Shriram Housing Finance, a subsidiary of Shriram City Union Finance, is actively pursuing a smaller lender in the affordable housing space for acquisition and merger while valuation mismatch may pose a hurdle to the...
NCLAT stays insolvency proceedings against Bilcare
In a relief to listed pharmaceutical firm Bilcare, the National Company Law Appellate Tribunal (NCLAT) has stayed the bankruptcy court’s order of admitting the company under the corporate insolvency resolution...
NCLT allows plea for S Kumars’ insolvency resolution
The bankruptcy court has allowed Edelweiss Asset Reconstruction Co’s petition, seeking to initiate insolvency proceedings against S Kumars, and has appointed Anjan Bhattacharya as its interim resolution...
Softbank to divest 29 mn shares in Paytm via block deals on Thursday
SoftBank plans to offload 29 million shares in One97 Communications, which operates India’s largest payments platform Paytm. The global tech investor is offering shares in the range of Rs 555-Rs 601.45 via block deals...
IDFC merger may be delayed on fair value issue
The merger of parent IDFC Ltd with its unit IDFC First Bank is likely to take longer than expected as the managements of both the institutions are looking to extract value for their respective shareholders, said two...
Italy’s Intesa to sell 654 million euro stake in payments group Nexi
Italy’s Intesa Sanpaolo said it was selling its entire 5.1% stake in Nexi, in an effort to cash in on a recent rally in shares of the payments group. Intesa agreed to a 25-year partnership as part of the Italian...
Gujarat-based NBFC tops NARCL bid for consolidated construction
Gujarat-based NBFC Raj Radhe Finance has offered Rs 130 crore to take over the debt of EPC company Consolidated Construction Consortium (CCC) topping National Asset Reconstruction Co Ltd’s (NARCL) Rs 100-crore...
Kedaara, others in talks to acquire Avanse stake
Private equity firms, including Kedaara Capital, are in talks with Warburg Pincus to buy some of its stake in education loans-focused non-banking financial company (NBFC) Avanse Financial Services Ltd, two people aware...
Kairus Shavak Dadachanji buys stake in Shrem InvIT
Kairus Shavak Dadachanji, chairman of the Dadachanji Group of Companies invested Rs 156 crore through a bulk deal as the wealthy investor bought 1.5 crore units in Shrem InvIT at Rs 104 per unit, the company said in a...
Shriram Group merger gets NCLT nod; new entity to take birth by Nov-end
The National Company Law Tribunal (NCLT) has given its nod for the mega-merger of Shriram Transport Finance and Shriram City Union Finance (SCUF). The group is preparing to announce the birth of the new entity, Shriram...
Binance plans to buy rival FTX in bailout as crypto market crumbles
Crypto giant Binance signed a nonbinding agreement to buy FTX’s non-U.S. unit to help cover a “liquidity crunch” at the rival exchange, in a stunning bailout that raised fresh concerns among investors...
India considers capital infusion, merger of loss-making lender IFCI
India is considering pumping about 20 billion rupees ($242 million) into state-run IFCI Ltd. and merge it after with its unit, Stock Holding Corp. of India in an attempt to rescue the beleaguered lender, according to...
