State Bank of India (SBI) Funds Management on Wednesday received the approval of the Reserve Bank of India (RBI) to acquire up to 9.99 per cent stake in HDFC Bank. HDFC Bank in an exchange filing said, “RBI vide...
Virgin Orbit enters $17 million ‘stalking horse’ bid to sell aircraft assets
Bankrupt satellite launch company Virgin Orbit said it entered into a “stalking horse” agreement with Stratolaunch to sell mainly its aircraft assets, including the “Cosmic Girl” carrier...
RBI evaluating potential bidders for majority stake in IDBI Bank: Report
The Reserve Bank of India (RBI) is currently assessing several potential bidders who have expressed interest in acquiring a majority stake in the government-owned IDBI Bank Ltd, according to three sources familiar with...
Branson’s Virgin Orbit files for bankruptcy after launch failure squeezed finances
Virgin Orbit Holdings Inc, founded by billionaire Richard Branson, filed for Chapter 11 bankruptcy protection on Tuesday after the satellite launching business struggled to secure long-term funding following a failed...
RBI approves merger of three L&T Finance Holdings units
L&T Finance Holdings Limited (LTFHL) said that the Reserve Bank of India has approved merger of its three subsidiary lending entities – L&T Finance Limited, L&T Infra Credit Limited and L&T Mutual...
RBI OKs Hinduja hiking IndusInd Bank stake
The Reserve Bank of India (RBI) has given in-principle and conditional approval to IndusInd International Holdings Ltd, a Hinduja Group entity, to raise its stake in IndusInd Bank to 26%, four people aware of the...
RBI gives conditional approval to Carlyle and Advent to acquire 9.99% stake each in Yes Bank
The Reserve Bank of India (RBI) has given conditional approval to private equity investors Carlyle Group and Advent to acquire 9.99% stake each in Yes Bank. Both private equity investors will infuse Rs 8,898.4 crore in...
Future Group’s plea for termination of arbitration proceedings rejected by Delhi HC
Future Group’s plea for termination of arbitration proceedings has been dismissed by the Delhi HC. The proceedings had been initiated by Amazon at the Singapore International Arbitration Court (SIAC). The...
Future Retail case: Amazon moves SC seeking restart of arbitration proceedings
In a new development in the tussle over Future Retail, Amazon has moved the Supreme Court for allowing arbitration proceedings to restart at the Singapore International Arbitration Centre (SIAC). Representing Amazon NV...
Bharat Forge unit Kalyani Powertrain forms JV with Harbinger Motors
Auto components major Bharat Forge said its unit Kalyani Powertrain has joined hands with US-based Harbinger Motors to form a joint venture focused on developing electric drivetrain solutions for the commercial vehicle...
RBI nod for Yes Bank stake sale likely by Nov, says CEO
Yes Bank Ltd is hoping to receive approval from the Reserve Bank of India (RBI) in the next two months for its proposed stake sale to infuse ₹8,898 crore, said chief executive Prashant Kumar. The regulator’s approval is...
RBI sets stage for government, LIC stake sale in IDBI Bank
Setting the stage for commencing the sale of government and LIC shares in IDBI Bank, RBI is willing to relax the cap on maximum shareholding, provided they submit a plan for phased reduction of equity. The banking...