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Mint

Manba Finance IPO: Check date, price band, GMP and other key details

Manba Finance began its operations as a Non-Banking Financial Company (NBFC) in Mumbai, Maharashtra, in 1998. Since 2009, it has significantly expanded by increasing its number of branches and locations across various states.

The Economic Times

Here's why Aniruddha Naha is bullish on NBFC sector

​There is absolutely no two ways about it. I think incrementally also the kind of spends that we are seeing or the allocations going towards, let us say, defence, railways, and other capex-oriented cycles, the renewable part of it, I think this will continue.

Business Line

REC signs MoUs for ₹1.12 lakh crore renewal energy projects

State-run NBFC inks MoUs at renewable energy investors’ meet

The Economic Times

Bet on these 5 NBFCs as highly-anticipated rate cuts promise windfall for investors

With interest rate cuts expected this year, non-banking financial companies (NBFCs) are set to benefit significantly. Analysts highlight the potential for growth in NBFC assets under management, especially in consumer finance and gold-based lending. Stocks like Bajaj Finance, M&M Financial Services, and Shriram Finance are recommended for investment due to their strong asset quality and favorable loan compositions.

Business Standard

Tata Sons rules out IPO plans despite push from shareholder SP group

Holding co prepays Rs 21,813 crore debt in FY 2024 to declassify itself as NBFC upper layer

Business Standard

ICRA ESG Ratings gives its first rating to InCred Financial Services

ICRA ESG Ratings Limited has assigned its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services, a non-banking financial company. ICRA ESG received registration as a Category-I ESG Rating Provider (ERP) from the Securities and Exchange Board of India (SEBI) earlier this fiscal. ICRA ESG was formerly known as Pragati Development Consulting Services Limited (PDCSL). "InCred Financial Services Limited, a Non-Banking Financial Company (NBFC) focused on personal loans, student loans, and business loans, has been assigned a rating of [ICRA ESG] Impact 57, Moderate," said ICRA ESG Ratings Limited (ICRA ESG), a wholly-owned subsidiary of ICRA, in a release. It further said the ICRA ESG-assigned ratings help investors assess the non-financial risks and opportunities associated with entities and facilitate making better investment decisions, paving the way for a more sustainable and responsible investment landscape. These ratings also help the rated entity gai

The Economic Times

Axis Mutual Fund launches CRISIL-IBX AAA NBFC Index – June 2027 Fund

Axis Mutual Fund has introduced the Axis CRISIL-IBX AAA NBFC Index – June 2027 Fund, an open-ended Target Maturity Index Fund. This fund invests in the constituents of the CRISIL-IBX AAA NBFC Index – June 2027, offering moderate interest rate risk and relatively low credit risk. The fund is set to mature on June 30, 2027. The new fund offer is currently open for subscription and will close on September 23

Mint

Northern Arc Capital IPO: NBFC mobilises ₹229 crore from anchor investors ahead of subscription

Northern Arc Capital IPO: The NBFC raised ₹299 crore in anchor round. The three-day subscription window opens from September 16.

Business Standard

Moneyboxx Finance raises Rs 176 cr via allotment of equity shares, warrants

Moneyboxx Finance, a NBFC providing business loans to micro entrepreneurs, on Friday said it raised Rs 176 crore to support growth plans. In a filing to BSE, the company announced the allotment of equity shares and warrants convertible to equity amounting to Rs 176 crore. The capital raise includes Rs 63 crore via preferential equity issue and Rs 113 crore via equity warrants from both promoters and non-promoters. "The company has received Rs 91 crore, which includes Rs 63 crore from preferential equity issue and Rs 28 crore from warrants, and the balance Rs 85 crore pursuant to warrants is receivable within 18 months," Moneyboxx Finance said. The net worth of the company stood at Rs 174 crore as on June 30, 2024, which has increased by over 50 per cent by August 31, 2024 and will double with the total equity raise of Rs 176 crore, it said. Over two-thirds of the fund raise has come from promoters and existing shareholders, demonstrating their confidence in the business model and

The Economic Times

Mahindra & Mahindra Financial to expand mortgage business

Mahindra & Mahindra Financial Services plans to expand its mortgage loan business, offering housing finance, top-up loans, and home improvement loans. The Mumbai-based NBFC will also join the government's affordable housing schemes. The company aims to invest 200-300 million rupees over the next year for this expansion.

The Economic Times

Positive play! Long ignored by market, Bajaj Housing Finance IPO could trigger a rerating for NBFCs

Bajaj Housing Finance's successful IPO is expected to have a positive spillover effect on the overall NBFC sector. Anticipated interest rate cuts and attractive valuations have made NBFCs a more compelling investment option. The strong market response to Bajaj Housing Finance's IPO highlights the sector's potential.

Mint

Srestha Finvest stock split: NBFC declares record date for stock subdivision. Details here

Srestha Finvest on Wednesday, September 11, announced the stock-split record date as Monday, September 23.

Business Standard

CCI clears proposed merger of Tata Motors Finance into Tata Capital

The Competition Commission of India (CCI) on Tuesday cleared the proposed merger of Tata Motors Finance Ltd into Tata Capital Ltd. Tata Capital Ltd (TCL) is a subsidiary of Tata Sons and is operating as a non-banking financial company Investment and Credit Company (NBFC-ICC). TCL is engaged primarily in the business of lending, leasing, factoring, financing and distributing financial products. "CCI approves the proposed merger of Tata Motors Finance Ltd with and into Tata Capital Ltd," the regulator said in a post on X. Tata Motors Finance Ltd (TMFL) operates as an NBFC-ICC and is engaged in the business of granting loans and facilities for financing the purchase of new vehicles manufactured by Tata Motors and its group companies. TMFL also refinances existing vehicle finance loans. It is a step-down wholly-owned subsidiary of Tata Motors Ltd. In June this year, Tata Motors, TCL and TMFL's board approved a merger of TMFL with TCL through an NCLT scheme of arrangement. As ...

Business Standard

Jio Financial, BlackRock Advisors enter JV for investment advisory services

Jio Financial Services on Sunday said it has formed a joint venture with BlackRock Advisors Singapore Pte Ltd to undertake investment advisory business. Jio BlackRock Investment Advisers Private Limited was incorporated on September 6 to carry on the primary business of investment advisory services, subject to regulatory approvals, Jio Financial Services said in a filing. The company will invest Rs 3 crore towards an initial subscription of 30,00,000 equity shares of face value Rs 10 each, it said. The Certificate of Incorporation was received from the Ministry of Corporate Affairs on September 7, 2024, it added. Jio Financial Services Ltd, the demerged financial services arm of billionaire Mukesh Ambani's Reliance, had earlier announced a joint venture for asset management and wealth management with BlackRock. Last month, Jio Finance Ltd, an NBFC arm of Jio Financial Services, said it is in the advanced stages of launching home loans, which have been rolled out in beta mode. Bes

Mint

What ‘growth phobic’ Sundaram Finance can learn from Eliud Kipchoge

Those who run marathons know the importance of 1:59:40. Kipchoge, arguably the greatest marathoner of all time, ran 42.1km in less than two hours, in October 2019. Now, what does this have to do with Chennai-based NBFC Sundaram Finance? Read on.

Business Standard

Shriram Finance plans to raise $1 bn from overseas in next 6 months

NBFC Shriram Finance plans to raise USD 1 billion (about Rs 8,300 crore) from overseas in the next 6 months to fund its business growth. "We are planning to raise USD 300 million in the next few weeks, may be by October and rest USD 500-700 million during the remaining part of the current financial year," Shriram Finance Managing Director and CEO Y S Chakravarti told PTI. The fund raise would also include loans from development financial institutions like Asian Development Bank, Kfw, and United States Development Finance Corporation (DFC). The timing would depend on market conditions, he added. To fund its business growth, the Non-Banking Financial Company (NBFC) raises resources from diversified sources like public deposits, bank finance and raising money from domestic markets. On the loan growth, Chakravarti said, it is expected to increase 15 to 16 per cent during the current financial year. The company's Assets Under Management (AUM) stood at Rs 2.33 lakh crore at the end of J

Mint

Bajaj Housing Finance IPO: NBFC mobilises ₹1,758 crore from anchor investors ahead of subscription

Bajaj Housing Finance IPO: The NBFC raised ₹1,758 crore in anchor round. The three-day subscription window opens from September 9.

Mint

Bajaj Housing Finance IPO: GMP jumps after announcement of subscription date. Shareholder quota, date, other details

Bajaj Housing Finance IPO GMP: According to market observers, shares of the NBFC are available at a premium of ₹61 in the grey market today

The Economic Times

Manulife continues to focus on 5 Ds; likes telecom, realty-linked and NBFC stocks: Rana Gupta

Rana Gupta of Manulife Investment Management foresees a gradual economic recovery, with telecom and real estate-linked consumption sectors appearing promising. He emphasizes the influence of domestic flows and delineates investment themes including digitisation, deglobalisation, decarbonisation, demography, and deficit reduction, noting the improved fiscal condition and potential return of FII flows.

The Economic Times

Microfinance institutions face debt funding squeeze

The pure-play microfinance lenders categorized as NBFC-MFIs saw nearly 12% less debt funding in the first quarter, according to MFIN data. Lower disbursements and external factors have worsened portfolio quality, while the total assets under management grew 23% year-on-year, but dipped slightly compared to the previous quarter.

Business Standard

Alphabet-backed NBFC Aye Finance to launch Rs 2k cr IPO in a year: Report

Focused on small and medium enterprises, Aye Finance has roped in four arrangers for its upcoming IPO

Business Standard

NBFC depositors can prematurely withdraw entire amount within 3 months: RBI

The Reserve Bank on Monday said non-banking financial companies (NBFCs) will pay 100 per cent of deposit amount within the first three months of accepting the fund, if the depositor seeks an withdrawal citing an emergency. In its review of regulations governing NBFCs, the central bank said no interest will be paid for such premature withdrawals and added that these changes will be in force from January 1, 2025. The definition of "critical illness" set by insurance regulator Irdai will guide on whether a request qualifies under the category, the central bank said. "...in cases of critical illness, hundred per cent of the amount of the principal sum of deposit may be prematurely paid to individual depositors at the request of the depositors, before the expiry of three months from the date of acceptance of such deposits, without interest," the central bank said. It specified expenses of an emergent nature include a medical emergency or expenses due to natural calamities or a disaster

The Economic Times

Declining bank deposits raise concerns about NBFC's fund raising capacity: Report

CareEdge Ratings has raised concerns about the credit-deposit ratios of Non-Banking Financial Companies (NBFCs) due to declining deposits. The rating agency suggests that these ratios could affect NBFCs' ability to secure funds. The report also highlights the need for increased regulatory supervision, which could lead to higher compliance costs. The State Bank of India (SBI) reported that credit growth in Indian banks is outpacing deposit growth, despite increased investments in mutual funds and equities.

Business Standard

Ireda Q1FY25 results: Net profit surges over 30% to Rs 383.69 crore

Indian Renewable Energy Development Agency (Ireda) on Friday reported over 30 per cent growth in its net profit to Rs 383.69 crore for the June quarter, mainly on the back of higher revenues. "IREDA has achieved Profit After Tax of Rs 383.69 crore (in Q1), marking an impressive year-on-year growth of 30.25 per cent," a company statement said. According to the statement, its net profit was Rs 294.58 crore in the quarter ended on June 30, 2023. As the largest pure-play green financing NBFC in the country, it stated that Ireda achieved a new industry standard by publishing its audited financial results within only 12 days. This milestone also marks Ireda as the first central public sector enterprise (CPSE) to promptly declare results and achieve the fastest publication of audited results in the banking and NBFC space, it added. The company has successfully reduced its net non-performing assets to 0.95 per cent in the first quarter of FY 2024-25 from 1.61 per cent in the same quarter

Business Line

IREDA’s net profit up 30% in Q1 FY25

State-run NBFC reports 32% rise in revenue, and reduced NPA in Q1 FY25

The Economic Times

Jio Financial Services gets RBI nod to become core investment company

The Reserve Bank of India on Thursday evening approved Jio Financial's conversion from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC), the company said in a filing.

The Economic Times

RBI deputy guv flags concerns over quality of disclosures by some NBFCs

RBI Deputy Governor M Rajeshwar Rao, at the Conference of Statutory Auditors and CFOs of Commercial Banks, urged better NBFC disclosures, emphasizing SICR and ECL reporting. Principle-based regulations should reflect economic reality for REs. He highlighted the auditor's role in fostering depositor trust and achieving financial stability through transparent financial statements and robust audit practices.

The Economic Times

Indiabulls Housing Finance rebrands itself, name changed to Sammaan Capital

Indiabulls Housing Finance has rebranded itself as Sammaan Capital after receiving the necessary approvals from regulatory authorities. This includes the Certificate of Incorporation from the Registrar of Companies and the Certificate of Registration as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India.

The Economic Times

Ontario Teachers’ buys into NBFC Kogta

Ontario Teachers' Pension Plan Board acquired a significant minority stake in Jaipur-based NBFC Kogta Financial for Rs 1,230 crore ($148 million). The funds will drive growth, expand regional presence, and allow partial exits for existing investors Morgan Stanley and Creador. Kogta, specializing in vehicle finance and MSME loans, operates in 10 states with 225 branches and 5,000 employees.

Business Standard

Warburg-backed Avanse Financial Services files for Rs 3,500-cr IPO

Avanse is the first education-focused NBFC looking to go public