Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more
Shriram Housing Finance (SHF), the housing finance subsidiary of Shriram Finance (SFL) is in the process of raising $100 mn growth capital. It targets to conclude the fund raise by end June 2023 Market is speculating Baring to be close to finalise a deal. MD has informed that multiple people are in the fray. SHF … Read more
In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more
Electric Vehicles (EV) continues to attract investors’ attention. Now Tube Investments of India (TII) has announced fund raising in it’s wholly owned subsidiary, TI Clean Mobility Private Limited (TICMPL). TICMPL, a recent initiative of TII, is focused into manufacture and marketing of Electric Three Wheelers and through it’s subsidiaries into Electric Tractors and Electric Heavy … Read more
Shriram Finance (SFL) is the consolidated NBFC arm of the Shriram group. It is formed through the merger of Shriram Transport Finance (STFC), Shriram City Union Finance (SCUF) and Shriram Capital (SC). The management has shared the following key pointers on the way ahead – In next 3 years, Vehicle loans will reduce from 77% … Read more
Britannia has entered into a JV with Bel SA, France (Bel) to undertake the development, manufacturing, marketing, distribution, trading and selling, etc., of cheese products in India and certain other countries. Bel Group is a world leader in branded cheese and a significant player in the healthy snacking segment with brands like The Laughing Cow, … Read more
In line with the recent speculations, Board of Adani Enterprises (AE) has approved raising of further equity from public (FPO) aggregating up to Rs 20,000 crore. Proposal is subject to the existing shareholders’ approval which should not be a challenge given it’s shareholding structure – at September 2022 end, promoters held 72.62%, FIIs 19.12%, DIIs … Read more
Shriram Housing finance (SHF) is a 85% subsidiary of Shriram City Union Finance (SCUF). SHF’s MD & CEO, Ravi Subramanian has informed the following – They are looking to grow both organically and inorganically Organically, the Company clocked a 54% year-on-year loan asset growth to Rs 6,546 crore at the end of September 2022 and … Read more
M&M is diluting 30% stake in it’s renewable business to Ontario Teachers’ Pension Plan Board (Ontario), a global major investor with net assets ~ Canadian$ 242.5 bn. Key points to note – Stake dilution is of a step down wholly owned subsidiary of M&M, Mahindra Susten Private Limited (MSPL) MSPL is Mahindra Group’s renewable energy … Read more