Indian telecom operator Vodafone Idea said on Friday it would raise up to 180 billion rupees ($2.16 billion) later this month through a sale of new shares, in what will be the country’s biggest follow-on public...
NCLAT upholds insolvency proceedings against Tulip Hotels over default of guarantees
The National Company Law Appellate Tribunal (NCLAT) has upheld the insolvency proceedings against Tulip Hotels, which had defaulted on Rs 450 crore corporate guarantees given for Cox & Kings and EzeeGo One Travel...
Dixon to buy majority stake in Transsion manufacturing unit
India’s leading contract maker Dixon Technologies has said it plans to buy a majority stake in Ismartu India, a manufacturing unit of Chinese phone maker Transsion Holdings, to expand its business. Dixon will initially...
Tata Group in talks to acquire majority stake in Pegatron’s Chennai iPhone factory
Contract manufacturer Pegatron is in advanced talks to sell a majority stake in its iPhone manufacturing unit near Chennai to Tata Group, people aware of the matter told ET. “The deal is expected to be completed in the...
Embassy REIT to acquire Splendid TechZone asset in Chennai
Embassy Office Parks REIT has agreed to purchase Embassy Splendid TechZone, a Grade-A business park, from Embassy Sponsor, for an Enterprise Value of Rs 1,269 crore. The proposed acquisition marks Embassy REIT’s entry...
Keep Dream11 as going concern: NCLAT to RP
The National Company Law Appellate Tribunal (NCLAT) on Wednesday directed the resolution professional of Sporta Technologies, the parent company of Dream11, to keep it as a going concern. The RP’s counsel argued...
Zetwerk bets big on defence, investing Rs 350 crore, to acquire European company
Contract manufacturing startup Zetwerk is betting big on the defence market and is looking to invest up to Rs 350 crore in the next few years to acquire foreign companies involved in manufacturing components for...
Rentokil PCI to Set New Standards in the Pest Control Industry with the Acquisition of HiCare
Rentokil PCI, India’s leading pest control service provider acclaimed for its expertise in pest control, has acquired HiCare Services Pvt. Ltd., a hygiene and pest management company via a share purchase deal...
NCLT approves merger between Hinduja Group’s healthcare, real estate companies
The National Company Law Tribunal (NCLT) has approved the scheme of merger by absorption between Hinduja Group’s unlisted entities Hinduja Realty Ventures Ltd and Hinduja Healthcare Ltd. The order, delivered on...
NCLAT dismisses Sundaram Brake’s plea against CCI cease and desist order on railways tendering
The National Company Law Appellate Tribunal on Tuesday dismissed a plea by Sundaram Brake Linings, challenging a cease and desist order passed against the company by the fair trade regulator CCI. NCLAT upheld orders...
Ashish Kacholia picks up 17% stake in largest homegrown burger chain Jumboking
Ace investor Ashish Kacholia has picked up a 17.2% stake in homegrown burger chain Jumboking for an undisclosed amount, becoming its second-biggest shareholder. The investment was through a secondary market transaction...
CCI clears Axis Bank’s proposed acquisition of stake in Max Life Insurance
Fair trade regulator Competition Commission of India (CCI) on Tuesday said it has approved Axis Bank’s proposed acquisition of a stake in Max Life Insurance Company Ltd. Last year in August, the company announced...
