A bankruptcy court has approved Jindal Saw’s application to acquire listed steel maker Sathavahana Ispat through the insolvency resolution process. Prithviraj Jindal- promoted Jindal Saw has proposed to pay ₹694...
Finquest’s offer for Ballarpur Industries gets NCLT nod
A bankruptcy court in Mumbai has approved Finquest Financial Solutions’ resolution plan for Ballarpur Industries (BILT), the flagship paper-manufacturing company of the Thapar Group that owes lenders more than `3,000...
CCI approves demerger of FMCG business of Haldiram Snacks and Haldiram Foods
The Competition Commission of India (CCI) has approved the demerger of the FMCG business of Haldiram Snacks and Haldiram Foods into Haldiram Snacks Food. The CCI also approved the acquisition of 56% and 44% shareholding...
GHCL completes demerger of its spinning business into GHCL Textiles
Chemicals major GHCL has completed the demerger of its spinning business into GHCL Textiles. The demerger became effective from April 1 and the new entity GHCL Textiles will be listed on NSE and BSE after receiving...
Parliament passes antitrust legislation on overseas mergers & acquisitions
India’s parliament approved a revised legislation which gives the South Asian nation’s antitrust watchdog wider powers to review overseas mergers and acquisitions. The legislation was approved by the upper house of...
Adani Ports & SEZ completes Rs 1,485 cr acquisition of Karaikal Port
Adani Ports and Special Economic Zone (APSEZ), the largest transport utility in India, has completed the acquisition of Karaikal Port Private (KPPL) pursuant to National Company Law Tribunal (NCLT) approval. Earlier...
Nirma Group acquires eye drop maker Stericon Pharma
The Nirma Group has acquired Bengaluru-based Stericon Pharma Pvt Ltd, a maker of eye drops and contact lens solutions. The financial details were not disclosed, but a statement on the private equity (PE) firm...
Aquapharm in talks to sell stake for ₹5k crore
Speciality chemicals firm Aquapharm Chemicals Pvt. Ltd is in talks with private equity (PE) investors to raise ₹5,000 crore through a stake sale, two people familiar with the development said. However, the company has...
Welspun acquires water tanks manufacturer Sintex for Rs 1251 crore
Welspun Group has acquired the plastic industry market leader Sintex for Rs Rs 1251 crore, the company said today. For decades Sintex has been a household name in India for water tanks and other plastic products having...
PhonePe calls off deal to acquire ZestMoney
After months of running due diligence, PhonePe, one of India’s leading fintechs and the biggest player in the UPI market, has turned on its heels and walked away from a potential deal with cash-strapped buy-now-pay...
Statkraft, first MNC to buy bankrupt Indian power firm
Europe’s largest renewable energy company Statkraft is set to become the first MNC player to buy an Indian power company under the insolvency and bankruptcy code (IBC) process after national company law tribunal (NCLT)...
IndusInd gets nod to withdraw ZEE insolvency process plea
A bankruptcy court on Thursday allowed IndusInd Bank’s application to withdraw insolvency proceedings against Zee Entertainment Enterprises (ZEE) after both parties decided to settle the dispute amicably. The...
