Godrej Capital (GCL), the financial subsidiary of Godrej Industries (GIL) was started in 2020. Since then it has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). The business is ramping up nicely and GIL has now shared the following … Read more
Fintech NBFCs may need to revisit their business model and temper loan disbursements in light of tighter funding and a regulatory warning on growth strategies, India Ratings (Ind-Ra) has cautioned. They need to be watchful in growing their unsecured consumer lending exposure in FY25 in the backdrop of an increase in funding costs, along with … Read more
The Tata group’s unlisted financial services businesses have reported hefty profits for the year, with Tata Capital, the group’s financial services business, reporting a profit of Rs 2,492 crore on revenues of Rs 13,309 crore, as per Tata Sons’ annual report for the financial year ended March 2024. The two insurance joint ventures, Tata AIA … Read more
SMFG India Credit Company Ltd is looking at a capital infusion of up to Rs 2,000 crore from its parent—Japanese financial services group SMFG—till 2026 to support future growth in India. The business plans factor in possible inclusion in the upper layer list of finance companies, requiring the listing of equity shares on bourses. Its … Read more
Bajaj Housing Finance (BHFL) was set up in 2017 as a 100% subsidiary of Bajaj Finance (BFL). BHFL’s IPO is coming on September 9, 2024 with a price band of Rs 66-70/ share Issue size is Rs 6,560 cr Rs 3,560 cr fresh capital Rs 3,000 cr offer for sale BFL is diluting 10-11% through … Read more
The Reserve Bank of India (RBI) may grant non-banking financial companies (NBFCs) access to the public tech platform for frictionless credit (PTPFC). Earlier this week, RBI Governor Shaktikanta Das announced that the PTPFC would be rebranded as the Unified Lending Interface. He compared its potential impact on lending to the transformation brought by the Unified … Read more
The two subsidiaries are – ECL Finance Limited (EFL) – it is being directed to cease and desist, with immediate effect, from undertaking any structured transactions in respect of its wholesale exposures, other than repayment and/ or closure of accounts in its normal course of business. Edelweiss Asset Reconstruction Company Limited (EARCL) – it is … Read more
Westbridge sold off 4.96% stake reducing it’s stake to 29.5% in the Company JIH II LLC sold it’s entire 2.03% stake Shares were sold at around Rs 294/ share Total promoters’ stake now stand reduced to 54.1% from 61.1% earlier Buyers included SBI MF and Luxembourg-based Eastbridge Group amongst others. Whether it’s a cause of … Read more
Piramal Enterprises (PEL ) has approved it’s merger with wholly owned subsidiary Piramal Capital & Housing Finance (PCHFL). Post merger the the resultant entity will be renamed as Piramal Finance (PFL). Current businesses of PEL and PCHFL PEL is a non-deposit taking Non-Banking Finance Company – Investment and Credit Company (NBFC- ICC), engaged in the … Read more