Axis Bank may bring a strategic investor for Axis Finance or even consider a public listing of the non-banking subsidiary, a top executive said. The decision was prompted by the banking regulator’s discomfort with...
Mint
Wells Fargo to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont
Wells Fargo on Tuesday agreed to sell its non-agency third-party Commercial Mortgage Servicing business to Trimont, a move that will make the firm the largest servicer of commercial real estate securitized debt in the...
Cyient approves sale of 14.50% stake worth 1.15 crore shares in Cyient DLM via block deal
Information technology (IT) services company Cyient announced on Tuesday, August 20, that its board approved the sale of a 14.5 per cent stake in its subsidiary Cyient DLM Ltd through a block deal. Cyient plans to close...
AMD buys AI equipment maker for nearly $5 billion, escalating battle with Nvidia
Advanced Micro Devices agreed to pay nearly $5 billion to buy ZT Systems, a designer of data-center equipment for cloud computing and artificial intelligence, bolstering the chip maker’s attack on Nvidia’s dominance in...
NCLT approves merger of TCNS Clothing into Aditya Birla Fashion and Retail
Aditya Birla Fashion and Retail Ltd (ABFRL) said that the National Company Law Tribunal (NCLT) has approved the merger of the company with TCNS Clothing. The Scheme of Amalgamation (by way of Merger by Absorption) among...
Morgan Stanley in talks to exit investment in Manna Foods
Morgan Stanley’s private equity arm has been looking to sell all or part of its stake in Manna Foods as the business has struggled to grow sustainably and increase profits in recent years, three people familiar...
Adani in talks to buy Reliance Power’s 600 MW thermal plant
Adani Power Ltd has begun talks to acquire the 600 MW Butibori thermal power project in Nagpur once owned by Anil Ambani’s bankrupt Reliance Power Ltd, two people aware of the matter said. A deal is likely in the...
Antfin Singapore plans to sell 1.54% stake in Zomato worth ₹3,420 crore
Antfin Singapore Holdings is looking to sell a 1.54% stake in Zomato in a block deal valued at $408 million, deal terms reviewed by Mint show. The shares will be sold at a floor price of ₹251.68 per share, the terms...
JSW Neo, Sembcorp, ONGC shortlisted to acquire NIIF backed Ayana in $800 million deal, binding bids by 19 August
State-run Oil and Natural Gas Corp. (ONGC), JSW Group’s JSW Neo Energy, and Singapore’s Sembcorp Industries Ltd have been shortlisted to submit binding bids to buy a significant majority stake in Ayana Renewable Power...
LIC decreases stake by 2 percent in air conditioners giant Voltas
Life Insurance Corporation of India (LIC) decreased its equity stake shareholding in Voltas from 22,685,279 shares to 15,731,283 shares or from 6.856 per cent paid up capital of the company to 4.754 per cent — a drop of...
JSW Steel to buy 66.67% in Australian coking coal miner for $170 million
JSW Steel will acquire the controlling stake in an Australian miner for $170 million as India’s largest steelmaker seeks to secure the supply of coking coal—a key raw material that is scarce in India—to meet its...
NCLT directs RBI, DIPP to expedite approvals for Hinduja’s takeover of Reliance Capital
The National Company Law Tribunal (NCLT) on Monday instructed the Reserve Bank of India (RBI) and the Department of Industrial Policy and Promotion (DIPP) to expedite approvals necessary for Hinduja-owned IndusInd...
