Brookfield expands green footprint, buys 51% stake in CleanMax Enviro
This will be Brookfield's second renewable deal in as many months, having agreeing to invest $1 billion in serial Avaada Ventures, run by serial entrepreneur Vineet Mittal.
This will be Brookfield's second renewable deal in as many months, having agreeing to invest $1 billion in serial Avaada Ventures, run by serial entrepreneur Vineet Mittal.
Tomorrow's MPC meeting is the first in the current financial year. In FY23, the MPC had raised the repo rate by a cumulative 250 bps to 6.5 per cent. The latest inflation print, for February, stood at 6.44 per cent, breaching the upper limit of RBI’s tolerance band of 2-6 per cent for the second straight month.
Preliminary discussions begin afresh as valuation falls to Rs 5800-6000 crore. KKR was the original backer of Abhay Soi led Radiant that acquired Max Healthcare. This follows a full-blown auction process that ran for several months, drawing interest from Temasek-backed Shears Healthcare, CVC Capital, Carlyle and the Ahmedabad-based Torrent Group.
Banks reported a record level of NIM in Q3 FY23. The asset quality of banks have also improved and is on the right track to reach Pre-AQR levels. Bank profits have also risen in the third quarter of financial year 2023.
An agreement has been signed last week and the deal will value the project at an enterprise value of ₹1,600 crore (about $200 million), they said. A Macquarie spokesperson declined to comment. A BSCPL spokesperson did not respond to calls and messages.
The review is part of an annual exercise undertaken by lenders to evaluate the company's operations and assign capital on the loans. Lenders have progressively increased AEL's loan limits but this is an exceptional year since the group is reassessing funding needs.
These funds will be used to part-finance the planned ₹5,000-crore equity infusion by the promoters into Vi, following the Indian government's decision to convert dues worth ₹16,133 crore into equity, said two people directly aware of the matter.
RBI is expected to pause the rate hiking cycle in the February meeting and will maintain the repo rate at 6.25 per cent for extended period. It might also change the policy stance to neutral.
Given that the credit-to-deposit (CD) ratio for the banking system is expected to continue firming up, overall gross bond issuances is expected to create an all time high of Rs. 1.3-1.4 lakh crore by the end of the current fiscal year, domestic rating agency ICRA has estimated.
The move is aimed at lowering the ports-to-power group’s overall burden of repayments, which has come under the spotlight as Asia’s richest person pursues a string of ambitious acquisitions to diversify into sectors like green energy, digital services and media.
"If you recall we had gone for a dollar bond issue of ($400 million) in January. We have retired all the high cost INR debt, which was at 9.5%. We could get it at 4.95%,” said Lalit Singhvi, chief financial officer at JSW Infrastructure, which is part of the $22 JSW Group.