Top business news today India in English

Top business news today India in English

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Top business news today India in English, Let’s see more business news, including Air India’s loan from Japan Bank, and Mumbai couple’s 1,100 crore investment in Spice Jet.

Blackstone out of ‘Embassy REIT’

US-based private investment bank Blackstone has launched India’s first real estate investment trust, Embassy R. EIT has sold its entire 23.50 per cent stake in the company for Rs 7,100 crore.

The price per share was fixed at Rs 316.10. Although this is slightly higher than the minimum bid price of Rs 310, it is seen as a discounted price compared to yesterday’s market price of Rs 332.11.

Capital Expenditure of Public Sector Undertakings

In the first half of the current financial year that ended last September, the capital expenditure of public sector enterprises reached 3.79 lakh crore rupees, reaching 52 per cent of the budget estimate, according to the Union Finance Ministry.

It was 43 per cent of the budget estimate at Rs 2.85 lakh crore in the corresponding period of the previous year. In the current financial year, the capital expenditure of public sector enterprises is estimated to be Rs 7.33 lakh crore.

Mahindra sold its entire stake in the subsidiary

‘Mahindra Logistics’ Corporation, its associate company ‘D. L. PL has announced that it has sold its entire 39.79 percent stake in Transtech Logistics.

After this sale, DSPL will no longer be an affiliate of Mahindra Logistics. Further, Mahindra’s 39.79 per cent stake in DLPL has been transferred to Amar Nath Kalale, one of the founders of DLPL; It is also reported that he has no connection with Mahindra company.

A Mumbai couple invests in Spice Jet

The principals of Mumbai’s Mahabhadra Universal have bought 21 per cent stake in the financially distressed Spice Jet for Rs 1,100 crore.

Mumbai-based businessman Harihara Mahabatra and his wife Preethi Mahabatra have announced that they have invested in the shares of the struggling SpiceJet. Both of them have jointly invested in 21.98 percent shares and through cash transaction, they have invested Rs 1,100 crore for this purpose, Spice Jet said.

Air India loan to Bank of Japan

Air India has taken a loan of Rs 996 crore from Japan’s SMBC Bank.

It has been reported that this loan has been used to pay for Airbus’ Thin A 350-900 aircraft purchased by Air India last October.

An A350-900 is said to cost more than Rs 2,500 crore. Air India’s ‘A.I. Fleet Services’ company, which is headquartered in Gipt City, Gujarat, has bought this loan.

Penalty Fee Waiver

Power weavers have welcomed the Electricity Regulatory Commission’s announcement of waiver of electricity penalty charges for power looms. The Tamil Nadu government increased the electricity tariff last year. 50 percent reduction due to power loom owners’ agitation. It also allowed payment of fees in installments.

However, the penalty amount was not cancelled. The Electricity Regulatory Commission has now announced that the penalty fee is being waived following the continuous insistence of power weavers.

New share issue permitted to 3 companies

‘Jyoti CNC, Automation, P.L. Market regulator SEBI has given permission to three companies namely S., E-Services and Popular Vehicles and Services to raise funds through issue of new shares. Jyoti CNC, Automation: The company is looking to raise Rs 1,000 crore. C.N. The company is one of the leading manufacturers in the ‘Computer Numerical Control’ segment.

PLS, E-Services: The company is going to issue 2.41 crore new shares. The company is a subsidiary of PLS International Services, which provides visa and diplomatic services.

Popular Vehicles and Services: The company is about to issue Rs 250 crore worth of new shares and 1.42 crore shareholders’ equity.

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