Search Results for:PR Sanjai

R-Com gets stock exchanges’ approval to buy SSTL

Reliance Communications Ltd (R-Com) on Thursday said it has received stock exchange approval to proceed with the acquisition of Sistema Shyam Teleservices Ltd (SSTL), the local unit of Russia’s Sistema JSFC. The Anil Ambani-controlled company, India’s fourth largest mobile-phone services provider, said in a statement to stock exchanges that the… Read more »

India: Piramal unit sells healthcare product to British MNC

Piramal Enterprises Ltd on Wednesday said its Canadian subsidiary has sold a cartilage repair product to British multinational medical equipment maker Smith and Nephew Plc for an undisclosed amount. BST-CarGel, made by Piramal Healthcare (Canada) Ltd, is a first-line cartilage repair product used along with microfracture and other bone marrow… Read more »

Hinduja Group close to buying distressed Indian infra assets; taps Africa for new projects

The Hinduja Group says it is close to buying distressed assets in power and road even as it focuses on Africa for new business opportunities. In an interview, group co-chairman Gopichand P. Hinduja said the group has hired investment bankers to find out operational and under construction infrastructure projects in… Read more »

India: Anil Ambani led Reliance Infrastructure in advanced talks to divest cement biz

Anil Ambani-led Reliance Infrastructure Ltd on Monday said it is in an advanced stage of discussions with potential buyers to sell its cement business in a bid to pare its overall debt. The company has informed the stock exchanges that it will make “appropriate disclosures as and when a final… Read more »

India: Orchid Pharma ties up $800m debt from UK firm to chase new growth plans

Orchid Pharma Ltd has entered into a long-term financial agreement to avail up to $800 million as loan from Line Trust International of the UK to explore new growth opportunities. In a filing to BSE, Chennai-based Orchid Pharma said its wholly-owned subsidiary Orchid Europe Ltd “has entered into a long-term… Read more »

India: Jet Airways names ex-Suzlon Energy exec Amit Agarwal as CFO

Jet Airways (India) Ltd has named Amit Agarwal as its chief financial officer at a time when the country’s second largest airline by passengers is trying to pare debt and become profitable by 2017-18. The airline, in which Abu Dhabi’s Etihad Airways PJSC has a 24% stake, on Tuesday said… Read more »

India: Godrej Agrovet hikes stake in Creamline Dairy to reach 51%

Godrej Agrovet Ltd, the agribusiness unit of Godrej Industries Ltd, has acquired an additional 25% stake in Creamline Dairy Products Ltd for Rs.150 crore. The acquisition, at an enterprise valuation of Rs.550 crore, increases Godrej Agrovet’s stake in Creamline to 51% from 26%. Godrej Agrovet, which has interests in animal… Read more »

India People Dealbook: Jet Airways’s Cramer Ball and Tata Starbucks CEO Avani Davda, resign

In big people movements, Cramer Ball has resigned as chief executive officer of Jet Airways Ltd, the country’s second largest airline by passengers carried, while Avani Davda, chief executive officer of Tata Starbucks Pvt. Ltd has resigned to pursue opportunities outside the group. Jet Airways CEO Cramer Ball resigns Cramer… Read more »

India: Mahindra Holidays acquires majority stake in Sweden’s spa hotel

Mahindra Holidays and Resorts India Ltd, part of Mahindra Group, said on Tuesday that it has bought 51% stake in spa hotel firm Visionsbolaget 10088 AB of Sweden for Rs.7.1 crore. The acquisition was done through Mahindra Holidays’ subsidiary Holiday Club Sweden AB, India’s largest vacation ownership company said in… Read more »

India: GVK exploring fundraising options for airport unit via PE or IPO

GVK Airport Developers Ltd, a wholly-owned subsidiary of GVK Power and Infrastructure Ltd, is exploring various options, over a period, to raise funds either through private equity (PE) investors or an initial public offer (IPO) to reduce its debt burden. In a filing to BSE on Wednesday, GVK Infrastructure said… Read more »