Top headlines: KKR to invest in Reliance Retail, gains for rail, infra cos

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Reliance Retail

BS Web Team New Delhi

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KKR set to invest over Rs 2k cr in Reliance Retail to raise stake to 1.42%

Private equity firm KKR is set to invest an additional Rs 2,069.5 crore in Reliance Retail Ventures (RRVL) through an affiliate, securing a 0.25 per cent stake on a fully diluted basis. This investment places RRVL’s pre-money equity value at Rs 8.36 trillion, positioning it among the top four companies in the country by equity value, said the company in its release. Read more

India UK explore possibility of shares listing at GIFT City and LSE

The United Kingdom has received the first confirmation from India that it would explore the London Stock Exchange (LSE) for overseas direct listing of Indian companies, British Chancellor of the Exchequer Jeremy Hunt said on Monday. “We are particularly pleased to have made a big step forward with the first confirmation by India that it will explore the London Stock Exchange as an international destination for the direct listing of Indian companies,” Hunt said while addressing media persons in a joint briefing with his Indian counterpart Nirmala Sitharaman after the 12th India-UK Economic and Financial Dialogue. Read more

Saudi Crown Prince's visit may open funding doors for Indian companies

The state visit to India of Saudi crown prince and prime minister Mohammed bin Salman could accelerate funding to Indian companies by the country’s sovereign wealth fund, the Public Investment Fund or PIF. The fund is the seven largest sovereign wealth fund in the world and is the kingdom’s key investment vehicle. Read more

New corridor may drive big gains for rail, infrastructure companies

The India-Middle East-Europe Economic Corridor (IMEC) -- a landmark announcement made on the sidelines of the just-concluded G20 summit in New Delhi -- is expected to provide a boost to key railway and port infrastructure companies like Ircon International, Rail Vikas Nigam Ltd (RVNL), Larsen & Toubro (L&T), Tata Projects, and GMR, experts said. Ports on the western coast of India, such as state-owned Jawaharlal Nehru Port Trust (Navi Mumbai) and Deendayal Port Authority (Kandla), the Adani group-owned Mundra Port, and APM Terminals-owned Pipavav Port, also have the potential to benefit immensely from this corridor, they said. Read more

Tata Consumer 'narrows its universe'; identifies 5 core areas for launches

Packaged goods company Tata Consumer Products (TCPL) has “narrowed its universe” by identifying five key categories for its upcoming product launches. These categories represent its current core offerings, including tea, coffee, and salt. Within the pantry segment, the company will explore opportunities in pulses, spices, staples, dry fruits, and ready-to-cook. Read more

First Published: Sep 12 2023 | 08:53 AM IST

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