Capital Infusion

SpiceJet receives approval from BSE for Rs 2,242 cr capital infusion

No-frills carrier SpiceJet on Monday said it has received in-principle approval from the BSE for a Rs 2,242 crore capital infusion in the airline. The Gurugram-based airline also said that a significant portion of the fund infusion will be utilised to fuel the airline's growth, among others. SpiceJet has received in-principle approval from the BSE for the issuance of equity shares and warrants convertible into equity shares on a preferential basis, the airline said in a statement. This approval paves the way for a new fund infusion of Rs 2,242 crore in the airline, it said. A significant portion of the fund infusion will be utilised to fuel the airline's growth, expand its network and bring grounded planes back into operations, SpiceJet said. "We believe the fund infusion will open new avenues for SpiceJet, enabling us to capitalise on potential opportunities and contribute to the growth of the aviation sector in India," said Ajay Singh, Chairman and Managing Director of SpiceJet.

Pepperfry elevates Ashish Shah as CEO after demise of Ambareesh Murty

The company has also secured $23 million to strengthen its ability to cater to the evolving needs of its over 10 million and increasing customer base

Reliance General Insurance seeks a capital infusion of Rs 600 crore

Reliance Capital is undergoing bankruptcy proceedings since November 2021 after defaulting on loans worth Rs 24,000 crore

IDFC twins gain more than 5% on Rs 2,000-crore capital infusion

At a meeting held on Wednesday, IDFC's board gave an in-principle approval to infuse Rs 2,000 crore "growth capital" into IDFC First Bank

Budget 2023: Credit Guarantee Scheme for MSMEs gets Rs 9,000-cr boost

This is expected to reduce the cost of credit by 1 per cent for MSMEs, said Union Finance Minister Nirmala Sitharaman

Vistara cash flow sufficient, won't need fund infusion for 6 months: CEO

Tata-Singapore Airlines joint venture made its first net profit in December-end quarter

Credit Saison India receives Rs 540-crore capital infusion from parent firm

Digital non-banking finance company Credit Saison India has received Rs 540 crore in fresh capital from its Japanese parent Credit Saison Company, taking the total equity infusion to Rs 1,600 crore. The Bengaluru-based digital lender said the latest capital infusion came from Saison International, the global business division of the parent, in two tranches. Credit Saison India has disbursed over a million loans since inception in 2019 to consumers, SMEs, fintechs and other NBFCs, and has an asset under management (AUM) of Rs 5,000 crore. It targets to take the AUM to over Rs 8,000 crore over the next next 12 months. When it comes to funding, the NBFC is backed by State Bank of India, Axis Bank, Bank of Baroda, Punjab National Bank, Canara Bank, Mizuho, Sumitomo Mitsui Banking Corporation and MUFG Bank among others, said Presha Paragash, chief executive of the company. "We want to enable growth of accessible credit in India and we believe the USD 1 billion AUM target is only a stepp

Capital infusion in Vodafone Idea under discussion: Ashwini Vaishnaw

Debt-ridden telecom firm Vodafone Idea has various requirements, including infusion of capital, and discussions on this front are going on, telecom minister Ashwini Vaishnaw said on Thursday. Vodafone Idea (VIL), reeling under debt burden of over Rs 2 lakh crore, has opted for converting about Rs 16,000 crore of interest liability payable to the government into equity, which will amount to around a 33 per cent stake in the company while promoters' holding will come down to 50 per cent from 74.99 per cent. 'Vodafone (Idea) has many requirements. It has a particular requirement of capital. How much capital, who will infuse? All those things are under discussion at this point of time," Vaishnaw said. VIL has offered a stake to the government at a par value of Rs 10 per share and the government is waiting for the company's shares to stabilise at Rs 10 apiece. "The responsibility of capital has to come from various sources. The company just doesn't require conversion. It requires capita

Banks' net NPA ratio at 10-yr low, GNPAs continue downward journey: RBI

Stress test show banks capable of absorbing shocks without capital infusion

India considers capital infusion, merger of loss-making lender IFCI

IFCI has reported annual losses for at least four straight years to March 31, 2022 and has lost more than 17% of market capitalization in the past year

Centre unlikely to infuse any capital into the PSBs in FY23: Report

Between FY16 and FY21, the government infused Rs 3.3 trillion into PSBs helping the banks in improving their balance sheets and the capital-to-risk-weighted assets ratio (CRAR)

Jet Airways revival: Jalan-Kalrock accept bank call to infuse more capital

The consortium had 270 days to fulfil all criteria required for the plan's implementation

BigBasket to raise $200 million at a valuation of $3.5 billion: Report

The infusion of fresh capital comes at a time when the company is aiming to expand its core offerings to compete with competitors like Dunzo, Zepto, Swiggy Instamart and others

Centre's fund infusion into RRBs to hinge on viability plan execution

Financially-strong RRBs have been sent reminders to explore listing of their shares on the exchanges to raise capital

YES Bank hits highest level since January 2021; stock soars 20% in 3 days

On July 29, 2022, the bank announced to raise equity capital of around 1.1 billion (Rs 8,900 crore) from funds affiliated with two global private equity investors - Carlyle and Advent International.

No capital support from govt needed this year: Punjab & Sind Bank MD

Punjab & Sind Bank would not require further capital infusion from the government to meet growth needs during the current fiscal year, the top official of the bank said. During the previous two years, the government infused Rs 5,500 crore and Rs 4,600 crore through non-interest bearing recap bonds. With the infusion of Rs 4,600 crore, the government holding in the bank increased to 98.25 per cent as on March 31, 2022. Capital adequacy ratio of the bank improved to 18.54 per cent in March 2022 from 17.06 per cent as at March-end 2021 with the help of capital support from the government, bank's MD and CEO S Krishnan said. The bank is sufficiently capitalised to meet expected credit growth in this financial year and may not need support from the government, he said. As far as loan growth is concerned, he said, it is expected to grow at 8-10 per cent in FY23. He further said the bank has strengthened its balance sheet by making additional provisions and it has proactively made 100 per

Business segment recovery to drive growth for Indian Hotels Company

While growth metrics should improve as the leisure segment and business travel picks up, the company's March quarter performance was weaker than expected

BS Number Wise: India's labour, capital paradox

Productivity in agriculture and eight other sectors is increasing but employment is falling and there is no significant capital investment

Info Edge's Sanjeev Bikhchandani on his investment plans and more

In a chat with Business Standard's Surajeet Das Gupta, Sanjeev Bikhchandani says he expect better outcomes from startups in the future driven by smart founders, new tech and more capital deployment

PSBs may get capital support in Q4 to meet regulatory requirements

The capital position of banks will be reviewed in the next quarter for infusion requirement