Reliance Industries (RIL) and Adani Power have signed a 20-year power purchase agreement for 500 MW, marking a rare, strategic collaboration between conglomerates led by two of the country’s wealthiest men. The Mukesh...
Adani cements its Ambuja stake with₹6,661 cr infusion
The Adani family has infused ₹6,661 crore into Ambuja Cements, raising its stake by 3.6% to 66.7%. This is the second fund infusion since late-2022 when the promoter had invested ₹5,000 crore into the company through...
NCLT refuses to stay Byju’s EGM to increase its authorised share capital
The National Company Law Tribunal on Thursday refused to stay Byju’s extraordinary general meeting (EGM) that will be held today to augment the authorised share capital of the beleaguered edtech company, giving...
IRDAI seeks more details from IIHL to approve deal for Reliance Capital’s insurance business
In a letter to the administrator of Reliance Capital (RCap), IRDAI said it cannot undertake due diligence regarding acquisition of the distressed financial services company’s insurance business by Hinduja-owned...
Food company Annapurna Swadisht acquires ‘Arati’ edible oil brand for Rs 28 cr
Packaged food company Annapurna Swadisht Ltd on Wednesday announced that it has acquired the six-decade-old ‘Arati’ brand mustard oil from R R Proteins and Agro Ltd (RRPAL) for a consideration of Rs 28 crore...
ICICI Securities delisting gets nod, setting up merger with ICICI Bank
India’s ICICI Securities has secured shareholders’ nod to delist its stock, the brokerage said in the early hours of Thursday, paving the way to merge with parent and majority shareholder ICICI Bank. About...
Magicrete completes process of acquisition of majority stake in Maxlite
Magicrete, which produces building product AAC Blocks, construction chemicals, and precast construction solutions, on Wednesday said it has completed the acquisition of a majority stake in Maxlite. The company did not...
Apollo Pipes acquires majority stake in Kisan Mouldings for ₹118.40 crore
Apollo Pipes Ltd, part of the APL Apollo group, has acquired a 53.57% majority stake in Kisan Mouldings Ltd (KML) for ₹118.40 crore, aiming to bolster its position in the PVC pipes and fittings sector. In an exchange...
NCLT admits insolvency resolution plea against erstwhile promoter of DHFL Dheeraj Wadhawan
The National Company Law Tribunal in Mumbai has admitted Union Bank of India’s application to initiate insolvency resolution proceedings against Dheeraj Wadhawan, the erstwhile promoter of Dewan Housing Finance (DHFL)...
CCI clears Adani Power’s purchase of Lanco Amarkantak
The Competition Commission of India on Tuesday approved Adani Power’s acquisition of Lanco Amarkantak Power, according to an order by the antitrust regulator. Adani Power proposes to acquire a 100% stake and control of...
JSW Energy arm inks pact to acquire Reliance Power’s wind project for Rs 132 cr
JSW Energy said that its step-down subsidiary, JSW Renewable Energy (Coated) has signed a business transfer agreement with Reliance Power to acquire a 45 MW wind project in Maharashtra for Rs 132 crore. In an exchange...
Ambit Finvest raises ₹415 crore as Daiwa acquires minority stake
Ambit Finvest, a non-banking financial company (NBFC) within the Ambit Group, has raised ₹415 crore from Japanese financial services firm Daiwa Securities Group Inc for a minority stake. This move aims to capitalize on...
