Maruti Suzuki India on Saturday said its shareholders have approved the proposal to issue shares on a preferential basis to Suzuki Motor Corporation (SMC) as consideration for a related party transaction for the...
IDBI Bank ropes in EY to sell ₹4,000 cr distressed debt
IDBI Bank has hired EY India as the process adviser to find buyers for its ₹4,000 crore distressed debt portfolio that resides under the Stressed Assets Stabilisation Fund (SASF), said people with knowledge of the bank...
Adani Unit, ArcelorMittal, JSW in race to buy Vadraj Cement
An Adani group entity, Sajjan Jindal-owned JSW Cement, and ArcelorMittal Group are likely contenders to buy Vadraj Cement, an ABG Shipyard group company that will be sold under the Insolvency and Bankruptcy Code...
AstraZeneca Pharma India plans to sell Bengaluru plant
AstraZeneca Pharma India plans to sell its production facility in Bengaluru as part of a strategic review of the global manufacturing and supply network by its parent, according to a regulatory filing. The company...
IDBI Bank stake sale may not be completed by March 2024: Govt official
The stake sale in IDBI Bank may not be completed by March 2024, a senior government official said. Department of Investment and Public Asset Monetisation (DIPAM) Secretary Tuhin Kanta Pandey said the transaction is...
NCLAT to hear pleas challenging Birla Tyres resolution plan next week
The National Company Law Appellate Tribunal (NCLAT) will hear two separate pleas involving the resolution plan of Birla Tyres next week. One of the pleas, filed by HDFC Bank challenging the joint resolution plan of...
Small finance banks thinking big likely to switch on the M&A mode
More small finance banks, that began operations less than a decade ago, may explore mergers either with competitors, non-bank lenders or financial technology companies as they look to achieve economies of scale faster...
Agritech DeHaat acquires Freshtrop Fruits’ export business for $9 million
Agritech startup DeHaat is acquiring Freshtrop Fruits’ export business for Rs 77 crore (about $9.3 million), as per a regulatory filing. The deal, announced on Tuesday, also entails Freshtrop Fruits’ export vertical...
Mediatech startup Amagi signs pact to acquire cloud-based video platform Tellyo
Media technology startup Amagi said that it has signed a definitive agreement to acquire cloud-based remote video production platform Tellyo for an undisclosed amount. The acquisition will help Amagi enhance its video...
Adhesive maker Pidilite to enter lending business, to acquire promoter group’s NBFC firm
Adhesive and construction chemicals manufacturer Pidilite Industries plans to enter the lending business, providing small-value retail loans. To facilitate this, Pidilite Industries would acquire an existing NBFC...
Real sports gaming platform Game Theory acquires sports analytics startup Matchday
Rainmatter-backed real sports gaming platform Game Theory has acquired sports analytics startup Matchday.ai. Details of the acquisition, which is effective October 28, were not disclosed. With the Matchday acquisition...
Future Retail RP files for liquidation in NCLT
The resolution professional (RP) of Future Retail Ltd (FRL) filed for liquidation, marking an inglorious end for the company that once led India’s retail revolution. On 30 September, creditors had rejected a resolution...
