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Adani Airport Holdings increases borrowing limit by Rs 2,500 crore

The Adani Group has increased the borrowing limit of its airport arm — Adani Airport Holdings (AAHL) — from Rs 14,000 crore to Rs 16,500 crore to fund the expansion of its eight airports across the country

AAHL currently manages seven functional airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. It is also building Navi Mumbai airport, which is expected to start operations by 2024- end.

AAHL's total borrowings stood at Rs 8,319.89 crore as on March 31 this year, according to its annual financial statement.

NTPC Green Energy likely to get strategic investor by March next year

State-owned power giant NTPC is likely to get a strategic investor for its arm NTPC Green Energy Ltd by March 2023, which will help raise up to Rs 3,000 crore for implementing renewables projects in the country.

"NTPC is in the process of roping in a strategic investor for its subsidiary NTPC Green Energy Ltd. The company wants to raise Rs 2,000 crore to Rs 3,000 crore through this transaction, which is likely to be completed during this fiscal year or by March 2023," a source said.

Indian Oil plans to upgrade supply locations, aviation fuel station in Goa

Indian Oil Corporation plans to invest Rs 6 crore on the upgradation of supply locations and aviation fuel station in the coastal state, a senior company official said.

Anirban Ghosh, Executive Director and State Head of Maharashtra and Goa State Office, told reporters that the Indian Oil Company had the highest market share of 38.1 per cent and sold 256.4 TMT of petrol, oil and lubricant products in Goa in 2021-22.

Softbank halves stake in Policy Bazaar parent, mops up Rs 1,043 crore

SoftBank Vision Fund (SVF) on Friday halved its stake in PB Fintech, the company that operates online insurance aggregator Policy Bazaar. The global tech investor sold 22.84 million (5.08 per cent stake) at Rs 456.4 apiece to mop up Rs 1,042.5 crore.

Over 30 institutional investors were among the buyers, with Morgan Stanley, Nippon India Mutual Fund and Societe Generale picking up shares worth more than Rs 100 crore each.

Canara Bank wins 'Banker's Bank of the Year Award 2022' for India

Canara Bank on Friday announced in a statement that it has won the "Banker's Bank of the Year Award 2022" for the Indian segment of the Global Banking Summit.

Ola Electric to manufacture Li-ion cells for steady raw material supply

Ola Electric — in conjunction with stakeholders — is putting together a plan to ensure a stable supply of raw materials, which go into the making of a lithium battery cell.

The company is the only two-wheeler electric vehicle (EV) player, which has decided to manufacture the cell and control its technology — that are crucial components for making the battery.

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