Sovereign wealth fund GIC announced a joint venture with the Hong Kong-headquartered ESR Cayman to form a $750 mn joint venture which will develop and acquire industrial and logistics assets in India.
The insurers have settled 508,334 claims amounting to over Rs 4,800 crore
General Insurance Corporation of India (GIC Re) said it has exposure totalling Rs 1,453.74 crore in IL&FS group, DHFL, Reliance Capital and Reliance Home Finance as of March 2020 and it has made provisions over and above the regulatory norms. The company's exposure stood at Rs 788.80 crore as of March 31, 2020 by way of investments in debentures of IL&FS group, GIC Re said in its annual report for 2019-20. GIC Re has made total 100 per cent provision on both secured and unsecured portion of these investments, it said. Exposure in bonds of Dewan Housing Finance Ltd (DHFL) was to the tune of Rs 204.80 crore, for which the provisions are 100 per cent on both secured and unsecured portion, the state-owned firm said. In Reliance Capital and Reliance Home Finance, GIC Re had exposure of Rs 365.26 crore and Rs 94.90 crore, respectively, by the end of March 2020. GIC Re said it has made provisions to the tune of 15 per cent on secured portion of investments in Reliance Capital and ...
Shishir Shrivastava, MD of Phoenix Mills, talks about about the rationale behind the new venture with Singapore-based GIC.
Standard Chartered GBS is leasing 770,000 sq ft to set-up its largest office establishment in this project
Govt move will boost job creation, give a leg-up to social infrastructure in and around Gift City
GIC will invest Rs 5,512 crore for a 1.22% stake, while TPG Capital will invest Rs 1,838 crore to own a 0.41% equity stake in the retail arm
GIC's investment will translate into a 1.22% equity stake in Reliance Retail on a fully diluted basis.
ESR partnered Allianz Real Estate for a $225-million joint venture that aimed to become a $-billion asset platform
Wants govt to prescribe treatment protocol and then fix the rates
Bandhan Bank's shares plunged 10.5 per cent on Monday after the transaction, its biggest loss since March 30. They were up as much as 2 per cent on Tuesday
While insurance firms ignore MTM gains, they are required to recognise MTM losses as expenses
The remaining about Rs 650 crore, the company said will be invested in the progress of construction of the under-construction projects
While Brigade plans to ramp up the number of operating keys in its hospitality business from 1,350 to 2,000 in 24-30 months, it is also looking to add keys beyond 2,000 in the longer run
Many are reluctant to invest financial and human capital in a scenario in which GIC Re enjoys the advantage of right of first refusal in reinsurance contracts
With 70 million sq ft, Blackstone and its partners are the largest owners of office properties in the country