Malick Diop felt something shifting on Wall Street. He’d joined Morgan Stanley in the grim days of 2009, when big banks were trying to pay back taxpayer bailouts and deflect public fury. But four years later, the ire was fading and ambition was the order of the day. “It really felt like, for the first … Read more
Poonawalla Fincorp (PFL) is selling 100% of it’s housing subsidiary Poonawalla Housing Finance Limited (PHFL) to TPG. Consideration is Rs 3,900 cr PHFL reported financials for FY 22 Revenues of Rs 470 cr Net Worth at Rs 1082 crore Above implies a valuation of 8.3x on trailing revenues and 3.6x on Net Worth. (This is … Read more
Shriram Finance (SFL) is the consolidated NBFC arm of the Shriram group. It is formed through the merger of Shriram Transport Finance (STFC), Shriram City Union Finance (SCUF) and Shriram Capital (SC). The management has shared the following key pointers on the way ahead – In next 3 years, Vehicle loans will reduce from 77% … Read more
SBI Cards has informed that, it’s Chief Risk Officer (CRO) Ms Aparna Kuppuswamy has resigned from the services of the Company. Reason for resignation – has not been informed. Last date at the Company – February 10, 2023 Any reason for being concerned? CRO is an important position in an NBFC. However, given the overall … Read more
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