While CSB Bank received overwhelming response from investors in its public issue last week, other private lenders -- Yes Bank and RBL Bank -- have announced their plans to raise funds via preferential allotment and private placement of shares, respectively.
Yes Bank to raise $2 billion through preferential allotment of shares The board of directors of Yes Bank decided to raise up to $2 billion through the preferential allotment of the company's shares, according to a release filed with exchanges.
Eight new investors have expressed interest in acquiring fresh stake in the bank. These include three institutional investors and five family offices, the private lender said after almost 12-hour long board meeting that was held on November 29. RBL Bank to raise Rs 825.79 crore through private placement of shares RBL Bank, on November 30, announced that it will raise Rs 825.7 crore through the private placement of shares.
According to a release, the bank will issue 24,238,310 shares at a price of Rs 340.70 per share, and with a face value of Rs 10 for each share among five investors. It will raise Rs 8,25,79,92,217 from the issue. CSB Bank Rs 410-cr IPO oversubscribed by 87 times, HNIs see massive 165x subscription The Rs 410-crore public issue of private sector lender CSB Bank continued to receive overwhelming response from investors of all categories on November 26, the last day of bidding.
The IPO has been oversubscribed by 86.93 times as it has received bids for 100.44 crore equity shares against its issue size of 1.15 crore shares (excluding the anchor book), as per latest exchanges data showed. NBFC liquidity crunch: Banks await relaxation in government's partial credit guarantee scheme It has been over three months since its launch, but the government's partial credit guarantee scheme for banks to buyout loan portfolios from non-banking finance companies (NBFCs) is yet to take off. The government had set a target to disburse Rs 1 lakh crore worth of loans by February 2020, but lenders have only identified pools of around Rs 15,000 crore as of now. HDFC Bank sets up panel to identify Aditya Puri's successor HDFC Bank has set up a six-member panel to identify the new managing director to replace Aditya Puri after he retires in October 2020.
The bank's chairperson and former Reserve Bank of India (RBI) deputy governor Shyamala Gopinath, additional director Sanjiv Sachar, former Infosys CFO MD Ranganath, Sandeep Parekh, Srikanth Nadhamuni and HDFC's representative Keiki Mistry have been named members of the search committee.
Soon, website for PSB loans will track repayments too The loan disbursement platform onlinepsbloans.com that provides quick sanctions for retail and MSME borrowers within 59 minutes is working on a module that will help banks track repayments too. “We are working with the banks to roll out a project where, throughout the lifecycle of the loan, we can digitally track it rather than manually doing it,” Jinand Shah, CEO, Onlinepsbloans said.
DHFL resolution: What happens to public deposits?
As the troubled Dewan Housing Finance Corporation (DHFL) heads for resolution under the Insolvency and Bankruptcy Code (IBC), a big question that remains unanswered is what will happen to the public deposits of Rs 6,000 crore stuck in the housing finance company (HFC). According to experts, DHFL’s depositors need to gear up for a haircut after a long-drawn legal process. The haircut may not be much if the HFC is able to attract valuable bids from new investors. However, the ongoing fraud investigations may hamper the HFC’s value and keep bidders at bay. Chanda Kochhar moves Bombay HC against ICICI Bank, hearing on December 2 Chanda Kochhar, the former Managing Director and CEO of ICICI Bank has moved the Bombay High Court against the bank on her 'termination' from the company. The matter is listed on the Bombay High Court website on its cause list for December 2. This would be the first such case in India where a private bank’s former chief has moved court against termination.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
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