Some notable highlights by Shriram Housing Finance’s MD

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

Arvind SmarSpaces and HDFC RE Fund partner for residential development.

Arvind SmartSpaces Limited (ASL) and HDFC Capital Advisors (HDFC) have partnered to create a separate platform for the residential development. Key points to note – Subject platform will be a 100% subsidiary of ASL. Total fund infusion is envisaged at Rs 900 crore in multiple tranches as and when required Rs 300 crore from ASL … Read more

Auditor now doubts whether Indostar can continue as a going concern

Indostar has finally submitted it’s quarter and year ended March 31, 2022 results. (It’s pertinent to remind here that currently the Company has been going through a self initiated independent review wrt to the credit process/ operational lapses.) As is typical in such scenarios, everyone wants to play safe and auditor of the Company (Deloitte … Read more

Spicejet settles with AAI. Also rumoured to be in stake sale discussions.

Spicejet has informed that it has settled with Airports Authority of India (AAI) and has cleared all the ‘principal’ dues. Financial difficulties of the airline are widely known. It has been defaulting/ delaying on most of it’s financial commitments. It was moved to ‘cash and carry system’ in airports run by the AAI. Spicejet has … Read more

M&M benchmarks to Tata. Does a token fund raise in the EV business.

After Tata Motors doing it last year, M&M going for external fund raise in the EV business was widely expected. The Company has now announced raising Rs 1,925 crore from British International Investment Plc (BII) for the same. BII (formerly CDC Group plc) is the Development Finance Institution of the UK Government and invests between … Read more

IIFL Finance dilutes 20% stake in home finance subsidiary

IIFL Home Finance (IHFL) is raising Rs 2,200 crore from Abu Dhabi Investment Authority (ADIA) for 20% stake. Key points to note –  IHFL is currently a 100% ‘unlisted’ subsidiary of IIFL Finance Limited (IFL) It is in the business of small-ticket (affordable) home loans, loan against property and construction finance. The subject fund raise … Read more

Greaves Cotton raises significant money in EV subsidiary

Money is being raised by Greaves Electric Mobility (GEM), currently a 100% subsidiary of Greaves Cotton Limited (GCL). It has got total commitments of $220 mn from Abdul Latif Jameel (ALJ), a family-owned diversified business founded in Saudi Arabia in 1945. Key points to note – ALJ is a leading distributor of Toyota products for … Read more

GIC investing significant money into ABFRL.

Aditya Birla Fashion & Retail (ABFRL) has announced raising sizeable equity investment from GIC’s affiliate, Caladium Investment Pte. Ltd. Key points to note – GIC is Singapore’s sovereign wealth fund. GIC has committed to infuse a total of Rs 2,195 crore Rs 295 crore upfront equity @ Rs 288.75/ share picking up about 1.07% of … Read more