BUSINESS
Tollywood superstar Allu Arjun-backed streaming platform Aha looks to onboard strategic investor
The streaming platform reported a revenue of Rs 122.08 crore, a growth of 61 percent over the revenue of Rs 76.02 crore recorded in the previous financial year. However, losses increased by 31 percent over the previous fiscal to Rs120.94 crore.
BUSINESS
Conagra in talks to sell controlling stake in India biz Agro Tech Foods
Conagra’s 51.77 percent stake in Agro Tech Foods is worth Rs 1,123 crore at the current market price of its shares. Rakesh Jhunjunwala family holds an 8.14 percent stake in the company
BUSINESS
Sebi summons former directors of Zee for questioning over alleged funds diversion
The markets regulator is broadening its probe into funds diversion at Zee and is now scrutinising more entities that have conducted business with the company in recent years, sources said. Zee dismissed allegations of accounting irregularities as false
BUSINESS
Anonymity gone, India Inc may now embrace Electoral Trusts: Experts
While there are no restrictions on companies making donations to political parties directly, corporate houses keep such donations off the balance sheet to avoid unwanted scrutiny
BUSINESS
Carlyle eyes exit from Airtel’s data center business
Carlyle acquired a 24% stake in Nxtra Data, India’s largest data centre operator, for around Rs1,780 crore ($235 million) in 2020
BUSINESS
Ontario Teachers and Chrys Capital team up to bid for Healthium Medtech
The transaction is likely to be upwards of Rs 6,000 crore which is almost a three-fold jump in valuation from the acquisition price that Apax Partners paid while acquiring the company in 2018 from TPG Capital.
BUSINESS
Akasa Air plans to raise $300 million in structured credit
The airline had earlier looked to raise equity but the plan changed to raising structured debt. Akasa in January ordered 150 Boeing 737 Max aircraft worth about $20 billion
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
