HDB FINANCIAL SERVICES
Mitsubishi UFJ's talks for stake in HDFC Bank said to hit snag
Mitsubishi UFJ Financial Group Inc. (MUFG) is facing hurdles in its negotiations to acquire a minority stake in HDFC Bank Ltd.'s consumer lending unit, HDB Financial Services Ltd. The main point of contention is the extent of control MUFG would have over HDBF's business strategy. While MUFG remains interested in the deal, talks are at risk of further delays or possibly collapsing altogether due to these disagreements.
HDB Financial awaits parent’s approval to begin IPO journey
HDB Financial Services, the non-banking financing arm of HDFC Bank, is preparing for an IPO to list by September 2025 with a valuation range of $9 billion to $12 billion. The lender plans to open 200 branches this fiscal year to expand its loan book.
Bajaj Housing Finance board approves plan to raise Rs 4,000 crore via IPO
Bajaj Housing Finance, currently a subsidiary of Bajaj Finance, is among 15 NBFC and housing finance companies (HFCs) classified in the so-called upper layer of the RBI, according to a list that was released on September 30, 2022.
MUFG likely to sweeten $1.7 billion offer for HDB Finance
The two sides are seeking to reach an agreement in about a month, the people said, asking not to be identified discussing private information. MUFG has been working on the purchase of a 20% stake in HDB Financial Services, Bloomberg News reported on April 12.
Japan's MUFG mulls sweeter offer for India's HDB Financial, Bloomberg News reports
HDB Financial, incorporated in 2007, provides secured and unsecured loans and has more than 1,680 branches across India.
Japan's MUFG may cut $2b cheque for 20% in HDB Financial Services
MUFG in talks to buy 20% stake in HDB Financial Services from HDFC Bank at $9-10B, unlocking value post $60B merger, with $2B investment, IPO preparations per RBI regulations.
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HDFC Bank shares in focus as Japan’s MUFG set to buy 20% stake in HDB Financial
HDFC Bank's stock reacts to MUFG's 20% stake purchase in HDB Financial Services at $9-10 billion valuation pre-IPO.
ET Exclusive: Japan’s MUFG set to pick 20% stake in HDFC Bank arm HDB Financial for $2 bn
Bank of Tokyo-Mitsubishi UFJ (MUFG) is set to buy a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank, at a valuation of $9-10 billion. The decision is expected to take place next week at the HDFC Bank board meeting. The deal is expected to be among the largest deals in the shadow banking space in India. HDFC Bank owns 95% of the shadow bank, while employees own 5% as ESOPs.
Aditya Birla to consolidate financial services to comply with RBI norms
Aditya Birla Finance, the lending subsidiary of the steel to telecom group, will merge with its listed parent Aditya Birla Capital to comply with the Reserve Bank of India's (RBI) scale-based regulations for non-banking finance companies (NBFCs). The merger will result in Aditya Birla Finance's mandatory listing by September 30, 2025.
HDFC Bank gears up to list NBFC arm HDB Financial
If the IPO happens in 2024, it could be one of the biggest public issues of the year and the first from the HDFC Group after the merger of HDFC Bank and HDFC.
HDB Fin stock surges on clean-up of bad loans
"As the lender cleans up its books and brings its stage 3 assets under control, I feel we will see demand for this scrip," said Rahul Thalia, director of Sarffin Financial Advisors. "Already valuations have risen in the past two months, though we are seeing demand for this scrip settle at ₹630 apiece at the moment."
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."
EarlySalary looks to close six more deals after HDB tie-up to fuel growth
The HDB tie-up aims to build momentum in the impact categories of skill upgradation, education loans and health-care finance. The association will also facilitate building a large consumer lending book with EarlySalary, Co-founder and CEO Mehrotra said.
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.
HDFC Bank eyes strategic investor in NBFC arm, sees $9-bn valuation
The discussions are preliminary in nature, but with the management confident of asset quality improving in a post-pandemic economy, this is the right time to kickstart a monetisation exercise, said experts. Some HDFC Group watchers also see this as a precursor to an eventual listing.
HDFC Bank shelves HDB's IPO plans
HDFC Bank has decided to shelve IPO plans of its subsidiary HDB Financial Services. The NBFC arm will focus on further improving its technology platform. The bank will consider testing the market for price discovery through a small stake sale.
HDB Financial sees bad loans double in a quarter
The second Covid wave exacerbated asset quality metrics at non-bank financial companies (NBFCs), with HDB Financial Services, the NBFC arm of HDFC Bank, reporting an increase of three times in its gross bad loans in a year.
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.
Nifty zooms to all-time high amid buying across sectors: Key factors driving D-St today
Equities in other Asian markets cheered in the early session in line with global markets as strong US economic data solidified hopes of continuing recovery.
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 Financial Services reports 17% drop in net profit in March quarter
Analysts said the company has been able to arrest the slide in asset quality after a deteriation in the nine months of the fiscal. Gross NPAs had increased to 5.9% in December from 5.1% in September 2020.
HDFC Bank Q4 takeaways: Asset quality steady, arm HDB’s health improves
The bank continued to deliver strong operating performance in the March quarter as pre-provision operating profit surged 20 per cent on-year against expectations of around 13-14 per cent growth.
Multibagger bets, anyone? Some analysts suggest unlisted names
Dealers of unlisted shares say this space is not for traders; but investors with a long-term outlook can hope to earn hefty returns, if they can pick the right bets.
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."
Listed stocks going cheap, unlisted stars lose sheen
Some stocks which traded at steep valuations, now don’t have many takers.
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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