L&T Infra Development Sold to Edelweiss Alt for Rs 6,000 Cr
Edelweiss Alternatives, a leading Indian alternative asset manager, has sealed the highly anticipated acquisition of L&T Infrastructure Development Projects Ltd (LTIDPL) for a whopping Rs 6,000 crore. This deal, first announced in December 2022, marks a significant stride forward for Edelweiss Alt’s presence in the Indian infrastructure sector. Acquisition Significantly Expands Edelweiss Alt’s Infrastructure Portfolio […]
Standard Chartered Bank Funds DCM Shriram with Rs 100 Cr
In a significant development for India’s clean energy sector, DCM Shriram Ltd. has secured a ₹100 crore sustainable finance loan from Standard Chartered Bank. This loan marks a major step forward for DCM Shriram’s environmental sustainability goals and will be used to fund the construction of a new compressed bio-gas (CBG) plant in Uttar Pradesh. […]
HDFC Bank’s HDB Financial: Japan’s MUFG Takes 20% Stake
In a move poised to reshape India’s financial services industry, Japan’s Bank of Tokyo-Mitsubishi UFJ (MUFG) is reportedly on the verge of acquiring a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank. This strategic investment, valued at a significant $2 billion, marks a major development for both institutions and underscores the […]
Tira by Reliance Introduces Own Label, Steps into Beauty
Reliance Retail’s Tira Beauty continues its aggressive expansion strategy with the launch of its first private label brand, Tira Tools. Announced on April 11, 2024, Tira Tools signifies the beauty platform’s foray into the lucrative beauty accessories market, a segment projected to reach a staggering USD 5.5 billion by 2025 according to [Market Research Report]. […]
Maruti Suzuki Raises Swift, Grand Vitara Prices
In a move that might dampen consumer spirits, Maruti Suzuki, India’s car market leader, announced fresh price hikes for its popular Swift hatchback and select variants of the Grand Vitara SUV on April 10, 2024. This comes just three months after a company-wide price increase in January 2024, raising concerns about the affordability of these […]
Piramal Invests Rs 500 Cr in Puravankara
In a move that promises to reshape the landscape of Indian real estate, Piramal Enterprises, the Piramal Group’s flagship company, has announced a strategic investment of over Rs 500 crore in a carefully curated selection of projects undertaken by Bengaluru-based developer Puravankara Group. This collaboration signifies a major development, aiming to bolster Puravankara’s projects across […]
SBI, Standard Chartered Embrace New RBI Norms in CDS Trade
The Indian financial sector witnessed a watershed moment on April 4th, 2024, as the country’s leading lender, State Bank of India (SBI), joined forces with Standard Chartered Bank India to execute the first-ever Credit Default Swap (CDS) trade valued at ₹25 crore. This pioneering transaction serves as a tangible outcome of the Reserve Bank of […]
KABIL, CSIR-IMMT Partner for Critical Minerals Advancement
India’s quest for self-sufficiency in critical minerals received a significant shot in the arm with Khanij Bidesh India Limited (KABIL) and the Council of Scientific and Industrial Research (CSIR) – Institute of Minerals and Materials Technology (IMMT) joining forces. The two organizations inked a Memorandum of Understanding (MoU) on technical and knowledge cooperation, marking a […]
Policybazaar, ICICI Lombard: Partnership for Insurance Growth
In a significant move to bolster insurance penetration in India, which currently stands at around 4.2%, ICICI Lombard General Insurance Company Limited has formed a strategic partnership with Policybazaar, India’s leading insurance marketplace platform boasting over 100 million users. This collaboration leverages Policybazaar’s established digital platform to offer a comprehensive suite of insurance products to […]
Karigar Mela: Amazon India Supports Artisans, Weavers
The e-commerce giant, Amazon India, has revived its popular Karigar Mela, a bi-annual event celebrating the time-honored traditions of Indian craftsmanship. This year’s iteration, launched today, April 11, 2024, takes a significant step forward by placing a strong emphasis on sustainable practices. The Karigar Mela serves a twofold purpose: empowering artisans and weavers across the […]