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The Economic Times

IIFL Home Finance likely to hit retail bond market in Q3 after three years

IIFL Home Finance plans its first retail fundraise in three years to diversify its liabilities. Filing a draft prospectus to raise up to Rs 3,000 crore, it aims for an initial fundraise of Rs 300-500 crore this quarter. The strategy follows RBI's move to limit NBFCs' bank borrowing, impacting their usual funding sources.

Mint

CRISIL removes IIFL Finance from ‘Rating Watch’, reaffirms long-term rating as RBI lifts embargo on gold loan business

India's major non-banking financial company (NBFC), IIFL Finance, has received a positive development from credit rating agency CRISIL.

Mint

IIFL Home Finance to raise nearly ₹3,000 crore through bond issue: Report

IIFL Home Finance plans to raise nearly ₹3,000 crore through a public issue of bonds, Reuters reported, quoting a draft prospectus filed by the company.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Lakshmi Finance, Jay Shree Tea, DCW Ltd, Zee Media Corp and IIFL Securities, hit their fresh 52-week highs during the day.

The Economic Times

IIFL Home Finance to raise up to Rs 3,000 crore via public issue

India's IIFL Home Finance plans to raise up to 30 billion rupees ($358 million) through a public issue of bonds, according to a draft shelf prospectus filed by the company on Tuesday.

Business Standard

IIFL Finance and its subsidiaries receive ratings action from CRISIL

Further, CRISIL has also reaffirmed it's ratings and has assigned the outlook as Stable for Bank Loan Facilities, Non- Convertible Debentures and reaffirmed A1+ for Commercial Papers of IIFL Finance, HFC and Samasta.

Business Standard

IIFL Securities zooms 73% in 2 mths, hits new high on strong earnings hope

IIFL Securities' stock hit a new high of Rs 372, after having skyrocketed 203 per cent so far in financial year 2024-25.

CNBC TV18

Angel One, 5Paisa, IIFL Securities shares to be in focus today — Here's why

While, NSE came out with new transaction charges for cash and derivatives segments, BSE announced changes for Sensex and Bankex options contracts of the equity derivatives segment.

Business Line

Bullish momentum to continue for benchmarks Sensex, Nifty

Nifty 200 index is interestingly poised after 11 months of gains, says IIFL

CNBC TV18

IIFL Finance gets an upgrade but analyst says most positives priced in

HSBC said the IIFL Finance stock has already risen about 65-70% since its lows in March 2024, suggesting that current valuations already reflect many positive factors.

The Economic Times

UBS sells shares worth Rs 480 crore in Concord Biotech, IIFL Securities, 2 more stocks via block deals

UBS sold holdings in Concord Biotech, Five Star Business Finance, IIFL Securities, and Marksans Pharma through block deals, totaling Rs 480 crore. The largest sale was in Concord Biotech, worth Rs 192 crore at a 15% premium.

Business Standard

CARE Ratings downgrades IIFL Finance's long-term instruments to "AA-"

The rating agency, in a statement placed on its website, said the assets under management (AUM) of IFL's gold business shrunk to Rs 14,727 crore as of June 30, 2024

The Economic Times

AK Purwar on how IIFL Finance navigated challenges of RBI Ban and planned for recovery

​It is sometimes very disturbing. So, I used to feel very disturbed. But as a banker, if you ask me, I mean, my qualification is as a banker. So, as a banker, I used to feel very happy inside that we have very extremely professional regulator who would not let go a thing unless and until they have more than 200% satisfied themselves on whether the rectifications have been properly carried out, number one. Number two, whether those rectifications will sustain over a long period of time. And number three, that the organisation has learned its lessons.

Mint

IIFL Finance is back in the game, but clawing back market share to be slow

Incremental growth for IIFL Finance will be less aggressive and in line with most peers, as the company is obliged to follow best practices and norms to avoid any future problems from the regulator, analysts said

CNBC TV18

IIFL Finance shares jump 13% after RBI relief on gold loan business — what lies ahead

Jefferies has upgraded IIFL Finance to 'Buy', saying that an improvement in earnings visibility will support the company's better multiples.

The Economic Times

Buy IIFL Finance, target price Rs 600: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on IIFL Finance with a target price of Rs 600. The current market price of IIFL Finance is Rs 535.9.

The Economic Times

RBI lifts ban on IIFL

The Reserve Bank of India has lifted restrictions on IIFL Finance's gold loan business, allowing the company to resume operations. The ban was initially imposed due to supervisory concerns, including deviations in gold purity assessment and breaches in loan-to-value ratio. The lifting of the ban is expected to help recover the company's gold loan book and improve profitability.

Business Standard

RBI lifts restrictions imposed on IIFL Finance's gold loan business

On March 4, 2024, the RBI imposed restrictions on IIFL Finance after observing deviations in assaying and certifying purity and net weight of gold at time of sanctioning loans and at time of auction

The Economic Times

RBI lifts restrictions on IIFL Finance's gold loan business

The Reserve Bank of India has lifted restrictions on IIFL Finance's gold loan operations, effective immediately. This decision ends a hiatus that began on March 4, 2024. IIFL Finance is now allowed to resume its gold loan activities while adhering to all relevant laws and regulations, ensuring high standards of compliance and customer service.

CNBC TV18

RBI lifts six-month ban on IIFL Finance’s gold loan operations

The ban earlier this year was a response to certain compliance issues flagged by the RBI, aimed at ensuring that IIFL Finance aligned with regulatory standards.

Mint

RBI removes restrictions on IIFL Finance’s gold loan operations

‘The Company is committed to upholding the highest standards of compliance and will continue to ensure that the remedial actions taken are sustained,’ added IIFL Finance.

Business Standard

Shadow lender IIFL Finance faces rating downgrade risk on gold loan ban

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

Business Standard

Shadow lender IIFL Finance faces rating downgrade risk on gold loan ban

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

Mint

‘Markets have priced in most of the good news’

Low crude oil prices would favour oil marketing companies while rate cuts could support non-banking financial companies, said R. Venkataraman, chairman of IIFL Securities.

Business Standard

Northern Arc Capital's Rs 777 cr IPO to open on Mon, price band Rs 249-263

Non-bank financial institution Northern Arc Capital on Wednesday said it has fixed a price band of Rs 249-263 per share for its upcoming Rs 777 crore initial public offering (IPO). The Chennai-based company's initial share sale will open for public subscription on September 16 and conclude on September 19. The bidding for anchor investors will open for a day on September 13. The IPO is a combination of a fresh issue of equity shares valued at Rs 500 crore and an Offer For Sale (OFS) of up to 1,05,32,320 equity shares worth Rs 277 crore, at the upper end of the price band, by investor shareholders. This aggregates the issue size to Rs 777 crore. Those offering shares through the OFS are Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Eight Roads Investments Mauritius II Ltd, Sumitomo Mitsui Banking Corporation, 360 ONE Special Opportunities Fund (formerly known as IIFL Special Opportunities Fund) and Dvara Trust. Proceeds from the fresh issue woul

Business Standard

UR Sugar Industries Ltd leads losers in 'B' group

NDL Ventures Ltd, Fino Payments Bank Ltd, Ecos (India) Mobility & Hospitality Ltd and IIFL Securities Ltd are among the other losers in the BSE's 'B' group today, 06 September 2024.

Mint

MSCI August rejig today: Indian stock market likely to see $5.5 billion inflows; HDFC Bank shares up on weight increase

Dixon Technologies is set to receive the maximum passive inflows worth $257 million, followed by Vodafone Idea at $254 million, according to estimates by IIFL Alternative Research.

The Economic Times

Today's MSCI index rejig can bring $5.5 billion to D-Street

"MSCI's August 2024 review changes for its standard and small-cap indices will be implemented on Friday, likely leading to $5.5 billion in net inflows," said Sriram Velayudhan, head of alternative research at IIFL. "This includes adjustments to country weightings, with India expected to gain substantially post-rebalancing."

Business Standard

Sebi proposals on F&Os may dent NSE earnings by 25%: IIFL Securities

The proposed changes include limiting weekly options contracts to one index per exchange, higher margin requirements near expiry, and a higher entry point by increasing the contract size

The Economic Times

Finarkein Analytics raises $4.75 million in funding from Nexus Venture Partners, others

Pune-based Finarkein Analytics secured $4.75 million in a pre-series A funding round led by Nexus Venture Partners. Existing investors IIFL Fintech Fund and Eximius Ventures also participated. The firm plans to use the funds for product development and expansion. Founded in 2019, Finarkein focuses on data and workflow orchestration for digital public infrastructure in India.

The Economic Times

Administrative costs of Jio, Airtel rise in Q1, Vodafone Idea's dip

As per company data and ICICI Securities estimates, Jio and Airtel's SG&A costs have risen 4.2% and 3.2% on-quarter to ₹1,455 crore and ₹2,805.6 crore, respectively, in the April-June period. Vi's quarterly SG&A expenses, in turn, have declined 3.2% sequentially to ₹1,135.4 crore, company data and IIFL Securities estimates showed.

Business Standard

IIFL Finance off-loads stressed commercial realty loans to ARC in Q1FY25

No plans to become BC for gold loan business

Business Standard

Hindenburg attacking Sebi's credibility, say Madhabi and Dhaval Buch

US-based short seller Hindenburg Research is attempting to attack Sebi's credibility and indulging in character assassination of its chairperson, Sebi chief Madhabi Puri Buch and her husband Dhaval said on Sunday. In a detailed statement issued on Sunday evening in response to allegations made by Hindenburg, the Buchs said their investment in a fund promoted by IIFL Wealth Management was as Singapore-based private citizens, and made two years before Madhabi joined Sebi as a whole-time member. They said Dhaval, a senior advisor at Blackstone since 2019, is not associated with the real estate side of the private equity major. The statement also said that Madhabi's two consulting companies immediately became "dormant" on her appointment at Sebi in 2017 as a whole-time member. "Hindenburg has been served a show cause notice for a variety of violations in India. It is unfortunate that instead of replying to the Show Cause Notice, they have chosen to attack the credibility of the SEBI an

Business Standard

No investments in Adani firms, Sebi chair not involved in fund's ops: IIFL

IPE-Plus Fund 1 never invested in Adani stocks: 360-One WAM

Business Standard

IIFL Finance Q4 results: Consolidated net profit falls 6% to Rs 431 cr

IIFL Finance on Sunday reported a 6 per cent decline in consolidated net profit to Rs 431 crore for the March quarter as the RBI barred the financial services firm from undertaking gold loan business. The company had earned a net profit of Rs 458 crore in the same quarter a year ago. The Reserve Bank of India (RBI) on March 4 barred IIFL Finance Ltd from disbursing gold loans, with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. Its consolidated total income during January-March 2024 rose to Rs 2,922 crore as compared with Rs 2,276 crore in the year-ago period, IIFL Finance said in a regulatory filing. Interest income of IIFL Finance offers a range of loans and mortgages increased to Rs 2,720 crore during the quarter, as against Rs 2,058 crore in the year-ago period. During the quarter, the gross non-performing assets (NPAs) increased to 2.3 per cent as against 1.8 per cent at the end