NHAI InvIT to be listed on stock exchange on Friday

NHAI’s Infrastructure Investment Trust (InvIT) which has been oversubscribed by about five times will be listed on the Bombay Stock Exchange on Friday. Infrastructure Investment Trusts are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. “The … Read more

Mahindra and Actis partner to develop industrial and warehousing facilities

Mahindra Lifespaces (ML), a 51.33% subsidiary of M&M is partnering with Actis to own and operate industrial and warehousing real estate facilities in India. Partners will jointly invest in Asset Owning SPVs (SPVs) as well as Operating Company which will provide service to those Asset Owning SPVs. In both kinds of entities, ML plans to … Read more

ML acquires Rivigo’s B2B express business in slump sale. Value deal.

Mahindra Logistics (ML) has announced acquiring Rivigo’s B2B express business, as a going concern, on slump sale basis, for a lump sum consideration of Rs. 225 crores. Rivigo, founded in 2014, operates in two key business segments: Full Truck Load (FTL) and B2B express business. It’s main focus and USP is the relay trucking model … Read more

Govt’s cash balances halve in a month with rise in infra spending

The government’s cash balances have nearly halved in about a month to Rs 2.3 lakh crore as it accelerates spending on infrastructure. Higher federal spending, though potentially inflationary, should boost economic growth that fell below even the central bank’s forecast last quarter. Cash balances with the government were at Rs 2.3 lakh crore on September … Read more

Mahindra logistics to acquire majority stake in Whizzard

Mahindra Logistics (ML) has announced strategic investment into Zipzap Logistics Pvt Ltd. Key points to note – Founded in 2018 and headquartered in Hyderabad, ZipZap is a tech enabled last-mile delivery logistics company operating under the brand name Whizzard.  Total deal value is Rs 71.7 crore in lieu of which ML will get 60% stake … Read more

KPTL decides to consolidate. To merge JMC, a subsidiary.

Kalpataru Power Transmission (KPTL) has announced to merge it’s subsidiary, JMC Projects with itself. Key points to note – KPTL currently owns 67.75% of JMC. It’s an equity merger and the swap ratio is determined as 1 share of KTPL for every 4 shares of JMC. Their respective last closing prices were Rs 389 and … Read more