The government is likely to sell a part of its residual stake in Hindustan Zinc Ltd by next month to help it achieve the revised sell-off target of Rs 50,000 crore for the current fiscal, DIPAM Secretary Tuhin Kanta...
Shyam Metalics acquires Mittal Corp
Kolkata-headquartered integrated metal producer Shyam Metalics and Energy Ltd has announced the acquisition of Indore-based Mittal Corp Ltd to expand its footprint in stainless steel, wire rod and bar mill businesses...
ICICI Sec, Axis Cap among 5 bankers to manage govt’s HZL stake sale
ICICI Securities, Axis Capital and Citigroup Global Markets are among the five investment bankers selected to manage the sale of the government’s 29.53 per cent residual stake in Hindustan Zinc Ltd, an official...
Bankruptcy court okays Orissa Metaliks’ revival plan for MSP Metallics
The dedicated bankruptcy court has approved a revival plan submitted by Orissa Metaliks Pvt Ltd (OMPL) for the integrated steel manufacturer MSP Metallics Ltd. Kolkata-based OMPL is paying about Rs 800 crore, whereas...
Vedanta acquires debt ridden Athena Chhattisgarh Power for Rs 565 cr
Mining major Vedanta said it would acquire debt-ridden Athena Chhattisgarh Power for Rs 564.67 crore in an all-cash transaction. The liquidation process for the company was initiated in March last year. According to...
Got multiple EoIs for FSNL disinvestment: DIPAM Secy
The Secretary of the Department of Investment and Public Asset Management (DIPAM) on Monday tweeted that multiple expressions of interest (EoIs) have been received for the strategic disinvestment of Ferro Scrap Nigam...
Cabinet clears sale of govt’s 29.58% stake in Hindustan Zinc valued at Rs 38,000 crore
The Union Cabinet on Wednesday approved the sale of the government’s residual 29.58 per cent stake in Hindustan Zinc Ltd, which at current prices would fetch over Rs 38,000 crore to the exchequer, sources said...
We have no plans to merge Vedanta Limited with parent company: Anil Agarwal
There are no plans to merge Vedanta Limited with its London-based indebted parent Vedanta Resources, billionaire Anil Agarwal said on Wednesday, a day after his company scrapped its proposed restructuring plans that had...
Vedanta drops restructuring plan, board finds present structure ‘optimal’
Vedanta Limited said that it has dropped its restructuring plans which involved hiving off and listing three of its businesses after its board found the present structure to be “optimal”. The company had in November...
Vedanta demerger call by March-end: Anil Agarwal
Metals and mining group Vedanta Ltd will announce the contours of a proposal to spin off key businesses into separate listed companies by March-end, its chairman Anil Agarwal said, as he looks to simplify and streamline...
Jindal Aluminium acquires Indo Alusys’ extrusion plant for Rs 100 crore
Jindal Aluminium Limited has concluded a Rs 100-crore acquisition of the assets of Indo Alusys Industries Limited (IAIL) and commencement production at the revived Bhiwadi plant. The acquisition of IAIL’s assets...
Nalco, Hind Copper strategic sale plans may soon land on Cabinet table
The disinvestment department is expected to soon seek cabinet clearance for the strategic sale of National Aluminium Co Ltd (NALCO) and Hindustan Copper Ltd (HCL), people familiar with the development told ET. Demand is...
