Adani Group’s billionaire founder Gautam Adani has decided against bidding for a stake in electricity trader PTC India Ltd as the beleaguered conglomerate looks to conserve cash amid a short seller attack...
RIL, NTPC, Torrent and Vantage seen leading race for SKS Power
The race to buy the debt-laden SKS Power Generation has narrowed down to just four bidders – Reliance Industries, public-sector utility NTPC, Gujarat-based Torrent Power and Singapore-based Vantage Point Asset...
Sun Pharma acquires 26.09% stake in Agatsa Software, 27.39% in Remidio Innovative Solutions
Drug major Sun Pharma has announced that it has acquired a 26.09% stake in Agatsa Software Private Limited, which is in an early-stage digital diagnostic devices company, for ₹30 crore in two tranches. The acquisition...
NCLT approves Reliance Industries, ACRE joint bid to acquire Sintex Industries
Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) have secured approval for their joint bid to acquire debt-ridden textiles maker Sintex Industries from the National Company Law Tribunal (NCLT)...
India opposes Vedanta’s $3 bln zinc assets sale, threatening debt-cut plans
Vedanta Resources’ efforts to manage its debt load were dealt a blow after the Indian government opposed the mining conglomerate’s proposed $2.98 billion deal to move certain zinc assets from its flagship...
Hindustan Zinc to get in touch with mines ministry for resolution on acquisition of Vedanta’s overseas assets
Hindustan Zinc is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd, Hindustan Zinc CEO Arun Misra said. Valuation of the...
Adani Power calls off acquisition of DB Power
Adani Power has called off the acquisition of DB Power for Rs 7,017 crore after missing the latest deadline to complete the transaction, which expired on Wednesday. “We wish to inform that the long stop date under...
Minda Corp, Pricol surge up to 6% amid stake sale buzz
Shares of Minda Corporation (Rs 226.15) and Pricol (Rs 219) surged up to 6 per cent on the BSE in Friday’s intra-day trade amid reports that Minda Corporation plans to buy around 15.7 per cent stake in Pricol for Rs 400...
Jammu and Kashmir Bank likely to sell Rs 303 crore KSK Mahanadi Power debt to ASREC
Jammu and Kashmir Bank is likely to sell its ₹303 crore KSK Mahanadi Power debt to ASREC (India) Pvt Ltd, an asset reconstruction company, said two people aware of the development. An offer of ₹122.6 crore by the ARC to...
CCI clears acquisition of certain assets of Jaiprakash Associates by Dalmia Cement(Bharat)
The Competition Commission of India on Wednesday approved the acquisition of certain assets of Jaiprakash Associates Ltd and its associate by Dalmia Cement (Bharat) Ltd. The proposed combination relating to acquisition...
Government may delist MTNL to merge with BSNL
The government is looking into the process of delisting state-run telecom carrier Mahanagar Telephone Nigam Limited (MTNL) ahead of the merger with another state telecom firm Bharat Sanchar Nigam Limited (BSNL). “The...
Adani Power’s deal to acquire DB Power expires
Billionaire Gautam Adani-Adani Power’s planned ₹7,017-crore acquisition of thermal power assets of DB Power Ltd has collapsed as the deadline to complete the transaction expired. The agreement to acquire the...
