Japan-based Kubota takes strategic stake in Escorts

Escorts Ltd, one of India’s oldest motor and equipment makers, said Japan-based Kubota Corporation, one of the top tractor makers in the world, will take a 10% stake in the Indian company for Rs 1,042 cr. The partnership, which will go beyond equity participation, will “integrate and deepen their relationship towards achieving their mutual ambition […]

No plans to sell news channels: TV18 Broadcast

Rahul Joshi, Managing Director of TV18, today said his company has no plans to sell its news business. “We’ve outrightly denied any such story in news. In news, the group remains absolutely committed to grow the business. “As you’ve seen, we’ve committed so much investments in digital, on television. So there’s no question of getting […]

Zee Entertainment Chairman Subhash Chandra resigns

Subhash Chandra has resigned as the chairman of Zee Entertainment Enterprises, five days after his group sold another 16.5% stake in the company. “In light of the changes in shareholding, Subhash Chandra has expressed his intention to resign as Chairman of the Board with immediate effect,” the broadcasting company informed. “The Board accepted his resignation […]

RIL reorganizes telecom business prior to strategic monetization

Reliance Industries, India’s most valuable company by shareholding, has restructured its telecom investments and holdings to facilitate its “early monetization”. The oil-to-retail giant said it has decided to set up a new company exclusively for holding the digital business of RJIL — devoid of towers and fiber — and plans to sell stakes in this […]

Minda Inds buys German automotive lamp maker for Rs 163 cr

Minda Industries, one of the world’s biggest auto-parts makers, said it will acquire German autoparts maker Delivis Group for 21 mln euros (Rs 163 cr). Minda, which supplies parts to almost all major automakers in India including Maruti Suzuki, said the acquisition is designed to “maintain technology leadership in lighting products market in India”. Delvis […]

Zee completes sale of 8.7% stake to Invesco Oppenheimer

Zee Essel Group today said it has completed the sale of 8.7% of its crown jewel, Zee Entertainment Enterprises, to US-based Invesco Oppenheimer Developing Markets Fund as per a plan announced in July. The remaining 2.3% stake that is to be transferred to the fund will also be sold in the “next few days”, the […]

Lupin sells Japanese injectables business to UAE-based Neopharma

Pharma major Lupin said it has agreed to sell its Japanese injectables business to a wholly owned subsidiary of Neopharma group, the UAE’s largest pharmaceutical manufacturer headquartered in Abu Dhabi. Lupin has agreed to sell all the issued and outstanding share capital in its unit Kyowa Criticare Co. Ltd to neo ALA Co. Ltd, a […]

Amazon buys into Quess Corp’s repairing unit

Quess Corp, a provider of logistical, staffing and infrastructural solutions to businesses in India, said it has entered into an agreement with international e-commerce giant Amazon.com relating to investment in and operations of an electronics aftersales company. Though the finer details of the agreement were not revealed, the agreement could be aimed at diversifying the […]

Mahindra Finance sells 49% of asset management arm to Manulife

Singapore-based investment management company Manulife has bought a 49% stake in the asset management arm of Mahindra Finance, marking yet another collaboration between an Indian financial company and a foreign asset management company for operations in India. The transaction has been structured as an investment of $34.9 million, or about Rs 2,000 cr, into the […]

HDFC to acquire majority stake in Apollo Munich at Rs 1,347 cr

HDFC said it has agreed to buy a 51% of Apollo Munich Health Insurance Company Ltd for around Rs 1,347 cr. Apollo Munich will be merged with HDFC’s general insurance subsidiary, HDFC ERGO General Insurance Company Limited, even as Munich Re continues to remain invested in the new, merged entity. HDFC already has a joint […]

Aditya Birla Fashion buys ethnic retailer for Rs 110 crore including debt

Fashion and lifestyle company Aditya Birla Fashion and Retail Ltd said that it will acquire Jaypore E-Commerce Private Ltd, which sells “handmade, handwoven and handcrafted apparel, jewellery, home textiles and accents”, for Rs 110 crore including debt. Aditya Birla Group did not break out the equity component of the company’s valuation, nor did it give […]

Reliance Capital to raise Rs 6,000 crore from Reliance Nippon Life Asset Management Limited stake monetisation

Anil Ambani owned Reliance Capital Ltd said that it signed binding definitive agreements with Nippon Life Insurance, one of the largest life insurance companies in Japan to increase its stake in investment management firm Reliance Nippon Life Asset Management Limited (RNAM) to 75%. Reliance Capital said that it will receive Rs 6,000 crore from the […]

L&T acquires Rs 7.2 cr worth of Mindtree shares via open market

Infrastructure major Larsen and Toubro said it acquired 73,953 shares of IT firm Mindtree from the open market. The latest purchase comes three days after it acquired 13,443 shares in the IT company. After the latest transaction, L&T’s shareholding in Mindtree stands at 26.53%. The latest stock purchase was made at Rs 979 price per […]

Godrej sells Nature’s Basket to Spencer’s Retail

Godrej Group has sold its grocery chain Nature’s Basket to Kolkata-based Spencer’s Retail, part of the RP Sanjiv Goenka Group. Spencer’s Retail is especially strong in Chennai and Bangalore, and has also recently acquired another South Indian player Foodworld. The financial consideration for the sale was not revealed by Godrej. Godrej, for which Nature’s Basket […]

Hindustan Media Ventures invests in content aggregator Aleph Digital

Hindustan Media Ventures, the Hindi arm of mass media company HT Media Ltd, said it invested Rs 4 crore in the media and entertainment firm Aleph Digital Solutions Pvt Ltd. Incorporated in November 2017, Aleph operates Pebble, a hyper-local content marketplace and LocalHeading, a news site. Pebble offers verified hyper-local content to publishers at an […]

YES Bank acquires stake in Electrical Engineering firm CG Power and Industrial Solutions

YES Bank, India’s fourth largest private sector bank, said it has acquired 12.79% stakes in Electrical Engineering firm CG Power and Industrial Solutions as part of the invocation of a pledge. It acquired over 8 crore of equity shares of CG Power submitted as collateral for a loan. The shares are valued at Rs 288 […]

HCIL, Bharti Airtel merge India VSAT business

Bharti Airtel said it will merge its VSAT business with the VSAT business of Hughes Communications India Ltd, with HCIL holding a majority stake in the resulting business. VSAT refers to the provision of data services using satellites, and is used extensively by banks and ATMs. “The combined entity will be able to introduce new […]

NSE seeks clarification from Jet Airways on Brit entrepreneur’s interest

The National Stock Exchange on Wednesday sought a clarification from Jet Airways regarding reports that a British entrepreneur has expressed interest in acquiring it. The NSE has asked Jet Airways whether such negotiations were taking place and whether it was aware of any information that has not been informed to both NSE and BSE. This […]

Tata Global Beverages to acquire branded business of Dhunseri Tea for 101 cr

Tata Global Beverages Ltd, a subsidiary of the multinational conglomerate Tata Group, said it entered into a non-binding agreement to acquire the branded tea business of the Kolkata-based Dhunseri Tea and Industries Ltd for Rs 101 crore. A non binding contract is an agreement in which the parties are not legally obligated to carry out […]

TeamLease acquires Hyderabad-based IT staffing business

Recruitment firm TeamLease Services Ltd said it entered into an agreement with HR services company E Centric Solutions Private Ltd to acquire its IT staffing business. Incorporated in 2014, Hyderabad-based E Centric currently has over 100 core employees, 880 associates deployed across more than 20 clients. It reported a revenue of over Rs 45 crore […]