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Business Standard
7 days ago
- Business
- Business Standard
SBI eyes spot among world's top 10 banks by market value in 5 years
The country's largest lender, State Bank of India (SBI), is looking to be among the top 10 global banks in market capitalisation over the next five years. C S Setty, chairman, SBI, said, 'The scope for value creation for the stakeholders is potentially very high. So the larger ambition is, if the market supports, whether we can be part of the top 10 global banks in terms of the market capitalisation (five years).' 'The effort is to ensure that we are consistent in our performance—financial performance, improvement in market share (of deposits and advances) and customer satisfaction,' he said after the listing of shares issued under QIP at NSE. SBI's market capitalisation has risen from Rs 3.25 trillion at the end of March 2021 to Rs 4.40 trillion in FY22, Rs 4.67 trillion in FY23, Rs 6.71 trillion in FY24 and Rs 7.13 trillion at the end of March 2025, according to its analysts' presentation for FY25. The market capitalisation based on Wednesday's trading price stood at Rs 7.53 trillion. The QIP was oversubscribed 4.5 times, with foreign investors accounting for 64.3 per cent of total demand. Marquee long-term investors received approximately 88 per cent of the final allocation, including 24 per cent of the issue size placed with foreign long-term investors. 'We knew that it would be oversubscribed, but this kind of overwhelming response (4.5 times) is a pleasant surprise for us,' Setty said. The bank issued 306 million equity shares to Qualified Institutional Buyers (QIBs) at a price of Rs 817 (including a premium of Rs 816.00 per equity share), aggregating Rs 25,000 crore. The issue opened on 16 July 2025 and closed on 21 July 2025. The capital will augment SBI's Common Equity Tier-1 (CET-1) buffer. The CET-1 will rise to approximately 11.50 per cent from 10.81 per cent as on 31 March 2025, supporting calibrated credit growth across retail, MSME and corporate segments. As for raising debt capital, Setty said additional Tier-I (AT1) bonds would essentially be for replacing the existing Tier-I paper maturing over a period. The Tier-II would be a mix of replacement and new funds. The bank's board has given the nod for raising up to Rs 20,000 crore via AT1 and Tier-II bonds. Asked about further reduction in term deposit rates, he said, 'About the industry, I think the interest rates are easing on the deposits.' The bank has already slashed short-term deposit rates by up to 60 basis points so far in the current financial year. In June, it also reduced interest rates on savings bank deposits to 2.5 per cent from 2.7 per cent earlier. The bank has recently cut the Marginal Cost of Funds-based Lending Rate (MCLR)—a benchmark for lending to businesses—by 15 or 20 basis points across tenors. 'MCLR is formula driven; it gets readjusted as we move forward,' he added. He declined to elaborate on interest rates, citing a silent period ahead of results for Q1FY26.
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Business Standard
25-06-2025
- Business
- Business Standard
HDB Financial Services IPO sees 37% subscription on first day of bidding
The initial public offer of HDB Financial Services Ltd, a subsidiary of HDFC Bank, received 37 per cent subscription on the fi₹t day of bidding on Wednesday. The initial share sale got bids for 4,85,98,380 shares against 13,04,42,855 shares on offer, as per NSE data. The category for non-institutional investors attracted 76 per cent subscription while the quota for Retail Individual Investors (RIIs) got subscribed 30 per cent. Qualified Institutional Buyers (QIBs) quota got subscribed 1 per cent. HDB Financial Services mopped up ₹3,369 crore from anchor investors. The ₹12,500-crore initial public offering (IPO) will conclude on June 27. The price band for the offer has been fixed at ₹700-740 per share. At the upper end of the price band, the company is valued at nearly ₹61,400 crore. The IPO is a combination of a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of ₹10,000 crore by the promoter, HDFC Bank. At present, HDFC Bank owns a 94.36 per cent stake in HDB Financial Services, a non-banking financial company (NBFC) arm of the bank. The company proposes to utilise proceeds from the fresh issue to strengthen its Tier-I capital base. This will support future capital needs, including additional lending, to support business growth. The HDB Financial IPO is the second biggest in the last three years after South Korean automaker Hyundai's ₹27,000-crore offer. JM Financial, BNP Paribas, BofA Securities India, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets (India) Pvt Ltd, IIFL Capital Services, Jefferies India, Morgan Stanley India Company, Motilal Oswal Investment Advisors, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management, and UBS Securities India are managing the company's IPO. The company's shares are expected to be listed on the BSE and NSE on July 2. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
19-06-2025
- Business
- Economic Times
NSE changes bidding rules for SME IPOs from July 1. Check details here
Here are the changes made by the stock exchange: The "Retail Individual Investor" category is now called "Individual Investor" (This is defined as an Individual Investor who is applying for at least 2 lots, worth over Rs 2 lakhs). Minimum bid for Individual Investors: 2 lots (worth over Rs 2 lakhs). Bids at 'Cut-off price' are not allowed for any category. No changes or cancellations are allowed after placing the bid. On the last day, bidding closes at 4:00 PM. UPI approvals (mandates) can be completed till 5:00 PM on the last day. For special/reserved categories: Employees: Minimum 2 lots (over Rs 2 lakhs), up to Rs 5 lakhs Shareholders/Policyholders: Minimum 2 lots (over Rs 2 lakhs) QIBs (Qualified Institutional Buyers) and NIIs (Non-Institutional Investors) must apply for more than 2 lots. Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The National Stock Exchange ( NSE ) has announced certain updates to the bidding process for Small and Medium Enterprises' (SME) initial public offerings (IPOs). These updates are aimed at improving transparency, efficiency, and investor participation in the SME segment of the market . The revised bidding mechanism is scheduled to come into effect on July 1, to the official circular issued by the NSE, both the current (existing) bidding system and the newly introduced one will be functional simultaneously for all SME IPOs that are launched on or before June 30, 2025. This overlap period likely aims to ensure a smooth transition without disrupting ongoing IPO the event of any spillover or delay, the dual system will continue to be in operation until July 11, 2025, to accommodate all in-progress IPOs. After this transitional period, from July 12, 2025 onwards, the new bidding mechanism will become mandatory and will be implemented for all future SME IPOs without exception.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
16-06-2025
- Business
- Economic Times
Capri Global bags investment from Prashant Jain, Madhu Kela in Rs 2,000 cr QIP
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Ace investors Prashant Jain and Madhusudan Kela have invested in Capri Global Capital through their respective investment firms, joining a diverse pool of institutional participants in the company's recently concluded Rs 2,000-crore Qualified Institutions Placement (QIP).Jain's 3P Investment Managers, through its Category-III Alternative Investment Fund, invested Rs 150 crore in the financial services company. Meanwhile, MKVentures Capital , a non-banking finance firm promoted by Kela, also participated in the fundraising with an undisclosed investment comes as Capri Global announced the successful completion of its QIP on June company raised Rs 2,000 crore by issuing approximately 136.5 million equity shares to Qualified Institutional Buyers (QIBs), in line with SEBI's ICDR Regulations. The pricing and allotment were approved by the QIP Committee, authorised by the company's Board of Directors at its meeting held on June marks Capri Global's first QIP in nearly a decade. The issue witnessed strong demand from both foreign and domestic institutional investors, including long-only funds, mutual funds, and insurance from Jain's 3P Investment and Kela's MKVentures, other notable participants in the offering included Quant Mutual Fund, Abakkus Asset Management, BlackRock, Societe Generale – ODI, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance , ICICI Lombard General Insurance, SBI General Insurance, HDFC Ergo General Insurance, PNB MetLife Insurance, and TATA read: Raamdeo Agrawal predicts 3 lakh Sensex target, multibagger strategy and 4 investment themes According to the company, the overwhelming response from long-term institutional investors is a testament to the market's confidence in Capri Global's business strategy, execution capabilities, and growth outlook. The funds raised through the QIP are expected to bolster the company's capital adequacy and support future expansion plans across its lending verticals.'The successful QIP marks a significant milestone in the Company's growth journey. The capital raised will enable us to capitalise on growth opportunities across key lending verticals, expand our geographical presence, invest in AI & data science capabilities and strengthen our capital base. This will also open up new avenues for us to diversify our borrowings and further solidify our liability franchise,' said Rajesh Sharma, Managing Director of Capri Global added, 'As we scale responsibly, our focus remains on driving inclusive credit access, higher productivity and efficiency while building a resilient portfolio. We are encouraged by the continued trust of our existing shareholders and welcome the new shareholders. We remain committed to deliver a robust financial performance and create long-term value for all our stakeholders."Capri Global Capital Ltd, which operates under the brand 'Capri Loans,' is a non-banking financial company (NBFC) engaged in offering credit to underserved segments, including MSMEs, affordable housing, and gold loans. The company has been expanding its footprint and diversifying its lending portfolio in recent of Capri Global Capital were trading flat at Rs 170.70 on the BSE around 1 pm.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
16-06-2025
- Business
- Time of India
Capri Global bags investment from Prashant Jain, Madhu Kela in Rs 2,000 cr QIP
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Ace investors Prashant Jain and Madhusudan Kela have invested in Capri Global Capital through their respective investment firms, joining a diverse pool of institutional participants in the company's recently concluded Rs 2,000-crore Qualified Institutions Placement (QIP).Jain's 3P Investment Managers, through its Category-III Alternative Investment Fund, invested Rs 150 crore in the financial services company. Meanwhile, MKVentures Capital , a non-banking finance firm promoted by Kela, also participated in the fundraising with an undisclosed investment comes as Capri Global announced the successful completion of its QIP on June company raised Rs 2,000 crore by issuing approximately 136.5 million equity shares to Qualified Institutional Buyers (QIBs), in line with SEBI's ICDR Regulations. The pricing and allotment were approved by the QIP Committee, authorised by the company's Board of Directors at its meeting held on June marks Capri Global's first QIP in nearly a decade. The issue witnessed strong demand from both foreign and domestic institutional investors, including long-only funds, mutual funds, and insurance from Jain's 3P Investment and Kela's MKVentures, other notable participants in the offering included Quant Mutual Fund, Abakkus Asset Management, BlackRock, Societe Generale – ODI, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance , ICICI Lombard General Insurance, SBI General Insurance, HDFC Ergo General Insurance, PNB MetLife Insurance, and TATA read: Raamdeo Agrawal predicts 3 lakh Sensex target, multibagger strategy and 4 investment themes According to the company, the overwhelming response from long-term institutional investors is a testament to the market's confidence in Capri Global's business strategy, execution capabilities, and growth outlook. The funds raised through the QIP are expected to bolster the company's capital adequacy and support future expansion plans across its lending verticals.'The successful QIP marks a significant milestone in the Company's growth journey. The capital raised will enable us to capitalise on growth opportunities across key lending verticals, expand our geographical presence, invest in AI & data science capabilities and strengthen our capital base. This will also open up new avenues for us to diversify our borrowings and further solidify our liability franchise,' said Rajesh Sharma, Managing Director of Capri Global added, 'As we scale responsibly, our focus remains on driving inclusive credit access, higher productivity and efficiency while building a resilient portfolio. We are encouraged by the continued trust of our existing shareholders and welcome the new shareholders. We remain committed to deliver a robust financial performance and create long-term value for all our stakeholders."Capri Global Capital Ltd, which operates under the brand 'Capri Loans,' is a non-banking financial company (NBFC) engaged in offering credit to underserved segments, including MSMEs, affordable housing, and gold loans. The company has been expanding its footprint and diversifying its lending portfolio in recent of Capri Global Capital were trading flat at Rs 170.70 on the BSE around 1 pm.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
