RELCAPITAL

Corrects paragraph 5 to say Cyqure India is a unit of Hinduja Group, not IIHL

By Bhakti Tambe

MUMBAI, Sept 16 (Reuters) - Cyqure India, a Hinduja Group company, raised 30 billion rupees ($357.76 million) through zero-coupon bonds maturing in three years and six months to partly fund acquisition of subsidiaries of Reliance Capital, two bankers told Reuters on Monday.

The company invited bids from investors earlier in the day and received bids from high-net-worth investors, family offices and domestic private credit funds, the bankers said requesting anonymity as they are not authorised to talk to the media.

Private credit fund 360 One Asset has likely arranged the issue, multiple bankers said.

Hinduja Group and 360 One did not immediately respond to Reuters' requests for comment.

Cyqure India, a domestic unit of Hinduja Group, offered a yield of 14.5%, according to a term sheet seen be Reuters.

The coupon will rise by 100 basis points if the credit rating slips a notch, the term sheet showed.

Careedge Ratings has assigned a BBB– provisional rating to these notes. The proceeds of the Cyqure India bond issue will be used to acquire 25.05% stake in Reliance General Insurance and 26% in Reliance Nippon Life Insurance, Careedge said.

These insurance companies, a part of Reliance Capital, are in the process of being acquired by IndusInd International Holdings (IIHL), a Hinduja Group Holding Company.

The Reserve Bank of India took over Reliance Capital in 2021 due to governance concerns at the non-bank lender after it failed to meet its payment obligations to creditors.

In February, IIHL, won the bid under the National Company Law Tribunal of India to acquire Reliance Capital.

In case IIHL fails to procure a foreign portfolio investor registration within three months from the date of allotment, the coupon will be stepped up by 200 bps. Following the fulfilment of the condition, it will get stepped down by the similar size.

Separately, Hinduja Group is also considering a private placement of a second tranche of bond issue to raise around 43 billion rupees in coming weeks, bankers said. The final details of this issue are still getting firmed up.

($1 = 83.8560 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Nivedita Bhattacharjee)

(([email protected]))

Adds background throughout

BENGALURU, Aug 30 (Reuters) - An Indian company tribunal has approved the $8.5 billion merger of Reliance Industries RELI.NS and Disney's DIS.N Indian media assets, Reliance said on Friday.

Earlier this week, the companies had won approval from the Competition Commission of India (CCI) for the deal, after assuaging regulatory worries about their grip on broadcasting rights for cricket.

The competition regulator had said the deal, which will create the country's biggest entertainment player, was being approved subject to modifications submitted voluntarily by the companies, without sharing further details. A detailed order is yet to be issued.

To get the merger over the line, the two companies have offered concessions, including a commitment to not raise advertising rates unreasonably for streamed cricket matches, and to sell 7-8 non-sports TV channels, a source familiar with the matter had told Reuters.

On Thursday, at Reliance's annual shareholders meeting, billionaire-chairman Mukesh Ambani had welcomed the merger and said, "our expanded Media business will be an invaluable growth centre in the Reliance ecosystem".

(Reporting by Indranil Sarkar and Manvi Pant in Bengaluru; Editing by Krishna Chandra Eluri)

(([email protected]; +918447554364;))

** Shares of Anil Ambani's Reliance Group companies drop on Mon, extending losses to 9-11% in past two sessions

** Reliance Infrastructure RLIN.NS and Reliance Home Finance RLIC.NS erase all YTD gains

** Losses after Indian markets regulator SEBI late on Thurs banned Ambani, 24 others from securities market for 5 years on charges of funds diversion

** Ambani is reviewing order, his spokesperson said

** Reliance Infrastructure down 11.3% in two days

** Reliance Home Finance down 10% in two days

** Reliance Power RPOL.NS down 9.7% in two days, but is still up 40.6% for the year

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

RPT of story published August 23, 20242:27 PM GMT+8

MUMBAI/BENGALURU, Aug 23 (Reuters) - India's markets regulator late on Thursday banned Anil Ambani and 24 others from the securities market for five years on charges of diversion of funds.

The Securities and Exchange Board of India (SEBI) also imposed a fine of 250 million rupees (about $3 million) on Ambani, saying he orchestrated a scheme to "siphon off" funds from Reliance Home Finance Ltd RLIC.NS.

The regulator said the "fraudulent" scheme was to "siphon off" funds from Reliance Home by structuring them as 'loans' to credit-unworthy borrowers.

Most of these borrowers were linked to large shareholders with the ability to influence company decisions, the SEBI added.

An email to Anil Ambani-led Reliance group spokesperson were not answered immediately. A spokesperson for Reliance Capital, the holding company, declined to immediately comment.

The Reliance Group was created in July 2006 following a demerger from Reliance Industries Ltd RELI.NS, which is led by Anil's brother Mukesh Ambani.

Reliance Home Finance's shares fell 5% after the news.

($1 = 83.8620 Indian rupees)

(Reporting by Jayshree P Upadhyay in Mumbai and Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee and Savio D'Souza)

(([email protected]; X: @MukherjeeHritam;))

Feb 28 (Reuters) -

• RELIANCE CAPITAL TO BE DELISTED FROM STOCK EXCHANGES - ET NOW CITING SOURCES

Source text link: https://bit.ly/42Y9Szn

Further company coverage: RLCP.NS

(([email protected];))

** Shares of Nippon Life India Asset Management NIPF.NS up 7% at 480.3 rupees, paring back from record high of 489 rupees

** IndusInd Bank INBK.NS likely to sell 2.86% stake in co via block deals, multiple media reports say

** Stock on track to rise for four consecutive weeks, also eyes third straight quarters of gains

** About 2.7 mln shares changed hands, 3.5x 30-day avg

** Analysts' avg recommendation is "buy," but their median PT of 410 rupees is 17% below current market price - LSEG data

** NIPF has surged more than 91% so far this year

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** With outlook for equity markets improving, regulatory concerns waning, asset management co stocks can do well in FY24, Nuvama says

** Benchmark Nifty 50 index .NSEI up 16% YTD, extending record high rally

** Nuvama picks HDFC Asset Management HDFA.NS and Nippon Life India Asset Management NIPF.NS as its top bets

** For FY24 to date, strong SIP inflows have driven active equity net inflows to 1.22 trillion Indian rupees ($14.63 billion)(+18.9 YoY), Nuvama says

** Brokerage adds equity assets under management are at all-time high of 25.8 trillion rupees

** HDFA last down 0.2% at 2,981 rupees and NIPF up 1.1% at 438.50 rupees

** HDFA up 36% YTD, NIPF up 76% so far this year

($1 = 83.3797 Indian rupees)

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Nov 8 (Reuters) - Reliance Capital Ltd RLCP.NS:

• SEPT-QUARTER CONSOL NET LOSS 2.39 BILLION RUPEES VERSUS PROFIT 2.15 BILLION RUPEES

• SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 63.93 BILLION RUPEES VERSUS 57.96 BILLION RUPEES

Source text for Eikon: ID:nBSEbPp8mB

Further company coverage: RLCP.NS

(([email protected];))

** Shares of Nippon Life India Asset Management NIPF.NS rise 5.2% to 390 rupees

** Co reports a near 19% rise in Sept-qtr net profit to 2.44 bln rupees ($29.32 mln)

** NIMF's average assets under management stood at 3.51 trln rupees, as of Sept. 30

** Over 1.8 mln shares change hands as of 2:20 p.m. IST, 1.9x 30-day avg

** Stock currently trading above 50-day, 100-day and 200-day moving avg

** Of 15 analysts tracking company, 13 maintain "buy" or higher and two suggest "hold"; median TP is 410 rupees - LSEG Data

** Including session's moves, YTD gains at 56.4%

($1 = 83.2270 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

July 18 (Reuters) - Indusind Bank CEO:

• BANK WELL-CAPITALISED, DON’T ENVISAGE CAPITAL RAISING IN IMMEDIATE FUTURE

• NOT HAD CAPITAL-RELATED DISCUSSIONS WITH PROMOTERS

• NO INTIMATION FROM PROMOTER TO MERGE RELIANCE CAPITAL WITH BANK

• EXPECT NIMS TO STAY BETWEEN 4.2-4.3% IN THE COMING QUARTERS

• WILL GO FOR CAPITAL RAISE WHEN CET-1 RATIO FALLS BELOW 14%

• TARGET TO BUILD A HOME LOAN BOOK OF 150 BILLION RUPEES IN NEXT 3 YEARS

Further company coverage: INBK.NS

(([email protected];))

-- Source link: https://bit.ly/3JTJQFo

-- Note: Reuters has not verified this story and does not vouch for its accuracy

((Bengaluru newsroom, [email protected]))

** Shares of Indian asset management cos Aditya Birla Sunlife AMC ADIE.NS, HDFC Asset Management HDFA.NS, UTI Asset Management UTIA.NS and Nippon Life India Asset Management NIPF.NS surge between 5%-14%

** Markets regulator SEBI on Wednesday deferred a proposal on standard investor fees by mutual funds

** SEBI had in May proposed that mutual fund houses charge standardised fees from investors to ensure greater transparency

** SEBI will come out with another consultation paper to standardise investor fees for mutual funds, its chairperson had said on Wednesday

** "While we still await the shape of final regulations, improved prospects of a less disruptive outcome augurs well for AMC stocks," Kotak Institutional Equities said in a note

(Reporting by Nallur Sethuraman in Bengaluru)

(([email protected]; (+91 8061822737); Reuters Messaging: [email protected]))

** Shares of Indian asset managers UTI Asset Management Co UTIA.NS, Nippon Life India Asset Management Ltd NIPF.NS and HDFC Asset Management Co HDFA.NS down between 0.7% and 3.8%

** India's capital market regulator is proposing mutual fund houses charge standardised fees from investors to ensure greater transparency, according to a consultation paper from Securities and Exchange Board of India (SEBI)

** SEBI's consultation paper can impact profits of MFs by 13%, though part of it will be passed on to distributors, brokers and other partners - Jefferies analysts

** Total fee charged to a mutual fund investor, or the expense ratio, should be inclusive of all expenses, including brokerage paid by fund houses to purchase shares or other securities - SEBI paper

** Up to last close, HDFA , UTIA and NIPF have declined 16.9%, 24.6% and 5.3% respectively, YTD

(Reporting by Rama Venkat in Bengaluru)

(([email protected]; https://twitter.com/ramavenkat0607;))