Axis Bank may bring a strategic investor for Axis Finance or even consider a public listing of the non-banking subsidiary, a top executive said. The decision was prompted by the banking regulator’s discomfort with...
Cyient approves sale of 14.50% stake worth 1.15 crore shares in Cyient DLM via block deal
Information technology (IT) services company Cyient announced on Tuesday, August 20, that its board approved the sale of a 14.5 per cent stake in its subsidiary Cyient DLM Ltd through a block deal. Cyient plans to close...
Reliance Group moves NCLT to restrain IIHL from using ‘Reliance’ brand name
Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVPL), a Reliance Group company, has filed an interim application in the NCLT, seeking direction to the Reliance Capital’s successful resolution applicant IIHL to stop...
NCLT approves merger of Slice and North East Small Finance Bank
The National Company Law Tribunal (NCLT) has approved the merger of Bengaluru-based Slice with Guwahati-headquartered North East Small Finance Bank. This will pave the way for the closure of the merger, which received...
NCLT approves merger of TCNS Clothing into Aditya Birla Fashion and Retail
Aditya Birla Fashion and Retail Ltd (ABFRL) said that the National Company Law Tribunal (NCLT) has approved the merger of the company with TCNS Clothing. The Scheme of Amalgamation (by way of Merger by Absorption) among...
Adani in talks to buy Reliance Power’s 600 MW thermal plant
Adani Power Ltd has begun talks to acquire the 600 MW Butibori thermal power project in Nagpur once owned by Anil Ambani’s bankrupt Reliance Power Ltd, two people aware of the matter said. A deal is likely in the...
Vedanta to sell 2.6% stake in Hindustan Zinc via OFS
Metals and mining major Vedanta Ltd on Tuesday announced that its committee of directors has approved the sale of up to 11 crore shares or 2.6% equity in Hindustan Zinc via an offer for sale (OFS). “We wish to...
Bankruptcy court okays SKS Power Generation’s Acquisition by Sarda Energy & Minerals
The Mumbai bench of the National Company Law Tribunal (NCLT) Tuesday approved SKS Power Generation (Chattisgarh) Ltd’s acquisition by BSE-listed Sarda Energy & Minerals. The division bench of judicial member Kishore...
Rural fintech startup Jai Kisan gets RBI approval for NBFC acquisition
Rural fintech startup Jai Kisan on Tuesday said it has received regulatory approval from the Reserve Bank of India for the acquisition of a majority stake in NBFC Kushal Finnovation Capital. Details of the stake...
JSW Neo, Sembcorp, ONGC shortlisted to acquire NIIF backed Ayana in $800 million deal, binding bids by 19 August
State-run Oil and Natural Gas Corp. (ONGC), JSW Group’s JSW Neo Energy, and Singapore’s Sembcorp Industries Ltd have been shortlisted to submit binding bids to buy a significant majority stake in Ayana Renewable Power...
LIC decreases stake by 2 percent in air conditioners giant Voltas
Life Insurance Corporation of India (LIC) decreased its equity stake shareholding in Voltas from 22,685,279 shares to 15,731,283 shares or from 6.856 per cent paid up capital of the company to 4.754 per cent — a drop of...
Sonata Finance to merge with BSS Microfinance: Kotak Bank
Kotak Mahindra Bank on Monday said Sonata Finance Private Ltd and BSS Microfinance Ltd, both wholly-owned subsidiaries of the bank, at their respective board meetings have approved a scheme of amalgamation. As per the...
