REDWOOD INVESTMENT
Salesforce is in advanced talks to buy Informatica: report
According to the Wall Street Journal, the price of the deal being discussed is below Informatica's current stock price of $38.48, which is a potential complication factor.
Byju’s lenders win fight over loan default, control of unit
Lenders have been pushing hard for the repayment of the $1.2 billion loan amid the company’s mounting distress after a pandemic-era boom in online learning fizzled out. Byju’s had been working to sell assets and deal with the loan issue when government investigators searched company offices this year.
Byju’s denies hiding $533 million in hedge funds, says money invested in ‘high-grade fixed income assets’
Byju’s statement was in response to a Bloomberg report that said the Bengaluru-based firm’s lenders had alleged that the edtech company hid $533 million in an obscure three-year-old hedge fund, operating from a pancake restaurant in Miami.
Byju's and the debt trap haunting Indian tech startups
Loss-making startups taking on debt is a sure-shot recipe for disaster, said a founder who has seen several funding cycles. “In the era of easy money and low interest rates, investors and lenders drastically lowered the bar on asset quality as they were desperate to fill the hole in their P&L ( profit & loss). But lenders who burned their fingers will never come back to the product,” he said.
Byju’s lenders open to negotiations, seek draft loan amendment proposal
Reject call for one-on-one meetings, will act collectively on disputed $1.2 billion term loan B
Byju’s to lay off more staff in fresh cost-cutting drive
The cost correction comes right on the heels of the company skipping a quarterly interest payment of about $40 million earlier this week on a $1.2 billion term loan B (TLB), which is the subject of litigation.
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Lenders call Byju’s lawsuit ‘meritless’, an effort to avoid obligations
After filing suit against American investment management firm Redwood and its entities, Byju’s missed its quarterly interest payment of about $40 million for the TLB, which was due by June 5.
Byju’s misses $40 million loan payment, sues term loan lender Redwood
In its suit, edtech major Byju’s sought to “disqualify” lender Redwood, which allegedly has taken on “predatory tactics”, and consistently increased its exposure by acquiring a sizable stake in the TLB with the intent of making windfall gains, the company said in a statement on Tuesday morning.
Timeline: Byju's $1.2 billion loan case
The edtech company missed the June 5 deadline to make a quarterly interest payment of $40 million, and said it would not make any further repayments.
Byju’s defaults on $40 mn loan payment, sues lender; Sequoia India is now Peak XV Partners
Days after its negotiations with creditors to restructure a $1.2 billion term loan fell through, edtech firm Byju’s missed a quarterly interest payment of $40 million on June 5, and sued the lenders in the New York Supreme Court. This and more in today’s ETtech Top 5.
Made-in-US rules for EV batteries shift in fine print of climate law
At stake over the coming weeks is the extent to which a critical part of the battery supply chain will end up being made in North America or remain where it’s currently concentrated, in Asia.
Electric cars are taking off, but when will battery recycling follow?
Sales of electric cars and trucks are taking off, and the auto and battery industries are investing billions of dollars to upgrade and build factories. These cars could help address climate change, but batteries pose their own problems.
Redwood Investments sells AU Small Finance Bank shares worth over Rs 1,247 crore
According to the shareholding data of AU Small Finance Bank for September 2020 quarter, Redwood Investment Ltd held 4.58 per cent stake, in the bank as public shareholders.
CBDT gives exemption to Abu Dhabi's sovereign wealth fund MIC Redwood for investments
The exemption has been given under the clause 23 FE of section 10 of the Income Tax Act which allows sovereign wealth funds to invest in infrastructure projects in India subject to conditions including prohibition from undertaking any commercial activity within or outside India.
Developer ESR acquires 39-acre land in Chennai for logistic park
ESR, a venture of private equity firm Warburg Pincus and global investors, said the warehousing space is witnessing high demand and the pandemic has boosted the sector further. The developer is also in talks to acquire another 60 acres of land in Chennai and 40 acres in Lucknow.
NSE-BSE bulk deals: Westbridge AIF buys 59.8 lakh shares of AU Small Finance Bank
Westbridge AIF bought 5,988,114 shares of AU Small Finance Bank at Rs 746.40 per share, while Redwood Investment sold 6,923,114 shares of the company at the same price.
Inside a $5.7 bn deal: Coronavirus couldn’t logout Facebook & Reliance from “Project Redwood”
Ambani and Zuckerberg had toyed with the idea of a collaboration almost 14 months back.
How much should I invest for next 25 years to create a retirement corpus of Rs 2 crore?
Do not set a target without assessing what your cost of living will be. You may need a higher corpus based on your living expenses later. Invest in EPF/PPF/NPS to the extent allowed for a tax deduction.
I will retire next month. How should I invest my retirement corpus of Rs 1.5 crore?
Expert suggests that you can invest Rs 1 crore equally among Franklin India Banking & PSU Debt Fund and Kotak Banking and PSU Debt Fund. The remaining Rs 1 crore including Rs 50 lakh additional capital, you can invest in ICICI Bond Fund, etc.
What are the best investment avenues for a millennial to invest Rs 10,000 per month?
If you have a fixed timeline and wish to go with a low-risk product, then invest Rs 10000 per month in a low duration debt fund or open a recurring deposit a/c. A low duration debt fund has no exit load and the money can be withdrawn whenever needed.
I will retire in 10 years and I want to put money in equity mutual funds. Where should I invest?
If the fund is a top-rated one, then consider averaging as this is a good time to lower your cost. In general, do not enter any equity fund unless you have a 5-year time frame.
How should I invest my monthly surplus savings?
You can put some amount in Fixed Deposits and some amount in equity as well as in debt-oriented mutual funds. Buy an individual health cover with a sum assured of at least Rs 5 lakh.
How to invest Rs 2 crore to earn monthly income of Rs 2 lakh
To earn an income of Rs 2 lakh per month or Rs 24 lakh per annum from the corpus of Rs 2 crore, you must return of 12 per cent. However, there is no fixed income instrument that can currently offer you such rate of return.
Actively or passively managed mutual funds: Which should you invest in?
An ET Wealth study finds that most actively managed equity schemes have beaten their benchmarks.
Though risk is low, arbitrage mutual funds don’t suit all investors
Some fund houses have started side pocketing in arbitrage funds, but investors need not panic. Here's why they are not riskier.
Anarock buys Redwoods’ residential business
Redwoods, meanwhile, plans to work on asset management, transaction advisory and land business apart from increasing focus on the commercial segment.
Google billionaire invests in matchmaking startup, Banihal
Banihal is entering a crowded market, but it was the same scenario for Google and that worked out very well for Cheriton.
After Flipkart, Tiger Global bets on Indian robot maker Grey Orange Robotics
Grey Orange Robotics received about Rs 54 crore in the round where two angel investors Raju Reddy and Dileep Nath also participated.
Things you should consider before planning a trip to New Zealand
On an average, an Indian visitor spends NZD 3,428 (Rs 1.59 lakh) per visit, excluding air fare. The average stay is around 12-15 days.
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