Balance Sheet

Snapmint raises $18 mn in debt & equity to expand merchant network

The new funds will be used to expand its partnership with more shopping portals, grow its merchant network, and expand its balance sheet

Vedanta estimated to have raised Rs 3,200 cr from OFS of subsidiary HZL

Mining conglomerate Vedanta Ltd is estimated to have raised around Rs 3,200 crore from the offer for sale (OFS) of subsidiary Hindustan Zinc Ltd. The offer for sale (OFS) of Vedanta group firm Hindustan Zinc Ltd received a strong response from retail and institutional investors, sources said. Vedanta is estimated to have received around Rs 3,200 crore from the OFS, they said. Vedanta will utilise the proceeds generated from the OFS for deleveraging its balance sheet and investment in its growth projects. This, coupled with the Rs 8,500 crore qualified institutional placement, will help bring down debt at the company as well as at the group level. Base issue size for retail investors was 51.44 lakh shares while total retail subscription is 93.82 lakh shares, or 1.8 times of the base issue size. For institutional investors, the base issue was 4.62 crore shares while total institutional subscription is 6.36 crore, or 1.4 times, sources said, adding that the total shares sold through

IFIN reports loss of Rs 5,654 cr for FY14-18, shows revised balance sheet

IL&FS Financial Services (IFIN), a group company of debt-ridden IL&FS Ltd, has incurred a cumulative loss of Rs 5,654 crore for the five-consecutive fiscals -- from FY14 to FY18, according to the revised balance sheet of the firm undergoing resolution process. However, as per the original balance sheet, the company had earned a total profit of Rs 1,015 crore during the five-year period. Following the recast, the company is exploring the option of seeking a refund of income tax paid from the Income Tax for these years. In June this year, the National Company Law Tribunal (NCLT) asked the newly-appointed board of the IL&FS group to file a revised balance sheet, along with its two other subsidiaries. Moreover, its total income also went down to Rs 7,777 crore on an aggregate basis during those five years against Rs 10,297 crore reported earlier, revealed the updated financial results. The company's new board has completed the reopening and recasting of financials and the ...

Changing dynamics of Indian banking

One constant feature of banks' balance sheets over the years - in good times and bad - is the high bad loans in the agriculture sector. Can anything be done about it?

RBI balance sheet grows 11.08% to Rs 70.47 trn in FY24, income up 17%

Central bank's contingency risk buffer at 6.5% of balance sheet, says annual report

Lok Sabha election winner will first need to repair household balance sheet

A trifecta of slow wage growth, elevated interest rates, and heavy borrowing by the average household has weakened the spending impulse of more than 300 million families

Gaining strength

Improving bank balance sheet will support growth

AU Small Finance Bank to double balance sheet to Rs 2.5 trn in 3 yrs: MD

AU Small Finance Bank is targeting to double its balance sheet size to Rs 2.5 lakh crore in three years, helped by the acquisition of Fincare SFB and the growing consumption trend in the country. The bank earlier this week operationalized Authorised Dealer (AD-I) license with foray in forex with 'AU Remit' and Cross-border Trade with 'AU DigiTrade'. "We are targeting a growth of 25 per cent in the next three years and we should double the balance sheet size to Rs 2.5 lakh crore by the time we complete one decade of existence," AU Small Finance Bank managing director Sanjay Agarwal told PTI. The bank started its business in 2017, with a balance sheet size of Rs 10,000 crore, which has now crossed Rs 1.25 lakh crore. Human resources has gone up from just 3,000 to 46,000 during the same period, he said. At the same time, the branch network has increased from 300 to 2,400 touch points currently, he said. Pointing out that banks are formed by the people and for the people, he said, the

FY25 will be a transformative year for Vedanta on many fronts: Anil Agarwal

Mining tycoon Anil Agarwal has said the current financial year that started on April 1 will be a transformative year for his conglomerate Vedanta as it prioritises disciplined growth while parent eyes a USD 3 billion deleveraging in the next three years. In a communication to shareholders, Vedanta Ltd Chairman Agarwal said the group will pursue sustainable growth while maintaining a healthy balance sheet. "These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said. "FY25 will be a transformative year for us on many fronts as we prioritise disciplined growth, operational excellence, and exploring opportunities along the value chain," he said. Vedanta had previously stated that it will invest USD 6 billion across businesses that span from aluminium and zinc to iron ore, steel and oil and gas, which is expected to generate incremental revenue of over USD 6 billion a

Firms report electoral bonds under donations, miscellaneous expenses

A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit

Prospects bright for capital formation, upturn in pvt capital expenditure

The government also expects inflation to further reduce due to measures announced to rein in food prices

Sustained rise in pvt capex is imminent with strong corporates' books: MCA

According to government data, private companies account for 95.6 per cent of the total active companies as of November 2023

Banks raise over Rs 1 trn through CDs in Dec amid liquidity crunch

CDs, which are short-term debt instruments, are utilised by banks to raise funds

Basel-III rules to give Nabard room to double balance sheet from April 2024

Shaji K V, chairman of Nabard, said at present the institution is adequately capitalised and under the Basel framework the capital adequacy ratio will be upward of 20 per cent

RBI balance sheet grows 2.5% to Rs 63.4 trillion; forex ops lift income 47%

Expenditure rises 14% YoY to Rs 1.48 trillion, shows FY23 annual report

SpiceJet restructuring balance sheet; to push for fleet expansion: CEO

SpiceJet chief Ajay Singh on Monday said the airline is significantly restructuring its balance sheet and will aggressively push for fleet expansion. The airline will also be having a significant number of dedicated cargo aircraft, he said, adding that the cargo business has helped the airline pay off its liabilities. Last month, the airline announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business. Besides, it is set to tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore. Amid the budget carrier facing multiple headwinds, he also said that a measure of desperation is always good for an organisation... we will emerge stronger". "It is in our (SpiceJet) DNA. We just refuse to die," Singh said at a session at CAPA India aviation summit here. The airline is significantly restructuring the balance sheet and will be raising fresh capital. The

Banks' balance sheet grows in double digits after 7 years: RBI report

Gross NPA slips to 5%; regulator flags slippages from recast accounts

Edelweiss to slash wholesale loan book to Rs 2,900 crore in 2 years

In a filing with BSE, the company said improved macro environment and sell-down capabilities were driving faster book reduction

TMS Ep229: 5G auction, IIBX GIFT City, markets, twin balance sheet problem

Is the telecom sector staring at disruption after 5G auction? How will the IIBX at GIFT City benefit India? Which sectors are on FPIs' radar? What is the twin balance sheet problem? All answers here

What is the twin balance sheet problem?

In the mid-2000s, infra companies saw robust growth and their shares shot up. But as the loans piled up, banks found themselves in a tight spot. It was a twin balance sheet problem. Let's know more