Sector: NBFCs
Bajaj Auto applies for new NBFC
Bajaj Auto (BAL) has sought RBI approval for setting up a new NBFC. The application is currently under consideration by the regulator. The proposed NBFC is for captive financing of Company’s two wheelers and three wheelers. Currently more than 40% of BAL’s vehicles get financed by Bajaj Finance (BFL, the group company), which in turn … Read more
Final leg of IDFC restructuring announced
Background about the restructuring IDFC was granted in-principle approval by RBI to set up a bank in April 2014, leading to the creation of IDFC Bank Limited and IDFC Financial Holding Company Limited (IDFC FHCL). IDFC FHCL is the non operative holding company and in compliance with the RBI regulations, was mandated to hold the … Read more
Goldman Sachs Considers To Exit Partnership With Apple
Goldman Sachs Group Inc. (GS) is considering exiting its partnership with Apple Inc. (AAPL), the Wall Street Journal reported, citing sources familiar with the matter. The report stated that the bank is in talks with American Express Co. (AXP) to take over its Apple credit card and other services with Apple Inc. The iPhone-maker and … Read more
ISec proposes to delist the shares
In a surprise announcement ICICI Securities (ISec) has proposed to delist the shares. ISec was listed 5 yrs back in March 2018, when like any other IPO it was being termed as value unlocking exercise by the ICICI Bank (IBank) Post IPO, IBank’s shareholding had reduced to 79.22% which further reduced to 74.85% currently. Of … Read more
Piramal exiting out of Shriram Finance
After TPG selling it’s entire 2.65% stake in Shriam Finance (SF), now Piramal Enterprises is selling it’s entire 8.34% stake in the Company. Stake is being offered through block deals to the institutional investors Realisation from stake sale is estimated at Rs 4,832 cr and the floor price for the sale is fixed at Rs … Read more
HDFC divests 90% of Credila
HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more