Reliance Industries: RIL on Wednesday said General Atlantic will invest Rs 3,675 crore in its retail arm Reliance Retail Ventures for a 0.84 per cent stake on a fully diluted basis. The fresh investment in Reliance’s retail arm values the business at Rs 4.285 lakh crore, which is higher than Rs 4.21 lakh crore valued by the Rs 7,500 crore Silver Lake deal. Like Silver Lake, this would be General Atlantic’s second investment after a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Axis Bank: The private bank said there was an uptick in the number of borrowers who opted for loan moratoriums after June and emphasized that the lender will be “judicious” in restructuring borrowings under the new rules, PTI reported citing Chief Executive Officer and Managing Director Amitabh Chaudhry as saying.
BPCL: Oil majors Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum, Reuters reported citing sources familiar with the matter.
Indiabulls Housing Finance: Indiabulls Housing Finance said it has further sold a portion of its stake in OakNorth Holding Ltd. To TEMF, a fund managed by Toscafund Asset Management for around Rs 630 crore.
Future Enterprises: Future group firm Future Enterprises reported a fresh default on interest payment of non-convertible debentures (NCDs).
Gati: Mahendra Agarwal, Founder and Managing Director of Hyderabad-based Gati., resigned from the Boards of Gati, Gati-KWE, and Gati-Kausar, said the companies’ majority shareholder Allcargo Logistics.
Indiabulls Ventures: The company said it has raised Rs 441 crore by selling shares to a clutch of investors, including American fintech investor Ribbit Capital. Other investors include New York Stock Exchange-listed Inteligo Bank, US-based First Royalty Ventures LLC and San Francisco-based TIMF Holdings, Indiabulls Ventures said in a regulatory filing.
GMM Pfaudler: Plutus Wealth Management lapped up 1,65,000 shares of GMM Pfaudler at Rs 3,528.75 per share from the open market.
Bandhan Bank: Private sector Bandhan Bank is strengthening its leadership team as part of the next five-year growth strategy. It has appointed former Bajaj Capital chief executive Rahul Parikh as the bank’s digital head as the bank broadens its digital presence to improve customer services.
India Grid Trust: KKR has become the sponsor of India Grid Trust (IndiGrid) after the unitholder of the latter approved the proposal less than three months after the investor had withdrawn its intent to be a sponsor to the infrastructure investment trust.
Power Finance Corp: State-run Power Finance Corporation (PFC) has set a revenue target of Rs 36,000 crore for the current financial year.
NMDC: The commissioning of state-owned miner NMDC Rs 21,000 crore three-million tonne capacity steel plant in Chhattisgarh, targeted this year, has been delayed due to COVID-19 and is now expected by July next year, PTI reported citing a top official.
IRB Infrastructure Developers: Promoter Virendra Dattatraya Mhaiskar bought 19,00,000 shares of IRB Infrastructure Developers at Rs 114.45 per share. He held 0.26 per cent stake in the company at the end of June.