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Search results for altico

Deutsche Bank doubles down on Indian NBFC Altico’s debt
4 years, 11 months ago

Deutsche Bank doubles down on Indian NBFC Altico’s debt

Live Mint  

Deutsche Bank AG and Broad Peak Investment Advisers Ltd. bought more debt of an embattled Indian shadow lender, highlighting growing foreign interest in the discounted assets of the financier at the center of an evolving credit crisis. Deutsche Bank has almost doubled the debt it holds of Altico Capital India Ltd. to ₹300 crore in the last four months, while …

Deutsche Bank Indian Shadow Debt Deutsche
Altico NPAs swell nearly 40% of total credit in Dec, lenders trying to cut debt
4 years, 11 months ago

Altico NPAs swell nearly 40% of total credit in Dec, lenders trying to cut debt

Live Mint  

Lenders to Altico Capital India Ltd. are trying an unusual method to cut debt at the shadow lender, as attempts to sell the company or restructure the loans face challenges including swelling soured credit and a funding squeeze. Creditors have asked each other to bid for an asset swap that would make real estate firms, until now funded by Altico, …

Credit Debt Altico
NBFC crisis in India sparks gold rush for some lenders
5 years, 2 months ago

NBFC crisis in India sparks gold rush for some lenders

Live Mint  

As the shakeout in India’s credit market shows few signs of abating, one group of financiers is benefiting from the turmoil: shadow banks that provide loans in exchange for gold. That’s helped double the share price in the past year of Manappuram Finance Ltd., one such firm, while the stock of Muthoot Finance Ltd., the country’s largest cash-for-gold lender, has …

Finance India Gold Lenders
Altico Capital looks to raise ₹2,000 crore
5 years, 3 months ago

Altico Capital looks to raise ₹2,000 crore

Live Mint  

Altico Capital India Ltd, the real estate-focused lender that defaulted on interest payments in September, has proposed to sell loans worth around ₹2,000 crore as part of its debt resolution plan, two people directly aware of the development said. The Mumbai-based real estate lender has already identified the assets that it plans to sell as part of its resolution plan …

Plan Lenders Altico
Apollo Global to invest up to $150 million in Altico
5 years, 3 months ago

Apollo Global to invest up to $150 million in Altico

Live Mint  

Mumbai: Private equity firm Apollo Global Management has offered to invest up to $150 million in troubled real estate lender Altico Capital India Ltd, said two people aware of the development, requesting anonymity. As part of the initial talks with Altico’s lenders, Apollo Global expressed its interest to pick up a stake in the company, which could be worth $100-150 …

Global Crore Invest Lenders Apollo Altico
Altico in talks with Cerberus, Apollo, others to raise funds
5 years, 3 months ago

Altico in talks with Cerberus, Apollo, others to raise funds

Live Mint  

Real estate-focused lender Altico Capital India Ltd, which defaulted on interest payments, is in talks with private equity funds, including Apollo Global Management and Cerberus Capital, for a stake sale, according to two people aware of the development. Apollo Global and Cerberus are among the few private equity firms which Altico is in a serious conversation with, the second person …

Bank Capital Mint Lenders Raise Funds Its Lenders Altico
Altico says evaluating options after default
5 years, 3 months ago

Altico says evaluating options after default

Live Mint  

Altico Capital said on Sunday it was evaluating options to resolve its liquidity issues, following its recent default on an interest payment that was due earlier this month. Altico, backed by Clearwater Capital Partners and Abu Dhabi Investment Council, said it defaulted on the interest payment after a rating downgrade prompted several of its lenders to recall a substantial amount …

Altico
Altico Capital COO Sanjeev Agrawal takes charge after CEO’s sudden exit
5 years, 3 months ago

Altico Capital COO Sanjeev Agrawal takes charge after CEO’s sudden exit

Live Mint  

Altico Capital India Ltd’s chief operating officer Sanjeev Agrawal has taken charge of the stressed company following the sudden resignation of its chief executive Sanjay Grewal, last week, the real estate financier assured its investors on Sunday. Altico also urged stakeholders to give the company time to craft a plan that may maximize asset value and refrain from actions that …

India Company Coo Nbfc Takes Charge India Ratings Altico
Moody’s says Altico’s default credit negative for banks with exposure to realty
5 years, 3 months ago

Moody’s says Altico’s default credit negative for banks with exposure to realty

Live Mint  

Mumbai: Rating agency Moody's on Thursday said real estate financier Altico Capital India Ltd's default is credit negative for banks with significant exposure to real estate sector. Moody's also said banks such as Yes bank and Indusind Bank which have the largest direct exposure to commercial real estate would be susceptible to asset quality difficulties if the real estate sector …

Bank Estate Real Sector Banks Exposure Real Estate Sector
The gravity of Altico Capital’s default and what it tells us about realty sector
5 years, 3 months ago

The gravity of Altico Capital’s default and what it tells us about realty sector

Live Mint  

The default by Altico Capital, a lender focused on the real estate sector, has rudely reminded investors that non-banking financial companies are not out of the woods yet. The exposure to lenders, such as Altico, is treated as NBFC exposure by banks, but the risk is that of the real estate sector. Since Altico isn’t a lone story, the obvious …

Real Estate Estate Real Sector Banks Exposure Nbfc
SBI chairman Rajnish Kumar slams 'selfish' private sector bank for Altico Capital default crisis
5 years, 3 months ago

SBI chairman Rajnish Kumar slams 'selfish' private sector bank for Altico Capital default crisis

Firstpost  

State Bank of India chairman Rajnish Kumar has slammed a “selfish” private sector lender for the crisis at Altico Capital, as its unilateral move to secure its own money can potentially cause troubles to the wider financial system Leh: State Bank of India chairman Rajnish Kumar has slammed a “selfish” private sector lender for the crisis at Altico Capital, as …

India Bank Crore Sector Private System Kumar
SBI chief slams ’selfish’ private sector bank for Altico crisis
5 years, 3 months ago

SBI chief slams ’selfish’ private sector bank for Altico crisis

Live Mint  

State Bank of India chairman Rajnish Kumar has slammed a “selfish” private sector lender for the crisis at Altico Capital, as its unilateral move to secure its own money can potentially cause troubles to the wider financial system. According to reports, a leading private sector bank allegedly moved in to secure its exposure by “netting-off” money from a fixed deposit …

Bank Crore Sbi Altico
Altico Capital default hit debt funds, side pockets created
5 years, 4 months ago

Altico Capital default hit debt funds, side pockets created

Live Mint  

Mumbai: On 12 September, Altico Capital India Ltd, a real estate lender, failed to pay around ₹20 crore worth of interest on an External Commercial Borrowing that was due to Mashreq Bank a UAE based financial institution. Out of this, UTI Credit Risk Fund has a 200 crore exposure or about 5.69% of assets and Reliance Ultra Short Duration Fund …

Fund Mutual Reliance Sid Ultra Short Altico Pockets Created
Sachin Bansal invests in Altico, IndoStar Cap
5 years, 10 months ago

Sachin Bansal invests in Altico, IndoStar Cap

Live Mint  

Flipkart co-founder Sachin Bansal has invested ₹250 crore each, via debt, in non-banking financial companies Altico Capital India Ltd and IndoStar Capital Finance Ltd, two people familiar with the development said. The debt investments in non-bank lenders Altico and IndoStar shows that Bansal, who has so far invested from his billion-dollar fortune in technology startups, is now broadbasing his bets. …

Investment Mint Bansal Indostar Cap
Altico invests ₹570 crore in Bengaluru real estate projects
6 years, 1 month ago

Altico invests ₹570 crore in Bengaluru real estate projects

Live Mint  

Altico Capital India Ltd, a real estate-focused non-banking financial company, has invested ₹ 570 crore in the Bengaluru residential market. The NBFC has sanctioned ₹ 450 crore in debt financing across Assetz’s five projects, underwriting a saleable area of 6.3 million sq ft. With these transactions, Altico has invested around ₹ 1,000 crore in Bengaluru’s property market. The real estate …

Capital Projects Estate Real Nbfc Bengaluru Market Altico