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India Inc raises over Rs 9-trn through equity, debt issuances in 2021

Indian companies have mopped up more than Rs 9 trillion through equity and debt routes in 2021 to meet their renewed thirst for business expansion in a buoyant stock market brimming with liquidity and helped by recovering macroeconomic indicators after pandemic-ravaged first few months. Unless the still-evolving Omicron situation plays spoilsport, the next year is expected to be much more robust in terms of fund-raising activities and there seems to be no dearth of funds, experts said.

Airtel Payments Bank surpasses 1 billion transactions mark in Q2

Airtel Payments Bank crossed one billion transactions volume milestone on its platform during September quarter 2021-22. This represents about 61 per cent year-on-year growth in transaction volume per quarter, underlining the bank's digital-first model and distribution of over 5,00,000 banking points that give it the ability to scale up rapidly.

WeWork India 2021 revenue up 33%; plans to add over 20K desks next year

Coworking major WeWork India's revenue rose by 33 per cent to over Rs 800 crore this year and is expected to grow further in 2022 on improved demand for its flexible workspaces, a company official said. In an interview with PTI, WeWork India Chief Executive Officer (CEO) Karan Virwani outlined his vision to make the company a "one-stop shop" to meet all requirements related to workspace

Rakesh Jhunjhunwala, R K Damani approach RBI to acquire 10% in RBL Bank

Ace investors Rakesh Jhunjhunwala and D-Mart’s founder RK Damani have approached the Reserve Bank of India (RBI) to buy a 10 per cent stake in RBL Bank, according to a report by CNBC TV 18. According to the report, RBI is looking at the request. The move by ace investors comes a day after the appointment of RBI chief general manager Yogesh Dayal as additional director on RBL’s board, and its managing director Vishwavir Ahuja proceeded on leave. Neither Jhunjhunwala nor Damani have made any statement regarding their request to RBI. On Friday, RBL Bank’s stock ended the session at Rs 172.50, a 3.06 per cent decline. The lender at present has a market capitalisation of Rs 10,340 crore.

Rs 6,000-cr Bank of Baroda scam: CBI files 2 supplementary chargesheets

The CBI has filed two supplementary chargesheets in connection with alleged illegal remittance of Rs 6,000 crore from a Bank of Baroda branch in Delhi to Hong Kong, camouflaged as payment for imports. In the chargesheets filed before a special CBI court, the central agency has alleged that a group of people opened accounts and deposited funds in them through various other accounts.

IL&FS InvIT gets first road asset, acquires Moradabad-Bareilly Expressway

IL&FS Infrastructure Investment Trust ( IL&FS InvIT) has commenced business with acquisition of first road asset -- Moradabad-Bareilly Expressway Ltd. The final consideration for sale of shares is Rs 576.77 crore and adjusted final consideration for assignment of receivables is Rs 14.26 crore. This transaction is based on final valuation and adjustments as stated in the Share Purchase Agreement (SPA).

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