Poonawalla Fincorp, the non-banking arm of the vaccine major Cyrus Poonawalla Group, on Wednesday announced sale of its housing subsidiary Poonawalla Housing Finance to private equity major TPG for Rs 3,900 crore. The transaction, subject to regulatory approvals, is being carried out by TPG global arm Perseus SG, the statement said, adding the deal will [...]
General Atlantic Singapore Fund PTE sold a stake in IIFL Wealth Management. However, its shares were in the green. They were trading at ₹ 1826.65 apiece at 11:47 AM on Wednesday. According to the bulk deals data available on the National Stock Exchange (NSE), General Atlantic Singapore Fund PTE sold 31,15,981 shares of the company [...]
Mahindra & Mahindra Ltd on Wednesday said it will invest Rs 10,000 crore in the next 7-8 years in the manufacturing and development of electric vehicles at Pune, Maharashtra. The investment of Rs 10,000 crore for electric vehicles has been approved under the Maharashtra government's industrial promotion scheme for electric vehicles, M&M said in a [...]
Proxy advisory firm IiAS has said that One97 Communications share buyback plan is essentially a return of equity capital to its shareholders as the company has been reporting cash losses every year, while the digital financial services firm said that it remains focussed on building long-term value for stakeholders. Institutional Investor Advisory Services (IiAS) on [...]
Shareholders of Kirloskar Brothers Ltd have rejected a resolution for forensic audit of the affairs of the company by an external agency, according to a regulatory filing on Monday. On December 8, an extraordinary general meeting of the company's shareholders was convened following requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul [...]
Oil and Natural Gas Corporation Ltd proposes to drill 53 exploratory wells in Andhra Pradesh- 50 in Godavari on-Land PML (Petroleum Mining Lease) Block of KG Basin and three in CD-ONHP-2020/1 (OALP-Vi) Block Of Cuddapah basin with an investment outlay of Rs 2,150 crore. Andhra Pradesh State-Level Environment Impact Assessment Authority (SEIAA) in a meeting [...]
Adani Green Energy Ltd on Thursday said it has raised 27,954 million Japanese Yen (around Rs 1,630 crore) through its subsidiary Adani Solar Energy AP Six to refinance its existing indebtedness. The project loan facility is supported by MUFG Bank and Sumitomo Mitsui Banking Corporation with equal participation, a company statement said. “This is an [...]
The Committee of Creditors (CoC) of debt-ridden Reliance Capital is not in the favour of all binding bids that it received from the bidders, sources said on Wednesday. According to the sources, the lenders are of the opinion that the bid value offered by the bidders is too low. The CoC is likely to ask [...]
Wind energy solutions provider Inox Wind on Tuesday said the company and its arm Inox Green Energy Services have paid debts of ₹ 411 crores. The Inox GFL group has initiated strategic action to deleverage its Wind business. Inox Wind has paid ₹ 161 crores, while Inox Green has paid ₹ 250 crores towards reducing [...]
A Kotak Mahindra Bank arm on Tuesday announced that it has invested Rs 550 crore in Sanghi Industries Group by subscribing to non-convertible debentures of the cement-making company and its promoter grouping. Kotak Special Situations Fund's infusion will correct Sanghi Industries' capital structure, help the company's liquidity profile, and enhance its operations, according to a [...]
