The Reserve Bank of India (RBI) is currently assessing several potential bidders who have expressed interest in acquiring a majority stake in the government-owned IDBI Bank Ltd, according to three sources familiar with...
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Future Retail’s creditors seek 90 days extension for concluding insolvency resolution process
Lenders of debt-ridden Future Retail Ltd (FRL) has sought an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. The resolution professional of FRL has filed an...
Alibaba slumps on report of SoftBank plan to sell most of stake
Chinese e-commerce leader Alibaba Group Holding Ltd. slumped in Hong Kong, after the Financial Times reported that its early backer SoftBank Group Corp. is moving to sell the majority of its stake in the company. The...
Govt to invite bids for Shipping Corporation of India in May: Report
The Indian government is set to invite financial bids for the privatisation of the Shipping Corp of India Ltd (SCI) next month. This move comes after years of delay in selling the state-run company, two government...
Manipal Hospitals closes in on KIMS Health
Manipal Hospitals, backed by Singapore state investor Temasek, is close to acquiring Kerala-based hospital chain KIMS Health for ₹3,500-4,000 crore, two people familiar with the development said. Manipal intends to buy...
Glenmark weighs sale of API business to pare debt
Glenmark Pharmaceuticals Ltd is considering selling a majority stake in Glenmark Life Sciences to pare debt, said two people familiar with the development. Kotak Mahindra Capital Co. Ltd has been hired to run the sale...
Reliance Retail, Jindal Power among 49 companies to submit EoIs for Future Retail
Debt-ridden Future Retail Ltd has released a provisional list of eligible prospective resolution applicants, which have submitted their expression of interest to submit a resolution plan. Reliance Retail, WHSmith Travel...
ONGC increases stake in Mangalore SEZ to 49%
State-owned Oil and Natural Gas Corporation (ONGC) said that it has bought 11,520,000 shares of Mangalore SEZ Limited from IL&FS. The company in its regulatory filing said it has acquired 1,1520,000 equity shares of...
Nazara’s subsidiary acquires 73% stake in Pro Football Network for $1.8 mn
Listed gaming startup Nazara Technologies Ltd’s announced its subsidiary Sportskeeda has completed the acquisition of 73.27 per cent stake in Pro Football Network Inc. Sportskeeda Inc, is a wholly owned subsidiary of...
Edelweiss Financial Services to raise ₹400 crore via NCD issue
Edelweiss Financial Services Limited (EFSL) launched the second tranche of Secured Redeemable Non-Convertible Debentures (NCDs) worth ₹400 crore. The proceeds will be used to pare debt and for general corporate...
Insurtech startup InsuranceDekho acquires Verak, says CEO Ankit Agrawal
InsuranceDekho’s founder and CEO Ankit Agrawal Tuesday said the leading Indian insurtech startup has acquired Verak, a Mumbai-based SME insurance distribution company. The InsuranceDekho’s founder and CEO took to...
Nazara’s subsidiary acquires 51% stake in of Branded Pte. Ltd
Listed gaming startup Nazara Technologies Ltd’s on Tuesday announced its subsidiary Nodwin International Pte. Ltd has signed definitive agreements for the acquisition of 51 per cent of the share capital of Branded Pte...
