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Reliance Home Fin in talks with ADIA to raise funds; Rivigo seeks fresh capital
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Reliance Home Finance Ltd is looking to raise around Rs 1,500-2,000 crore through a preferential issue of shares, a media report said.

CNBC-TV18  reported, citing people aware of the development, the company is in talks with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) to participate in the issue.

Separately, Reliance Home said in a stock exchange disclosure that it has entered into exclusive discussions with an overseas institutional investor for a potential equity investment in the company. It didn’t disclose the identity of the investor.

As on 31 March, Reliance Home Finance had assets under management of more than Rs 16,000 crore.

In another development, Gurugram-based tech-enabled logistics company Rivigo Services Pvt. Ltd is in early discussions with new and existing investors to raise funds, Mint reported.

Citing people aware of the development, the report said Rivigo could raise around $350-400 million.

In January, VCCircle had reported that Rivigo raised Rs 322.5 crore ($50 million) in a Series D round from SAIF Partners and Warburg Pincus. The deal valued Rivigo at close to $945 million.

Founded in 2014 by Deepak Garg and Gazal Kalra, Rivigo offers pan-India delivery services to e-commerce, pharmaceuticals, automobiles, cold-chain and consumer goods companies.

Meanwhile, Norwegian power producer Statkraft has acquired NSL Tidong Power Generation Pvt. Ltd, which owns an under-construction 100 megawatt hydropower project in Himachal Pradesh.

The project is about 60% complete and construction work will resume after closing the transaction, Statkraft said in a statement. The remaining construction is likely to be completed in next two years. Statkraft didn’t disclose financial details of the deal.

Statkraft entered the Indian power sector in 2004. It has a 49% stake in the 108 MW Malana hydropower project and the 192 MW Allain Duhangan project in Himachal Pradesh.

In another development, Geneva-based Cotecna Inspection SA has acquired analytical testing firm Shiva Analyticals (India) Pvt Ltd. The deal value hasn’t been disclosed.

Cotecna provides testing, inspection and certification services. It has 3,000 employees in about 50 countries.

Founded in 1997, Shiva Analyticals provides testing services across sectors including food and beverages, energy and pharmaceuticals, according to its website. Its net sales stood at Rs 18.77 crore for the year through March 2017, up from Rs 16.33 the previous year, according to VCCEdge, the data research platform of VCCircle.

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