India: IVRCL lenders eye asset sales to recover dues ahead of finding new owner


Lenders have 18 months to find a new owner for IVRCL, but before that, individual assets may be sold to improve the operational performance.

India: RBI allows banks more time to exit assets under strategic debt rejig scheme

In June 2015, RBI introduced the SDR rules, which allowed banks to convert loans into majority equity, and find a new buyer for the company over a period of 18 months.

India: HDFC puts $750m masala bonds plan on hold due to adverse rates

The country’s India’s biggest mortgage lender Housing Development Finance Corp (HDFC) has dropped its plans for an overseas sale of rupee bonds — also known as masala bonds — due to adverse interest rates, as per a report in The Economic Times.  The company will revisit the plan as the… Read more »

Indian Railways to set up holding company for divesting public sector assets

PSUs under Indian Railways include Indian Railway Construction Co. Ltd (IRCON), Indian Railway Finance Corp., Container Corp. of India Ltd, RailTel Corp of India Ltd and Indian Railway Catering and Tourism Corp.

India: Snapdeal puts 200 employees on notice, staff moves labour department

This comes at a time when Amazon India has hired half-a-dozen top managers aimed at consolidating its gains as well as expanding the scope of its business.

India: Resonance Eduventures delays IPO, PE investors eye stake sale

Resonance Eduventures Ltd, which prepares students for competitive exams, has deferred plans for an initial share sale and its private equity (PE) investors are now looking to sell their stakes in a secondary transaction for around Rs.500 crore, according to three people aware of the development. “The firm had initiated work… Read more »

India: French energy producer Engie to sell stake in Meenakshi plant

French energy producer Engie SA said on Thursday it will sell its majority stake in the 1,000 megawatt (MW) Meenakshi Energy coal-fired thermal plant in Andhra Pradesh to India Power Corp. Ltd, a Kanoria family trust entity with interests in wind and thermal power. It did not disclose the value… Read more »

Amazon’s Jeff Bezos has the best hand in India’s e-commerce game

Indian e-commerce is a three-way poker game between’s Jeff Bezos, Tiger Global Management’s Lee Fixel and SoftBank’s Masayoshi Son. The first round of betting on pocket hands happened in the summer of 2013, when Bezos launched Amazon India

India: Funding deals will happen, but valuations might be hit, say investors

Investors say that the amount of funding is not going down, but startups need to try harder to gain access to that.

India: United Spirits chairman Vijay Mallya steps down. Diageo to pay him $75m over five years

UK firm has greed to drop all charges of irregularities under Mallya’s watch. Male, who has been declared as declared wilful defaulter by some of India’s leading banks, has also agreed to a global (excluding United Kingdom) five-year non-compete arrangement with Diageo.