As UK introduces DCTS, Indian goods worth $960 mn to lose concessional duty access
Indian goods worth $960 million will lose their concessional duty access due to the UKs new Developing Countries Trading Scheme (DCTS) that will supersede the previous preferential regime from Monday. That said, this exclusion may turn out to be temporary as both countries are in the process of finalising a Free Trade Agreement. Key Points
Economic TimesAmazon should not pay $268 million in Luxembourg back taxes, EU court adviser says
The EU antitrust watchdog equated the tax deal to illegal state aid. However, a lower tribunal in 2021 scrapped the EU decision, dealing a blow to EU competition chief Margrethe Vestager's crackdown on preferential deals. Key Points
FinancialexpressAditya Birla Cap to raise ₹1,250 crore
Aditya Birla Capital plans to raise INR 1,250 crore ($168m) through a preferential share issue to Grasim Industries and Surya Kiran Investments. The move is part of a wider plan to raise up to INR 3,000 crore ($403m) to augment capital and improve solvency margin and leverage ratio. Key Points
mintTPG NewQuest backed UGRO Capital raises Rs 341 crore in second capital expansion
Lending fintech firm UGRO Capital, backed by TPG NewQuest, will raise Rs 341 cr ($46m) via a combination of qualified institutional placement and preferential allotment of shares. This will be the second capital expansion for the company since its inception in 2018. Denmark government-owned fund IFU will be the primary investor, contributing Rs 240cr through its Danish Sustainable Development Goals Investment Fund K/S. Key Points
Economic TimesTPG NewQuest backed URGO Capital raises Rs 341 crore in second capital expansion
Lending fintech firm UGRO Capital, backed by TPG NewQuest, will raise INR341cr ($46m) via a combination of qualified institutional placement and preferential allotment of shares. This will be the second capital expansion for the company since its inception in 2018. Denmark government-owned fund IFU will be the primary investor, contributing INR240cr through its Danish Sustainable Development Goals Investment Fund K/S. Key Points
Economic Times
SpiceJet jumps 6% after board approves raising Rs 2,500 crore via QIP
The company's board has also approved issuing equity shares of $29.5 million on a preferential basis to Carlyle Aviation Partners as part of the proposed restructuring plan reached with the lessor. Key Points
Economic Times