Page 2 - Private Companies

Fund raised via bonds on private placement up 73% to Rs 3.3 trn in Apr-Aug

Corporates garnered Rs 3.31 lakh crore through the issuance of bonds on a private placement basis in the first five months of the ongoing fiscal, a surge of 73 per cent from the year-ago period. The funds were mopped up to strengthen balance sheets, retire existing debt and support working capital requirements, market experts said. According to data available with markets regulator Sebi, Rs 3.31 lakh crore was mopped-up through the route during the April-August period of the current fiscal. In comparison, firms raised Rs 1.91 lakh crore in the first five months of 2022-23, data showed. Market experts attributed several factors to higher fund mobilisation through private placement of corporate bonds such as increase in credit demand, soaring bank loan rates, and expensive overseas borrowing. In terms of numbers, 520 issuances took place during the period under review as compared to 508 in the year-ago period. In private placements, firms issue securities or bonds to institutional

Top headlines: Tomato to hit Rs 300 in coming days, ED raids Pawan Munjal

Business Standard brings you the top headlines at this hour

Foreign players' share in private sector capital expenditure declines

Domestic players are driving new project announcements

Apple makes Wall St history as first company with market value over $3 trn

The iPhone maker briefly rose above the $3 trillion level in early 2022, although it failed to close above it, and that peak marked the start of a downtrend that has now been fully erased

Unilever CFO Pitkethly to leave company by May 2024 as inflation worsens

The announcement of his departure comes as Unilever, like the rest of the consumer goods industry, is grappling with significant cost inflation and pressure on its margins

Govt allows 5 pvt firms for cluster farming with Rs 750 cr investment

The Centre has allowed five private firms to undertake cluster farming of specific horticulture crops in about 50,000 hectares on a pilot basis entailing an investment of Rs 750 crore, including government subsidy -- a moved aimed at making Indian produce globally competitive and boost farmers' income. Desai Agrifoods, FIL Industries, Sahyadri Farms, Meghalaya Basin Management Agency, and Prasad Seeds are five companies selected for pilot cluster farming through a bidding process. The Centre will give financial assistance up to Rs 100 crore depending on the size of the project under the recently launched central scheme Cluster Development Programme (CDP), which is implemented by the National Horticulture Board with an outlay of Rs 2,200 crore. Speaking with PTI, Priya Ranjan, Joint Secretary in the Agriculture Ministry, said, the cluster-based approach has seen an incredible amount of success across the world. In India, the government for the first time is encouraging market-led .

Adani-owned NDTV's profit more than halves for Q3 on advertising drop

Indian broadcaster New Delhi Television Ltd, part of the embattled Adani Group, said on Tuesday that profit had more than halved in the third quarter on weak advertising demand

Private companies lap up Esri's GIS software for multiple uses

Government departments have used it to build village land records, track rural roads, and manage water resources

Uttar Pradesh sets a target of Rs 40,000 cr investments in energy sector

The steep proliferation in the state energy demand is attributed to the projected setting up of new industries and manufacturing plants over the next five years

Uniqus Consultech raises $12.5 mn, eyes $100 mn revenues in next 5 years

The company plans to invest the funds raised in technology and scaling up business across India, US and Middle East

Reliance most valued Indian firm; 2 Adani units join top ranks: Study

Top 500 companies in Burgundy Private Hurun India's list are worth $2.7 trillion

Zomato co-founder Mohit Gupta resigns; pens a heartfelt farewell note

In a farewell note, Gupta said that it was an honour for him to see the company grow leaps and bounds

Alternative fuel start-up Buyofuel raises Rs 11.5 cr in series A funding

The funds raised will be put towards expanding the company's services across geographies, development of product offerings as well as technology

Q2 earnings: Corporate profits decline, a first in nine quarters

The combined net profit of 2,725 listed companies across all sectors was down 6.3 per cent year-on-year (YoY) in Q2 -the first contraction after eight consecutive quarters of YoY growth

Sembcorp acquires 100% stake in GIP-backed Vector Green for Rs 2,780 cr

Vector has a total portfolio of 583 Mw across 13 states; deal will take Sembcorp's gross renewable assets in India to 3 Gw

Strong SUV sales bump up M&M's Q2 net by 46% YoY to Rs 2,090 crore

Revenue during the period rose 57% to Rs 20,839 crore from Rs 13,314 crore

Billionaire Hinduja brothers end family feud on pact signed in 2014

The fight among Hinduja brothers was caused because of a pact signed by them in 2014 that said that 'everything belongs to everyone and nothing belongs to anyone'

German PE firm acquires 80% stake in Mahindra-owned Peugeot Motorcycles

The Munich-based private equity holding company has a portfolio of 32 companies and has a presence across Europe

Amagi's valuation crosses $1.4 bn amid funding woes, raises $100 mn

The media technology provider has raised over $100 mn in investment, inclusive of $80 million in primary capital, from global growth equity firm General Atlantic

Lenskart FY22 revenue rises 66% to Rs 1,502 cr, but slips into losses

The SoftBank-backed company reported losses of Rs 102 crore in FY22 after reporting a profit of Rs 28 crore in the previous financial year