IFC may invest $400 Mn in Power Grid Corporation of India Limited, a national power transmission company of India responsible for planning, coordination and undertaking high voltage inter-state transmission in the country.
Power Grid has undertake project to enhance electricity transmission infrastructure in India.
The total project cost is estimated to be $2.3-3.5 bn over the next 12 months proposed to be 70% financed with debt and remaining from internal accruals.
IFC will invest $400 Mn which constitutes 15% of project cost, while balance debt will be raised including from multilaterals namely World Bank and ADB, and through issuance of domestic bonds.
Bengaluru based Cartisan, a platform for car owners catering to all vehicle related service requirements, has raised an undisclosed amount of funding in an angel round led by Yuvraj Singh’s YouWeCan Ventures and Aprameya Radhakrishna, (Co-Founder, TaxiForSure).