Page 9 - Funds

Tata Power Renewable gets Rs 2,000 cr infusion from GreenForest

Tata Power Renewable Energy Ltd (TPREL) has received an investment of Rs 2,000 crore from GreenForest New Energies Bidco with allotment of 20 crore preference shares to the latter. "TPREL...has received the second and final round of investment of Rs 2,000 crore from GreenForest and has successfully allotted 20,00,00,000 Compulsorily Convertible Preference Shares (CCPS) at face value of Rs 100 each at par aggregating to Rs 2,000 crore on a preferential basis to GreenForest," a statement said. Subsequent to this second tranche, TPREL has now received an investment of Rs 4,000 crore. GreenForest holds 6.06 per cent equity in TPREL and on conversion of the above CCPS, it will hold 9.76-11.43 per cent stake in TPREL, subject to the equity valuation on final conversion. The completion of this equity infusion will fund TPREL's aggressive growth plans. Over the next five years, it aims to achieve a portfolio of 20 GW of renewable assets and a market leading position. "The completion of Rs

Record allocation for railways in M'rashtra will have good impact: Vaishnaw

The record allocation of Rs 13,539 crore for railways in Maharashtra will have a "very good effect", Railway Minister Ashwini Vaishnaw said on Friday. Addressing a press conference through video link from Delhi, Vaishnaw said that the allocation in the 2023-24 Budget for Maharashtra was 11 times the average allocation between 2009 to 2014. Saying that the union government was getting good cooperation from the Eknath Shinde-led government, Vaishnaw reiterated the charge that when Uddhav Thackeray was chief minister, the bullet train project did not get any clearances from the state government. "The deadline for Mumbai-Ahmedabad Bullet Train project (completion) is August 2026," he added. The production of Vande Bharat Express trains has been ramped up and a train is being manufactured in 7 to 9 days, he said. "We will modernize and redevelop 123 stations in Maharashtra. As for CSMT (in Mumbai), by March end tenders will be opened. Primary pre-work has already begun," Vaishnaw said.

Rs 35K cr for energy transition: Energy sector awaits disbursement details

No decision has been taken on how to utilise this money for green initiatives and the government is yet to come out with any guidelines too

360 ONE acquires controlling stake in Mumbai Angels, announces 2 new funds

Both funds will focus on early-stage start-ups

Invest in multi-asset funds for protection against downside risk

Be prepared, however, for these funds to lag when there's a bull run in equities

Food brand Whole Truth raises $15mn in series B led by Sequoia Capital

Company will use money for expanding manufacturing, hiring and retail distribution

Short-duration funds suit conservative investors during pause in rate cycle

Take a tactical bet on longer-duration funds when RBI moves to a tightening stance

IBC process: Resolution and distribution of funds may be separated

IBC amendments likely in the Budget Session, MCA also rethinking priority given to govt dues in the waterfall mechanism

IIFL Mutual Fund launches India's first passive tax-saver fund

The scheme, which opened for subscription on Thursday, will mimic the Nifty 50 index

Fifth year of zero SME rights issues likely after Rs 100 cr mop up in 2014

Year 2017 first with nil funds raised; experts say easier routes of raising capital such as QIP driving down popularity of rights

Base effect contributing to small-cap funds' 30% return over three years

Limit exposure to this volatile category to 10-15% of equity portfolio, enter with 7-10-year horizon

G20 unveils global pandemic fund to avoid repeat of Covid pandemic

Funds will be used to help countries prevent future pandemics; fundraising currently at $1.4 billion

MSCI India index rebalancing could stoke Rs 13,000-crore churn

Varun Beverages, Tube Investments, IHCL seen as potential inclusions

Three-five-year gilts are attractive in current times, say experts

For tax-efficient exposure, go for target maturity funds maturing in 2026-2028

NAREDCO sets up finance committee to help builders in getting funds

The NFC will also support large-scale projects to access funds via financial institutions and educate members to enhance their credit ratings.

Avataar Venture Partners launches new fund, with a target size of $350 mn

Avataar Venture Partners said the launch of the new fund highlights the huge market opportunity in business-to-business (B2B) tech and SaaS sectors which have been resilient through the funding winter

IMF should issue new reserves to help countries tackle crises: Civil groups

The International Monetary Fund should issue $650 billion in new emergency reserves to help its member countries grapple with overlapping crises, 140 civil society groups said in a letter

True North acquires minority stake via own fund in Accion Group for $93 mn

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

SmallCap World Fund buys nearly 550k Mastek shares worth over Rs 96 cr

Small Cap World Fund on Monday acquired software company Mastek Ltd's shares worth over Rs 96 crore through an open market transaction. According to bulk deal data available with BSE, SmallCap World Fund Inc purchased 5,49,676 shares of the company, amounting to a 1.82 per cent stake in the firm. The shares were bought at an average price of Rs 1,759.97 apiece, taking the transaction value to Rs 96.74 crore. Meanwhile, Hornbill Orchid India Fund sold 4,29,086 shares of Mastek. Shares of Mastek closed 1.52 per cent lower at Rs 1,731.15 on the BSE. In a separate transaction, Elevation Capital V FII offloaded shares of KDDL Ltd for over Rs 30 crore through the open market transaction. Elevation Capital V FII Holdings Ltd sold 3,60,000 shares, amounting to a 2.82 per cent stake in the company, as per data available with the National Stock Exchange (NSE). The shares were disposed of at an average price of Rs 850 per scrip, taking the transaction value to Rs 30.60 crore. Capital One

Kuku FM raises $21.8 mn series B1 funding from Fundamentum Partnership

Funds will be used to expand Kuku FM's catalogue, strengthen its content creation ecosystem and offer more language choices to listeners, focusing on the 'Bharat' audience