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Time of India
2 days ago
- Business
- Time of India
NBFCs put IPO plans on fast track, could raise over Rs 30,000cr
Mumbai : Non-bank lenders are expected to rush initial public offerings (IPO) to benefit from an easier regulatory regime, lower interest rates, an improving credit cycle, and increasingly positive market sentiment that has taken the broadest equity gauges to their highest in nearly nine months. There are several NBFCs that already have IPO approvals from the Securities and Exchange Board of India (Sebi). But they were seeking a better market opportunity, and are likely to speed up listing plans. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nhà tiền chế 2025: Lựa chọn nhà ở giá cả phải chăng (Xem ngay) Nomad's Notebook Nhấp vào đây Undo Vehicle and business loan company SK Finance , education loan focused Avanse Financial and Credila Financial and MSME loan company Veritas Finance are expected to raise an aggregate amount of ₹13,500 crore, bankers said. ET Bureau There is also a likely bumper IPO from the $400-billion market cap salt-to-steel Tata Group as its long incubated NBFC, Tata Capital, plans to raise ₹17,200 crore in what could be among the largest public issues this fiscal. Live Events 'Conditions are more favourable for NBFCs that have lined up for the capital markets because of the regulatory change of stance, ample liquidity in the banking system, and a favourable rate cycle,' said Ajay Saraf, executive director, ICICI Securities, one of the bankers appointed to manage the ₹2,200 crore SK Finance issue and the bumper Tata Capital sale. Analysts and bankers said the central bank's reduction in risk weights for bank lending to NBFCs in this fiscal along with the cumulative 100 basis points cut in the benchmark repo rate in 2025 calendar so far should address the funding challenge NBFCs faced in 2024. One basis point is a hundredth of a percentage point. 'The worst of the NBFC credit cycle is also behind us. The elevated credit costs that we saw in 2024 are easing, so it is fair to expect that in the second and third quarter onwards we could see some capital raising from the NBFCs,' said Shreepal Doshi, lead analyst, NBFCs, Equirus Securities. To be sure, most of the IPO-bound NBFCs are backed by private equity funds, which are looking to fully or partially exit the companies. SK Finance counts Norwest Venture Partners, TPG Growth, Baring Private Equity India and Motilal Oswal's PE arm — MO Alternate Investment Advisors as investors. Credila Financial, promoted by the erstwhile HDFC, now counts EQT and ChrysCapital as it's majority investors, while Kedaara Capital, Norwest Venture Partners, British International Investment (BII), Lok Capital and Growth Catalyst are investors in Veritas.
Economic Times
30-05-2025
- Business
- Economic Times
Market surge leads to Rs 50,000 crore worth stake sales by promoters and shareholders
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: The stock market rebound in the past few months has prompted dominant shareholders and promoters of companies to trim their far this month, they have sold shares worth over ₹50,000 crore through bulk and block deals on the bourses after a lull, continuing from where they left off before October, when the stock market was in the midst of a bull to exchange data, prominent shareholders and promoters divested stakes in ITC InterGlobe Aviation (IndiGo), PNB Housing and One 97 Communications (Paytm) this month, along with Kfin Technologies , KPR Mill and PG Electroplast. The divestments ranged from ₹1,133 crore to ₹12,941 crore since May 1."A significant amount of domestic liquidity had been waiting on the sidelines for market stability," said Ajay Saraf, ED and head of investment banking at ICICI Securities. "With foreign funds turning positive on India's secondary market and key overhangs like geopolitical tensions and tariff concerns easing, the deal market has roared back to life."This momentum is expected to continue as long as the current positive sentiment holds and no major crisis disrupts the environment, said the largest deals, British American Tobacco sold 2.5% of its stake in ITC , worth ₹12,941 crore while Singtel affiliate Pastel Ltd sold Bharti Airtel shares worth ₹12,880 crore. BAT is the largest shareholder in ITC, while Singtel is part of the promoter group of Bharti. InterGlobe Aviation promoter Rakesh Gangwal and his family trust sold a 5.72% stake for about ₹11,564 equity firm Carlyle's subsidiary, Quality Investment Holdings, offloaded its entire stake of 10.4% in PNB Housing Finance worth ₹2,713 crore. Ant Financial, the fintech subsidiary of Alibaba Group, sold shares of One 97 Communications worth ₹2,104 crore through open-market Technologies promoter General Atlantic Singapore Fund Pte sold shares worth ₹1,790 crore."The resurgence in Indian equity capital market deals is being driven by a confluence of positive factors - stabilising geopolitical tensions, easing trade uncertainties, encouraging full-year corporate earnings, improving high-frequency macro indicators, renewed FII interest, and sustained retail inflows into domestic mutual funds," said Ranvir Davda, co-head of investment banking at HSBC India. "We believe that IPOs, blocks, and follow-on activity in the second half of calendar year 2025 will be significantly higher compared to the first half, with multiple companies having already received Sebi approval and several other listed companies having announced plans for fund-raising."The selling in the secondary market was not limited to large caps and extended to small and midcap companies such as PG Electroplast and KPR Mill, in which promoters reduced stakes by selling shares worth ₹1,132 crore and ₹1,232 crore, respectively. So far in May, the Nifty 50 has gained 2.05% while the Nifty Midcap 150 has risen 6.5% and the Smallcap 250 has advanced 9.2%."FY24 saw an all-time high in promoter exits, which was also on the back of a bullish market," said Pranav Haldea, MD, Prime Database Group. "While promoter buying is always a good sign, reasons for exit can vary and range from cashing out due to good valuation, setting up other businesses, debt reduction and personal reasons."While policy announcements from the US remain unpredictable, the momentum in open-market transactions looks likely to continue, he said.
Time of India
30-05-2025
- Business
- Time of India
Market surge leads to Rs 50,000 crore worth stake sales by promoters and shareholders
While policy announcements from the US remain unpredictable, the momentum in open-market transactions looks likely to continue, he said. Shareholders are selling company stakes. This follows a stock market recovery. Over ₹50,000 crore in shares have been sold this month. Deals involve companies like ITC, Bharti Airtel and IndiGo. Experts believe this trend will continue. Positive market sentiment and easing global concerns are driving the sales. Several companies are planning to raise funds soon. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: The stock market rebound in the past few months has prompted dominant shareholders and promoters of companies to trim their far this month, they have sold shares worth over ₹50,000 crore through bulk and block deals on the bourses after a lull, continuing from where they left off before October, when the stock market was in the midst of a bull to exchange data, prominent shareholders and promoters divested stakes in ITC InterGlobe Aviation (IndiGo), PNB Housing and One 97 Communications (Paytm) this month, along with Kfin Technologies , KPR Mill and PG Electroplast. The divestments ranged from ₹1,133 crore to ₹12,941 crore since May 1."A significant amount of domestic liquidity had been waiting on the sidelines for market stability," said Ajay Saraf, ED and head of investment banking at ICICI Securities. "With foreign funds turning positive on India's secondary market and key overhangs like geopolitical tensions and tariff concerns easing, the deal market has roared back to life."This momentum is expected to continue as long as the current positive sentiment holds and no major crisis disrupts the environment, said the largest deals, British American Tobacco sold 2.5% of its stake in ITC , worth ₹12,941 crore while Singtel affiliate Pastel Ltd sold Bharti Airtel shares worth ₹12,880 crore. BAT is the largest shareholder in ITC, while Singtel is part of the promoter group of Bharti. InterGlobe Aviation promoter Rakesh Gangwal and his family trust sold a 5.72% stake for about ₹11,564 equity firm Carlyle's subsidiary, Quality Investment Holdings, offloaded its entire stake of 10.4% in PNB Housing Finance worth ₹2,713 crore. Ant Financial, the fintech subsidiary of Alibaba Group, sold shares of One 97 Communications worth ₹2,104 crore through open-market Technologies promoter General Atlantic Singapore Fund Pte sold shares worth ₹1,790 crore."The resurgence in Indian equity capital market deals is being driven by a confluence of positive factors - stabilising geopolitical tensions, easing trade uncertainties, encouraging full-year corporate earnings, improving high-frequency macro indicators, renewed FII interest, and sustained retail inflows into domestic mutual funds," said Ranvir Davda, co-head of investment banking at HSBC India. "We believe that IPOs, blocks, and follow-on activity in the second half of calendar year 2025 will be significantly higher compared to the first half, with multiple companies having already received Sebi approval and several other listed companies having announced plans for fund-raising."The selling in the secondary market was not limited to large caps and extended to small and midcap companies such as PG Electroplast and KPR Mill, in which promoters reduced stakes by selling shares worth ₹1,132 crore and ₹1,232 crore, respectively. So far in May, the Nifty 50 has gained 2.05% while the Nifty Midcap 150 has risen 6.5% and the Smallcap 250 has advanced 9.2%."FY24 saw an all-time high in promoter exits, which was also on the back of a bullish market," said Pranav Haldea, MD, Prime Database Group. "While promoter buying is always a good sign, reasons for exit can vary and range from cashing out due to good valuation, setting up other businesses, debt reduction and personal reasons."While policy announcements from the US remain unpredictable, the momentum in open-market transactions looks likely to continue, he said.
Time of India
30-05-2025
- Business
- Time of India
D-St Bull Run Fires up Blockbuster Deals of Promoters, Shareholders
The stock market rebound in the past few months has prompted dominant shareholders and promoters of companies to trim their stakes. So far this month, they have sold shares worth over ₹50,000 crore through bulk and block deals on the bourses after a lull, continuing from where they left off before October, when the stock market was in the midst of a bull run. According to exchange data, prominent shareholders and promoters divested stakes in ITC, Bharti Airtel, InterGlobe Aviation (IndiGo), PNB Housing and One 97 Communications (Paytm) this month, along with Kfin Technologies, KPR Mill and PG Electroplast. The divestments ranged from ₹1,133 crore to ₹12,941 crore since May 1. 'A significant amount of domestic liquidity had been waiting on the sidelines for market stability,' said Ajay Saraf, ED and head of investment banking at ICICI Securities. 'With foreign funds turning positive on India's secondary market and key overhangs like geopolitical tensions and tariff concerns easing, the deal market has roared back to life.' This momentum is expected to continue as long as the current positive sentiment holds and no major crisis disrupts the environment, said Saraf. Among the largest deals, British American Tobacco sold 2.5% of its stake in ITC, worth ₹12,941 crore while Singtel affiliate Pastel Ltd sold Bharti Airtel shares worth ₹12,880 crore. BAT is the largest shareholder in ITC, while Singtel is part of the promoter group of Bharti. InterGlobe Aviation promoter Rakesh Gangwal and his family trust sold a 5.72% stake for about ₹11,564 crore. Private equity firm Carlyle's subsidiary, Quality Investment Holdings, offloaded its entire stake of 10.4% in PNB Housing Finance worth ₹2,713 crore. Ant Financial, the fintech subsidiary of Alibaba Group, sold shares of One 97 Communications worth ₹2,104 crore through open-market transactions. Kfin Technologies promoter General Atlantic Singapore Fund Pte sold shares worth ₹1,790 crore. 'The resurgence in Indian equity capital market deals is being driven by a confluence of positive factors — stabilising geopolitical tensions, easing trade uncertainties, encouraging full-year corporate earnings, improving high-frequency macro indicators, renewed FII interest, and sustained retail inflows into domestic mutual funds,' said Ranvir Davda, co-head of investment banking at HSBC India. 'We believe that IPOs, blocks, and follow-on activity in the second half of calendar year 2025 will be significantly higher compared to the first half, with multiple companies having already received Sebi approval and several other listed companies having announced plans for fund-raising.' The selling in the secondary market was not limited to large caps and extended to small and midcap companies such as PG Electroplast and KPR Mill, in which promoters reduced stakes by selling shares worth ₹1,132 crore and ₹1,232 crore, respectively. So far in May, the Nifty 50 has gained 2.05% while the Nifty Midcap 150 has risen 6.5% and the Smallcap 250 has advanced 9.2%. 'FY24 saw an all-time high in promoter exits, which was also on the back of a bullish market,' said Pranav Haldea, MD, Prime Database Group. 'While promoter buying is always a good sign, reasons for exit can vary and range from cashing out due to good valuation, setting up other businesses, debt reduction and personal reasons.' While policy announcements from the US remain unpredictable, the momentum in open-market transactions looks likely to continue, he said.
