BUSINESS
Subhash Chandra’s statements on ZEEL stake hike under Sebi scrutiny: Sources
In recent statements, Subhash Chandra has said that promoters of ZEEL will increase their stake in the company to 26 percent from the current 4 percent. Rules mandate that listed companies should disclose material events to shareholders first.
BUSINESS
Shareholders write to Zee board seeking details of Sony’s termination letter
Zee-Sony merger: The shareholders, comprising foreign portfolio investors (FPI), mutual funds and retail investors, have asked the board why they were not given the true picture of the faltering merger process with Sony
BUSINESS
Overseas lenders file insolvency proceedings against Byju’s in India
Byju’s secured $1.2 billion in debt through a term loan facility from a consortium of global investors in November 2021 and is embroiled in a legal dispute with the lenders in the US
BUSINESS
Zee's major investors seek regulatory intervention as Sony merger stalls
Investors may call for shareholders’ vote to replace the board if Punit Goenka refuses to step down
BUSINESS
Adani Group may keep around 7% in joint venture Adani Wilmar
While Adani Group has, in principle, decided to reduce its stake in the business, it still wants to retain operational control over Adani Wilmar
BUSINESS
Exclusive: 35 senior partners to take early retirement from Deloitte India
The move is part of a leadership transition in the firm which is looking to move up the value chain in the consulting business and expand into niche areas.
TRENDS
Wockhardt has more antibiotics in the pipeline: Dr Habil Khorakiwala
Wockhardt could be more of a research company in five years than what it is today.
BUSINESS
Tata Group initiates talks for public listing of Tata Autocomp Systems
The discussions are at an early stage and talks are currently focused on the Tata group entities that will divest their stakes and also the overall stake which will be sold in the IPO.
BUSINESS
More than 97% of bondholders say yes to Vedanta's bond restructuring plan
With this, Vedanta has achieved the required consent from at least two-thirds of the bondholders to proceed with the restructuring plan
BUSINESS
Adani Group’s fundraising plans get Supreme Court booster dose
The verdict will help the Adani group to pool more funds from international lenders to refinance and repay its debt, say sources. The group is currently working to create a liquidity pool of cash and cash equivalents to meet bond repayments this year.
BUSINESS
Tata Sons taps private equity funds for a stake sale in Tata Digital
Tata Sons plans to use part of the funds to deleverage the company balance sheet and also infuse fresh equity in units that are loss-making and need constant liquidity.
BUSINESS
Wadia Group asserts no impact on finances from Go First bankruptcy
Indian aviation updates: Although there are currently no regulatory restrictions on domestic banks lending to other group entities of bankrupt companies, such transactions are difficult to execute given the enhanced credit risks at the group level, according to industry experts.
BUSINESS
How 80% jump in Vodafone Idea’s share price may delay its fundraising plan
India telecom news: Given the sustained rally in the share price of the company in the past six months potential investors feel that there may not be much upside left for a convertible structure transaction.
BUSINESS
Minority shareholders reject appointment of Dish TV independent directors
The latest flare-up is part of an ongoing rift between the promoter family and minority shareholders over alleged lapses in corporate governance
BUSINESS
TPG weighs $750 million investment in Greenko’s green ammonia business
TPG Rise fund, one of the most active investors in India’s clean energy space, has signed exclusivity pact with Greenko
BUSINESS
Kalyan Jewellers wants to chart an independent course for ‘ Candere’ brand
The company plans to double the number of stores in the next two years to try and come close to Titan's scale, although a gap may still persist as Titan is adding 30-40 showrooms per year.
BUSINESS
Exclusive | Adani group raises $200 million to refinance ACC and Ambuja loan
The group has secured loan from Qatar National Bank through an agreement signed last week
BUSINESS
Exclusive | Prataap snacks promoters in talks with potential buyers for sale of controlling stake
The negotiations are being led by Sequoia capital, which owns close to 47 percent of the Indore-based company. The company's founders, the Mehta and Kumat families, which control a 22 percent stake, may also exit in a stake sale.
BUSINESS
Vedanta Resources raises $1.25 billion loan from global private credit lenders
The company said the loan was raised from reputable financial institutions without disclosing the names of the lenders.
BUSINESS
How Adani Group plans to repay $1.9 billion to bondholders
The conglomerate is seeking to settle $1.4 billion in cash and refinance the rest using long-term borrowings
BUSINESS
SpiceJet gets board nod to raise Rs 2,254 crore from shares, warrants
Currently, SpiceJet's promoters, led by Ajay Singh, hold a 56.5 percent stake in the company. Of this, 37.9 percent is pledged with various lenders. The airline posted a net loss of Rs 431.54 in Q2FY24, compared to a net loss of Rs 837.8 crore in the same period a year ago.
BUSINESS
Ching's Secret noodles maker eyes IPO as stake sale talks stumble on valuations
Capital Foods Limited was initially seeking a valuation of over Rs 12,400 crore.
BUSINESS
Exclusive: Persistent Systems in talks to acquire NSE's IT arm
The National Stock Exchange has put NSEIT on the block following the recommendations of the Sebi-appointed Mahalingam Committee
BUSINESS
JSW Paints explores structured credit deal after talks with PE investors stall
The Sajjan Jindal family owned division is seeking a valuation of $2 billion
