Central Bank of India on Thursday sought bids for its 4% stake in Clearing Corporation of India (CCIL) to raise at least Rs 120 crore. Bank of Baroda (BoB) is reported to have agreed to sell a similar stake to HDFC Bank...
SBI and BoI seek bids for NPAs worth Rs 7,000 crore
Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset...
Lenders to take call on selective L&T IDPL bid on November 27
Lenders to Jaypee Infratech (JIL) will, on November 27, decide whether L&T Infrastructure Development Projects’ (IDPL) selective proposal for the bankrupt firm can be considered. L&T IDPL is interested only in...
Apple acquires Silk Labs, AI startup, to bolster HomePod development
Apple has acquired a Startup called Silk Labs that works on Artificial Intelligence (AI)-based personal assistant technology for smartphones and smart home devices. According to a report in The Registrar, the quietly...
Voda Idea to expedite merger synergies
Vodafone Idea on Thursday said that it will expedite the merger synergies by advancing the target by two years to FY21, enhance 4G network expansion and deleveraging. The merged entity had earlier set FY23 deadline for...
Government looks to garner Rs 5,000 cr from CPSE share buybacks this fiscal
The government expects to garner at least Rs 5,000 crore through share buyback offers of state-run companies, including Coal India, in the current fiscal, a Finance Ministry official said. Coal India, in which the...
Tata Power unit signs agreement to buy 75% stake in 1,980-MW Bara power plant
Tata Power on Wednesday said Renascent Power Ventures, a wholly owned subsidiary of Resurgent Power Ventures, has signed a share purchase agreement with a consortium of lenders led by State Bank of India (SBI) to...
India’s bankruptcy law: Lenders, take note! This act helps only vigilant creditors, not sleeping ones
By Vikas Kumar & Surbhi Jaju The conundrum of whether the Limitation Act, 1963 (Act) applies to the proceedings initiated under the Insolvency and Bankruptcy Code, 2016 (Code) has confused the stakeholders since the...
M&A, PE deal volumes rise 11% in October; values increase marginally: GrantThornton
Mergers and acquisitions (M&A) and private equity (PE) deal volumes increased 11% in October compared to the same period last year while deal values recorded a marginal increase of 3%, a Grant Thornton report...
Stressed assets: Tata Steel open to more acquisitions
Tata Steel was open to further acquisition of stressed assets considering the increased demand of steel in the market. There is a consolidation going on in the steel business at present following a down cycle of the...
Unichem acquires 19.99% stake in two Optimus group firms for Rs 120 crore
Unichem Laboratories has acquired a 19.99% stake each in two different companies of the Optimus Group — Optimus Drugs and Optrix Laboratories — for nearly Rs 120 crore with the key objective of gaining access to the...
Equitas plans to revamp shareholding in small finance bank, aims merger
Signalling that it may not go for an IPO for its small finance bank, the Chennai-based Equitas Holdings (EHL) has revealed that it is planning to revamp the shareholding in the entity. EHL plans to dilute up to 60% of...
