PR Sanjai

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 »

India: Zensar ropes in HCL Tech’s Sandeep Kishore as MD & CEO

Zensar Technologies Ltd, an RPG Enterprises’ group company, named Sandeep Kishore as chief executive officer and managing director. Kishore will join Zensar on 12 January and take over leadership of the company from Ganesh Natarajan, whose term comes to an end on 30 April 2016. He will be based in… Read more »

A quest for design, style leads India’s Mahindra to buy Italy’s Pininfarina

The acquisition illustrates the global ambitions of Mahindra and Mahindra, which acquired controlling stakes in Ssangyong in 2011 and PSA Peugeot Citroen’s motorcycle unit early this year.

Havells India to sell majority stake in overseas units to China’s Shanghai Feilo Acoustics

Electrical equipment company Havells India Ltd on Thursday said that it will divest its majority stake in its overseas subsidiary units Havells Sylivania Malta Ltd and Havells Exim Ltd of Hong Kong to lighting equipment maker Shanghai Feilo Acoustics Co. Ltd of China to focus on India market. Havells India… Read more »

Tata Comm concludes deal to sell Neotel fixed line biz in South Africa to Vodacom

Tata Communications Ltd on Tuesday said it will sell the fixed-line assets of its South African telecom subsidiary Neotel Pty Ltd to Vodacom SA, a subsidiary of Vodafone Plc, under a revised deal. The financial terms of the transaction were not disclosed. The revised deal excludes Neotel’s wireless spectrum and… Read more »

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 »