HB LEASING AND FINANCE CO. LTD.Regd. Office: Plot No .31, Echelon Institutional Area, Sector - 32, Gurgaon -122001 (Haryana)Ph. : 0124-4675500, Fax: 0124-4370985, E-mail : corporate@hbleasing.comWebsite: www.hbleasing.com. CIN No. L65910HR1982PLC034071

HBLF/2019-20 Listing Centre

December 04,2019

The Listing DepartmentBombay Stock Exchange Limited,Phiroze Jeejeebhoy Towers,Dalal Street, FortMumbai - 400001

Company Code: 508956

Subject: . Newspaper Publication - Notice of Board Meeting

Dear Sir I Madam,

Please find attached copy of Board Meeting Notice published in Business Standard (English & HindiEdition) on Wednesday, 04th December, 2019. Copy of the said publication is also available on the websiteof the Company, www.hbleasing.com .

You are requested to take the above information on record and oblige.

Thanking you,

Yours truly,For HB Leasing and Finance Company Limited

~~aLakshay Vaid • •.(Company Secretary & Compliance Officer)

Business Standard NEW DELHI I WEDNESDAY, 4 DECEMBER 2019

KKRputs off planto float f5K-crore.India credit fundRAGHAVENDRA KAMATHMumbai,3 December

+

Global investment firmKKR has decided toput off its plans to float

a t5,000-crore India-focusedcredit fund, said people in theknow. They said the macro

. environment was "not con-ducive" to launch the fund.

KKR,which manages $208billion of assets globally, hadmet a few big global investorsfor the fund in the middle of2019 as part of its roadshows.

"The macro-environmentis not conducive. Credit flowin the country is choked andcompanies are finding it diffi-cult to get working capital.Tnthis scenario, they (KKR)felt itis prudent to wait for the timebeing," a source said. "Banksare battling their own issues.Co-investing with them is alsoa challenge".

When contacted, a KKRspokesperson said: "We aren'table to comni.ent on fundrais-.ing plans or speculation."

The source quoted earliersaid that the fund manageris closely looking at themacro-economic situationand the liquidity scenariobefore raising the creditfund. "They want to see therisk-reward situation over thenext 12-18 months beforethey raise any major fund,"said the source, adding, afterthe CG Power episode, thefirm has learnt that doingdue diligence in listed com-panies was difficult.

In September, KKRacquired a 10 per cent stakein CG Power by invoking thepledge on shares provided ascollateral for credit facilitiesextended to entities related topromoter Gautam Thapar as

the rating agency cited "dete-rioration in the standalonecredit profile marked byexpected pressure on assetquality and its consequentimpact on the earnings pro-file and capitalisation met-rics" for the downgrade.

OVerthe last three financialyears, KKRIndia Finance's loanbook has grown ata CAGR(compound annual growth rate)of35 per cent to t5,694 crore, ason March 31, according to theCRISIL report. The loan book

. stood at nearly t5,878 crore ason June 30, 2019.

KKR also runs an NBFCfocused on real estate in thecountry where Singapore's GICis a key investor.

Ashvin Parekh, managingpartner at Ashvin ParekhAdvisory Services, said:"Basically, the bets taken byinvestors in the last six monthshave not played out. The econ-omy is also on a slide for the lastcouple of quarters."

Parekh said investors' confi-dence will come back only aftergreen shoots in the economyand corporate spending. T"4~=-=--:-O=--:-"""""-=-==-:-""-='"'

Most NBFCs are stnJgglIrig;:;with their own issues post theInfrastructure Leasing &Financial Services default inSeptember last year. Whilemortgage lender DewanHousing Finance Corporationhas defaulted on interest pay-ments, real estate-focusedAltico Capital defaulted on itsdues, causing concerns in thefinancial markets. Even PiramalEnterprises has cut down onloans to developers and is diver-sifying its portfolio to derisk itsbook.

KKRhas $4 billion of assetsunder. management in thecountry, including $1.5in the credit business.

WAIT 'N' WATCH• OVerallmacrosituation, poor creditsupplysaidto bethemain reasons• C6 Power, em issuesalso prompted fundmanagertowait• KKRwatdlingtherisk-reward situationclosely in the country• KKRIndia FinancialServic::esCEOBV Krishnanquit recently• CRISILartthelQng-tenn debt ofKKRNBFCto'AA/Stable'

the promoter group could notrepay KKR. The CG Powerboard removed Thapar aschairman of the company onAugust 30. Cafe Coffee Day,another firm in which KKRhad invested, has beenselling assets to repay duesafter the death of its promot-er V G Siddhartha.

KKR also saw a couple ofmajor changes in its key man-agement personnel recently.BV Krishnan, chief executiveofficer (CEO) ofits non-bank-ing financial company (NBFC)KKRIndia Financial Services,quit, citing personal reasons.

Rating agency CRISILrecently cut the long-termdebt instruments and bankfacilities of KKR IndiaFinancial Services to'AA/Stable' from 'AA+/Stable'.

In a report dated October 1,

SBIMF,AtnVIVEAT SUSAN PINTOMumbai,3 December

SBI Mutual Fund (MF) and Amundihave picked up key stakes in the U,275-crore block deal executed by privateequity (PE) players Advent andTemasek on Tuesday in CromptonGreaves (CG)Consumer. While SBIMFacquired a 4.8 per cent stake forV50 crore, Amundi India picked up1.44 per cent for U25 crore,

Advent Intemational'sAmalfiaco and

Irdai.approves Tru51% stake bUY,inMax India on Tuesday saidthe Insurance Regulatory andDevelopment Authority ofIndia (Irdai) has approved thesale of its 51per cent stake inMax Bupa Health InsuranceCompany to private equityfirm True North.

With the deal getting regu-latory approval, Max India willexit the health insurance busi-ness. The all-cash transaction'

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