Hinduja Group, promoter of IndusInd Bank, made an attempt to revise upward its bid for taking over debt-ridden Relinace Capital to Rs 9,500 crore with upfront cash outgo of Rs 8,800 crore, sources said. The group had...
Torrent wins race to acquire RCap with Rs 8,640 crore offer to lenders
Ahmedabad-based Torrent group has won the race to acquire Reliance Capital after making an offer of Rs 8,640 crore for the company in an auction held on Wednesday. The offer was made by the promoter entities of the...
NCLAT rejects Promoters plea challenging insolvency of Srei group cos
The National Company Law Appellate Tribunal (NCLT) on Wednesday rejected Srei Infrastructure Finances’ promoter Adisri Commercial’s plea challenging the Kolkata National Company Law Tribunal’s 8 October 2021 insolvency...
Piramal partner Cosmea exits race to acquire R-Capital
Cosmea Financial Holdings, which partnered with Piramal Enterprises to bid for the Anil Ambani-promoted Reliance Capital, has told the debt-laden financial services company’s administrator it is exiting the...
Tata in talks to buy majority stake in UTI AMC from 4 PSU finance entities
The Tata Group is looking to buy a majority stake in India’s eighth largest mutual fund UTI Asset Management Co (AMC). The group is in final stages of negotiation to buy the stake from four state-owned financial...
Binance.US to Buy Assets of Bankrupt Crypto Lender Voyager, Eyes More Acquisitions
The U.S. arm of Binance, the world’s largest cryptocurrency exchange by trading volume, has agreed to buy the assets of bankrupt crypto lender Voyager Digital. Voyager resumed its search for a buyer after the collapse...
HDFC Bank acquires 7.75% stake in payments startup Mintoak
HDFC Bank will take a minority stake in fintech startup Mintoak Innovations for Rs 31.14 crore in cash, the private sector lender said in an exchange filing. After completion of the deal, it will hold 7.75% of the total...
Poonawalla Housing Finance to be sold to Perseus SG Pte Ltd for Rs 3,900 crore
Poonawalla Fincorp has decided to sell its subsidiary Poonawalla Housing Finance to Perseus SG Pte Ltd, an entity affiliated with TPG Global LLC, for Rs 3,900 crore. The decision was in line with the company’s...
KFin promoter to offload small stake via secondary sale
KFin Technologies’ (KFintec) initial public offering will open on Monday, December 19. This issue will be an offer for sale by the promoter General Atlantic Singapore to offload stake amounting to ₹1500 crore through...
Pristine Malwa gets court nod for resolution plan of CCD arm
The bankruptcy court of Chennai has approved a resolution plan by Pristine Malwa Logistics Park for Sical Logistics Ltd, the bankrupt subsidiary of Coffee Day Enterprises. Pristine Malwa proposed a ₹521-crore resolution...
Sun Capital Partners in advanced talks to buy K3 Capital in $314 mln deal
K3 Capital said it was in advanced talks to sell itself to U.S. private-equity firm Sun Capital Partners Group in a deal valuing the British professional services firm at 257.3 million pounds ($314 million). Sun Capital...
Oaktree may exit from Reliance Capital resolution process
US-based Oaktree, one of the four bidders in the race for debt-ridden Reliance Capital resolution process, may exit if its demands are not taken care by lenders, sources said. According to sources, Oaktree has sought...
