BUSINESS
Zomato-backed Magicpin set to join tech-IPO bandwagon; in talks to appoint advisors
Earlier this month, Magicpin announced that it is entering the quick commerce segment for food delivery.
BUSINESS
Goldman Sachs in talks to acquire Multiples PE-owned HR services firm PeopleStrong
PeopleStrong provides tech services to companies across the entire employee lifecycle from hire to exit, including human capital management, payroll, talent acquisition and management, and collaboration
BUSINESS
Shapoorji Pallonji kicks off talks for IPO of real estate business
The proposed IPO of its real estate business follows the recent public debut of Afcons Infra and sale of other assets this year, which the group used to make substantial repayments on loans
BUSINESS
Aether Industries eyes Rs 1,300 cr QIP fundraise for capex
This will be Aether’s second QIP since its IPO in 2022. In June 2023, the company raised Rs 750 crore through a QIP.
BUSINESS
13 investment banks bid for Canara Robeco Mutual Fund IPO mandate
Canara Robeco was managing assets worth Rs 1.06 lakh crore as of November 30, 28 percent more from the end of 2023
BUSINESS
IPO-bound Credila suspects fraud in loan portfolio, makes Rs 80 crore provision
The suspected fraud cases were detected in the September quarter and are being investigated, the company has said
BUSINESS
KKR, OTPP to infuse up to $700 million in Highways Infrastructure Trust to acquire roads worth $1.8 billion
KKR is the sponsor of the Highway Infrastructure Trust, while OTPP is its second biggest shareholder
BUSINESS
MC Interview | SpiceJet turnaround on track, 70% of claims with lessors and vendors resolved: Ajay Singh
Chairman and managing director shares with Moneycontrol in an exclusive interview that the troubled airline’s turnaround plan is making steady progress with support from stakeholders and customers
BUSINESS
MC Exclusive: EPC firm Shivalaya Construction picks three investment banks for Rs 1,500 crore IPO
For FY23, the construction firm reported revenue of Rs 2,188 crore, up from Rs 1,439.5 crore in the previous financial year.
BUSINESS
Brookfield REIT QIP sees 2x demand, LIC, IFC, mutual funds among investors
This is the second time that Brookfield REIT has taken the QIP route to raise funds since its IPO in February 2021. In August 2023, it Rs 2,305 crore by selling shares to institutional investors
BUSINESS
ChrysCapital-backed pharma firm Corona Remedies plans up to Rs 2,000 crore IPO
ChrysCapital, acquired a 27.5 percent stake in the company in 2021 for an investment of Rs 670 crore.
BUSINESS
IGI today is very different from when we bought it 18 months ago: Blackstone MD Roongta
The IGI IPO, which opens on December 13, values the company at Rs 16,545 crore ($1.95 billion), almost 3.5 times its valuation about 18 months ago
BUSINESS
SP Group asks NCD holders to waive off restrictive covenants to aid loan refinancing against Tata Sons shares
The request for the waiver also comes as the SP Group has faced delays in raising funds to refinance the loans availed by Sterling Investment Corp, which holds over 9 percent stake in Tata Sons.
BUSINESS
About 75% of our revenue comes from higher-margin categories: Vishal Mega Mart CEO
We are closely monitoring the growth of quick commerce, particularly how critical the '15-minute delivery' model becomes and whether the necessary infrastructure, such as delivery partners, develops in smaller towns, said Gunender Kapur.
BUSINESS
To avoid listing, Tata Sons may have to provide undertaking not to access public funds
Tata Sons is said to have sought a clarification on providing guarantees to subsidiaries
BUSINESS
Adani Group disclosed US bribery probe for the first time a year after FBI raided Sagar Adani
The first disclosure was made in March 2024 when Adani Green was raising $409 million in debt funding
BUSINESS
US indictment brings focus on certain disclosures made by Adani Group companies
The US DOJ has accused the company of not disclosing developments pertaining to the anti-bribery probe to the US based bondholders while selling them bonds.
BUSINESS
CDPQ says employees charged in US indictment were terminated in 2023, cooperating with authorities
Former CDPQ employees named in the indictment along with Indian billionaire Gautam Adani include Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra.
BUSINESS
Not just Goenka reappointment, proxy advisor asks Zee shareholders to vote against adoption of financial statements
Both Goenka’s reappointment and the adoption of financial statements are ordinary resolutions, which as per Companies Act, require 51 percent of the votes cast at the AGM to be in favour of the resolution for it to pass.
BUSINESS
Kedaara Capital-owned Vishal Mega Mart plans to launch Rs 8,000-crore IPO by mid December
This will be the biggest private equity backed IPO of 2024 and the fourth biggest to hit the Indian market in what has been a busy year for big-bang public offerings
BUSINESS
Amid demand concerns, Piyush Goyal urges automakers to cut prices for sales boost
Seemingly referring to Hyundai, the minister said the auto industry is sitting on high margins and should look at more competitive pricing
BUSINESS
Zomato targets December launch for $1 billion QIP, ropes in Morgan Stanley
Zomato informed its investors that the fundraise is meant to strengthen its balance sheet at this point and that there is also no plan for any minority investments or acquisitions.
BUSINESS
BlackBuck co-founder Rajesh Yabaji receives shares worth Rs 160 crore as gift ahead of IPO
The total shares gifted to Yabaji represent a 3.6 percent shareholding of the company. The shares were transferred to Yabaji in October.
BUSINESS
Piramal-Bain sponsored fund set to acquire ICICI Ventures-backed specialty chemicals maker for $125 million
Anthea manufactures chemical intermediaries used in flavours and fragrances and has an in-house R&D centre in Navi Mumbai
