Merger would create new leader in British mobile market; Vodafone in talks about creating a 51%-49% joint venture; deal structured using debt, with no cash consideration
Merger between LIC Mutual Fund and IDBI Mutual Fund is at a "fairly advanced stage", a top official said on Thursday. "The process is on, it is at a fairly advanced stage," LIC MF's managing director and chief executive T S Ramakrishnan told reporters, when asked about reports of the merger. Recent media reports have said that LIC Mutual Fund plans to absorb IDBI Mutual Fund following a regulatory diktat barring a single promoter from owning more than 10 per cent stake in two asset management companies. IDBI Bank, the parent of IDBI MF, is majority owned by LIC for the last few years. Ramakrishnan added that as and when LIC MF, the 22nd largest MF in the country with over Rs 18,000 crore in assets under management, is in a firm comment on the merger process, it will inform everybody. According to reports, there were two attempts to sell IDBI Mutual Fund that could not be successful, and it resulted in the merger with a company owned by the same parent. Meanwhile, Ramakrishnan said
Merger is part of Tata group plan to bring similar businesses under a single umbrella like Tata Steel's merger of seven subsidiaries with itself to consolidate its metals and mining businesses
Brahmastra has done well for the cinema industry. It has put the Boycott-Bollywood movement to rest.
In a Q&A, Koushik Chatterjee, says the decision to merge seven group firms is a priority for Tata Steel and the entities involved. He adds that rupee depreciation will influence steel prices
The Tata Group has started an exercise to evaluate options to consolidate AirAsia India and Vistara under Air India to bring operational synergies among the three airlines under its umbrella, sources said. Air India, which the group had taken control of in January after winning the bid to acquire the national carrier for Rs 18,000 crore in October last year, has set up a team under its Director of Operations, R S Sandhu, sources familiar with the development said. The team will evaluate synergies in operations between Air India Express and AirAsia India as well as between Air India and Vistara, they said. "Air India CEO and MD Campbell Wilson has set up this team, which will look into synergy between Air India Express and AirAsia India and also between Air India and Vistara and how to achieve the merger," a source said. The team has been asked to submit its plan within one year, the source added. It is understood that the plan is to achieve consolidation of AirAsia India into Air
Fair-trade regulator Competition Commission of India (CCI) on Monday approved the proposed merger of Jio Cinema OTT with Viacom18 Media. In a tweet on Monday the CCI said it has approved amalgamation of the Jio Cinema OTT platform with Viacom18 Media, following an investment by BTS Investment and Reliance Projects & Property Management Services. In April, Reliance Industries Ltd (RIL) and Viacom18 announced a strategic partnership with Bodhi Tree Systems, where Bodhi Tree will invest Rs 13,500 crore in Viacom18 while Reliance Projects & Property Management Services, a wholly-owned subsidiary of RIL, will invest Rs 1,645 crore in the broadcaster as part of the tripartite partnership, to form one of the largest TV and digital streaming firms in India. Under the partnership, Reliance's popular Jio Cinema OTT app will be transferred to Viacom18. Bodhi Tree Systems (BTS) is an investment venture firm of James Murdoch's Lupa Systems and ex-chairman of Star and Disney India Uday ...
Firms propose pricing concessions to CCI, Sony-Zee not proposing structural changes for now, say sources
Ujjivan Small Finance Bank (SFB) on Monday launched its QIP (Qualified Institutional Placement) with a floor price of Rs 21.93 per share to meet the regulatory requirement ahead of merger with its parent company. In February this year, the lender had informed raising of up to Rs 600 crore by issuing shares to qualified institutional buyers in order to meet the regulatory requirements for amalgamation with its parent firm Ujjivan Financial Services. The Merger and Placement Committee of the board has, at its meeting held on September 12, 2022, passed resolutions for authorising the opening of the issue today and approved the floor price for the issue at Rs 21.93 per equity share, Ujjivan SFB said in a regulatory filing. Floor price refers to the minimum price in a share issuance programme. Ujjivan SFB said a meeting of the Merger and Placement Committee of the board is scheduled to be held on September 15, 2022 to consider and approve the issue price, including any discount. An ...
In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday
Zee in a statement said it continues to take all the required legal steps to complete all the necessary approval processes for the proposed merger
Fair trade regulator Competition Commission of India (CCI) on Thursday approved the proposal to merge Creixent Special Steels and JSW Ispat into JSW Steel. In May, JSW Steel announced the merger deal. JSW Steel and JSW Ispat are into manufacturing and sale of steel products while Creixent Special Steels (CSSL) is in the business of holding investments. In a tweet on Thursday, CCI said it has approved the "amalgamation of Creixent Special Steels and JSW Ispat Special Products with and into JSW Steel". Separately, the watchdog has cleared the proposed acquisition of Varmora Granito Pvt Ltd and other entities by the Carlyle Group entity Katsura Investments. The combination involves Katsura's Investments' acquisition of up to 40 per cent stake in the Varmora Granito Pvt Ltd along with acquisition of certain rights in the company and certain other target entities. The regulator has approved the "acquisition by Katsura Investments in Varmora Granito Pvt Ltd and certain other entities;
The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.
UGC might introduce a common entrance exam for NEET and JEE, named CUET for entrance into undergraduate courses. The objective of this exam is to reduce pressure and have one exam instead of three
Public sector undertakings (PSUs) in non-strategic sectors shall be considered for privatisation, or they shall be closed, said Minister of State Finance Bhagwat Karat in Rajya Sabha.
Merged entity to retain Zee's stock market listing, though Sony would provide large cash injection and hold 51% stake
Upon the scheme becoming effective, all the subsidiaries of Allsec will become subsidiaries of Quess.
Upon the scheme becoming effective, Mindtree shareholders get shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree
Last week, Bodhi Tree Systems, an arm of James Murdoch's Lupa Systems, announced that it will be picking up a 40 per cent stake in Viacom18 for Rs 13,500 crore
Four general insurers have decided to restructure the organisation towards profitable growth and have called for Request for Proposal (RFP) from consultancy firms