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Jaguar Land Rover plc: Bond Valuation
S. Veena IyerCase IVEY-9B15N012-EFinance, StrategyJaguar Land Rover Automotive plc, a wholly owned subsidiary of the Indian company Tata Motors Limited, announced bond issue worth US$500 million. The proceeds of this issue were to be used to refinance costlier outstanding bonds. The company was able to raise new debt at substantially lower interest rates than its outstanding debt as a result of its sustained good performance, which led to strong company fundamentals and improved credit ratings. ...Starting at €8.20
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Flipkart: Valuing a Venture Capital-funded Startup
S. Veena IyerCase IVEY-9B14N018-EEntrepreneurship, Finance, StrategyThe Indian online retail (“e-tailing”) market had seen a flurry of activity. Success stories such as Makemytrip.com and Naukri.com in the travel and job search domains, respectively, were significant catalysts for this new breed of start-ups. Of these start-ups, Flipkart stood out as one of the most successful (and audacious) — more so because of the funding the company managed to secure over a very short period of time as compared to its competi...Starting at €8.20
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Catholic Syrian Bank: Valuing a Majority Stake in a Commercial Bank
S. Veena IyerCase IVEY-9B19N005-EFinance, StrategyFairfax Financial Holdings Limited (Fairfax), the Canadian insurance and investment company, made an offer in 2016 for a majority stake in the Catholic Syrian Bank Limited (CSB), a regional private bank in India. Despite its initial enthusiasm for the deal, the CSB rejected the offer because of low valuation. At the behest of the Reserve Bank of India, the CSB made a counter-offer to Fairfax for a majority stake at a substantially higher valuatio...Starting at €8.20
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Blue Ocean or Stormy Waters Buying Nix Check Cashing
Tufano, Peter; Ryan, AndreaCase HBS-210012-EFinanceKinecta Federal Credit Union has the opportunity to purchase Nix Check Cashing as part of their "blue ocean" strategy to reach the financially underserved and increase credit union membership and deposits. But they face financial as well as reputational risk. Check cashing, payday lending and other alternative financial services are maligned in mainstream financial circles. This case asks students to evaluate both organizations, their respective ...Starting at €8.20
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BASIX (Abridged)
Cole, Shawn; Tufano, PeterCase HBS-213035-EFinanceBASIX, an Indian microfinance corporation, must decide whether to continue to sell weather insurance to its clients. A brand-new financial product, weather insurance pays if measured rainfall during the growing season falls below a pre-specified limit. Mr. Sattaiah, managing director of the BASIX's bank, considers a revised insurance policy for the coming season, weighing the costs and potential risks of expanding the product against the potentia...Starting at €8.20
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First National Bank's Golden Opportunity
Cole, Shawn; Tufano, Peter; Schneider, Daniel; Collins, DarylCase HBS-208072-EFinanceExecutives at First National Bank in South Africa are considering whether to launch a potentially exciting, but rather unorthodox, new savings product. Instead of paying interest, this product gives depositors the chance to win large cash prizes each month. Michael Jordan, CEO of the bank's Consumer Solutions Division, must decide whether to approve the product, weighing the potential benefits against large upfront investment, uncertain market de...Starting at €8.20
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H&R Block 2006
Tufano, Peter; Roy, Arijit; McClintock, EmilyCase HBS-307091-EFinanceMark Ernst, the Chairman, CEO and President of H&R Block, has to decide how to respond to a competitive threat posed by a competitor's refund lending product. Block is the largest U.S. tax preparation firm, which competes not only on its tax preparation services, but also through the provision of related financial services. A rival offers a pre-season refund lending product that has drawn away Block customers. Ernst feels that the product as stru...Starting at €8.20
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Metro do Porto: An Interest Rate Swap
S. Veena Iyer; Anshul JainCase IVEY-9B16N011-EFinance, StrategyIn January 2007, Metro do Porto, a light rail network, entered into an interest rate swap agreement with Banco Santander Totta on a notional principal of €89 million. The intent was to reduce the interest costs that Metro do Porto was incurring. This was a complex swap agreement that brought immediate benefits to Metro do Porto but proved catastrophic in the long run. Two years after the swap commenced, a “snowball clause” in the swap agreement t...Starting at €8.20
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Catholic Syrian Bank: Valuing a Majority Stake in a Commercial Bank - Teaching Note
S. Veena IyerTeaching Note IVEY-8B19N005-EFinanceTeaching note for product 9B19N005.Starting at €0.00
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Metro do Porto: An Interest Rate Swap - Teaching Note
S. Veena Iyer; Anshul JainTeaching Note IVEY-8B16N011-EFinanceTeaching Note for product 9B16N011.Starting at €0.00