The insurance behemoth disclosed in a regulatory filing on November 23 that it sold 1.14 crore shares of Engineers India during the period from February 02, 2021, to November 22, 2023, at an average price of ₹118.08...
Siemens Energy considering to sell substantial part of 24% stake to Siemens
Siemens Energy AG is considering selling a substantial part of its 24% stake in a listed Indian affiliate to former parent Siemens AG as part of efforts to shore up its balance sheet, according to people familiar with...
Swan Energy-Hazel Mercantile make payment of first tranche to acquire Anil Ambani’s Reliance Naval and Eng
Swan Energy paid Rs 231.4 crore to lenders, the first full tranche of payment for acquiring Anil Ambani- promoted Reliance Naval and Engineering Ltd in a bankruptcy auction, the company said in a statement to the Bombay...
Mitsubishi Corp considering bid for Fujitsu’s chip unit Shinko Electric – sources
Mitsubishi Corp is considering bidding for Fujitsu’s chip packaging unit Shinko Electric Industries, two sources said, as Japan’s top trading house weighs an entry into semiconductor manufacturing...
Wipro Pari makes strategic investment to acquire significant majority of Ferretto Automation & Services
Wipro Pari, the industrial automation business of Wipro Enterprises, announced it has signed a definitive agreement to acquire a significant majority share capital of Ferretto Automation and Services, a subsidiary of...
NCLT directs Swan Energy to make upfront payment for Reliance Naval
The Ahmedabad bench of NCLT has asked Swan Energy, the firm that had won the bid to buy Reliance Naval and Engineering Ltd in an insolvency proceeding, to make the upfront payment it had proposed in the resolution plan...
GG Engineering, Integra Essentia get board approvals to execute merger plan
The board of GG Engineering Ltd has approved a merger plan of the company with Integra Essentia Limited, which is in the steel and renewable energy business. The proposal remains subject to several other necessary...
Punj Llyod fails to get bids in second auction
Debt-ridden Punj Lloyd has failed to secure bids in the second e-auction held for the sale of the engineering company as a going concern, people familiar with the matter said. “Auction has failed as two or three...
Meritor acquisition: CCI levies Rs 10 lakh penalty on Cummins
The Competition Commission of India (CCI) has levied a penalty of Rs 10 lakh on Cummins for failing to notify the regulator about the acquisition of sole control of Meritor. The transaction pertains to the acquisition...
L&T eyes green energy, plans to sell non-core biz as Naik exits
I am leaving, but I am still there,” said A. M. Naik, the departing chairman of engineering and construction giant Larsen & Toubro (L&T) Ltd, while addressing his final and the conglomerate’s 78th annual...
Carlyle to buy 30% of Quest Global for $500 mn
Private equity (PE) giant Carlyle has agreed to acquire a significant minority stake in engineering services firm Quest Global, the two companies said on Tuesday. Simultaneously, Carlyle and Quest will together buy back...
NCLAT reviewing dismissal of Simplex insolvency case
The principal bench of the National Company Law Appellate Tribunal (NCLAT) is reviewing an order by a lower court that had dismissed a plea by the Central Bank of India to commence bankruptcy proceedings against Kolkata...
