The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition against textile company Sintex Industries after it failed to pay more than Rs 7000 crore to a group of creditors led by...
Airtel Africa sells tower units in Madagascar, Malawi to Helios for $108 million
Airtel Africa has sold its tower units in Madagascar and Malawi to Helios Towers Plc for around $108 million (Rs 783 crore approx) and inked separate pacts with the UK telecom infrastructure company for potential sale...
Welspun India’s board approves raising up to $100 mn
Home textiles major Welspun India’s board has approved raising up to $100 million (approximately ₹750 crore) in one or more tranches. The board of directors has “approved raising of borrowing of up to a...
ABFRL picks up 33.5% stake in Tarun Tahiliani brand to strengthen position in ethnic wear segment
Aditya Birla Fashion & Retail has acquired a 33.5% stake in the luxury apparel-to-jewellery company of fashion designer Tarun Tahiliani for Rs 67 crore, with an option to increase the stake to 51% in the next few...
Garment Mantra acquires 83.8% stake in Jannat Fabrics, to pick up 100% soon
Garment Mantra Lifestyle Ltd, the erstwhile Junction Fabrics & Apparels Ltd), has acquired an 83.8 per cent stake in Jannat Fabrics and Apparels Private Limited. The management is expecting to acquire 100 per cent...
CCI imposes Rs 302 cr penalty on Grasim Industries
The Competition Commission has slapped a penalty of Rs 302 crore on Grasim Industries for abusing its dominant position with respect to supply of a certain staple fibre to spinners. Besides, the company has been...
RIL pumps in Rs 500 crore equity into Alok Inds for 37.7%stake
Alok Industries (AIL) has informed the stock exchanges that Reliance Industries (RIL), which in consortium with JM Financial Asset Reconstruction Company had won the right to buy it through the insolvency process, has...
Moncler’s CEO does not rule out M&A but no plan for now
Moncler Chief Executive Remo Ruffini said he did not rule out a tie-up with another group in the future but reiterated there was nothing concrete on the table. “I am certainly looking for a new chapter for Moncler. We...
Welspun Groups family office acquired a majority stake in One Industrial platform
Welspun Group Promoters, through a closely held family office investment has acquired majority stake in warehousing platform – One Industrial Spaces, an integrated fund, development and asset management...
Lux Industries pares stake in company that partners with Virat Kohli brand
Hosiery major Lux Industries has said its stake in Artimas Fashions Private Limited (AFPL) which is the licensee of Indian cricket captain Virat Kohli’s innerwear brand, was reduced from 100% to 50.87%. The...
Laptev Finance gets CCI nod to acquire Welspun’s plates and coils biz
The Competition Commission on Monday said it has approved the acquisition of Welspun Corp’s plates and coils mill division by Laptev Finance Pvt Ltd. Welspun Corp in March had said it will sell its assets worth Rs...
Raymond demerges core lifestyle business
Raymond Ltd said it will demerge its core lifestyle business into a separate listed entity to simplify the group structure and create investor opportunities. The new entity, Raymond Lifestyle Ltd, will bring all its...
