The Mumbai bench of the National Company Law Tribunal has ordered the liquidation of the once-iconic Tulip Hotels after the creditors of the company failed to receive any viable resolution plan. The tribunal also...
Perplexity AI bids to merge with TikTok US: Report
Perplexity AI asked TikTok’s Chinese parent company, ByteDance, on Saturday to allow the US search engine startup to merge with TikTok US and create a new entity combining them and New Capital Partners, CNBC...
Wondrlab acquires Gen AI firm BigStep Technologies
Wondrlab, India’s platform-first martech network, has acquired a majority stake in BigStep Technologies, an expert in Generative AI and Cloud-Native Custom Software Solutions. This is Wondrlab’s seventh acquisition to...
Amazon to acquire fintech lending startup Axio in a $200 million all-cash deal
Ecommerce major Amazon is set to acquire Bengaluru-based fintech Axio, valuing the buy-now-pay-later (NBPL) at around $190-200 million, three people in the know said. The deal, awaiting a nod from the country’s banking...
GECOM acquires luxury triplex apartment at BKC for ₹100 cr
GECOM International, engaged in the business of establishing collaborative arrangements between Indian and foreign universities, has acquired a luxury triplex apartment in Mumbai’s central business district Bandra...
No competing bids for Jaiprakash Associates, NARCL sole contender
The National Asset Reconstruction Co (NARCL) has emerged as the preferred bidder to take over the distressed Jaiprakash Associates (JAL) after process advisor IDBI Capital Markets & Securities did not receive any...
Aditya Birla Fashion to raise $500m via QIP, preferential issue
Aditya Birla Fashion and Retail (ABFRL) on Wednesday said its board has approved raising $500 million (about ₹4,320 crore) through a mix of preferential issuance and Qualified Institutional Placement (QIP) to reduce...
Minda Corp to acquire 49% stake in Flash Electronics for Rs 1,372 crore
Auto components maker Minda Corporation on Wednesday said it will acquire 49 per cent stake in Flash Electronics for Rs 1,372 crore. The partnership is intended to expand the product offerings of both companies...
February creditor meet key to Vedanta demerger plan
If the creditors of natural resources major Vedanta go ahead with their plan of giving consent for the company’s proposed demerger at a meeting next month, it will be a major step paving the way for the listing of the...
Suitor PepsiCo joins Haldiram Snacks queue; US execs in direct talks with Aggarwal family
PepsiCo has made a late entry into the competition for a stake in Haldiram Snacks Food, executives aware of developments said. Key contenders Temasek and Alpha Wave Global, the latter also a late-stage bidder, are said...
New Mountain Capital buys a majority stake in healthcare BPO Access Healthcare
New Mountain Capital, LLC, US based investment firm, has made a strategic investment in the Chennai & Texas -based healthcare Access Healthcare, the company announced on Tuesday. Financial details were not mentioned...
India plans to pare stakes in five state-run banks including UCO
India may allow lowering the government’s ownership in five state-run banks via stake sales or the lenders themselves selling shares to large investors that will help them meet minimum public holding norms, according a...
