Proceeds from the QIP are proposed to be used towards capital expenditure requirements, repayment of certain borrowings and growth through unidentified acquisitions.
BNP Paribas Cardif intends to roll out its proven bancassurance strategy in India by partnering with Bank of Baroda and Union Bank of India, also shareholders in IndiaFirst Life Insurance.
Belrise Industries will utilize the proceeds of the QIP for repayment of debt, pursuing strategic investments and growth opportunities and working capital.
The joint venture company will undertake manufacture of part of vivo's OEM smartphone orders in India and bolster Dixon's manufacturing footprint in India.