HDFC Bank Secures $300M Through Sustainable Finance Bonds
HDFC Bank, India’s largest private sector lender by market capitalisation, has raised $300 million through its first ever sustainable finance bond issue. The bond is part of a larger $750 million raise through Regulation S Bonds, which are offered to investors outside the US. HDFC Bank’s Sustainable Finance Bond Details The sustainable finance bond has […]
Shadowfax Stake Bought by NewQuest Gets CCI Nod
NewQuest Asia Fund IV (Singapore) Pte, a private equity fund of TPG Group, has received approval from the Competition Commission of India (CCI) to acquire a stake in Shadowfax Technologies, a tech-enabled logistics platform. What is Shadowfax Technologies? Shadowfax Technologies is a crowd-sourced and tech-enabled logistics platform that provides delivery services to various sectors such […]
Kotak Mahindra GI 70% Stake Bought by Zurich Insurance
Zurich Insurance Company Ltd., a leading global insurer, has received approval from the Competition Commission of India (CCI) to acquire up to 70% stake in Kotak Mahindra General Insurance Company Ltd. (Kotak Mahindra GI), a subsidiary of Kotak Mahindra Bank Ltd. The deal is expected to be completed by June 30, 2024. Background of Kotak […]
CPIH, AIL – II, Ontario Inc. Acquires Interise: CCI Approval
The Competition Commission of India (CCI) has approved the proposed combination involving acquisition of 100% shareholding of Interise Investment Managers Limited by the CPIH, AIL – II. and Ontario Inc. Who are the acquirers? CPIH, AIL – II and Ontario Inc. are the acquirers in this deal. CPPIB India Private Holdings Inc. (CIPH) is a […]
Flywire and SBI Simplify Payments for Foreign Students
Indian students who want to pursue their education abroad can now enjoy a hassle-free and convenient payment process, thanks to the partnership between Flywire Corporation and State Bank of India (SBI), the largest lender in India. The partnership aims to offer Indian students an advanced digital checkout experience for their international educational payments, ranging from […]
India’s $78B Deal to Extend Qatar LNG Imports
India, the world’s fourth-largest consumer of energy, is likely to sign a $78 billion deal with Qatar, the world’s top exporter of liquefied natural gas (LNG), to extend its LNG imports for another 20 years beyond 2028 at rates that are lower than current prices, sources said. The deal will be signed between Petronet LNG […]
HSBC Mutual Fund Introduces Multi Asset Allocation Offering
HSBC Mutual Fund has announced the launch of a new fund offering (NFO) for an open-ended scheme focused on multi asset allocation. The fund aims to invest the corpus in equity and equity-related instruments, debt and money market securities and gold/silver ETFs. The NFO will be open for subscription from February 8 to February 22, […]
TCS Hikes Rates on Overseas Tour Packages by 15%
If you are planning to book an overseas tour package from a travel agent, be ready to pay more from October 1, 2023. The government has increased the tax collection at source (TCS) rate from 5% to 20% on such packages, as per the Budget 2023-24. This means that you will have to shell out […]
Vanguard Reduces Ola Cabs’ Valuation by 30%
Ola Cabs, one of India’s leading ride-hailing companies, has faced a significant valuation cut by US asset manager Vanguard, one of its investors. According to a regulatory filing, Vanguard has reduced Ola’s valuation by 30% to under $2 billion, marking its third consecutive markdown in the past year. What does this mean for Ola? Ola […]
World’s First Lab-Grown Jewellery, Solitario, on Burj Khalifa
Solitario, a leading jewellery brand known for its exceptional lab-grown diamonds of superior quality, recently introduced its latest line during a spectacular launch event beneath the gleaming lights of Burj Khalifa in Dubai. The brand is pioneering the lab-grown diamond industry in India and expanding its global presence with the launch of its fourth outpost […]