Vedanta Ltd’s promoter Anil Agarwal is in talks with several banks to tie up loans worth $2.0 billion-$2.5 billion to help finance the delisting offer of Vedanta. On 12 May, Vedanta Resources, the promoter entity...
KKR leads race to buy majority stake in JB Chemicals for ₹2500-3000 crore
US private equity giant KKR & Co. Inc. has emerged as the front-runner to buy a 51% stake in JB Chemicals and Pharmaceuticals Ltd, which manufactures popular over-the-counter drugs rantac and metrogyl. Two persons...
Khatabook raises ₹454 crore in Series B round
Khatabook, a digital ledger app that helps micro, small and medium-sized businesses track business transactions, has closed a ₹454 crore ($60 Million) Series B round of funding led by B Capital Group. The latest funding...
Bajaj Finance writes off exposure to IL&FS and Karvy
Bajaj Finance has written off ₹390 crore of exposure towards Infrastructure Leasing and Financial Services Ltd (IL&FS) and Karvy Stock Broking at a time when banks and non-bank financiers are reeling under the...
RIL’s massive rights issue of ₹53,125 crore opens today
Asia’s richest man Mukesh Ambani’s Reliance Industries Ltd (RIL), which is on a fund-raising spree amid the covid-19 pandemic, is set to open its massive ₹53,125-crore rights issue on Wednesday. The rights issue, which...
Siemens AG sells 24% stake in Indian unit for ₹8,520 crore to group firm
German conglomerate Siemens Aktiengesellschaft on Tuesday sold shares worth over ₹8,500 crore in its listed Indian subsidiary Siemens Ltd, amounting to about 24 per cent stake, to another group firm Siemens Gas and...
Sony to buy full control of financial unit to weather crisis
Sony Corporation plans to make its financial services unit a wholly owned subsidiary to ensure stability as it rides out the hardships brought on by the coronavirus pandemic. “We will be able to carry out more...
Snowman Logistics’ stake sale to Adani gets murky
Adani Ports and Special Economic Zone Ltd, whose plan to buy a controlling stake in cold chain logistics company Snowman Logistics Ltd has hit a hurdle, has refuted claims by Snowman’s promoters on the deal. “ALL (Adani...
Accenture acquires Byte Prophecy to enhance AI, analytics capabilities
Global technology major Accenture has acquired Byte Prophecy, an automated insights and big data analytics company based in Ahmedabad, to meet the growing demand for enterprise-scale artificial intelligence (AI) and...
Tata Consumer to acquire PepsiCo’s stake in NourishCo Beverages
Tata Consumer Products Limited (TCPL) on Monday said it will acquire PepsiCo’s stake in NourishCo Beverages Limited—a 50:50 joint venture between the two companies as it moves to build a strong play in the packaged...
Diageo might delist United Spirits by buying out minority shareholders: Report
Diageo Plc, the world’s largest spirits maker, is exploring options to delist its Indian arm, United Spirits Ltd, by buying out minority shareholders, CNBC TV-18 reported on Monday. Diageo, the maker of Johnnie...
RBI directs HDFC to reduce stake in HDFC Ergo, HDFC Life to 50% or below
The Reserve Bank of India has directed HDFC Limited to bring down its stake in its subsidiaries HDFC Ergo and HDFC Life Insurance to 50 per cent or below. The RBI has directed that post merger of HDFC Ergo Health...
