City Tata Financial News

BluPine Energy on Monday said it has secured Rs 239 crore financial assistance from Tata Capital. The amount will be utilised towards a solar power project in Chhattisgarh, the company said in a statement.

Hindalco Industries: Novelis Inc., a subsidiary of Hindalco Industries, has delayed its IPO due to market conditions. The company, which had planned to raise $810 million to $945 million, will reassess the offering’s timing.

Also Read: IPO Boom: 57% of SME issues saw over 100% subscription in 2024, HOAC Foods leads pack; check top performersAnalysts believe that the rise in IPO activity has been driven by the strong economic development, rising Indian stocks, and consistently exceeding expectations of company earnings, which encourages more companies to go public. The IPO market has benefited greatly as a consequence, and new –age companies like Tata Capital, Hexaware, Ola Electric, and Swiggy are lining up for their 2024–2025 public market debuts.“The primary market witnessed 30 mainboard IPOs till May this year.

IPO rush sets up India’s equity market for another record year“The surge in IPO activity is fuelled by soaring Indian stocks, robust economic growth, and corporate earnings consistently outpacing expectations, inspiring more companies to go public. As a result, IPO market has seen a significant boost, with large corporate houses and new –age businesses like Tata Capital, Hexaware, Ola Electric, and Swiggy gearing up for their public market debuts in 2024-25," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd.Vilas Transcore IPO opens for subscription on May 27, 2024, and closes on May 29, 2024.

When unexpected expenses come knocking, while your savings fall short, reaching out to a bank to seek personal loan can be a saviour. Choosing the right lender, therefore, is crucial to avoid high-interest rates that can make repayment burdensome and at times – unaffordable.

Tata Motors: The company reported a 222% surge in net profit to ₹17,407.2 crore in Q4FY24, driven by strong performance across all auto businesses. The company's total revenue rose 14.3% to ₹1.2 lakh crore. The board recommended a final dividend of ₹6 per ordinary share and ₹6.20 per ‘A’ ordinary share for FY24.

K2 Infragen opened for subscription earlier today and will close on April 3. The company aims to raise about Rs 40 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

₹9,756 on March 7 before undergoing a 38% correction, settling at ₹5,960 by the end of last week. This sharp decline over 10 days translated into a staggering loss of nearly ₹20,000 crore in market capitalization. Consequently, the company's market cap dwindled from ₹49,365 crore on March 7 to ₹30,155 crore within a span of two weeks.

A personal loan availed is to be repaid in equated monthly instalments (EMIs) and you can mandate the lender to directly debit the same through auto debit mandate or if you have an alternate bank account, then it can done through a NACH mandate. Normally this can include a few months to a few years in EMIs. Some banks allow you to prepay or foreclose your Personal Loan after the payment of at least one EMI. However, charges (and taxes) will be applicable for foreclosing a personal loan.

BluPine Energy on Wednesday said it has secured a loan of Rs 1,260 crore from Standard Chartered Bank and TATA Capital for its wind project in Gujarat. After completion, the 198 MW plant is expected to generate about 65 GWh (gigawatt hour) of wind energy annually, offsetting about 6 lakh tonne of CO2 emissions, the company said. «With the addition of this project, our cumulative solar and wind energy capacity in Gujarat will scale up to 750 MW...across 7 projects under GUVNL. Moreover, the overall renewable energy capacity will reach approximately 2.4 GW, with 730 MW currently operational,» Neerav Nanavaty, CEO of BluPine Energy, said. The electricity generated from this plant will be supplied to Gujarat Urja Vikas Nigam Ltd (GUVNL) under a Power Purchase Agreement (PPA) for 25 years from the scheduled commercial operation date.

Kesoram has completed the refinancing of its nearly Rs 1900 crore high-cost debt, yielding a benefit of almost 800 basis points in interest rates, a senior company official said on Thursday. The company borrowed approximately Rs 1900 crore in March 2021 from a group of investors in Non-Convertible Debentures (NCDs) and Optionally Convertible Debentures (OCDs) at an interest rate of close to 19 per cent. On Thursday, the company announced the redemption of the entire outstanding outstanding NCD amounting to Rs 1487 crore before maturity. OCDs were redeemed earlier, officials said. «We have refinanced the entire debt on our books. We have refinanced about Rs 1500 crore from Tata Capital group and another Rs 350 crore from Hero Finance,» Kesoram's whole-time director & CEO P Radhakrishnan told PTI.

Kesoram Industries, which is merging its cement business with UltraTech Cement, is looking to refinance the ₹1,500-crore debt borrowed at 20% from Goldman Sachs, Cerberus and Edelweiss, and is in talks with Tata Capital for it, two people aware of the development said. The company is looking for a one-year finance before the asset moves to UltraTech following regulatory clearances, they said, adding that Kesoram is looking to refinance the debt at 12-13%. Talks for the new loan could close by the end of this month, they added. «Kesoram is in talks with Tata Capital to raise debt as the 'make whole' for the existing debt will get over in March this year,» said one of the sources. «The loan will be used to refinance existing lenders and will help Kesoram reduce interest cost by as much as 7-8%.» «Make whole» is the call option on a bond given to an issuer to pay off the remaining debt.

Hubergroup India, a global printing inks and chemicals specialist, is in discussions with various lenders, including ICICI Bank, Axis Bank, HDFC Bank, Tata Capital, Axis Finance, and ICICI Prudential Credit Fund, to borrow ₹1,500 crore in working capital, amortising funds, and bullet loans at costs ranging from 9-14%. Part of the funds will be used to buy out businesses from its German parent. «Hubergroup India, one of the largest in manufacturing globally, is borrowing money to buy out many businesses from the German parent so that the Indian entity will become the flagship entity for the group,» a source said. While talks with ICICI Bank, HDFC Bank, and Axis Bank are ongoing, the finalisation is pending.

Life Insurance Corp (LIC) is stepping up activity in a space where banks are wary of a hawkeyed regulator and higher capital needs, with the country's biggest institutional investor in tradable securities recently buying debt issued by highly rated non-banking financial companies and corporates, including Reliance Industries. LIC subscribed to a lion's share of Reliance's ₹20,000-crore bond sale last month, while also taking up a major portion of a bond sale earlier this week by Tata Capital Financial Services (TCFSL), a subsidiary of Tata Capital, sources aware of the developments told ET. LIC had bought ₹13,000 crore of RIL's bonds, the sources said. The insurance sector giant is also said to have deployed funds in a September bond sale by another highly-rated NBFC — L&T Finance, the sources said. An email sent to LIC did not receive a response by the time of publication.

₹3 lakh recently for his mother Preeti Khona’s dental treatment. That sum covered the costs of five dental implants and three dental bridges and crowns, all done in a span of two months and several sittings. Delhi-based Ganesh Jha says he paid ₹75,000 for dental implants at a clinic in his hometown, Chandigarh.

Tata Consultancy Services Ltd went public in 2004. A successful IPO of Tata Technologies may encourage the conglomerate to take more group companies public, two investment bankers said on the condition of anonymity. Both Tata Sons and Tata Capital were classified by the Reserve Bank of India (RBI) in September 2022 as “upper-layer" NBFCs, which requires them to go public three years from the date of classification.

₹400 to ₹425 in the unlisted market, a report by Economic Times stated. The company, now valued at ₹1.5 lakh crore on the platform for unlisted stocks, is the third biggest non-bank lender by market capitalisation - just after the Bajaj twins, it highlighted. Bajaj Finance currently has a market capitalisation of ₹4.47 lakh crore, whereas Bajaj Finserv and Jio Financial Services command market capitalisations of ₹2.53 lakh crore and ₹1.37 lakh crore, respectively, added ET report.

One 97 Communications, the parent of Paytm, expects overall credit business to grow at an average annual rate of 40%-50% over the next two to three fiscal years even as it continues a cautious approach to the personal loan vertical, president and chief operating officer Bhavesh Gupta said on Saturday. The Noida-headquartered company is looking to add three new lending partners to its platform over the next two quarters, which may include a domestic bank, Gupta said on an analysts’ call to discuss September quarter earnings.

₹83.3 crore) in a mix of primary and secondary investment as part of its funding round from Tata Capital Healthcare Fund, the healthcare-focused arm of private equity firm Tata Capital Ltd. The Mumbai-based healthcare chain will use the fresh money to expand its dialysis services across the country. Notably, this is the second transaction in the nephrology space in the last month.

Tata Capital is planning an IPO for 2025. Tata Capital is currently restructuring its business and expanding its board as part of the efforts, report Anirudh Laskar, Ranjani Raghavan, and Sneha Shah. Government officials met with alternative investment funds, startup founders and fund managers last week to understand why foreign investments had fallen ahead of the election cycle.

Tata Group's Tata Capital Ltd is restructuring its operations and expanding its board as part of the Group's plan to take the non-bank lender public, according to the report. “The Tata group is targeting an IPO for Tata Capital in 2025. The board has been expanded, and mergers of some of the group firms under Tata Capital have been done as a part of the IPO plan," Mint reported citing sources. The group is reportedly eyeing a similar listing to that of Mukesh Ambani's Jio Financial Services Ltd last month. “Currently, it is a work in progress, with the IPO process to begin in March 2024 with the appointment of investment bankers," company sources quoted in the report said. As per the RBI guidelines, an ‘upper-layer’ NBFC must list within three years of being notified.