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Happiest Minds board approves raising of Rs 1,400 cr through equity debt

IT company Happiest Minds Technologies board on Wednesday approved raising of up to Rs 1,400 crore through equity or debt bonds, the company said in a regulatory filing. "We wish to inform you that the board at its meeting held today i.e. October 5, 2022 has inter alia considered and approved the matter related to raising funds," the filing said.

TVS Emerald to come up with five new projects in Chennai, Bengaluru

TVS Emerald, the real estate arm of the TVS Group, said on Wednesday that it is looking at a near three-fold rise in its total area under development over the next five years. The firm is set to come up with five projects with a combined revenue potential of Rs 1,000 crore, in Chennai and Bengaluru within the next four quarters.

“We are expecting the area under development to rise to 25 million square feet in the next 4-5 years, from 7 million sq feet currently. We are looking at a model where we will need less construction finance. Hence, we are trying to sell as much as possible,” said Sriram Iyer, president and chief executive officer, TVS Emerald. The company entered the Bengaluru market through its new project Jardin on October 3. It saw a positive response, with 70 per cent of the inventory sold on the first day itself, amounting to about Rs 300 crore.

India Inc's foreign commercial borrowings rise by 4.6% in Aug: RBI data India

Inc's foreign commercial borrowings in August this year rose by nearly 4.6 per cent to USD 2.98 billion, according to the RBI data. In August 2021, the Indian businesses borrowed USD 2.85 billion in the form of external commercial borrowings.

DLF sells all 292 luxury homes in new project at Gurugram for Rs 1,800 cr

Realty major DLF has sold all 292 luxury homes in Gurugram for over Rs 1,800 crore within few days of the launch of the project, signalling strong demand despite rise in interest rate on home loans and property prices. On September 26, DLF had launched its project 'The Grove' located at DLF phase-5 in Gurugram, Haryana.

Adani Enterprises announces establishment of two new subsidiaries

In a note shared with the stock exchanges, Adani Enterprises, the flagship company of the Adani Group, announced the creation of Adani Disruptive Ventures (ADVL), which will be a wholly-owned subsidiary, and Alwar Alluvial Resources (AARL). ADVL will start conducting business soon. ADVL's website indicates that its goal is to collaborate with businesses and entrepreneurs that are looking to create solutions through disruptive technology, and help them scale up their ventures

Apollo Hospitals acquires 60% stake in Ayurveda hospital chain AyurVAID

Apollo Hospitals Enterprise Ltd on Wednesday said it has acquired a 60 per cent stake in leading classical Ayurveda hospital chain AyurVAID for a consideration of Rs 26.4 crore. The investment will be used to upgrade existing centres, set up new centres, strengthen enterprise platforms, and for digital health initiatives, the healthcare major said in a regulatory filing.

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