The promoters of Parag Milk Foods plan to purchase another 4.2 million shares from the open market in the next few quarters. This will increase their stake in the firm to 51 per cent in the next few months. As of...
CreditAccess Grameen to acquire Madura Micro Finance for Rs 876 crore
Microfinance institution CreditAccess Grameen (CAGL) on Wednesday said it will acquire 100 per cent stake in Chennai-based Madura Micro Finance (MMFL) in a two-step process for Rs 876 crore. In the first leg, Bengaluru...
TPG Growth leads $33 million investment in Ess Kay Fincorp
TPG Growth, a mid-market and growth equity platform of alternative asset firm TPG, Norwest Venture Partners, a multi-stage growth investment fund and Evolvence India, a leading India focused Private Equity platform...
Lenders take forward their resolution plan for McLeod Russel outside NCLT
Taking forward their plan to formulate a resolution plan for McLeod Russel outside the scope of NCLT, the company’s lenders, led by ICICI Bank, which has the largest exposure, have appointed LSI Financial Services...
Airtel acquihires Quikmile to boost Airtel X innovation labs portfolio
Telecom company Bharti Airtel on Monday announced the ‘acquihire’ of Gurgaon based Quikmile, a start-up focused on building tech-enabled logistics platforms for India. The company did not disclose the size...
M&A in auto sector up 73% to $449 million in CY19 despite slowdown
Despite the slowdown in the auto industry during the past 12 months, mergers and acquisitions in the sector rose by around 73 per cent to $449 million, from $260 million during January to October 2019. The deals include...
After stake sale, Subhash Chandra quits as Zee Entertainment chairman
Subhash Chandra, who ushered in the cable and satellite revolution in India with Zee TV, has stepped down as chairman of the board at the company he founded three decades ago. The decision was taken following a board...
WhatsApp set to invest $250,000 into India’s start-up ecosystem
WhatsApp on Monday said it would invest $250,000 into the start-up ecosystem in India through a partnership with Startup India, taking its total investment in start-ups in the country to $500,000. The Facebook-owned...
Fiat Chrysler shrugs GM lawsuit, says confident of Peugeot deal by Dec
Fiat Chrysler (FCA) on Thursday brushed off a shock lawsuit from General Motors (GM) and said it was confident of reaching a binding merger deal with Peugeot owner PSA Group by the end of this year to create the...
GE Shipping’s buyback committee approves closure of Rs 100-crore offer
The country’s largest private shipping firm GE Shipping on Wednesday said its buyback committee has approved closure of Rs 100 crore offer, with the firm utilising almost full size of the issue approved. The...
No final decision yet on UGC-AICTE merger, says HRD minister Nishank
No final decision has been taken yet on merging the University Grants Commission and the All India Council of Technical Education, Union HRD Minister Ramesh Pokhriyal Nishank said on Thursday. “Till now no final...
Sony eyes up to 30% stake in Mukesh Ambani’s Network18 after Zee bid failed
Japanese major Sony Corporation is in preliminary talks with Mukesh Ambani’s Network18 Media & Investments for a possible stake buy, making it the second attempt by the group in 10 months for a local acquisition. In...
