Shriram Housing finance (SHF) is a 85% subsidiary of Shriram City Union Finance (SCUF). SHF’s MD & CEO, Ravi Subramanian has informed the following – They are looking to grow both organically and inorganically Organically, the Company clocked a 54% year-on-year loan asset growth to Rs 6,546 crore at the end of September 2022 and … Read more
As the mandatory lockin period of 1 yr is ending, Softbank has decided to offload 4.5% stake of Paytm through block deal. Prior to this sell, Softbank was the second largest shareholder (after Alibaba group) with 17.5% stake in Paytm. It’s second largest position will continue with 13% balance stake. Softbank has offered to sell … Read more
Alongside Q2 FY 23 results, Reliance Industries Limited (RIL) has announced demerger and listing of a subsidiary, Reliance Strategic Investments Limited (RSIL) to focus on the financial services segment. RSIL is currently a wholly-owned subsidiary of RIL and is a RBI-registered non-Deposit taking Systemically Important (ND-SI) Non-Banking Financial Company (NBFC). RIL will demerge it’s financial … Read more
Girish Kousgi after spending about 3 years at the Company has put in his papers. Reason for resignation is mentioned to be personal. Investors didn’t like the announcement and the share has corrected by about 15% since announcement in an otherwise strong market. Personally, I am not much surprised with his decision to quit. During … Read more
The pressure on asset quality of loans to micro small and medium enterprises (MSMEs) is set to increase, leading to a rise in non-performing assets (NPAs) in this segment in the next six months, according to a survey by the Federation of Indian Chambers of Commerce & Industry and the Indian Banks’ Association. Some of … Read more
Indostar has finally submitted it’s quarter and year ended March 31, 2022 results. (It’s pertinent to remind here that currently the Company has been going through a self initiated independent review wrt to the credit process/ operational lapses.) As is typical in such scenarios, everyone wants to play safe and auditor of the Company (Deloitte … Read more
Macquarie Group, one of the largest foreign infrastructure investors in India, is in talks with commercial investors to raise $205 million to set up an electric vehicle (EV) leasing and finance company, said two people aware of the development. The India-focused e-mobility financing platform will be managed by Macquarie Asset Management, which has assets of … Read more
IIFL Home Finance (IHFL) is raising Rs 2,200 crore from Abu Dhabi Investment Authority (ADIA) for 20% stake. Key points to note –Â IHFL is currently a 100% ‘unlisted’ subsidiary of IIFL Finance Limited (IFL) It is in the business of small-ticket (affordable) home loans, loan against property and construction finance. The subject fund raise … Read more