Gopika Gopakumar

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.


India: Catholic Syrian Bank pursues QIP plan to raise up to $62m

The move follows the collapse of its plan to sell a major stake to Fairfax Financial over valuation differences


India: IDBI Bank seeks fresh bids for acquiring 13.7% stake in Sidbi

The deadline for submission of fresh bids will close on 14 September


India: PNB looks to sell stake in housing finance unit, list insurance arm

The housing finance company is considered the most valuable investment ever made by the public sector bank.


India: Essar reduces debt by nearly $11b with Rosneft deal

Part of the sale proceeds would be used to repay Indian lenders including Life Insurance Corporation of India (LIC).


India: SBI planning IPOs of two regional rural banks in next one year

SBI is planning to list Andhra Pradesh Grameena Vikas Bank and Saurashtra Gramin Bank


India: Bankruptcy proceedings against Monnet Ispat, Alok Industries get NCLT nod

Bankruptcy proceedings against Monnet Ispat and Energy Ltd and Alok Industries Ltd were approved by different benches of the National Company Law Tribunal (NCLT) on Tuesday. They become the second and third among the big 12 firms identified for early bankruptcy proceedings by the Reserve Bank of India (RBI) where… Read more »


India: Shriram Group aims to move to next level with IDFC merger

When R. Thyagarajan, 80, founded a chit funds business over four decades ago, he did not expect it to grow to a $16-billion (by loan book) financial conglomerate that would weigh on him even after he stepped down from formal roles. Forty-three years after its founding, the Shriram group stands… Read more »


India: Promoters look to stay close as companies begin insolvency process

Promoters of some companies where insolvency and bankruptcy proceedings have been triggered are taking on operating roles to remain close to the action when the insolvency professional takes over. Take, for instance, Bhushan Steel Ltd, one of the 12 companies which the Reserve Bank of India has identified for triggering… Read more »