INOXGFL Group has hired EY for a planned majority stake sale in its commercial and industrial (C&I) business, two people aware of the development said, a transaction with a potential equity value of around $200...
Hinduja company taps Japanese banks to fund Reliance Capital buy
Hinduja group company IndusInd International Holdings Limited (IIHL) has approached Japanese banks to raise up to ₹8,000 crore to finance a bid for Reliance Capital, formerly promoted by Anil Ambani, ahead of the May 27...
Future Enterprises gets bids for manufacturing units, insurance biz
Central Bank of India and Mumbai based M Pallonji & Co are the two bidders for Future Enterprises’ insurance business offering Rs 450 crore and Rs 300 crore respectively, two people familiar with the process said...
Omkara ARC acquires Park Hyatt Hyderabad’s bad loans at 34% discount
Manish Lalwani-promoted Omkara ARC has acquired Park Hyatt Hyderabad’s loans for ₹300 crore from lenders at a 34% discount from sellers that included BlackRock and JM Financial. The all-cash deal involved Omkara...
CCI approves Ultratech’s acquisition of Kesoram’s cement unit
The Competition Commission of India (CCI) has approved UltraTech’s acquisition of the cement business of Kesoram Industries and also the purchase of a certain stake of Shriram Investment Holdings Private Ltd by Shriram...
Shapoorji arm to raise Rs 700 cr through data centre stake sale
Sterling and Wilson, an engineering, procurement and construction company of the Shapoorji Pallonji Group, will raise ₹700 crore from a group of strategic investors through a stake sale in its data centre business...
HDFC Bank closes $1.15 bn stake sale in education finance arm HDFC Credila
India’s HDFC Bank said on Wednesday it has completed the sale of its stake in education finance arm HDFC Credila for Rs 9,553 crore ($1.15 billion) to private equity firms BPEA EQT and ChrysCapital. The deal...
Dashmani Media Expands Digital Empire with Strategic Acquisitions of Total Filmi and Bollywood Paparazzi
Dashmani Media Private Limited is making significant strides in the digital media world with its recent acquisitions of Total Filmi and Bollywood Paparazzi, two influential content platforms. These acquisitions are a...
Lenders to sell Wind World (India) debt to NARCL, recover 18% dues
The government-backed National Asset Reconstruction Company (NARCL) is declared the winning bidder for a majority debt of Wind World (India) following an uncontested Swiss challenge auction held by lenders on Monday...
IL&FS moves NCLAT, seeks protection for group companies from wilful defaulter tag
The newly appointed board of debt-ridden IL&FS has moved an urgent application before the appellate tribunal NCLAT to restrain 11 public sector lenders from initiating proceedings to declare its group companies as...
India’s Ashok Leyland partners with Minus Zero to develop self-driving trucks
Indian automaker Ashok Leyland has partnered with Minus Zero to develop self-driving trucks, the autonomous driving technology startup said on Tuesday. The self-driving trucks will initially be developed for ports...
India’s Tata Sons to sell TCS shares worth up to $1.13 bln, term sheet shows
India’s Tata Sons, the holding arm of Tata Group, plans to sell shares in Tata Consultancy Services (TCS) worth up to 93.62 billion rupees ($1.13 billion) on Tuesday, a term sheet showed. Tata Sons plans to...
