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MC Exclusive | Max Financial Services promoter to sell stake as per sources, chairman Analjit Singh denies

BUSINESS

MC Exclusive | Max Financial Services promoter to sell stake as per sources, chairman Analjit Singh denies

Analjit Singh is said to have started a stake sale process and expects a valuation of over Rs 27,000 crore.

Poonawalla Fincorp puts housing finance arm on the block: Sources 

BUSINESS

Poonawalla Fincorp puts housing finance arm on the block: Sources 

Sources suggest that the ask price for Poonawalla Housing Finance by the parent company is 3-times the net worth of the arm which was reported as Rs 1,100 crore in Sep-end 2022

MC Exclusive | Bharti Enterprises to exit ICICI Lombard via block deal soon, say sources

BUSINESS

MC Exclusive | Bharti Enterprises to exit ICICI Lombard via block deal soon, say sources

Bharti General Ventures owns 3.7% stake in ICICI Lombard and an investment bank is in the process of building the book for a block trade, sources told Moneycontrol

Exclusive | Suven Pharma on the block, in talks with PE, strategic firms for control deal: Sources

BUSINESS

Exclusive | Suven Pharma on the block, in talks with PE, strategic firms for control deal: Sources

Suven Pharma was demerged from Suven Life in 2020

Exclusive | Zuari Agro looks to offload Mangalore Chemicals shares to Chambal Fertilisers: Sources

BUSINESS

Exclusive | Zuari Agro looks to offload Mangalore Chemicals shares to Chambal Fertilisers: Sources

Zuari Agro had bought Mangalore Chemicals in 2015 and is now looking to sell shares and majority control to raise funds to repay debt, sources suggest to Moneycontrol

EXCLUSIVE | DG already has search and seizure powers: CCI Chairperson on Competition (Amendment) Bill

COMPANIES

EXCLUSIVE | DG already has search and seizure powers: CCI Chairperson on Competition (Amendment) Bill

"The proposed reform will balance the need for standstill requirement and the compelling element of time sensitivity in market purchases. It is a major step towards ease of doing business," Ashok Kumar Gupta, the CCI Chairperson added.

‘W’ brand owner TCNS Clothing on the block, shareholders look to exit: Sources

BUSINESS

‘W’ brand owner TCNS Clothing on the block, shareholders look to exit: Sources

Promoters with a 32.25% stake in the company may also look to exit if there is a buyer interested in acquiring a majority stake, sources indicate.

Yes Bank Board: Sunil Kaul and Shweta Jalan likely nominees from Carlyle and Advent

BUSINESS

Yes Bank Board: Sunil Kaul and Shweta Jalan likely nominees from Carlyle and Advent

Sunil Kaul is managing director and financial services sector lead for Carlyle Asia and Shweta Jalan is managing partner at Advent International who heads India business for the private equity firm.

Zomato's shares sale likely in tranches as lock-in for pre-IPO investors ends: Sources

BUSINESS

Zomato's shares sale likely in tranches as lock-in for pre-IPO investors ends: Sources

Sources share with Moneycontrol that buyer interest is tepid and new investors may be ready to buy at a discount to current market price of Zomato shares

MC Exclusive | RBL Bank investors likely to approve new CEO, seek board nominee: Sources

BUSINESS

MC Exclusive | RBL Bank investors likely to approve new CEO, seek board nominee: Sources

Baring Asia, CDC and Gaja Capital are likely to back new MD and CEO R Subramaniakumar, but want to nominate one or more seasoned bankers to the board to strengthen the private lender and protect their investments

Exclusive: Singapore's GIC in talks to buy Aditya Birla Fashion stake worth Rs 2,330 crore

BUSINESS

Exclusive: Singapore's GIC in talks to buy Aditya Birla Fashion stake worth Rs 2,330 crore

The board of Aditya Birla Group’s fashion arm will meet tomorrow in this regard

Yes Bank’s ARC deal in final stages, Cerberus & JC Flowers in the race: Sources

COMPANIES

Yes Bank’s ARC deal in final stages, Cerberus & JC Flowers in the race: Sources

Two separate deals to fully resolve Yes Bank’s bad debt issue and capital requirements is in the works, sources shared with Moneycontrol

Adani Group: Building an empire through acquisitions

BUSINESS

Adani Group: Building an empire through acquisitions

The acquisition of Holcim’s assets -- Ambuja Cement, and ACC -- makes Adani Group the second largest player in the cement sector. With over 30 acquisitions since 2014 in different verticals and businesses, Adani Group has grown at a scorching pace through acquisitions and has become a dominant player in most of these businesses such as ports, airports, power, and others.

MC Exclusive | Adani clinches Holcim deal with speed and tackling FEMA rules

BUSINESS

MC Exclusive | Adani clinches Holcim deal with speed and tackling FEMA rules

The Adani Group won Holcim’s prized cement assets in India by offering deal certainty with speed. Skipping foreign exchange regulations by structuring the deal via an unlisted overseas special purpose vehicle was the biggest deal clincher for Adani. Moneycontrol reported first on the foreign exchange regulations aspect of the deal.

Holcim Deal: Adani, JSW, Aditya Birla Group in race to arrange Rs 70,000 cr to buy Ambuja, ACC: Sources

BUSINESS

Holcim Deal: Adani, JSW, Aditya Birla Group in race to arrange Rs 70,000 cr to buy Ambuja, ACC: Sources

The Holcim deal valuation, as defined by FEMA regulations, will be close to Rs 70,000 crore, which includes the open offers for Ambuja Cement and ACC.

Reliance Jio profitability improves on tariff hike, but user base shrinks further

BUSINESS

Reliance Jio profitability improves on tariff hike, but user base shrinks further

Reliance Jio saw improved profitability with 20 percent tariff hike and better subscriber mix due to chip consolidation. Average revenue per user (ARPU) saw a healthy rise of 10.6 percent to Rs 167.6, which beat street estimates. Subscriber base though continued to shrink by 10.8 million in the fourth quarter.

Exclusive | Advent-owned DFM Foods may look to delist from exchanges: Sources

BUSINESS

Exclusive | Advent-owned DFM Foods may look to delist from exchanges: Sources

DFM Foods stock has been languishing close to the price at which private equity Advent International acquired it in 2019.

PVR, Inox Leisure to consolidate via mega merger, boards likely to meet today for approval: Sources

BUSINESS

PVR, Inox Leisure to consolidate via mega merger, boards likely to meet today for approval: Sources

The PVR and Inox Leisure boards are likely to meet on Sunday, March 27, to give their approval for the merger, people with direct knowledge of the matter told Moneycontrol

Exclusive | PNB Housing Finance plans to raise around $400 million via rights Issue: Sources

BUSINESS

Exclusive | PNB Housing Finance plans to raise around $400 million via rights Issue: Sources

Sources indicate that PNB is likely to participate in PNB Housing Finance’s rights issue.

UPL promoters likely to have put the company on the block for family separation: Sources

BUSINESS

UPL promoters likely to have put the company on the block for family separation: Sources

UPL in a response to Moneycontrol’s query said, “As a policy, the company does not comment on rumours."

Exclusive| Crompton Greaves Consumer to buy majority stake in Butterfly Gandhimathi for Rs 1450 crore: Sources

BUSINESS

Exclusive| Crompton Greaves Consumer to buy majority stake in Butterfly Gandhimathi for Rs 1450 crore: Sources

Crompton Consumer is likely to buy over 50% stake in Butterfly Gandhimathi for Rs 1450 cr, sources suggest. Deal will trigger an open offer for other shareholders.

N Chandrasekaran gets second term at Tata Sons: Experts discuss the road ahead

BUSINESS

N Chandrasekaran gets second term at Tata Sons: Experts discuss the road ahead

As Chandra heads for a second stint at the Bombay House corner office, experts decode the road ahead for him and his possible priorities.

N Chandrasekaran gets extension as chairman of Tata Sons for 5 years

BUSINESS

N Chandrasekaran gets extension as chairman of Tata Sons for 5 years

N Chandrasekaran took over the reins of Tata Sons in 2017. He became Chairman at a time when the group faced a leadership crisis and a trust deficit after the ouster of his predecessor, Cyrus Mistry, by the board.

Exclusive | N Chandrasekaran likely to get extension as chairman of Tata Sons

BUSINESS

Exclusive | N Chandrasekaran likely to get extension as chairman of Tata Sons

N Chandrasekaran took over the reins of Tata Sons in 2017. He became Chairman at a time when the group faced a leadership crisis and a trust deficit after the ouster of his predecessor, Cyrus Mistry, by the board.