The Competition Commission of India (CCI) on Friday said that it had approved the Adani Group’s acquisition of Ambuja Cements and ACC from Switzerland’s Holcim. The two companies were acquired in a $10.5-billion (Rs...
ADIA to invest Rs 665 cr in Aditya Birla Health Insurance for 9.99% stake
The boards of Aditya Birla Capital and Aditya Birla Health Insurance have approved a proposal of capital infusion to the tune of Rs 665 crore in the later from a subsidiary of Abu Dhabi Investment Authority (ADIA), the...
Centre shortlists six investment banks to assist in HZL stake sale
The Centre has shortlisted six merchant bankers to assist the government in offloading its 29.5 per cent residual stake in Hindustan Zinc in tranches. The merchant banks, which include ICICI Securities, SBI Capital...
HDFC gets National Housing Bank nod for merger with subsidiary bank
Mortgage major HDFC has received approval from the National Housing Bank (NHB) for its merger with subsidiary HDFC Bank, a regulatory filing said. The NHB has also approved the merger of two wholly-owned subsidiaries...
upGrad raises $210 mn funding, eyes acquisitions in US, Southeast Asia
Ronnie Screwvala-led edtech unicorn upGrad said it has raised a funding of $210 million from marquee investors and Family Offices who join the company cap table. This round has witnessed participation from ETS Global...
Govt to decide on re-initiating BPCL sale after reviewing situation: FinMin
The government will decide on re-initiating the process of BPCL strategic sale based on a review of the situation in due course, Parliament was informed on Monday. In a written reply to the Lok Sabha, Minister of State...
Over Rs 2,000-cr M&As may come under Competition Commission’s purview
An additional criterion in mergers and acquisitions (M&As) may require digital businesses to secure approval from the Competition Commission of India (CCI), the anti-trust regulator. The government is set to...
Tiger Global sells 2.34% stake in Zomato, sells 185 million shares
Zomato said investment firm Tiger Global has reduced its stake in the company by almost half to 2.77 per cent by selling over 18.45 crore shares in the open market. Tiger Global’s Internet Fund VI Pte Ltd had a...
PwC India completes acquisition of Salesforce consulting firm Venerate
PwC India has announced it has completed the acquisition of Venerate Solutions Private Limited, a Salesforce consulting firm. Venerate, which was founded in 2016 in Bangalore, builds customised solutions on the...
Fintech firm Twid raises $12 mn to expand reward points-based service
Twid, a reward point-based payment solutions start-up, said on Wednesday it has raised $12 million in a funding round led by Rakuten Capital. The Series A round saw participation from Google, ICMG Partners, JAFCO Asia...
SP Group sells entire stake in Jammu highway project to NIIF for $290 mn
The Shapoorji Pallonji Group announced the divestment of its entire shareholding in SP Jammu Udhampur Highway Ltd to the National Investment and Infrastructure Fund (NIIF) for USD 290 million (about Rs 2,200 crore). The...
Centre cites policy to reject union’s proposal to merge RINL with SAIL
The centre has rejected a proposal by the employees’ union of Rashtriya Ispat Nigam Ltd (RINL) for merging the company with state-owned Steel Authority of India Ltd (SAIL), Parliament was told on Tuesday. The New...
