After Jio, Airtel too invests in ‘startup accelerator’ program

Telecom services provider Bharti Airtel said it was launching a new ‘start-up accelerator’ program aimed at finding and investing in promising start-ups. The company said the first investment has been made in a blue-collar job-search software from Bengaluru based tech startup Vahan. The size of the investment was not revealed. “Founded in 2016 and backed […]

Singapore-based Gamnat to invest Rs 1,000 cr in Godrej Properties

Real Estate player Godrej Properties said Singapore-based Gamnat Pte Ltd wil invest Rs 1,000 cr in the company. The investment will be carried out at  a share price of Rs 783.50, roughly equal to today’s opening price. Shares of the company shot up to Rs 813.55 after the news was announced, and are currently trading […]

Godrej Properties taps Fund Management to co-develop Godrej Two tower

Godrej Properties Ltd said Godrej Fund Management will invest into its ‘Godrej Two’ commercial building project in Vikhroli. Godrej Fund Management was set up by the real estate company three years ago primarily with the purpose of raising funds for its real estate projects. It is currently a separate and distinct entity. Financial details, such […]

Idea Cellular says QIP to reduce debt; looking to sell Indus stake

Idea Cellular, one of India’s largest telecom operators, said the recently concluded sale of its shares to institutional investors, along with a recent fund infusion by the promoter, will reduce its net debt by Rs 6,750 cr. “This equity raise of Rs. 3,500 crore along with recent infusion of Rs. 3,250 crore by Idea’s Promoter […]

EU to invest Rs 1,300 cr in India’s solar and wind power via Yes Bank

The European Investment Bank, the lending arm of the European Union, will invest $200 mln (Rs 1,283 cr) into the Indian solar and power sector via a deal with Yes Bank in order to support the growth of renewable energy in the country. The investment will be routed through a renewable financing program with Yes […]

Ruchi Soya Industries sold to Devonshire Capital

Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its ‘branded packaged oils distribution business’. The money will be substantially utilized for payment to all lenders over a period of time, it said. Devonshire will pay Rs 4,000 cr for the branded packaged […]

Mahindra Financial Services to raise 2,250 cr via share sale

Mahindra and Mahindra Financial Services said the company board has approved a proposal to raise up to Rs 2,250 cr by selling shares or instruments convertible to shares. It said a Securities Issue Committee has been set up to undertake decisions in relation to the proposed issuance. Mahindra & Mahindra Financial Services Limited (MMFSL) is […]

India sees record-breaking Private Equity inflows in 2017 – Study

The amount of money invested or committed by private equity firms in India reached an all time high in the first nine months of this year, said Venture Intelligence, a research firm tracking unlisted company financials, transactions and valuations. PE firms invested about $17.6 billion in Indian companies as of September, overtaking the previous record […]

Vivimed pharma unit gets Rs 270 cr investment from OrbiMed fund

Pharmaceuticals and specialty chemicals maker Vivimed Labs said investment firm OrbiMed will invest $42.5 mn (Rs 270 cr) into its active pharmaceutical ingredients business. The investment will be into Vivimed Labs Mascarene Ltd, which is in turn the holding entity of the company’s API business, UQUlFA. The proceeds of this fund raise will be utilised […]

InterGlobe Aviation to raise Rs 2,530 cr by selling shares to institutions

InterGlobe Aviation, the company that operates the country’s largest airline Indigo said the company would raise Rs 2,530 cr by issuing fresh shares. At the same time, existing shareholders of the company would raise Rs 1,265 cr by selling some of their shares as well, the company said. The total size of the offering would […]

Oriental Bank of Commerce to raise Rs 500 cr via bonds

State-owned Oriental Bank of Commerce said it intends to raise Rs 500 cr by selling bonds. “The Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs.10,00,000 each at par aggregating to Rs.500 crore with an option to retain over-subscription of up to Rs.500 crore,” […]

GMR closes funding for Mopa Airport, Axis Bank underwrites debt

GMR Goa International Airports Limited said it closed funding for the upcoming Mopa Airport in Goa, with Axis Bank underwriting the entire debt of Rs 1,330 cr. “Having tied up funding for the project, we are working towards starting on ground construction activity post monsoon,” said Srinivas Bommidal, chairman of GMR Airports. “We are confident […]