Sesa Goa, which on Thursday announced it was buying the mining assets of the Dempo group for Rs 1,750 crore, will raise Rs 600 crore through a preferential allotment of shares to Vedanta Resources plc, its parent...
Gitanjali group in talks to pick up major stake in MobileNXT
Jewellery major Gitanjali group is in advanced talks to pick up a major stake in the Bangalore-based mobile retail chain, MobileNXT. Confirming this to BusinessLine, Mr Vijay Menon, Founder Director, MobileNXT, said...
Phillips Electronics gets ready with second buyback offer
Phillips Electronics India (formerly Philips India) got its second buyback offer approved by the majority shareholders at its 79th annual general meeting here on Friday. The first buy back offer after delisting could...
Consolidating banks
The Finance Minister has stressed the importance of consolidation in the banking industry, which basically means merging some of the banks with each other so that the capital base and business of the new identity are...
Sesa Goa to buy Dempo’s mining assets for Rs 1,750 cr
Sesa Goa, a Vedanta Group company, has agreed to acquire the mining assets of Dempo Group for Rs 1,750 crore in an all-cash deal. The assets include mining leases, rights and related infrastructure in Goa. Sesa Goa on...
Past acquisitions come to haunt Satyam
The street may have given thumbs-up to the better-than-expected financial health of Satyam Computer Services, but the troubles for the scam-hit firm are far from over. Apart from being locked in class-action lawsuits...
RInfra arrangement for demerger
The shareholders of Reliance Infrastructure Ltd (RInfra) on Tuesday approved the Scheme of Arrangement (Scheme) for demerger of the six divisions of the company. The demerger was carried according to the Sections 391 to...
Dorf Ketal acquires Sanmar unit
Dorf Ketal Chemicals has acquired Intec business from Sanmar Specialty Chemicals Ltd. Intec is leading player in organic titanates, poly vinyl formal and poly isocyanates, and has its manufacturing unit in Dadra. Dorf...
Sanlam open to hiking stake in Shriram Life
South African financial services firm Sanlam has said it is open to increasing its stake in Shriram Life Insurance, a joint venture with the Shriram Group. At present, the Sanlam Group holds 26 per cent stake in the...
NMDC to acquire majority stake in KIOCL
National Mineral Development Corporation (NMDC) will acquire a majority stake in the troubled KIOCL (formerly Kudremukh Iron Ore Co Ltd). Addressing his first press conference since becoming the Union Minister of Steel...
Indus Hospitality to make open offer for Sterling Holiday
Indus Hospitality Fund and India Discovery Fund have together announced an open offer for the shares of Sterling Holiday Resorts Ltd at Rs 36.25 a share, to acquire 22.86 per cent of the company’s existing equity...
RCom, Kribhco in joint venture
As part of its rural thrust, Reliance Communication has formed a joint venture with Krishak Bharti Cooperative Ltd (Kribhco) for offering value-added services to mobile users in villages. The joint venture, called...
