Latest news with #Financial
Economic Times
3 days ago
- Business
- Economic Times
HDB Financial IPO GMP signals 11% listing pop as Rs 12,500 crore offer nears launch
HDB Financial IPO: Strong grey market activity signals high investor interest ahead of the eagerly awaited IPO of the HDFC Bank-backed non-banking financial company. Over the past eight sessions, the Grey Market Premium (GMP) has been on an upward trend, with Friday's GMP continuing to rise. Tired of too many ads? Remove Ads Price Band Tired of too many ads? Remove Ads Retail and institutional appetite HDB Financial Services' Rs 12,500 crore initial public offering is drawing strong interest in the unofficial market, with the grey market premium (GMP) rising to Rs 83 on Friday morning, suggesting an estimated listing price of Rs 823, a gain of over 11% from the upper end of the price robust grey market activity reflects investor enthusiasm ahead of the much-anticipated public debut of the HDFC Bank-backed non-banking finance company. Based on the last 8 sessions' grey market activities, the GMP on Friday is trending upward. Although the highest GMP so far has touched Rs IPO is priced in the range of Rs 700 to Rs 740 per share. Investors can bid in lots of 20 shares, with the minimum investment for retail applicants set at Rs 14,000. To improve chances in the event of oversubscription, investors are advised to apply at the cut-off price, which takes the minimum investment to approximately Rs 14, non-institutional investors, the minimum application size for small non-institutional investors is 14 lots (280 shares), amounting to Rs 2,07,200, and for big non-institutional investors, it is 68 lots (1,360 shares), amounting to Rs 10,06, Financial Services' IPO will open for subscription on June 25 and close on June 27. The listing, tentatively scheduled for July 2 on both BSE and NSE, will mark the largest public offering so far in 2025 and the biggest since Hyundai Motor India's Rs 27,000 crore issue last offering comprises a Rs 10,000 crore offer for sale (OFS) by parent HDFC Bank and a fresh issue of Rs 2,500 crore. HDFC Bank currently holds a 94.6% stake in the company and is expected to significantly reduce its shareholding post-listing, in line with regulatory and capital optimisation IPO structure includes reserved quotas for HDFC Bank shareholders and employees.A consortium of global and domestic investment banks, including BofA Securities India, Goldman Sachs (India), Morgan Stanley India, JM Financial , and Motilal Oswal, are acting as book-running lead managers for the issue. MUFG Intime India (Link Intime) is the Financial is a major NBFC player focused on retail and small business borrowers across India. Its product portfolio includes personal loans, gold loans, vehicle loans, and loans against property, with a strong footprint in semi-urban and rural IPO comes at a time of buoyant investor sentiment. The Nifty 50 has rebounded from March lows, and liquidity remains ample after the Reserve Bank of India's recent policy stance. Analysts say the listing will be closely watched due to the HDFC Group's brand strength, the scale of the issue, and the long-term potential of the from the fresh equity portion will be used to augment capital adequacy and support future lending growth.
Business Wire
5 days ago
- Business
- Business Wire
Nidec Announces Change in the Scheduled Submission Date for the Securities Report
KYOTO, Japan--(BUSINESS WIRE)--Nidec Corporation (TOKYO:6594; OTC US: NJDCY) (the 'Company') announced in its "Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 [IFRS]" released on April 24, 2025, that the scheduled submission date for the 52nd Annual Securities Report was June 18, 2025. The Company hereby informs you that this submission will be postponed as described below. 1. Securities reports covered The 52nd Fiscal Year Securities Report (From April 1, 2024 to March 31, 2025) 2. Scheduled submission date for the financial results summary for the fiscal year ended March 2025 June 18, 2025 (Wednesday) 3. Reasons for changing the submission date As previously announced on May 29, 2025, we have not yet received the audit report from the accounting auditor on our consolidated financial statements. The following is an outline of the progress to date: The Company identified an issue concerning trade transactions at NIDEC FIR INTERNATIONAL S.R.L. (located in Italy, hereinafter "FIR"), one of the consolidated subsidiaries of the Company under Appliance, Commercial and Industrial Motors Business Unit of Appliance and Automotive Division. The Company has engaged a third-party expert, experienced in international trade and customs law, to investigate. The Company has recognized potentially erroneous declarations of country of origin for certain motors manufactured by FIR, which may have resulted in unpaid import tariffs. Based on the status report on the investigation received, the Company is proceeding with further internal investigation and consideration of this matter, in collaboration with the third-party expert. As a result, the Company has determined that, in relation to the impact on our consolidated financial statements, further audit by the accounting auditor will be required based on the results of the above investigation. The above internal investigations and examination of the impact on the consolidated financial statements and internal controls are ongoing, and the investigations required for the accounting auditor to complete the audit procedure have not been finalized. Consequently, the Company has determined that it will be difficult to issue the audited consolidated financial statements by June 18, 2025, and therefore has decided to postpone the submission of the securities report that was scheduled to be submitted on the same day. The new submission date will be announced promptly, taking the progress into consideration. [Reference] Company outline of NIDEC FIR INTERNATIONAL S.R.L. Address of headquarters: Via Roma, 19, 26041-Casalmaggiore (CR), Italy Business unit: Appliance, Commercial and Industrial Motors Business Unit of Appliance and Automotive Division Main products: Motors and actuators for industrial (construction and renewable energy), commercial (leisure and commercial refrigerators/freezers) and appliance (washing machines and dryers) use (AC, geared and brushless DC motors) and motor-related products (motor components and drive) Sales: 13,873 million yen (fiscal 2024) (Unaudited)
India Gazette
6 days ago
- Business
- India Gazette
NBFCs shifting funding strategy, tapping public deposits and bond markets for capital: Report
New Delhi [India] June 17 (ANI): India's Non-Banking Financial Companies (NBFCs) are moving away from traditional way of bank borrowings and increasingly turning to public deposits and domestic bond markets for substantial capital raising, according to a recent report by Deven Choksey Research. NBFCs provide financial services similar to those of banks, but they are not commercial schedule banks. They offer loans, investments, and other financial products, regulated by the Reserve Bank of India (RBI) but they do not accept traditional deposits like banks. NBFCs witnessed a robust year in financial year 2025 and grew faster than traditional banks in lending activity. NBFCs recorded a credit growth of 20 per cent, much higher than the 12 per cent growth seen in the banking sector. The report added that a big share of this growth came from the rising demand for gold loans, pushing the total loans given by NBFCs to Rs 24.5 trillion. The overall size of the NBFC sector also grew significantly, with total assets increasing by 20 per cent year-on-year (YoY) to Rs 28.2 trillion. Borrowings rose by 22 per cent YoY to Rs 19.9 trillion, showing that NBFCs were actively raising funds to support their growth. The report further highlighted that the profitability across the sector was mixed, with larger listed NBFCs seeing an 8 per cent rise in profits, but the microfinance institutions (MFI) segment saw a sharp 95 per cent decline in profits due to high levels of stress and increased provisioning. The report noted that NBFCs became slightly more efficient in FY25, their cost-to-income ratio improved slightly from 36.7 per cent in FY24 to 36.2 per cent. Asset quality of the NBFCs also improved a bit, with Gross Non-Performing Assets (NPA) improving by 10 basis points. However, the MFI segment reported a rise in loan defaults due to ongoing stress. In recent years, NBFCs have become important lenders to Micro, Small, and Medium Enterprises (MSMEs). From fiscal 2021 to 2024, NBFCs recorded a strong 32 per cent compound annual growth rate (CAGR) in credit to this segment. This is much higher than the growth seen in private banks (20.9 per cent) and public sector banks (10.4 per cent). As highlighted by the report, the NBFCs also dominate the micro loan against property (LAP) market, especially for loans below Rs 1 million, where they hold a 45 per cent market share, far ahead of private banks, which hold just over 25 per cent. (ANI)
Scoop
05-06-2025
- Business
- Scoop
Interim Financial Statements Of The Government Of New ZealandFor The Ten Months Ended 30 April 2025
Press Release – The Treasury The majority of the key fiscal indicators for the ten months ended 30 April 2025 were slightly better than forecast. The Governments main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit … Jayne Winfield, Chief Government Accountant The Interim Financial Statements of the Government of New Zealand for the ten months ended 30 April 2025 were released by the Treasury today. The April results are reported against forecasts based on the Budget Economic and Fiscal Update 2025 (BEFU 2025), published on 22 May 2025, and the results for the same period for the previous year. The majority of the key fiscal indicators for the ten months ended 30 April 2025 were slightly better than forecast. The Government's main operating indicator, the operating balance before gains and losses excluding ACC (OBEGALx), showed a deficit of $7.4 billion. This was $0.1 billion smaller than forecast. While the core Crown results were favourable to forecast, this was largely offset by the results of State-owned Enterprises. Net core Crown debt was in line with forecast at $184.6 billion, or 43.2% of GDP. Core Crown tax revenue, at $100.4 billion, was $0.7 billion (0.7%) higher than forecast. Corporate tax and other individuals' tax contributed $0.4 billion and $0.2 billion respectively to the above forecast result. Core Crown expenses, at $115.8 billion, were $0.1 billion (0.1%) below forecast. This variance is mostly timing in nature and was spread across a range of agencies. The OBEGALx was a deficit of $7.4 billion, $0.1 billion less than the forecast deficit. When including the revenue and expenses of ACC, the OBEGAL deficit was $11.7 billion, in line with the forecast deficit. The operating balance deficit of $6.7 billion was $2.8 billion higher than the forecast deficit. This reflected both the OBEGAL result and net unfavourable valuation movements. Net gains on financial instruments were $4.3 billion lower than forecast, driven by New Zealand Superannuation Fund (NZS Fund) and ACC's investment portfolios. This unfavourable variance was partly offset by net gains on non-financial instruments being $1.3 billion higher than the forecast loss. This was largely owing to the New Zealand Emissions Trading Scheme with net gains on the liability being $1.1 billion higher than the forecast loss. The core Crown residual cash deficit of $8.4 billion was $0.1 billion lower than forecast. While net core Crown operating cash outflows were $0.4 billion higher than forecast, net core Crown capital cash outflows were $0.5 billion lower than forecast. Net core Crown debt at $184.6 billion (43.2% of GDP) was in line with forecast. With core Crown residual cash broadly in line with forecast, this and minor movements in non-cash items contributed to the net core Crown debt result. Gross debt at $203.5 billion (47.7% of GDP) was $6.3 billion lower than forecast, largely owing to lower than forecast unsettled trades and issuances of Euro Commercial Paper. Net worth at $181.4 billion (42.5% of GDP) was $3.1 billion lower than forecast largely reflecting the year-to-date operating balance result.
Yahoo
04-06-2025
- Business
- Yahoo
Citigroup (C) Stock Falls Amid Market Uptick: What Investors Need to Know
Citigroup (C) closed at $76.40 in the latest trading session, marking a -0.17% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.01%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw an increase of 0.32%. The U.S. bank's shares have seen an increase of 10.16% over the last month, surpassing the Finance sector's gain of 3.54% and the S&P 500's gain of 5.2%. Investors will be eagerly watching for the performance of Citigroup in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 15, 2025. In that report, analysts expect Citigroup to post earnings of $1.71 per share. This would mark year-over-year growth of 12.5%. Our most recent consensus estimate is calling for quarterly revenue of $20.79 billion, up 3.23% from the year-ago period. C's full-year Zacks Consensus Estimates are calling for earnings of $7.32 per share and revenue of $83.72 billion. These results would represent year-over-year changes of +23.03% and +3.18%, respectively. Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Citigroup. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.46% upward. Citigroup is currently sporting a Zacks Rank of #3 (Hold). In the context of valuation, Citigroup is at present trading with a Forward P/E ratio of 10.46. For comparison, its industry has an average Forward P/E of 14.5, which means Citigroup is trading at a discount to the group. We can additionally observe that C currently boasts a PEG ratio of 0.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Investment Bank industry currently had an average PEG ratio of 1.24 as of yesterday's close. The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 26% of all 250+ industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. You can find more information on all of these metrics, and much more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Citigroup Inc. (C) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
