Just go to any ATM and check available balance.Available balance for withdrawal should be Total Balance- Amount blocked for ASBA.You can check the same online also through net banking.
Due you need the forms sent by Can fin to avail ASBA Facility? I was at ICICI Bank listed Branch in Aundh and they had no clue and made all kinds of excuses after 45 minutes. Please share your experience if any in Pune
I went to kotak bank and filled up through asba,they need the application form no for filling up in the ASBA module.when the bank staff logs into the asba module one can see the canfin rights issue.the ban staff has to feed the demat account details,the amount ,your application number and your bank account number.The amount gets blocked.Although the manager said the application form is not required,i insisted on the application form being sent to their back office in mumbai.You have to complete the application form with pan details and your account number.Take a recieved stamp on the counterfoil from the bank.You will recieve an sms/email for the blocked asba amount.maybe try at another branch or ask the manager to speak to the backoffice/asba transaction team at their head office.I have my account with icicidirect but they seemed to be clueless,kotak finished the job in fifteen minutes.this experience is not in pune,just my experience.
Hi Vamsi
I am using ICICI LAS account and they couldnt even clarify on process of pledging additional shares. It took my couple of weeks. So these things are “beyond their scope”
Hi Vamsi,
You can try at Chinchwad ICICI Bank. I inquired there, they confirmed the same to me. There was a lady on the counter who said the amount would be blocked in your ICICI account. She also showed me few filled forms on her desk.
I tried at Yes Bank @ hinjewadi… on thursday 26th Feb, they said that it is past behind 2:00 as he got the information from mumbai the last date for them was 26th… ( strange )
He asked me to go to HDFC bank @ hinjewadi but they had no clues on what is rights issue.
I went to ICICI aundh @ evening and she directed me to ICICI Bund Guarden…
Finally today morning… just went to HDFC Bank, Model colony… official collection center… they processed it smoothly… no questions asked… they were aware of the all the stuff. Even helped me with the ASBA stuff… ( but it was not bank branch on 4th floor there have separate processing for this )
Hello All,
Subcription details available in BSE,
As per the BSE website,only BSE is designated for the Right issue, bid quantity is less than the issue quantity. But details about ABSA and NON-ABSA details are not available in the same
Regards,
Anbu
When are we expected to get the allotment details ?
ASBA money deducted from Bank Account. Back calculating from the debit, seems 11% of entitled shares allotred additionally. Demat credit should happen in one or two days, I guess.
~ Bramha
@bramha you’re right. I calculated it as 14.8% shares of total entitled shares were alloted additionally.
Seeing the allocation for me now! Got only 10% additional allocation.
Yes. ASBA money got deducted and 10% of entitled shares allocated additionally.
Didnt get the any post about this and was off markets… guess I missed the Rights Issue… Sucks!!!
Hi,
Received 10% of additional shares.
Can we say that we are in profit of 170Rs per new allocated share (620CMP - 450 Rights issue price) ?
Expect our loan book size to be around Rs 11,000 cr by next year: C Ilango, CanFin Homes
Folks, Any idea on when the rights shares will be credited to our holdings?
| As per
Mr.Ilango in a recent interview,Loan book of Can Fin Homes will touch Rs.11000 crores by the next year.At the current Return on Assets of 1.52%,it will generate a net profit of Rs.167 crores. Assuming no further equity dilution,the current outstanding shares after the recent rights issue turns out to be 2.65 crores.So,the EPS turns out to be 63. At PE of 20,it would double from the current level to Rs.1300.At a PE of 10,no profit/no loss. If the markets get depressed and if it trades at a PE of 5,price would be 50% down from the current level. Now let us look at the book value. If we multiply the leverage of 10 with RoA of 1.52%,we will get an RoE close to 16%.Usually markets assign a book value of above 2 to 3 times, if the RoE is above 15%.This year can fin's book value is set to touch Rs.350 and if it grows at 15%, next year the book value will touch Rs.400.At 3 times the book value,it would double from the current value. All these are extremely optimistic scenarios,I just did these calculations to get a hang of the valuations.More over,in one year nothing drastcially would change to significantly affects its 35% growth.Views invited. Invested and adding on dips. |
Hi Sambath
Your EPS and BVPS calculations though optimistic are not too deviated. I think ROA will be lower at around 1.3% which has been the average of last 3 years. As for ROE, it will also be lower considering the increase in equity through the rights issue. It will take some time for CanFin to deploy the newly raised capital. Given the changes in interest rates recently, CanFin will and should actively look to raise borrow through CP/deb where the cost of borrowing has gone down and will help improve the NIM for the company. By doing so, it will improve its ROA but impact the ROE as equity capital may not be fully deployed.
At current price, the downside is protected and one should expect returns in line with the increase in PAT. Given the performance metrics of the company I don’t think the company should trade BPVS>2
Disc: Invested
CanFin is rated AAA. It can not decrease its funding costs too much. The key is increasing its interest rate by lending to more profitable segments, which it started doing six months back. It will increase its LAP to 25% of portfolio. LAPs have more than double NIM of Home Loans. With decrease in Gsec rates, the margins may improve a bit too. NIM of RoA of 1.5% for FY16 might not be difficult. That is what Ilango has guided for too.
PE of 20 for HFC with national footprint growing at 35% pa may not be very expensive.