Larsen & Toubro (L&T) will buy out its partner, Old Lane, in L&T Infrastructure Development Projects Limited (L&T IDPL) to convert it into a fully-owned subsidiary. The engineering giant will buy out the...
Jet Airways to become first Indian company to undergo Cross Border Insolvency proceedings
In a major breakthrough for India’s insolvency mechanism which is still in its evolving stage, Jet Airways would be the first Indian company to undergo insolvency proceedings under the Cross Border Insolvency...
Why disinvestment can break the shackles around BHEL
Under the spotlight of disinvestment, power equipment producer BHEL Ltd may be just beginning to lighten up. The stock surged 27.5% in trade today to ₹56.8, which takes the market value of the company to about ₹19,800...
DHFL bondholders take the lender to bankruptcy court
The resolution plans of debt-laden shadow lender Dewan Housing Finance Corporation Ltd (DHFL) have hit a roadblock after the custodian of DHFL bonds said on Thursday it is taking the firm to bankruptcy court on behalf...
Prem Watsa’s Fairfax sells remainder stake in ICICI Lombard ending 18 year run
Canadian billionaire Prem Watsa’s Fairfax on Wednesday sold its entire remaining stake in ICICI Lombard General Insurance Co. Ltd shares worth Rs2,626.5 crore, ending its 18 year run as an investor in the company...
SoftBank plans $5 billion rescue financing for WeWork
SoftBank Group Corp. is in discussions to provide WeWork with roughly $5 billion of rescue financing in an effort to salvage one of the Japanese conglomerate’s biggest investments. The funds will come directly...
Tencent, Tiger Global, others back MyGate
The makers of MyGate, a security management app for gated communities, Thursday announced raising $56 million in a Series B funding from China’s Tencent Holdings, US-based JS Capital LLC, Tiger Global Management and...
Bare Anatomy raises $500,000 from Sauce.vc
Personal hair care brand Bare Anatomy has secured seed funding of $500,000 from Sauce.vc, a consumer-centric venture capital fund, according to a company statement on Wednesday. With this current round, the startup will...
Blackstone, KKR join race for India’s Emami Cement
Blackstone Group Inc. and a rival consortium led by KKR & Co. are considering bids for the cement unit of Indian cosmetics to paper conglomerate Emami Group, according to people with knowledge of the matter. TPG...
CleverTap raises $35 million led by Tiger, Sequoia
CleverTap, a mobile marketing and analytics startup, on Tuesday said that it has raised $35 million in a Series C round, led by existing investors Tiger Global Management and Sequoia Capital. Post the round, the startup...
Russia’s VTB Group gets rights to sell 10.71% stake of Zee to recover loan dues
VTB Capital PLC, the investment management arm of Russia-based state-run financial services giant VTB Group, on Tuesday said that it has obtained certain lender protection rights in Essel Media Ventures Ltd. and has...
Xander sets up $250 mn industrial realty fund to acquire logistics assets
Singapore’s Xander Investment Management has set up a $250 million industrial real estate venture to purchase assets in the high-growth logistics and e-commerce sectors at industrial corridors across major cities in...
