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.
The clinical-stage specialty bio-pharmaceutical company Vyome Biosciences Private Limited has raises $14 million in Series-C financing round. The financing round was led by a prominent New York based life sciences fund Perceptive Advisors. Apart from that the funding round saw participation of a Boston-based venture capital Romulus Capital along with existing investors.