The Cabinet Committee on Economic Affairs (CCEA) on Tuesday allowed state-owned power transmission company Power Grid Corporation of India (PGCIL) to monetise its assets by floating an Infrastructure Investment Trust...
KKR in advanced talks to invest $1 billion for stake in Reliance Retail
KKR & Co. is in advanced talks to invest at least $1 billion in the retail business of Indian billionaire Mukesh Ambani, according to people familiar with the matter, in what could be another U.S. investment in the...
French govt request that LVMH delay Tiffany deal was only advice: Report
A letter sent to luxury goods group LVMH by the French foreign ministry requesting it delay its $16 billion (12.32 billion pounds) purchase of U.S. jeweller Tiffany to early January was not binding, a French government...
With $500 mn funding led by Silver Lake, Byju’s valuation crosses $10.8 bn
Byju’s, an ed-tech company, has raised $500 million in a new round of funding from Silver Lake, the leading global technology investment firm, according to sources. Though the company confirmed the development, it...
BPCL privatisation: Govt rules on worker protection, asset stripping later
The government will provide guidance on employee protection, asset stripping and business continuity in Bharat Petroleum Corp Ltd (BPCL) to potential acquirers of the company only at a later stage of bidding, according...
Govt plans to sell 15-20% stake in IRCTC via OFS in at least 3 tranches
The government plans to sell about 15-20 per cent stake in IRCTC via offer for sale (OFS) and would like to complete the transaction in minimum number of tranches. Last month, the Department of Investment and Public...
Voda Idea to seek shareholders’ nod to raise borrowing limit to Rs 1 trn
Debt-ridden telecom operator Vodafone Idea on Monday said it will seek shareholders’ approval to raise the borrowing limit to Rs 1 trillion, at the annual general meeting (AGM) scheduled to be held on September 30...
Panel moots merger of UP co-operative banks to create Rs 35,000 cr entity
Amid the ongoing process of consolidation in the domestic public sector banking space, an expert panel has suggested the creation of a single state-controlled lender in Uttar Pradesh by merging all the co-operative...
Infosys to acquire US-based firm Kaleidoscope Innovation for $42 million
IT services firm Infosys is set to acquire Kaleidoscope Innovation, a product design and development firm that operates in medical, consumer and industrial markets. Infosys will pay $42 million for acquiring 100 per...
IL&FS to file bankruptcy for its offshore firms IIDL, IIDMCC in UAE
Debt-ridden IL&FS has proposed to initiate bankruptcy proceedings for two of its offshore firms – ITNL Infrastructure Developers LLC (IIDL) and ITNL International DMCC (IIDMCC) – in the courts of the UAE...
Beer market may see acquisitions, entry of new players despite Covid: UBL
United Breweries Ltd (UBL), which owns the popular Kingfisher brand of beer, is expecting further acquisitions and entry of new players in the Indian beer market, despite disruptions due to COVID-19 and higher taxes by...
Why does EU care about London Stock Exchange’s acquisition of Refinitiv?
Relations between London and Brussels have been better. While Brexit dominates the headlines, another cross-channel development has recently captured the attention of financial institutions. It concerns the London Stock...
