FIRST TRANCHE
JICA signs pact for final tranche of Rs 4,657-crore loan for Mumbai Metro Line 3
The Japanese International Cooperation Agency (JICA) has signed the final tranche of a Rs 4,657-crore loan for the Mumbai Metro Line 3 project. This completes the funding for the 33.5-kilometre underground metro line connecting key areas in Mumbai.
Purplle’s Rs 1,000 crore funding; FirstCry, Unicommerce IPOs cleared
Omnichannel beauty platform Purplle has closed a Rs 1,000 crore funding round. This and more in today’s ETtech Top 5.
Maiki South Mining secures India's first Lithium and REE blocks of Chhattisgarh with FPO of 76.05%
On Monday, Union Minister G Kishan Reddy granted the first Lithium block, Katghora, and the Rare Earth Element (REE) Block of Chhattisgarh to Maiki South Mining Private Limited, with a Final Percentage Ownership (FPO) of 76.05%. India currently depends significantly on imports to fulfill its demand for crucial minerals such as Lithium, Niobium, and Rare Earth Elements (REE). These minerals are essential for emerging technologies like electric vehicles, pharmaceuticals, and defense manufacturing.
RBI, govt accept no bids at first sovereign green bond auction of FY25
With the Centre sitting on a considerable cash surplus at the moment, it had likely opted to cancel the green bond auction than settle for a lack of a premium, or “greenium” at the auction. The government had planned to raise Rs 6,000 crore through 10-year green bonds at Friday’s auction.
Meesho closes $275 million funding in first tranche, in talks for more
Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.
Indian Army to get first Hermes-900 drone on June 18, to boost surveillance on Pakistan border
The Hermes-900 known as the Drishti-10 drone is being supplied to Indian forces including Indian Army and Navy by AdDefence Systems. The first Hermes-900 was delivered to the Indian Navy in January this year. The second drone is being taken by the Army.
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US releases first tranche of student visa appointments in India for September 2024 intake
The United States Embassy released the first tranche of student visa appointments in India for September 2024, aiming to expedite processing. Ambassador Garcetti leads efforts to reduce visa wait times, emphasizing the importance for Indian students.
The Sleep Company rolls out second tranche of Rs 2.4 crore ESOP buyback for employees
“The Sleep Company introduced its ESOP programme three years ago, with the goal of providing employees with consistent wealth creation opportunities. We strongly believe that every employee must be rewarded for their contribution to the growth and success of the company and thus employees across the board will get the same amount of ESOP under the current plan,” Priyanka Salot, cofounder, The Sleep Company, said in the statement.
Sovereign Gold Bonds up for final redemption in 2024: Tentative dates of SGBs up for redemption this year
SGB final redemption dates: This year, already two Sovereign Gold Bond (SGB) Schemes launched in 2016 have come up for final redemption. Let us see the tentative dates of SGBs up for financial redemption in 2024.
India releases second tranche of INR/Nu 5 billion to Bhutan for GyalSung Infrastructure Project
The MoU, which was signed in January 2024, provides a framework for the disbursal of INR/Nu 15 billion as concessionary financing to the Government of Bhutan for infrastructure development related to the GyalSung academies.
Yotta gets first tranche of 4,000 GPUs from Nvidia
Yotta Data Services has plans to scale up its GPU stable to 32,768 units by the end of 2025.
NCLAT upholds Jet Airways' ownership transfer to Jalan Kalrock Consortium
The NCLAT has directed the monitoring committee of Jet Airways to complete the transfer of the airline's ownership to Jalan Kalrock Consortium (JKC) within 90 days. The tribunal also directed JKC to obtain an air operator's certificate within the same period. Additionally, the NCLAT allowed the adjustment of the Performance Bank Guarantee of Rs 150 crore towards the first tranche payment of Rs 350 crore.
First tranche of offshore mineral auction expected by mid-2024: Pralhad Joshi
The first tranche of offshore minerals auctions, including 10 blocks, is likely to kick off by June-July this year. The auctions are being conducted under the amended Offshore Areas Mineral (Development and Regulation) Act, 2002 to award production leases for gold, diamond, copper, nickel, cobalt, copper, manganese, and rare earth elements reserves.
Puma launches 100 million euro share buyback programme
German sports apparel company Puma plans to return up to 50% of its net income to shareholders, it said on Thursday. The company will now return between 25-40% of the Group's net income in dividends, up from 25-35%, the statement said.
Why Ajay Singh of troubled SpiceJet seeks redemption in bankrupt Go First
Ajay Singh, known for turning around airlines, has bid for the bankrupt Go First airline. However, his own airline, SpiceJet, is also facing financial challenges. Turning around Go First will be a difficult task, but restarting the airline quickly is the best hope for its success.
Revival of bankrupt Go First airline will 'Spice' up India's aviation
Go First receives bid from Ajay Singh and Busy Bee Airways, blaming Pratt & Whitney for revenue losses. SpiceJet plans to partner with Go First, despite its own financial struggles. Market share consolidation in the aviation sector raises concerns about competition and service quality.
Pakistan likely to get $700 million from IMF as next tranche of bailout this month: Report
Pakistan is expected to receive USD 700 million as the next tranche of the bailout from the IMF when the Executive Board of the lender meets on January 11. The meeting is set to discuss and potentially grant final approval for the disbursement under the existing USD 3 billion Stand-By Arrangement (SBA). The current IMF programme is expected to conclude in the second week of April, with approximately USD 1.8 billion remaining undisbursed.
Sale of 30th tranche of electoral bonds to start on Tuesday
The finance ministry further said electoral bonds will be valid for 15 calendar days from the date of issue, and no payment will be made to any payee political party if the bond is deposited after the expiry of the validity period.
Latest Sovereign Gold Bond (SGB) tranche issue price is the highest since launch in 2015
Let us see how the SGB issue price has evolved since the first SGB tranche was launched and which one had the highest issue price till now.
New Sovereign Gold Bond tranche open for subscription: Know latest SGB issue price
Sovereign Gold Bond: The nominal value of the SGB based on the simple average of closing price for gold of 999 purity of the last three working days of the week preceding the subscription period.
Split money across two SGB tranches, gold prices have support: Analysts
The third tranche of the SGB in this financial year is available for subscription December 18-22, while the fourth will open in February. Investors will have to pay ₹6,149 per gram of gold after a discount of ₹50 per gram for digital payments. This is ₹276 per gram higher than the price during the second tranche in September 2023 (₹5,873).
Redemption price of first ever Sovereign Gold Bond (SGB) tranche announced; investors to earn 11%
Sovereign Gold Bond: The first SGB was released on November 30, 2015. In accordance with the terms of the arrangement, the bonds must be repaid eight years after they are issued. As a result, on November 30, 2023, the first tranche of SGB will mature.
IMF's second tranche finalisation to Sri Lanka in December: Central bank governor
Sri Lanka was hit by its worst economic crisis in history when the country's foreign exchange reserves fell to a critical low and the public came out on the streets to protest the shortage of fuel, fertilisers and essential commodities.
Sale of 29th tranche of electoral bonds begins
The government approved issuance of the latest round of electoral bonds, days after the Supreme Court reserved its verdict on a batch of petitions challenging the validity of the electoral bonds scheme for funding political parties.
Swan Energy-Hazel Mercantile make payment of first tranche to acquire Anil Ambani’s Reliance Naval and Engineering Ltd
Swan Energy partnered with resolution applicant Hazel Mercantile Ltd through its special purpose vehicle – Hazel Infra Ltd – to acquire RNEL under IBC. After this payment, the company will be handed over to the winning bidder.
Maharashtra government sanctions disbursement of Rs 1,700 crore as first tranche under farmer scheme
This new financial scheme under which more than 1 crore farmers in the state will be paid Rs 6,000 annually was approved at a Cabinet meeting in May. The scheme was announced in the 2023-24 budget by Deputy Chief Minister Devendra Fadnavis, who was holding the finance portfolio at that time.
Mahindra Last Mile Mobility receives the first tranche of Rs 300 crore from IFCI
Mahindra and Mahindra has received the first installment of ₹300 crore from the International Finance Corporation (IFC) for its electric vehicle division. The IFC had committed to investing ₹600 crore in the division, which is the first investment in an EV maker in India by the IFC.
Pakistan receives $1.2 billion first tranche from IMF bailout
Having been teetering on brink of a sovereign debt default, Pakistan earlier this week also received $1 billion from the United Arab Emirates and $2 billion from Saudi Arabia, as both governments were reassured by the agreement struck between Islamabad and the IMF at the end of June.
Sri Lanka receives first tranche of IMF bailout
The island nation was scheduled to receive a $330 million tranche, the first part of a nearly $3 billion bailout approved by the International Monetary Fund on Monday.
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