Latest news with #WarburgPincusLLC
Business Standard
12-05-2025
- Business
- Business Standard
Fusion Finance concludes its rights issue of Rs 800 cr
Fusion Finance announced the successful completion of its Rs. 800 crore Rights Issue, which was subscribed 1.5x. The offering, launched on 15 April 2025, witnessed robust participation from existing institutional investors, including promoters Honey Rose Investment Ltd, an affiliate of Warburg Pincus LLC, and Creation Investments Fusion LLC, underscoring investors' conviction in Fusion's growth trajectory and business fundamentals. The Rights Issue comprised up to 6,10,58,392 partly paid-up equity shares at a price of Rs.131 per Rights Equity Share (including a premium of Rs.121), aggregating up to Rs. 799.86 crore. The proceeds from the Rights Issue will enhance the Company's capital adequacy, further strengthening its position as one of the most well-capitalized entities in the Indian microfinance sector.
Time of India
12-05-2025
- Business
- Time of India
Fusion Finance raises Rs 800 crore via rights issue
Warburg Pincus-backed Fusion Finance has raised ₹800 crore through a rights issue, with strong participation from existing institutional investors, including promoter Honey Rose Investment Ltd (an affiliate of Warburg Pincus LLC) and Creation Investments Fusion LLC. The company said the additional capital will be used to strengthen its balance sheet, enabling it to seize emerging opportunities and continue delivering long-term value to stakeholders. In a filing with the stock exchanges, Fusion Finance said the rights issue—launched on April 15, 2025—received robust backing from institutional shareholders, reaffirming investor confidence in the company's growth trajectory and business fundamentals. Shares of the Delhi-based non-banking finance company surged 8.37% intraday on Monday to ₹166. The rights issue comprised up to 6.11 crore partially paid-up equity shares at ₹131 per share (including a ₹121 premium), aggregating to ₹799.86 crore. Proceeds will be used to bolster the company's capital adequacy, further strengthening its position in India's competitive microfinance sector, the company said in a May 12 exchange filing. Live Events ETMarkets WhatsApp channel )
Business Standard
12-05-2025
- Business
- Business Standard
Fusion Finance concludes its rights issue with fund raise of Rs 800 cr
Fusion Finance announced the successful completion of its Rs. 800 crore Rights Issue, which was subscribed 1.5x. The offering, launched on 15 April 2025, witnessed robust participation from existing institutional investors, including promoters Honey Rose Investment Ltd, an affiliate of Warburg Pincus LLC, and Creation Investments Fusion LLC, underscoring investors' conviction in Fusion's growth trajectory and business fundamentals. The Rights Issue comprised up to 6,10,58,392 partly paid-up equity shares at a price of Rs.131 per Rights Equity Share (including a premium of Rs.121), aggregating up to Rs. 799.86 crore. The proceeds from the Rights Issue will enhance the Company's capital adequacy, further strengthening its position as one of the most well-capitalized entities in the Indian microfinance sector.
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Business Standard
27-04-2025
- Business
- Business Standard
Axis Bank plans to raise Rs 20,000 cr through stake sale, debt issuance
Axis Bank Ltd plans to raise Rs 20,000 crore ($2.3 billion) through a share sale as part of a bigger capital raise that includes debt. The Mumbai-based bank plans to raise Rs 35,000 crore ($4.1 billion) through local rupee bonds or foreign currency bonds, Additional Tier-1 bonds, infrastructure bonds and other debt, the bank said in an exchange filing Thursday. The equity funds will raised through sale of local shares or depository receipts, either by way of institutional placement or preferential allotment, it said. The fund raise comes at a time when a gauge of Indian lenders' shares is near its record high, driven by investors' bullishness due to the sector's relative insulation from tariff-related turmoil. Last week, IDFC First Bank Ltd. approved a plan to raise 75 billion rupees ($877 million) from Warburg Pincus LLC and Abu Dhabi Investment Authority. The operating environment is improving, which would help drive growth and profits this financial year, Amitabh Chaudhry, the bank's chief executive said during a media call on Thursday. 'Corporate, secured retail and small-medium-enterprise loans are holding up well. We will stay focused on deposit quality, cost and growth,' he said. Axis Bank's deposit base rose 10% on year to Rs 11.73 trillion and advances grew 8% to Rs 10.41 trillioN, underpinned by its corporate and small-medium-enterprise loan books. Gross non-performing assets stood at 1.28%, compared with an estimate of 1.51%.
Time of India
26-04-2025
- Business
- Time of India
IDFC First Bank posts Rs 1,525 Crore profit in FY25, approves Rs 7,500 crore capital raise
IDFC First Bank on Saturday reported a net profit of Rs 1,525 crore for the financial year ended March 31, 2025, marking a 48.4% decline from Rs 2,954 crore in FY24, mainly due to stress in the microfinance portfolio . For the fourth quarter (Q4 FY25), the bank reported a net profit of Rs 304 crore, down from Rs 724 crore in Q4 FY24. Net Interest Income (NII) for Q4 stood at Rs 4,907 crore, a 9.8% increase year-on-year. Fee and other income for the quarter rose 5.7% YoY to Rs 1,702 crore. Core operating income in Q4 grew 8.7% YoY to Rs 6,609 crore, while operating expenses rose 12.2% to Rs 4,991 crore. Core operating profit (excluding trading gains) for Q4 stood at Rs 1,618 crore, slightly down from Rs 1,632 crore in the year-ago period. Customer deposits rose 25.2% YoY to Rs 2,42,543 crore, with retail deposits growing 26.4% to Rs 1,91,268 crore. The CASA ratio was 46.9%. Loans and advances increased by 20.4% YoY to Rs 2,41,926 crore. Gross NPA improved to 1.87% as of March 31, 2025, from 1.94% in the previous quarter, while Net NPA inched up to 0.53%. The Provision Coverage Ratio (PCR) stood at 72.3%. Provisions for the year amounted to Rs 5,515 crore, largely due to higher slippages in the microfinance segment. The board has approved a capital raise of Rs 7,500 crore through compulsorily convertible preference shares to Currant Sea Investments B.V. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now (an affiliate of Warburg Pincus LLC) and Platinum Invictus B 2025 RSC Ltd. (a wholly owned subsidiary of the private equity division of Abu Dhabi Investment Authority), subject to shareholder and regulatory approvals. It also declared a dividend of Rs 0.25 per share. Managing Director and CEO V. Vaidyanathan said, 'Our customer deposits grew well at 25% YoY and the CASA ratio continues to remain strong at 46.9%, reflecting the strength of our deposit franchise. Our funded asset book grew by 20.4%.' He added, 'An affiliate entity of Warburg Pincus LLC and a wholly owned subsidiary of the private equity division of ADIA have committed to invest ~Rs 7,500 crore in the Bank, which will further strengthen our Capital Adequacy Ratio and support our next phase of growth.' Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
