Deals Buzz: Hospital chain Apollo’s parent raises ₹1,000 crore

In different news, German development finance organization DEG, World Bank’s private-sector improvement arm IFC and Canadian pension fund CDPQ, are exploring a sale of their stakes in Azure Power, India’s first renewable power company to list on the US inventory market.
Mumbai: Mint brings you your dose of the top offers news, stated from newsrooms throughout the country.
Hospital chain Apollo’s dad or mum raises ₹1,000 crore
The promoters of India’s largest health center chain, Apollo Hospitals Enterprises Ltd, have raised ₹1,000 crore from Credit Suisse to meet near-term debt compensation responsibilities of the promoter group, Mint stated citing a person aware of the development. The momentary bridge financing raised by means of PCR Investments Ltd, which holds a 19.57% stake in Apollo Hospitals, is backed by means of pledged shares of Apollo Hospitals and private assurance of the promoters and has a repayment duration of 91 days. According to a recent credit ranking report with the aid of Brickworks, PCR Investments has a complete debt of ₹689 crore due for redemption this calendar year. The financing from Credit Suisse will help the promoters meet their debt duties till the time they close the these days introduced sale of their stake in health insurance joint venture, Apollo Munich Health Insurance.
Azure’s key buyers explore selling stake
German improvement finance institution Deutsche Investitions-fund Entwicklungsgesellschaft (DEG), World Bank’s private-sector development arm International Finance Corporation (IFC) and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), are exploring a sale of their stakes in Azure Power, India’s first renewable strength business enterprise to listing on the US inventory market, Mint pronounced citing two people conscious of the development. The improvement comes amid the impending exit of Azure Power’s founder Inderpreet S. Wadhwa as chairman, chief executive officer and board member of the organisation and all its subsidiaries. On 3 May, the company had announced Wadhwa’s retirement plans. New York Stock Exchange-listed Azure Power Global Ltd has a three gigawatts (GW) portfolio throughout 24 states in India. Founded in 2008, it had developed India’s first utility-scale solar task in the following year. Ahead of Azure’s initial public supplying (IPO) in 2015, CDPQ had picked up a stake worth $75 million as section of a non-public placement in Azure, which also counts IFC, DEG and project capital fund Helion Venture Partners as its investors.
Teabox raises $5 million in modern day funding round
Premium tea company Teabox raised about $5 million in fresh funding, led through Dubai-based NB Ventures and with participation of its existing investors, The Economic Times suggested the sum raised by way of the firm citing its sources. The ultra-modern spherical comes after the corporation raised $7 million in Series B funding in December 2017 from venture capital company Accel Partners, RB Investments and Ratan Tata. Prior to this round, it was stated to have raised about $10 million.

Leave a Reply