In a boost for the government’s effort to meet its disinvestment target for the current financial year, the board of state-run Oil and Natural Gas Corporation (ONGC) on Thursday approved its share buyback worth Rs...
Govt seeks to pump Rs 23 billion into Air India after a failed sale bid
The government of Prime Minister Narendra Modi sought Parliament’s approval for an equity infusion of Rs 23 billion ($330 million) in Air India, effectively ruling out an immediate revival of its plan to sell the ailing...
After tepid stake sale, Centre to receive Rs 32.87 bn more from Coal India
After the centre raised around Rs 84 billion from three rounds of stake sale in Coal India, it will again be receiving another Rs 32.87 billion from this Maharatna enterprise as interim dividend. The company’s board, on...
After record FDI in 2018, retail sector gears up for more M&As in new year
With the lines getting blurred between organised brick-and-mortar model and new-age online platforms, retail sector is ending the year 2018 with a record level of FDI and is gearing up for more mergers and acquisitions...
Dealmakers brace for M&A slowdown in 2019 amid economic uncertainty
Dealmakers celebrating their third-strongest year on record are fretting 2019 will herald a steep drop in mergers and acquisitions worldwide, as market jitters and economic uncertainty take their toll. The fourth...
Saudi Arabia, Reliance discuss joint venture in refinery, petchem projects
World’s largest oil exporter Saudi Arabia and richest Indian Mukesh Ambani-run Reliance Industries are discussing joint investment in petrochemicals and refinery projects, the Saudi Oil Minister Khalid al...
Carlyle seeks to double holding in PNB Housing, gain controlling stake
Carlyle Group LP is seeking to double its holding in Indian mortgage lender PNB Housing Finance Ltd, people familiar with the matter said, reversing an earlier attempt to pare its stake in the company. The US private...
DHFL to sell entire stake in asset management joint venture to Pramerica
In the wake of a liquidity crunch in NBFC and HFC space, Dewan Housing Finance Corporation (DHFL) Tuesday said it will sell its entire stake in mutual fund business, DHFL Pramerica Asset Managers, to its joint venture...
LIC makes open offer to acquire additional 26% stake in IDBI Bank
State-owned IDBI Bank Tuesday said it has received final letter from Life Insurance Corporation (LIC) for an open offer to acquire additional 26 per cent in the lender. “This is to inform that IDBI Bank is in...
HC rejects IDBI officers’ plea against LIC move to acquire stake in bank
The Delhi High Court on Monday dismissed a plea challenging the LIC move to acquire 51 per cent stake in the Industrial Development Bank of India (IDBI). Justice Vibhu Bakhru rejected the petition by the All...
Indian M&A hits all-time high in 2018 with deals worth $125 billion
Deals including the acquisition of online retailer Flipkart by American shopping giant Walmart made this the biggest year for mergers and acquisitions involving Indian companies on record. The total value of...
Infosys to divest stake in Israeli start-up CloudEndure for $15.3 mn
IT giant Infosys Saturday said it has inked a pact to divest its shares in Israeli startup CloudEndure Limited for a total consideration of around $15.3 million (about Rs 110 crore). “The company has, on December...
