Electric vehicle (EV) start-up SmartE has raised Rs 100 crore from Japanese major trading house Mitsui & Co in a Series B funding round. In addition to the capital, Mitsui will bring to SmartE multiple synergies...
American Airlines-Qantas joint venture wins final approval from US DOT
US Department of Transportation (DOT) on Friday granted American Airlines Group and Qantas Airways final approval to operate a joint venture after a prior effort was rejected in 2016. The department last month had...
JSW Steel eyes packaging market, to invest Rs 1,000 cr in tinplate capacity
JSW Steel is investing close to Rs 1,000 crore in tinplate capacity, in tandem with India’s pledge of eliminating single-use plastics by 2022. JSW Steel has an annual installed capacity of 350,000 tonnes tinplate of...
Govt clears changes to insolvency law; secured lenders to get preference
In a big relief for banks, the government is bringing in multiple reforms to the three-year-old Insolvency and Bankruptcy Code (IBC), providing clarity about preference to secured lenders over operational creditors, to...
Suzlon defaults on $172-mn bonds, in talks with investors for stake sale
Wind energy major Suzlon Energy did not pay its bondholders for $172-million in foreign currency convertible bonds (FCCBs) which were due on Tuesday, the company disclosed to the BSE exchange. The $172 million was part...
Ambuja looks to expand cement capacities with buys in RMCs, aggregates
LafargeHolcim-controlled Ambuja Cement is looking to acquire capacities in ready-mix concrete (RMC) and aggregates businesses to fuel growth. The company is also on the look out for adding cement capacities, if the...
Religare Enterprises to sell home loan arm, NBFC business to TCG
Purnendu Chatterjee-owned The Chatterjee Group (TCG) Advisory Services has entered into an agreement with Religare Enterprises to acquire its NBFC arm Religare Finvest (RFL) and housing finance company Religare Housing...
Amicus Capital invests Rs 43 cr in Punjab-based Capital Small Finance Bank
Private equity fund Amicus Capital has made its third bet by investing in Punjab-based Capital Small Finance Bank leading the series B funding round. In this round, the Capital SFB has raised Rs 132 crore, which was led...
NCLT orders insolvency proceedings against C Sivasankaran’s company
The National Company Law Tribunal (NCLT) in Chennai has ordered insolvency proceedings against businessman C Sivasankaran’s Siva Industries & Holdings Ltd after hearing an application filed by IDBI Bank. The...
Modi govt exploring opportunities for more mergers in energy: Dipam secy
The Narendra Modi government is exploring opportunities for further mergers and acquisitions (M&As) among state-owned companies this year, Dipam Secretary Atanu Chakraborty told Business Standard on Saturday. In...
Govt likely to set October deadline for cash-strapped Air India sale
The build-up to Air India privatisation has taken off in full swing with the Union Budget announcing it as the centrepiece of divestment this year. The government is targeting October as the deadline for announcing the...
Tata Steel to subscribe up to 90% of Tata Sponge Rs 1,650 cr rights issue
Tata Steel will subscribe up to 90 per cent of the Rs 1,650 crore rights issue of Tata Sponge. In an intimation to the stock exchanges, Tata Sponge has informed that its promoter (Tata Steel) has undertaken that it will...
