Khosla Ventures-backed Novopay Solutions Pvt. Ltd is in the process of demerging its retail business. The company will now only house its banking software business, which was recently rebranded as ‘Trustt’, chairman...
DS Group completes acquisition of Viceroy Hotels
The Dharampal Satyapal (DS) Group has completed the acquisition of Viceroy Bangalore Hotels Pvt. Ltd as part of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, said a lawyer aware...
IDBI Bank moves NCLAT on ZEE
IDBI Bank on Thursday moved the National Company Law Appellate Tribunal (NCLAT), challenging a National Company Law Tribunal order of 19 May, that rejected IDBI Bank’s plea to initiate insolvency proceedings against Zee...
L&T Innovation Campus board approves merger with L&T Seawoods
The Board of Directors of L&T Innovation Campus (Chennai) Limited (LTICCL) at its meeting held on July 19, 2023, has approved a scheme of arrangement for merger of LTICCL with L&T Seawoods Limited (LTSL). LTICCL...
Vedanta makes a fresh bid to sell steel biz ESL
Billionaire Anil Agarwal’s Vedanta Ltd is seeking to sell ESL Steel Ltd, formerly known as Electrosteel Steels Ltd, after acquiring the asset for ₹5,320 crore through a bankruptcy resolution process five years ago, two...
NHPC eyes IPO, stake sale of clean energy arm
State-run NHPC Ltd plans to take its clean energy subsidiary NHPC Renewable Energy Ltd (NREL) public or sell its stake to strategic investors through private placements in two-three years, Rajendra Prasad Goyal...
Hindustan Zinc stake sale likely to be delayed by government: Report
Indian government may delay its decision to sell its stake in Hindustan Zinc until a turnaround in the sector’s fortunes, following the advise of merchant bankers, two government sources told Reuters. However, one...
NCLT to hear lessors’ pleas for SpiceJet insolvency in August
The National Company Law Tribunal (NCLT) has postponed the hearing of insolvency pleas against budget carrier SpiceJet, granting the airline 10 days to file a rejoinder. The pleas were filed by aircraft lessors...
Glencore to buy remaining 18% stake in PolyMet Mining
PolyMet Mining Corp Monday said it has accepted Glencore Plc’s proposal to buy the remaining 18% stake in the company, gaining full control of the mine development company, for about $73 million, reported Reuters...
JSW Steel mulls bidding 20% stake in Canada’s Teck coal unit: Report
India’s leading steel producer JSW Steel Ltd is mulling a bid for as much as a 20 percent stake in Canada’s Teck Resources Ltd.’s steelmaking coal business, reported Bloomberg on 15 July citing sources. According...
Swiggy enters retail food and grocery segment with LYNK acquisition
Online food delivery startup Swiggy said it has acquired LYNK Logistics Ltd, a tech-led FMCG retail distribution company, marking its foray into food and grocery retail market. The company did not disclose the financial...
Bharti Airtel buys 20.6% stake in Lavelle Networks, total stake will reach 45.6%
India’s leading telecom firm, Bharti Airtel has acquired additional 20.6% stake in the SD-WAN startup, Lavelle Networks. With this, Bharti Airtel’s total ownership will increase to 45.6% in the SD-WAN...
