RS 4000 CR
DVC to invest Rs 20,000 cr in solar energy projects by 2030
The Kolkata-headquartered corporation now has only 14 MW installed solar capacity and is executing a 348 MW project in association with NTPC. A 250MW/hour capacity of battery storage is also under consideration, he said.
Maharashtra govt set to clear Reliance Infrastructure arm's Rs 1,700 cr metro debt
The Eknath Shinde government appears to have abandoned its plans to acquire Metro 1. Instead, the state cabinet has directed the MMRDA's executive committee to explore settling Mumbai Metro One Pvt Ltd's (MMOPL) Rs 1,700 crore debt with its creditors through a one-time settlement. Metro 1, Mumbai's oldest corridor serving 4.6 lakh daily passengers, operates under a public-private partnership by the Reliance Infrastructure-promoted MMOPL, with MMRDA holding a 26% stake and R-Infra holding 74%.
Karnataka CM demands Rs 62 Cr from Govt as controversy over illegal allotment of plots to his family rages
Chief Minister Siddaramaiah demanded Rs 62 crore compensation for his family’s land taken by the government amidst controversy over 14 pricey plots allotted to them in Mysuru. Opposition BJP sought a CBI probe, accusing the CM of benefiting his family unfairly. Siddaramaiah defended the allotments, done during the BJP regime, denying any wrongdoing. The BJP alleged a Rs 4000 crore scam and called for arrests in the case.
Reliance Industries Invests Rs 4,330 cr in Retail Unit in FY24
Reliance Industries invested Rs 4,330 crore into its flagship retail company, Reliance Retail, in the past fiscal year, a shift from previous reliance on debt funding. The investment, made through its subsidiary RRVL, included both equity and debt. Reliance Retail transferred its supply chain assets to RLWH at a valuation of Rs 8,000 crore. This move aims to unlock value from assets and improve cash flow, following recent investments by ADIA and KKR in RLWH.
Acre ARC sells Nagarjuna Fertilizers and Chemicals debt to AM Green for ₹1,685 cr
Nagarjuna Fertilizers has successfully cleared its massive debt, positioning itself for a potential merger with AM Green to optimize brand and distribution synergies. The unresolved sale issues of its plant and business loom large, impacting the transfer of government subsidies.
Ummeed Housing Finance raises Rs 630 cr equity
Ummeed Housing Finance raises ₹630 crore in Series F round from investors including A91 Partners LLP and existing investors. Funds to be used for expansion in central and southern India.
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Paras Healthcare to file DRHP by June-end for Rs 1000-1200 cr IPO: Sources
The public issue is mainly aimed at giving exit to private equity (PE) investor Creador, the people told ET. A small share of the IPO proceeds will also be used for funding hospital network expansion, the people said, adding the IPO may value Paras at Rs 4000 -4,500 crore.
ACME ties up Rs 5,600 cr loan for green energy project in Andhra Pradesh
The projects will have the ability to supply power nationwide during peak hours without disruptions. ACME, ReNew Power, Hero Future Energies and Amp Energy won parts of the tender.
Ramoji Rao dies at 87: Shooting paused in Andhra to pay respect to mogul; a look at how he built Rs 37,000 cr empire
Cherukuri Ramoji Rao was a highly esteemed business magnate in the entertainment and media industry. As the head of the Ramoji Group, he oversaw the world's largest film production facility, Ramoji Film City, where numerous Telugu classics, including 'Baahubali' and 'RRR,' were filmed. Several superstars such as Chiranjeevi, Ram Charan, Allu Arjun and Mahesh Babu paid tributes to the veteran producer.
FPIs take out Rs 14,800cr from equities in Jun on poll results, attractive Chinese stock valuations
Foreign investors withdrew nearly Rs 14,800 crore from domestic stocks in the first week of this month, influenced by India's Lok Sabha election results and attractive valuations of Chinese stocks.
Bajaj Finance Housing Fin arm to raise Rs 4,000 crore
Bajaj Finance's housing finance arm is set to raise ₹4,000 crore via an initial public offering (IPO) to meet RBI mandates, as confirmed by the company in a stock exchange filing.
Hero FinCorp approves Rs 4,000 crore fundraise via IPO
Hero FinCorp, a subsidiary of Hero MotoCorp, is planning to raise funds through an initial public offering (IPO). This IPO will consist of a fresh issue of shares valued at up to Rs 4,000 crore, along with an offer for sale by specific existing and eligible shareholders.
NHAI's road assets monetisation can fetch up to Rs 60,000 cr for govt this fiscal
ICRA predicts NHAI's road asset monetization plan could yield up to Rs 60,000 crore in FY2025, part of the National Monetisation Pipeline. NHAI plans to sell 33 assets through toll-operate-transfer (TOT) and InvIT modes, totaling 2,750 km with Rs 4,931 crore annual toll collection, likely attracting various investor types.
Oberoi Realty Q4 profit up 64 pc to Rs 788 cr; plans to raise up to Rs 4,000 cr
Oberoi Realty has posted 64 per cent increase in consolidated net profit at Rs 788.03 crore for March quarter FY24 and announced plans to raise up to Rs 4,000 crore through issuance of equity shares and non-convertible debentures. Its net profit stood at Rs 480.29 crore in the year-ago period.
Escorts Kubota plans to invest up to Rs 4,500 cr in new plant over next 3-4 years
Escorts Kubota Ltd plans to invest up to Rs 4,500 crore over the next three to four years in a new manufacturing plant in Rajasthan's Ghiloth. The plant aims to double domestic tractor production capacity to 3.4 lakh units annually and establish new engine and construction equipment lines. The greenfield project is expected to cost between Rs 4,000 crore to Rs 4,500 crore. Land procurement is slated for this fiscal year, with construction to commence by year-end.
BPCL to invest Rs 1.7 lakh cr in core, new energy business
BPCL, which owns three refineries that convert crude oil extracted from below earth's surface into fuels like petrol and diesel, plans to expand refining capacity to 45 million tonnes per annum by March 2029 from current 35.3 million tonnes, he said.
IOB puts 92 bad loans worth Rs 13,000 crore on the block
The sale is the Chennai-based bank's attempt to explore other avenues for recovery when cases in the National Company Law Tribunal (NCLT) are delayed beyond any timeline, IOB executive director Joydeep Dutta Roy said.
BHEL bags Rs 4,000 cr order for 1600 MW thermal project from Adani Power
Bharat Heavy Electricals Ltd secures Rs 4,000 crore order from Adani Power to set up 1,600 MW Raigarh Phase-II Thermal Power Plant in Chhattisgarh, with Unit-1 delivery in 31 months and Unit-2 in 35 months.
Mubadala, Avendus invest Rs 1000 cr in NBFC Avanse
Abu Dhabi's Mubadala Investment Company and Avendus Future Leaders Fund II invest Rs 1,100 crore in Avanse Financial Services, an education-focused NBFC. The funding aims to enhance customer experiences and drive profitable growth. Avanse, with an AUM of ₹12,147 crore, plans to go public to raise Rs 4,000 crore, potentially becoming India's first listed education-focused NBFC.
Bajaj Group commits Rs 5,000 cr for five years towards CSR initiatives
The Bajaj Group's humanitarian efforts are channelled through several institutions. The Jamnalal Bajaj Foundation, Jankidevi Bajaj Gram Vikas Sanstha, and the Kamalnayan Bajaj Hospital, among others, have worked unceasingly to uplift and empower communities, he said.
Foxconn, Samsung, 3 others to get Rs 4,400+ cr under PLI
Apple's contract manufacturers in India, including Foxconn, Wistron, Pegatron, along with Samsung and Dixon Technologies, are set to receive over ₹4,400 crore in incentives for meeting targets in FY23 under the government's production-linked incentive scheme for smartphones. Rising Star (Bharat FIH), Lava, and Optiemus Electronics are among the companies that have not met the PLI targets and are unlikely to receive incentives.
PM Modi to inaugurate two Coal India projects worth Rs 1200 cr on Friday
The Tori-Shivpur third Rail Line located in Chatra and Latehar districts of the state is of Central Coalfields Limited (CCL), which is a subsidiary of Coal India Limited (CIL), the Ministry of Coal said. "This dedicated coal corridor, stretching over 44.37 km with six intermediate stations, is designed to facilitate the evacuation of 100 million tonnes per annum (MTPA) of coal from ongoing and upcoming mining projects. With a capital outlay of Rs 894 crore, this project not only serves existing coal mines but also enhances the evacuation capacity from upcoming commercial blocks," it said.
SBI Mutual Fund looks to garner up to Rs 4,000 cr from energy-focused NFO
On the fundraising target during the NFO period, D P Singh, the deputy managing director & joint chief executive, told PTI that more than the primary subscription they are more interested in wider coverage and the aim it cover/get subscriptions from at least 90 per cent of the pin codes and from at least 2.5-3 lakh investors.
UP Govt, Hero Group sign MoU worth Rs 4,000 cr at Davos
The company currently has a portfolio of 3 GW of grid-connected wind, solar and rooftop solar power generating assets operating in India and Europe, and another 2 GW of projects are in the pipeline across India, Vietnam, Bangladesh, and the UK.
Nitin Gadkari inaugurates, lays foundation stones of 29 highway projects worth Rs 4,000 cr in Punjab
Union Minister Nitin Gadkari inaugurated and laid the foundation stones for 29 national highway projects worth Rs 4,000 crore in Punjab. The projects include the Ladhowal bypass in Ludhiana, a six-lane flyover, a two-lane road overbridge in Ludhiana, the four-laning of the Jalandhar-Kapurthala section, and three bridges on the Jalandhar-Makhu road.
Will expose Rs 40,000 Cr scam during BJP rule if expelled from party, says Karnataka MLA Basanagouda Patil Yatnal
Quickly responding to his statement, Chief Minister Siddaramaiah said Yatnal's allegations about the irregularities that took place when Yediyurappa was the chief minister were proof of their charges that there was a '40 per cent commission government' in the state during the BJP rule. As many BJP leaders have been demanding action against him, Yatnal said, "They (the BJP government in Karnataka) have done everything (huge corruption during Covid). Let them serve me a notice and try to expel me from the party, I will expose them."
IPO calendar next week: 11 IPOs, including 7 mainboard issues, lined up to raise Rs 4,000 cr
Analysts said the strong interest in IPOs is due to an increased focus on profitability and reasonable pricing of deals, at least relative to prevailing higher valuation multiples in listed peers.
Malabar Gold Diamonds announces to invest Rs 1,000 cr and generate 4,000 jobs in Maharashtra by FY25
Jewellery retailer Malabar Gold & Diamonds has announced plans to invest Rs.1,000 crore ($138 million) and create 4,000 jobs in Maharashtra by 2025. The investment and job creation will be made possible through the launch of its centralised base of operations, Malabar National Hub (M-NH), in Mumbai. Spread across 50,000 sq ft, M-NH will house various operations including retail, procurement, e-commerce, and digital marketing.
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