Five bidders have expressed interest in taking over the debt-laden Surat-based textile company Sumeet Industries. These bidders are UP-based Bhola Ram Papers & Power, Bhilosa Industries and Bhumi Tex Industries of...
CCI approves acquisition of stake by mortgage lender HDFC in 2 insurers
Competition watchdog CCI on Tuesday granted its approval to mortgage lender HDFC to acquire a certain stake in HDFC Life Insurance Company and HDFC ERGO General Insurance Company Ltd. These approvals will help pave the...
Securities Appellate Tribunal adjourns ZEEL promoters’ plea to June 26
The Securities Appellate Tribunal (SAT) will hear on June 26 the plea of Zee Entertainment Enterprises Limited Chairman emeritus Subhash Chandra and his son and MD Punit Goenka to set aside the Securities & Exchange...
Reliance Power makes a higher offer to lenders for Vidarbha Industries
Anil Ambani-promoted Reliance Power has made a revised and improved debt-settlement offer of `1,260 crore to the lenders of its Vidarbha Industries Power subsidiary, said people aware of the development. Reliance Power...
Adani Enterprises to buy train booking platform Trainman
Adani Enterprise will soon be selling online train tickets. Adani Enterprises declared its intentions on Friday and informed Indian stock market bourses that it has signed a share purchase agreement for acquisition of...
NCLT approves Ace Infracity resolution plan for 3C Homes
The NCLT has approved the resolution plan by Ace Infracity Developers for the debt-ridden 3C Homes. The NCLT bench observed the resolution plan submitted by Ace Infracity Developers has been approved by the Committee of...
Kedaara in talks with Yes Bank for sale of Spandana Sphoorty
Private equity investor Kedaara Capital, the biggest shareholder of microfinance lender Spandana Sphoorty Financial, has revived plans to sell off the company and has been in discussions with Yes Bank to explore an...
KKR unit plans to buy road assets from PNC for $1 billion
KKR’s roads platform Highways Infrastructure Trust is in talks to acquire a portfolio of 12 road projects from Agra-based construction firm PNC Infratech for an enterprise value of about ₹9,000 crore (about $1.1...
PNB, LIC, SBI & BoB look to seek bids for UTI AMC stake, Tata Group expected to put in a fresh bid
Four state-owned financial entities – Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda – that together own just over 45% of UTI Asset Management Company...
Inox Wind Energy soars 19% on board’s nod for merger with Inox Wind
Shares of Inox Wind Energy rallied 19 per cent to hit a record high of Rs 2,150, while Inox Wind slipped 5 per cent to Rs 138.50 after the board approved merger with Inox Wind Energy. Inox Wind, India’s leading wind...
O2 may buy Jakson’s green power assets
EQT- and Temasek-backed O2 Power is in talks with Jakson Group to purchase 120 MW of solar power assets of Jakson Group at an equity value of ₹130 crore, said two people aware of the development. The enterprise value of...
NCLT adjourns the Wilmington Trust insolvency plea against SpiceJet
The National Company Law Tribunal, in the petition filed by aircraft lessor Wilmington Trust SP Services (Dublin) Ltd for initiating the corporate insolvency resolution process, adjourned the matter on Monday. The...
