The National Company Law Tribunal, Kolkata Bench, on Friday, admitted an application for initiating a corporate insolvency resolution process (CIRP) against McLeod Russel India, the country’s largest bulk tea producer...
China’s Alibaba Group sells its entire remaining 3.4% stake in Paytm
China’s Alibaba Group has fully exited Indian digital payments firm Paytm, news agency ANI reported on Friday. Alibaba had a 3.4 per stake, or 2.1 crore shares, in Paytm’s parent company One97...
Adani Power receives NCLT’s approval for merger of six subsidiaries
The National Company Law Tribunal (NCLT) on Thursday approved the merger of Adani Power Maharashtra, Adani Power Rajasthan, Udupi Power Corporation, Raipur Energen, Raigarh Energy Generation, and Adani Power (Mundra)...
Compass Group’s Elior India acquisition stalled due to governance glitches
The acquisition of Elior India, a subsidiary of the Paris-listed catering and related services company Elior Group, by a British multinational contract foodservice company Compass Group, has been stalled due to an...
Govt to sell some stake in Hindustan Zinc by next month: DIPAM secy
The government is likely to sell a part of its residual stake in Hindustan Zinc Ltd by next month to help it achieve the revised sell-off target of Rs 50,000 crore for the current fiscal, DIPAM Secretary Tuhin Kanta...
Biocon sells 9.96% stake in contract research firm Syngene via open market
Indian biopharma company Biocon sold a 9.96% stake in its unit and contract research firm Syngene International through open market sale, it said in an exchange filing. With the sale, the total promoter stake...
Tube Investments arm buys e-tractor startup Cellestial E-Mobility
As part of its expansion into the e-mobility space, Murugappa group company Tube Investments of India (TII) has acquired the entire shareholding of Cellestial E-Mobility Pvt Ltd, a Hyderabad-based startup engaged in the...
Happiest Minds to acquire SMI via upfront, deferred equity for Rs 111 cr
Happiest Minds Technologies announced that it has signed an agreement to acquire Madurai-headquartered IT services company SMI through a combination of upfront and deferred equity consideration amounting to Rs 111 crore...
Adani Green Energy arm to buy 50% equity in Essel Saurya Urja for Rs 15 cr
Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore. Adani Renewable Energy Holding Two...
Private equity major Apax Partners offloads 2.14% in Shriram Finance
Private equity major Apax Partners on Friday offloaded 2.14 per cent stake in non-bank lender Shriram Finance via block deals. Dynasty Acquisition, an affiliate firm of the PE player, sold close to 8 million shares at...
NCLT adjourns Zee Entertainment lenders’ pleas against merger to Feb 2
The Mumbai bench of the National Company Law Tribunal (NCLT) has adjourned the matter of Zee Entertainment lenders looking to prevent a merger between Zee and Sony to February 2. The matter had come up in the NCLT court...
Apax Partner plans to sell Shriram Capital stake to raise Rs 2,250 crore
Private equity firm Apax Partner is planning to sell its entire stake in Shriram Finance via block deals. The transaction would be worth Rs 2,250 crore taking into account the stock movement today. There are three key...
