Silicon Valley Bank’s parent company filed for bankruptcy after worry spread among its long-established customer base of tech startups, prompting regulators to seize the firm’s banking unit. SVB Financial Group listed...
NCLT lets IPRS withdraw its insolvency plea against ZEE
The National Company Law Tribunal (NCLT) has allowed the Indian Performing Right Society Ltd (IPRS), an operational creditor of Zee Entertainment Enterprises, to withdraw its insolvency petition. The move will bring the...
Samvardhana Motherson to acquire Fritzmeier Motherson Cabin for ₹110.7 cr
Samvardhana Motherson International Ltd (SAMIL) announced that the board has approved the acquisition of remaining 50 per cent stake of Fritzmeier Motherson Cabin Engineering Private Limited from F Holdings GmbH...
PhonePe raises $200Mn in additional funding from Walmart
PhonePe, one of India’s largest fintech platforms, today announced it has raised additional $200 million in primary capital from Walmart, at a pre-money valuation of $12 billion. This new funding comes as a part of...
Cipla to sell stake in Uganda arm for $25-30 million
Cipla Ltd, and its wholly owned subsidiaries, Cipla (EU) Limited, and Meditab Holdings Limited, have signed a Share Purchase Agreement with Africa Capitalworks SSA 3 for the sale of a 51.18% stake in Cipla Quality...
GIC, ADIA buy Sona stake from Blackstone
Singapore’s sovereign wealth fund GIC, Abu Dhabi Investment Authority (ADIA), and a clutch of other investors purchased shares of Sona BLW Precision Holding (Sona Comstar), as private equity Blackstone Inc. sold its 20...
Abu Dhabi’s Royal Group mulls takeover of SVB’s UK unit
Royal Group, an investment firm controlled by a top Abu Dhabi royal, is considering a possible takeover of the UK arm of Silicon Valley Bank following its collapse last week, according to people familiar with the matter...
Blackstone to sell stake in Sona Comstar for $640 mn
Blackstone, the world’s largest alternative asset manager, is selling its remaining stake in Sona BLW Precision Forgings Ltd (Sona Comstar) for $640 million, two people aware of the deal said. The sale of shares through...
Gautam Adani to sell stake in cement business for $450mn to reduce debt: Report
Gautam Adani, the chairperson of the Adani Group, is planning to sell stake in the cement business for $450 million with aim to reduce debt, reported Financial Times. Adani is looking to sell 4-5 per cent stake in...
Reliance Industries completes acquisition of two polyester firms
Reliance Industries subsidiary Reliance Polyester Limited has completed the acquisition of the polyester business of Shubhalakshmi Polyesters Limited and Shubhlaxmi Polytex Limited. RIL informed the investors about this...
Torrent moves SC after NCLAT verdict favouring RCap lenders
Torrent Investments, one of the highest bidders in Reliance Capital (RCap) insolvency, moved Supreme Court challenging a recent order by National Company Law Appellate Tribunal (NCLAT), a court listing showed .“The...
Adani Group acquires NDTV promoters’ additional 27.26% stake for ₹602 cr
Billionaire Gautam Adani now owns a majority stake in Prannoy and Radhika Roy-promoted news broadcasting company New Delhi Television Ltd. On Friday, Adani Enterprises, through its indirect subsidiary RRPR Holdings...
