In the latest M&A deals, ICICI Bank has entered into an agreement with BSE to buy stake in its subsidiary INX, while L&T has increased Mindtree stake to 26.53 per cent. Meanwhile, Aircel’s lenders have reportedly approved UVARCL’s proposal to acquire the company.
ICICI Bank buys INX from BSE
INX is an exchange located in GIFT City, IFSC, Gandhinagar, Gujarat. Post the proposed investment, ICICI Bank would own up to 9.9 per cent in INX, the bank said in a regulatory filing.
L&T increases Mindtree stake to 26.53%
The latest stock purchase was made at Rs979.99 apiece.
Earlier this month, L&T increased its ownership in the software services firm by buying shares from V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about Rs3,210 crore.
Aircel lenders approve UVARCL buyout
The lenders have reached an agreement to take a haircut of about 80-85 per cent, The Hindu BusinessLine reported.
UVARCL had offered Rs150 crore upfront payment, with proposals for additional funding on successful running of the businesses, the report said.