UltraTech Cement Ltd, India’s largest producer of the building material, has emerged as the front-runner to buy the cement business of Emami Group in an all-cash deal worth ₹6,500-7,000 crore, according to three people...
How bankruptcy got redefined in India
On 16 December, the day it closed its acquisition of Essar Steel India Ltd, ArcelorMittal SA, the world’s largest steel company and the new owner of the steel mill, held a closing party at The Oberoi in Mumbai. The...
Markets may witness consolidation in holiday-shortened week ahead, say analysts
Equity markets may witness consolidation in the holiday-shortened week ahead amid lack of major triggers, though some stock-specific action can be expected due to a rejig in Sensex constituents, analysts said. Tata...
Spotlight on Bharti Infratel board meeting tomorrow for merger update
The board of Bharti Infratel will meet on Tuesday to take stock of the progress made to complete the merger with Indus Towers, announced in April 2018. The merger, which is expected to help loss-making telecom companies...
Adani Transmission should step-up stake sales to optimize investor returns
The divergence in performance could not be starker. While shares of Adani Transmission Ltd have galloped 65% in the last two years, those of industry leader Power Grid Corp. of India Ltd languished, losing 8%. As...
NBFC firm Avanti seeks to raise up to $40 million
Avanti Finance, the microloan-focused NBFC promoted by Ratan Tata and Nandan Nilekani from their personal philanthropic funds, is looking to raise USD 30-40 million (up to about ₹285 crore) in fresh equity from impact...
NCLT admits TBZ & Sons Retail for insolvency proceedings
The Mumbai bench of National Company Law Tribunal (NCLT) has ordered the commencement of corporate insolvency resolution process against Tribhovandas Bhimji Zaveri and Sons Retail Pvt Ltd, after the company filed for...
Lenskart to raise more than $275 million from Softbank Vision Fund
Online eyewear retailer Lenskart is raising more than $275 million from Softbank Vision Fund, including some stake sale from early investors, the company said on Friday. The funds will be used to augment...
Reliance, Shell India to transfer stake in Panna-Mukta oil fields to ONGC
Reliance Industries Ltd (RIL) and Shell India-owned BG Exploration and Production India Ltd (BGEPIL) will transfer their entire stake in Panna-Mukta oil and gas fields to state-owned Oil and Natural Gas Corp Ltd (ONGC)...
Essar verdict may drive more investments into distressed assets space
The recent verdict of the Supreme Court on Essar Steel’s insolvency resolution process, which upheld the primacy of secured creditors, will drive global investments into India’s distressed assets market as it will...
Goldman Sachs invests $15 million in ZestMoney
Consumer lending startup ZestMoney said on Thursday that it has raised equity funding in a round led by investment banking giant Goldman Sachs. ZestMoney employs its own credit scoring algorithms to do risk profiling of...
Livspace in talks to raise $100 million
Online home design firm Livspace is in advanced talks to raise $100 million at a valuation of over $500 million, said two people aware of the matter, requesting anonymity. The round is expected to be led by Kharis...
