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Deutsche Bank (DB) and Cerberus Capital Management, a special situations specialist, are leading the $1.7 billion credit raise by the promoters of Shapoorji Pallonji (SP) Group, the Mistry family. Deutsche Bank is also book runner and lead arranger of the capital raise along with Standard Chartered Bank (SCB).
India’s stock market witnessed a broad-based rally Friday, helping local shares regain their positive momentum, on expectations of the US government edging closer to a deal to raise the national debt ceiling.
Plans by Tata Motors and Mahindra and Mahindra (M&M) to sell stakes in their respective electric vehicle (EV) units have stalled over valuation mismatches, causing both to suspend the process, said people aware of the development.
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