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PSBs Tighten Lending Norms For Corporate Loans et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 16, 2018 12:40 PM 1 min read
Editorial

 

End of Day Wrap-up (Friday / March 16, 2018) #PSB #Grofers #Softbank #electoralbonds #PSU #Xiaomi #Alibaba #China #Transfin

Editor's Comment: PSBs tightens lending norms for corporate loans above INR2,500cr - move them under consortium umbrellas
Online grocery delivery platform.

 

Grofers raises $62m from existing investors incl. Softbank. Other investors include Tiger Global and Apoletto Asia. Funds to be used to boost its private label and entry in new segments.

 

India sells INR222cr of electoral bonds in its maiden issue. Instrument is similar to a promissory note and has a validity of 15 days, within which a political party can deposit it in its account to credit the requisite donation. Identity of donor to remain confidential.

 

India's largest defence PSU Hindustan Aeronautics to IPO and raise INR4,200cr by selling 10.2% govt stake. ROE as at FY17 at 22%. Issue follows IPO of Bharat Dynamics, another PSU defence manufacturer.

 

Chinese Smartphone maker Xiaomi planning a blockbuster IPO this year, with valuations ranging $80bn-$200bn. Expected to be listed in both HK and Shanghai or Shenzen.

 

Alibaba Group is working on a plan to list on a stock exchange in homemarket China, 3 years post its IPO in New York.