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IIFL Home Finance to raise nearly ₹3,000 crore through bond issue: Report | Mint

Livemint

Livemint · 1y ago

IIFL Home Finance to raise nearly ₹3,000 crore through bond issue: Report | Mint

- IIFL Home Finance plans to raise approximately ₹3,000 crore through a public issue of bonds. - The lead managers for the bond issue are Trust Investment Advisors and IIFL Securities, both rated AA by Crisil and India Ratings. - The details of the bond issue have not been finalized yet. - IIFL Finance is aiming to raise ₹10,000 crore through debt between October and March to recover from the RBI's ban on issuing gold loans. - The RBI recently lifted the ban on IIFL Finance's gold loan business, resulting in a surge of over 12% in the company's shares. - HSBC upgraded IIFL Finance stock to 'hold' from 'reduce' after the RBI's decision, with a higher target price of ₹540, and increased its earnings per share estimates.

Related News

Bajaj Housing Finance files papers for Rs 7,000-cr IPO

YourStory

YourStory · 1y ago

Bajaj Housing Finance files papers for Rs 7,000-cr IPO

Bajaj Housing Finance intends to raise Rs 7,000 crore through an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 4,000 crore and a sale of equity shares worth Rs 3,000 crore by its parent company, Bajaj Finance. This move is in compliance with the Reserve Bank of India's regulations, which require non-banking finance companies to be listed on stock exchanges by September 2025. The funds raised will be used to strengthen Bajaj Housing Finance's capital base. The company offers various mortgage products, such as home loans and loans against property.

Warburg Pincus-backed Truhome Finance files DRHP for Rs 3,000 Cr IPO

Entrackr

Entrackr · 1d ago

Warburg Pincus-backed Truhome Finance files DRHP for Rs 3,000 Cr IPO

Warburg Pincus-backed Truhome Finance files DRHP for Rs 3,000 Cr IPO Affordable housing finance company Truhome Finance has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India to raise Rs 3,000 crore through an initial public offering. The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,500 crore and an offer for sale (OFS) of shares worth Rs 1,500 crore by promoter selling shareholder Mango Crest Investment Limited. The proceeds from the fresh issue will be used to ramp up the company’s capital base, support future lending requirements, and meet regulatory capital adequacy norms. Formerly known as Shriram Housing Finance Limited, the company was acquired in December 2024 by global private equity firm Warburg Pincus. Founded in 2010, Truhome Finance focuses on affordable housing loans and other secured lending products including loans against property. As of December 31, 2025, the company claimed assets under management (AUM) of Rs 21,124 crore. Housing loans account for about 57.37% of its portfolio, followed by loans against property at 39.22%. The company operates through a distribution network of 216 branches across 19 states and union territories. Its sourcing network includes more than 3,000 in-house sales personnel, 6,600 connectors, and 821 direct selling agents. For the nine months ended December 2025, Truhome Finance reported a profit after tax of Rs 333.53 crore. Its gross stage-3 assets stood at 1.60% while net stage-3 assets were at 1.09% during the same period. The company recently appointed former State Bank of India chairman Dinesh Kumar Khara as its chairperson. The company is led by managing director and CEO Ravi Subramanian. JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital are the book-running lead managers for the issue.

Amit Jain-led CarDekho in talks for a ₹4,000-crore IPO: Report

Inshorts · 1y ago

Amit Jain-led CarDekho in talks for a ₹4,000-crore IPO: Report

CarDekho is planning to raise ₹3,000 crore-₹4,000 crore through an initial public offering (IPO) next year and is in talks with investment banks for the same, Moneycontrol reported. The IPO will comprise a fresh issue of shares as well as an offer-for-sale, the report added. CarDekho was co-founded by brothers Amit Jain and Anurag Jain in 2008.

IIFL Home's CEO Ratra on growth drivers, high cost of funds, IPO plans and more

VCCircle

VCCircle · 1y ago

IIFL Home's CEO Ratra on growth drivers, high cost of funds, IPO plans and more

IIFL Home Finance, a subsidiary of IIFL Finance, has experienced a 50% year-on-year increase in assets under management to Rs 35,975 crore in the first quarter of FY25. This growth follows the acquisition of a 20% stake in the company by the Abu Dhabi Investment Authority (ADIA), the UAE's largest sovereign wealth fund. Monu Ratra, CEO of IIFL Home Finance, discusses the company's growth drivers, challenges related to high cost of funds, and potential IPO plans.

Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint

Livemint

Livemint · 1y ago

Reliance Infrastructure plans to raise ₹6,000 crore via share sales | Mint

Reliance Infrastructure plans to raise up to ₹6,014 crore through a share sale and convertible warrants. This comes after the company settled its arbitration dispute with Adani Group over power distribution and a loan dispute with CFM Asset Reconstruction. The company's board has approved a preferential issue to raise ₹3,014 crore and a qualified institutional placement (QIP) to raise up to ₹3,000 crore. The funds will be used for business expansion, investment in subsidiaries, and meeting long-term working capital needs. The company's net worth is expected to increase from ₹9,000 crore to over ₹12,000 crore.

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

IndianStartupNews

IndianStartupNews · 2y ago

Bajaj Finserv-owned Bajaj Finance raises Rs 10,000 crore via QIP, preferential issue

Bajaj Finance, a subsidiary of Bajaj Finserv, plans to raise Rs 10,000 crore through a combination of Qualified Institutions Placement (QIP) and Preferential Issue (PI). The company will raise up to Rs 8,800 crore through equity shares via QIP and an additional Rs 1,200 crore through a preferential issue of warrants. The funds will be used for business expansion and to strengthen the company's capital base. After the preferential issue, Bajaj Finserv's holding in Bajaj Finance will increase to 52.57%.

Axis Bank won't infuse more capital into NBFC; it will tap market

Economic Times

Economic Times · 8m ago

Axis Bank won't infuse more capital into NBFC; it will tap market

Axis Bank has pledged to the Reserve Bank of India that it will not inject new capital into Axis Finance, its finance company. Instead, Axis Finance plans to raise ₹3,000 crore through an IPO. This move aligns with RBI's guidelines, which discourage banks from overlapping business operations with their subsidiaries. Axis Finance aims to raise market capital without involving Axis Bank, ensuring compliance with regulatory directives while pursuing growth strategies.

Brookfield-backed Data InvIT raises nearly $1 bn in rare bond deal to fund ATC India purchase

VCCircle

VCCircle · 1y ago

Brookfield-backed Data InvIT raises nearly $1 bn in rare bond deal to fund ATC India purchase

Brookfield-backed Data Infrastructure Trust, an Indian infrastructure investment trust (InvIT), has raised $941 million through rupee bonds to finance the acquisition of American Tower Corp's (ATC) local assets. The bond offering is open to foreign investors only, as it is structured as a downstream investment. The two series of bonds, maturing in five years, have a quarterly interest rate of 9.99%. Alongside the bond issue, Data Infrastructure Trust plans to raise additional funds through bank loans and equity to complete the ATC India purchase.

HUDCO plans to raise up to Rs 3,000 cr through debentures

Economic Times

Economic Times · 6m ago

HUDCO plans to raise up to Rs 3,000 cr through debentures

HUDCO plans to raise up to Rs 3,000 crore by issuing non-convertible debentures. The Board of Directors had earlier approved raising up to Rs 65,000 crore through bonds/debentures by 2025-26. The Bond Allotment Committee will consider the issuance of unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs. HUDCO, a public sector enterprise in housing and infrastructure, reported a 13% increase in consolidated net profit for the first quarter of the fiscal year.

Fairfax-backed IIFL Finance to raise $152 mn via share sale amid ban on gold loans

VCCircle

VCCircle · 1y ago

Fairfax-backed IIFL Finance to raise $152 mn via share sale amid ban on gold loans

Indian non-bank lender IIFL Finance plans to raise INR 12.72 billion ($152 million) through a share sale, as it looks to strengthen its capital base following a recent ban on offering gold loans by the Reserve Bank of India. The company had previously announced plans for a rights issue worth INR 15 billion, but the final amount was not confirmed. IIFL Finance's stock has dropped 30% since the ban was imposed. The shares will be sold at a 29% discount to the last closing price of INR 300 each. Shareholders will receive one rights share for every nine shares they hold.

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