Minority shareholders of Fortis Healthcare Ltd are demanding that the company and its parent IHH Healthcare Bhd make efforts to vacate a Supreme Court stay on an open offer for buying additional shares of the Indian...
Chinese auto firms eye GM’s last plant in India
SAIC Motor Corp. Ltd and Great Wall Motors Co. Ltd, two of China’s biggest automakers, are in talks with General Motors Co. to acquire the Detroit carmaker’s last remaining factory in India, two people aware of the...
Norwegian financier NMI aims to raise the stakes in India
Norwegian development financier Nordic Microfinance Initiative (NMI) aims to grow its India exposure to 35% from its fourth fund, said a senior executive. Founded in 2008 in Oslo, NMI is a partnership between Norfund...
DoT directs telecom circle heads to deal Airtel, Tata Tele as separate companies
The telecom department has directed all circle heads to treat Bharti Airtel and Tata Teleservices as separate entities, as it is in process to challenge their merger in the Supreme Court, according to an official source...
NBFCs, HFCs may be brought under bankruptcy code
The government is examining the feasibility of bringing certain types of non-bank lenders and housing financiers under the Insolvency and Bankruptcy Code (IBC) to enable rescue of distressed financial institutions under...
Raymond demerges core lifestyle business
Raymond Ltd said it will demerge its core lifestyle business into a separate listed entity to simplify the group structure and create investor opportunities. The new entity, Raymond Lifestyle Ltd, will bring all its...
Air India makes renewed bid to raise funds, puts 38 assets on the block
Debt-laden Air India Ltd is making a renewed bid to raise funds by auctioning about 38 real estate assets, including some it could not sell in previous auctions by lowering the reserve price of some of the properties...
Bombay HC rejects Adani’s plea to deter Bidvest from selling stake in Mumbai airport operator
The Bombay high court (HC) on Wednesday declined to entertain a plea by Adani Properties, seeking to restrain South Africa’s Bidvest Group Ltd from selling its minority stake in Mumbai International Airport Ltd (MIAL)...
NIIF, Cube look to buy Ashoka Concessions
A road platform operated by the National Investment and Infrastructure Fund (NIIF) and I Squared Capital-owned Cube Highways have expressed interest in buying Ashoka Concessions Ltd, a company owned by developer Ashoka...
Toyota, Suzuki in JV to dismantle, recycle vehicles in India
Suzuki Motor Corp. and Toyota Motor Corp. will start a vehicle dismantling and recycling joint venture in India as the Japanese automakers expand their alliance in the country. The joint venture, Maruti Suzuki Toyotsu...
Tech Mahindra acquires New York-based BORN Group for $95 million
IT services firm Tech Mahindra Ltd (Tech M) has acquired BORN Group, a New York-based digital content and production agency, for $95 million in an all-cash deal. BORN’s services include consulting, content creation...
Podcasting startup Kuku FM raises funds from Shunwei Capital, others
Podcasting startup Kuku FM on Tuesday said it has raised an undisclosed amount of funding from Shunwei Capital, the Chinese investment firm spun off from handset-maker Xiaomi, and Indian venture capital firms India...
