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...
Investors to decide on demerger of RIL’s finserv arm
Reliance Industries Ltd has initiated the process for the demerger of its financial services business and will hold a meeting of secured and unsecured creditors, and shareholders on 2 May to get the mandatory approvals...
Tilaknagar Industries to buy 10% in Samsara Gin maker
Alcoholic beverages maker, Tilaknagar Industries Limited (TI) said it has agreed to buy 10% stake in Spaceman Spirits Lab (SSLPL) for Rs9.75 crore. The investment, in two tranches, will be through a combination of...
Statkraft’s resolution for Lanco Mandakini gets NCLT nod
An Indian bankruptcy court has approved Europe’s largest renewable energy company Statkraft’s resolution plan for Lanco Mandakini Hydro Energy. Lenders including Punjab National Bank, Canara Bank, Bank of...
GoMechanic acquired by consortium led by Lifelong Group
Distressed car services platform GoMechanic, whose founders admitted to financial irregularities in January, has been sold to a consortium led by Delhi-based auto components manufacturer Lifelong India Pvt Ltd. Lifelong...
Reliance Industries completes Sintex Textiles acquisition
Mukesh Ambani-promoted Reliance Industries, India’s biggest company by market value, has completed its Rs 3,567-crore acquisition of textile company Sintex Industries exactly a year after banks had approved the...
Embassy REIT Acquires Embassy Business Hub in Bengaluru for Rs 334.8 crore
Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, has agreed to acquire Embassy Business Hub, a 1.4 million square feet (‘msf’) office property in Bengaluru, for a total...
Digital lending platform LoanTap acquires Unofin
Digital lending platform LoanTap said it has acquired Unofin, a healthcare-focused fintech startup, for an undisclosed sum. With this acquisition, LoanTap aims to leverage Unofin’s expertise in healthcare...
JSW Neo to acquire 12 SPVs of Mytrah Energy
JSW Energy on Tuesday said its subsidiary has agreed to acquire entire equity of 12 special purpose vehicles of Mytrah Energy (India) Pvt Ltd (MEIPL). In August 2022, JSW Neo Energy Ltd (JSWNEL) agreed to acquire a...
D2C Ecommerce Acquires Leading Lifestyle Electronics Brand HiLife from Hungama
D2C Ecommerce, a homegrown multi-D2C brand online platform has acquired leading lifestyle electronics brand ‘HiLife from Hungama’. Through this acquisition, D2C Ecommerce will expand its offerings in the electronics...
