The ensuing liquidity crisis has prompted many MFIs to seek a moratorium on loan repayment to banks.MFIs raise 75-80 per cent of their funds via bank borrowings, 15 per cent from equity and another 10 per cent from other sources like cash securities.
Reliance Industries (RIL), India's largest private sector company, is finalising a new alliance with engineering and project management partner Bechtel Corporation, as it prepares to enter the power sector.
The provision in the new mining bill approved by a group of ministers last week for 26 per cent profit sharing by mining companies with affected residents of the area they operate in hasn't been welcomed by many in the sector.
The two arms of L&TFH are L&T Finance, with its retail, micro-finance and corporate loan portfolio, and L&T Infrastructure Finance.
Arcil acquires non-performing loans from banks and financial institutions along with the underlying securities mortgaged or hypothecated by borrowers to the lenders.
The company is currently developing the Mmamabula Energy Complex -- a mining, power and potential coal-to-hydrocarbons facility -- in the landlocked southern African country of Botswana.
The diversified steel-to-telecom Essar Group, with revenues of $ 15 billion, is readying to consolidate its retail initiatives under one roof to maximise synergies and explore new avenues of growth. To shape its plans, Essar is forming a centralised retail think-tank at a group level to strategise the conglomerate's future course of action.
Akula may be much celebrated, but he is not alone. There are dozens of MFI success stories, all of whom have surfaced over the last five-seven years, with a common mandate to "eradicate poverty", profitably. With a turnaround time for MFIs at one or two years, competition among the top few MFIs is intensifying to attract equity investments. Interestingly, with barely 15 per cent of rural households currently MFI borrowers, there is sufficient leeway for growth.
Firm regains volume growth via focus on market share, market development, margins and consumers' mood
A cross-border takeover thriller that not only saw corporate action but also diplomatic dealings and slugfests among bankers.
The Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail company of Vishal Retail Ltd, after leading private equity investor Texas Pacific Group takes charge of its wholesale division. This will be subject to approval from all stakeholders and regulators.
The Ruias of the Essar Group will now be getting around $750 million (about Rs 3,493 crore) more from their telecom joint venture partner, Vodafone Group, over and above the fair market price if they exercise the "put" option for their 33.02 per cent stake.
Banga has hung up his Unilever boots and moved on to private equity firm Clayton Dubilier & Rice (CD&R) as an operating partner.
A new government has taken office in Australia, which has said it will review its predecessor's controversial proposal for a 40 per cent super-profit tax on mining revenues.
JV formed for Saudi infra projects, focus on contracts from other countries as well.
In the last two years, several Indian companies have ventured into Singapore by acquiring small and medium companies at low prices.
At least four global cement majors, Lafarge, CRH, Heidelberg Cement and Intalicementi, are in the race to buy a little-known cement company in Maharashtra Murli Industries with a total capacity of 2.9 million tonnes.
Even as India's annual inflation rate touched 10.16 per cent in May, Finance Minister Pranab Mukherjee on Monday ruled out the possibility of interest rates rising in the short term. He said he expected inflation to be on the higher side till the middle of July.
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
RIL, RCom working on partnership blueprint.
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