British American Tobacco p.l.c. (BAT) plans to sell 7%-15.3% stake in ITC Hotels via a block deal, the company informed via a media statement issued on Thursday. BAT announced that its wholly-owned subsidiaries, Tobacco...
Fintech firm Zaggle acquires Rio Money for Rs 22 crore; plans to invest Rs 75 crore post-acquisition
Fintech firm Zaggle, which offers spend management services, has acquired Rivpe Technology Private Limited (Rio.Money), a digital banking platform offering UPI-based payment solutions for Rs 22 crore, the company said...
Moglix acquires stake in NBFC Vanik for Rs 80 crore
Credlix, the lending subsidiary of Singapore-headquartered Moglix, an ecommerce portal for industrial goods, has invested Rs 80 crore in Vanik Finance for two-thirds stake in the Delhi-based non-banking finance company...
Govt may seek bids for $7 billion IDBI Bank stake this month
India is poised to seek bids for its $7.1 billion majority stake in IDBI Bank Ltd., a key step in its long-running effort to privatize the previously distressed lender and accelerate a divestment push. Talks with...
Macquarie leads race for stake in Maple Infrastructure Trust
Global infrastructure investor Macquarie Asset Management has emerged as the frontrunner for acquiring a significant minority stake in Maple Infrastructure Trust, the India-focused road InvIT sponsored by Canadian...
Hindujas looking for strategic partner in IndusInd Bank, but will not dilute stake
The Hinduja Group has urged the government and the Reserve Bank of India to let private bank promoters hold stakes of up to 40% and align voting rights accordingly. Speaking to ET, Ashok Hinduja, chairman, IndusInd...
Japan’s JFE, JSW forge ₹15,750-cr steel JV
JSW Steel on Wednesday announced a joint venture with Japan’s JFE Steel worth ₹15,750 crore, as part of which India’s largest steel producer will sell its subsidiary Bhushan Power & Steel’s...
Oval Invincibles is MI London as RIL concludes Surrey deal
Reliance Industries has completed the purchase of a 49% stake in Surrey County Cricket Club’s Oval Invincibles franchise in The Hundred, closing the deal at £60.27 million (₹725 crore). The transaction valued the...
Omnicom restructures India leadership team after merger with IPG
Global advertising giant Omnicom has unveiled a sweeping reorganisation of its business in India, retiring multiple agency brands and shuffling its leadership team, as part of a global restructuring following its merger...
Tata AutoComp completes acquisition of IAC Sweden; entity rebranded as Artifex Systems AB
Tata AutoComp Systems on Tuesday said it has completed the acquisition of European automotive component manufacturer IAC Sweden and rebranded the entity as Artifex Systems AB. This will strengthen Tata AutoComp’s...
NCLAT rejects insolvency plea against Voltas, upholds NCLT order
Appellate tribunal NCLAT has rejected a plea against Voltas, which sought to initiate insolvency proceedings against the Tata Group firm by one of its operational creditors. A two-member NCLAT bench has upheld the...
Lupin Pharma, TPG Capital & EQT in talks to acquire Lalvani family-owned Vitabiotics
Indian drugmaker Lupin and a clutch of private equity investors including EQT Partners and TPG Capital are in separate early-stage discussions to acquire UK’s largest nutraceutical company, Vitabiotics, people aware of...
