L&T Infotech may be considering to offer a price close to `975 per share for acquiring Cafe Coffee Day founder VG Siddhartha’s near-21% stake in IT services firm Mindtree and is in advanced stages of negotiation, an...
Dubai’s courier giant Aramex sells India unit to logistics startup Delhivery
Soon-to-be unicorn logistics startup Delhivery has acquired India operations of the Dubai-based logistics company Aramex. Delhivery’s co-founder Suraj Saharan confirmed the development however didn’t provide further...
Bharat Biotech to acquire Chiron Behring from GSK
Vaccine manufacturer Bharat Biotech will be acquiring 100% equity stake in Chiron Behring Vaccines in an all-cash transaction from GlaxoSmithKline Asia for an undisclosed sum in the coming weeks. Refusing to share the...
PNB seeks to raise Rs 20 crore from 4% stake sale in Crif High Mark
Punjab National Bank (PNB) has put up for sale its 4% stake in Crif High Mark Credit Information Services, according to a sale document. The bank has appointed PNB Investment Services as the merchant banker for the sale...
Prudential Financial seeks new partner for insurance JV as DHFL mulls exit
Prudential Financial, the foreign partner in DHFL Pramerica Life (DPLI) Insurance, which holds 49% in the joint venture, is seeking a new majority Indian shareholder for the company. Dewan Housing Finance Corporation...
Modi govt may merge PNB, OBC and PSB to create giant PSU lender
The government is weighing the possibility of the next phase of consolidation in the public sector banking space by amalgamating three lenders —Punjab National Bank (PNB), Oriental Bank of Commerce (OBC) and Punjab...
Essel Group to sell solar business to Actis
Essel Infraprojects is in the final stages of discussions to sell its solar energy portfolio to private equity investor Actis, according to sources. The sale of the portfolio, totaling 685 mw of installed and under...
Investcorp announces acquisition of IDFC Alternatives’ PE, realty investment management business
Alternative investment manager Investcorp on Wednesday said it has launched its operations in India through the acquisition of the private equity and real estate investment management businesses of IDFC Alternatives, a...
SC upholds IBC spirit: Now, make it resolution-centric instead of liquidation-centric
The judgment of the Supreme Court upholding the legal sanctity of Insolvency and Bankruptcy Code (IBC) can bring a tectonic shift in the loan repayment culture. It asserts that the defaulters cannot bid for the assets...
Lenders may re-invite bids for Avantha’s Jhabua Power
After industrial gases manufacturer, Goyal MG Gases failed to honour its commitment as the highest bidder for Avantha group’s Jhabua Power plant, lenders to the company are planning to re-invite bids for the 600-MW...
Jet Airways deal: Goyal eying Rs 200 a share, Etihad looks at Rs 150/share
Contrary to speculation that a restructuring proposal of Jet Airways is hanging because promoter-chairman Naresh Goyal is unwilling to bring down his controlling stake below 51%, sources said that the latter is amenable...
PNB drags Binani to NCLT as subsidiary Edayar Zinc fails to repay loan
In a major development, state-run lender Punjab National Bank has dragged Binani Industries to the National Company Law Tribunal (NCLT) as its subsidiary Edayar Zinc has committed default in repayment of the outstanding...
