Rs 13 billion investment by SMFG fuels Indian NBFC expansion

PHF Leasing increases its electric vehicle loan offerings.

Punjab-based PHF Leasing Limited, a deposit accepting NBFC, has increased its electric vehicle loan portfolio by including loan products for electric two-wheelers, used e-rickshaw loans, and electric cargo vehicles in the L5 category. The diversification is seen in addition to current electric rickshaws, e-loaders, and other L3 EV loan products that are already available.

PHF Leasing provides financing for electric vehicles, mainly rickshaws, loaders, and two-wheelers powered by electricity (EVs), as well as mortgage loans secured by real estate (LAP). It is a non-banking financial comp..

Piramal Group's subsidary invests Rs 6 bn in Annapurna Finance

Piramal Alternatives, the fund management arm of the Piramal Group, has made a significant investment in Annapurna Finance Private Limited, amounting to Rs billion. This investment includes Rs 3 billion to acquire a 9.85% stake in Annapurna through a secondary purchase of shares, along with an additional Rs 3 million for subscribing to Annapurna's optionally convertible debenture.

“The deal involved a combination of secondary purchase of shares and providing Tier-II capital. The structured capital solution will help fuel the risk-calibrated growth of the company's assets under ma..

Piramal Group's subsidary invests Rs 6 bn in Annapurna Finance

Piramal Alternatives, the fund management arm of the Piramal Group, has made a significant investment in Annapurna Finance Private Limited, amounting to Rs billion. This investment includes Rs 3 billion to acquire a 9.85% stake in Annapurna through a secondary purchase of shares, along with an additional Rs 3 million for subscribing to Annapurna's optionally convertible debenture. ?The deal involved a combination of secondary purchase of shares and providing Tier-II capital. The structured capital solution will help fuel the risk-calibrated growth of the company's assets under management?, com..

TVS Motor Unveils Electric Two-Wheeler

TVS Motor Company, a leading two-wheeler manufacturer in India, has unveiled its latest addition to the electric vehicle segment with the launch of the TVS iQube Electric in Bengaluru. This move marks the company's foray into the burgeoning electric vehicle market, aligning with the global shift towards sustainable mobility solutions.

The TVS iQube Electric promises to redefine urban commuting with its advanced technology and eco-friendly features. Boasting a sleek design and compact structure, the electric scooter is tailored to meet the evolving needs of urban commuters, offering a s..

Chinese EV Giant Leapmotor Eyes Indian Market

Chinese electric vehicle (EV) manufacturer Leapmotor is poised to make a significant entry into the Indian market in the third quarter of the 2024-25 fiscal year. With India rapidly transitioning towards electric mobility, Leapmotor's arrival could mark a pivotal moment in the country's automotive industry.

Leapmotor's decision to venture into India underscores the growing appeal of the country as a lucrative market for EV manufacturers worldwide. As one of the world's largest automotive markets, India presents immense opportunities for companies looking to capitalise on the increasing..