Here are the India Business News Headlines 26th October 2017:
- In the largest clean energy deal till date, a group of investors led by Global Infrastructure Partners will acquire Equis Energy for $5 billion. The sale includes liabilities of $1.3 billion and the Indian portfolio of the Singapore-based company including Energon and Energon Soleq.
- BPCL is set to raise $500 million to partly fund its planned capital expenditure of Rs8,000 crore for this fiscal to expand its four refineries at Kochi, Bina, Mumbai and Numaligarh.
- Supreme Court has extended deadline till 5th November for Jaypee Associates to deposit Rs2,000 crore to cover its liability towards those who bought homes in projects developed by its subsidiary, Jaypee Infratech Ltd. The company had to deposit Rs2,000 crore by 27 October.
- Ministry of Corporate Affairs has said that any resolution plan, which is executed as part of the Insolvency & Bankruptcy Code with NCLT nod, will not require debtor company’s shareholders approval.
- IDFC has started work on exiting $2.6 billion infrastructure and private equity business, IDFC Alternatives. IDFC has been one of the longest running risk investment managers in India.
- SoftBank has agreed to back a new lobby group for Indian internet startups, called Indiatech. It will provide financial and strategic support to the group, which has brought local internet companies together to fight foreign rivals.
- Venture debt fund firm Alteria Capital has received Sebi approval for creating Rs.1000 Crore venture debt fund. The fund will plug in gaps for growth stage companies at Series C and beyond levels.
*News as published in Business Standard, Live Mint and Economic Times.