The Boards of Aditya Birla Capital Limited (ABCL) and Aditya Birla Finance (ABFL) on Monday approved the Scheme of Amalgamation (Scheme) of the two companies, to further create a large unified operating NBFC. It is to...
Adani Group keen to buy AAI’s stake in Mumbai airport: Report
The Adani Group is considering a bid to acquire the stake held by the Airports Authority of India (AAI) in the Mumbai International Airport, the Mint newspaper reported citing Karan Adani, managing director of Adani...
Quorum Club sells 5% stake to Nikhil Kamath’s Gruhas in pre-series A round
Quorum Club Private Ltd, the parent company of luxury members-only club, The Quorum, has closed an undisclosed pre-series A funding round for a 5% divestment in stake led by Gruhas, a venture founded in 2021 by Nikhil...
Board of Pitti Engineering approves acquisition of Bagadia Chaitra Industries
At meeting held on 11 March 2024. The Board of Pitti Engineering (PEL) at its meeting held on 11 March 2024 has approved the secondary acquisition of 100% of the equity share capital of Bagadia Chaitra Industries. The...
AG&P Pratham, Think Gas set for $1.1-billion merger
Global infrastructure investor I-Squared Capital-backed city gas distribution companies in India — AG&P Pratham and Think Gas Distribution — are set to merge, according to two industry executives aware of the...
Max India explores PE deals for Antara stake sale
Max India Ltd is in talks with private equity (PE) firms to sell 5-10% stake in its subsidiary Antara Assisted Care Services Ltd, two people aware of the development said. Max India, part of the $4 billion Max Group, is...
Centre raises M&A thresholds for antitrust regulator’s nod
The Ministry of Corporate Affairs on Friday increased the asset and turnover thresholds for mergers and acquisitions of firms that would require the approval of the antitrust regulator, sparing small deals from...
NCLT rejects resolution plan for Cambay Hotels operator
The bankruptcy court in Ahmedabad has rejected Gujarat-based Express Group of Hotels’ revival plan for Neesa Leisure Ltd, which operates a luxury hotel chain under the brand Cambay. The company has admitted liabilities...
NCLT admits NCR Rail Infrastructure for insolvency resolution
The National Company Law Tribunal (NCLT) in Mumbai on Thursday admitted an insolvency resolution application against NCR Rail Infrastructure (previously Arshiya Rail Infrastructure) and appointed Bhuvan Madan as the...
IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation
IndiGo co-founder Rakesh Gangwal plans to sell up to 12.75 million shares, or 3.3% of his stake in InterGlobe Aviation Ltd, through a block deal, according to a term sheet reviewed by Mint. The sale, estimated to be...
Nazara Technologies seeks to acquire Smaaash under IBC
Gaming firm Nazara Technologies seeks to acquire Smaaash Entertainment Pvt. Ltd through the insolvency and bankruptcy process, two people aware of the matter said. As part of the corporate insolvency resolution process...
Govt to sell 7% in NLC India via offer-for-sale, aims to raise ₹2,058 cr
The government will offload a 7% stake in state-run lignite producer NLC India through the offer-for-sale (OFS) route, which includes a green shoe option of 2%, a top official said on Wednesday. It would rake in about...
