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...
Modi government’s selloff push: Sale of 10% stakes in GIC, New India Assurance may fetch Rs 10,000 crore
The Centre has put in abeyance a plan to merge the three public-sector general insurance companies OIC, UIIC and NIC, but might soon sell about 10% each in General Insurance Corporation (GIC Re) and New India Assurance...
Cabinet clears ordinance to amend Companies Act
The Union cabinet on Thursday gave its approval for promulgation of an ordinance to bring amendments to the Companies Act 2013. The amendments are largely in line with recommendations of a panel headed by corporate...
Lenders seek bids for Coastal Energen
Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months. As of December 2016, Coastal Energen’s outstanding term debt stood...
Disinvestment: Coal India OFS may fetch Centre Rs 15,000 crore
Anxious to give disinvestment process the much-needed momentum, the Centre on Tuesday announced sale of up to 9% stake (558.66 million shares) in Coal India (CIL). At the floor price of Rs 266 apiece, the exercise could...
Delta Air Lines evinces interest in JetAirways, may buy Goyal, Etihad stakes
Even as the Tata group is believed to have intensified negotiations for a possible purchase of a stake in troubled airline Jet Airways, the carrier may find a white knight in Delta Air Lines, three people familiar with...
Zydus buys Complan and Glucon D maker Heinz’s basket of brands
In a deal that puts them in a commanding position in the health foods and nutrition space, Zydus Wellness and Cadila Healthcare on Wednesday said they were acquiring Heinz India at a valuation of Rs 4,595 crore. Heinz...
