Supreme Court lifts HC stay on RCom asset sale to Jio, no relief in NCLT case

Supreme Court lifts HC stay on RCom asset sale to Jio, no relief in NCLT case

2018-04-05T15:21:59+00:00 On

Anil Ambani Group’s Reliance Communications cleared a major hurdle for the sale of its assets to Reliance Jio with the Supreme Court lifting the stay imposed by the Bombay High Court on the transaction. However, there was no immediate relief for the…

Tata Steel declared successful bidder for Bhushan Steel

Tata Steel declared successful bidder for Bhushan Steel

2018-03-23T09:12:17+00:00 On

Tata Steel said it has been declared as the successful resolution applicant by the Committee of Creditors of Bhushan Steel Limited, laying the ground for one of the biggest acquisitions in India’s iron and steel sector. Tata Steel said it has has…

Balesh Sharma to head Vodafone-Idea Cellular after merger, Himanshu Kapania moved to Group

Balesh Sharma to head Vodafone-Idea Cellular after merger, Himanshu Kapania moved to Group

2018-03-22T19:09:06+00:00 On

Aditya Birla Group and Vodafone have announced the list of office bearers who will run the company resulting from the merger of Vodafone India and Idea Cellular. Balesh Sharma, who is currently Chief Operating Officer of Vodafone India, has been chosen to…

RCom says confident of completing asset sale to Reliance Jio on time

RCom says confident of completing asset sale to Reliance Jio on time

2018-03-22T15:58:04+00:00 On

Anil Ambani-led Reliance Communications said it is confident of completing the sale of the assets related to its mobile network to Reliance Jio on time. The company’s statement was in the context of the Supreme Court refusing to give any urgent relief…

Edelweiss abandons acquisition of Religare’s securities business

Edelweiss abandons acquisition of Religare’s securities business

2018-03-16T09:09:04+00:00 On

Edelweiss Financial Services Ltd said it abandoned the deal to acquire the securities business of Religare Enterprises, including the company’s securities and commodities broking and depository participant services. “Due to the seller’s inability to obtain the requisite clearances within the agreed timeline,…

Singapore’s Wilmar takes control of Shree Renuka Sugars

Singapore’s Wilmar takes control of Shree Renuka Sugars

2018-03-09T10:24:10+00:00 On

Singapore-based agricultural commodity player Wilmar International has taken a controlling stake in Shree Renuka Sugars, one of India’s largest sugar companies that was saddled with high levels of debt. As of December 30, both the Indian promoter and Wilmar had a stake…

Singapore’s GIC Realty looking to invest in Prestige Estates’ office business

Singapore’s GIC Realty looking to invest in Prestige Estates’ office business

2018-02-26T10:19:52+00:00 On

Bangalore-based real estate player Prestige Estates Projects said Singapore-based GIC Realty Pte Ltd, the country’s sovereign wealth fund, has signed a term sheet to explore the possibility of acquiring a ‘significant minority’ stake in the Indian company’s commercial buildings business. The term…

Idea Cellular says QIP to reduce debt; looking to sell Indus stake

Idea Cellular says QIP to reduce debt; looking to sell Indus stake

2018-02-23T18:32:38+00:00 On

Idea Cellular, one of India’s largest telecom operators, said the recently concluded sale of its shares to institutional investors, along with a recent fund infusion by the promoter, will reduce its net debt by Rs 6,750 cr. “This equity raise of Rs….

Bharti Infratel to merge with Indus Towers before Vodafone-Idea deal?

Bharti Infratel to merge with Indus Towers before Vodafone-Idea deal?

2018-02-07T11:05:59+00:00 On

UK’s Vodafone is looking to combine its stake in Indus Towers, India’s largest tower company, with Bharti Infratel, the tower arm of market leader Bharti Airtel, on the basis of $5 bln valuation for its asset, the Economic Times reported, quoting unnamed sources….

Tata Steel buys 74% of Orissa power plant from Jasper Ind for Rs 255 cr

Tata Steel buys 74% of Orissa power plant from Jasper Ind for Rs 255 cr

2018-02-02T15:50:53+00:00 On

Tata Steel said it has completed the acquisition of a 135 MW power plant from a subsidiary of Jasper Industries for Rs 255 paid in cash. The thermal power plant, located in Cuttack district in Odisha, will help it increase its captive…

Idea-Vodafone set to use 60% of spectrum for 4G, Kapania seen leading

Idea-Vodafone set to use 60% of spectrum for 4G, Kapania seen leading

2018-01-28T17:52:48+00:00 On

Idea Cellular and Vodafone India will gear their network heavily towards 4G after merger and will also shut down over 60,000 cell sites as part of network optimization, going by the presentation being made by Idea in front of investors. The companies…

Wipro ties up with Harte Hanks to power ‘marketing-as-a-service’ offering

Wipro ties up with Harte Hanks to power ‘marketing-as-a-service’ offering

2018-01-24T17:33:46+00:00 On

IT services provider Wipro said it will invest $9.9 million (Rs 63 cr) in marketing consultant Harte Hanks and will jointly offer end-to-end marketing technology services to customers. Harte Hanks specializes in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital,…

Cartrade.com to buy majority stake in Shriram Automall for Rs 156 cr

Cartrade.com to buy majority stake in Shriram Automall for Rs 156 cr

2018-01-24T15:44:16+00:00 On

Shriram Transport Finance Company said it has decided to sell a majority stake in its vehicle auction company Shriram Automall to Cartrade.com to create what it called India’s leading used vehicle platform. CarTrade, owned by MXC Solutions India, will acquire majority stake…