Sunday, September 27
India's Dorf-Ketal Chemicals is in talks with private credit lenders to raise around $500 million to fund the acquisition of a European peer owned by private equity, two sources told Reuters. The Mumbai-based speciality chemicals firm is putting together a broader financing package for the acquisition, with the private credit tranche expected to be a component, a source said. Both sources requested anonymity since the discussions are private. Term sheets with lenders are expected to be signed this month or next, while talks on the pricing of the bond issue are ongoing, one of the sources said. The name of the target company and the private credit funds involved could not be immediately determined. Dorf-Ketal did not immediately respond to a Reuters request for comment. The company, wh
Shares of Inox Wind rose nearly 4% to Rs 179.20 on Wednesday after brokerage firm Motilal Oswal initiated coverage on the stock with a ‘Buy’ rating and a target price of Rs 210, indicating a potential upside of 21% from the previous close of Rs 172.90.Motilal Oswal stated in its report, “We initiate coverage on Inox Wind Limited (IWL) with a BUY rating and a target price of Rs 210 per share. IWL is a leading vertically integrated player in India’s wind energy sector, offering end-to-end solutions from project conception and commissioning to operations and maintenance (O&M).”The brokerage highlighted that Inox Wind has an annual manufacturing capacity of 2.5 GW across four facilities and produces both 2 MW and 3 MW wind turbine generators. As of the end of FY25, the company ho
Shares of RBL Bank rose 2.7% to Rs 266.95 on Wednesday after reports said Dubai government-owned Emirates NBD Bank is in talks to acquire up to a 20% stake in the private lender through a significant capital infusion.The stock, which has rallied more than 21% in the past month and over 64% in the past six, rose for an eighth time in nine sessions. It closed Tuesday at Rs 259.95, up 4.6%, with a market value of Rs 15,831.21 crore.The Emirates NBD Bank PJSC is in advanced discussions to acquire a minority stake in RBL Bank through a preferential allotment. This would mark a primary capital infusion into RBL and help the Dubai-government-owned lender deepen its Asia strategy.The deal, still under negotiation, could be similar in structure to the recent SMBC-Yes Bank investment. Emirates NBD m
MUMBAI: The National Company Law Tribunal (NCLT) has approved Adani Properties' acquisition of two assets of defunct real estate developer Housing Development and Infrastructure (HDIL) through the corporate insolvency resolution process (CIRP).The assets include a commercial property known as 'Inspire BKC' in Mumbai's business district Bandra-Kurla Complex and a land parcel in Kalyan Shahad on the outskirts of Mumbai.Adani Properties was found to be the only bidder to make Insolvency and Bankruptcy Code (IBC)-compliant proposal for both the properties.For the Inspire BKC commercial project, its resolution plan is valued at Rs 3 crore. This includes Rs 2.85 crore allocated to creditors and Rs 15 lakh for CIRP costs. In the case of Shahad land parcel, the fair value and liquidation value wer
