PIRAMAL FINANCE
Piramal Finance and Central Bank of India announce co-lending partnership
Piramal Finance and Central Bank of India have announced a strategic partnership to provide loans to middle and low-income borrowers.
F&O Ban List: Aarti Industries, Piramal Enterprises among 17 stocks under trade ban on Monday
Seventeen stocks, including Aarti Industries, ABFRL, and Bandhan Bank, were under F&O trade ban. This restriction is due to open interest exceeding 95% of market-wide position limits and is lifted when it drops below 80%. Despite high volatility, Nifty and Sensex ended Friday in green, boosted by positive U.S. economic data.
India’s biggest shadow bank Bajaj seeks up to $500 million loan
Bajaj Finance Ltd. intended to raise up to $500 million from overseas markets. The company is negotiating with at least four foreign banks for terms of the loan, which will be priced against the Secured Overnight Financing Rate. This move comes after new RBI rules limited domestic borrowing options for shadow financiers.
Piramal Capital gets creditor status in Radius Project's 5.4-acre Mumbai Project
The National Company Law Tribunal ruled in favor of Piramal Capital & Housing Finance in a dispute over a 5.4-acre land parcel in Mumbai. The tribunal validated the financial claims by Piramal, resolving a legal battle involving J.C. Flowers Asset Reconstruction and confirming the legality of subsequent mortgages on the Avenue 54 project.
Q1 results today: IndiGo, IndusInd among 69 companies to announce earnings on Friday
Companies like Aarti Drugs, Amber Enterprises, Bandhan Bank, Cholamandalam Investment, City Union Bank, ESAF SFB, Equitas SFB, Mangalam Organics, Piramal Pharma, TTK Prestige among others will also declare their results.
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General Atlantic, other PE funds in talks for majority stake in AIMS
General Atlantic and KKR are among several private equity firms vying for a majority stake in Faridabad-based Asian Institute of Medical Sciences (AIMS), valued at approximately ₹1,500 crore. Other interested parties include Growtheum Capital and Everstone Capital, while IndiaRF has withdrawn from the bidding.
Piramal Capital raises $300 million via maiden dollar bonds: IFR
Piramal Capital and Housing Finance successfully raised $300 million through debut sustainability bonds. The final coupon rate of 7.95% was lower than the initial guidance. Major global coordinators included Deutsche Bank, Barclays, and Standard Chartered. The bonds are expected to be rated Ba3 by Moody's and BB- by S&P.
Piramal Capital prices first overseas bond issue at 7.95%; eyes $300 million fundraise
Piramal plans to use proceeds from a new bond issue to fuel its rapidly growing retail business, which has seen a 50% annual expansion in the past two years. While primarily relying on domestic borrowing, Piramal is strategically adding foreign debt to diversify its funding mix, currently composed of NCDs, bonds, loans, and pass-through certificates.
Piramal Capital eyes up to $400 million via bond issue
The company is looking to raise $300 million initially, potentially increasing to $400 million if demand is strong, adopting a conservative approach to better understand market dynamics.
Piramal Capital raises $100-million social loan
Piramal Capital & Housing Finance raises $100 million social loan pre-funded by Standard Chartered Bank. The loan, benchmarked to SOFR, will support affordable housing, MSME business loans, and other social causes. The lender aims for 15% AUM growth in FY25 and plans to expand the retail business.
Piramal Finance plans up to $500 million debut dollar-bond issue
Billionaire Ajay Piramal’s firm is in talks with a group of global investment banks to raise $300 million to $500 million via such notes with a tenor of three to five years, the people said, asking not to be identified as the discussion are private.
M&M, Escorts Kubota among 12 stocks to trade ex-dividend today
Investors rejoice as companies like Piramal Enterprises and Thermax unveil thrilling dividend announcements, promising substantial returns. With the record date fast approaching on July 5, shareholders are on the edge of their seats, eager to seize the opportunity and maximize their gains in the dynamic market environment.
Axis Bank and Piramal Finance join hands under co-lending business
The partnership is expected to leverage the loan processing technology of Piramal Finance and financial expertise of Axis Bank.
Moody's assigns Ba3 rating to Piramal Capital and Housing Finance, outlook Stable
he rating agency said that Piramal Finance is driven by its high capitalization and an increasingly diversified portfolio mix, offset by its relatively low profitability, risks from its legacy real estate exposures and wholesale funding.
Piramal Finance clocks Rs 50,000 crore retail book, aims to double AUM in 4 years
Piramal Capital & Housing Finance announced that it has exceeded Rs 50,000 crore in retail assets under management. The company has set a target to double its retail loan book by the financial year 2028. The non-bank lender aims for retail lending to comprise 75% of its loan book. As of March 31, 2024, the total assets under management (AUM) amounted to Rs 68,845 crore, with the retail segment constituting 70%. Looking ahead, the company plans to expand its assets under management to Rs 1.5 lakh crore by FY28.
F&O stocks: Piramal Enterprises, GAIL among 5 stocks with long buildup
In Tuesday’s trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not.
Lending startup Fibe closes $90 million financing in mix of primary and secondary transaction
Pune-based consumer lending startup Fibe is raining money at a time when fintech lending startups focusing on unsecured consumer lending are finding it difficult to raise fresh equity funding due to RBI's scanner.
Piramal Group arm invests Rs 600 crore in microlender Annapurna Finance
Piramal Alternatives acquired a stake in Annapurna Finance, becoming a top shareholder. Nuveen holds 11%. Kikani cited microfinance's 32% CAGR. Annapurna's AUM is ?10,400 crore. Pattanaik emphasized growth capital's significance.
Piramal Alternatives buys 9.85% stake in Annapurna Finance for Rs 300 cr
Piramal Alternatives, the investment arm of the Piramal Group, has picked a 9.85% stake in Odisha-headquartered micro lender Annapurna Finance through secondary equity deals.
Piramal invests ₹300 crore in Cybercity's Hyderabad villa project
Piramal Capital & Housing Finance has invested nearly ₹300 crore in a villa development project by Cybercity Builders & Developers in Hyderabad. The funding will also be used to acquire land Cybercity Developers bought from Phoenix Group. Piramal Enterprises plans to merge its subsidiary, Piramal Capital & Housing Finance, with Cybercity Builders & Developers.
Paytm shares hit 5% upper circuit on dip buying
Paytm Share Price: The stock, which stooped to a new all-time low of Rs 310 on Wednesday, witnessed a reversal on Thursday amid strong volumes with over 88 lakh shares getting traded on the NSE around 12:20 pm.
Paytm shares plummet 5%, hit all-time low as lending partners invoke loan guarantees
Paytm Share Price: Paytm shares plummeted to an all-time low after Aditya Birla Finance invoked loan guarantees due to repayment defaults. Other partners like Piramal Finance and Clix Capital have also terminated their partnerships, reflecting stress in Paytm's lending business amidst regulatory actions and market conditions.
Paytm’s lending biz in trouble; inside Tata Digital’s top-level churn
Happy Wednesday! Paytm’s lending business has hit a roadblock as partner NBFCs have stopped issuing loans. This and more in today’s ETtech Morning Dispatch.
Aditya Birla Finance, others may have invoked Paytm’s loan guarantees
Aditya Birla Finance invoked loan guarantees from Paytm due to defaults. Partnership stress with other lenders. Paytm's lending business faces challenges post central bank's ban. Changes in top management. Reduced consumer loan portfolio to less than 1%.
Shriram looks to raise up to Rs 2,400 crore to buy Piramal stake in group firms
Shriram Group plans to raise ₹2,000-2,400 crore in debt to buy Piramal Enterprises' stake in Shriram Investment Holdings. Piramal Enterprises fully exits Shriram Group after selling its stake in Shriram Finance.
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