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Prior to this, Dutt was in-charge of Air India as a CMD till the airline was handed over to the Tata Group.
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IDBI Bank has initiated the process of scouting for a buyer to sell its mutual fund business, indicating further consolidation in the Rs 19-lakh crore mutual fund industry
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The government would also wait for a good offer before deciding on the stake sale, sources told CNBC-TV18.
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State-owned Canara Bank has invited bids to sell 13.45 percent stake in its housing finance arm Can Fin Homes, to reduce its shareholding to 30 percent as per the government diktat.
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Tata Power is keen to pare its debt and bring down the debt-equity ratio to 2 through sale of non-core assets, says CEO & MD Anil Sardana.
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This transaction is in line with Reliance Cap's strategy to stay focussed on its financial services business. The company has been hinting at a possible exit from all its non-core assets. It had earlier sold its telvision and radio businesses.
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Engineering major Larsen and Toubro's outgoing Chairman A M Naik has laid out a five-year road map to become an "asset-light" entity with revenues of Rs 2 lakh crore by 2020-21.
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With bankers forcing companies to sell non-core assets to tide over bad debts, the economic research wing of SBI on May 25 said it expects asset sales of up
to Rs 2 trillion by Indian Industry as part of the clean-up process
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The company is also looking to sell non-core assets worth nearly Rs 3,000 crore to deleverage its balance sheet, says Ravi Uppal, MD & CEO of Jindal Steel and Power (JSPL).
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Managing Director and CEO Kishor Kharat says the bank has more than Rs 3000 crore of non-core assets and that it will raise Rs 600-650 crore by March 2016 by selling some of those assets
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Reliance Communications (RCom) is close to finalising a deal to sell its entire stake in tower unit Reliance Infratel, sources aware of the development said. R Com owns about 96 percent stake in Infratel and the sale would fetch it around Rs 22,000 crore, which will be used to retire some debt.
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The company‘s net debt currently stands at Rs 1700 crore which it aims to pare by Rs 200-300 crore by CY15-end by monetizing non-core assets, says Yogen Lal, chief executive officer, Pratibha Industries.
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Ashok Leyland had incurred Rs 377 crore towards finance cost during 2012-13, up 47 percent over previous fiscal. It spent Rs 101 crore during the first quarter of the current fiscal against Rs 83 crore in the first quarter of FY'2013.
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CNBC-TV18's Menaka Doshi reports that Indian Hotels hopes to be third-time-lucky when it comes to acquiring Orient-Express Hotels. Indian Hotels vice-chairman RK Krishna Kumar says that the latest USD 1.2-billion bid should win the day as it is at a handsome 40 percent premium.
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Debt ridden Hotel Leela Venture expects to receive Rs 620 crore from sale of non-core assets.
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Lanco Infratech is planning to raise USD 1 billion from equity dilution and sale of non core assets, reports The Economic Times.
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CNBC-TV18‘s Gopika Gopakumar reports that the bankers' meet on Wednesday to decide the fate of debt-ridden Kingfisher Airlines ended with the conclusion to consider Mallya's strategy in a presentation that will be made in the next 10 days.
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Net debt of realty major DLF has come down marginally by Rs 45 crore in the first quarter of this fiscal to Rs 22,680 crore though it is likely to decline significantly as the company expects to finalise divestment of three major non-core assets soon.
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Real estate giant DLF today said it expects to finalise at least two big-ticket deals for sale of non-core assets this quarter and expressed confidence that the company will achieve the target of raising Rs 7,000 crore in the next two- three years through divestment.
