HDB FINANCIAL SERVICES
HDFC Bank shares jump 1.5% to hit fresh 52-week high; here’s why
HDFC Bank shares surged to a 52-week high following the RBI's unexpected interest rate cut and CRR reduction. The Bank Nifty also hit a record high, with other bank stocks rising. While NIM concerns arose, the CRR cut is expected to inject liquidity and boost economic growth.
Bullish on market but near-term consolidation can’t be ruled out: Pankaj Pandey
Market sentiment is positive, but banking may face initial hurdles. Recovery is expected later, potentially leading to depository pricing. Domestic liquidity is strong, supported by mutual funds. Near-term consolidation is possible. Ola's future depends on its cell technology. Mahindra and Mahindra excels, Tata Motors gains favor, and Eicher Motors is preferred in two-wheelers.
HDFC Bank shares in focus after HDB Financial Services gets SEBI nod for IPO
HDFC Bank shares will be in focus after its subsidiary, HDB Financial Services, received SEBI’s approval for its Rs 12,500 crore IPO. The issue includes a Rs 2,500 crore fresh issue and a Rs 10,000 crore OFS. As an upper-layer NBFC, HDB must list by September 2025. The funds will bolster its Tier-I capital base.
Stocks in news: Tata Technologies, Ola Electric, Nestle, HDFC Bank, Wipro
Markets experienced a slight downturn amid volatility, influenced by weak cues. Tata Technologies saw TPG likely selling a stake via block deal, while Ola Electric witnessed Citigroup acquiring shares. Nestle's permanent employee count decreased despite increased capital expenditure, and Wipro secured a multiyear deal to drive growth through AI-powered tech services.
HDB Financial Services and five other companies secure SEBI approval for IPOs
HDB Financial Services, along with five other companies, has received Sebi's approval for their IPOs. HDB Financial's ₹12,500-crore IPO includes a fresh issue and an offer for sale, aiming to boost its tier-I capital. As an upper-layer NBFC, HDB Financial must list by September 2025 per RBI rules. Vikram Solar, A-One Steels India, and others also got the green light.
Sebi approves HDB Financial, Vikram Solar among six IPOs
Sebi has approved IPOs of six companies from sectors like renewable energy, finance, steel, chemicals, jewelry, and logistics. Notable names include Vikram Solar, HDB Financial, and A-One Steels, reflecting a strong IPO pipeline and diversified market interest.
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HDFC unit is said to near SEBI nod for $1.5 billion IPO
HDB Financial Services is nearing regulatory approval from SEBI for its IPO, potentially raising $1.5 billion. This listing, a unit of HDFC Bank, could be India's largest IPO for a shadow bank and a significant test for the IPO market. Tata Capital is also planning a substantial IPO, indicating a potential resurgence in Indian listings.
Indian IPO market gains momentum with 7 cos launching offerings in May
After a three-month lull, India's primary equity market is rebounding, with seven companies launching IPOs in May and more planned for June. This resurgence is fueled by a stabilizing secondary market, easing geopolitical tensions, and successful block deals. Investor confidence is returning, and the market favors companies with strong fundamentals and realistic valuations, signaling sustained growth.
Credit Saison secures $150 million ECB funding from Mizuho
Credit Saison India has secured $150 million in ECB funding from Mizuho Bank through its GIFT City branch, following Mizuho's equity investment last year. The five-year tenor funding will enhance Credit Saison India's loan book and expand its pan-India footprint through branch lending and fintech partnerships. This deal demonstrates Mizuho's confidence in Credit Saison India's growth model.
Edelweiss Mutual Fund lifts lumpsum cap on Recently Listed IPO Fund; Radhika Gupta shares why the timing is right to invest
Edelweiss Mutual Fund has lifted the Rs 2 lakh cap on lumpsum investments in its Recently Listed IPO Fund, citing corrected valuations, a strong IPO pipeline, and robust earnings. The fund has returned 12.9% since inception, outperforming its benchmark.
MUFG is back at HDB table, with ₹12,000 crore cheque
Mitsubishi UFJ Financial Group is in advanced discussions to acquire a minority stake, up to 19%, in HDFC Bank's non-banking financial arm, HDB Financial Services, for approximately ₹12,000 crore. This potential deal, the second attempt by both parties, aims to address investor concerns regarding RBI regulations impacting NBFCs and HDB's financial performance.
HDFC Bank races past Goldman Sachs in market value, signals post-merger strength
HDFC Bank's market capitalisation has surpassed Goldman Sachs, reaching $183.32 billion amid post-merger recovery. Strong quarterly results, improved deposit mobilisation, and stabilising net interest margins have fueled the bank's stock rally. Analysts predict continued growth, with potential value unlocking from HDB Financial Services' listing, highlighting HDFC Bank's increasing global prominence.
Gen Z now makes up nearly a quarter of BFSI workforce: Great Place To Work report
India's Banking, Financial Services, and Insurance sector sees a rise in Gen Z employees. A new report by Great Place To Work India highlights this shift. The sector focuses on flexibility and inclusion. Insurance and NBFCs lead in workplace engagement. Concerns remain about workplace politics. Axis Max Life Insurance and HDB Financial Services are recognized as top workplaces.
Sebi yet to clear HDB, Hero FinCorp IPOs; talk of breach of some rules
According to sources familiar with the matter, the Securities and Exchange Board of India has held back its green light for the much-awaited public issues so far, as share sales by these companies could have inadvertently ended up violating rules that govern unlisted companies.
HDFC may cut stake in HDB or segregate biz to meet overlap rule
While HDFC Bank also has the option of merging HDB Financial Services with itself, Macquarie believes the bank may not consider this route due to the operational challenges associated with asset-liability mismatch and other reserve requirements mandated by the Reserve Bank of India .
RBI draft circular on overlapping businesses poses valuation challenges for HDB Financial: Macquarie
India's leading private lender HDFC Bank plans to potentially reduce its stake in HDB Financial Services to below 20% or consider product segregation if the draft RBI circular on overlapping business moves forward, avoiding merger due to operational complexities and compliance challenges, as analyzed by Macquarie Capital.
IPO-bound HDB Financial stock soars in unlisted market
HDB Financial Services, owned by HDFC Bank, is planning a ₹12,500 crore IPO, aiming to be the largest NBFC listing in India. While unlisted market shares surged to ₹1,200, experts predict a more realistic IPO price of ₹750-₹800. The listing is driven by RBI regulations requiring upper-layer NBFCs to go public.
HDFC Bank's board approves Rs 12,500-cr IPO for HDB Financial
The NBFC will also issue fresh equity shares worth ₹2,500 crore in the IPO, taking the total size of the issue to around ₹12,500 crore, the bank said in a notice to the stock exchanges.
HDFC Bank to offload Rs 10,000 cr worth stake in Rs 12,500 cr IPO of HDB Financial Services
Leading private lender HDFC Bank is set to divest Rs 10,000 crore worth of its stake in HDB Financial Services in a forthcoming IPO. This move comes in response to new regulatory norms and aims to enhance HDB's lending capabilities and digital infrastructure.
HDFC Bank approves IPO of HDB Financial Services with fresh equity sale of Rs 2,500 crore
HDB Financial Services IPO: The IPO comprises a fresh equity sale of Rs 2,500 crore and an offer-for-sale component, allowing existing shareholders to divest their holdings. HDB Financial Services, a major NBFC, focuses on retail and commercial customers with a diversified portfolio of financial products and services.
HDB Financial Services taps global I-Banks for IPO
HDB Financial Services, the non-banking finance arm of HDFC Bank, is preparing for an IPO. They are in talks with Bank of America Securities, Morgan Stanley, and Nomura to shortlist advisors. The IPO aims to raise around ₹10,000 crore by diluting nearly 10% of its stake. The listing complies with RBI guidelines.
HDB Financial Services flags data breach at service provider
"We have taken immediate steps to secure the service provider's system to prevent any further unauthorized access," HDB said in an emailed statement. The company did not immediately respond to a Reuters request for comment on the nature of the data breach and how many customers were affected.
HDB Financial Services loses half its market value in a year
"The shares of HDB Financial have fallen nearly 50% from the peak of ₹1,200 hit in the early half of 2020; this is largely due to the lagging financial performance and the regulatory overhang," said Rahul Thalia, director, Sarffin Financial Advisors. "The shares had also risen due to expectations that an IPO was in the offing but the proposed merger has also cast a doubt over those plans."
Hero Electric ties up with HDB Financial Services for retail finance
"Electric two-wheelers will become the vehicles for masses in the future, and easy financing is one of the essential cogs in the wheel. We at Hero have a basket of financers, offering a wide choice of ownership options to suit one's requirements," Hero Electric CEO Sohinder Gill said in a statement.
Second wave impact: HDFC Bank’s NBFC arm sees bad loans double in three months
HDB Financial Services also saw a sharp fall in its net profit by almost 44% to Rs 130.6 crore at the end of the June quarter versus Rs 232.7 crore same time a year ago.
HDB Financial shelves IPO, opts for NCD; unlisted market shows patience
Dealers from the unofficial market for trading in unlisted shares said they have faith in the strong parentage of HDFC Group.
HDB Fin’s challenges may continue for now
The unit saw a quarter of sub-par asset quality and credit growth as its loan growth decelerated, net interest income declined, profit slumped drastically and bad loans increased.
HDB Financial Services sacks about 150 employees
HDFC Bank in a statement said, "What we are seeing is an attempt by a handful of disgruntled employees to take advantage of the current situation. This involves a minuscule number of employees out of the total 1 lakh+ and has nothing to do with the ongoing lockdown or the resulting economic situation."
Acko partners with HDB Financial Services
Acko will be powering the Aabhar card holder with micro insurance cover which will provide a range of benefits including Vector borne disease cover, loan protector and hospital cash allowance to HDB customers, according to a release.
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