Established in 1978, the Farveshi runs three educational institutions in Nasik, including an international school that follows Cambridge curriculam. The school is spread over 39.2 acres of land in Nasik. R. S. Luth Education Trust runs the schools currently.
The ownership will come down to around 29 per cent after the issue of fresh shares.
One of the largest solar power developers in India, Acme Solar has a portfolio of 5.5 GW with an operational capacity of 2.9 GW and 2.6 GW of projects under different stages of development.
The qualified institutional placement (QIP) could begin early this week.
M&M had 51% in the JV and Sanyo 29%, while the remaining 20% was held by Mitsui. However, in 2018, Sanyo bought around 22% in Mahindra Sanyo, increasing its holding to 51%. Consequently, MSSSPL ceased to be a subsidiary of M&M.
Short-term loans may be priced at Libor plus 200-250 bps, could be of 3-12 month maturities
RIL is in talks with 10-15 foreign lenders to raise funds for its non-digital units.
Carlyle is expected to first buy around 50% stake from the promoters and their families at Rs 85-90 a share, or a 7-10% premium to the current market price, and then launch an open offer to the minority investors.
Four global funds have submitted non-binding bids of ₹4,800-5,000 crore valuation. Final bids are likely to be in by June-end. The company had hired investment bank Avendus to find a buyer for the promoter’s stake.
The finance ministry has begun negotiations with bankers on a likely tax-free bond issue. The money may be raised in multiple instalments.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon