Latest news with #OFS
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Business Standard
14 hours ago
- Business
- Business Standard
HDFC Bank may pocket ₹9,373-cr profit from HDB Financial Services IPO
HDB Financial Services IPO: India's largest private sector lender, HDFC Bank, is set to gain a whopping ₹9,373 crore profit from the Initial Public Offering (IPO) of its non-banking financial company (NBFC) arm, HDB Financial Services, scheduled to open on June 25, 2025. Notably, the HDB Financial Services IPO is slated to be the largest public offering in India's NBFC sector. That said, the Red Herring Prospectus (RHP) filed by the company reveals that the offering comprises a fresh equity issuance worth ₹2,500 crore, alongside an offer for sale (OFS) in which HDFC Bank will divest part of its stake (135.13 million equity shares) valued at ₹10,000 crore. The price band for the HDB Financial Services IPO has been set between ₹700 and ₹740 per share. If the public issue is fully subscribed at the upper end of the range, HDFC Bank stands to raise ₹10,000 crore from the OFS. Meanwhile, HDFC Bank's average acquisition cost for the shares is ₹46.4 per share, bringing the total acquisition cost for the OFS shares to approximately ₹627 crore, according to the RHP. Thus, the transaction is expected to generate a profit of approximately ₹9,373 crore for HDFC Bank, including payable taxes, if applicable. Currently, HDFC Bank holds a 94.3 per cent stake in HDB Financial Services, which is anticipated to reduce to around 70 per cent post-IPO. Despite the reduction in ownership, HDB Financial Services will remain a subsidiary of HDFC Bank. HDB Financial Services IPO details The public offering of HDB Financial Services will remain available for subscription from Wednesday, June 25 - Friday, June 27. HDB Financial Services has set the price band ₹700-740 per share, with a lot size of 20 shares. A retail investor would require ₹14,800 to bid for one lot or 20 shares of HDB Financial Services IPO. Meanwhile, for a maximum bid of under ₹200,000, retail investors can bid for 260 shares, or 13 lots, in this IPO. HDB Financial Services IPO grey market premium (GMP) today The unlisted shares of HDB Financial Services are commanding a solid premium in the grey markets on Friday. According to sources tracking unofficial market activities, the unlisted shares of HDB Financial Services were trading at ₹840 per share, reflecting a grey market premium of ₹100 or 13.51 percent over the upper end of the issue price. HDB Financial Services IPO allotment date, listing date Following the closure of the subscription window, the basis of allotment of HDB Financial Services IPO shares is expected to be finalized on Monday, June 30. The successful allottees will receive the company's shares in their demat accounts on Tuesday, July 1. Shares of HDB Financial Services are slated to make their D-Street debut by listing at BSE and NSE tentatively on Wednesday, July 2. About HDB Financial Services HDB Financial Services, a subsidiary of HDFC Bank, is one of the leading, diversified retail-focused NBFCs in India in terms of Total Gross Loan Book size, according to the CRISIL Report. Classified as an Upper Layer NBFC (NBFC-UL) by the Reserve Bank of India (RBI), the company operates through three key business verticals—Enterprise Lending, Asset Finance, and Consumer Finance. HDB Financial Services also provides business process outsourcing services, including back-office support, collections, and sales support services to its promoter.
Time of India
a day ago
- Business
- Time of India
Capillary Technologies files IPO papers; aims to raise Rs 430 crore
Capillary Technologies India has filed for an IPO comprising a Rs 430 crore fresh issue and an OFS of 1.83 crore shares. Funds will support cloud infrastructure, R&D, and acquisitions. Those selling shares in the OFS include Capillary Technologies International Pte Ltd, Ronal Holdings LLC, Trudy Holdings, and Filter Capital India Fund I. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads SaaS firm Capillary Technologies India has filed preliminary papers with markets regulator Sebi to seek approval to raise funds through an initial public offering (IPO).The IPO comprises a fresh issue of shares worth Rs 430 crore and an offer for sale (OFS) of 1.83 crore shares by existing shareholders, according to the draft red herring prospectus (DRHP) on selling shares in the OFS include Capillary Technologies International Pte Ltd, Ronal Holdings LLC, Trudy Holdings, and Filter Capital India Fund from its fresh issuance worth Rs 120 crore will be utilised for funding the company's cloud infrastructure cost; Rs 151.54 crore for investment in research, designing, and development of its products and platform; and Rs 10.32 crore for investment in the purchase of computer systems for its proceeds will be used for funding inorganic growth through unidentified acquisitions and general corporate in December 2021, the company had filed its IPO papers with Sebi. However, it did not get the Technologies India offers artificial intelligence (AI)-based cloud-native Software-as-a-Service (SaaS) products and solutions primarily to enterprise in India, Capillary has a significant global footprint with offices in locations across the US, the UK, the UAE, and other Asian countries. It supports over 390 brands in more than 45 countries, as of March 31, the financial front, Capillary Technologies' revenue from operations increased by 14% to Rs 598 crore in the fiscal 2025 from Rs 525 crore in the preceding company has turned profitable in fiscal 2025, with Rs 13.28 crore profit against a loss of Rs 59.38 crore in FY24. IIFL Capital Services , Nomura Financial Advisory and Securities (India) Private Ltd are the book-running lead managers of the issue. The equity shares are proposed to be listed on the NSE and BSE. PTI
Observer
3 days ago
- Entertainment
- Observer
'Tunisian Cinema Days' ends today
The 'Tunisian Cinema Days', organised by the Oman Film Society (OFS), in cooperation with the Embassy of Tunisia in Oman, ends today, June 18. The event began under the theme 'Human Creativity in Tunisian Cinema' on June 16. The Cinema Days previewed a selection of the most important Tunisian feature and documentary films, along with dialogue seminars and discussion sessions with film-makers, with the aim of highlighting the Tunisian cinematic experience and promoting cultural and artistic exchange between the two countries. The OFS emphasised that this initiative is part of its programmes aimed at promoting Arab and international cinema and creating spaces for interaction between the Omani audience and various visual creations, especially those that address human and social issues with sophisticated artistic expression. "This cultural cooperation with Tunisia and other countries, of which we are proud, confirms our shared belief that cinema is not only a visual art, but a human language that unites, brings people together, expresses identity and preserves memory," said Mohammed bin Abdullah al Ajmi, Chairman of the Oman Film Society. The opening ceremony, held at the Ministry of Labour's Grand Hall, was attended by a select group of diplomatic and cultural figures, a number of film-makers from Oman and Tunisia, and an audience interested in the seventh art. The first day's activities concluded with the screening of the feature film 'My Son' by director Mehdi Barsaoui (96 minutes). The film explores the relationship between a father and his son in the face of contemporary social challenges. It was presented in a sensitive visual style and received great interaction from the audience, thanks to its narrative authenticity and sophisticated artistic treatment. Ezzedine El Tees, Tunisian Ambassador to Oman, said that these days would not have been possible without the distinguished historical and fraternal relations between our two brotherly peoples, and the great and valuable cooperation and generous support we have received from the Oman Film Society, a pioneer in its field with its great efforts in serving Omani and Arab cinema and culture. "This occasion represents an artistic bridge between our two brotherly countries, adding to the authentic cultural, economic and social bridges between Tunisia and Oman throughout their long shared history, present, and future."
Mint
4 days ago
- Business
- Mint
Indian Overseas Bank, Punjab & Sind Bank, other PSU bank stocks rally up to 4% on report of accelerated govt stake sale
Shares of public sector banks (PSBs) rallied up to 4% on Tuesday following reports that the government is set to fast-track the process of offloading its stake in select lenders. Indian Overseas Bank share price surged as much as 4% to ₹ 38.99 apiece, while Central Bank of India shares rose 2.68% to ₹ 39.00. UCO Bank stock price gained 2.7% to ₹ 32.14, and Bank of Maharashtra shares advanced 2.8% to ₹ 56.15. Meanwhile, Punjab & Sind Bank share price added 3.4% to trade at ₹ 32.30 on the BSE. According to a report by CNBC Awaaz, the government plans to accelerate the disinvestment process in public sector banks, with the appointment of merchant bankers in the final stages. The Centre aims to sell up to a 20% stake in five PSU banks over the next six months through Qualified Institutional Placement (QIP) and Offer for Sale (OFS) routes. The proposed stake sale will involve UCO Bank, Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, and Punjab & Sind Bank. Proceeds from the stake sale are expected to be utilised to meet the respective banks' capital and operational requirements, the report added.
Observer
6 days ago
- Entertainment
- Observer
Oman, Tunisia seek ways for cinema collaborations
MUSCAT: The Oman Film Society, as part of its ongoing efforts to enhance cultural and artistic cooperation with other countries, forged understanding with Tunisia to promote films of both countries and to explore ways to make joint productions besides hosting joint cinema nights in Muscat. This was stated by Mohammed bin Abdullah al Ajmi, Chairman of the Oman Film Society (OFS), who met with Azzedine al Tayse, Ambassador of the Republic of Tunisia to the Sultanate of Oman recently. Accordingly, both sides agreed to find ways to develop bilateral relations in the field of cinema, in addition to reviewing prospects for cooperation in organising cultural events that contribute to enhancing artistic and cultural avenues. "We have also agreed to seek possibilities of knowledge exchange between the two countries and to participate in the monthly cinema nights programme organised by the Society," said Mohammed al Ajmi. A monthly film festival titled 'Tunisian Cinema Nights' which will be organised in June at the OFS premises, will include screenings of distinguished Tunisian films, along with dialogue sessions with Tunisian filmmakers and critics. Through this initiative, the association seeks to present rich Arab cinematic experiences and enhance cultural exchange between the Sultanate of Oman and the Republic of Tunisia, contributing to revitalising the local cinema scene and broadening the horizons of the Omani audience towards regional cinema. Both sides hoped that by agreeing to promote each other's cinema productions, cultural exchanges would be made possible through the most powerful medium, which would enhance bilateral relationship through understanding and tolerance.
