HDFC Capital Advisors Limited, a wholly owned subsidiary of Housing Development Finance Corporation (HDFC) and acting as an investment manager, has successfully achieved the initial close of its third fund focused on affordable housing. HDFC Capital Affordable Real Estate Fund - 3 (H-CARE-3) will invest in the residential real estate sector in India with investors committing in excess of $1.22 billion towards the first close, which combined with potential reinvestments by the fund, creates an estimated total fund corpus of $1.88 billion. The primary investor in HCARE 3 is a wholly owned subsidiary of the Abu Dhabi Investment Authority.
PNB Housing Finance
After having been forced by SEBI to pull back its earlier ₹4,000 crore deal with Carlyle and other investors, PNB Housing Finance has now set its sights on again going in for a capital raise although the exact details are yet to be firmed up. "Capital raise for us is back on the table. We are discussing the route and other modalities and will take it to the Board. The route could be preferential allotment, rights issue or QIP", Hardayal Prasad, MD&CEO, PNBHFL told BusinessLine.
Axis Finance Ltd. has put Subhash Chandra, Punit Goenka, Zee Entertainment Enterprises Ltd. (ZEEL), and Sony Pictures Networks India Pvt. on notice, a Bloomberg report said. That if dues worth approximately ₹150 crore are not paid, it will oppose the Zee-Sony merger. Last month, the two media groups finalised the terms of the merger.
Exide Industries has invested about ₹20 crore by way of subscription to the equity share capital of its subsidiary, Exide Leclanche Energy Private Limited, taking its total equity shareholding in JVC to 84.90 per cent. The joint venture company is into manufacture, assembly, trade, sale and distribution of lithium ion batteries, module making and associated systems in the Territory (Battery Pack Assembly Plant) and contract manufacturing/sourcing of modules for third parties on a case to case basis.
Prakash Industries Ltd has secured long term coal linkages of 1,95,900 tonnes per annum (tpa) for five years in the coal linkage auction concluded by Coal India Limited under Tranche-V of the "Others" sub-sector. The linkages, together with the coal linkages of 8,10,200 tpa secured in December 2021 for its captive power plant, will further insulate the company against the volatility in the coal prices and thus provide long term stability to the operations and improve financial performance, it said.
PTC India Financial Services
PTC India Financial Services: The capital market regulator SEBI is understood to have directed the crisis-ridden PTC India Financial Services (PFS) to first resolve the corporate governance issues being faced by the company before holding a meeting of its board of directors. The subsidiary of state-run power trading company PTC India was scheduled to hold a Board meeting on Saturday to take forward the process for the selection of independent directors but could not hold as it did not have the mandated quorum nor the go-ahead from the regulator. IT may be recalled that three independent directors of PFS — Kamlesh Shivji Vikamsey, Santosh B Nayar, and Thomas Mathew T — resigned last Wednesday alleging serious corporate governance issues.
Titagarh Firema S.p.A., the company’s subsidiary in Italy (TFA) has signed the framework agreement for design, manufacture, supply and 10 years of maintenance of 38 trainsets of Metro for Lazio Regione, Italy. The total value of the framework agreement is 282 million euro (equivalent to ₹2,380 crore).
HFCL Limited, responding to the infringement claims made by Sterlite Technologies, has described the claim baseless. Further, the claim is based on misleading information given by STL for registration of impugned patent, it said. In fact, STL's application on a similar patent was rejected by the European Union, HFCL said in a notice to the stock exchanges.
Vaibhav Global has announced the successful execution of Share Subscription and Shareholders' Agreements for acquisition of 60 per cent stake in Encase Packaging Private Limited for Rs 4 crore. The deal will be financed through internal accruals and cash balances and is expected to be completed in two months. Based out of Sri City in Andhra Pradesh, Encase Packaging is engaged in the business of manufacturing and trading of all kinds of packaging material.
Variman Global Enterprises
Variman Global Enterprises has received purchase orders of ₹1.29 crore from Centre for Development of Advanced Computing, Hyderabad and Andhra Pradesh Medical Services & Infrastructure Development Corporation for supply of Laptop Notebooks and Online UPS.