In what shows the Modi 2.0 government’s policy intent to privatise a clutch of large state-run firms, starting with the current financial year itself, the Cabinet on Thursday approved new processes for strategic...
Insolvency and Bankruptcy Code spurs M&A activity
Acquisition of distressed assets has gone up in India since the implementation of the Insolvency and Bankruptcy Code. According to a report by Bain & Company, these acquisitions have accounted for 70% growth in deal...
Religare to sell its stake in NBFC arm to TCG Advisory for Rs 330 crore
Religare Enterprises has agreed to sell its entire stake in NBFC arm Religare Finvest to asset management company TCG Advisory Services for Rs 330 crore, the financial services company has said in a stock exchange...
Share of carve-outs in M&A deals rises as firms hive non-core assets
Large Indian corporates are increasingly selling down businesses that are not core. This trend is adding to the mergers and acquisitions activity too, in recent times. The share of carve-outs in mergers and acquisitions...
PSU disinvestment: Legal hurdles cleared for Bharat Petroleum sale
The privatisation of Bharat Petroleum Corporation (BPCL), which could fetch around 55% of the FY20 disinvestment target of Rs 1.05 lakh crore, will be fast-tracked to conclude the transaction by the fourth quarter of...
DLF settles Rs 8,700 cr amount payable to JV with GIC
Realty major DLF has settled the entire Rs 8,700 crore amount payable to DLF Cyber City Developers Ltd (DCCDL), its joint venture with Singapore-based GIC, by transferring various completed commercial properties and...
Big Bank Theory: PSU banks merger must be followed by good governance
The government has unveiled a mega plan to merge 10 public sector banks (PSBs) into four, thereby reducing the number of state-owned banks from 18 to 12. Under the consolidation process, the Oriental Bank of Commerce...
Orbo.AI raises $1.6 million in pre-Series A funding round
Orbo.ai, an AI-powered imaging and visual enhancement startup, has announced a pre-Series A funding of $1.6 million led by institutional funds YourNest Ventures and Venture Catalysts. The round saw participation from...
NCLAT grants three weeks’ time to Dighi Port promoters to settle claims with lenders
The National Company Law Appellate Tribunal (NCLAT) has granted three weeks’ time to the promoters of debt-ridden Dighi Port Ltd to negotiate with the company’s financial creditors to settle their claims. A...
SAIL reinvites EOIs to sell three loss-making units
In order to get rid of three operational loss-making units, Steel Authority of India (SAIL) has invited expressions of interest (EoIs) from potential bidders for outright sale of these units. A similar attempt in 2017...
Deutsche Bank’s $8 billion overall includes exit from global equities
Deutsche Bank AG will exit its equities business and post a net loss of 2.8 billion euros ($3.1 billion) in the second quarter as Chief Executive Officer Christian Sewing seeks to boost profitability and shrink the...
Next trade-war casualty may be mergers and acquisitions market
Already, one megadeal is at risk because of the US-China trade spat: a massive order by Chinese airlines for Boeing planes that may be worth more than $30 billion. A Bloomberg News story on Wednesday detailed how...
