HDFC Wants To Raise Funds Overseas. Issues Rs 800 Crore in Domestic Bonds
HDFC, India’s largest mortgage lender and not to be confused with HDFC Bank, is keen to raise funds in overseas markets and is awaiting the Reserve Bank of India’s clarification on the matter.
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Moody’s Downgrades ICICI UK’s Long Term Debt
Moody’s, the global rating agency, last week downgraded ICICI Bank UK, the British subsidiary of ICICI Bank. The ratings agency downgraded supported long term bank deposits, senior unsecured debt and also revised the ratings for subordinated and junior subordinated debt issued by the bank.
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Reliance Stops Making New Consumer Loans
Anil Ambani controlled Reliance Consumer Finance; the consumer lending division of ADAG unit Reliance Capital stopped making fresh loans effective last week the Reuters news agency reported citing the Hindustan Times as its source.
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HDFC Overtakes ICICI Market Cap
HDFC Bank India’s second largest private bank by assets overtook ICICI Bank the largest private lender in India in terms of market capitalisation at the end of October, making it the largest Indian private bank based on market capitalisation.
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Tata Sons Sells 26% Telecoms Stake to DoCoMo. Chairman Concerned Over Financing
Japanese mobile phone major NTT DoCoMo acquired a 26% stake in Tata Teleservices for Rs. 13, 311 crores ($ 2.7 billion) according to a joint statement issued by both companies on Thursday. NTT will along with Tata Sons also be making a tender offer to buy 20 per cent of the outstanding shares of Tata Teleservices (Maharashtra) not owned by the holding company in accordance with SEBI guidelines. No financial details of the offer were provided in their statements.
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