Malvika Joshi

India: Essar Steel lenders ask ArcelorMittal, Numetal to clear outstanding dues

The committee of creditors will again meet to discuss the measures for recovery of Essar Steel suggested by ArcelorMittal and Numetal.


India: Penna Cement plans to raise $195m in IPO

Penna Cement has hired Edelweiss Financial Services Ltd, IIFL Holdings Ltd and JM Financial as book runners for the offering


India: Essar Steel lenders may invite fresh bids as soon as this week

The committee of creditors (CoC) is expected to meet in the next three days to discuss whether bids should be invited from new resolution applicants.


Ambit CEO Ashok Wadhwa to buy Qatar-based QInvest stake in group

QInvest had bought the 26% stake in the financial services company in 2011 for Rs250 crore.


Fortis Healthcare to consider only binding bids for hospital business

IHH Healthcare and Fosun International have submitted non-binding offers for Fortis hospitals, TPG-Manipal and Munjal-Burman have submitted sweetened binding offers


Fortis Healthcare raises bridge loan to stave off bankruptcy

Fortis Healthcare has raised Rs150 crore bridge loan from RattanIndia Finance to keep the struggling hospital operator afloat till it finds a buyer


Stressed assets funds eye Fortis Healthcare in anticipation of insolvency proceedings

Some investors are already anticipating that the firm may be admitted for insolvency proceedings if there are more delays in arriving at a resolution plan.


The story behind Manipal & TPG’s relentless pursuit of Fortis hospitals

Many hurdles remain in the Fortis-Manipal deal to create India’s largest hospital chain, but Ranjan Pai is not ready to give up on the acquisition


India: JSW unit may rope in PE partner for Essar Steel

JSW Steel Ltd is bidding for debt-ridden Essar Steel Ltd in alliance with Numetal Mauritius


India: Fortis-Manipal deal has 50:50 chance of going through, says Ranjan Pai

The Fortis-Manipal deal is also likely to face hurdles from Japanese drug maker Daiichi Sankyo.