Food delivery firm Zomato has raised Rs 184 crore from existing investor Foodie Bay Employees ESOP Trust. The infusion happened through Foodie Bay’s trustee Akriti Chopra, also the chief financial officer of Zomato, by...
Kerala bid was 20% below Adani’s for Thiruvananthapuram airport: Puri
Union Civil Aviation Minister Hardeep S Puri on Friday hit back at the Kerala government for objecting to the Centre’s decision to privatise Thiruvananthapuram airport. He said Kerala’s bid was 20 per cent lower than...
In share swap deal, ICICI Lombard to acquire Bharti AXA General Insurance
In a share swap deal, non-life insurer ICICI Lombard General Insurance Company will acquire the business of Bharti AXA General Insurance Company Ltd. In a regulatory filing late Friday, ICICI Lombard said the boards of...
Siemens’ acquisition of C&S Electric India operations gets CCI approval
Fair trade regulator Competition Commission of India (CCI) on Thursday said it approved the proposed acquisition of C&S Electric by Siemens. As per a statement issued by Siemens in January, it had inked an agreement...
GMM Pfaudler surges 8% on acquiring majority stake in parent firm
Shares of GMM Pfaudler rose as much as 8.18 per cent to Rs 6,360 on the BSE on Friday after the process equipment manufacturer acquired a 54 per cent stake in its parent firm Pfaudler Group for a consideration of around...
AGR case: Liquidation the only option without spectrum sale, RCom tells SC
Reliance Communications told the Supreme Court on Wednesday that it will be forced to go into liquidation if the spectrum is not allowed to be sold under the insolvency process. Senior advocate Harish Salve, who...
Tata Power looks to use preference share, divestment proceeds to cut debt
After its decision to merge the Mundra subsidiary with itself, Tata Power looks to use preference share and divestment proceeds of Rs 4,000 crore to reduce the unit’s debt. In an investor presentation on Tuesday, Tata...
Vedanta raises $1.4 bn via bonds to fund delisting of Indian flagship firm
Vedanta Resources Ltd on Thursday said it has raised $1.4 billion (around Rs 10,500 crore) via bonds, which would be primarily used to fund the delisting of its Indian flagship firm. “Vedanta Resources Ltd (VRL)...
Maruti Suzuki ties up with start-up hub in IIM-B for mobility solutions
Maruti Suzuki India (MSI) on Thursday said it has joined hands with the startup hub and incubation centre at the Indian Institute of Management, Bangalore (IIMB) to spearhead innovations in the mobility space. The...
Emami may sell land, non-core assets to bring down promoter pledging
Promoters of Emami may look at selling land parcels and non-core assets as part of their deleveraging plan. Promoter pledge in Emami has reduced to below 55 per cent, from a high of 90 per cent, after sale of its cement...
L&T Finance sells its remaining stake in CG Power and Industrial Solutions
L&T Finance Ltd has divested its entire equity stake of 9.99 per cent in CG Power and Industrial Solutions through open market transactions. L&T Finance has “sold (in open market) 6.26 crore shares of CG...
Tata Power to explore M&A opportunities in renewable energy space
Tata Power, which plans to launch its renewable energy InvIT this fiscal, said it will also explore merger and acquisition opportunities to strengthen its position in this space. According to an analyst presentation by...
