Page 7 - Nbfc

Reserve Bank of India tightens HFC norms to bring them on a par with NBFCs

The RBI stated that the norms have been revised to harmonise the guidelines for NBFCs and housing finance companies

Hero FinCorp files papers with Sebi to raise Rs 3,668 crore via IPO

Hero FinCorp, the financial services division of two-wheeler manufacturer, Hero MotoCorp, has filed preliminary papers with capital markets regulator Sebi to raise Rs 3,668 crore through an Initial Public Offering (IPO). The proposed IPO is a combination of a fresh issue of equity shares worth Rs 2,100 crore and an Offer For Sale (OFS) of Rs 1,568 crore by investor shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Wednesday. Those selling shares in the OFS are -- AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (through Vikas Srivastava) and Otter Ltd. Proceeds from the fresh issue will be used to increase the company's capital to meet future funding needs for lending activities. Hero FinCorp is a NBFC offering a diversified suite of financial products catered primarily to the retail, micro, small and medium enterprise (MSME) customer segments in India. As of March 2024, the NBFC firm had assets under ...

Piramal Finance eyes overseas bond market for funding diversification

The diversified non-banking finance company (NBFC) aims to increase its borrowing from international sources to 10 to 12 per cent over the next 2-3 years, up from the current 4 per cent

Group representing NBFCs seeks approval to offer credit through UPI

Industry should be 'permitted to carry out certain activities restricted to banks', says FIDC

NBFCs' consumer, gold loan sanctions shrink QoQ in Q4 FY24 after RBI action

Regulator last year hiked risk weights for unsecured loans and put curbs on IIFL Finance, a large player in gold loan business

Nine NBFCs including Fino Finance surrender certificate of registration

Ujjivan Financial Services Ltd surrendered the CoR as it ceased to be a legal entity due to amalgamation

Finance world's question to self: Are there too many regulators within?

From fintech to urban cooperatives, a host of industry associations have expressed interest in becoming self-regulatory organisations

No change in strategy: Paytm denies reports of opting out of licences

Payment gateway and digital wallet service provider Paytm has decided to not re-apply for an NBFC licence and stop experiments in Payment Aggregator Cross-Border (PA-CB)

NIIF-backed Aseem Infra Finance to raise Rs 1,000 crore in equity in FY25

At present, NIIF holds a 59% stake, followed by 31% held by the Government of India, and SMBC holds the remaining 10% stake

Bank-NBFC interconnectedness poses systemic risks: RBI ED Lakshmi Kanth Rao

"Sector needs strong regulatory standards to ensure no gaps"

Sebi orders Religare Enterprises to apply for open offer before July 12

The Burman group acquired an additional 5.7% stake in REL in September last year triggering the open offer requirement as their stake surpassed the 26% threshold

Self-regulatory organisations for NBFCs: RBI invites application

Central bank to recognise a maximum of 2 SROs for the sector

SMFG invests Rs 1,300 crore in its Indian unit to fuel NBFC growth

First fresh direct equity investment after 100% acquisition

Japan's Sumitomo Mitsui Financial invests Rs 1,300 cr in SMFG India Credit

SMICC has separately invested Rs 150 cr in a subsidiary to expand its affordable housing finance solutions

Securitisation market booms as shadow banks diversify funding sources

Sector is expected to grow further as credit demand grows, say senior executives

Aadhar Housing Finance sets IPO price band of Rs 300 to Rs 315 per share

Aadhar HFC provides a variety of mortgage loan products for residential and commercial property purchase and construction, home improvement and extension

REC logs highest annual profit of Rs 14K crore on lower stressed assets

The company's loan book has grown by 17 per cent to Rs 5.09 trillion as against Rs 4.35 trillion as on March 2023, which is also the highest ever

MCA clears appointment of Hitesh Kumar Sethia as Jio Financial MD for 3 yrs

Jio Financial Services on Monday said the Ministry of Corporate Affairs has accorded its approval for the appointment of Hitesh Kumar Sethia as managing director and chief executive officer of the company. The appointment effective from November 15, 2023, is valid for three years, Jio Financial Services said in a regulatory filing. The approval letter was received by the company on April 24, 2024, it said.

Poonawalla Fincorp Q4 results: Net profit rises 67% to Rs 332 crore

FY24 PAT up 146 per cent year-on-year to Rs 1,683 crore; AUM crosses Rs 25,000 crore

RBI cancels Acemoney (India's) NBFC licence citing violation of guidelines

The development follows a series of actions on other players in the industry on account of non-compliance