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Reliance Jio said the term loan facility will finance the procurement of goods and services from Samsung Electronics and Ace Technologies.
The deal will allow IDFC Bank to grow its retail book, which it has been unable to do in the last two-and-a-half years.
AION holds 70% in the consortium while JSW Steel holds the rest.
The second edition of the Mint’s Annual Private Equity Conclave 2018 to be held on 28 March will attempt to unravel this and more.
Telecommunications, technology and financial service were the top sectors in terms of deal value.
John Chambers, executive chairman of Cisco Inc. and chairman of the recently-formed US-India Strategic Partnership Forum (USISPF), has picked up a 10% stake in speech recognition solutions company Uniphore Software Systems Pvt. Ltd in his personal capacity. Chennai-based Uniphore, which made it to the list of winners in the 2016… Read more »
In a stock exchange filing, both firms said they had entered into a period of exclusivity till 15 January.
The funds will be used towards working capital needs and for capacity expansion.
HDFC Life and Max Life had announced their merger plans in August last year.
The HK firm is owned by a Alibaba Group company. Alibaba is also an investor in Paytm.