IDFC Project Equity Company will invest Rs 250 crore through its India Infrastructure Fund in a 540 mw plant being built by Adhunik Power & Natural Resources in Jamshedpur. Adhunik Power is a subsidiary of the Rs 1,300 crore Adhunik Metaliks. Arun Kedia, group CFO, Adhunik Power, told DNA Money the investment by the IDFC subsidiary will be spread over two years. "The funding will come in through the issue of convertible bonds, which will be converted into equity shares after two years. They (IDFC) will hold 27% stake in the project then."   more »

Small Industries Development Bank of India (SIDBI) on Wednesday raised its stake in the country's leading microfinance institution, Bandhan, to 12.23% from the existing 1.31%, underscoring the growing role of such institutions that lend to the poor. The additional 10.92% stake will cost SIDBI Rs 50 crore. Accordingly, the paid-up capital of Bandhan-which lends only to women-will rise to Rs 118 crore from Rs 68 crore, and its net worth to Rs 165 crore (Rs 115 crore). At present, SIDBI is the lone institutional stakeholder in Bandhan. Both Bandhan and SIDBI confirmed the development to ET.   more »

Standard Chartered Private Equity Ltd. invested US$33 million in Firepro Systems Private Ltd., India's largest fire and electronic safety firm, the companies said Wednesday. The capital will be used to expand and upgrade Firepro's business, they said. "The infrastructure protection and safety sector is poised for strong growth and we wish to be at the crest of this opportunity," N.S. Narendra, chairman and managing director of Firepro, said in a statement.   more »

Realty firm Parsvnath Developers Ltd today said it has (PDL) inked an agreement with international real estate private equity fund Sun-Apollo which will invest Rs 75 crore in Parsvnath's premium luxury residential project in Gurgaon. The Sun-Apollo will invest the money for a 50 per cent stake in the project SPV which will develop Parsvnath Exotica Part-II in Gurgaon, a company statement said.   more »