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IL&FS Mutual Fund Pays Rs 262 Cr to Debt Infra Investors; Rs 1,900 Cr Total Payout in Last 6 Yrs
OutlookIndia
·
3m ago
Medial
IL&FS Mutual Fund has distributed Rs 262 crore to investors in its infrastructure debt fund, taking the total payouts to Rs 1,900 crore over six years. The IL&FS Infrastructure Debt Fund Series 3B was redeemed on May 7, yielding an 8% annual return since inception. Managed by IL&FS Infra Asset Management Ltd., the fund targets banks, pension funds, and insurance companies. The Indian government took control of IL&FS in 2018 to stabilize the financial market.
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Exclusive: Ayana Renewable to raise Rs 150 Cr from IL&FS Mutual Fund
Entrackr
·
4m ago
Medial
Exclusive: Ayana Renewable to raise Rs 150 Cr from IL&FS Mutual Fund Renewable energy firm Ayana Renewable is set to raise Rs 150 crore (approximately $17.4 million) in debt from IL&FS Mutual Fund. This development came a month after the company had signed a share purchase agreement with ONGC-NTPC Joint Venture. The board at Ayana Renewable has passed a special resolution to issue 1,500 non-convertible debentures at an issue price of Rs 10,00,000 each to raise Rs 150 crore, its regulatory filing accessed from the RoC. The funds will be used for debt refinancing, subsidiary support in renewable projects, interest, loans, and other eligible infrastructure needs. Notably, the tenure of these debentures will be 3 years from the date of initial drawdown. Ayana Renewable operates as an asset-heavy IPP, developing and managing solar and wind projects with long-term PPAs. Backed by NIIF and global investors, it funds growth through equity, debt, and bonds while ensuring efficient operations and exploring hybrid energy, battery storage, and green hydrogen. Last month, NIIF, British International Investment, and Eversource Capital signed a share purchase agreement to sell their 100% stake to ONGC NTPC Green Pvt. Ltd. (ONGPL), a 50:50 JV of ONGC Green Ltd. (OGL) and NTPC Green Energy Ltd. (NGEL), for an enterprise value of $2.3 billion. For context, Ayana was set up by BII in 2018 and secured over $700 million from NIIF, BII, and Eversource to date. Last week, CCI approved the above-mentioned share agreement. Ayana's scale saw a modest 4% year-on-year growth to Rs 856 crore in FY24 from Rs 823 crore in FY23. However, the company's profits declined sharply by 42.3% to Rs 45 crore during the same period.
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Urban Company files draft papers to raise Rs 1,900 Cr in IPO; to boost cloud infra
YourStory
·
3m ago
Medial
Urban Company, an on-demand services platform, is targeting a Rs 1,900 crore raise through its IPO, according to its draft red herring prospectus. The IPO includes a fresh issue of Rs 429 crore and an offer-for-sale component worth Rs 1,471 crore from investors like Accel India and Elevation Capital. Proceeds will fund technology and cloud infrastructure development. The company reported Rs 828 crore revenue in FY24, up 30% from FY23, with reduced losses.
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Reliance Infra share price - Reliance Infra shares jumped 20% in 3 days; is more steam left? - Reliance Infra shares jumped 20% in 3 days; is more steam left? BusinessToday
Business Today
·
5m ago
Medial
Reliance Infrastructure recently witnessed a significant stock price increase, rising 20% over the past three trading days. Despite facing considerable financial challenges due to high operational expenses, debt obligations, declining revenues, and profitability, the company sees potential for growth through strategic partnerships and project completions. For sustainable long-term growth, profitability and debt reduction are crucial. The stock experiences strong resistance around Rs 250, with potential upward movement to Rs 280-290 and support at Rs 220-230.
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OfBusiness plans to invest Rs 3,000 Cr in next 3 yrs to ramp up steel biz
YourStory
·
7m ago
Medial
OfBusiness, a B2B commerce and fintech startup, plans to invest Rs 3,000 crore over three years to expand its steel business to over 4 million tonnes per annum. The company, which acquired SMW Ispat, Shree Sidhbali Ispat, and Noble Steel, will fund this growth using internal accruals, debt, and equity financing. Additionally, OfBusiness intends to enter new categories and is planning a $1 billion IPO in FY26 to support its expansion efforts.
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'Potential multibagger gains from our PSU shares...': Expert on DIPAM's latest plan for PSU stocks
Business Today
·
4m ago
Medial
In fiscal year 2025, Central Public Sector Enterprises (CPSEs) achieved a record dividend payout of Rs 1.5 trillion, resulting in Rs 74,016 crore in dividends for the government. The Department of Investment and Public Asset Management (DIPAM) is focusing on integrating public sector undertaking (PSU) stocks into mutual fund portfolios. Under the leadership of Arunish Chawla, DIPAM aims for a unified strategy based on data, balancing between dividend payouts, asset values, and market performance.
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Equity fund inflows fall 16% to Rs 18,917 crore in April, SIP book tops Rs 20,000 crore for first time
Money Control
·
1y ago
Medial
Equity mutual fund inflows in India dipped by 16% to Rs 18,917.08 crore in April, compared to the previous month. Large-cap funds experienced a decrease in investments, while small-cap funds showed an increase after a brief outflow in March. However, the systematic investment plans (SIPs) reached a record high of Rs 20,371 crore, surpassing the Rs 20,000 crore mark for the first time. Overall, the mutual fund industry rebounded strongly, with net inflows totaling Rs 2.39 lakh crore. Debt funds also experienced a recovery, with net investments of Rs 1.90 lakh crore.
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Bids worth over Rs 25,000 crore pour in for Rs 8,000-crore Vedanta QIP
Money Control
·
1y ago
Medial
The qualified institutional placement (QIP) offering of Vedanta has received bids exceeding Rs 25,000 crore, surpassing the initial offering size of Rs 8,000 crore. The bids came from various investors, including foreign portfolio investors, mutual funds, and insurance companies. Major mutual fund entities like Nippon India, ICICI Prudential, and SBI, among others, have submitted bids ranging from Rs 500 crore to Rs 800 crore. The QIP, which opened on July 15, will close for bidding on Friday. Vedanta plans to utilize the proceeds to repay its debt to Oaktree Capital, Deutsche Bank, and Union Bank of India.
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Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra
Inc42
·
1m ago
Medial
Varthana, an education-focused NBFC, raised INR 159 crore in debt from BlueEarth Capital, Franklin Templeton Alternative Investments, and responsAbility. The funding aims to expand affordable schools and enhance sustainable infrastructure across India. The investment includes non-convertible debentures worth INR 65 crore from responsAbility, INR 69 crore in external commercial borrowings from BlueEarth Capital, and INR 25 crore from Franklin Templeton. Varthana's FY24 net profit increased nearly sixfold to INR 30.9 crore.
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Aris Infra Solutions raises Rs 80 crore in pre-IPO round
Economic Times
·
6m ago
Medial
Aris Infra, a construction material procurement platform, secured Rs 80 crore in a pre-IPO round led by Mukul Agrawal and others, with a post-money valuation of Rs 1,800 crore. The firm, leveraging AI and ML for supply chain efficiency, plans to use IPO proceeds to repay debt, boost working capital, and invest in its subsidiary. Backed by notable investors, ArisInfra serves clients like Tata Group and JSW, amidst industry competition from players like Infra.Market.
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Mutual fund industry pushes for LTCG tax exemption on shares, equity funds after 3 years
Money Control
·
1y ago
Medial
The Association of Mutual Funds of India (AMFI) has made several suggestions for the upcoming budget. They propose that long-term capital gains on listed shares or units of equity-oriented fund schemes be taxed at 10% for gains exceeding Rs 2 lakh, and gains from assets held for more than three years should be exempt from tax. AMFI also requests tax concessions on debt mutual funds, revision of the definition of Equity Oriented Funds, parity in taxation on commodity funds, alignment of tax treatment for pension MF schemes and NPS, an increase in the threshold limit of withholding tax, and the introduction of a Debt Linked Savings Scheme.
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