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
BUSINESS
Vedanta Resources set to close $1.2 billion private credit funding next week
Cerberus Capital leads the funding round with a $300 million cheque.
AUTOMOBILE
China’s SAIC is the ultimate winner in MG Motor India deal with JSW Group
MG Motor’s business has been valued at Rs 8,000 crore and JSW will invest around Rs 2,800 crore for a 35 percent stake in the joint venture, where MG Motor India’s entire operations are expected to be transferred
BUSINESS
UltraTech to take over Kesoram Industries’ cement biz; sources peg enterprise value at Rs 7,600 cr
The transaction is expected to be completed within 9-12 months, subject to regulatory approvals
BUSINESS
Exclusive: Spicejet promoter Ajay Singh in talks with credit funds to raise $100 million
Several global funds are in discussions and talks are currently focussed around the pricing of the loan, which is likely to be structured credit transaction, sources aware of the ongoing negotiations told Moneycontrol on condition of anonimity
