India Digest: IL&FS sells subsidiary to Orix; Autodesk picks Aurigo stake

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Infrastructure Leasing and Financial Services (IL&FS) Thursday said it has sold its 100 per cent stake in IL&FS Wind Power Services Ltd to Japan’s Orix while US-based software services company Autodesk Inc is acquiring a minority stake in Aurigo Software Technologies.

IL&FS sells subsidiary to Orix

Infrastructure Leasing and Financial Services (IL&FS) Thursday said it has sold its 100 per cent stake in IL&FS Wind Power Services Ltd (IWPSL) to Japan’s Orix Corporation for Rs 6.05 crore.

IWPSL, a wholly-owned subsidiary of IL&FS Energy Development Company Ltd, is engaged in providing supervisory and management support services to seven firms that own and operate wind power generating assets.

The group had divested its 51 per cent equity stake held in the seven units to ORIX in October last year. The seven companies are Lalpur Wind Energy Private, Etesian Urja, Khandke Wind Energy, Ratedi Wind Power, Wind Urja India, Tadas Wind Energy and Kaze Energy.

Autodesk picks Aurigo stake

US-based software services company Autodesk Inc is acquiring a minority stake in Aurigo Software Technologies Inc., a US- and Bengaluru-based firm that develops software for infrastructure providers and owners.

“The present climate of uncertainty and risk further increases the need for owners and contractors to leverage modern cloud software to plan, construct and maintain infrastructure assets that are considered absolutely essential to the nation,” said Balaji Sreenivasan, CEO and founder of Aurigo Software. “Autodesk and Aurigo have very synergistic products, and our strategic alliance will allow us to deliver a full digital lifecycle experience for owners and contractors.”

Aurigo claims that its flagship product, Aurigo Masterworks, is used by owners across North America to plan and deliver over $300 billion in capital programs.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.