EbixCash, a subsidiary of Ebix Inc which provides on-demand software and e-commerce services to insurance, financial, healthcare and e-learning industries, has acquired 70 per cent stake in BPO company AssureEdge Global...
CPI objects to LVB merger with DBS Bank, asks what’s the tearing hurry
Communist Party of India (CPI) General Secretary D Raja today voiced his opinion against proposed Lakshmi Vilas Bank (LVB) merger with DBS Bank India. “Why (there is) such a hurry is not clear to anyone. The government...
Bahrain’s Investcorp invests in Indian logistics start-up Xpressbees
Bahrain’s Investcorp said on Sunday it has made an investment in Xpressbees, an Indian logistics startup, as part of a consortium of local and global investors. Xpressbees has a presence in more than 2,000 towns...
Union Bank board to consider seeking shareholders’ nod for raising funds
The Board of Directors of Union Bank of India will meet on Wednesday, November 25 to consider seeking shareholders’ approval for raising capital by several modes. The bank intends to raise funds through various...
Punjab & Sind Bank to raise up to Rs 5,500 cr through preferential issue
State-owned Punjab & Sind Bank on Saturday said its board has approved a proposal to raise up to Rs 5,500 crore by issuing shares on a preferential basis. The board approval is in line with the government sanction...
Coffee Day Enterprises to sell 85.53% stake in Way2Wealth to Shriram Credit
Coffee Day Enterprises Ltd (CDEL) on Friday said that it has entered into a share purchase agreement with Shriram Credit Company Limited as a part of which the latter would acquire 85.53 per cent in its subsidiary...
Bharti Airtel to acquire 5.2% stake in Avaada MHBuldhana for Rs 4.55 cr
Bharti Airtel on Friday said it will acquire 5.2 per cent stake in solar power company Avaada MHBuldhana for Rs 4.55 crore in an all-cash deal. Avaada MHBuldhana Private Limited is a newly-formed company and developing...
Lakshmi Vilas Bank resolution: RBI delays final merger scheme to next week
The Reserve Bank did not issue the final merger scheme for Lakshmi Vilas Bank(LVB) with DBS India on Friday as stated earlier and is likely to do so only next week, according to a central bank official. While placing...
Apollo Hospitals scouting for acquisitions in north and east India
After acquiring IHH Healthcare (IHH’s) stake in Apollo Gleneagles Hospitals, Kolkata (AGHL), Chennai-based Apollo Hospitals is now scouting for some more acquisitions in north and east India. The hospital chain recently...
IBBI allows transfer of illiquid assets and debt for quicker case closure
The insolvency and bankruptcy board of India (IBBI) has notified the rules allowing a liquidator to assign not readily realisable assets or illiquid assets to third parties in order to facilitate quick closure of...
T Rowe Price signs agreement to acquire majority stake in UTI Trustee
Global investment management firm T Rowe Price has entered an agreement to get majority stake in the trustee of UTI Asset Management Company. The deal will give it over 51 per cent stake in UTI Trustee Company even as...
JSW Infra completes acquisition of Chettinad Group’s port biz for Rs 1K cr
JSW Infrastructure has completed the acquisition of Chettinad Group’s port business for around Rs 1,000 crore. This acquisition allows JSW Infrastructure ownership and operational control of a deep draft international...
