal role in the journey towards Viksit Bharat by 2047, and IIFCL has a central role to play as a provider and catalyst of long-term infrastructure finance.

“My vision for the institution can be captured in three words — Improve. Develop. Transform,” said Rishi, who assumed charge of the organisation last month.

“We will improve the quality and scale of infrastructure financing through disciplined appraisal standards and technology-enabled monitoring. As we grow, asset quality and prudent risk management will remain non-negotiable,” he pointed out.

He further said that another goal is to develop a stronger and more diversified long-term funding base.

“Infrastructure requires patient capital. We will deepen our engagement with multilaterals, global investors, and bond markets, and continue innovating in resource mobilisation so that we can provide stable, competitive, long-tenor financing,” he said.

IIFCL will transform its operations by harnessing technology, AI and data analytics to modernise project monitoring, strengthen transparency and enable early risk identification.

At the same time, he said, “We will focus on portfolio diversification into emerging sectors, such as renewable energy, digital infrastructure, EV ecosystems, and green hydrogen”.

Above all, Rishi said, “every decision we take will be anchored in nation-building, ensuring that IIFCL meaningfully contributes to India’s infrastructure-led growth in the decades ahead”.

IIFCL reported a 39 per cent jump in net profit to Rs 2,165 crore for the fiscal year ended in March 2025 against Rs 1,552 crore in the previous fiscal.

The company recorded its all-time high performance, for the fifth year in a row, with record Profit Before Tax (PBT) of Rs 2,776 crore, recording a growth of 37 per cent over the previous year’s Rs 2,029 crore.

In the previous financial year, the company recorded its highest-ever annual sanctions and disbursements of Rs 51,124 crore and Rs 28,501 crore, respectively.

Building on this strong performance, IIFCL continues to sustain its growth momentum and is on track to surpass the previous year’s results. As of January 31, 2026, annual sanctions have already reached Rs 53,217 crore, with disbursements at Rs 25,470 crore.

The Ottawa Senators delivered a resounding statement in the latest installment of the Battle of Ontario, overpowering the Toronto Maple Leafs 5-2 on Saturday night at Scotiabank Arena with a dominant second-period outburst that left the hosts reeling.

Drake Batherson and Dylan Cozens each tallied two goals and combined for five points, while Thomas Chabot contributed a goal and an assist as the Senators improved to 29-22-8 and kept their playoff aspirations alive. Linus Ullmark turned aside 21 shots for the victory, providing steady netminding behind an aggressive offensive attack.

The Maple Leafs, now 27-24-9, suffered their third straight loss since the Olympic break and fell further behind in the Eastern Conference wildcard race. Morgan Rielly and William Nylander scored for Toronto, but the team struggled defensively, particularly in the middle frame where Ottawa erupted for four goals.

The game began with promise for the home side. Rielly opened the scoring midway through the first period, firing a shot past Ullmark during a power play to give Toronto a 1-0 lead. The goal energized Scotiabank Arena, but the Senators responded quickly. Chabot tied it at 1-1 late in the opening period with a sharp wrister from the point, assisted by Cozens, knotting the score heading into the intermission.

The second period belonged entirely to Ottawa. Batherson put the Senators ahead 2-1 early in the frame, capitalizing on a rebound opportunity. Just 51 seconds later, Nylander answered for Toronto, roofing a shot to tie it at 2-2 and briefly quiet the visiting bench. But Ottawa’s momentum proved unstoppable.

Cozens restored the lead with a power-play goal, beating Joseph Woll glove side to make it 3-2. Batherson added his second of the night and 20th of the season shortly after, burying another chance to push the advantage to 4-2. Cozens capped the barrage with his second goal, a power-play tally that extended the lead to 5-2 and effectively sealed the outcome.

Toronto coach Sheldon Keefe pulled Woll late in the second after he allowed five goals on 28 shots. Anthony Stolarz entered in relief and stopped all 12 shots he faced in the third, but the damage was done.

The Senators’ second-period surge highlighted their recent form. Ottawa has gone 6-1-1 in its past eight games, showing resilience and offensive firepower that has kept them in the wildcard conversation. With 23 games remaining, the win moved them within five points of the final Eastern Conference playoff spot.

Postgame, Senators forward Drake Batherson praised the team’s execution. “We stuck to our game plan, played with pace and capitalized on chances,” Batherson said. “It’s big to come in here and get two points against a division rival.”

Dylan Cozens, who recorded three points, echoed the sentiment. “Our belief is so high right now,” Cozens told reporters. “We played a great 60 minutes.”

For the Maple Leafs, frustration was evident. The team has struggled to find consistency since returning from the break, with defensive lapses proving costly. Rielly’s goal provided an early spark, but the inability to contain Ottawa’s rush led to breakdowns.

“We’re embarrassed by that performance,” one Maple Leafs player said anonymously after the game, per reports. The loss dropped Toronto to 16-10-6 at home this season and raised questions about their playoff readiness.

Ullmark’s 21-save effort was crucial, especially in the third period when Toronto pushed for a comeback. The Senators’ goaltender remained composed, denying several quality chances to preserve the lead.

The rivalry between these two Ontario teams always carries extra intensity, with fans from both sides filling the arena. Saturday’s matchup lived up to the billing early but turned into a one-sided affair as Ottawa pulled away.

The Senators now embark on a five-game road trip, looking to build on this momentum. Toronto faces a quick turnaround and will aim to snap its skid against upcoming opponents.

Highlights from the game included Batherson’s rebound goal to make it 3-1, Nylander’s quick response 51 seconds later, and Cozens’ power-play snipe that punctuated the second-period dominance. NHL.com and other outlets featured condensed recaps showing the key sequences, with fans online buzzing about the Senators’ clinical finishing.

As the NHL season progresses toward the trade deadline and playoff push, performances like this could define trajectories. For Ottawa, the win boosts confidence and standings position. For Toronto, it’s a wake-up call amid a challenging stretch.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given that any particular security, portfolio, transaction or investment strategy is suitable for any specific person. The author is not advising you personally concerning the nature, potential, value or suitability of any particular security or other matter. You alone are solely responsible for determining whether any investment, security or strategy, or any product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. Steven Cress is the Head of Quantitative Strategy at Seeking Alpha. Any views or opinions expressed herein may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

At least eight people were killed and more than 40 injured when thousands of protesters stormed the US Consulate General in Karachi on March 1, 2026, in violent demonstrations triggered by Iran’s official confirmation that Supreme Leader Ayatollah Ali Khamenei was killed in joint US-Israeli airstrikes two days earlier.

The assault on the heavily fortified diplomatic compound in Clifton began shortly after 2 p.m. local time when a large crowd, estimated at 15,000–20,000 by police, breached outer security barriers despite heavy deployment of Rangers and Sindh police. Demonstrators, many waving Iranian and Palestinian flags and chanting anti-American and anti-Israeli slogans, hurled petrol bombs, stones and fireworks at the perimeter wall while attempting to scale it.

Security forces responded with tear gas, rubber bullets and, according to eyewitness accounts and video footage verified by Reuters and Dawn, live ammunition after protesters set fire to vehicles and tried to force open the main gate. Karachi police spokesperson Atiq Shah confirmed eight deaths — seven protesters and one security guard — and 43 injuries, including 12 police officers and several journalists covering the rally. Hospital officials at Jinnah Postgraduate Medical Centre and Civil Hospital Karachi reported most casualties suffered gunshot wounds or severe burns.

The violence erupted hours after Iran’s state broadcaster IRIB aired a short statement from the office of the Supreme Leader acknowledging Khamenei’s death “as a martyr in defense of the Islamic Republic” during “Zionist-American aggression.” The announcement, read by a somber presenter, ended weeks of conflicting reports that began when US President Donald Trump claimed on February 28 that Khamenei had been killed in strikes on his Tehran residence. Iranian officials initially denied the claim, insisting he was “commanding the field,” but the IRIB broadcast included a pre-recorded video message from Khamenei dated February 25, widely interpreted as his final public statement.

The confirmation ignited outrage across the Muslim world. In Karachi — Pakistan’s largest city and commercial hub with a large Shia population — religious parties including Jamaat-e-Islami, Tehreek-e-Labbaik Pakistan and Majlis Wahdat-e-Muslimeen called for nationwide protests. Rally organizers had announced a “million-man march” to condemn the “martyrdom” of Khamenei and demand Pakistan sever ties with the United States.

By mid-afternoon, protesters had torched at least three vehicles near the consulate and damaged outer fencing. Police fired volleys of tear gas and used water cannons, but the crowd pressed forward, overwhelming initial lines. Video circulated on social media showed masked men attempting to climb the consulate wall while others chanted “Death to America” and “Death to Israel.” Consulate staff were evacuated to a secure location earlier in the day as a precautionary measure, a US Embassy spokesperson confirmed.

Sindh Chief Minister Syed Murad Ali Shah condemned the attack on the consulate as “unacceptable” and ordered a high-level inquiry. Federal Interior Minister Mohsin Naqvi said the government would not tolerate violence against diplomatic missions and promised “strict action” against those responsible. Pakistan’s Foreign Office summoned the US Chargé d’Affaires to lodge a formal protest over the strikes on Iran, while reiterating Islamabad’s call for de-escalation.

The US State Department issued a strong condemnation of the violence, describing the assault as “unacceptable” and urging Pakistani authorities to protect diplomatic personnel and property. “We hold the Government of Pakistan responsible for the safety of our facilities and personnel,” a spokesperson said. The consulate remained closed to the public, with non-essential staff advised to shelter in place.

The Karachi unrest was the most severe of several protests across Pakistan following Khamenei’s confirmed death. Demonstrations also erupted in Lahore, Multan, Quetta and Islamabad, though none reached the same intensity. In Tehran, tens of thousands gathered for Khamenei’s funeral procession, with Acting Supreme Leader Mohammad-Mokhber leading prayers and vowing “severe revenge.”

The US-Israel operation, dubbed “Operation Epic Fury,” targeted Iranian nuclear sites, missile bases and leadership compounds starting February 28. Trump described the strikes as necessary to eliminate threats, while Israeli Prime Minister Benjamin Netanyahu called them pre-emptive. Iran retaliated with missile barrages against Israel and US bases in the Gulf, killing one civilian in Abu Dhabi and injuring several others.

Pakistan’s government has walked a delicate line, condemning the strikes on Iran while maintaining security cooperation with the United States. Prime Minister Shehbaz Sharif spoke with Iranian officials March 1 to express condolences and reiterated Pakistan’s support for Iran’s sovereignty.

Security remained tight around other Western diplomatic missions in Karachi and Islamabad on March 2, with additional Rangers deployed. Authorities imposed Section 144 restrictions banning public gatherings in sensitive areas of Karachi for 48 hours.

The death toll and images of burning vehicles near the consulate have drawn international concern. The United Nations called for restraint, while human rights groups urged Pakistani authorities to investigate the use of lethal force.

As Karachi remained tense and cleanup crews worked through the night, the incident underscored the rapid spillover of the Iran crisis into South Asia, testing Pakistan’s balancing act between domestic religious sentiment and international alliances.

This article was written by

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Stern claimed to have been very well connected in China. In one 2011 email he apparently claims to be friends with Louis Cheung, the president of Ping An, one of the world’s largest insurance companies, and Alvin Jiang, the grandson of the former president Jiang Zemin. Stern claims to have met Levin Zhu, the son of the former premier Zhu Rongji.