The National Company Law Tribunal (NCLT) on Tuesday approved the ₹9,650 crore resolution plan of IndusInd International Holdings Ltd (IIHL), a Hinduja Group entity, to acquire bankrupt Reliance Capital Ltd, marking a...
Zurich Insurance company to acquire 70% stake in Kotak General for ₹5,560 crore in single tranche
Zurich Insurance Company will acquire a 70 per cent stake in Kotak General Insurance Company Limited for ₹5,560 crore in a single tranche, informed Kotak Mahindra Bank in a regulatory filing to the stock exchanges on...
Prataap Snacks issues clarification: Yellow Diamond parent ‘not in negotiations’ with ITC for 47% stake sale
Prataap Snacks on Thursday rejected media reports that ITC is planning to buy a 47% stake in the company. The Yellow Diamond parent firm issued a clarification in which it said that it is not in any negotiations with...
Tech Mahindra acquires 100% stake in Orchid Cybertech for $3.27 million
IT services and consulting firm Tech Mahindra, announced on Tuesday, February 20, that it has completed the acquisition of a 100% stake in Orchid Cybertech Services (OCSI) through its wholly-owned subsidiary for a total...
Whirlpool likely to sell 24% stake in its Indian unit via block deal
Whirlpool of India Ltd’s promoter, Whirlpool Mauritius Ltd, will sell 24% stake worth $451 million ( ₹3,745 crore) in the Indian appliance maker through a block deal on Tuesday, as per a term sheet reviewed by Mint. The...
ZEE shareholder Mad Man Film Ventures files fresh application in NCLT against Sony
ZEE shareholder Mad Man Film Ventures has filed another application before the National Company Law Tribunal (NCLT) on Friday stating that Sony cannot pre-empt proceedings while the matter is pending before the tribunal...
SoftBank sells majority stake in Paytm before regulatory scrutiny causes stock dive
SoftBank Group Corp. sold a majority of its stake in Paytm before regulatory scrutiny caused the once-celebrated Indian fintech firm’s shares to dive, according to the Vision Fund’s executive managing partner, as per a...
Tata Steel completes proposed amalgamation of five of nine subsidiaries
Tata Steel Ltd announced that it has successfully amalgamated five of its nine strategic businesses, in line with its long-term strategy and commitment to simplify its business portfolio. In an exchange filing on...
Cred acquires Kuvera, enters wealth-management space
Fintech unicorn Cred said it will acquire online wealth-management platform Kuvera in a cash-and deal to enter the wealth-management space. The size of the deal was not disclosed. “Kuvera is extremely popular...
Govt likely to push for Air India units’ stake sale in FY25
The Centre will make a push for selling its shares in Air India’s erstwhile subsidiaries in FY25, said a top official, but the privatization of Container Corporation of India is unlikely to see any traction soon. “The...
Byju’s US unit, Alpha files for bankruptcy in Delaware
Alpha Inc, a US unit of Byju’s, once one of India’s most valued edtech startups, was put into bankruptcy in the US by a court-appointed agent who took over the shell company after it defaulted on $1.2 billion in debt...
Naspers, Temasek get CCI approval to purchase stakes in PharmEasy
Fair trade regulator CCI on Tuesday said it has cleared the proposals of purchasing stakes in PharmEasy by various entities, including South Africa-based Naspers Group and Singapore’s sovereign wealth fund Temasek...
