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temasek holdings pays rs 10 billion for 5% stake in au small finance bank




temasek holdings, an investment vehicle owned by the singapore government, has picked up five per cent stake in jaipur–based au small finance bank for rs 10 billion. the capital is expected to support the bank’s organic business growth in the current financial year (fy19) and the next (fy20). ...



fairfax india to pick up 51% stake in catholic syrian bank for rs 12 bn




canadian investor prem watsa’s fairfax’s indian arm fairfax india holdings will buy a 51 per cent stake in the kerala-based catholic syrian bank for around rs 12 billion. the deal, if it materialises, will be the first takeover of an indian bank by a foreign non-banking financial entity after th...



pnb to raise rs 130 bn via stake sale in subsidiaries, bad loans' recovery




fraud-hit punjab national bank plans to raise rs 130 billion through stake sale in subsidiaries and recovery of bad loans by september end, an official said on friday. the psu lender, among other things, is planning to sell stake in its arm pnb housing finance where it holds 39.08 per cent. "the ban...



street signs: pnb housing closes gap with pnb, bse shares fall, and more




the plunge in share prices of punjab national bank (pnb) following the rs 127-billion fraud has narrowed the market capitalisation gap between the lender and its housing finance arm. currently, pnb housing, in which pnb owns 33 per cent stake, is valued at rs 201 billion. on the other hand, pnb is v...



canara bank to raise rs 4.5 billion via offloading stake in canbank factors




canara bank, which dropped plans to sale 30 per cent in canfin homes, expects to generate about rs 4.5 billion through offloading stake in canbank factors and computer company as well as real estate in 2018-19. the process of finding buyer for stake in canbank factors is underway and hope to conclud...



greece, paneuropean in talks to jointly divest stake in hellenic petroleum | bus




greece and paneuropean oil and industrial holdings are in talks to divest a combined majority stake in greece’s biggest oil refiner hellenic petroleum, hellenic said.under its latest 86 billion euro ($107 billion) bailout, athens agreed to launch a series of privatizations this year, including div...



suryoday small finance bank to open 90 branches in the country




"out of 90 branches, we have so far opened 19. by the next financial year we will be completing opening of 90 branches and converting 37 micro finance branches to banking outlets", said pawan tandon, head (branch banking) of the small finance bank. pawan was in the city to inaugurate bank's first br...



suryoday small finance bank to raise rs 2 bn capital from new investors




navi mumbai based suryoday small finance bank ltd (previously known as suryoday micro finance ltd), plans to raise rs two billion capital from new and existing investors througha preferential issue. ssfb, which started its banking operations last year in january 2017, is backed by marquee investors ...



idbi bank scouts for transaction advisor to sell stake in amc arm




public sector lender idbi bank has kicked off the process to appoint a transaction advisor to offload 25 per cent stake held by idbi capital market in mutual fund subsidiary idbi asset management company (amc). the stake sale in the amc is in addition to the ongoing work to pare stake in nsdl and in...



jana small finance bank is looking at listing its shares by march 2021




jana small finance bank, formerly janalakshmi financial services, is looking at listing its shares by march 2021. it started operations on march 28. as a micro finance institution, bengaluru-based janalakshmi raised rs 16 billion as capital in 2017-18. it hopes to raise about rs 3 billion soon. the ...



pnb housing finance falls 7% after huge block deals




shares of pnb housing finance have fallen 7% to rs 1,271 per share on the bse in intra-day trade after nearly nine per cent of total equity of the housing finance company changed hands through multiple block deals. till 10:46 am; a combined 14.52 million equity shares representing 8.69% of total equ...



malaysian merger could open window for anz stake sale: sources




anz bank is moving closer to a deal to sell its malaysian banking stake to a pension fund and exit the south-east asian nation, sources familiar with the matter said, in a transaction that could be worth around $us900 million ($1.2 billion).anz has been pursuing a sale of its 24 per cent stake in i...



more upside likely for small finance banks; ujjivan, equitas stock jump




non-banking financial companies which have converted into small banks have got investor attention. the share prices of ujjivan financial services, au small finance bank and equitas holdings have risen by 11-20 per cent in the past three months. this reversal in sentiment is driven by a rebound in th...



merrill lynch sells 2% stake in indiabulls housing finance for rs 9.82 bn




merrill lynch on tuesday sold nearly 2 per cent stake in indiabulls housing finance for rs 9.82 billion through an open market transaction. according to the bulk deal data available with bse, merrill lynch markets singapore pte ltd offloaded 7.59 million shares or 1.78 per cent stake in indiabulls h...



ongc to raise rs 181 bn from three banks to finance hpcl acquisition




oil and natural gas corporation (ongc) will raise nearly rs 181 billion in debt to meet its funding requirement for acquisition of hindustan petroleum corporation. ongc has a funding requirement rs 369.15 billion for buying government’s 51.2 per cent stake in the country's second-largest petroleum...



l&t finance to raise rs 40 bn via qip




l&t finance holdings, a subsidiary of larsen & toubro (l&t), plans to tap the market for a qualified institutional placement (qip). the non-banking financial firm has appointed four investment bankers — citi, edelweiss, motilal oswal and jm financial — to manage the placement, said sources. the ...



chinese billionaire li shufu buys biggest single stake in daimler




daimler just got a new biggest shareholderchinese billionaire li shufu has bought a near 10-percent stake in mercedes-benz maker daimler, making him the german group's largest single shareholder, a stock market filing showed friday. li, who chairs auto giant geely automobile holdings, bought a 9.69-...



eyeing growth opportunities, canara bank not to sell stake in amc business




public sector lender canara bank on friday said it will not sell its stake in asset management division firm robeco asset management company due to huge growth opportunities in the sector.earlier in november, the bank had said it will sell stake, either in part or full, in subsidiary firm canara rob...



psu banks extend gain after government cuts h1 borrowing




shares of public sector banks were trading higher for the second straight day with the nifty psu bank index gaining more than 1% on tuesday, extending its previous day’s 5% rally, after the government announced lower-than-expected borrowing programme for the first half of the financial year 2018-1...



canara bank not to divest stake in can fin homes due to low price quotation




state-owned canara bank has called off move to divest its entire shareholding in housing finance subsidiary canfin homes after receiving lower than expected price quotation. "since the quote received is not in tune with the valuation, canara bank has decided to call off divestment process of it enti...



indiabulls hsg finance q-on-q net up 35% to rs 11.6 bn on one-time sale




indiabulls housing finance limited (ibhfl), the country’s second largest housing finance company, registered a net profit of rs 11.67 billion for the quarter ending december 31, 2017. on the sequential basis, ibhfl’s net profit has risen 35 per cent from rs 8.61 billion from the quarter ending s...



psu banks extend gain after government cuts h1 borrowing




shares of public sector banks were trading higher for the second straight day with the nifty psu bank index gaining more than 3% on tuesday, extending its previous day’s 5% rally, after the government announced lower-than-expected borrowing programme for the first half of the financial year 2018-1...



idbi bank sells 30% negil stake to iifl wealth for rs 11 billion




capital-strapped public sector lender idbi bank has raised about rs 11 billion by selling its entire 30 per cent stake in nsdl e-governance infrastructure (negil) to iifl wealth management. idbi sold 12 million equity shares on february 15, banking sources said. there were three bidders. iifl wealth...



china's ant financial closes funding; raises $10 bn at $150 bn valuation




ant financial services group, operator of china's biggest online payment platform by market share, alipay, has closed its latest funding round having raised $10 billion from a clutch of global and local investors, five people with direct knowledge of the matter told reuters. the fundraising values t...



state bank of india set to sell stake in insurance arm soon




state bank of india chairman rajnish kumar on tuesday said the lender is looking to sell stakes in some of its subsidiaries over the next two years. “all our subsidiaries have done exceedingly well. they hold large value which is waiting to be unlocked. we have plans to unlock that potential in th...