IL&FS Financial Services approves interim distribution payout of Rs 807 crore
IFIN had in February made an interim distribution payout of ₹3,200 crore to creditors. With the latest distribution, total interim payouts by IFIN currently stands at ₹4,007 crore.
Nuvama Wealth makes Dalal Street debut
Nuvama’s listing was part of a demerger plan, where the company allotted 1.05 crore shares to the shareholders of Edelweiss Financial on a proportionate basis. Private equity fund PAG owns a 56% stake in Nuvama, while Edelweiss Group holds 14%. Public shareholders of Edelweiss Financial Services hold the rest of the 30% stake.
Private credit funds exiting early to lower borrower stress risks
Companies that manage to raise funds through public listing, share sale to private equity or through the sale of assets prefer to pay up the credit availed from such funds, which are usually at near usurious interest rates, rather than waiting for the debt to mature.
Capital infusion plan crucial for Bajaj Finance to be one up on rivals
The near-term stock performance may however remain range bound given a high valuation with FY24 expected price-book multiple (P/B) at around seven before capital infusion