Latest news with #NBFC
Time of India
2 hours ago
- Business
- Time of India
NPAs in the gold loan sector will not go up due to a surge in gold prices, says Indel's Umesh Mohanan
Synopsis Indel Money's Executive Director, Umesh Mohanan, anticipates no NPA surge in the gold loan sector despite rising gold prices. RBI's revised gold loan guidelines, accommodating stakeholder concerns with LTV relaxations, will benefit small borrowers and sustain NBFC growth. Secured debt funding via NCDs enhances transparency and financial stability for gold loan companies.
Time of India
14 hours ago
- Business
- Time of India
HDB Fin's IPO subscribed 17x, most in 4 years
MUMBAI: The IPO segment of the market is back to its glory days again. On Friday, the Rs 12,500-crore maiden offer for HDB Financial, an arm of HDFC Bank , was subscribed nearly 17 times with the total demand worth almost Rs 1.6 lakh crore. The IPO is set to become India's most sought after large (over $1 billion or about Rs 8,500 crore) listing in at least four years on heavy bidding from foreign and domestic investors. Before the IPO opened on Wednesday, the NBFC had raised Rs 3,369 crore from a clutch of large institutional investors. The HDB Financial's offer is the largest by any NBFC in India. The day also saw another IPO close successfully. The Rs 540-crore offer for Sambhv Steel closed with a 28.5 times subscription, generating a demand worth nearly Rs 11,000 crore. The week saw five main board IPOs close successfully with the total demand for shares at over Rs 1.8 lakh crore against an offer size of about Rs 15,000 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
a day ago
- Business
- Business Standard
HDB Financial Services IPO subscribed 16.69 times
The offer received bids for 217.68 crore shares as against 13.04 crore shares on offer. The initial public offer of HDB Financial Services received bids for 2,17,68,60,980 shares as against 13,04,42,855 shares on offer, according to stock exchange data at 17:30 IST on Friday (27 June 2025). The issue was subscribed 16.69 times. The issue opened for bidding on 25 June 2025 and it will close on 27 June 2025. The price band of the IPO is fixed between Rs 700 and 740 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof. The initial public offer (IPO) consists of fresh issue to raise Rs 2,500 crore through issuance of 3.57 crore equity shares. The issue also consists of Offer for Sale (OFS) of Rs 10,000 crore through issuance of 13.51-14.29 crore equity shares from the promoter HDFC Bank. The promoter shareholding in the company would decline to 74.2% post- IPO from 94.04% pre-IPO. The company proposes to utilize the net proceeds from the fresh issue towards augmenting the capital base to meet future capital requirements. HDB Financial Services incorporated in 2007 is the seventh largest leading, diversified retail-focused non-banking financial company (NBFC) in India in terms of the size of gross loan book at Rs 90,220 crore at end March 2024. It is categorized as an Upper Layer NBFC (NBFC-UL) by the RBI. HDFC Bank held a 94.04% stake in the company. The company is a subsidiary of HDFC Bank, which is the largest private sector bank in India with businesses (including those of its subsidiaries) spanning across retail and commercial banking, asset management, life insurance, general insurance and broking. The omni-channel phygital distribution model combines a large branch network, in-house tele-calling teams and various external distribution networks and channel partners. The loan book is well seasoned as it has weathered multiple credit cycles in India since inception. GNPA ratio was healthy at 2.26% and NNPA at 0.99% at end March 2025. The company is focused on highly conservative policies for provisioning, with 55.95% of Provisioning Coverage Ratio at end March 2025, the third highest amongst the peers and a 3.31% provisioning on loan book at end March 2025. It has a pan-India network of 1,771 branches in 1,170 towns and cities across 31 States and Union Territories. The distribution network is complemented by external distribution channel partnerships with over 80 brands and original equipment manufacturers (OEMs) and external distribution networks with over 140,000 retailers and dealer touchpoints at end March 2025. Ahead of the IPO, HDB Financial Services on Tuesday, 24 June 2025, raised Rs 3,369 crore by issuing 4.55 crore equity shares to anchor investors at Rs 740 each. The firm reported a standalone net profit of Rs 2,115.81 crore and total income of Rs 13,835.79 crore for the nine months ended on 31 December 2024.
Mint
a day ago
- Business
- Mint
IPO Update: Credila Financial Services files UDRHP-I with SEBI to raise ₹5,000 crores via IPO
IPO Update: Credila Financial Services Ltd has filed its Updated Draft Red Herring Prospectus (UDRHP-I) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO). Credila Financial Services ranks as the second quickest expanding education-focused non-banking financial company (NBFC) in India concerning the annual growth of Net Loans, registering a year-on-year increase of 47.67% from the Financial Years 2024 to 2025, as reported by an industry analysis. As of March 31, 2025, the company holds the title of the largest education-oriented NBFC in India, boasting Net Loans totaling ₹ 41,469 crores; a restated net profit after tax of ₹ 990 crores for the Financial Year 2025; and record disbursements amounting to ₹ 14,089 crores for the Financial Year 2024. The company stands out as the fastest growing education-focused NBFC in India, achieving a Compound Annual Growth Rate (CAGR) of 64.96% in Net Loans between the Financial Years 2023 and 2025, alongside a year-on-year increase of 84.26% in assets under management (AUM) from March 31, 2023, to March 31, 2024. The company intends to raise capital through an initial public offering. The total size of the issue amounts to ₹ 5,000 crores, which includes a fresh equity share issue worth up to ₹ 3,000 crores and an offer for sale of equity shares totaling ₹ 2,000 crores, each with a face value of ₹ 10. The offer for sale of equity shares totaling ₹ 2,000 crores (with a face value of ₹ 10 each) includes up to ₹ 950 crores from Kopvoorn B.V. (Promoter Selling Shareholder) and up to ₹ 1,050 crores from HDFC Bank Ltd (Other Selling Shareholder). The Book Running Lead Managers for the issue are Axis Capital Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Capital Services Limited (previously known as IIFL Securities Limited), and Jefferies India Private Limited.
Time of India
a day ago
- Business
- Time of India
Credila Financial Services files draft papers for Rs 5,000 crore IPO with Sebi
Credila Financial Services , an education finance company, has filed a UDRHP-I with SEBI to raise Rs 5,000 crore through an IPO. The company specializes in education loans for students pursuing higher studies in India and abroad. The total issue size aggregating up to Rs 5,000 crore comprises a fresh issue of equity shares aggregating up to Rs 3,000 crore and an offer for sale of equity shares aggregating up to Rs 2,000 crore of face value of Rs 10 per equity share. Also Read | JioBlackRock Broking receives SEBI approval to commence brokerage business The offer for sale of equity shares aggregating up to Rs 2,000 crore (face value of Rs 10 each) comprises up to Rs 950 crore by Kopvoorn B.V. ('Promoter Selling Shareholder') and up to Rs 1,050 crore by HDFC Bank Limited ('Other Selling Shareholder'). Live Events A pre-IPO placement of the specified securities may be undertaken by the company, in consultation with the BRLMs, prior to the filing of the Red Herring Prospectus with the ROC for an aggregate amount not exceeding Rs 600 crore ('Pre-IPO Placement'). The Pre-IPO Placement, if undertaken, will be at a price to be decided by the company in consultation with the BRLMs. If the Pre-IPO Placement is undertaken, the amount raised from the Pre-IPO Placement will be reduced from the fresh issue, subject to the offer complying with rule 19(2)(B) of the Securities Contracts (Regulation) rules, 1957, as amended ('SCRR'). The Pre-IPO Placement, if undertaken, shall not exceed 20% of the fresh issue. Axis Capital Limited , Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Capital Services Limited ( formerly known as IIFL Securities Limited ) and Jefferies India Private Limited are the Book Running Lead Managers to the issue. The Company proposes to utilise the net proceeds towards augmenting the capital base to meet the Company's future capital requirements arising out of the growth of its business and assets. Credila Financial Services Limited is the second fastest growing education-focused NBFC in India in terms of year-on-year growth of Net Loans, with a year-on-year growth of 47.67% between the Financial Years 2024 and 2025. Also Read | Wakefit Innovations files DRHP with SEBI, plans to raise Rs 468 crore via fresh issue The company is the largest education-focused non-banking financial company in India (which peer set comprises three companies, including Credila), with Net Loans of Rs 41,469 crore as of March 31, 2025; restated net profit after tax of Rs 990 crore for the Financial Year 2025; and the highest disbursements of Rs 14,089 crore for the Financial Year 2024 (assessment performed for Financial Year 2024 given unavailability of peer data for Financial Year 2025). The company is the fastest growing education-focused NBFC in India (comprising three companies, including including Credila) with a CAGR of 64.96% in Net Loans between the Financial Years 2023 and 2025 and a year-on-year growth of 84.26% in assets under management between March 31, 2023 and March 31, 2024 (assessment performed for Financial Year 2024 given unavailability of peer data for Financial Year 2025).
