Chalet Hotels, the Indian owner of Marriott-operated hotels, is all set to buy out Accor Hotel’s Novotel Hotels in Pune, according to people aware of the deal. Valued at an estimated Rs 290 crore, the buyout is...
Airtel to pick up 26% stake in clean energy startup AMPSolar for Rs 8.4 cr
Telecom operator Bharti Airtel has signed a pact with AMPSolar Evolution to acquire 26 per cent stake in the solar power firm for Rs 8.4 crore. The Sunil Bharti Mittal-led firm has signed an agreement with the renewable...
Zee Entertainment management reassures lenders on stake sale plan
The management of Zee Entertainment on Friday met creditors to reassure them that the stake sale plan was on track and that a buyer had been shortlisted, according to people in the know. On Friday, shares of the company...
IAG to sell stake in SBI General Insurance to Premji Invest, Warburg Pincus
Public sector lender SBI on Thursday said its joint venture partner IAG will sell entire 26 per cent stake in its subsidiary SBI General Insurance to Napean Opportunities and WP Honey Wheat lnvestment Ltd for an...
Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt
The government is likely to transfer about Rs 20,000 crore of additional debt from Air India’s books in order to make it lucrative for buyers. The move will leave Air India with about Rs 10,000 crore of debt. This is a...
SoftBank Group, Ant Financial likely to invest $2 billion in Paytm
Fintech major Paytm is close to scoring $2 billion of new financing from investors, including Jack Ma’s Ant Financial and Japan’s SoftBank Group Corp, to fend off an influx of new rivals, a person familiar with...
Cabinet likely to take up Bharat Petroleum stake sale issue by October-end
The Union Cabinet is likely to take up the stake sale of Bharat Petroleum Corporation (BPCL) by the end of this month. The government is expected to sell its entire 53.29 per cent in BPCL within this financial year. The...
E-commerce firm Shopmatic buys CombineSell for an undisclosed amount
E-commerce company Shopmatic said it had acquired 100 per cent of CombineSell, a software-as-a-service (SaaS) for an undisclosed amount. CombineSell automates multichannel e-commerce by aggregating online marketplaces...
Baroda AMC, BNP Paribas AMC set for merger, parent cos enter agreement
Baroda Asset Management Company (AMC) and BNP Paribas AMC (India) have agreed to merge their businesses. Responding to a Business Standard query, BNP Paribas AMC (India) also confirmed that deputy chief executive...
TPG stalls plan to sell 10% stake in Shriram Capital on valuations
TPG Capital has paused a sale of its stake in privately-held Shriram Capital as the country’s lingering shadow banking crisis hurts valuations, according to people with knowledge of the matter. The private equity’s plan...
Haldiram emerges sole bidder to buy insolvency-bound Kwality for Rs 130 cr
Delhi-based Haldiram group has emerged as the sole bidder for acquiring debt-ridden dairy firm Kwality with an offer of around Rs 130 crore in the ongoing insolvency process, sources said. The lenders are likely to vote...
IHFL, LVB stocks fall up to 23% after RBI rejected merger proposal
Shares of Indiabulls Housing Finance and Lakshmi Vilas Bank plummeted up to 23 per cent on Thursday after the Reserve Bank of India rejected proposal to amalgamate. The Indiabulls Housing Finance (IBHFL) stock tumbled...
