Industry News

A bullish case for cement stocks? [Mint, New Delhi]
State Bank of India's maiden dollar Additional Tier-1 bonds issue. AT-1 instruments are bonds having equity-like perpetual existence, but they also pay a regular fixed coupon like any other debt instrument. These hybrid bonds enable banks to raise crucial Tier-1 capital and cannot be more than 2% of their total capital base."/>
SBI opens dollar AT-1 door but peers won't get a toehold [Mint, New Delhi]
IDFC Bank Ltd have gained nearly 70% in the last eight weeks on the back of better growth prospects and the possibility of a merger with parent IDFC Ltd.. On Wednesday, the bank gained 8.66%, touching a record high of Rs.83.45 a share. Since 3 August, IDFC Bank has surged 70.48% compared to a 4.5% gain for the Bank Nifty index."/>
What's driving the rally in IDFC Bank shares? [Mint, New Delhi]
State Bank of India's third Banking& Economics Conclave."/>
PSU banks need to do better succession planning: S.S. Mundra [Mint, New Delhi]
Boston Herald The Ticker column [Boston Herald]
RBL Bank Ltd has raised Rs330 crore from CDC Group Plc, a UK-based development finance institution, a press statement said. The bank had raised Rs1, 211 crore in its initial public offering in August. The Tier-II capital is expected to help the lender strengthen its capital base to meet future requirements and comply with guidelines set by the Reserve Bank of India."/>
RBL Bank gets Rs330 crore from UK's CDC Group [Mint, New Delhi]
Bharat Financial Inclusion Ltd on Tuesday raised Rs.750 crore through a qualified institutional placement. It sold approximately 9.74 million new shares at Rs.770 per share. The share sale was subscribed multiple times, it said, without giving details."/>
BRIEF: Bharat Financial raises Rs750 crore through QIP [Mint, New Delhi]
Reliance Capital Ltd, introduced his son Anmol Ambani to the firm's shareholders at the annual general meeting on Tuesday. Anmol was inducted as executive director last month. Ambani, who introduced Anmol as the grandson of Dhirubhai Ambani, said he had been lucky for the firm and its investors as its stock price had rallied since the 24- year-old was named executive director in late August."/>
Anil Ambani says son Anmol has brought Reliance Capital tremendous luck [Mint, New Delhi]
Max Financial Services Ltd have cleared a proposal to pay a Rs850 crore non-compete fee to Analjit Singh and other promoters of the Max group. This was a pre-requisite to the firm's three-way merger with its unit Max Life Insurance Co. Ltd and HDFC Life Insurance Co. Ltd.. Around 65% of the votes polled were in favour of the resolution to pay the non-compete fee, said a Max Financial notice to the stock exchanges on Tuesday."/>
HDFC Life-Max merger: Max Financial shareholders agree to non-compete fee [Mint, New Delhi]
Baltimore takes up taxes on Airbnb bookings [The Baltimore Sun]
Summit State Bank, has become the new CEO of Summit Bank, the Oakland bank announced Tuesday. The two banks are distinct, though similar in name. Duryea led the Santa Rosa bank for eight years before resigning in April under pressure from its largest shareholder, board member Marshall Reynolds, who wanted better growth."/>
BRIEF: Tom Duryea becomes CEO at Summit Bank in Oakland [The Press Democrat, Santa Rosa, Calif.]
Outerwall, best known for its Redbox DVD kiosks, became a private company Tuesday after the completion of its acquisition by private equity firm Apollo Global Management. Erik Prusch, CEO of the Bellevue company, is departing as part of the deal, which was first announced in July. The acquisition is valued at $1.6 billion, or $52 per share."/>
BRIEF: Outerwall closes deal that takes it private [The Seattle Times]
Valley Commerce Bancorp, headquartered in Visalia, plans to merge with CVB Financial Corp. of Ontario. Valley Commerce Bancorp is the parent company of Valley Business Bank, which operates branches in Fresno, Visalia, Tulare and Woodlake. CVB Financial is the holding company for Citizens Business Bank."/>
SoCal company to acquire Visalia-based Valley Business Bank [The Fresno Bee]
Goldman Sachs BDC, Inc. announced today that it has agreed to sell in an offering of $100 million aggregate principal amount of 4.50% convertible notes due 2022. The Company has also granted the initial purchasers an option to purchase up to an additional $15 million aggregate principal amount of the Convertible Notes to cover over-allotments, if any. The Convertible Notes will be offered and sold only to qualified institutional buyers pursuant to Rule 144 A under the..."/>
Goldman Sachs BDC, Inc. Prices $100 Million Offering of Unsecured Convertible Notes

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