Gopika Gopakumar

India: Lenders invoke sustainable debt recast plan for Soma Enterprise

At the end of March 2016, Soma had a consolidated debt of Rs4,658 crore.

India: R Thyagarajan says open to resuming IDFC-Shriram merger talks

R. Thyagarajan, founder of the South India-based group, said that it’s too early to write an obituary for the IDFC-Shriram deal.

GIC, CPPIB may join hands with Bain to buy 10% in India’s Axis Bank for $2 billion

GIC is already an investor in Axis Bank. GIC & CPPIB are also LPs in Bain Capital.

India: HDFC planning IPO of mutual fund unit next year, says chairman

It is also evaluating a plan to start a distressed asset fund.

India: Exclusivity period for IDFC-Shriram merger talks unlikely to be extended

The proposed merger of the two firms is stuck because of differences over the valuation of IDFC.

State Bank of India starts bankruptcy proceedings against Amtek Auto subsidiary

Amtek itself is one of the 12 companies identified by the Reserve Bank of India (RBI) for early bankruptcy proceedings.

India: IDFC, Shriram merger gets into soup over valuation

Shareholders of IDFC such as Enam Holdings Pvt. Ltd and Sipadan Investments (Mauritius) Ltd have demanded a higher valuation for the company.

India: Bankruptcy proceedings filed against textiles maker SEL Manufacturing

SEL has become the first company in the second list of corporate defaulters identified by RBI.

India: Nabard buys 7% more in Sidbi from IDBI Bank for about $138m

This is the largest investment made by the apex rural financial institution so far, and raises its total shareholding in Sidbi to 10%.

India: IDFC Bank, Shriram Group extend merger deadline

The decision to extend the agreement comes after the deal faced opposition from the shareholders of Shriram and IDFC.