The largest foreign direct investment (FDI) proposal in financial services in the country—involving the biggest banks in Japan and India by market capitalisation—is now dead. The board of HDFC Bank on Wednesday rejected...
CCI nod sought for merger of Tata Motors Finance with Tata Capital
Tata Capital Ltd (TCL) has sought the Competition Commission of India’s (CCI) approval for its proposal to absorb Tata Motors Finance Ltd (TMFL). In a filing with the antitrust regulator last week, the company...
Asia Opportunities V sells 3% stake in PNB Housing for Rs 676 crore
Asia Opportunities V (Mauritius) on Thursday offloaded a 3 per cent stake in PNB Housing Finance for over Rs 676 crore in an open market transaction, while the Government of Singapore purchased 16 lakh shares in PNB...
Adanis sell Rs 4,200 crore worth stake in Ambuja Cements, stock up 4%
Billionaire Gautam Adani-led conglomerate on Friday sold around 2.8% stake in Adani Group firm Ambuja Cements in a pre-market block deal valued at around Rs 4,200 crore. The cement stock, which is up about 22% so far in...
NCLAT asks RP to bring on record e-mail sent to successful bidder Sarda Energy seeking clarification
The NCLAT on Wednesday directed the resolution professional of SKS Power Generation to submit and bring on record the e-mail sent to the successful bidder, Sarda Energy and Mining on May 8, 2023, seeking clarifications...
KKR to offload 17% stake in InvIT Indigrid
Esoteric, private equity firm KKR’s affiliate, will sell a 17.3% stake in energy InvIT – India Grid Trust (IndiGrid) for $213.6 million, company said on Wednesday. IndiGrid is India’s first listed power...
CCI tunes in to RIL-Disney merger show, raises query
The Competition Commission of India (CCI) has asked Reliance Industries and Walt Disney as to why their proposed $8.5-billion merger of media assets in the country should not be probed over antitrust concerns, people...
Zappfresh acquires Mumbai-based Bonsaro to expand its online meat delivery business
Startup Zappfresh, which sells meat through its online platform, has acquired Mumbai-based Bonsaro to expand its business in West India. In a statement on Tuesday, Zappfresh said it has acquired Bonsaro (Majestic...
Edgar Bronfman submits rival bid to acquire Paramount Global
Veteran media executive Edgar Bronfman Jr. submitted a bid on Monday to acquire a stake in Paramount Global and National Amusements, the Redstone family company that controls the entertainment giant, a person familiar...
Simplex Projects’ promoter secures NCLT’s nod for acquiring company through bankruptcy
The bankruptcy court in Kolkata has approved the Simplex Projects revival plan submitted by its promoter Sudarsshhan Das Mundhra. Before the National Company Law Tribunal (NCLT) nod, the company’s lenders approved the...
CCI clears Rs 4,630 cr deal between Warburg Pincus, Shriram Housing Finance
The Competition Commission of India (CCI) has cleared Warburg Pincus’ acquisition of Shriram Housing Finance through its affiliate Mango Crest Investment. The deal value was earlier pegged at Rs 4,630 crore. In a...
Reliance Group moves NCLT to restrain IIHL from using ‘Reliance’ brand name
Anil Dhirubhai Ambani Ventures Pvt Ltd (ADAVPL), a Reliance Group company, has filed an interim application in the NCLT, seeking direction to the Reliance Capital’s successful resolution applicant IIHL to stop...
