Reliance Industries To Buy Stake In Kingfisher Airlines
by Charmi Gutka
Reliance Industries is planning to acquire stake in debt-ridden Kingfisher Airlines Limited.
If the deal goes through Reliance would also get Mangalore Chemicals and Fertilizers Ltd, in which the UB group has a 30.44%.
Mangalore Chemicals is a fertilizer manufacturing company. It manufactures wide range of products that includes Urea, Di-Ammonium Phosphate, Muriate of Potash, Granulated Fertilizers, Micronutrients, Soil Conditioners and Specialty Fertilizers.
Impact investment fund Lok Capital along with CDC Group plc, have made an investment of $21 Mn in Varanasi based micro finance company Utkarsh. This round also witnessed participation from its existing investors Aavishkaar Goodwell, Microfinance Development Fund, IFC and Norwegian Microfinance.