Lenders of Anil Ambani-led Reliance Communications on Wednesday sold 12 crore pledged shares, which accounted for 4.34 per cent stake of promoters in the telecom firm. The sale was a result of lenders invoking shares...
NCLT questions Sterling Biotech lenders on accepting deal from promoters
The National Company Law Tribunal (NCLT) asked lenders of Sterling Biotech how they had accepted the one-time settlement (OTS) offer from the promoters of the bankrupt firm. The NCLT also plans to write to central...
Marsh raises stake in Indian JV to 49 pc
Global insurance broking firm Marsh Tuesday said it has raised shareholding in its Indian joint venture, Marsh India, from 26 per cent to 49 per cent, the maximum FDI limit in the sector. Marsh India is a joint venture...
HDFC Life shares plunge over 5% on stake sale announcement
Shares of HDFC Life Insurance Company Tuesday declined by over 5 per cent after the insurer said its promoter Standard Life will sell up to 4.93 per cent stake. On BSE, the scrip ended at Rs 371.45, down 4.71 per cent...
Birlasoft completes merger with KPIT’s IT services division
Birlasoft, a part of the diversified CK Birla Group, Tuesday said it has completed the planned merger with the IT services division of KPIT. The combined entity BirlasoftLimited’ is a mid-tier USD 500 million...
Bank of Maharashtra to sell Videocon’s TN unit to recover Rs 154-cr debt
Bank of Maharashtra (Mahabank) will sell the consumer electronics manufacturing plant of Videocon Industries in Tamil Nadu in an auction to recover its outstanding debt worth Rs 153.77 crore. The bank has issued a...
Blackstone Group’s REIT seeks to raise $682 million in India listing
Embassy Office Parks REIT, backed by Blackstone Group, plans to raise about Rs 4,750 crore ($682 million) in India’s first real estate investment trust listing. The REIT, which includes Embassy Group properties, will...
Venture capital firm Lightbox invests $4 mn in female wellness startup Nua
Venture capital firm Lightbox has made its first investment from its $200 million third fund. It has invested $4 million in Nua, a female wellness brand. Existing investor Kae Capital has also participated in this...
FSS makes strategic investment in Ecentric Payment by picking 46% stake
Payments technology and transaction processing provider Financial Software and Systems Monday said it has made a ‘strategic investment’ in South Africa based Ecentric Payment Systems by acquiring 46 per cent...
Naresh Goyal seeks Rs 750 crore from Etihad to keep Jet Airways flying
Jet Airways Founder-Chairman Naresh Goyal, in communication to Etihad group Chief Executive Officer Tony Douglas, has said the airline is in a “precarious” position, with more than 50 planes grounded. Goyal has sought...
Ebix makes $336 million bid for Yatra.com, plans expansion in Indian market
US-based software firm Ebix has made an offer to acquire Yatra.com for $336 million in order to expand its presence in the fast growing Indian travel market. Ebix, which in recent months made a slew of acquisitions in...
NCLAT pulls up RCom lenders over Rs 37,000 cr asset sale ‘golden outlook’
The National Company Law Appellate Tribunal (NCLAT) Monday pulled up SBI, the lead lender of debt-ridden Reliance Communications, along with others for giving a ‘false impression’ to monetise Rs 37,000 crore...
