Goldman Sachs Group, PremjiInvest and the family office of Sunil Kant Munjal are in advanced talks to invest in PNB Housing Finance Ltd, said two people directly aware of the discussions. PNB Housing is looking to raise...
Patanjali to infuse Rs 3,438 crore in Ruchi Soya to settle dues
Baba Ramdev-led Patanjali Ayurved, which got the NCLT approval last week to acquire Ruchi Soya in an insolvency process, will infuse over Rs 3,438 crore as equity and debt to settle dues of creditors of the debt-laden...
NCLT approves Patanjali’s resolution plan for debt-ridden Ruchi Soya
The National Company Law Tribunal has approved the resolution plan submitted by Yoga guru Ramdev-led Patanjali for the debt-ridden Ruchi Soya. A two-member Mumbai NCLT bench, comprising Rajesh Sharma and V P Singh...
Pawan Munjal to plug into Ola Electric
Pawan Munjal might be the next big investor after Ratan Tata to invest in Ola Electric. Billionaire Pawan Munjal, chairman of Hero MotoCorp Ltd—India’s largest two-wheeler maker by sales—is in advanced talks to invest...
Patanjali gets control of Ruchi Soya for Rs 4,350 crore
After a protracted battle, the NCLT Thursday finally cleared the Rs 4,350-crore bid by yoga- exponent Ramdev-run Patanjali Ayurved to take over edible oil player Ruchi Soya, which owes over Rs 9,345 crore to the lenders...
Lemon Tree Hotels will divest 49% stake in 2 years, says Patanjali Keswani
Lemon Tree Hotels, which has been in a capital deployment phase to expand operations and create assets, will start scouting for buyers to divest minority stake after fiscal 2021-22, Patanjali Keswani, chairman and...
Patanjali seeks PSU bank funds for Ruchi Soya buy
Patanjali Ayurveda has approached state-run banks to help fund its Rs 4,350 crore acquisition of Ruchi Soya Industries NSE 1.96 %, said people with knowledge of the matter. The company is looking to raise debt with a...
DBS wants a higher share in Patanjali’s offer to settle Ruchi Soya dues
DBS Bank has told the NCLT on Tuesday that it wants a higher share in the amount that Patanjali is offering to settle banks’ dues for the distressed Ruchi SoyaNSE -5.00 %. The bank has said that it has an exclusive...
Lenders approve Patanjali’s Rs 4,325 cr bid for Ruchi Soya
In its first major acquisition, Yoga guru Baba Ramdev-led Patanjali Ayurved walked away with debt-ridden edible oil firm Ruchi Soya NSE 3.47 % with a bid of Rs 4,325 crore, sources said. Patanjali acquired Ruchi Soya...
Ruchi Soya insolvency: Lenders to meet Friday to consider Patanjali’s revised offer
Lenders of debt-ridden Ruchi Soya NSE 2.19 % will meet Friday to consider the revised bid of Baba Ramdev’s Patanjali Ayurved to acquire Madhya Pradesh-based edible oil firm, according to sources. Patanjali had...
Gitanjali Gems headed for liquidation
Gitanjali Gems, a BSE listed jewellery retailer promoted by absconding businessman Mehul Choksi, is headed for liquidation after most of its lenders decided not to extend a 180-day deadline to complete its corporate...
Patanjali moves closer to acquisition of Ruchi Soya
Patanjali Ayurved’s proposed acquisition of Ruchi SoyaNSE 6.25 % has reached the final stages with the Committee of Creditors (CoC) meeting on Tuesday to clear the proposed deal, two officials directly aware of the...