BUSINESS
Canadian pension fund CDPQ, Cube Highways eye NIIF’s $1.2 billion road portfolio
At an enterprise value of $1.2 billion, this will be the biggest road deal in the country
BUSINESS
Exclusive: Ashoka Buildcon set to sell 11 roads to Edelweiss Alternatives for $277 million
The infrastructure company is also engaged in talks to sell a portfolio of five build-operate-transfer (BOT) road projects
BUSINESS
Quess Corp’s Isaac: We are addressing the conglomerate discount through the demerger plan
Quess Corp shares surged 13% after it announced a plan to split into three independent entities to unlock shareholder value
BUSINESS
Sebi wants PE/VC shareholders out of IPO pricing decisions
Sebi has issued observations on a few draft prospectuses, asking companies and its IPO managers to remove “selling shareholders” from the decision making process of pricing or allocating shares.
BUSINESS
Hyundai picks Shardul Amarchand, Latham as legal advisors for India IPO
Earlier, on February 9, Moneycontrol reported that Hyundai has picked investment banks JP Morgan, Citi and HSBC as the merchant bankers to the $3 billion -3.5 billion Indian IPO.
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
A Rs 2,000 crore war chest may come to Paytm’s rescue
Sources say that Paytm is aggressively looking at acquisitions to defend its market share amid the RBI clampdown.
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
Anil Agarwal’s Vedanta Resources completes repayments to bondholders
Maturities of $3.2 billion in bonds were successfully extended to 2029, the company said.
BUSINESS
Actis to acquire 4 HAM road assets from Patel Infrastructure
This is the second roads portfolio to be acquired by Actis in India, through its Long-Life Infrastructure Fund.
BUSINESS
BAT may exit ITC hotels business post demerger
There is no strategic intent from BAT to be a minority shareholder of a hotel company in the Indian market, said BAT CEO Marroco
BUSINESS
Very difficult to give timeline for ITC stake sale: BAT CEO Tadeu Marroco
BAT will likely exit ITC hotels business post demerger and there is no strategic intent from BAT to be a minority shareholder of a hotel company in the Indian market, the CEO added
BUSINESS
Investment intentions of private firms remain upbeat: RBI Governor Das
The RBI survey suggests that investment intentions of private corporates remain upbeat and both services and infrastructure firms are optimistic about overall business conditions, the governor has said
BUSINESS
Paytm Payments Bank fallout: What regulatory and corporate governance red flags should investors watch for?
Investors should recognise that new-age tech companies operate in areas where regulations, too, are still evolving. For such businesses, the risk from these evolving regulations will always be a sword over their heads.
BUSINESS
Shell kicks off sale of Indian renewable energy unit Sprng
The global energy major has reached out to investors such as KKR and Brookfield for the stake sale. Shell is open to a part or full sale of the unit, which is expected to fetch an enterprise value of $1.6-1.8 billion
BUSINESS
Paytm Payments Bank annual report shows board was confident RBI would validate corrective measures
Steps taken by the bank to improve compliance, according to its annual report, include the leadership’s active participation in various regulatory forums such as Digital Payments Utsav and Nationwide Intensive Awareness Campaign
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
IPru MF sells 2.15% stake in Zee Entertainment amid Sony merger failure fallout
Shares sold between January 20 and January 30. Considering the average stock price of Rs177.11 apiece in this period, IPru MF has sold approximately Rs365.7 crore worth of shares.
BUSINESS
Why Sitharaman's fiscal prudence will ease funds flow to private sector
The lower level of borrowing by the central government is a positive for interest rate-sensitive segments such as real estate, autos, PSU banks, NBFCs and small private banks.
BUSINESS
Corporate India’s leaders welcome FM’s balance between growth and fiscal prudence
Interim Budget 2024: Nirmala Sitharaman’s focus on fiscal prudence, despite 2024 being a general election year, was appreciated by corporate India.
BUDGET
Will the budget 2024 fuel private capex?
Analysts at the Japanese brokerage, Nomura, expect the government to pencil in a 16.5% rise in capex outlay in FY25 (compared with 36% budgeted in FY24), which should keep central government capex elevated at 3.4% of GDP
