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As per the terms of acquisition, BFHL will own approximately 60 percent stake in IDFC AMC, whereas, the other two members of consortium - GIC and ChrysCapital (CC) will own 20 percent each.
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The pact aims at leveraging the complementary strengths and capabilities of BEL and YIL, a state-owned defence company, and sharing of manufacturing and test infrastructure/resources for the production of arms and ammunition and related systems, the Bengaluru-headquartered BEL said in a statement on Tuesday.
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L&T Group Chairman AM Naik said he expects LTIMindtree to generate $5 billion in revenue by next year.
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Under the agreement, Adani Ports will also acquire an additional 10 percent equity stake in IOT Utkal Energy Services Ltd, which is a 71.57 percent subsidiary of IOTL.
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Nippon Life, which is a 49 percent partner in Reliance Nippon Life Insurance Company (RNLIC), may consider a merger between Reliance Nippon Life and Birla Sun Life Insurance, a part of Aditya Birla Capital.
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"The parties (Adani Power and DB Power) to the proposed transaction have mutually agreed to extend the long stop date as 30th November 2022, or achieving the closing/completion," a BSE filing stated.
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Unlike the tight ship that Elon Musk runs, Twitter is in shambolic shape
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The deal size is estimated to be above $500 million, sources said.
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Since Absolute Sports is a material subsidiary of Nazara Tech, the acquisition would fall under related party transactions
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Reliance Nippon Life Insurance was the only subsidiary of Reliance Capital that had not received any bid when the deadline for submission of non-binding bids had ended on August 29.
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SIBIA, a Kolkata-based advanced analytics and machine learning company, was founded by Angshuman Bhattacharya, who is the company’s CEO.
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The resolution for the merger was put forth during the meeting which was approved by 99.99 percent of Zee's shareholders.
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Ujjivan Financial Services holders to get 116 Ujjivan Small Finance Bank shares for Rs 10 each
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The fair trade regulator has asked Zee and Sony to ensure no misuse of market dominance that will arise as a result of the proposed merger, sources said.
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"The object of the acquisition is manufacture and sale of biscuits in Kenya and African markets," Britannia informed the stock exchanges.
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The potential merger is aimed at creating a market leading operator that could speed up the launch of 5G in Britain and expand broadband connectivity.
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The transaction will be effectuated through a newly created holding company structure, whereby Coffee Holdings and Delta will each become wholly-owned subsidiaries of Pubco.
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The acquisition of PoshVine would enable Razorpay to encourage more interaction between merchants, banks, and consumers by driving additional channels for rewards and driving additional spending digitally.
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Investment banks Citi and Deutsche Bank have been roped in as sell side advisors for the deal. Several prominent strategic players like Norway’s Statkraft, US based Sun Edison (which went bankrupt) and ReNew Power have explored a stake buy in Continuum Energy in the past
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The semiconductor project will be undertaken by Volcan Investments – the holding company of Vedanta, rather than by Vedanta itself. However, the benefits of vertical integration will eventually trickle down to Vedanta
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ITC is reportedly looking to part ways with its conglomerate structure and list its hotel business. CJ believes that any such demerger may still be a long time away but Santo sees a trigger for a new rally. Watch as the duo clash heads over what lies ahead for ITC and share their thoughts on CONCOR, Borosil and Apollo Tyres.
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IDBI Bank’s ownership can be a shot in arm for Fairfax’s banking ambitions as the former is ten times the size of CSB Bank in terms of asset base
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Schola’s acquisition will help Brightchamps in adding English speaking and communications vertical, a segment that will help it scale faster in its key markets--Southeast Asian countries such as Vietnam, Thailand and Indonesia.
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In its fifth acquisition in less than four years, Razorpay picks up an 80 percent stake in Ezetap Solutions Pte Ltd, the parent entity of Ezetap Solutions Pvt Ltd, which will see it go up against Pine Labs, MSwipe and BharatPe among others
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The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank
