Canadas CDPQ to acquire 20% stake in Edelweiss ARC
The Dollar Business Bureau Caisse de Dépôt et Placement du Québec (CDPQ) on Monday said it plans to invest Rs.5,000 crores over the four years to acquire 20% stake in Edelweiss Asset Reconstruction Company (EARC). The announced sum will provide Edelweiss Group with capital to invest in stressed assets and private debt opportunities in India. This will make it the single largest investment by an institutional investor in this sector. CDPQ targets annual investments of Rs.1250 crores in stressed assets and specialised corporate credit, totaling Rs.5000 crores over a four-year period. Their joint collaboration aims to channel between Rs.12,000-14,000 crores into private debt and restructuring of stressed assets in the country. “Edelweiss is not your typical financial institution. It has a strong entrepreneurial culture and ...
Government okays 16 FDI proposals worth Rs.1,153 crore
The Dollar Business Bureau Following the recommendation of the Foreign Investment Promotion Board (FIPB) earlier this month, the government has approved 16 Foreign Direct Investment (FDI) proposals worth Rs.1,153 crore. The approved projects included applications filed by Edelweiss Tokio Life Insurance Company Ltd, Encore Asset Reconstruction Company Ltd, Akumentis Healthcare Ltd, and Elanco India Pvt Ltd. “The government has approved 16 proposals of Foreign Direct Investment amounting to Rs.1152.53 crores approximately. In addition, one proposal, viz., Cadila Healthcare Limited amounting to Rs.5000 crores, has also been recommended for consideration of Cabinet Committee on Economic Affairs (CCEA),” a Finance Ministry statement said. Cadila’s proposal has been sent for Cabinet’s consideration as the proposed investment is more than Rs.3000 crore, the limit for ...
