BUSINESS
Tech startup Infra.Market in talks to appoint i-banks for $300-400 million IPO
Founded by Souvik Sengupta and Aaditya Sharda in 2016, the Tiger Global, Accel and Nexus Ventures backed startup sells construction materials, infrastructure goods, and technical equipment.
BUSINESS
Adani Energy Solutions $1-bn QIP sees 6x demand; domestic MFs put in bids worth $325 mn
Moneycontrol first reported on July 30 that the Adani Energy QIP had evinced interest from global investors such as Rajiv Jain’s GQG Partners and Abu Dhabi’s sovereign wealth fund ADIA
BUSINESS
GQG, IHC, ADIA among likely investors in Adani Energy Solutions QIP
Among domestic investors, the QIP is likely to see participation from Bandhan Mutual Fund, and 360 One; some FIIs from US have also sown interest in the deal.
BUSINESS
Fractal Analytics may file DRHP next month; eyes $3 billion valuation for IPO
The IPO size is likely to be in the range of $500-600 million and will comprise a large share of secondary share sales by existing investors.
BUSINESS
We are going ahead with our EV investments in a phased manner: Amara Raja Executive director
The Hyderabad-based firm will begin the first phase of the 5 GWh battery pack assembly unit in the near term, says Harshavardhana Gourineni.
BUSINESS
I Squared, ADIA to sell up to $400 million stake in Cube Highways InvIT
The Cube InvIT's current assets under management stand at Rs 25,811 crore. The InvIT’s assets witnessed a 6.5 percent increase in traffic and an 11.9 percent increase in toll revenue from FY23 to FY24.
BUSINESS
What are variable capital companies that Budget talks about?
The VCC structure, gaining popularity among global investors, offer greater flexibility and versatility to fund managers. It can also take India closer to its ambition of emerging as a global financial hub, say experts
BUSINESS
India Inc welcomes Budget focus on infra, consumption growth and employment
Even as the FM announced a slew of measures to boost the economy, she did not lose focus on fiscal prudence and targeted a fiscal deficit of 4.9 percent of the GDP for 2024-25, significantly lower than the target of 5.1 percent pegged in the interim Budget.
BUSINESS
What Budget 2024 means for India Inc.
From infrastructure spending to boosting consumption through tax cuts and support for domestic manufacturing, Budget 2024 delivered on several fronts for corporates.
BUSINESS
ENGIE eyes monetization of Indian renewable energy portfolio
The French energy major currently has a portfolio of over 2.3 GW in India, of which about 1.1 GW is operational and another 1.25 GW is in various stages of development.
BUSINESS
Vedanta to use Rs 8,000-crore QIP proceeds to repay Oaktree, Deutsche, Union Bank
Vedanta plans to use the proceeds towards repaying Rs 17,470 crore it owes to the three lenders
BUSINESS
Adani eyes Jaypee cement assets through IBC
The insolvency proceedings against Jaiprakash Associates are expected to heat up competition in the fast-consolidating cement industry, which is seeing big players such as UltraTech, Adani, Dalmia and JSW Cement vie for assets across the country
BUSINESS
Puravankara planning $100-mn QIP as real estate firms tap markets for funding growth, reduce debt
Real estate developers have been tapping the markets to raise equity to shore up their balance sheets and reduce their dependence on debt funded growth of the past.
BUSINESS
Alvarez & Marsal plans big bet on India; to grow senior team 3x in next two-three years
The consulting firm, which has only recently invested in building a global capability centre in India, is also looking to scale up that team to 1,500 individuals over the next four to five years.
BUSINESS
Blackstone in advanced talks for controlling stake in Haldiram's
Blackstone, along with consortium partners Abu Dhabi Investment Authority and Singapore’s GIC - backers of Blackstone’s global funds - have been in talks with the Delhi and Nagpur-based members of the Agrawal family for the last few months, but differences over valuation of the business have delayed the negotiations.
BUSINESS
Adani Enterprises, Adani Energy Solutions may soon tap markets for QIPs
The two companies plan to use the proceeds to fund capex and growth plans as well as to repay certain borrowings of the company.
BUSINESS
Delhi-based hospital chain Paras Hospitals to file IPO DRHP before month-end
PE investor Creador is looking at a substantial exit through the IPO, the source said, adding that Paras is looking at raising around Rs 300 crore-400 crore in fresh capital, which will be used to fund capital expenditure and to repay debt.
BUSINESS
Singtel plans another stake sale round in Airtel via block deals: Sources
The next round could see the telco, owned by Singapore's sovereign wealth fund, sell shares worth Rs 20,000 crore in one or more block deals
BUSINESS
Actis-sponsored Nxt-Infra InvIT raises Rs 1,520 crore; Tata Investment Corp, L&T among investors
The fundraise also saw participation from various domestic institutional investors such as mutual funds, corporate treasuries and pension funds.
BUSINESS
Cello World to soon launch QIP to raise up to Rs 800 crore
The company plans to use the funds for various purposes including retiring debt and capital expenditure.
BUSINESS
Demerger plan retains flexibility for EV investors' exit: Tata Motors Group CFO
In October 2021, TPG Rise Climate and its co-investor ADQ announced an investment of Rs 7,500 crore in the EV business at a valuation of up to $9.1 billion.
BUSINESS
GMR’s Delhi International Airport looking to refinance Rs 2,500 crore debt
The company is in talks with lenders to raise this money to refinance part of its debt, which is due in October 2025, say sources, Net debt at Delhi International Airport Ltd stood at approximately Rs 12,500 crore, as of March 31, 2024.
BUSINESS
Vodafone Group planning to invest up to Rs 3,000 cr in Vodafone Idea after Indus stake sales
The British telecom company's plan to invest in Vodafone Idea follows the Indian telco's successful Rs 18,000-crore follow-on public offering in April
BUSINESS
Tagged as promoter of Snapdeal-backed Unicommerce eSolutions, SoftBank seeks indemnity rights from Kunal Bahl, Rohit Bansal
SEBI has increased scrutiny of IPO-bound companies, resulting in several instances where it has asked companies to reclassify members of promoter groups as promoters or asked investors holding concentrated bets to classify themselves as promoters.
