L&T Finance acquires 26% stake in Grameen Capital
.jpg)
Grameen Capital India today announced that L&T Finance has acquired 26% stake in the company for an undisclosed amount.
Grameen Foundation, Citicorp Finance, Amit and Arihant Patni are the other shareholders in the company.
Y M Deosthalee, Chairman & Managing Director of L&T Finance Holdings said, "Social enterprises need to build sustainable scale with the help of patient capital. We are delighted to partner with Grameen Capital and come up with innovative solutions for the capital needs of these enterprises." Royston Braganza, the Chief Executive Officer, said, "We will use this investment for catalyzing lending to social enterprises." Grameen Capital India provides capital market access to impact-focused enterprises serving the base-of-the-pyramid segment through innovative debt and equity solutions, credit enhancement and strategic advisory services. Grameen Capital also actively advises double bottom-line funds on their impact investment programs in India.
It has facilitated more than $160 million of both equity and debt capital for social enterprises.
Other Latest News
.webp)
AstraZeneca's Covid-19 prevention therapy reduced the risk of infection in patients with weaker immunity in a late-stage trial, meeting its primary goal, the drugmaker said on Thursday.
The long-acting antibody therapy called sipavibart showed a "statistically significant reduction" in symptomatic Covid-19 cases among immunocompromised patients, the company said.
.webp)
Holding a roadshow in the Odisha capital in support of party candidates, BJP president J P Nadda on Thursday asserted that people of the state have "decided to give rest" to Chief Minister Naveen Patnaik by electing the saffron party to power.
Nadda, who was standing in a saffron-coloured open-hood vehicle flanked by Bhubaneswar's BJP MP and candidate Aparajita Sarangi and Ekamra-Bhubaneswar assembly seat's party nominee Babu Singh, was seen waving at crowds on both sides of the road during the roadshow from Mausina Chhak to Lingaraj temple.
.webp)
IT company Tech Mahindra on Thursday said it has collaborated with IBM to assist businesses worldwide in responsibly accelerating the adoption of generative AI (GenAI).
Under the partnership, TechM amplifAI and IBM watsonx will integrate to bring new GenAI and governance capabilities to enterprises, according to a company statement.
.webp)
Congress veteran Bhupinder Singh Hooda on Thursday said people are looking at his party with great hope and it is set for a clean sweep in Haryana in the Lok Sabha elections.
The former chief minister said the Congress is receiving overwhelming public support.
.webp)
The State Bank of India (SBI) has hiked interest rate on retail term deposits by 25-75 basis points for deposits up to 1 year, giving further push to competition for raising resources.
The revised rates for deposits came into effect from May 15, 2024.
.webp)
.webp)
.webp)
.webp)
.webp)
