Latest news with #CCDs
Time of India
10-07-2025
- Business
- Time of India
AIFs seek higher cap on inflows from banks, NBFCs
(You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Alternate investment funds (AIFs) have urged the banking regulator to ease the investment caps proposed for regulated entities (REs), arguing that the low thresholds suggested in draft proposals could significantly constrain capital inflows and disrupt long-tenure funds, industry sources told a representation via the Indian Venture and Alternate Capital Association (IVCA), the industry has urged the Reserve Bank of India (RBI) to allow REs to invest up to 25% in a single AIF scheme, up from the 10% individual and 15% aggregate caps proposed in a May 19 draft circular, sources close to the development said. The draft rules are part of the RBI's tightening oversight of bank and NBFC exposure to stressed companies through AIF structures. Under the draft, no single RE can invest more than 10% of an AIF scheme's corpus, and total exposure from all REs combined must remain within 15%, to prevent concentration risk and influence over investment decisions. The RBI has proposed expanding the exemption for downstream exposures by excluding not just equity shares but also compulsorily convertible preference shares (CCPS) and compulsorily convertible debentures (CCDs).While industry experts say that allowing up to 5% exposure in Category I and II AIFs without triggering provisioning norms or restrictions on portfolio composition will help capital flow into AIFs, they have raised concerns on the overall cap. They have suggested that the investment cap for a single RE be increased to 25% up from the proposed 10% which could allow these entities to participate in long-tenure or capital-intensive funds, particularly infrastructure or stressed asset funds.
Business Upturn
01-07-2025
- Business
- Business Upturn
Zen Technologies acquires 76% stake in TISA Aerospace, makes it a subsidiary
By Aditya Bhagchandani Published on July 1, 2025, 17:28 IST Zen Technologies Limited has announced the successful acquisition of a 76% equity stake in TISA Aerospace Private Limited, making TISA its subsidiary. The company disclosed the development in a stock exchange filing on July 1, 2025. As part of the transaction, Zen Technologies acquired 2,06,518 equity shares of TISA Aerospace and also purchased 4,00,000 6% Compulsory Convertible Debentures (CCDs) from an existing CCD holder. Following this, TISA's board approved the allotment of an additional 3,35,806 equity shares to Zen Technologies upon conversion of these CCDs. The company confirmed that the requisite regulatory disclosures under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, were already made in its earlier filing dated June 21, 2025. This strategic acquisition is expected to strengthen Zen Technologies' position in the aerospace and defense solutions space. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
23-06-2025
- Business
- Time of India
Zen Technologies shares in focus after board approves acquisition of TISA Aerospace
Shares of Zen Technologies are likely to be in focus on Monday, June 23, following the company's announcement of a proposed acquisition of a majority stake in TISA Aerospace, an emerging defence technology firm specialising in loitering munitions and unmanned aerial vehicles (UAVs). In an exchange filing, Zen Technologies disclosed that its Board of Directors, at a meeting held on Saturday, approved an investment of up to Rs 6.56 crore towards the proposed acquisition. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Costco Shoppers Say This Wrinkle Cream Is "Actually Worth It" The Skincare Magazine Undo The investment will be executed through two components: The acquisition of 2,06,518 equity shares of Rs 10 each from an existing shareholder of TISA Aerospace, representing 54.67% of the total equity paid-up share capital of the company. The acquisition of 4,00,000 units of 6% Compulsory Convertible Debentures (CCDs) of Rs 100 face value each, from an existing CCD holder, also issued by TISA. The Board of Directors has unanimously approved the investment, which involves acquiring shares from current stakeholders of TISA as well as CCDs previously issued by TISA. The company stated that the transaction represents an investment in a domain of strategic relevance, comprising indigenously developed defence technologies. Live Events TISA Aerospace is positioned as a domestic player within the high-technology defence ecosystem. The company is engaged in the development of loitering munitions and UAVs—both of which are key segments within the evolving landscape of modern precision-guided weapon systems. Zen Technologies, through this acquisition, is entering a segment associated with advanced defence applications. 'This acquisition is a decisive step towards strengthening Zen's position in the rapidly evolving defence drone sector. TISA's expertise in loitering munitions provides us with immediate access to advanced technologies and platforms that align with the emerging operational requirements of the Armed Forces. TISA has achieved significant R&D milestones, including the successful execution of a project for DRDO with critical design assistance from IIT Madras. By integrating these capabilities with our existing strengths in anti-drone systems and propulsion technologies, we are building a broader and more future-ready defence portfolio,' said Ashok Atluri, Chairman and Managing Director of ZenTechnologies. Also read: How will US strikes on Iran affect Indian markets this week? Shares of Zen Technologies closed flat at Rs 1,900.30 on the BSE on Friday. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Entrepreneur
21-05-2025
- Business
- Entrepreneur
UGRO Capital Approves INR 915 Crore Capital Raise via Compulsorily Convertible Debentures
The new CCDs will be issued at a conversion price of INR 185 per share, significantly lower than the INR 264 conversion price set during UGRO's previous capital raise in June 2024, when the company secured INR 258 crore via CCDs and INR 1,007 crore through warrants. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. UGRO Capital, a DataTech-driven NBFC focused on MSME financing, has announced a preferential issue of Compulsorily Convertible Debentures (CCDs) amounting to INR 915 crore, following approval by its Board of Directors. The move is aimed at accelerating the company's growth trajectory and expanding its lending capabilities in the underserved MSME segment. The announcement was made via a press release. The new CCDs will be issued at a conversion price of INR 185 per share, significantly lower than the INR 264 conversion price set during UGRO's previous capital raise in June 2024, when the company secured INR 258 crore via CCDs and INR 1,007 crore through warrants. The latest infusion is expected to lift UGRO Capital's capital adequacy ratio from 19.41 per cent at the close of FY25 to 29.4 per cent, providing a substantial buffer to support its expansion plans. The company's assets under management (AUM) doubled from INR 6,081 crore in FY23 to INR 12,003 crore in FY25. During the same period, profit before tax surged from INR 84 crore to INR 203 crore, while return on assets (ROA) improved from 1.3 per cent to 2.9 per cent (excluding Emerging Market branch expansion impact). Shachindra Nath, managing director of UGRO Capital, said, "UGRO has delivered strong operating performance. I am thankful for all of the existing shareholders and warrant holders for committing a significant amount of capital to UGRO which would ensure that UGRO continues on its growth journey." The preferential allotment has drawn major commitments from institutional investors. Samena Capital and its private equity funds, which already hold a 7.49 per cent stake in UGRO, have committed up to INR 500 crore, positioning them as a leading institutional shareholder. Singapore-based public market investor Aregence has committed INR 168 crore, while several prominent family offices have also participated. To ensure equitable participation for retail investors, UGRO's board has also approved a rights issue of up to INR 400 crore. The terms will be finalized in an upcoming board meeting. IFU, the Danish Government's impact fund and an existing investor with a 16.35 per cent stake, has pledged INR 150 crore toward the rights Issue. Promoters and employees have jointly committed INR 34 crore via both CCDs and the rights Issue.
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Business Standard
20-05-2025
- Business
- Business Standard
UGRO Capital to raise up to Rs 915 crore through preferential CCD issue
UGRO Capital's board approves Rs 915 crore capital raise via CCDs; capital adequacy to improve from 19.41% to 29.4%, with rights issue of Rs 400 crore also planned Aathira Varier Mumbai Listen to This Article UGRO Capital on Tuesday said its board has approved raising up to Rs 915 crore through a preferential issue of compulsorily convertible debentures (CCDs). Post the capital raise, UGRO's capital adequacy is expected to improve to 29.4 per cent from 19.41 per cent at the end of FY25, providing significant headroom for growth. In June 2024, UGRO Capital had raised capital commitments of Rs 258 crore through CCDs and Rs 1,007 crore through warrants, totalling Rs 1,265 crore. These instruments were issued at a conversion price of Rs 264 per share. The new CCDs will be issued at
