HDFC plans to raise up to Rs 6,000 crore via bonds
Housing Development Finance Corp (HDFC) will raise up to Rs 6,000 crore by issuing non-convertible debentures (NCDs) on a private placement basis. The NCDs will have a base issue size of Rs 3,000 crore, with an option to retain oversubscription of Rs 3,000 crore (greenshoe option). The object of the issue is to augment/boost its long-term resources. The proceeds from the issue will be utilised for financing or refinancing the housing finance business requirements of HDFC.
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EaseMyTrip, InterGlobe Tech Quotient announces $10 million deal to boost expansion
EaseMyTrip has signed an agreement with InterGlobe Technology Quotient (ITQ) to provide seamless access to ITQ’s travel commerce platform– Travelport (1G). The deal is worth $10 million (~Rs 73.85 crore) as advance revenue from ITQ. “Our agreement along with the commitment to innovate and offer cutting-edge technologies will bring greater developments for both companies in the future”, said Sandeep Dwivedi, COO at ITQ. ITQ is a strategic business unit of InterGlobe Enterprises and connects nearly 2 lakh agency terminals.
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RIL to acquire stake in Google-backed Glance InMobi: Report
According to a report from Mint, Reliance Industries Ltd (RIL) is in talks to buy a stake in Indian mobile content provider Glance InMobi Pte. RIL is reportedly considering an investment of $300 million (~Rs 2,215 crore) in the unicorn (billion-dollar startup). Glance InMobi is backed by Alphabet Inc.’s Google. The company pushes curated news and entertainment content onto phone lock screens and runs a short video app.
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IndusInd Bank partners with Vistara to launch co-branded credit card
Full-service carrier Vistara has partnered with IndusInd Bank to launch a co-branded credit card— Club Vistara IndusInd Bank Explorer. The credit card will offer various benefits such as complimentary business class tickets, membership of the airline’s frequent flyer program, and lounge access. Other benefits include rescheduling fee waivers on direct booking of Vistara flights, luxury gift vouchers, complimentary movie tickets, and dining vouchers.
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Centre launches second auction attempt for 11 coal mines
The Centre has announced the launch of the second attempt of the auction process for 11 coal mines for commercial mining. These are the mines that were offered in the first auction attempt launched in March 2021 and had fetched single bids. Out of the 11 coal mines on offer, six are fully explored and five are partially explored. The auction for these mines will be held online through a transparent two-stage process based on percentage revenue share.
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Nucleus Software’s offline retail payment product passes RBI’s Regulatory Sandbox
The Reserve Bank of India (RBI) has successfully evaluated Nucleus Software Exports’ offline retail payment product, PaySe, under the cohort of Regulatory Sandbox with “Retail Payment” as its theme. PaySe is an online and offline digital payment solution that has been designed to make banking services more accessible in remote geographies. Regulatory Sandbox refers to live testing of new products or services in a controlled regulatory environment for which regulators may (or may not) permit certain relaxations for the limited purpose of testing.
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Patel Engineering secures order for 500 MW Teesta-VI hydro power project
Patel Engineering Ltd (PEL) has secured a civil work order worth Rs 1,251 crore for the 500 MW Teesta-VI hydro-power project in Sikkim from Lanco Teesta Hydro Power Ltd, a subsidiary of state-run NHPC. The project is located in South Sikkim District. Mumbai-based PEL has a strong presence in tunnels and underground works for hydroelectric and dam projects.
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Piramal Enterprises to raise Rs 400 crore via NCDs
The Board of Directors of Piramal Enterprises Ltd has approved a proposal to raise up to Rs 400 crore via non-convertible debentures (NCDs). The company will issue secured, rated, listed, redeemable NCDs worth up to Rs 200 crore along with an option to retain oversubscription of up to Rs 200 crore on a private placement basis. The NCDs will be listed on the Wholesale Debt Segment and Capital Market Segment of BSE and NSE and carry a coupon rate of 8% per annum.
Adani Enterprises’ arm signs pact with April Moon Retail to operate duty-free outlets in airports
Adani Airport Holdings (AAHL) has signed a share subscription agreement with April Moon Retail Pvt Ltd (AMRPL) and existing shareholders to operate duty-free outlets in airports. AAHL is a wholly-owned subsidiary of Adani Enterprises Ltd. The company will acquire a 74% stake in AMRPL for Rs 7.40 lakh
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