Mahanagar Telephone Nigam (MTNL) will have to wait for at least 18 months to become a part of Bharat Sanchar Nigam (BSNL) as a joint panel will decide the fate of the two PSUs, post merger. The joint committee will have...
Buybacks of shares least preferred mode of exit for private equities
The term ‘buyback of shares’ has got publicity on being mentioned in Café Coffee Day founder V G Siddhartha’s alleged suicide note. Buyback of shares is one way a promoter can offer an exit to a private equity (PE)...
DHFL submits debt restructuring plan to core committee of creditors
India’s debt-laden shadow bank Dewan Housing Finance Ltd (DHFL) has submitted a restructuring plan to its core committee of creditors (CoC), two sources involved in the matter said, adding that lead lenders were...
Vodafone Idea to shut m-pesa biz, waives Rs 210 cr to close payments bank
Vodafone Idea Ltd has decided to close m-pesa vertical following the closure of Aditya Birla Idea Payments Bank Ltd (ABIPBL), in which it was being merged with, a top official said on Monday. Nearly 17 months after it...
Alteria raises Rs 960 cr in maiden funding from IndusInd, SIDBI and others
Alteria Capital, a home-grown venture debt player, has raised Rs 960 crore (or $140 million) in its maiden fund to back high-growth start-ups at a time when venture debt is attracting investors looking to grow their...
Toyota Motor to invest $600 million in joint venture with China’s Didi
Toyota Motor Corp said on Thursday it will invest $600 million in Chinese ride-hailing giant Didi Chuxing and a new joint venture to expand collaboration with the firm in China. The move accelerates a trend in China...
NCLT stays its own order to prosecute IL&FS auditors for four weeks
The National Company Law Tribunal on Thursday stayed its order allowing the government to prosecute the three partners of Deloitte and BSR Associates for their alleged culpability in the IL&FS fraud following a plea...
Tata Steel to invest Rs 5,000 cr in logistics to boost competitiveness
From owning rail rakes and laying slurry pipelines to building greenfield ports, Tata Steel — the country’s oldest steel producer — is leaving no stone unturned to lower its logistics cost and make more competitively...
DoT plans to move SC challenging Tata Teleservices-Airtel merger in August
The telecom department is planning to challenge merger of Tata Teleservices consumer business with Bharti Airtel in the Supreme Court next month. “The DoT has not taken merger of Airtel and Tata Teleservices on...
South African court blocks Zambia’s plans to sell Vedanta copper mines
A South African court ordered Zambia to halt plans to liquidate and sell copper mines controlled by Indian billionaire Anil Agarwal pending arbitration in a dispute that’s rattled investors in Africa’s second-largest...
Reliance Industries’ talks on stake sale to Saudi Aramco hit roadblock
Reliance Industries talks to grant a minority stake in its refining assets to Saudi Aramco have hit a roadblock over the valuation and structure of the deal, two people familiar with the matter said. State-owned Aramco...
HPCL refuses to recognise ONGC as promoter, 18 months after merger
Hindustan Petroleum Corp Ltd (HPCL) has for the last one-and-half-years refused to recognise its majority shareholder ONGC as a promoter, according to stock exchange filings. Oil and Natural Gas Corp (ONGC) in January...
