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    KOGTA FINANCIAL

    Ontario Teachers’ buys into NBFC Kogta

    Ontario Teachers' Pension Plan Board acquired a significant minority stake in Jaipur-based NBFC Kogta Financial for Rs 1,230 crore ($148 million). The funds will drive growth, expand regional presence, and allow partial exits for existing investors Morgan Stanley and Creador. Kogta, specializing in vehicle finance and MSME loans, operates in 10 states with 225 branches and 5,000 employees.

    CPP Investments bets $1.2 billion in April-June quarter in India PE bets

    CPP’s investments spread across sectors and include its $333 million exposure towards Sequoia’s tech-focused India fund, while many other investments were co-investments, according to its presentation.

    Covered bonds help sub-AAA issuers raise cheaper funds

    Risk aversion due to Covid driving issues; investors protected against default and get attractive yields, while borrowers pay 50-125 bps lower. About a dozen non-banking companies raised covered bonds, through two routes: non-convertible debentures and market-linked debentures. About three-fourths of them are rated in the single-A category and have sold the securities in the primary market with mutual funds, insurers and pension funds investing in them.

    Covered bonds see surge in India with lower-rated cos lining up

    Investors in covered bonds have the right over a pool of assets held by the issuers, primarily non-bank lenders, in case of a default.

    PE fund Creador to sell Corona Remedies stake; eyes Rs 2,400 cr valuation

    Spark Capital is advising the PE fund for the stake sale. The proposed deal is expected to value Corona at Rs.2000-2400 crore.

    Creador buys out Tata Capital in Shriji Polymers

    Creador has acquired about 13% stake held by Tata Capital and another 4% stake held by promoters.

    The Economic Times
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