Read latest India business news headlines 25th June 2018:
- Asian Infrastructure Investment Bank shall invest $200 million in National Investment and Infrastructure Fund in 2 phases. It’s the largest investment of AIIB.
- Visa, the digital payments network, is close to investing around $250 million in BillDesk. BillDesk is the largest payment processing company in India. The funding will help BillDesk to further strengthen its position.
- Temasek Holding is set to unveil a $250-million stake (around 20%) buy in UST Global. The investment will make UST one of the largest privately held domestic technology services companies. UST Global plays on domain expertise in BFSI, retail and manufacturing and offers off-the-stack platform solutions.
- Hero cycles is planning for a Rs 250 crore investment for its Punjab factory. It is also working to sign around 10 Joint ventures in countries like Germany, China, Taiwan and Japan which will help Hero motors to be valued at Rs 3 trillion in the market.
- Reliance Industrial Investments Holdings may lend around ₹ 750 crores to Indian Film Combine Pvt. Ltd for corporate purposes. RIIHL had earlier acquired a 65% stake in the firm for ₹ 1,105 crores. The loan would, however, be disbursed in tranches.
- Morgan Stanley has raised close to $300 million in commitments for its India-focused infrastructure fund and is expected to make a formal first close soon. It is looking to raise around $600-700 million in total for the fund.
- The merger of Idea and Vodafone may not meet the expected 30 June timeline as DoT is looking to raise a fresh demand of around Rs4,700 crore related to one-time spectrum charges.
- The Government is in preliminary discussions with LIC for infusion of money in IDBI Bank. It would not be a stake sale but LIC would be able to use that amount to capitalize the bank to maintain its capital adequacy ratio.
- Jaguar Land Rover, owned by Tata Motors, shall invest Rs.1.2 Lakh Crore over the next three years. The funds will help the firm to stay ahead in the electric vehicle race from its rivals like Audi, Mercedes.
- Housing Development Finance Corp. and Kotak Bank are competing for a controlling stake in PNB Housing. PNB Housing and Carlyle want to sell 66% stake to a large investor and the deal may fetch around Rs.6000 Crores.
- DoT has given up hopes to recover Rs.6000 Crores from Aircel, which has a debt of around Rs.19,000 Crores just to the lenders.
*News as published in Business Standard, Live Mint and Economic Times.