The loan sale was concluded even as the wind energy company was in the midst of its second bank-led restructuring initiated in 2020. The REC and IREDA-led refinance would extend the tenure of Suzlon's loans and would also bear a lower interest rate than what it was paying banks, multiple people familiar with the contours of the deal said.
“We are looking to scale up. We are raising funds for more such acquisitions,” Rahul Agarwal, founder-cum chief executive of Ideal Insurance Brokers, told ET. The insurance management firm is looking to raise $10 million (about Rs 70-80 crore) this year.
RBI, in its first rate move in two years and the first hike in nearly four years, raised the repo rate by 40 basis points to 4.40 per cent following an off-cycle meeting last month.
"The Leadership in Energy and Environmental Design (LEED) certified incremental spaces, spread across 4.20 lakh sq ft at the existing locations at DLF Cybercity Chennai and EON IT Park, Pune would augment the capacity to serve global client of Citi," a company statement said."The Leadership in Energy and Environmental Design (LEED) certified incremental spaces, spread across 4.20 lakh sq ft at the existing locations at DLF Cybercity Chennai and EON IT Park, Pune would augment the capacity to serve global client of Citi," a company statement said.
The momentum is expected to continue, he said, adding opening up of the economy has reduced the need for a fresh stimulus package and the current momentum appears sustainable. Thus, for the bank, it is imperative that the business keeps adapting to the new operating environment, he said in his letter to shareholders published in the annual report for FY22.