Lenders of Vidarbha Industries Power will hold a Swiss challenge auction on August 8 among the three shortlisted asset reconstruction companies (ARCs), said people aware of the development. Lenders have shortlisted...
Ambuja-ACC and JK Lakshmi Cement lead race for Sanghi Cement acquisition
Adani group-owned Ambuja-ACC and JK Lakshmi Cement are currently leading the race to acquire Ahmedabad-based Sanghi Cement, which is up for sale with an estimated enterprise value of Rs 6,000 crore according to a report...
AirAsia seeks early merger with AI Express
AirAsia India has sought approvals from Directorate General of Civil Aviation (DGCA) to expedite its integration with Air India Express, including a rebranding from AirAsia India to AI Express, three people familiar...
Adani group’s Ambuja-ACC, JK Lakshmi lead race to acquire Sanghi Cement
Adani group-owned Ambuja-ACC and JK Lakshmi Cement are ahead in the race to acquire Ahmedabad-based Sanghi Cement which is being sold for an estimated enterprise value of Rs 6,000 crore, people familiar with the matter...
Ramkrishna Forgings acquires Multitech Auto, Mal Metalliks for Rs 205 crore
Ramkrishna Forgings Ltd said it has acquired Multitech Auto Private Ltd and its wholly-owned subsidiary Mal Metalliks Private Limited for Rs 205 crore. Multitech Auto and Mal Metalliks manufacture various parts for...
Bandhan Financial Holdings to acquire Aegon Life Insurance
Bandhan Financial Holdings (BFHL) has entered into an agreement to acquire the entire stake of Aegon and Bennett, Coleman & Co. Ltd (BCCL) in Aegon Life Insurance. The insurance buyout will allow Kolkata-based...
ITC board gives in-principle nod for demerger of hotels business
ITC Ltd. board has given in-principle approval for the demerger of its hotels business and to incorporate a wholly owned subsidiary called ITC Hotels. “After due consideration, the Board accorded its in-principle...
Coffee Day Global now in bankruptcy process
Coffee Day Global, which operates the Cafe Coffee Day chain across India, was admitted for corporate insolvency by the Bengaluru bench of the bankruptcy court last week, said people aware of the development. The...
Novopay to spin off retail biz, focus on banking software
Khosla Ventures-backed Novopay Solutions Pvt. Ltd is in the process of demerging its retail business. The company will now only house its banking software business, which was recently rebranded as ‘Trustt’, chairman...
India resurgence fund in talks to acquire Ind-Swift’s API business
India Resurgence Fund (IndiaRF), an India-focused distressed and special situations investment platform sponsored by the Piramal group and Bain Capital Credit, is in talks to acquire the active pharmaceutical...
Radhakishan Damani buys Health & Glow for ₹750 cr
Radhakishan Damani, billionaire investor and founder of Avenue Supermarts that runs the D-Mart chain, has acquired Health and Glow, a Bangalore-based beauty and personal care retail chain from the family offices of...
Jindal Stainless acquires remaining 74 pc stake in JUSL for Rs 958 crore
Jindal Stainless said it has acquired the remaining 74 per cent stake in Odisha-based Jindal United Steel Limited for Rs 958 crore. Jindal United Steel Limited (JUSL) has become a 100 per cent owned subsidiary of JSL...
