PR Sanjai

India: Promoter, MD pick shares worth $15m in Indiabulls Housing days after Oak North deal

The promoter and managing director of Indiabulls Housing Finance Ltd bought shares worth Rs.100 crore to increase their stake in the Mumbai-based private housing finance company—four days after its purchase of a stake in a British bank led to a hammering of the stock. In its filing to stock exchanges,… Read more »

India: L&T Tech Services chasing M&A targets in sub-$50m range as it steps up focus on IoT, cloud space

Ahead of its initial public offer (IPO), L&T Technology Services Ltd, a unit of India’s largest engineering and construction company Larsen and Toubro Ltd (L&T), is looking at buying small companies worth less than $50 million even as it is focusing on Internet of Things (IoT), cloud and automation, said… Read more »

Tata Group’s Indian Hotels embarks on major restructuring drive, to pare debt

Tata group-controlled Indian Hotels Co. Ltd will undertake a restructuring of its subsidiaries and try to reduce the debt on its balance sheet as it bids to return to profitable growth. Some of this, particularly the attempts to improve the finances of Indian Hotels, the operator of Taj Hotels Resorts… Read more »

India: Jet Airways to buy 75 Boeings for $8b to fight rivals

Jet Airways (India) Ltd, the country’s second-largest airline by passengers carried, will buy 75 fuel-efficient B737 MAX planes that are valued at $8 billion at list price from Boeing Co. to compete with domestic and international rivals that have already placed orders for similar planes. The delivery of these planes… Read more »

Boeing forms JV with Tata unit to make aero structures for aircraft in India

Plane maker Boeing Co. and Tata Advanced Systems Ltd on Monday formed a joint venture that will manufacture aero structures for aircraft and collaborate on integrated systems development opportunities in India, seeking to tap a military hardware market estimated to be worth an annual $41 billion in seven years. The… Read more »

India: Essar Steel plans to induct strategic partner

Ruias-controlled Essar Steel Ltd has appointed domestic merchant bankers ICICI Securities Ltd and SBI Capital Markets Ltd as advisors to help identify and induct strategic or financial investors in the company. This decision is in addition to previously announced plans to monetise certain non-core assets to raise equity and infuse… Read more »

India: Agri fund Mandala Capital to invest $122m in Jain Irrigation, food subsidiary

Jain Irrigation Systems Ltd, Asia’s largest irrigation equipment maker, will raise Rs.792 crore by issuing equity shares in the company and its food business unit to agri-business funding firm Mandala Capital Ltd and promoters. The total equity fund raising would be done through three phases. In the first leg, Mandala… Read more »

India: RPP Infra Projects forms joint venture with China’s Hunan Construction

RPP Infra Projects Ltd, a developer of highways and bridges in India, on Tuesday said that it has signed an agreement with Hunan Construction Engineering Group Corp., one of the largest Chinese state-owned company, to develop infrastructure projects in India. The joint venture, Hunan-RPP Infra Projects Ltd, will work on… Read more »

India: Reliance Communications to consider Sistema Shyam Tele merger on Monday

Anil Ambani-led Reliance Communications Ltd (R-Com) on Saturday informed stock exchanges that its board of directors will meet on Monday to consider a merger of the telecom business of Sistema Shyam Teleservices Ltd with itself, that could mark the start of much-anticipated consolidation in India’s telecom sector. “Reliance Communications has… Read more »

India: A day after leaving SpiceJet, Sanjiv Kapoor joins Tata-SIA airline venture Vistara

A day after Sanjiv Kapoor resigned as chief operating officer (COO) of SpiceJet Ltd on Thursday, he has been appointed by Vistara, run by TATA SIA Airlines Ltd, as its chief strategy and commercial officer. He will be assuming the new role in TATA SIA Airlines in February 2016. Kapoor… Read more »