Indian-origin billionaire brothers Mohsin and Zuber Issa are set to acquire a majority stake in the leading UK supermarket chain Asda from its US owner Walmart after a USD 8.8-billion deal was struck as part of a...
IIFL Wealth exits advisory business post Sebi circular
IIFL Wealth Management Ltd has exited its investment advisory business on 1 October, following a circular from the Securities and Exchange Board of India (Sebi) asking companies to cease offering advisory and...
Reliance Jio Fiber trust to raise $5.4 billion from group firms
A trust that holds Indian billionaire Mukesh Ambani’s fiber-optic assets is raising 397.1 billion rupees ($5.4 billion) through borrowings and stake sales to units and investment firms of the tycoon’s conglomerate...
Curefit spins off Eatfit as a separate vertical
Health and fitness startup Curefit has carved out its health food vertical Eatfit as an independent entity, to meet the rising consumer demand from the cloud kitchen sector. This means that Eatfit will have its own...
Brookfield Reit plans ₹4,400 cr share sale
Canadian alternative asset manager Brookfield Asset Management has filed a draft offer document with market regulator SEBI to raise around ₹4400 crore through a real estate investment trust (REIT). The IPO could be...
Rosneft, Aramco unlikely to bid for Bharat Petroleum stake: Report
Rosneft and Saudi Aramco are unlikely to bid in the privatisation of Indian refiner Bharat Petroleum Corp, sources familiar with the matter said, as low oil prices and weak demand curb their investment plans...
SBI board approves raising additional AT1 bonds up to ₹5,000 cr in FY21
The State Bank of India board on Wednesday approved raising additional AT1 bonds up to ₹5,000 crore in FY21. The state-owned lender said the fundraising amount is within the capital plan earlier approved. The bonds bear...
Share sale by GMM draws regulator’s scrutiny
GMM Pfaudler’s 17.6% stake sale at a heavy discount to market price has attracted regulatory scrutiny over allegations of insider trading involving short selling of the company’s shares, said two people with direct...
Abu Dhabi’s Mubadala in advanced talks to invest up to $1 bn in Reliance Retail: Report
Abu Dhabi state fund Mubadala Investment Co is in advanced talks to invest up to $1 billion in the retail division of India’s Reliance Industries Ltd, two sources told Reuters, as investor interest in the Indian...
General Atlantic to invest ₹3675 crore in Reliance Retail Ventures
Global equity firm, General Atlantic will invest ₹3,675 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, for a 0.84% stake, Reliance Industries said today. This marks the second...
Sales acceleration startup SquadStack raises $5 million led by Chiratae Ventures
San Francisco and New Delhi-based startup SquadStack has raised $5 million in a Series A funding round led by Chiratae Ventures. Existing investor Blume Ventures also participated in the round. The funds will be used...
NTT to take mobile unit Docomo private for $38 billion
The board of NTT Docomo Inc. is holding a meeting Tuesday to discuss Nippon Telegraph & Telephone Corp.’s plans to turn its wireless carrier unit into a wholly-owned subsidiary, a move that may help Prime Minister...
