(Disclosure:I am market making in the shares of RBL Bank)
India’s RBL Bank has hired four banks to manage a planned $250 million share sale in the first initial public offering in nine years by a private sector lender in the South Asian country, said people with knowledge of the matter.
Kotak Mahindra Capital Co., Standard Chartered Plc, Citigroup Inc. and Morgan Stanley (MS) will work on the IPO due next year, the people said, asking not to be identified before a public announcement. The Kolhapur, Maharashtra-based lender counts London-based CDC Group Plc, International Finance Corp. and Norwest Venture Partners, which is financed almost entirely by Wells Fargo & Co., among its investors.
Proceeds from the sale may help the bank open more branches and allow Chief Executive Officer Vishwavir Ahuja to increase loans at a faster pace. The 71-year-old lender with assets of more than 180 billion rupees ($3 billion) and 175 branches as of March 31 is seeking to expand in the country where only 35 percent of the adult population has a bank account.-from Bloomberg
Month: August 2014
Categories
Linkfest:August 28,2014
Some stuff I am reading today morning:
Nirmal Singh Bhangoo:Owner of 1.83 Lakh Acres of Land (ET)
Is foreign investor interest in India likely to wane? (Mint)
Supreme Court tells DLF to pay Rs.630 Crores fine (BS)
3 Reasons why IPOs are always bad investments (SafalNiveshak)
Post Office Monthly Investment Scheme:Who should invest? (MyInvestmentIdeas)
Return to Behemoth Stocks (Aleph)
Why seasonality is secondary (AThrasher)
Attention Fund Managers: Generalizing the Kelly Criteria (BeyondProxy)
How hedge funds are making money in 2014 (ZeroHedge)
Active Vs Passive is the wrong question (Morningstar)
Categories
Do you understand your system?
Unless U understand the reason as to why your system makes money, its difficult to distinguish btw temporary setbacks & pernament impariment
— Prashanth (@Prashanth_Krish) August 27, 2014
Making students memorize the periodic table but teaching them almost nothing about basic finance is bad enough. But even at the college level, how finance and investing is taught is disconnected from how it actually works. Finance is taught overwhelmingly as a math-based field, in which students learn how to calculate beta by hand and dissect a balance sheet in their sleep. In the real world, finance is overwhelmingly a psychology-based field, where the best investors are those who control their emotions. This is rarely taught and never emphasized. And it’s why some of the world’s best investors have no formal finance training. Other fields, such as medicine and engineering, have done a much better job preparing students for the real world.-from Fool