HDBFS

** HDB Financial Services Ltd HDBF.NS up 1.4% to 774.35 rupees on upbeat Q3 results

** Co, a unit of India's largest private lender HDFC Bank HDBK.NS, said profit jumped 36%, net interest income climbed 22.1%, assets under management up 12%

** AMBIT expects AUM growth to pick up to 16%/17% Y/Y in FY27/28E and credit cost to reduce to 2%, resulting in 20% EPS CAGR (FY26-28E)

** Emkay downgrades stock to "reduce" from "buy"; trims PT to 750 rupees from 850 rupees

** Expects near-term downside risk if stress in the vehicle and unsecured segments persists

** Says, with growth and profitability not firing together, do not see any scope for a re-rating of the stock

** HDBF down 7.5% since its debut in July

(Reporting by Brijesh Patel in Bengaluru)

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By Aditya Kalra and Miho Uranaka

NEW DELHI/TOKYO, Dec 17 (Reuters) - Japan's Mitsubishi UFJ Financial Group (MUFG) 8306.T is set to invest more than $4 billion for a roughly 20% stake in Indian non-bank financial company Shriram Finance SHMF.NS, with the deal to be closed on Friday, two people with knowledge of the matter said.

MUFG declined to comment, while Shriram Finance did not respond to Reuters' queries.

It would be the latest in a string of overseas expansion deals by Japanese banks, which are looking for stronger growth than is available in a domestic market where the population is ageing and declining. India has become a popular destination due to its fast-growing economy.

Larger Japanese rival Sumitomo Mitsui Financial Group 8316.T bought 24.2% of Indian lender Yes Bank YESB.NS this year, starting with a 20% stake for $1.6 billion in May.

Japan's Mizuho Securities said on Wednesday it would buy a majority stake in Indian investment bank Avendus from U.S. investment firm KKR KKR.N for up to 81 billion yen ($523 million).

Bloomberg reported on Monday that MUFG may invest more than $3.2 billion in the Shriram Finance deal, but the two sources said the amount will be much higher.

While both said the amount will be in excess of $4 billion, one of the sources put the number at about $4.3 billion, or 390 billion Indian rupees. They declined to be named because the details are confidential.

Shriram Finance late on Tuesday told Indian stock exchanges that its board would meet on Friday to discuss and approve a proposal to raise funds, without elaborating.

Shriram Finance is one of India's biggest retail non-banking financial entities, offering credit solutions for commercial vehicles, cars, scooters and personal loans. Its assets under management stood at 2.8 trillion Indian rupees, or $31 billion, as of the end of September.

(Reporting by Aditya Kalra in New Delhi and Miho Uranaka in Tokyo; Additional reporting by Vibhuti Sharma and Gopika Gopakumar; Editing by Jamie Freed)

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MUMBAI, Nov 11 (Reuters) - India's HDB Financial Services has accepted bids worth 4.60 billion rupees ($52.3 million) for the reissue of 7.3274% August 2028 bond and 7.3268% October 2030 bond, three bankers said on Tuesday.

The company had invited commitment bids for the issues on Monday, they said.

HDB Financial Services did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on November 11:

*Size includes base plus greenshoe for some issues

($1 = 87.8950 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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Adds details throughout

Nov 6 (Reuters) - State Bank of India SBI.NS, the country's largest lender by assets, said on Thursday it will sell a 6.3% stake in SBI Funds Management via the latter's initial public offering.

SBI Funds Management, a joint venture between SBI and French fund management firm Amundi, oversees mutual funds and investment portfolios for retail and institutional investors.

The french company will sell a 3.7% stake via the IPO, which will likely be completed in 2026, according to the Indian lender.

SBI currently holds a 61.9% stake in SBI Funds Management, while Amundi has a 36.4% stake.

The divestment plan comes at a time of intense activity in India's IPO market.

The country is expected to see a record year for IPO fundraise in 2025 - surpassing previous year's $20.5 billion proceeds - with offerings from firms including Tata Capital TATC.NS, LG Electronics India LGEL.NS and HDB Financial HDBF.NS making India the third biggest venue for primary market fundraising.

(Reporting by Nishit Navin; Editing by Sonia Cheema)

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Oct 15 (Reuters) - HDB Financial Services HDBF.NS:

• DIVIDEND 2 RUPEES PER SHARE

Source text: ID:nNSE5nNMKv

Further company coverage: HDBF.NS

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BENGALURU, Oct 14 (Reuters) - LG Electronics India LGEL.NS made a stellar stock market debut on Tuesday, listing at a premium of 50% to its issue price of 1,140 rupees per share.

This is the best listing for a billion-dollar Indian initial public offering since Eternal ETEA.NS, the parent company of food delivery and restaurant-listing platform Zomato, debuted in 2021.

Here's a look at how India's other billion-dollar IPOs have done this decade:

SBI CARDS AND PAYMENT SERVICES (MARCH 2020)

The credit card arm SBIC.NS of India's largest lender, State Bank of India SBI.NS, slid about 13% in market debut, as the COVID-19 pandemic worries dampened enthusiasm for one of the country's largest public listings.

ETERNAL, FORMERLY KNOWN AS ZOMATO (JULY 2021)

The food and grocery delivery platform listed at a premium of 51.3% to its issue price, giving the startup a valuation of about $13 billion and setting the stage for other domestic startups waiting in the wings with listing plans of their own.

ONE97 COMMUNICATIONS (NOVEMBER 2021)

The parent of digital payments start-up, Paytm PAYT.NS, made one of the worst major Indian stock market debuts as its shares listed at a 9% discount and closed the first day 27% below its offer price due to concerns over profitability and lofty enterprise value.

LIFE INSURANCE CORPORATION OF INDIA (MAY 2022)

Shares of India's biggest insurer LIFI.NS slid nearly 9% in market debut amid broader market volatility and concerns over its market share loss to rivals.

HYUNDAI MOTOR INDIA (OCTOBER 2024)

The automaker's shares HYUN.NS fell 1.5% on listing after retail investors gave a lukewarm reception to the country's biggest-ever IPO amid concerns about a lofty valuation and an auto industry slowdown.

SWIGGY (NOVEMBER 2024)

The SoftBank-backed food and grocery delivery platform SWIG.NS listed at a 5.6% premium and extended gains through the day, signaling growing investor confidence in the segment.

NTPC GREEN ENERGY (NOVEMBER 2024)

The renewable energy firm's shares NTPG.NS jumped as much as 14% on their debut, as investors bet on the country's growing clean energy needs and the company's diversified portfolio.

HDB FINANCIAL SERVICES (JULY 2025)

Non-banking financial lending arm HDBF.NS of the country's largest private lender HDFC Bank HDBK.NS jumped about 13% on listing, notching a valuation of $8.2 billion, as investors bet on long-term growth prospects in the world's most populous country.

TATA CAPITAL (OCTOBER 2025)

India's third-largest non-bank lender TATC.NS made a muted debut, listing slightly higher than its issue price at a $15.78 billion valuation, with investors seemingly not that keen on the Tata Group's first IPO in two years due to a crowded IPO market and lack of valuation discount to listed peers.

(Reporting by Vivek Kumar M; Editing by Rashmi Aich)

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MUMBAI, Sept 24 (Reuters) - India's HDB Financial Services has accepted bids worth 2.75 billion rupees ($30.99 million), for the reissue of its 7.3274% August 2028 bond, three bankers said on Wednesday.

It will offer a yield of 7.3150%, and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 24:

*Size includes base plus greenshoe for some issues

($1 = 88.7388 Indian rupees)

(Reporting by Dharamraj Dhutia)

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MUMBAI, Sept 11 (Reuters) - India's HDB Financial Services HDBF.NS plans to raise 5 billion rupees ($56.7 million) through the sale of bonds maturing in two years and 11 months, three bankers said on Thursday.

It has invited coupon and commitment bids for the issue later in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 11:

*Size includes base plus greenshoe for some issues

($1 = 88.1200 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

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MUMBAI, Aug 28 (Reuters) - India's HDB Financial Services HDBF.NS plans to raise 5 billion rupees ($57.08 million), including a greenshoe option of 3.75 billion rupees, through the sale of bonds maturing in three years and one month, three bankers said on Thursday.

It has invited coupon and commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 28:

* Size includes base plus greenshoe for some issues

($1 = 87.60 Indian rupees)

(Reporting by Khushi Malhotra, Dharamraj Dhutia; Editing by Harikrishnan Nair)

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MUMBAI, Aug 20 (Reuters) - India's HDB Financial Services HDBF.NS plans to raise 10 billion rupees ($114.90 million), through the reissue of 8.33% August 2027 bonds, three bankers said on Wednesday.

It has invited coupon and commitment bids for the issue on Thursday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 20:

*Size includes base plus greenshoe for some issues

($1 = 87.0350 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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MUMBAI, Aug 12 (Reuters) - India's HDB Financial Services HDBF.NS plans to raise 5 billion rupees ($57 million), including a greenshoe option of 3 billion rupees, through the sale of bonds maturing in three years and 40 days, three bankers said on Tuesday.

It has invited coupon and commitment bids for the issue on Wednesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 12:

*Size includes base plus greenshoe for some issues

($1 = 87.6530 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Sumana Nandy)

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July 15 (Reuters) - HDB Financial Services Ltd HDBF.NS:

• JUNE-QUARTER NET PROFIT 5.68 BILLION RUPEES

• JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 44.65 BILLION RUPEES

Source text: [ID:]

Further company coverage: HDBF.NS

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