The tenor of the loan is likely to be five years. It may be priced 110-120 basis points above the Secured Overnight Financing Rate (SOFR), the benchmark that replaced Libor. The deal is expected to be sealed in the next few weeks.
Pune’s onion prices have surged by approximately 20% in the last two weeks due to crop damage from heavy rains, leading to reduced market arrivals.
Private equity firm True North and Niva Bupa Health Insurance chief Krishnan Ramachandran divested a combined 10 per cent stake in the health insurer for
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