The government has extended the deadline to bid for Air India by two months till June 30, as the Covid-19 fallout has disrupted economic activity globally. This is the second extension in the deadline to submit bids by...
Piramal, Tata Motors, Coastal Gujarat to issue NCDs to raise Rs 5,700 crore
Piramal Enterprises and two Tata group entities, Tata Motors and and Coastal Gujarat Power, are planning to raise over Rs 5,700 crore through debentures. This is by taking benefit of cheaper funds available for better...
Bharti Infratel, Indus have the right to end proposed merger: Akhil Gupta
Bharti Infratel on Friday said the company and Indus Towers, which had extended their merger deadline to June 24, were well within their rights to terminate the contract if the need arises. In a post-earnings conference...
India Inc gets IBC breather for six months amid coronavirus outbreak
The government has decided to suspend insolvency and bankruptcy proceedings for at least six months owing to challenges businesses are facing due to the Covid-19 pandemic, a senior government official told Business...
Ashok Leyland acquires 3.36% share in Hinduja Leyland Finance
Hinduja Group flagship Ashok Leyland Ltd has acquired 15,796,406 shares of Rs 10 each constituting 3.36 per cent of the equity of its subsidiary Hinduja Leyland Finance Ltd for Rs 187.97 crore. The acquisition is part...
Abu Dhabi Sheikh acquires 20% stake in Grocer LuLu, invests $1 billion
An investment firm backed by a member of Abu Dhabi’s royal family agreed to buy a stake worth just over $1 billion in LuLu Group International, which runs one of the West Asia’s largest hypermarket chains, according to...
Reliance Jio connects with Facebook for $5.7-billion equity deal
Facebook and Reliance Jio hit the headlines early Wednesday morning, in a break from the daily lockdown news. Mark Zuckerberg announced in a Facebook post that the technology giant will acquire a 9.99 per cent stake in...
Facebook to invest $5.7 bn in RIL’s Jio Platforms to pick up 9.99% stake
Facebook on Wednesday announced investment of Rs 43,574 crore to pick a 9.9 per cent stake in Reliance Industries Limited’s wholly-owned subsidiary, Jio Platforms, in what is being touted as the largest foreign...
Covid-19 pandemic takes toll on global M&A as $1 billion deals disappear
For the first time since September 2004, no merger and acquisition deal worth more than $1 billion was announced worldwide last week, according to data provider Refinitiv, as the new coronavirus stifles global M&A...
European EPC major A&M Group enters India in JV with Oberoi Group
Leading European infra player A&M Development Group has inked a joint venture with the Delhi-based engineering and construction player Oberoi Group to enter the country. The joint venture Oberoi-A&M Infra...
Bharat Petroleum divestment process begins amid coronavirus lockdown
Despite the Covid-19 lockdown, the central government is keeping the ball rolling for divestment of its stake in Bharat Petroleum Corporation (BPCL). The Assam government has given a no-objection certificate (NOC) for...
Suzlon board okays proposals to restructure outstanding debt, bonds dues
Suzlon Energy on Saturday said its board has approved various proposals to facilitate debt and bond restructuring. Recently, the company got approval from lenders as well as bondholders to restructure outstanding debt...
