The Board of Directors of JHS Svendgaard Laboratories Limited announced merger of the company with private company Vedic Cosmeceuticals Private Limited. As acclaimed by the management, the product portfolio of Vedic...
NARCL finalises acquisition of two SREI companies
The National Asset Reconstruction Company (NARCL) has finalised the acquisition of the two SREI companies – SREI Equipment Finance and SREI Infrastructure Finance — under the Insolvency and Bankruptcy Code (IBC)...
L&T Finance announces completing merger of 3 subsidiaries with itself
L&T Finance Holdings (LTFH), a non-banking financial company (NBFC), announced it had completed the merger of three subsidiaries with itself for “superior governance” and growth. All lending businesses of the...
Adobe acquires Lightspeed-backed Indian generative AI startup Rephrase.ai
Adobe has acquired Bengaluru-based Rephrase.ai, which runs an artificial intelligence(AI)-powered video creation platform, per an internal memo circulated by the US software major. With the acquisition, Adobe will look...
NCLAT dismisses PNB’s plea against sale of Sterling Biotech to US-based Perfect Day
The National Company Law Appellate Tribunal has set aside the plea of a UK-based subsidiary of Punjab National Bank against the NCLT order, approving the sale of Sterling Biotech to US-based food technology startup...
WeWork files for bankruptcy; From $50 billion to zero in 5 years
Co-working space firm WeWork Inc. has filed for Chapter 11 bankruptcy in New Jersey, as per a Bloomberg report. On November 1, the Wall Street Journal reported that WeWork plans to file its Chapter 11 petition for...
Butterfly’s merger with parent Crompton Greaves fails to gain nod
The public disapproval pushed shares of Butterfly Gandhimathi by 7% before they closed at ₹1085.4 apiece on the NSE. Shares of Crompton Greaves too closed marginally lower at ₹282 apiece. Despite holding a 75% stake in...
Bankruptcy court approves Himadri-Dalmia plan for Birla Tyres
The bankruptcy court has approved the proposal from a consortium of Himadri Speciality Chemical and Dalmia Bharat Refractories to acquire Kolkata-based Birla Tyres. Lenders of Birla Tyres had earlier cleared the...
Tata Motors to acquire 27% stake in logistics startup Freight Tiger for Rs 150 crore
Tata Motors Ltd said it will buy a 26.79% stake in digital logistics solutions platform Freight Tiger for Rs 150 crore, with an additional investment of Rs 100 crore planned over the next two years. Freight Tiger...
JK Paper to acquire Manipal Utility Packaging Solutions for Rs 90 crore
JK Paper Ltd said it will fully acquire Manipal Utility Packaging Solutions Pvt Ltd for nearly Rs 90 crore. The company has entered into a share purchase agreement (SPA) for the acquisition of 100 per cent shares of...
NCLT okays Steel Strips Wheels’ acquisition of AMW Autocomponent
The National Company Law Tribunal (NCLT) has approved the acquisition of AMW Autocomponent by listed automotive wheels manufacturer Steel Strips Wheels. The company had admitted liability of over ₹1,675 crore, whereas...
Safestyle UK explores alternatives including sale
Safestyle UK confirmed it was exploring alternatives, including a potential sale of the company or a capital injection, as it deals with financial woes. The maker of polyvinyl chloride replacement windows said it has...