BUSINESS
Power Grid may launch landmark Rs 7,700 crore InvIT IPO on April 29, first ever by a PSU in India
The move comes at a time when the government has set a disinvestment target of Rs 1.75 lakh crore for FY22 and is betting big on initial public offerings (IPOs) by Life Insurance Corporation and Air India IPOs.
BUSINESS
Govt brings ordinance for pre-packaged insolvency resolution of MSMEs under IBC
The ordinance aims to make insolvency resolution easier, faster and cost-effective for MSMEs using the ‘pre-pack’ process. It will act as an efficient alternative insolvency resolution process for MSMES under the IBC.
BUSINESS
Budget 2021: FDI cap hike in insurance sector with conditional foreign ownership and control to boost M&A
Experts believe the announcement is a long-overdue measure and would help to infuse foreign capital into a long gestation sector like insurance
BUSINESS
Power Grid files for $1.1 billion InvIT IPO, first ever by a PSU
This is the first attempt at an initial public offering of an InvIT by a state owned firm. The private sector has seen two InvIT’s so far, namely IndiGrid InvIT & IRB Infra InvIT
BUSINESS
Gland Pharma gets Sebi approval for Rs 6,000-crore IPO, set for first listing of an Indian firm with a Chinese parent
The IPO is a mixture of primary and secondary issue of shares with both China’s Fosun group and the founders of Gland Pharma due to dilute shares. Gland Pharma may look to launch the IPO in November 2020
BUSINESS
Exclusive | Goldman Sachs Private Equity in talks to buy minority stake in IPO-bound Biocon Biologics
If the deal — which may value the firm in excess of $3.5 billion — fructifies, it would mark the third successive investment in 2020 for Kiran Mazumdar Shaw-led Biocon Biologics
BUSINESS
Five things to know about the latest twist in the ongoing Tata vs Mistry feud
Sources close to the Shapoorji Pallonji Group peg the valuation of their 18.37 per cent stake at Rs 1,78,459 crore, including the value of the brand as well as the listed and unlisted entities
BUSINESS
Tata vs Mistry: Shapoorji Pallonji Group looks to part ways with Tatas
Separation from Tata Group is necessary to protect interest of stakeholders, says Shapoorji Pallonji Group.
BUSINESS
Exclusive | Spice maker Badshah Masala completes internal rejig as promoters part ways
Hemant Jhaveri acquires 24 percent stake held by Kailash Jhaveri. The Badshah Masala stake sale is the third successive M&A deal in the domestic branded spices segment in 2020 after the twin buyouts of Sunrise Foods by ITC and Eastern Condiments by Norway’s Orkla through its arm MTR Foods
BUSINESS
Ekta Kapoor on challenges for streaming peer Netflix, Direct OTT release controversy and content regulation
Ekta Kapoor speaks no holds barred on self-censorship, OTT releases and what's in store for future for Balaji Telefilms.
BUSINESS
Open to strategic or financial partner who can see value in business, says Ekta Kapoor
Our main game in the next five years is to grow market, says joint Managing Director of Balaji Telefilms.
BUSINESS
HDFC appoints record 19 merchant banks for mega Rs 14,000-crore fund raise
This is arguably the biggest consortium of merchant bankers/advisors ever taken on board by an Indian corporate for fundraising purposes in the equity capital markets and sets a new record for India Inc.
BUSINESS
Rossari Biotech IPO to open on July 13; price band of Rs 423-425 per share
On July 3, 2020, Moneycontrol had reported that the Rossari Biotech is all set to be the first listed company in the lockdown phase.
BUSINESS
Exclusive | Rossari Biotech to end IPO hiatus, likely to be first listed company in COVID-19 lockdown
It has been 108 days since an Indian company made its debut on Dalal Street.
BUSINESS
Exclusive: Poonawalla family's Serum Institute looks to raise $1 billion for big-ticket COVID-19 vaccine project
Investment banks Goldman Sachs, Citi and Avendus Capital have been engaged as advisors for the process by the privately held vaccine manufacturer, say sources.
BUSINESS
Exclusive: HDFC joins fundraising bandwagon, looks to collect around Rs 12,000 crore
The QIP component is slated to be around Rs 7,000 crore and the convertible component around Rs 5,000 crore
BUSINESS
Exclusive | Uday Kotak to launch Rs 6,000 crore mega deal to comply with RBI settlement pact
The move will bring the curtains down on an extended standoff between the regulator and the bank over the reduction in promoter shareholding.
BUSINESS
ITC to spice up FMCG portfolio with buyout of Kolkata-based Sunrise Foods
Moneycontrol was the first to report that both parties had initiated exclusive negotiations on the deal in March
BUSINESS
Anil Agarwal set to delist Vedanta from domestic bourses
Companies usually opt for delisting when they seek to expand or restructure, are acquired by others, or the promoters want to raise their stake
BUSINESS
Exclusive | Cipla leads race for Wockhardt's business divisions
Wockhardt, wants to reduce its debt burden and is seeking a valuation between Rs 2,400 crore and Rs 2,700 crore
BUSINESS
SBI Cards to file DRHP next week for Rs 9,000 cr IPO, FY20’s biggest
State Bank of India holds a 74 percent stake in the company while private equity giant Carlyle holds the remaining 26 percent.
BUSINESS
Exclusive: Avenue Supermarts promoters plan to trim stake by Feb 2020 to meet SEBI rule
The promoters, led by veteran stock market investor Radhakishen Damani, hold 80.21 percent stake in the company. SEBI's minimum public shareholding (MPS) rule for listed companies stipulates that promoters cannot own more than 75 percent
BUSINESS
Ola valued at $10 billion in ongoing funding round
It has already been reported that Microsoft will acquire nearly five per cent in ANI Technologies (also known as Ola)
BUSINESS
India Inc should not ignore ‘culture’ in M&A scenarios: Bain and Company
Dinkar Ayilavarapu, Partner, Bain & Company, warns corporates that culture, which can have a major impact on deals, is under-rated in Indian M&As.
