PIRAMAL ALTERNATIVES
Moody's assigns Ba3 rating to Piramal Capital and Housing Finance, outlook Stable
he rating agency said that Piramal Finance is driven by its high capitalization and an increasingly diversified portfolio mix, offset by its relatively low profitability, risks from its legacy real estate exposures and wholesale funding.
Turnaround slower, but VIP's on recovery path: Chairman Dilip Piramal
VIP Industries posted a 10% rise in net sales at Rs 2,215 crore last fiscal. However, net profit plunged to Rs 28 crore in FY24 from Rs 161 crore in the previous fiscal.
Euler Motors raises Rs 200 crore from Piramal Alternatives, others
Euler Motors raised Rs 200 crore in funding led by Piramal Alternatives India Access Fund. The firm aims to become India's top electric commercial vehicle brand, with plans to expand to 40 cities by FY25.
Piramal Alternatives leads Euler Motors’ Rs 200 cr fundraise
Euler Motors, an electric three-wheeler maker, raised Rs 200 crore ($24 million) led by Piramal Alternatives India Access Fund, with British International Investment and Blume Ventures also participating. Total funding now stands at Rs 570 crore. The funds will support expansion to 40 cities and enhance R&D efforts.
Piramal Group arm invests Rs 600 crore in microlender Annapurna Finance
Piramal Alternatives acquired a stake in Annapurna Finance, becoming a top shareholder. Nuveen holds 11%. Kikani cited microfinance's 32% CAGR. Annapurna's AUM is ?10,400 crore. Pattanaik emphasized growth capital's significance.
Piramal Alternatives buys 9.85% stake in Annapurna Finance for Rs 300 cr
Piramal Alternatives, the investment arm of the Piramal Group, has picked a 9.85% stake in Odisha-headquartered micro lender Annapurna Finance through secondary equity deals.
Piramal Enterprises back in the black on large tax write-back
On an annual basis, PEL swung to a loss of 1,684 crore from a profit of 9,969 crore, due to the impact of AIF provisions during the fiscal.
India has cracked the code on drawing foreign capital: Charles Emond, CEO CDPQ
Portfolio stands at $6.7 bn in India since 2016, Canada’s 2nd largest pension fund looks to deploy $4 bn in realty, infra in as many years. India according to the investment veteran must strive to become a lower-cost producer in higher skilled industries. CDPQ CEO Charles Emond is confident that the firm will be able to maintain the investment momentum over the next 5 years, which may put India as the largest investment destination in APAC, growing "pretty fast compared to other destinations."
Piramal Alternatives invests Rs 110 crore in Biodeal Pharmaceuticals
Piramal Alternatives invested Rs 110 crore in Noida-based Biodeal Pharmaceuticals through convertible instruments. The funding will enhance infrastructure, technology, and a nutraceuticals manufacturing facility. Biodeal is a key contract manufacturing player, specializing in nasal sprays and achieving PIC/S approval.
CCI clears IndoEdge's stake purchase in MG Motor India, other deals
The acquisition of shares in MG Motor India will grant IndoEdge India Fund 8.70% of the voting and economic rights, according to a statement by the antitrust regulator. The acquirer is a large value fund for accredited investors, a scheme by IndoEdge which is a contributory determinate trust registered with the Securities and Exchange Board of India as an alternative investment fund, it said.
Edelweiss Alternatives lends Rs 700 cr to Vatika Hotels to refinance existing debt
Vatika Hotels (VHPL), established in April 2004 in New Delhi, is a special purpose vehicle (SPV) under the umbrella of the Vatika Group, which makes condominiums and community housing in Gurgaon and the surrounding suburbs of New Delhi.
Provisions for AIF rules drags PEL to a loss in Q3
The company made a Rs 3540 crore provision on its AIF investments registering a loss of Rs 2378 crore in December 2023 from a profit of Rs 3545 crore in the previous year despite healthy growth in its loan book.
Apex PE-VC body seeks govt's help to ease AIF curbs
The industry is concerned about the close-ended nature of AIFs, where institutions with existing lending relationships with investee portfolio entities face a tight 30-day timeline from December 19, 2023, to liquidate investments, failing which they must provision 100% for such investments.
Piramal to provide for AIF exposure as RBI tightens rules
Piramal Enterprises announced it would allocate funds to cover its exposure to alternate investment funds (AIFs) following the Reserve Bank of India's (RBI) recent tightening of rules on such holdings. The RBI prohibited entities under its regulation, including banks and non-banking finance companies, from investing in AIFs with investments in borrowers in the past 12 months.
Piramal Enterprises to provision for AIF exposure as RBI tightens rules
India's Piramal Enterprises plans to set aside provisions for certain exposures to investments in alternate investment fund (AIF) units, following the Reserve Bank of India's tightening rules. The RBI has barred all entities from investing in AIFs with borrowers in the past 12 months. As of November 30, Piramal's AIF investments were valued at Rs 38.17 billion.
RBI circular impact: Banks may have to set aside more cash, AIF inflows to be hit
A Reserve Bank of India (RBI) circular issued Tuesday prohibits banks and NBFCs from investing in AIFs to prevent questionable asset transfers. This will affect large banks and NBFCs involved in AIF investments. "This RBI measure imposes significant requirements on banks and NBFCs," said Sai Krishna Bharathan, Partner, Trilegal.
Piramal Alternatives to deploy Rs 200 crore in ATM player TSI India
The country’s leading ATM operator, Transactions Solutions International (India), has secured Rs 200 crore of investment from Piramal Alternatives. TSI has more than 14,000 ATMs under management and offers automated Bill Pay solutions for utility companies.
ETtech Deals Digest: No festive cheer for startup funding in October; investments down over half to $538 million
A majority of the investment was seed-stage funding, across 92 rounds. In October last year, startups had raised a total of $1.14 billion across 149 rounds, as per Tracxn data. Signs of a funding winter had begun to emerge from September 2022.
PMI Electro Mobility Solutions secures Rs 250 cr investment from Piramal Alternatives
The funds are planned to be strategically utilised in developing innovative solutions, bring technological advancements to the company's production capabilities and scale its operations.
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