The board of HDFC Bank has given its in-principle approval to take its financial services unit HDB Financial Services public through an initial public offering (IPO). Under the IPO, the fresh equity sale will be Rs 2,500 crore. There will be an offer-for-sale component, where interested existing and eligible shareholders of the company may offer … Read more
HDB Financial services, the non-banking financing arm of HDFC Bank, is awaiting the signal from its parent to begin the listing process. The lender also has plans to open nearly 200 branches in the current fiscal year as it aims to grow its loan book. “We are ready; it’s just that when we will be … Read more
“UGRO is now expanding from its current base of 105 locations to 250 locations this year and 400 next year and all of these physical infrastructure which we are building is in tier II to tier V town,” says Shachindra Nath, Founder & MD, UGRO Capital.We have heard a lot in terms of how the … Read more
Mumbai: Hero FinCorp, the financial services arm of India’s leading two-wheeler maker Hero MotoCorp, will likely file its draft red herring prospectus (DRHP) next month for an initial public offering (IPO), according to investment banking sources. The share sale could be worth ₹5,300 crore to ₹5,500 crore, making it the largest ever public issue by … Read more
Hero FinCorp, a subsidiary of Hero MotoCorp, will raise funds through an initial public offering (IPO), which will comprise a fresh issue of shares worth up to Rs 4,000 crore and an offer for sale by certain existing and eligible shareholders. “This is to inform you that the Board of Directors of the Company in … Read more
Tata Motors is planning to hive off its vehicle financing subsidiaries under Tata Motors Finance Ltd by way of a merger with Tata Capital, to streamline its operations and deleverage its balance sheet, said people in the know. The process will involve a share-swap agreement. Group holding company Tata Sons will offer shares of Tata … Read more
Mumbai: Analysts at most top brokerages reduced or retained their share price targets on Bajaj Finance after the company’s March quarter results showed net interest margins are under pressure, raising concerns over its near-term outlook. The stock fell 7.7% Friday to close at ₹6,731. The average analyst price targets on Bajaj Finance after the fourth … Read more
Shachindra Nath, Founder & MD, UGRO Capital, says “UGRO is now becoming India’s largest, most dedicated data tech driven MSME financing company and we keep saying MSME accha hai, which means the underlying MSME economy and especially the micro enterprises economy is becoming so robust and the recent Crisil upgrade to “A” is a reflection … Read more
Mumbai: Adani Capital, a non-banking financial company of the Adani Group, on Friday raised ₹300 crore in three-year senior secured bonds offering 9.75% coupon, people aware of the development said. Bondholders can accelerate payments if the Adani Group’s proposed stake sale in Adani Capital to Bain Capital is called off or if the capital adequacy … Read more
