Tanya Thomas

India: Warburg-backed CleanMax Solar plans to raise $100m

The firm is expanding in the Middle Eastern and South-East Asian markets (Thailand and Vietnam).


Singapore’s Cube Highways, CPPIB likely bidders for NHAI’s $1b toll road auction

This round of auctions may also see investments made through infrastructure investment trusts (InvITs)


Liberty House’s resolution plan for Adhunik, Zion receives lenders’ support

For Liberty House promoted by British industrialist Sanjeev Gupta, this will be the first acquisition in India. It has bids running for three other bankrupt firms—Bhushan Power and Steel, Amtek Auto and ABG Shipyard.


JSW Energy, Adani  submit EoIs for bankrupt Monnet Power

This is the second time that JSW Energy has expressed interest in Monnet Power.


Billionaire Anil Agarwal’s Vedanta acquires bankrupt Electrosteel for $794m

This acquisition marks Vedanta’s entry into steelmaking in India.


Binani Cement lenders back UltraTech’s offer as legal battle reaches India’s top court

The acquisition of Binani Cement will, however, be subject to the Supreme Court’s ruling, with a Dalmia Bharat Ltd-led consortium challenging the 15 May order of the National Company Law Appellate Tribunal that allowed lenders to consider UltraTech’s revised offer. The offer was submitted after lenders selected Dalmia as the top bidder.


India: UltraTech to acquire Century Textiles’ cement business in all-stock deal

The enterprise value of Century’s cement business is pegged at Rs 8,561 crore and UltraTech will absorb debt of Rs 3,000 crore.


JSW Steel said to have acquired Italy’s Aferpi for $88m

The acquisition will help JSW Steel to expand its reach in the specialised steel market, especially in the automobile sector.


India: Lenders set to back ArcelorMittal’s bid for beleaguered Essar Steel

ArcelorMittal had submitted a higher bid than Numetal for Essar in the first round.


India: IRB Infra investment trust to borrow $675m to fund asset purchases

InvIT has a portfolio of toll road concessions in seven operational assets in Indian states.