Auxilo Finserve to disburse RS 350 crore education loans

HYDERABAD: Auxilo Finserve, a non-banking financial company that focuses on educational loans, plans to disburse RS 350 crore over the next two years. The NBFC, backed by Balrampur Chini Mills and investor Akash Bhansali, is aiming to chart a growth path in the educational loan segment where traditional banks lag. “Education loans of about Rs 20,000 crore were disbursed in India in FY17 registering a 17 per cent year-on-year growth. Nearly three lakh students availed education loans to study in India and four lakh students to study abroad. We aim…

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IIM-Ahmedabad receives fresh wave of Rs 15.5 crore restoration fund

The Indian Institute of Management-Ahmedabad (IIM-A) on Monday announced that it has received a fresh wave of Rs 15.5 crore as funds, for conservation and restoration of its heritage campus in the city. The institute said it has so far received Rs 47.5 crore that will help restore almost one-third of the campus that have traditional red-brick structures designed by legendary American architect Louis I Kahn. The fresh wave of funding is largely from the institute’s alumni. “We have so far received Rs 47.5 crore as funds towards restoring our…

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Apollo Health & Lifestyle raises Rs 450 crore from IFC to fund expansion

Apollo Health and Lifestyle, a wholly owned subsidiary of Apollo Hospitals Enterprise, on Thursday, December 1, announced  it had raised Rs 450 crore from the International Finance Corporation (IFC) and the IFC Asset Management Company. Sharing the details in Hyderabad, Sangita Reddy, Joint Managing Director, Apollo Hospitals Enterprise said Apollo Health, which operates in the retail healthcare segment, would be using the funds for its growth and expansion over the next 24 months. It operates a range of formats including multi-specialty clinics (Apollo Clinics), Diabetes Clinics (Apollo Sugar), Diagnostics (Apollo…

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Health foods market crosses Rs10,000 crore in revenue

MUMBAI: Indians are slowly moving away from parathas and cookies to a wider assortment of cereals, oats and milk food drinks as fortified foods with incremental nutrients gain favour with consumers who are willing to spend more on healthy foods. The overall health and wellness food products segment crossed Rs 10,000 crore sales mark in 2015, less than 10% of the overall food market, according to a latest report by Nielsen. Yet, marketers are upbeat. “The packaged food market in India is relatively nascent and per capita consumption even for…

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