City-based digital payment platform Instamojo has acquired Times Internet-owned GetMeAShop, a digital commerce platform for micro, small and medium enterprises (MSMEs), for $5 million in cash. This is Instamojo’s...
Tweak in Companies Act may affect Tata versus Mistry case
The corporate affairs ministry on Monday notified an amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2020, adding a provision for majority shareholders to buy out minority stockholders...
Oil ministry seeks approval to split GAIL; pipeline business may be sold later
The Oil Ministry has moved a cabinet note seeking approval for hiving off state-owned gas utility GAIL (India) Ltd’s pipeline business into a separate entity for a possible sale to a strategic investor at a later...
PMC Bank Case: RBI moves SC against Bombay HC order to sell HDIL assets
Reserve Bank of India (RBI) on Tuesday moved the Supreme Court against Bombay High Court, which had ordered sale of assets owned by bankrupt Housing Development and Infrastructure Ltd (HDIL) to repay dues of Punjab and...
Publicis Groupe merges two agencies to create Publicis In-Motion
Publicis Groupe India on Tuesday said it has merged its two existing agencies–Arc Worldwide, Solutions and Ecosys OOH–to create ‘Publicis In-Motion’. The new entity will focus on experiential marketing which...
Maharashtra State Co-operative Bank pitches for branch merger of PMC Bank
Maharashtra State Co-operative (MSC) Bank has written to Union Finance Minister Nirmala Sitharaman seeking merger of branches of PMC Bank, in case of a takeover of the troubled lender, a top official said on Tuesday...
Centrum Housing Finance raises funds from Morgan Stanley unit
Centrum Housing Finance Ltd Sunday said a fund managed by Morgan Stanley Private Equity Asia has agreed to invest ₹190 crore to acquire a significant minority stake in the affordable housing finance company. The...
Motherson Sumi Systems to demerge domestic wiring harness unit
Motherson Sumi Systems Ltd (MSSL) plans to demerge its domestic wiring harness business into a newly formed legal entity with mirror shareholding, which shall be listed, the company said in a stock exchange filing on...
Indiabulls is now buying back its slumping bonds
An Indian shadow bank is offering to buy back its cheapened bonds after an ongoing fraud probe and a prolonged credit squeeze helped push yields as high as 43% last year. Indiabulls Housing Finance Ltd. will repurchase...
Air India sale: India discusses with nine companies, including IndiGo, Tata Sons and IAG
Indian officials met with as many as nine companies during roadshows to gauge interest in a stake sale in the nation’s loss-making flag carrier, people with knowledge of the matter said. Officials from the South Asian...
Alto Pharmacy raises funds from SoftBank
SoftBank’s second Vision Fund has led a new round of funding for Silicon Valley-based drug delivery firm Alto Pharmacy that valued it at over $1 billion, according to two people familiar with the development...
Denmark packaging company Hartmann acquires Mohan Fibre
Denmark’s Brødrene Hartmann A/S, a manufacturer of moulded fibre packaging for eggs and fruits, on Thursday announced the acquisition of Mohan Fibre Products Pvt. Ltd, marking its entry into India. Punjab-based Mohan...
