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    SHRIRAM SUBRAMANIAN

    Idea of Kotak as a party to Hindenburg’s Adani shorting strange and almost unbelievable: Shriram Subramanian

    Shriram Subramanian gives his opinion on the saga involving Kotak Mahindra Bank, Hindenburg Research, and Sebi deepens with the emergence of a show cause notice and the potential for parallel investigations. Details reveal suspected violations, offshore fund structures, and ongoing Adani investigations, raising questions about the alleged role e of Kotak in the controversy.

    Rashmi Saluja & Religare board have been trampling securities law in India: Shriram Subramanian

    Rashmi Saluja and the other directors have been saying that the Burmans are not fit and proper, but they have not furnished any documentary evidence and this is made out even in the SEBI order. All these are frustrating, not just for the company, the interest of the shareholders and also frustrating securities law and the regulator itself, says Shriram Subramanian.

    InGovern gets defamation notice over its report on Religare

    Religare alleged that InGovern, founded by Shriram Subramanian, had published a defamatory report on its website without any verification and without studying information available in the public domain.

    Shriram Finance shares climb over 5% on sale of housing finance subsidiary

    Shares of Shriram Finance surged 5% to Rs 2,419 on Tuesday following the approval from its board to sell its housing finance unit, Shriram Housing Finance (SHFL), to US private equity firm Warburg Pincus for Rs 4,630 crore. Shriram Finance, which holds a controlling stake in SHFL, and Valiant Partners L.P.

    Warburg Pincus brings home Shriram Housing Finance co with Rs 4,630 cr buyout

    Largest Housing Finance M&A, the large buyout for the PE fund in India. Current management to stay at the helm. New brand name to be announced shortly.

    Shriram Finance to sell housing finance subsidiary to Warburg Pincus for Rs 4,630 crore

    Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment from all the sellers. Shriram Finance (SFL) holds a controlling stake in SHFL while private equity firm Valiant Partners L.P. (Valiant), Mauritius, holds the remaining ownership. As a part of this transaction, Valiant will also completely divest its equity stake to Warburg Pincus, the company filing said.

    • Shriram Housing Finance Q4 Results: Net profit surges 67% YoY to Rs 62 crore

      The lender’s assets under management grew 71% year-on-year to Rs 13,762 crore at the end of March while asset quality deteriorated marginally with gross non-performing assets ratio rising 10 basis points to 1.03%.

      Gautam Singhania assures board, staff of business stability

      After more than two decades of marriage, billionaire industrialist Gautam Singhania publicly announced on November 13 separation from his wife, Nawaz, on X (formerly Twitter). On Nov 20, ET was the first to rep-ort that Nawaz had sought 75% of Gautam's net worth for her two da-ughters, Niharika and Nisa, and he-rself as part of a family settlement.

      Rashmi Saluja was issued huge amount of options in Religare & subsidiary without informing shareholders: Shriram Subramanian

      “The Religare board has to state very clearly why it is opposing a large shareholder increasing its holding. The minority shareholders are affected and they are waiting and watching. SEBI needs to show some directions to both the board as well as the Burmans on what are the next steps. I think the open offer trigger would be passed and that is a very procedural matter. ”

      Shriram Subramanian on infighting in Finolex Cables & what should investors do?

      The ongoing fight between cousins in Finolex Cables, with Orbit Electricals owning 31% shares and controlled by Prakash Chhabria, could potentially result in a change in control if voting results are against Deepak Chhabria. The Supreme Court allowed Orbit to participate in the voting at the recent AGM, but the results have not been disclosed yet. While it's not the first instance of undisclosed voting results, the company should have disclosed them but withheld action pending the NCLT ruling. Institutional investors should question management on how they are addressing the dispute to protect the company's performance.

      NBFCs bracing for a rise in borrowing costs

      Japanese brokerage Nomura Securities expects cost of funds for NBFCs to increase by 30-40 basis points by December 2023 due to a broad increase in market yields, higher benchmark bank rates and because non-convertible debentures (NCDs) issued by NBFCs will be priced at a more expensive yield.

      Shriram Housing Finance partners with IFC to promote green affordable housing finance in India

      Shriram Housing Finance Limited (SHFL) and International Finance Corporation (IFC), a member of the World Bank, have entered into a partnership to launch an affordable green housing lending product for self-constructed homes. IFC will provide training and capacity building for SHFL teams on the principles and applications of the EDGE software, standards, and certification system

      IFC and Shriram Housing Finance join hands to promote construction of green, low-cost houses in India

      Under the partnership, IFC will provide training and capacity building for Shriram Housing Finance employees on the principles and applications of its Excellence in Design for Greater Efficiency (EDGE) certification tool for the affordable self-construction segment customers and impact monitoring tool (CAFI) for reporting of green affordable housing.

      Shriram Housing Finance eyes Rs 30,000 crore AUM by FY26

      Shriram Housing Finance plans to triple its asset under management (AUM) to INR 30,000 crore by FY2026 with Vision 2026 plan. The company plans to double the branch network and manpower count in the next two-and-a-half years. It also plans to launch approved project finance and loans for under-construction properties in FY24-25.

      Shriram Housing Finance raises $50 million in its maiden external commercial borrowing

      The mortgage lender, which is part of the Shriram Group, has raised the fund from Canara Bank's London branch at 200 basis points over Secured Overnight Financing Rate (SOFR), a company official said. The fund was raised for three years. The overall cost with one-year hedging cost has come around 8.4%, the official said. This is in line with the company's average borrowing cost of 8.5%. One basis point is 0.01 percentage point.

      Why reappointment of Sanjay Dalmia to GHCL board was rejected at AGM? Shriram Subramanian explains

      “The GHCL shareholders wanted change. The stock price has been range-bound while the market has surged. From that perspective, especially in the last one or two years, shareholders were angry and they wanted change.So it was not unexpected.”

      Shriram Finance yet to decide on stake dilution in housing finance arm, may infuse capital by year-end

      "We are still debating about how to infuse capital into the housing finance company. The debate is whether we should infuse capital or we should unlock the value by diluting 10-20% of our holding, or go for an initial public offer. We are not yet clear about the path we want to take," Shriram Finance Managing Director YS Chakravarti told ET.

      Shriram Subramanian on what Sebi disclosure norms means for listed companies

      Sebi's new disclosure norms for listed companies will put a further onus on companies, particularly smaller firms, to scour a range of media, and social media, for rumours or false news, says Shriram Subramanian, Founder & MD, InGovern. The regulations will require all rumours to be addressed, not only those raised by exchanges, within 30 minutes of appearance. Subramanian said this would suit companies with an individual in place to handle it, but also identified difficulties in identifying the materiality of obscure or fake news.

      Baring PE Asia looks to pick up stake in Shriram Housing Finance

      Shriram Housing Finance had assets under management (AUM) of Rs 7,200 crore at the end of December. Baring PE Asia had previously been among the major contenders to acquire ICICI Home Finance, a deal that didn't materialise.

      IndusInd taking Zee to NCLT is a joke, appears to be holding it to ransom at moment of merger: Shriram Subramanian

      "I do not think the Zee-Sony merger will get substantially delayed or delayed at all. If anything, between now and March, when NCLAT hears this again, there should be a one-time settlement between these two parties. Otherwise, what is the point? What is the IndusInd trying to achieve at the end of the day?"

      Adani Group plans independent probe into Hindenburg allegations

      According to industry observers, the decision to undertake an independent assessment augurs well to reassure investors, especially equity investors, who have borne the major brunt in the saga and have witnessed steep wealth erosion.

      Shriram Housing Finance in merger talks, valuation holds the key

      Shriram Housing Finance, a subsidiary of Shriram City Union Finance, is actively pursuing a smaller lender in the affordable housing space for acquisition and merger while valuation mismatch may pose a hurdle to the scheme of things. Talks are on, said managing director Ravi Subramanian.

      What went wrong with Byju’s? Shriram Subramanian has a take

      “If despite the tailwinds in its heyday, Byju’s was not profitable or did not create a buffer, then how is it going to weather even a simple storm? That is the hard hitting reality. There is definitely a marketplace for edtech across the education value chain but it did not grow in a measured fashion and from that perspective, now is the time to make deep cuts.”

      What's ailing edtech? Shriram Subramanian answers

      “Valuations seem to have trumped even the core business processes. At the end of the day, these companies should be increasingly seen from the angle of what value they are adding to society at large; whether these companies are going to be sustainable; whether we are going to see many of these names 10 years down the line.”

      Chandrasekaran likely to chair new Air India board

      Going by the Tata Group’s current board format, Ratan Tata is expected to be chairman emeritus of AI, which will mark his return to the carrier after years (Ratan Tata, who holds a pilot licence for fixed-wing aircraft and helicopters, was the AI chairman in the mid-1980s).

      Zee vs Invesco: NCLT decision awaited. We have to see if Invesco approaches SC

      “As of now, the Bombay High Court decision is in the favour of Zee Entertainment.”

      Zee Vs Invesco: It’s a messy situation right now, says Shriram Subramanian

      “Whether Zee will have to wait for the ministry approval first or whether they go to the shareholders first is not very clear,”

      Eyes on Finolex Cables AGM; Sony deal good for Zee: Shriram Subramanian

      “After Sony comes in, it will create the largest media company in India and one of the largest in the world. ”

      Shriram City Union Finance to infuse Rs 500 crore in Shriram Housing Fin

      The current infusion will increase SCUF's holding in SHFL to 81.16 per cent from the existing 77.25 per cent, it said.

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