The National Company Law Tribunal (NCLT) has approved Chemhub Tradelink’s resolution plan for Pancard Clubs, which has debt claims of around Rs 8,900 crore, which is leading to 8% recovery for creditors. Ahmedabad...
PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln
Private equity firm GTCR has agreed to pay $2.7 billion to buy AssetMark Financial, in a deal that would take the wealth management platform private more than five years after its initial public offering. The...
NARCL makes binding bid for Essel Infra’s road project debt
The National Asset Reconstruction Company of India (NARCL) has given a binding offer to lenders to acquire ₹988-crore debt of a road project awarded to Subhash Chandra’s Essel Infraprojects in Ludhiana, said...
Edelweiss Alt completes acquisition of L&T Infra Development Projs for Rs 6,000 cr
Edelweiss Alternatives on Thursday announced that it has completed the Rs 6,000 crore deal to acquire L&T Infrastructure Development Projects (LTIDPL), which owns various road assets and power transmission lines...
Warburg Pincus frontrunner to buy Shriram Housing Finance
Warburg Pincus is closing in on Shriram Housing Finance Ltd (SHFL), having emerged as the frontrunner to acquire the unit of Chennai-based non-banking finance company (NBFC) Shriram Finance, said people in the know. In...
NCLT admits insolvency resolution plea against erstwhile promoter of DHFL Dheeraj Wadhawan
The National Company Law Tribunal in Mumbai has admitted Union Bank of India’s application to initiate insolvency resolution proceedings against Dheeraj Wadhawan, the erstwhile promoter of Dewan Housing Finance (DHFL)...
Ambit Finvest raises ₹415 crore as Daiwa acquires minority stake
Ambit Finvest, a non-banking financial company (NBFC) within the Ambit Group, has raised ₹415 crore from Japanese financial services firm Daiwa Securities Group Inc for a minority stake. This move aims to capitalize on...
Six ARCs acquire 55% of KSK Mahanadi Power’s Rs 29,330-crore debt
Six asset reconstruction companies, including Aditya Birla and Kotak Mahindra-backed ARCs, have accumulated 55% of KSK Mahanadi Power’s ₹29,330-crore debt from lenders in separate transactions, shows disclosure...
Hinduja company taps Japanese banks to fund Reliance Capital buy
Hinduja group company IndusInd International Holdings Limited (IIHL) has approached Japanese banks to raise up to ₹8,000 crore to finance a bid for Reliance Capital, formerly promoted by Anil Ambani, ahead of the May 27...
Defunct SVB Financial Group to offload Indian arm to First Citizens Bancshares
The bankrupt parent company of Silicon Valley Bank plans to sell its entire stake in Indian subsidiary SVB Global Services India to lender First Citizens Bancshares, it said in a filing on Wednesday. SVB Financial Group...
NCLT directs IIHL to complete Reliance Capital’s resolution plan within 90 days
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday allowed an application filed by the administrator of Reliance Capital and directed Hinduja Group-owned IndusInd International Holdings Ltd (IIHL)...
Aditya Birla Capital, Aditya Birla Finance announce a Scheme of Amalgamation for creation of a large NBFC
The Boards of Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) on Monday approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating NBFC. It is to...