Search Results for:PR Sanjai

India: GMR raises $300m from sale of bonds to Kuwait Investment Authority

Debt-laden GMR Infrastructure Ltd on Friday said it had raised $300 million by selling foreign currency convertible bonds (FCCBs) to Kuwait Investment Authority. The company’s shares fell sharply on the announcement. These bonds will fall due in 2075 but offer the option of being converted into the equity shares after… Read more »

India: Sun Life Financial to increases stake in Birla Sun Life Insurance to to 49%

Sun Life Financial Inc. of Canada will increase its stake in Birla Sun Life Insurance Co. Ltd, a joint venture with Aditya Birla Nuvo Ltd, from 26% to 49% by spending Rs.1,664 crore to buy additional shares from the Indian partner. Sun Life said increasing the stake is in line… Read more »

India: China’s ICBC comes in as strategic banking partner for $180b Tata Group

Tata Sons Ltd and Industrial and Commercial Bank of China Ltd (ICBC) have formed a long-term partnership, under which ICBC will become a strategic banking partner to the Tata group. Tata Sons is the principal investment holding company of $108 billion Tata Group and promoter of Tata companies. Under the… Read more »

India: Cox and Kings sells adventure unit Explore Worldwide to UK’s Hotelplan

Cox and Kings Ltd, one of the oldest travel agents in India, on Tuesday announced the sale of Explore Worldwide Ltd, its adventure holidays unit in the UK. The company informed stock exchanges that it sold Explore Worldwide, a unit of its subsidiary Holidaybreak Plc, to Hotelplan (UK Group) Ltd,… Read more »

India: New owner Reliance Infra to pull Pipavav Defence out of corporate debt rejig

Anil Ambani-led Reliance Infrastrucrure Ltd, the new owner of Pipavav Defence and Offshore Ltd, on Thursday said it plans to exit the shipyard’s corporate debt restructuring (CDR) programme approved by bankers earlier this year for better financial flexibility. It is subject to approvals from lenders and regulators. Reliance Infrastructure, which… Read more »

India: Bajaj Electricals to acquire Hind Lamps’ manufacturing business

Consumer electrical equipment manufacturer Bajaj Electricals Ltd on Monday said it will acquire the manufacturing business of glass bulb maker Hind Lamps Ltd and merge it with itself. Hind Lamps is one of the vendors for Sekhar Bajaj-controlled Bajaj Electricals, and supplies products under the Bajaj Electricals brand name. An… Read more »

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 »