Search Results for:PR Sanjai

Tata Communications in talks with Vodacom to revise sale terms of African arm Neotel

Tata Group-controlled Tata Communications Ltd said on Monday it is in talks with Vodacom SA for a revised transaction structure to sell its South African subsidiary, Neotel. Tata Communications informed the exchanges that an agreement has been reached between the shareholders of Neotel and Vodacom SA for the latter to… Read more »

India: Agri seed company Advanta to merge with group company UPL

Agro-chemical producer UPL Ltd, formerly known as United Phosphorus Ltd, on Monday said it has decided to merge its agriculture seed company Advanta Ltd with itself in a bid to improve shareholder value and simply the group structure. In a filing to stock exchanges by the company, the merger is… Read more »

India: Eros  International Media considers share buyback

Eros International Media Ltd, producer and distributor of movies, may buy back equity shares from the market even as its parent Eros International Plc fights allegations of financial misreporting. The company is well-funded and will not change its accounting practices despite the allegations as its top investors are standing by the… Read more »

India: Essar Ports will cease to exist as a publicly traded company after delisting

The Ruias-controlled Essar Ports Ltd will cease to exist as a publicly traded company as its promoters have successfully delisted the firm. JM Financial Institutional Ltd, manager to the delisting process, on Tuesday said that the delisting offer would be deemed to be successful. The delisting price was fixed at… Read more »

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 »