CPPIB and OMERS to Invest $526 Million in IndInfravit
The Canada Pension Plan Investment Board (CPPIB) and the Ontario Municipal Employees Retirement System (OMERS) are planning to invest over ₹4,300 crore ($526 million) in IndInfravit, an infrastructure investment trust (InvIT) that owns and operates Indian road assets. The two investors are majority owners of the trust. This investment will help IndInfravit to expand its portfolio and acquire more road assets in India. The deal is expected to be completed by the end of this year.
Fact-Check Unit to Verify Government-Related Information Online
The Indian government is considering multiple proposals for the design of its proposed fact-check unit. The unit will be mandated to ascertain the veracity of government-related information online. Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said that the government is committed to ensuring that accurate information is disseminated to the public. The fact-check unit will help to curb the spread of fake news and misinformation.
Lenders Approve Sale of Oil Basins to Eneva S A and PetroRio
Lenders to VoVL, the oil and gas exploration company of Videocon Industries, have approved a conditional sale of two oil basins to Eneva S A and one to PetroRio. The sale is expected to help Videocon Industries to reduce its debt. The company has been struggling to repay its loans due to a slump in oil prices and a slowdown in the Indian economy. The sale is expected to be completed by the end of this year.
Avalon Technologies IPO Off to a Slow Start
Avalon Technologies IPO has not received a strong response from investors. The IPO is off to a slow start, and it remains to be seen whether it will replicate the returns of Dixon and Amber. Avalon Technologies is a provider of IT services and solutions. The company is looking to raise ₹1,000 crore ($129 million) through the IPO. The IPO will close on September 16, 2021.
Keywords: CPPIB, OMERS, IndInfravit, Fact-Check Unit, Videocon Industries, Eneva S A, PetroRio, Avalon Technologies, IPO, IT services.
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