Non-bank lenders JM Financial and Indostar announced that they are in “preliminary discussions” to merge their respective mortgage verticals into a single entity. The entity created with the merging of the...
LTI Mindtree, LTTS consolidate realty assets
Technology firms LTI Mindtree and L&T Technology Services (LTTS) are consolidating their real estate portfolio across Chennai amidst cost-cutting and hybrid work models implemented across sectors. LTI Mindtree has...
A dozen foreign and local entities express interest in Rolta insolvency
A dozen entities, including Silver Stallion of Mauritius, FPI Opportunities Fund of Singapore and listed companies C.E. Info Systems and 3i Infotech India, have shown interest in acquiring bankrupt defence-focused...
Govt may not sell entire HZL stake after investors’ nudge
The Centre may opt to retain a part of its remaining stake in Hindustan Zinc Ltd (HZL) for an extended period, instead of divesting its entire stake, as the potential investors have expressed their preference for the...
Reliance Industries to withdraw merger of new energy business with itself
Reliance Industries on Saturday said the company’s board has withdrawn the proposal to merge subsidiary Reliance New Energy Limited (RNEL) with it, and RNEL will undertake the conglomerate’s renewable energy...
HDFC merger gets partial rule waiver
The Reserve Bank of India (RBI) has granted HDFC Bank several exemptions to smoothen its merger with Housing Development Finance Corp., but none on the critical reserve and liquidity ratios: the combined entity must...
Adani’s acquisition of Air Works delayed
Adani Group’s proposed acquisition of maintenance, repair and overhaul (MRO) company Air Works has got delayed after a major shareholder in the target entity was forced into liquidation. Sources told ET that a...
Reliance Retail enters into partnership with Maliban, acquires Raskik and Toffeeman
Reliance Retail, the country’s leading retailer, has added beverage brand Raskik and candy brand Toffeeman to its portfolio through acquisition as part of its expansion drive into the FMCG segment. Besides, the...
Megha Engineering acquires KPSI transmission project from RECPDCL
REC Power Development and Consultancy Limited (RECPDCL), a subsidiary of state-owned REC Limited, has transferred the KPS1 Transmission Ltd project-specific Special Purpose Vehicle (SPV) to Megha Engineering &...
Vedanta encumbers stake in HZL to raise Rs 1,500 cr in loans
Anil Agarwal-led resources conglomerate Vedanta has encumbered a part of its stake in Hindustan Zinc (HZL) to raise Rs 1,500 crore in loans against those shares at more than 50% margin to their market value, Vedanta...
Fortis acquires Gurugram-based Medeor Hospital for Rs 225 crore
Fortis Healthcare said it has signed definitive agreements with the VPS Group for the acquisition of its Medeor Hospital in Manesar, Gurugram for Rs 225 crore. The hospital has a potential bed capacity of 350 beds and...
CCI clears Berhyanda’s acquisition of Suven Pharma
The Competition Commission of India (CCI) has approved Berhyanda Ltd’s acquisition of up to 76.10% in Suven Pharmaceuticals. The acquisition is “by way of a share purchase agreement of December 26, 2022 and pursuant to...
