Gruh Finance Ltd has sought shareholders’ approval on June 4 for the proposed amalgamation with Bandhan Bank through a share swap deal. Gruh Finance’s parent company HDFC has received RBI approval to hold 9...
Mswipe raises Rs 207 cr from Falcon Edge, Epiq Capital and other investors
Mswipe Technologies, which develops point-of-sale terminals for merchants, Tuesday said it has raised $30 million (about Rs 207 crore) from existing investors Falcon Edge, B Capital, Epiq Capital and DSG Growth Partners...
L&T buys V G Siddhartha, Coffee Day stake in Mindtree for Rs 3,210 cr
Infrastructure major Larsen & Toubro has purchased around 20 per cent stake of V G Siddhartha and Coffee Day in Mindtree through block deal for about Rs 3,210 crore. According to data available at the...
OYO to buy Amsterdam-based vacation rental company @Leisure for Rs 2,880 cr
In one of the biggest acquisition of a foreign firm done by an Indian unicorn, Oyo is set to acquire Amsterdam-based vacation rental company @Leisure Group from Axel Springer at a little over Euro 369.5 million, or over...
Supreme Court sets aside merger of 63 Moon Technologies with NSEL
The Supreme Court of India on Tuesday set aside the central government’s decision to merge National Spot Exchange Ltd (NSEL) with Financial Technologies India Limited (FTIL), now known as 63 Moon Technologies Limited...
McNally Bharat Engineering reclassifies EMC as its promoter shareholder
McNally Bharat Engineering (MBEL), an associate company of the Williamson Magor Group (WMG) has reclassified its former promoter EMC Ltd as a public shareholder in the firm even as MBEL faces insolvency proceedings...
PNB takes Tarapur Textiles Park to DRT for $13-million loan default
With investigations into Nirav Modi scam in full swing, Punjab National Bank (PNB) has unearthed yet another default from its London branch. The bank has moved the Debt Recovery Tribunal (DRT) against Tarapur Textiles...
TVS Motor picks up minority stake in IoT firm Altizon, invests over $2.5-mn
Automobile manufacturer TVS Motor has acquired a minority stake in US-based industrial Internet of Things (IoT) firm Altizon Inc and Altizon Systems Pvt Ltd, with an investment of over $2.5 million, in order to utilise...
LVB to raise Rs 188 crore from Indiabulls Housing Finance
Lakshmi Vilas Bank (LVB) is planning to raise around Rs 188.16 crore from Indiabulls Housing Finance Ltd (IHFL) through a preferential allotment of 16.8 million equity shares of the bank at Rs 112 per share...
Govt to charge Axis Bank, StanChart, Bawa & wife with contempt of NCLT
The corporate affairs ministry will on Friday file contempt of court petitions against Axis Bank and Standard Chartered Bank for their alleged role in ex-IL&FS Financial Services managing director Ramesh Chander...
SoftBank eyes $2-3 billion investment in Mukesh Ambani’s Reliance Jio
Japan’s SoftBank is looking at buying a $2-3 billion stake in Reliance Jio, Reliance Industries’ telecom subsidiary and the country’s fastest-growing telco. “For the past two years, our conversations with investors have...
Indiabulls promoters ready to exit real estate business for bank merger
With the Chennai-based Lakshmi Vilas Bank set to merge with Indiabulls Housing Finance in a share-swap deal, Indiabulls group promoters are ready to exit the real estate business in case the Reserve Bank of India (RBI)...
