| | AUGUST 20268BNP Paribas Cardif has agreed to acquire about 26 percent stake in IndiaFirst Life Insur-ance from Warburg Pincus, subject to regulatory approvals. Post-transaction, the insurer's ownership will include Bank of Baroda with around 65 percent, BNP Paribas Cardif with 26 percent, and Union Bank of India holding nearly 9 percent. Bank of Baroda confirmed that the stake transfer from Caramel Point Investments, Warburg Pincus' affiliate, will not affect its con-trolling interest. The partnership is expected to support IndiaFirst Life's next growth phase by leveraging BNP Paribas Cardif's global bancassur-ance expertise. CEO Pauline Le-clerc-Glorieux highlighted India as a key strategic market, while War-burg Pincus noted the company's strong performance, resilience, and customer-focused approach over the years, positioning it well for future expansion. uniper Green Energy will launch its Rs.1,800 crore IPO for subscription from July 30 to August 3, with anchor investor bidding opening on July 29. The issue is entirely a fresh equity offering, with no offer-for-sale component. Proceeds will be used to repay debt worth Rs.683.24 crore and to fund subsidiaries with Rs.728.69 crore for loan prepayment, while the remaining funds will support general corporate purposes.Backed by AT Capital Group, the Gurugram-based company develops solar, wind, hybrid, and battery storage projects across India. It is expanding its renew-able portfolio through battery storage and hybrid initiatives to strengthen its position in the country's fast-growing clean energy sector.Lead managers include ICICI Securities, HSBC, JM Financial, and Kotak Mahindra Capital Company. BNP PARIBAS CARDIF TO ACQUIRE 26 PERCENT STAKE IN INDIAFIRST LIFE JUNIPER GREEN ENERGY PLANS RS.1,800 CRORE IPO LAUNCH NEWSROOM INSURANCE & FINANCIAL SERVICES RENEWABLE ENERGY According to a CAG report, the West Bengal Industrial Development Corporation Limited (WBIDCL) incurred a loss of Rs 12.86 crore while allotting land to Flipkart's logistics arm, Instakart Services, at Haringhata Industrial Park in Nadia.The audit found that WBIDCL fixed the base land price without factoring in substantial water bodies on the site, violating its own pricing norms. The finding appears in the Comptroller and Auditor General's 2024 report on public sector under-takings for the year ended March 31, 2023. The Haringhata facility, which hosts Flipkart's largest fulfillment centre in India, was inaugurated in 2022 and spans massive storage capacity. The state had earlier transferred over 1,300 acres to WBIDCL to de-velop the industrial park in phases for future expansion. CAG FLAGS RS. 12.86 CRORE LOSS IN FLIPKART LAND DEALGOVERNMENT & POLICY J
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