BUSINESS
Cube Highways front runner to acquire NIIF road portfolio for $775 mn enterprise value
If concluded, this will be the first exit by NIIF, which began operations in 2019. This will also be the second-biggest road portfolio sale this year.
BUSINESS
KKR, Canadian pension fund set to pump in up to Rs 3,000 crore in HIT
The investment will be utilised towards funding the acquisition of a portfolio of 12 roads from PNC Infratech for an enterprise value of Rs 9,000 crore.
BUSINESS
Bharti Group raises $1.8 bn debt from Barclays for BT stake buy; may rope in more lenders
On August 13, Bharti announced that it would acquire a 24.5% stake in BT for a sum of 3.2 billion pounds ($4 billion), from the British telco’s biggest shareholder Patrick Drahi’s Altice group.
BUSINESS
Tower InvIT Data Infra Trust to raise Rs 6,600 cr from Brookfield, GIC, British Columbia for ATC deal
Data Infrastructure Trust on January 4 had announced that it will acquire ATC’s India telecom business comprising 78,000 towers for an enterprise value of Rs 16,500 crore
BUSINESS
Ola Electric, FirstCry IPOs give i-banks a fat Rs 241 cr payday
The fee income earned by bankers from these two IPOs represent almost 20 percent of the total IPO fee income in 2024, with the total fee earnings so far standing at Rs 1,214 crore across 44 IPOs.
BUSINESS
Adani Enterprises likely to launch maiden retail NCD offering this month, QIP in early September
On July 25, Adani Enterprises filed a draft prospectus with stock exchanges for raising Rs 600 crore through a public offer of non-convertible debentures. In May, the board of Adani Enterprises approved a proposal to raise up to Rs 16,600 crore through the QIP route.
BUSINESS
Afcons drops loan repayment plan to Shapoorji firm after Sebi questions use of IPO proceeds
The development highlights the increased scrutiny of IPO documents by the market regulator. A buoyant primary market is attracting a record number of companies to attempt a public debut .
BUSINESS
HUL is the best pick for anyone looking to invest in the long-term growth story of India and FMCG industry: Rohit Jawa
Despite short-term challenges, Jawa expressed confidence in HUL's long-term potential, driven by India's expanding consumer market and innovation across core and emerging categories.
BUSINESS
Quick commerce is now one-sixth of HUL’s e-commerce sales, says CEO Rohit Jawa
The HUL CEO pointed out that Q-commerce growth is being led by convenience driven categories such as food and personal care.
BUSINESS
The trend of premiumization has been consistent and resilient and will continue: HUL CEO
Premium growth is outpacing total growth by nearly two times at HUL.
BUSINESS
Our priority is to grow our core brands or introduce Unilever brands to the market: HUL CEO
Over time, we have traditionally acquired brands that met our criteria of complementarity, where we believed we had the right to win, and were available at a good value, said Jawa
BUSINESS
Japan interest rate hike, US recession fears may make offshore borrowing difficult for Indian corporates
Domestic companies had just begun tapping the offshore debt market this year, following very little activity in the last two years on account of the US Fed raising interest rates in the wake of the Russia-Ukraine conflict and global inflation. The new developments could prove a dampener.
BUSINESS
Political turmoil in Bangladesh puts spotlight on Adani Power's $90-mn monthly supply contract
'Adani Power continues to supply power to the Bangladesh power utility without any disruption. Going forward, too, we will remain guided by BPDB's (Bangladesh Power Development Board) schedule and as per the provisions of the PPA between two utilities,' a spokesperson for the Adani group said.
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
