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New Delhi, Non-Banking Financial Company (NBFC) <keyword id="3504742" type="General" weightage="20" keywordseo="IIFL-finance" source="Orion">IIFL Finance</keyword> has become the second largest gold loan provider surpassing Manappuram Finance. "The gold loan portfolio has crossed Rs 23,690 crore assets under management (AUM), surpassing Manappuram Finance at Rs 20,809 crore worth of gold loan AUM. "This has cemented <keyword id="82050" type="General" weightage="20" keywordseo="IIFL" source="Orion">IIFL</keyword> Finance's position as the second largest gold loan provider in India in terms of AUM," IIFL Finance head of Gold Loan Business Saurabh Kumar, said. The market leader in gold loans is Muthoot Finance with an AUM of Rs 66,089 crore, as of September 2023. Kumar said, "the company has about 18.6 lakh customers and over 70 per cent of our customers are repeat customers helped by customer centric approaches like repayment grace period, no foreclosure charges, transparency in dealings and proactive customer need identification." The company expects a 25-27 per cent increase in gold loan in FY'24, he said. IIFL Finances provides gold loans through 1,486 towns and rural areas across 25 states and 4 Union Territories to salaried, self-employed and Micro, Small and Medium Enterprises (MSME) customer segments. Besides, gold loan, IIFL Finance offers affordable home loan, microfinance loans and business loans and has a consolidated AUM of Rs 73,066 crore.

IIFL Finance emerges as second largest gold loan NBFC

<ul><li>At 7:45 am, the SGX Nifty was up 0.15%, indicating a higher start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Thursday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.15%, indicating a higher start for Nifty50. The<a href="https://www.businessinsider.in/stock-market/news/us-stocks-climb-higher-in-first-trading-session-of-2021/articleshow/80100896.cms">US stocks declined in the first trading</a> session of 2021 on Monday as investors weighed another spike in virus cases. The Dow Jones Industrial Average closed 382 points lower, and the S&amp;P 500 was down 1.48%. These are the stocks to watch out for during the trading session today: HDFC Mortgage lender HDFC said its disbursements in the individual loan category have grown by 26% during the third quarter ended December 2020. Tech Mahindra Reports indicate that Tech Mahindra may partner Reliance Jio to provide 5G solutions to the world. Tech Mahindra <a href="https://www.business-standard.com/article/companies/tech-mahindra-may-partner-reliance-jio-to-provide-5g-solutions-to-world-121010401357_1.html">said it does not see </a>Jio as competition but rather as an ‘expansion of the industry’ through partnership. Larsen &amp; Toubro (L&amp;T) L&amp;T’s subsidiary has bagged an order worth over ₹7,000 crore from HPCL Rajasthan Refinery, a joint venture between Hindustan Petroleum Corporation (HPCL) and Government of Rajasthan, for setting up a dual feed cracker unit. Bajaj Finance In a stock exchange filing, Bajaj Finance informed its investors that the company added 6 million new loans in the third quarter-ended December 31 as compared to 7.7 million in the same period a year ago. The total deposits of the non-banking financial company (NBFC) rose by 17% to ₹23,800 crore in Q3 (year-on-year). Sun Pharma Sun Pharma has initiated phase two clinical trial for a product being developed to treat patients with moderate to severe plaque psoriasis. The study includes 240 subjects and results are expected in 2022. KNR Construction KNR Construction has bagged orders worth ₹603.63 crore from Project Director, Highways (FAC), Chennai Kanyakumari Industrial Corridor Project. The project will be completed within 39 months from the appointed date. Jindal Saw The board of directors of Jindal Saw will be meeting on January 11 to consider the proposal for issuance of non-convertible debentures (NCD) on private placement basis. IIFL Securities A wholly-owned subsidiary of IIFL Securities, IIFL Insurance Brokers has received insurance regulator’s permission for undertaking insurance e-commerce activities in India through Insurance Self Networking Platform. National Fertilizers National Fertilizers has achieved its highest ever production of 9.99 lakh MT urea in the third quarter ended December 31. The plants at Nangal and Panipat achieved their best production during October-December 2020. Edelweiss Financial Services Edelweiss Financial Services raised over ₹240 crore through the issuance of non-convertible debentures (NCDs). SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-says-it-has-absolutely-no-plan-to-enter-contract-farming-urges-government-to-stop-vandalism-amidst-ongoing-farmers-protests/articleshow/80091733.cms" data-type="tilCustomLink">Reliance says it has 'absolutely no plan' to enter contract farming — urges government to stop vandalism amidst ongoing farmers' protests</a> <a href="https://www.businessinsider.in/stock-market/news/big-money-chasing-bitcoin-takes-the-cryptocurrency-to-a-new-record-high-of-34000/articleshow/80090730.cms" data-type="tilCustomLink">Big money chasing Bitcoin takes the cryptocurrency to a new record high of $34,000</a>

Top stocks to watch — HDFC, Tech Mahindra, L&T, Bajaj Finance, IIFL Securities, Sun Pharma, and others

Gold loan providers in India face a rise in robberies as gold prices rise

<ul><li>Fedbank intends to raise ₹1,092 crore from the initial public offer.</li><li>Investors can bid for a minimum of 107 shares and in multiples thereafter.</li><li>It plans to use net proceeds to augment Tier-I capital base and others. </li></ul>The initial public offer (IPO) of Fedbank Financial Services will open for subscription on November 22 and close on November 24. Its price band has been fixed at ₹133-140 per equity share. Investors can bid for a minimum of 107 shares and in multiples thereafter. The company intends to raise as much as ₹1,092 crore via the IPO. The issue comprises a fresh issue aggregating up to ₹600 crore and an offer for sale by promoter Federal Bank, and selling shareholder of True North Fund VI LLP I. The Reserve Bank's circular increasing the risk weights on unsecured lending will increase the borrowing costs, but the negative market sentiment will not impact the offering, Managing Director and Chief Executive Officer Anil Kothuri told reporters at its IPO press conference. The non-banking financial company (NBFC) plans to utilize the net proceeds from the fresh issue towards augmenting its Tier – I capital base to meet future capital requirements, arising out of the growth of its business and assets. ICICI Securities, BNP Paribas, Equirus Capital Private and JM Financial are the book running lead managers to the Issue. The company &amp; financials It’s a retail focused non-banking finance company (NBFC) promoted by The Federal Bank. It has 584 branches, and is focussed on MSME loans, gold loan and more. It is one of the five private bank promoted NBFCs in the country. As on March 31, 2023, it has the third fastest assets under management (AUM) growth among NBFCs in the peer set in India. Its AUMs grew at 33% CAGR (compounded annual growth rate) between FY20 and FY23. Its AUMs stand at 94,34 crore as of end of June 2023. Its total revenues grew by 37% and 26% in FY23 and FY22 respectively. Its profit also grew by 74% and 67% during the same periods. As of June 30, 2023, its Gross non-performing assets (NPA) and Net NPA were at ₹189 crore and ₹147 crore, respectively. Its listed peers in the market are Aptus Value Housing, IIFL Finance, Five Star Business Finance, Manappuram Finance, Muthoot Finance and SBFC Finance. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,178 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹869 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹691 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹180 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹103 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61.6 crore </td></tr></tbody><tbody></tbody></table>Source: RHP Risk factors As much as 93% of its gross AUMs are concentrated around six states and two union territories of Gujarat, Maharashtra, Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Puducherry and Delhi. Any adverse developments in these regions could have an adverse effect on its business. It has a concentration of loans to emerging self-employed individuals and MSMEs accounting to 45% and 64.7% of its loan profiles, respectively. The risk of non-payment or default by our borrowers may adversely affect our business, results of operations and financial condition, it says. Since it handles high volumes of cash and gold jewelry in a dispersed network of branches, it’s exposed to operational risks, including employee negligence, fraud, petty theft, burglary and embezzlement. Its inability to maintain capital adequacy ratio, meet its financial and other covenants under our debt financing arrangements; and deterioration in receivables may adversely impact its financial performance. The company has undertaken 1,625 criminal proceedings amounting to ₹363 crore. It has three criminal proceedings against it, along with three tax proceedings, and one regulatory proceeding amounting to ₹46 lakh. The promoter has undertaken 61 criminal cases against it, with two material civil litigations amounting to ₹1,601 crore. The promoter also has one criminal case, 12 tax cases, one disciplinary action by stock exchanges/SEBI and two material civil litigations amounting to ₹17,41 crore. (With PTI inputs) SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/tata-technologies-ipo-to-open-on-november-22-price-band-fixed-at-475-500/articleshow/105261065.cms">Tata Technologies IPO to open on November 22, price band fixed at ₹475-500</a> <a href="https://www.businessinsider.in/stock-market/news/ireda-ipo-to-open-on-november-21-price-band-fixed-at-30-32/share/articleshow/105263776.cms">IREDA IPO to open on November 21, price band fixed at ₹30-32/share</a>

Fedbank Financial Services IPO to open on November 22; price band fixed at ₹133-140/sh

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IIFL Finance emerges as second largest gold loan NBFC

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Gold loan providers in India face a rise in robberies as gold prices rise

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Fedbank Financial Services IPO to open on November 22; price band fixed at ₹133-140/sh

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