KERALA INVESTMENTS
KKR set to acquire Kerala's Baby Memorial Hospitals, make a comeback in hospital segment
KKR & Co plans to acquire a 70% stake in Kerala's Baby Memorial Hospital (BMH) for $300 million, marking its return to the Indian hospital sector. BMH, with 500 beds and expansion plans, is among Kerala’s largest hospitals. This move aligns with KKR’s strategy of expanding healthcare assets in India.
CSB Bank shares surge 7% as FIH Mauritius likely offloads stake via block deal
Shares of CSB Bank, headquartered in Kerala, surged by 7% during the early trading session on the BSE, reaching Rs 382.10 per share. This increase followed news of investment firm FIH Mauritius selling a significant 9.6% stake in the bank through a block deal. The transaction, managed by IIFL, involved the sale of 1.68 crore shares of CSB Bank at a price of Rs 352.40 per share, reflecting a 1% discount to the previous day's closing price of Rs 355.95.
Fairfax Group likely to sell 9.72% in CSB Bank
According to the term sheet issued by the banker IIFL, FIH Mauritius Investments, an entity belonging to Fairfax Group is expected to sell 1.68 crore shares in the Kerala-based bank at a floor price of ₹352.4 per share. The floor price represents a 1% discount to Wednesday's closing price of ₹355.95.
Fairfax Group to sell a 9.72% stake in CSB Bank via block deal
FIH Mauritius Investments is likely to sell a 9.72% stake in CSB Bank on Thursday through block deals to raise about Rs 595 crore. According to the term sheet issued by the banker IIFL, FIH Mauritius is expected to sell 1.68 crore shares in the Kerala-based bank at a floor price of Rs 352.4 per share.
Online investment scam: Fake Invesco, Goldman Sachs agents dupe Kerala man Rs 7.5 crore
A man from Kerala was scammed of Rs 7.55 crore by fraudsters posing as representatives from Invesco Capital and Goldman Sachs, who tricked him with a fake account balance. To prevent such scams, be vigilant of unsolicited offers, research investments, and refrain from sharing financial details.
Kerala's financial crisis artificially created by Centre, alleges state finance minister K N Balagopal
The Kerala government accused the Centre of undermining the country's federal structure, leading to a financial crisis in the state. Finance Minister Balagopal said that the Centre's treatment of funds raised by the Kerala Infrastructure Investment Fund Board (KIIFB) as part of Kerala's borrowing severely impacted resource mobilization initiatives. Despite challenges, KIIFB spent Rs 29,100 crore on projects, aiming for Rs 50,000 crore in total.
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AIF & PMS Conclave 2.0: Saurabh Mukherjea on five big themes in India where investors stand to benefit
Market veteran Saurabh Mukherjea on Wednesday said five big themes that have contributed to a rise of new elite in India can make their way into the portfolios of investors looking for consistent returns.
ED raids Kerala-based ponzi company that duped depositors of Rs 1,500 crore
The Enforcement Directorate Friday said it raided multiple locations in various states as part of a money laundering investigation against a Kerala-based company that allegedly duped depositors to the tune of Rs 1,500 crore through a ponzi scheme. The searches were launched on June 11 on the premises of the promoters of HighRich Online Group in Kerala, Maharashtra and Chhattisgarh.
Maharashtra, Karnataka, Delhi top UK's investment flows from India: Report
Maharashtra, Karnataka, and Delhi led in bringing foreign direct investment (FDI) to the UK, per a CII and Indian High Commission joint report. The report highlighted the contributions of Indian companies in various sectors, showcasing their positive impact on the UK economy, job creation, and cultural diversity. Additionally, it notes the significant economic ties between India and the UK, with India being the UK's second-largest source market.
NDA ahead in Andhra, Karnataka, DMK and Congress on way for a repeat of 2019
In Andhra Pradesh, the NDA was leading in 20 of the 25 Lok Sabha polls. While N Chandrababu Naidu-led TDP was ahead in 15 seats, allies BJP and Janasena Party were leading in three and two seats, respectively. Ruling YSRCP candidates were leading in the rest.
As LDF Govt hits 3-yr mark, CM highlights feats of Kochi Water metro, highways, industrial growth
Kerala's Chief Minister Pinarayi Vijayan, leading the Left Democratic Front (LDF) government, celebrated the state's three-year progress. Achievements include advancements in the IT sector, startup industry, and public welfare schemes, showcasing Kerala as a model for governance and quality of life.
Why does gold have an important place in everyone's portfolio, irrespective of age and gender?
As Akshaya Tritiya approaches, a time considered auspicious for buying gold for prosperity and good fortune, the gold-buying frenzy is about to be unleashed notwithstanding the current stratospheric rates gold has reached currently. The decision to buy gold this Akshaya Tritiya depends on several factors. Check here before you invest.
NDA is already near 200 seats, on track to get past 400: Amit Shah
Union Home Minister Amit Shah is confident that the BJP will achieve its 400-paar figure this election and says the party would win up to 200 of the 283 seats in the first three phases alone. In an interview with Rahul Tripathi and Pranab Dhal Samanta, he says that elections will be held in Jammu & Kashmir ‘according to court dates’ and opposes any reservation based on religion. Excerpts:
NBCC bags contracts worth Rs 450 crore in Chhattisgarh, Kerala
NBCC obtained Rs 450 crore contracts from the Supreme Court's Receiver for projects in Chhattisgarh and Kerala. ASPIRE aims to complete 38,000 flats. R Venkataramani is involved. The contracts were disclosed in a regulatory filing.
Birla unit acquires ARMC IVF Fertility Centre to foray into South Indian market
Birla Fertility & IVF acquired ARMC IVF in South India, expanding to 37 centres. Avanti Birla praised Dr KU Kunjimoideen. Rs 500 crore investment planned for 100 clinics.
India can't, in the name of open economy, open up its national security to work with China: S Jaishankar
From the big shifts in foreign policy under the Modi government, the China challenge to CAA and the heat and dust of electoral politics, External Affairs Minister S Jaishankar touched on a range of topics in a freewheeling discussion at the ET Roundtable.
Pathanamthitta: A battle of Antony Vs Antony Vs Isaac in electoral maze
In Kerala's Pathanamthitta constituency, known for Sabarimala, a three-way battle unfolds among prominent Christian candidates. Congress' Anto Antony seeks a fourth win, facing BJP's Anil K Antony, who switched from Congress, and LDF's Thomas Issac, aiming to convert assembly dominance to a Parliament seat. Congress highlights ousting Modi, while LDF emphasizes anti-BJP stance. Anil K Antony aims to build on BJP's 2019 votes. The election is seen as a test of Congress-LDF-BJP dynamics in the region.
Water crisis a signal for Bengaluru to step up infra game, says ex-IIMB faculty Rajeev Gowda, contesting Bengaluru North for Congress
Gowda (60), son of former Assembly Speaker MV Venkatappa, will be facing off against BJP MP & Union MoS Shobha Karandlaje in a high-stakes battle in the 33 lakh-voters strong constituency on Friday. Entering the electoral fray for the first time, he is also the vice-chairman of the State Institute for Transformation of Karnataka (SITK), the state-own version of Niti Aayog, and has worked on metro-feeder buses in the city.
Kerala HC grants relief to Thomas Isaac in masala bond case probe
The court scheduled a detailed hearing for May 22 on the pleas filed by Isaac and the Kerala Infrastructure Investment Fund Board (KIIFB) in connection with the ED investigation into the case.
Congress aids BJP in targeting KIIFB, says Pinarayi Vijayan
Kerala CM Pinarayi Vijayan accuses BJP and Congress of targeting Kerala Infrastructure Investment Fund Board (KIIFB) for political gain. He defends KIIFB's transparency, alleging central agencies' conspiracy. Vijayan claims development projects under KIIFB have benefitted all constituencies equally, dismissing accusations of financial mismanagement as politically motivated. Kerala's achievements recognized by NITI Aayog.
Make for India momentum clearly building, throwing up new investment opportunities: Blackstone COO Jonathan Gray
Fund plans to annually deploy at least $2 billion for next 5 years. But Gray feels taking companies private in India is a big challenge, as is dispute resolution mechanism and M&A completion timelines.
Thousands of Keralites working in IT cos in Bengaluru: Karnataka Minister tells Kerala counterpart, objecting to his offer of water to IT giants in coastal state
ET had, on March 27, reported about the Kerala Industries department writing to top-tier technology companies in Bengaluru to consider the coastal state for expansion.
FM Sitharaman rakes up scams, unemployment, Kerala's economic situation to attack LDF, UDF
Nirmala Sitharaman criticizes Kerala's poor fiscal management by UDF and LDF, surpassing borrowing limits through entities like KIIFB, impacting state development. She highlights significant differences in tax devolution under UPA and Modi governments.
Water Crisis: Kerala writes to top IT firms in Bengaluru, offers office space
Kerala seeks tech investments amid water shortage in the country’s tech hub. The state aims for one million tech workers, Kerala Industries & Law Minister P Rajeeve said.
PM Modi assures BJP candidate of strict action over Kerala Cooperative Bank irregularities
Prime Minister Narendra Modi conversed with BJP candidate Professor T N Sarasu, who is contesting in Kerala's Alathur Lok Sabha constituency, assuring her of strict action against those involved in reported irregularities in cooperative banks in the state. During the conversation, Modi inquired about Sarasu's campaign progress and expressed support for her efforts in addressing public concerns.
Kerala CM Pinarayi Vijayan launches India's first state-owned OTT platform
"Private OTT platforms give prominence to films in the most widely spoken language since their prime motive is to maximise profit. The priority of CSpace, on the other hand, is to onboard and stream contents with artistic and cultural values. This will also help the promotion of the Malayalam language and culture," Vijayan said.
Kerala Budget: Here's what gets costlier after budget announcement
The Kerala government has raised liquor prices and court fees to generate additional funds for development works. The excise duty on Indian-made foreign liquor (IMFL) has been increased by Rs 10 per litre, aiming to generate revenue of Rs 200 crore. Additionally, court fees and electricity duty for self-power generation have been increased. The budget also focuses on enhancing the agricultural sector, extreme poverty eradication, and the cooperative sector.
Kerala Budget 2024 Highlights: Liquor, power tariff to go up
Kelala Budget 2024 Highlights: Kerala Finance Minister KN Balagopal presented the state budget for 2024-25, focusing on key sectors and initiatives. The budget includes allocations for Sabarimala master plan, MSME sector, cashew sector, and addressing flash floods in Kochi. It also emphasizes the development of the Zoological park in Thrissur and the establishment of a Tiger safari park in Kozhikode. Other highlights include the promotion of sandalwood cultivation, investments in soil protection and safe vegetable projects, and rehabilitation of coastal areas.
ED issues fresh summons to former Kerala minister in KIIFB masala bonds case
Kerala CPI(M) leader Thomas Issac has received a fresh summons from ED about Rs 2,000 crore raised by KIIFB through masala bonds and it's compliance with the FEMA norms. Fresh summons were issued in light of the High Court giving the green light to ED to carry out its investigation recently.
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