Latest news with #NBFC
Time of India
3 hours ago
- Business
- Time of India
ATS Infrastructure repays ₹190 crore SWAMIH investment fund ahead of time
NEW DELHI: ATS Infrastructure has repaid a total of ₹190 crore to Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I, comprising ₹133 crore in principal and ₹57 crore in interest, for its residential project ATS Marigold on the Dwarka Expressway in Gurugram . The project had faced construction delays due to the NBFC crisis in 2018 and disruptions during the COVID-19 pandemic. It was revived through last-mile funding provided by the government-backed stress resolution fund. The project is now fully completed, with all six towers having received occupation certificates (OCs) from the authorities. The fund entered in February 2021, when the project had nearly 4.5 lakh sq ft of unsold inventory. The average price point at the time ranged between ₹6,000–₹6,500 per sq ft. As of mid-2025, all six towers in the project, comprising 422 homes, have received OCs, with over 150 families residing in the project. Current market prices in the project are reported in the range of ₹13,500 - ₹15,000 per sq ft.
News18
13 hours ago
- Business
- News18
Laxmi India Finance IPO subscribed 1.85 times
Agency: Last Updated: July 31, 2025, 19:00 IST Representational image (Image: News18) New Delhi, Jul 31 (PTI) The initial public offering of NBFC player Laxmi India Finance Ltd got subscribed 1.85 times on the closing day of the share sale on Thursday. The initial share sale received bids for 2,09,59,744 shares against 1,13,12,816 shares on offer, according to NSE data. The quota for retail individual investors got subscribed 2.19 times while the portion for non-institutional investors received 1.83 times subscription. Qualified institutional buyers (QIBs) part got subscribed 1.30 times. Laxmi India Finance Ltd on Monday raised over Rs 75 crore from anchor investors. The issue has a price band of Rs 150-158 per share. The Jaipur-based company's IPO is a combination of fresh issue of 1.04 crore equity shares and an offer for sale of 56.38 lakh shares by promoters. Overall, the IPO size is pegged at Rs 254.26 crore at the upper end of the price band. Proceeds from the fresh issue will be used to shore up its capital base to meet future capital requirements towards onward lending and for general corporate purposes. Laxmi India Finance, a non-deposit-taking NBFC, offers a diverse product portfolio, including MSME (micro, small and medium enterprises) loans, vehicle loans, construction loans, and other lending solutions to customers. Swipe Left For Next Video View all Its operational network spans across 158 branches in rural, semi-urban, and urban areas in Rajasthan, Gujarat, Madhya Pradesh, Chhattisgarh, and Uttar Pradesh as of March 2025. PL Capital Markets is the sole book running lead manager to the IPO. PTI SUM TRB (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments News agency-feeds Laxmi India Finance IPO subscribed 1.85 times Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Read More
Business Standard
14 hours ago
- Business
- Business Standard
Laxmi India Finance IPO subscribed 1.85 times
The offer received bids for 2.09 crore shares as against 1.13 crore shares on offer. The initial public offer of Laxmi India Finance received bids for 2,09,59,744 shares as against 1,13,12,816 shares on offer, according to stock exchange data at 17:30 IST on Thursday (31 July 2025). The issue was subscribed 1.85 times. The issue opened for bidding on 29 July 2025 and it will close on 31 July 2025. The price band of the IPO is fixed between Rs 150 and 158 per share. An investor can bid for a minimum of 94 equity shares and in multiples thereof. The initial public offer (IPO) consists of fresh issue of 1.045 crore equity shares to raise Rs 156.80 crore at the lower band of Rs 150 per share (face value Rs 5 per share) and Rs 165.17 crore at the upper band of Rs 158 per share. The issue also has offer for sale (OFS) of 56.39 lakh equity shares from promoter and promoter group to raise Rs 89.09 crore at upper price band. The promoter shareholding will decline to 60.5% post- IPO from 89.1% pre-IPO. The net proceeds from the fresh issue will be used for augmenting the capital base to meet future capital requirements. The issue will bring the benefits of listing the equity shares on the stock exchanges, including enhancing brand image among existing and potential customers and creation of a public market for the equity shares in India. Laxmi India Finance, incorporated in 1996, is a non-deposit taking NBFC focused on serving underserved customers in rural, semi-urban, and urban areas across five states. Its loan portfolio includes MSME, vehicle, and construction loans, with MSME loans contributing over 76% of its Rs 1,277 crore AUM as of March 2025. The company operates 158 branches and serves over 35,000 customers. With a capital adequacy ratio of 20.80% and improved credit rating of A- (Positive) from Acuite, it leverages technology across operations and maintains a strong risk management framework. Promoted by Deepak Baid, Laxmi India has recorded robust growth with a two-year AUM CAGR of 36%. Ahead of the IPO, Laxmi India Finance on Monday, 28 July 2025, raised Rs 5 crore from anchor investors. The board allotted 3.16 lakh shares at Rs 158 each to 11 anchor investors. The firm reported a consolidated net profit of Rs 36.01 crore and sales of Rs 245.71 crore for the twelve months ended on 31 March 2025.
Indian Express
16 hours ago
- Business
- Indian Express
ICL Fincorp's New NCD Issue Opens on 31st July 2025, Offering Effective Yield up to 12.62%
ICL Fincorp is proud to announce the launch of its latest public issue of Secured Redeemable Non-Convertible Debentures (NCDs), opening on 31st July 2025. With an effective yield of up to 12.62%, this offering presents an attractive and secure investment opportunity for those seeking flexible tenures. Following the remarkable response to our previous NCD issues, which were oversubscribed, we are truly honoured by the trust and confidence placed in us by our valued investors. This continued support inspires us to deliver even more robust financial solutions tailored to the evolving needs of our customers. The NCD issue will remain open until 13th August 2025 and is rated CRISIL BBB- /STABLE. Each NCD carries a face value of ₹1,000, and the issue offers 10 schemes with ten options (10 ISINs), with interest rates ranging from 10.50% to 12.00%. The minimum application amount is ₹10,000, making it accessible to a broad spectrum of investors. Proceeds from this issue will be strategically deployed to support ICL Fincorp's growth initiatives and further enhance the quality of services offered to our customers and stakeholders across India. This step reaffirms our commitment to delivering reliable, innovative and customer-centric financial solutions. With a legacy of 34 years, ICL Fincorp continues to serve as a trusted financial partner under the visionary leadership of CMD, Adv. K.G. Anilkumar. Our growing presence spans 9 states – Kerala, Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Odisha, Gujarat, and West Bengal – as we move steadily towards establishing a pan-India footprint. The acquisition of Salem Erode Investments, a BSE-listed NBFC with a 93-year history in Tamil Nadu, has further reinforced our position in the financial sector. In addition, ICL Fincorp has acquired Laneseda Vanijya Pvt. Ltd., a Kolkata-based NBFC established in 1995 and known for its legacy of trust, transparency and customer-centric financial services. ICL Fincorp offers a comprehensive portfolio of services, including Gold Loans, Hire Purchase Loans and Business Loans. The ICL Group has also diversified into sectors such as travel, fashion, diagnostics and charitable initiatives. Under the joint leadership of CMD Adv. K.G. Anil Kumar and Mrs. Uma Anilkumar, Whole-time Director & CEO, ICL Fincorp, continues to operate in compliance with the Reserve Bank of India's standards, while earning the enduring trust of customers. As we unveil this new NCD issue, we warmly invite you to be a part of our journey towards financial growth, security and long-term value. Disclaimer This content is sponsored and does not reflect the views or opinions of IE Online Media Services Pvt Ltd. No journalist is involved in creating sponsored material and it does not imply any endorsement whatsoever by the editorial team. IE Online Media Services takes no responsibility for the content that appears in sponsored articles and the consequences thereof, directly, indirectly or in any manner. Viewer discretion is advised.
&w=3840&q=100)
Business Standard
17 hours ago
- Business
- Business Standard
IIFL Finance stock tanks 5%; Motilal Oswal comments on Q1 numbers
IIFL Finance share price today: Shares of non-banking finance company (NBFC), IIFL Finance, declined 4.7 per cent on Thursday, July 31, 2025, hitting an intraday low of ₹479.90 after the firm reported its Q1 earnings. At 01:40 PM, IIFL Finance shares were trading at ₹488.95, down nearly 3 per cent on the National Stock Exchange. In comparison, Nifty50 was trading in green territory, up by 81 points or 0.33 per cent, quoting 24,936.75. The total market capitalisation of the company stood at ₹20,776.98 crore. In the last 3-month period, the shares of the NBFC firm surged up 40.76 per cent. In comparison, the NSE Nifty 50 index was up 2.2 per cent in the same period. IIFL Finance Q1FY26 earnings The company's total revenue from operations for the quarter ended June 30, 2025, stood at ₹2,952.83 crore, up 12 per cent from ₹2,621.02 crore recorded in the year-ago period. Consolidated net profit figure took a hit and declined 19 per cent year-on-year (YoY) during the quarter under review to ₹274.17 crore from ₹338.16 crore recorded in the corresponding period of the previous fiscal year. IIFLs overall assets under management (AUM) stood at ₹83,889 crore in Q1FY26. On the asset quality front, the company's gross non-performing assets (NPA) stood at 2.3 per cent in Q1FY26, marginally up by 12 basis points (bps) from 2.2 per cent recorded in the previous quarter (Q4FY25). Similarly, net non-performing assets for the June quarter increased by 9 bps to 1.1 per cent, sequentially. IIFL Finance's net interest income (NII) stood at 976.5 crore in Q1FY26, down 3 per cent from ₹1,005 reported in Q1FY25. The company's home loan AUM grew 14 per cent Y-o-Y in the June quarter, whereas MSME loan AUM rose 13 per cent during the same period. Interestingly, gold loan AUM surged by 85 per cent Y-o-Y. 'The year has started on a strong footing both on the top line and bottom line with the flagship business of gold showing smart AUM growth of 30 per cent Q-o-Q supported by healthy LTV, improving yield and best in class asset quality. We continue to remain cautious on the MSME and MFI space given the current headwinds and would retain our focus on further strengthening the credit, recovery and collection process in this space," said Kapish Jain, group chief financial officer (CFO) of the company. Brokerage view on IIFL Finance - Motilal Oswal Financial Services While the recent quarterly earnings were weak, marked by deteriorating asset quality, gold loan growth remains the only bright spot for IIFL Finance, as per Motilal Oswal Financial Services. The stock is currently trading at 1.3x FY27E price-to-book value and 9x PE. That apart, loan growth across all other segments remained sluggish. "IIFL reported an operationally weak quarter. Very strong growth in gold loans being the only positive. Loan growth remained tepid across all other segments. The company faced asset quality pressures in its MFI, unsecured business loans, and micro-LAP portfolios, which resulted in elevated credit costs. Additionally, NIMs declined further, potentially impacted by interest income reversals on fresh slippages in the quarter," the brokerage firm noted in its first-cut market note, while maintaining a 'Buy' rating on the stock (subject to review post the earnings call).
