Vodafone may appoint 4 lead bankers for IPO:

 


Source : CNBC-TV18 :Sep 14, 2011 at 14:18 




Vodafone, one of the largest telecom operators in India, is likely to appoint four lead bankers for its initial public offering (IPO), reports CNBC-TV18's Kritika Saxena quoting sources.

    

In fact, the company is learnt to have started talks with bankers to frame the contours of the IPO, through which it plans to dilute between 11%

 and 14% stake. "Six investment banks have pitched for IPO mandate and will be appointed by October," sources say.

However, when contacted, the company said it did not wish to comment on such speculation.

 

Facebook to delay IPO until late 2012

Source :Sep 15, 2011 at 08:20 :: Reuters

Facebook will delay its initial public offering until the end of next year so employees can focus on developing products for the No. 1 social networking website, the Financial Times reported on Wednesday.

Facebook, which is expected to have one of the biggest IPOs in history, plans to go public at the end of 2012, a later public debut than it originally planned, the newspaper said, citing people familiar with the company.

The newspaper reported that chief executive Mark Zuckerberg wants to delay an IPO until September or later in 2012 so employees can stay "focused on product developments rather than a pay-out." The decision was not related to market conditions, the paper said.

Facebook could not be reached for comment.

Sources told Reuters earlier this month that Facebook's revenue doubled to USD 1.6 billion in the first half of 2011. Investors have pushed its valuation to roughly USD 80 billion in the private markets.

CitiFinancial to sell Rs 4,500 crore assets in tranches to banks, NBFCs

Source :FC :Falaknaaz Syed, Anto T Joseph Sep 14 201, Mumbai
Tags: CitiFinancial




CitiFinancial Consumer Finance India hopes to sell 
retail mortgages and personal loans worth Rs 4,500 crore 
to non-banking financial companies and banks over the next two years.


The non-banking arm of Citigroup has sold part of its retail mortgages to Development Credit Bank and Religare Finvest, though the exact quantum of assets could not be ascertained. The NBFC is negotiating with banks and leading NBFCs to sell assets.

A senior official of Citibank told Financial Chronicle that they were selling the assets of CitiFinancial in small tranches to banks and NBFCs. “Around Rs 4,500 crore of assets are left and we are managing them for value. We will sell these assets at a premium and not at a discount,” he said.

Citigroup, which earlier wanted to sell CitiFinancial assets lock, stock and barrel, could not do so because of valuation issues.

A Citigroup spokesperson said after the global financial crisis, Citi decided to bifurcate its assets into core and non-core. “CitiFinancial would be a non-core asset and would be managed for value. We have publicly stated that we are selling the portfolio,” he said.

Murali M Natrajan, managing director and chief executive officer of Development Credit Bank, said, “I do remember having done a tranche of a small portion of retail mortgages around two months back. However, I cannot divulge the amount.”

“As part of our normal business strategy, we buy retail mortgages if they fit within our strategy, geography and have acceptable credit parameters,” said Natrajan.

Several calls and a text message to Kavi Arora, chief executive officer of Religare Finvest, remained unanswered. Religare Finvest, the NBFC of Religare, offers small & medium enterprises mortgages, loan against property, working capital loans, commercial assets and loans against marketable securities. According to the NSE website, on March 31, 2010, CitiFinancial had non-performing assets worth Rs 1,068.41 crore as against Rs 908.36 crore a year ago.

India Inc's Q2 advance tax: Who is Paying What ?

Source: Sep 15, 2011 at 13:34  : CNBC-TV18

The second quarter advance tax numbers have started trickling in. From the financials space, sources indicate HDFC is likely to pay Rs 475 crore, while ICICI Bank may pay Rs 600 crore.

From the Tata Group, Tata Steel may pay Rs 620 crore and TCS may see a big jump from Rs 270 crore to Rs 570 crore. In FMCGS, ITC is likely to pay Rs 750 crore, up 20% from last year and HUL may pay 200 crore.

Here is a table of what sources say India Inc is likely to pay as Q2 advance tax:   

Company	Rs (Cr.)
LIC	1,160
ITC	750
Bank of Baroda	620
Tata Steel	620
ICICI	600
TCS	570
SAIL	540
Union Bank	300
Bajaj Auto	250
Bank of India	250
Central Bank	220
HUL	200
M&M	170
MRPL	150
Nuclear Power C	150
GIC	130
Kotak	120
Asian Paints	95
ACC	90
Tata Motors	90
GrasimIndia	85
GSKPharma	85
Castrol Ind	80
CromptonGreaves	70
Orchid Chem	70
Oracle Fin	65
Zee Ent	50
Alok Ind	30
Pfizer	26