Reliance
Reliance Power offers Rs 1,200 crore to settle debt of VIPL power project
Reliance Power has offered to pay Rs 1,200 crore in upfront cash to the lenders of VIPL which include Axis Bank, SBI, Bank of Baroda, PNB, Canara Bank, and Bank of Maharashtra. The outstanding loan of the company as on March 31, 2022, is around Rs 2,200 crore.
Credit Suisse asks Reliance Capital administrator not to proceed with resolution till adjudication of claim
Credit Suisse AG, Mumbai branch is onshore security trustee acting on behalf of the lenders being Credit Suisse AG, Singapore branch, Federal Bank and Far Eastern International Bank.In a letter through its advocates, Juris Corp, it said that Credit Suisse has filed a claim as the financial creditor of the corporate debtor. The claim of Rs 659 crore was rejected by the administrator which has been challenged in NCLT which is currently hearing the case.
While most global equity markets are rising 5-20% in 2023, India is flat
Notably, the index was extremely volatile and swung around 776 points before closing 705 points higher. Nifty50 has been underperforming the emerging markets and the world indices in CY23YTD amid varied global macro headwinds viz., inflation, interest rates, and currency, the report said. While most of the global equity markets are rising.
IIHL receives Rs 50,000 cr financial offers from overseas lenders for Reliance Capital acquisition
Some of the leading banks and financial institutions who have extended commitment letters to IIHL are JP Morgan, Standard Chartered Bank, Barclays, Apollo Global Management, Varde Partners, and Farallon Capital. IIHL plans to fund the Rs 10,000 crore Reliance Capital acquisition through a combination of debt and equity. The debt equity ratio is estimated to be 80:20.
Hinduja group offers to infuse Rs 300 crore in Reliance General Insurance
Reliance General Insurance, a unit of Reliance Capital, needs cash infusion to maintain solvency levels. IndusInd International Holdings Ltd (IIHL), which is owned by Hinduja, made the highest bid of Rs 9,650 crore for Reliance Capital in a second auction on Wednesday.
Hinduja Group company emerges as highest bidder for Reliance Capital
The bid by IndusInd International Holdings Ltd (IIHL) is higher than the Rs 8,640 crore offer made by Torrent Investments in the first round of the auction held in December last year. It is believed that the other two suitors -- Torrent Investments and Oaktree -- did not participate in the second round of auction, sources said.
Reliance Capital lenders to meet on Monday to resolve concerns of bidders
Torrent Investment and IndusInd International Holdings Ltd (IIHL) of Hinduja Group have expressed many reservations on the scheduled auction and its terms. Both the bidders reportedly have conveyed to the Committee of Creditors (CoC) that unless the issues raised by them are resolved, they are unlikely to participate in the auction.
Reliance's initiatives in digital connectivity driving greater efficiencies in the economy: Mukesh Ambani
Commenting on the results, Ambani said Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months. With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits.
RIL posts record annual consolidated revenues at Rs 9.76 lakh cr for FY 2022-23
Reliance's annual EBITDA crossed the benchmark of Rs 1.5 lakh crore for the first time, as the record high EBITDA stood at Rs 1.54 lakh crore ($18.8 billion), up 23.1 per cent Y-o-Y. Reliance also posted record annual consolidated profit after tax at Rs 74,088 crore ($9.0 billion), up 9.2 per cent Y-o-Y.
Reliance Industries to announce Q4 results on April 21
"Reliance Industries Limited has informed BSE that the meeting of the Board of Directors of the Company is scheduled on April 21, inter alia, to consider and approve the standalone and consolidated audited financial results of the Company for the quarter/year ended March 31, 2023," RIL said in a stock exchange filing.
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