News of Financial Services | Financial Institutes in Gujarat

IIFL WEALTH GROUP to acquire L&T FINANCE HOLDINGS’ wealth mgmt biz

MUMBAI | AHMEDABAD – GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered Indian infrastructure & financial services major L&T Finance Holdings Ltd said of its wealth management business being acquired by IIFL Wealth Group solely or jointly with a wholly owned subsidiary of IIFL Wealth Management Limited, for

BANDHAN BANK launched Credit Cards in partnership with STANCHAR

KOLKATA | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press-release submitted to the Indian Stock Exchanges, Kolkata headquartered bank Bandhan Bank Ltd said of having launched credit cards in partnership with Standard Chartered Bank. The press-release as addressed by the company to the Indian Bourses – titled, “Bandhan Bank launches credit cards, in partnership

M&M Financial Services acquired 58.20% stake in Sri Lankan Finance Company

COLOMBO (SRI LANKA) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Mumbai headquartered Indian Auto Major Mahindra & Mahindra Financial Services Ltd said of having acquired 58.20% stake of a finance company in Sri Lanka. The filing submitted by the company to the Indian Bourses and

YES Bank raised 19.3 bln rupees through Qualified Institutions Placement route

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory submission to the Indian Stock Exchanges, Mumbai headquartered Indian Banking major YES Bank Ltd said of having raised 19.3 billion (~1,930 crore) rupees through Qualified Institutions Placement (QIP) route. The press-statement submitted by the company to the Indian Bourses titled, “YES BANK raises Rs. 1,930 crores

PNB Housing raises USD $75 mln (~522 Cr INR) from Sumitomo Bank, Singapore

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, housing arm of Punjab National Bank – PNB Housing Finance Ltd raised USD $75 million as external commercial borrowings from Sumitomo Mitsui Banking Corp (SMBC) Singapore. In a company press release titled, “PNB Housing Finance raises

PNB Housing Finance rasies $100 million from IFC

NEW DELHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release submitted to the Indian Stock Exchanges, Indian Bank Punjab National Bank’s housing finance arm PNB Housing Finance Ltd said of having raised 6.9 billion rupees (~US Dollars ($) 100 million) from World Bank’s International Finance Corporation (IFC) to finance purchase of affordable

Two Austrain Banks go live with Intellect Design’s FinTech products

LONDON (UK) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release addressed to the Indian Stock Exchanges, Indian Information Technology company specializing in financial technology products – Intellect Design Arena Ltd said of two Raiffeisenlandesbanks having gone live with Intellect’s digital trade finance solution products. The press release submitted to the Indian Bourses

ADAG led Reliance Capital fully repays outstanding comm paper worth Rs.750 mln

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory filing submitted to the Stock Exchanges in India, Anil Dhirubhai Ambani led Reliance Capital Ltd said of having fully repaid its outstanding commercial papers worth Rs.75 Cr (~750 million) on July 24, 2019. The filing submitted to the Indian Bourses read that, the Company has fully repaid

KSIDC nominates Sanjay M Kaul (IAS) on Geojit Financial’s Board as Exe Dir

KOCHI | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory statement filed to the Indian Bourses, Geojit Financial Services Ltd said of Sanjay M Kaul, IAS being nominated by Kerala State Industrial Development Corporation (KSIDC) on the company’s board as Executive Director, replacing Dr. Sharmila Mary Joseph, IAS The filing read that, M/s Kerala State

HDFC Bank highest ranked Indian Co among Global Top 100, brand valued @ 15,74,436 Cr INR

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release issued by HDFC Bank Ltd, the communique claimed of HDFC Bank as highest-ranked Indian company in Global Top 100 and brand valued at $22.7 billion ($22,700 Cr ~ 15,744,362,693,169.70 INR ~ 15,74,436 Cr INR @ Exchange Rate of 1$ = 69.3584 INR), the company has

Adani Green appoints joint bookrunners for investor meets in Asia, EU, US to offer 5yr secured bonds

AHMEDABAD | GANDHINAGAR | MUMBAI | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Ahmedabad headquartered Indian diversified conglomerate’s group company Adani Green Energy Ltd said of having appointed joint bookrunners for arranging fixed income investors meetings in Asia, Europe and United states, directed for offering of secured 5 year bonds.

Zions Bancorporation Unifies Lending Operations with TCS BaNCS

NEW YORK | MUMBAI | AHMEDABAD | GANDHINAGAR | RAJKOT – In a press-release communication addressed to the Indian Stock Exchanges on Monday, India’s leading Information Technology company Tata Consultancy Services (TCS) Ltd said of Zions Bancorporation Unifies Lending Operations with TCS BaNCS, Deploying Tata Consultancy Services’ Centralized Banking Platform has Simplified the Bank’s IT Landscape,

HDFC Bank proposes 500 bln rupees fund raising via bonds for pvt placement

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to Indian Bourses on Monday, Indian Banking major HDFC Bank Ltd said of the Bank proposes to raise funds by issuing  Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds  (Financing of infrastructure and affordable housing)

Qatari Co Ahli Brokerage opts BaNCS Digital of Tata Consultancy Services’ to serve customers

QATAR | MUMBAI | RAJKOT – In a press-release statement submitted to the Indian Bourses, by Tata Consultancy Services Ltd the company claimed of Qatar headquartered Ahli Brokerage Selects TCS BaNCS Digital to offer on-The-Go Trading Services in Qatar. Tata Consultancy Services’ Digital Trading Solution will enable investors to track their portfolio and make intelligent

Prafull Anubhai steps down as Independent Director from Gruh Finance Board

AHMEDABAD | MUMBAI | RAJKOT – In a regulatory filing submitted to the Indian Stock Exchanges, Ahmedabad headquartered housing finance major Gruh Finance Ltd said of second term of Prafull Anubhai as Independent Director was upto March 31, 2019 and that he has has stepped down as Independent Director from the close of 31st March 2019.

PNB sells 22 million shares held in PNB Housing for 18.52 bln rupees

NEW DELHI | MUMBAI | RAJKOT – In a regulatory update statement submitted to the Indian Stock Exchanges, PNB Housing Finance Ltd said of having been intimated by Punjab National Bank of having liquidated 22 million (~2,17,83,466) shares with each priced at 850/- rupees per share and in tranche of 1,08,91,733 shares each to General Atlantic