Page 3 - Acquisition

RattanIndia Enterprises acquires 100% shareholding in EV maker Revolt Motor

RattanIndia Enterprises Ltd on Saturday said it has completed the acquisition of Revolt Motors which is into manufacturing of electric vehicles. Now Revolt Motors has become a 100 per cent subsidiary of RattanIndia Enterprises Ltd, the company said in a statement. "RattanIndia Enterprises Limited has completed acquisition of 100 per cent shareholding in the electric motorcycles market leader Revolt Motors," the statement said. Revolt Motors is the highest selling electric bike in the country with its manufacturing facility in Manesar, Haryana. The EV maker has expanded its footprint pan-India with 30 dealerships spread across the country. Its flagship model RV400 has been witnessing a robust demand and is by far the most technologically advanced bike in the world, and RattanIndia Enterprises seeks to significantly scale up Revolt's growth and make it the largest EV two wheeler company in the country, RattanIndia Enterprises said. Anjali Rattan, Business Chairperson, RattanIndia ..

Axis Bank to pick residual stake in Max Life at fair market value

The revision in valuation has been done according to IRDAI guidance

Gautam Adani among potential suitors for a stake in govt-backed PTC

NTPC, NHPC, Power Grid, and PFC looking to sell stakes of around 4% each

Reliance group firms make open offer to buy 26% stake in Lotus Chocolate

Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate. The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer. The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday. The open offer starts on February 21 and closes on March 6, said the public notice. Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, had on Thursday closed at Rs 149.35 apiece, which was the highest price in the last three months. RCPL is the FMCG arm and a wholly-owned subsidiary of RRVL. The open offer follows RCPL's announcement last week for the acquisition

Mirae Investments acquires industrial asset in Mumbai for Rs 130 cr

Group's first acquisition under India-focused funds allocation for high-grade real estate

Microsoft claims to have no idea why 'Call of Duty' franchise is special

Last year in January Microsoft announced it would spend $68.7 billion to acquire Activision Blizzard, highlighting how it would get 'Call of Duty', 'Warcraft' and 'Candy Crush' for that fee

InCred Capital acquires digital investment firm Orowealth in all-cash deal

Acquisition marks InCred Capital's foray into retail wealth management

Tata Motors completes Rs 725 cr acquisition of Ford's Sanand plant

All eligible employees of Ford India's vehicle making plant have been offered jobs at TPEML on terms, conditions and benefits of service similar to those currently availed by them

Lotus Chocolate hits 5% upper limit as Reliance eyes majority stake

Reliance Consumer Products will acquire 51 per cent controlling stake in Lotus for Rs 74 crore and also make an open offer to acquire additional 26 per cent stake.

JSW Energy completes acquisition of Ind-Barath Energy for Rs 1,047 cr

JSW Energy on Wednesday said it has completed the acquisition of 700 MW Ind-Barath Energy (Utkal) for Rs 1,047.60 crore through insolvency proceedings. "Pursuant to the NCLT (National Company Law Tribunal) approval order, the resolution plan has now been implemented and the acquisition of Ind-Barath Energy (Utkal) Ltd is complete. The resolution amount of Rs 1,047.60 crore has been paid," a BSE filing said. Now, the company holds 95 per cent equity shares of Ind-Barath Energy (Utkal) Ltd and the secured financial creditors collectively hold the balance 5 per cent, as per the terms of the resolution plan. Consequent to this transaction, Ind-Barath Energy (Utkal) Ltd has become a subsidiary of JSW Energy. Earlier the company had intimated on July 26, 2022, that the NCLT Hyderabad had, vide order dated July 25, 2022, (NCLT Approval Order) approved the company's resolution plan submitted on October 3, 2019, under the corporate insolvency resolution process of Ind-Barath Energy, which i

Sheela Foam to buy rival mattress maker Kurlon for $241 million: Report

Indian mattress maker Sheela Foam Ltd will soon acquire competitor Kurlon for 20 billion rupees ($241.29 million), ET Now reported on Wednesday, citing sources

Torrent wins race to acquire RCap with Rs 8,640 crore offer to lenders

The Hinduja group also participated in today's auction but lost the race with a Rs 500 crore lower offer

JK Paper hits record high; stock rallies 10% in four days on stable outlook

In the past one year, the stock price of the paper maker has more-than-doubled or zoomed 129 per cent, as against 10 per cent gain on the S&P BSE Sensex.

New assets, expansion to drive growth for mall firm Phoenix Mills

Brokerages expect double digit earnings growth over the next three years

Edelweiss Alternatives to buy out L&T Infra Development for Rs 6,000 cr

Edelweiss Alternatives on Saturday entered into an agreement with Larsen & Toubro and Canadian Pension Plan Investment Board to pick up their 100 per cent stakes in L&T Infrastructure Development Projects at an enterprise value of Rs 6,000 crore. Edelweiss Alternatives -- an alternative ivestment fund management platform -- in a statement said that the transaction is being executed by a fund managed by Edelweiss Alternatives and it also involves absorbing the operating team. The portfolio of the target company comprises eight roads and one power transmission asset, spanning 4,900 lane kilometres and 960 circuit kilometres, respectively. Following this acquisition, the infrastructure platform will scale up to 26 assets with cumulative annual revenue of nearly Rs 2,700 crore. The platform will be a diverse mix of power transmission and substations, renewables and highway assets. Sreekumar Chatra, managing director of the infrastructure yield strategy fund, said these assets have

Noventiq acquires India's leading cloud managed services provider G7 CR

Noventiq did not disclosed the sum for which it acquired G7 CR Technologies India Pvt Ltd

European cargo airline moves NCLT to acquire 3 Jet Airways aircraft

Fresh challenge for reviving Jet as union opposes sale of assets until employees get provident fund and gratuity

Dalmia Bharat dips 5% a day after inking deal to buy Jaiprakash's biz units

Meanwhile, Jaiprakash Associates dipped 8 per cent to Rs 10.81, falling 13 per cent from its intra-day high, and Jaiprakash Power Ventures declined 5 per cent to Rs 7.90 on the BSE.

TVS Motor's Singapore arm to acquire EV related tech, assets in Germany

TVS Motor Company on Friday said its Singapore-based subsidiary has inked a pact to acquire Electric Vehicle (EV) related technology and assets in Germany. The company, through its wholly-owned subsidiary TVS Motor (Singapore) Pte Ltd (TVSM Singapore) has signed an agreement to acquire the assets, TVS Motor Company said in a statement. TVS Singapore will be acquiring the assets through its subsidiary BBT Vermogensverwaltungs GmbH (name proposed to be changed to Celerity Motor GmbH), it added. The purchase will help strengthen the company's expansion in the electric two-wheeler market globally, TVS Motor said. The company, however, did not disclose financial details.

upGrad's acquisition of test-prep provider Exampur may hit roadblock

Disagreement over valuation of Noida-based company which wants more from the deal, says source