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

Reliance gets significant strategic investment into Viacom18

Viacom18 (V18) is amongst the leading players in the Indian television sector with 38 channels in nine languages across various genres including general entertainment, movies, sports, youth, music and kids. Besides, it also has OTT streaming platform Voot. V18 is currently a 51:49 JV between Reliance Industries Limited (RIL) owned TV18 and Paramount Global. RIL … Read more

Crompton acquires controlling stake in Butterfly. Seems an attractive buy.

Crompton Greaves Consumer Electricals (CGCE) has announced acquiring a controlling stake in Butterfly Gandhimathi Appliances (BGA). Key points to note: CGCE is acquiring 55% stake from BGA’s promoter group @ Rs 1,403/ share Consideration value for this tranche comes to Rs 1,379.68 crore Promoters total stake in BGA is currently 64.78%. Balance not selling may … Read more

Gangwal decides to exit from Indigo. Next steps from Bhatia keenly awaited.

Finally, as was widely expected, Rakesh Gangwal, the co-founder of Indigo makes some important announcements. He will gradually sell his shareholding over the next 5 years. Gangwal group currently owns 36.61% of Indigo. So as to ease his stake selling and not get restricted due to the access to the non-public information, he has resigned … Read more