Moneycontrol PRO
Open App
you are here: HomeNewsBusiness

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

MC Insider: Market buzz, investment rethink, microfinance wars, salary boom and more

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

Last Updated: November 29, 2021 / 12:33 PM IST

ACQUISITION BLOWBACK

ACQUISITION BLOWBACK

After MC Insider wrote last week about a hospitality founder eyeing a stake in a media firm, we hear the media startup got slightly spooked by the public blowback. One of the founders has a right of first refusal on any investor that comes in, and may block the transaction if he is able to put up the money instead. The unending drama, we tell you!

D FOR DIVERSIFICATION

D FOR DIVERSIFICATION

A little birdie tells us that a prominent healthcare group that has shown a penchant for diversification in the past is now gearing up for its next inorganic step. Grapevine on the deal street suggests that the group has begun due diligence on a pharma & biotech firm. The waters are muddy as of now and it’s not clear if it’s a minority stake sale or a buyout. We shall keep you posted but remember, you heard it first on MC Insider!

MICROFINANCE WARS

MICROFINANCE WARS

At a recent meeting involving the movers and shakers in the microfinance segment, we hear the bitter, public spat between an ousted MD and a PE firm backed player was a hot topic of conversation. Not surprisingly, many of the folks at the event sided with the veteran MD and were not amused one bit with the manner in which she was treated during the entire affair. There’s no doubt that the sordid saga has cast more gloom on a segment that has faced its share of woes in the past. Hmm, watch this space for more!

HOUSE THAT?

HOUSE THAT?

Housing finance companies were buzzing on the stock exchanges on Friday and that kept the rumour mills busy as well. One HFC, backed by people with clout, was the subject of rumours keeping the traders busy. May it be a top PE investment, which you will remember just got a jolt from a foiled attempt to take control of its investee company to some big names in the finance world pooling in funds. This smacks of some trouble in paradise. YES, many talks but no IDEA! Now, haven't we seen these kinds of stories play out before? Wink, Wink!

TAKING A BACKSEAT

TAKING A BACKSEAT

The much-awaited Personal Data Protection Bill, 2019 will finally be tabled in the winter session of Parliament on November 29. But for people who worked on the 2018 version, the interest in the Bill has long been lost. A source who helped the committee with the first draft in 2018, said, "People who were there right from day zero, you know who created the mother document, they have completely lost interest. Whatever has happened over the last two years, they just wanted to stay away from it, take a backseat." Even as the Bill is set to be tabled, many of them don't want to be a part of deliberations given that some of the provisions such as inclusion of social media has come as a shock. "So we are like, let there be some finality and then see if there is anything worth looking at," the source added.

LOOK BEFORE YOU STRIKE THAT DEAL!

LOOK BEFORE YOU STRIKE THAT DEAL!

The much-hyped e-commerce companies, which have raised oodles of capital with no business model, may face a moment of reckoning soon. While they promise to turbocharge the growth and revenues of brands, in 3-4 cases, companies have actually seen their revenues plummet post-acquisition. Are some of these firms beautifying their numbers pre-deal, only for reality to strike later on? The coming days will tell.

GOOD NEWS AT MINT ROAD?

GOOD NEWS AT MINT ROAD?

The long-pending wage settlement issue in RBI had become a point of friction between RBI top management and trade unions. The tussle had come to a point that unions threatened to go on a nationwide strike. But a solution may emerge soon. We hear from RBI insiders that the Governor has asked the concerned departments to work out a draft wage revision document at the earliest. This will be good news to around 12,000 RBI employees as wage revision is pending since 2017.

STARTUP HIRING BOOM

STARTUP HIRING BOOM

You know things have changed when the Human Resources personnel from the company you are set to join calls every other day just to "check-in". This senior engineer, who was recently hired by a Bengaluru-based unicorn, has been getting frequent calls from the company's HR. "They are calling me to ask if I will be joining every day. They want to be sure that I will be joining," quips the senior hire, who was surprised by these calls. "With so many people quitting every day and multiple job offers in hand, this probably should not come as a surprise," he says. But he is not sure if these frequent calls will be of any help. Even this senior hire had accepted offers from two companies when he was serving the notice period. The unicorn, in addition to giving him a 100 percent hike, also offered ESOPs. But he admits, he is still open to better offers. Well, make hay while the sun shines!

LINGUISTIC DILEMMA!

LINGUISTIC DILEMMA!

In the recently concluded DGP meet in Lucknow, all top cops from 30 states spoke in Hindi. There was a hint from the MHA that the preferred language is Hindi. Some DGPs from non-Hindi States had brushed up their Hindi speaking skills. Some even wrote down their Hindi speech in their own script! The most surprising thing was TN DGP’s efforts to speak in Hindi. When it was brought to the notice of CM MK Stalin, he ordered him to speak either in English or Tamil. TN DGP told him that there was an order to use only Hindi. The next day, he again spoke in Hindi. Ironically, a Gujarat cadre IPS officer was the only one who spoke in English!

TWO FIRSTS ON BSF RAISING DAY

TWO FIRSTS ON BSF RAISING DAY

The Border Security Force (BSF) will, for the first time ever, organise its Raising Day near the border in Rajasthan’s Jaisalmer. Though the 57th Raising Day of the paramilitary force is on December 1, the event will be held on December 5. Insiders say that celebrations are being delayed by four days, another first, to ensure Union Home Minister Amit Shah is the Chief Guest of the event at Shaheed Poonam Singh Stadium in Jaisalmer. Shah has consented to be present at the programme. The BSF was established on December 1, 1965, in response to the war with Pakistan as a paramilitary force entrusted with guarding India's land border during peacetime and preventing transnational crime. The force is under the administrative control of the Union Ministry of Home Affairs.

Note to the Readers : Chances are you love a juicy story as much as we hacks do and you might have one to share. Please share the story in an email to MCInsider@nw18.com.

Also, spare a moment to tell us what you think of this series. Send your hosannas and howls to the same email address.

Sections
ISO 27001 - BSI Assurance Mark