Prithvi Raj Jindal’s holding company, Siddeshwari Tradex, raised a Rs 500 crore debt facility from an Edelweiss-promoted finance company and an Edelweiss-managed fund to finance the acquisition of bankrupt Sathavahana...
RIL team among five bidders in race for bankrupt Sintex Industries
Reliance Industries Ltd, in partnership with Ares SSG Capital backed Assets Care & Reconstruction Enterprises Ltd, a Welspun Group company called Easygo Textiles Pvt Ltd and Trident Ltd are among the five bidders...
Bankrupt Sintex next on Mukesh Ambani’s list? Reliance-ACRE submits EoI
Reliance Industries Ltd, in partnership with Assets Care & Reconstruction Enterprise Ltd (ACRE), Varde Capital-backed Aditya Birla Asset Reconstruction Company, a Welspun Group entity and foreign fund CarVal...
Twists in Sony-ZEE Merger saga; Invesco stands firm over removal of Punit Goenka
Invesco, the largest investor Zee Entertainment Enterprises(ZEE), reiterated its call for an extraordinary general meeting (EGM) to discuss the ouster of three directors and the inclusion of six independent board...
Thailand’s GPSC buys 42% in Avaada Energy for Rs 33.88 billion
Thailand based utility-Global Power Synergy Public Company (GPSC) has acquired 41.6% stake in India’s green energy company Avaada Energy Private for Thai Baht 14.82 billion (Rs 33.88 billion). GPSC’s subsidiary Global...
NCLT admits insolvency petition against textile company Sintex Industries
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted an insolvency petition against textile company Sintex Industries after it failed to pay more than Rs 7000 crore to a group of creditors led by...
JC Flowers ARC emerges top bidder for Sathavahana debt at Rs 410 crore
JC Flowers Asset Reconstruction (ARC) has emerged as the highest bidder for acquiring the debt of Hyderabad-based steel company Sathavahana Ispat at Rs 410 crore, said a person with direct knowledge of the development...
Tatas call off renewable power deal with Petronas
After year-long negotiations, the Tatas have terminated their near $2- billion investment deal with Malaysian state-owned oil and gas company Petroliam Nasional Bhd (Petronas) in Tata Power’s proposed renewable energy...
Apollo Global, I Squared Capital rival Vedanta for buying stake in BPCL
Vedanta, Apollo Global, and I Squared Capital have responded to the Centre’s decision to shed its controlling stake in Bharat Petroleum Corporation (BPCL). Vedanta currently holds a controlling stake in Cairn Oil &...
Petronas eyes stake in Tata Power’s InvIT
Malaysian state oil and gas company Petroliam Nasional Bhd (Petronas) is in active negotiations with the Tata Group to become a key investor in Tata Power’s planned renewable energy infrastructure investment trust...
Adani’s Rs 400 crore bid for posh Aditya Estates in Delhi gets NCLT approval
Business conglomerate Adani group has won a bid to acquire Aditya Estates Pvt Ltd, which holds a posh 3.4 acre residential property near Mandi House in the heart of the national capital, through an insolvency process...
DHFL receives interest from at least 15 bidders
At least 15 suitors have shown interest in acquiring troubled mortgage financier Dewan Housing Finance Corp. Ltd (DHFL) under the bankruptcy process before the deadline for submission of expressions of interest (EoIs)...