The government may consider selling up to 5 per cent stake in the state insurer Life Insurance Corporation (LIC) this financial year in order to meet the minimum public shareholding (MPS) norm, Business Line reported...
Compass India acquires 70% stake in food services company ICS Foods
Food services and contract catering company Compass India Food Services, wholly-owned subsidiary of the $40 billion British Compass Group Plc, has acquired a 70% stake in Delhi-based food and beverages catering company...
NCLT to hear Reliance Capital-IIHL resolution case on Wednesday, expected to issue direction to parties
The Mumbai bench of NCLT is expected to hear on Wednesday an interlocutory application filed by the Administrator of debt-ridden Reliance Capital (RCAP) seeking directions to IIHL for implementation of the resolution...
Vedanta files demerger scheme with NCLT
Mining giant Vedanta has filed the demerger scheme with the National Company Law Tribunal (NCLT) post receiving all the required approvals, its CFO Ajay Goel said on Tuesday. Goel announced this in their quarterly...
Suzlon to acquire 76 pc stake in Renom Energy Services for Rs 660 cr
Renewable energy solutions provider Suzlon Group on Tuesday said it has executed definitive agreements to acquire 76% stake in Renom Energy Services Private Limited from the Maharashtra-based Sanjay Ghodawat Group. The...
Tata Power to acquire 40% stake in KHPL for Rs 830 crore
Tata Power on Tuesday announced plans to acquire a 40 per cent stake in Khorlochhu Hydro Power Limited (KHPL) for Rs 830 crore to set up a 600 MW hydro project in Bhutan. In a statement, Tata Power said it has finalized...
Airtel’s data centre business Nxtra, Indus Towers merger unlikely: CEO Vittal
Bharti Airtel is unlikely to merge its data centre business-Nxtra-with tower provider Indus Towers, as the company would prefer flexibility by keeping the assets unbundled, top executives of the country’s second...
Tata Power gets LoI to acquire SPV in Odisha
Tata Power Company on Monday said it has received a letter of intent from PFC Consulting, the wholly-owned subsidiary of Power Finance Corporation, to acquire a project-specific special-purpose vehicle. In a regulatory...
NCLT allows KSK Mahanadi lenders to distribute surplus cash of Rs 6400 crore among them
The Hyderabad bench of the National Company Law Tribunal (NCLT) today approved a plea from the resolution professional of KSK Mahanadi Power to distribute the surplus cash amounting to Rs 6400 crore among lenders...
Mahindra Lifespace, Actis form JV to build industrial & logistics park; 1st project in Chennai
Realty firm Mahindra Lifespace Developers Ltd and Actis have formed a joint venture platform ‘Ample Parks’ for the development of industrial and logistics parks and will build their first 70-acre project in...
Infibeam Avenues to acquire 54% stake in Rediff
Gujarat-based fintech company Infibeam Avenues has agreed to acquire a 54% stake in Rediff, one of India’s oldest internet firms. In a filing with the BSE Friday, Infibeam said it invested around Rs 50 crore in Rediff...
IDBI Bank sells distressed Rs 6151 cr portfolio to Omkara ARC
IDBI Bank is selling its Rs 6,151 crore legacy stressed asset portfolio to Omkara Asset Reconstruction Company (ARC) in a move that will help the government fetch an improved valuation for the proposed stake sale in the...
