iNICU (Integrated Neonatal Intensive Care Unit) Medical Pvt. Ltd, a real-time, infant-care analytics startup, has given full exit to to Centre for Innovation, Incubation and Entrepreneurship (CIIE) – the technology business incubator of IIM Ahmedabad and a seed investor in the startup.
AR/VR-based tech startup HoloSuit has raised an undisclosed amount of funding from Yuvraj Singh’s YWC sports. The startup has also on-boarded Singh as its Brand Ambassador. Touted as a game-changing technology that enables a whole new generation of mixed reality applications, Holosuit is a full-immersion sensor and feedback packed tracksuit which allows one to point, touch and feel 3D objects creating a 4D immersive experience.
Non-banking finance companies (NBFCs) and home financiers are approaching private equity (PE) funds and overseas debt markets to raise long-term capital because of a liquidity crunch and rising cost of capital in India. Industry watchers say the current situation is opportune for PE funds looking to invest in NBFCs since valuation expectations for the sector as a whole have moderated considerably after the IL&FS crisis. ECBs as a source of funding have become extremely significant right now, considering NBFC-HFCs need to reduce their short-term liabilities. Market has been concerned about asset-liability mismatches (ALM) and ECBs take care of the ALM issues. In a rising interest rate scenario, if the ECB fund-raise is fully hedged then the firm is locked in at that rate for five years, hence hedged against rising rates.
Tata Teleservices has offered to sell half of its stake and IDFC its entire stake in mobile tower company ATC TIPL to majority shareholder American Tower Corporation (ATC) for Rs.2,940 cr. Tata Teleservices Ltd (TTL) has also offered to pay $320 million, or around Rs.2,360 cr., to ATC Telecom Infrastructure Pvt. Ltd (ATC TIPL) for termination of lease obligations following closure of its mobile services business and its affiliates. TTL will have option to sell another 50% stake in ATC TIPL in the beginning of the next fiscal.
The National Investment and Infrastructure Fund (NIIF) of India has acquired IDFC Infrastructure Finance Ltd (IDFC-IFL), a non-banking financial company that has been registered with the Reserve Bank of India (RBI) as an infrastructure debt fund. IDFC-IFL lends to operating infrastructure projects, allowing the original project financiers to recycle their capital after the commencement of operations.
Subscribe to Breakfast Deals – our daily newsletter
* = required field