Reliance Industries Limited secured $2.1 bn loan from Export-Import Bank of the United States, which includes $1.06 bn direct loan and to guarantee a $1.06 bn JPMorgan Chase loan to the company.
The funds will be used to finance goods and services procured from exporters and suppliers in the US as part of Reliance's expansion projects at Jamnagar, BSE filing stated.
The transaction is the single largest Exim Bank has ever authorized for Reliance, and it represents Reliance's first attempt at funding through the capital markets with an Ex-Im Bank guaranteed bond issuance.
Eredene Capital has signed an indicative term sheet to sell its stakes in Gopi Resorts Pvt Ltd and Matheran Realty Pvt Ltd. It is selling its stake for a single up-front payment of £7.2 Mn (R62.5 Cr) in both the firms, BL stated.
CustomFurnish, an online furniture store started by Madhukar Gangadi, founder of MedPlus Health, has raised R16 Cr in seed round of funding from a group of investors Satish Reddy (Chairman of Dr Reddy's Laboratories), Srini Raju (founder of city-based Peepul Capital LLC), and Srini Koppolu (former MD Microsoft India Development Centre).