Country’s largest lender SBI has initiated insolvency proceedings in the National Company Law Tribunal (NCLT) against Bajaj Hindusthan Sugar, the company said in a regulatory filing on Tuesday. The petition has...
Centre to rework IBC reform proposals
The government is set to further rework reforms planned in the Insolvency and Bankruptcy Code (IBC) to step up the pace of salvaging sinking businesses and open up the distressed assets market in India to overseas...
Quadria Capital eyes Concord Biotech exit
Healthcare-focused private equity fund Quadria Capital will sell its entire 20% stake in active pharmaceutical ingredients (API) maker Concord Biotech in the company’s initial public offering (IPO). Rare Enterprises...
Shell completes acquisition of Sprng Energy
Shell plc has completed the acquisition of Solenergi Power Private Ltd. and with it the Sprng Energy group of companies from Actis Solenergi Limited (Actis). On 29 April, Shell Overseas Investment B.V., a wholly owned...
Large user base in India will bring global M&A under CCI
Global mergers and acquisitions are set to come under the scrutiny of the Competition Commission of India (CCI) if the parties meet a specified customer base in India that the antitrust regulator will specify after...
William Penn acquires Sheaffer brand
William Penn, a multi-brand retailer and distributor of writing instruments and accessories, said it has acquired Sheaffer, a 110-year-old iconic American brand, particularly known for its premium fountain pens. The...
Amazon in talks to buy logistics unicorn Ecom Express
Amazon.com Inc. is in initial talks to acquire more than 51% in logistics unicorn Ecom Express Ltd for $500-600 million, two people aware of the plans said, as the e-commerce giant aims to build an in-house logistics...
Nykaa buys digital lifestyle platform Little Black Book
Online fashion retailer Nykaa has agreed to acquire digital lifestyle guide Little Black Book for an undisclosed sum. Nykaa, run by FSN E-commerce Ventures Ltd, will acquire the content-led shopping platform in an all...
Sebi orders forensic audit of Future Retail’s financials
The Securities and Exchange Board of India (Sebi) has ordered a forensic audit of the financials of Future Retail, the company told the stock exchange on Thursday. Future Consumer, a subsidiary, said Sebi has written to...
ARCIL bids for Yes Bank bad loan
Asset Reconstruction Co. of India (ARCIL) has emerged as the single challenger bidder to acquire Yes Bank’s ₹48,000 crore bad loan portfolio, two people aware of the matter said. The Avenue Capital-backed ARC has also...
TD Bank nears deal to buy Cowen
Toronto-Dominion Bank is close to a more than $1 billion deal to buy investment bank Cowen Inc., according to people familiar with the matter. A deal valuing Cowen at around $39 a share could be unveiled as soon as...
ITC exits lifestyle retailing business
FMCG major, ITC has exited its lifestyle retailing business. The decision was made after a strategic review of its business portfolio. In June this year, ITC’s chairman hinted at key changes in the lifestyle...
