Comments on Embrace with joy life's "one damn thing after another"TypePad2013-06-25T04:50:39ZBrian Hineshttps://hinessight.blogs.com/church_of_the_churchless/tag:typepad.com,2003:https://hinessight.blogs.com/church_of_the_churchless/2013/06/embrace-with-joy-lifes-one-damn-thing-after-another/comments/atom.xml/Mike Williams commented on 'Embrace with joy life's "one damn thing after another"'tag:typepad.com,2003:6a00d83451c0aa69e201901de70c26970b2013-06-26T23:06:18Z2013-06-27T03:19:06ZMike Williamshttp://www.birminghamstar.com/index.php/sid/215460898/scat/3a8a80d6f705f8cc/ht/Customers-Bancorp-picks-up-equity-stake-in-Religare-Enterprises Customers Bancorp picks up equity stake in Religare EnterprisesBirmingham Star Wednesday 26th June, 2013 • The deal will see...<p><a href="http://www.birminghamstar.com/index.php/sid/215460898/scat/3a8a80d6f705f8cc/ht/Customers-Bancorp-picks-up-equity-stake-in-Religare-Enterprises" rel="nofollow">http://www.birminghamstar.com/index.php/sid/215460898/scat/3a8a80d6f705f8cc/ht/Customers-Bancorp-picks-up-equity-stake-in-Religare-Enterprises</a></p>
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<p>Customers Bancorp picks up equity stake in Religare EnterprisesBirmingham Star Wednesday 26th June, 2013</p>
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• The deal will see Customers Bancorp pick up 5 per cent equity stake in Religare at the close of these transactions</p>
<p>• Religare promoters billionaire brothers Malvinder Mohan Singh and Shivinder Mohan Singh had recently agreed to dilute stake to be eligible to set up a non-operative financial holding company</p>
<p>• The RBI guidelines requires 51% of an aspiring bank's financial holding company to be owned by the public.</p>
<p>The RBI guidelines requires 51% of an aspiring bank's financial holding company to be owned by the public. </p>
<p>Brothers Malvinder and Shivinder Singh own 71.75% stake in REL, which will be the non-operative financial holding company that will float the bank. The stake sale to CUBI will pare their holding in REL to 66-67%.</p>
<p>Overall, CUBI will purchase promoter shares worth $22 million in rupee terms and invest another $28 million in share warrants to be issued by REL that can be converted into equity in 18 months. It will buy shares worth another $1 million from REL.</p>
<p>REL will issue the share warrants on a preferential allotment basis as per capital market regulator Securities and Exchange Board of India's (Sebi's) "floor price and as per applicable law", the companies said.</p>
<p>"We are delighted to have Customers Bancorp Inc. as an investor at Religare. CUBI's management team expertise in global banking will be extremely supportive in our banking foray," said Sunil Godhwani, CMD, Religare Enterprises, in a statement on Wednesday.</p>
<p>"We are confident that the proposed association will further strengthen Religare's endeavour to create a distinctive and diversified financial services conglomerate that believes in the Indian market's long term growth potential.</p>
<p> The deal will see Customers Bancorp pick up 5 per cent equity stake in Religare at the close of these transactions</p>
<p>• Religare promoters billionaire brothers Malvinder Mohan Singh and Shivinder Mohan Singh had recently agreed to dilute stake to be eligible to set up a non-operative financial holding company</p>
<p>• The RBI guidelines requires 51% of an aspiring bank's financial holding company to be owned by the public.</p>
<p>"We are confident that the proposed association will further strengthen Religare's endeavour to create a distinctive and diversified financial services conglomerate that believes in the Indian market's long term growth potential. "</p>
<p>The sale may still not ensure a bank licence. "Though these measures will help Indian companies to equip for banking licence, one will have to wait and watch about which are the companies that are getting in-principle approval from RBI," saidVaibhav Agarwal, vice-president of research at Angel Broking Ltd.</p>
<p>Several conglomerates and non-banking finance companies (NBFCs) in India have shown interest in floating banks.</p>
<p>On Wednesday, Reliance Capital Ltd announced it will sell 4-5% stake each to Sumitomo Mitsui Trust Bank Ltd and Nippon Life Insurance Co. to be eligible for a bank licence. Magma Fincorp Ltd has also announced its keenness on promoting a bank.</p>
<p>Among other aspirants are LT Finance Holdings Ltd, India Infoline Ltd, Videocon Industries Ltd, Aditya Birla Finance Ltd,LIC Housing Finance Ltd, Shriram Transport Finance Co. Ltd, Bandhan Financial Services Pvt. Ltd, Janalakshmi Financial Services Pvt. Ltd, Tata Capital Ltd, Muthoot Finance Ltd, IDFC Ltd, India Infrastructure Finance Co.</p>
<p>• The deal will see Customers Bancorp pick up 5 per cent equity stake in Religare at the close of these transactions</p>
<p>• Religare promoters billionaire brothers Malvinder Mohan Singh and Shivinder Mohan Singh had recently agreed to dilute stake to be eligible to set up a non-operative financial holding company</p>
<p>• The RBI guidelines requires 51% of an aspiring bank's financial holding company to be owned by the public.</p>
<p>Ltd, Tata Capital Ltd, Muthoot Finance Ltd, IDFC Ltd, India Infrastructure Finance Co. Ltd, Bajaj Finserv Ltd, SKS Microfinance Ltd and Srei Infrastructure Finance Ltd..</p>cc commented on 'Embrace with joy life's "one damn thing after another"'tag:typepad.com,2003:6a00d83451c0aa69e20192aba2ea1c970d2013-06-26T15:45:11Z2013-06-27T03:19:06Zcc"why not embrace life in all of its fullness, rather than trying to shrink it down to a bare-bones skeleton?"...<p>"why not embrace life in all of its fullness, rather than trying to shrink it down to a bare-bones skeleton?"</p>
<p>We can't embrace what we can't shrink from, so it isn't a this-or-that situation. Nothing can be eliminated or added, so it's more a matter of realizing where eveything goes than of deciding what to do. </p>