Sun Pharmaceutical Industries Limited, India’s largest pharmaceutical company, has announced equity investments in two healthcare startups – Ezerx Health Tech and Agatsa Software. The pharmaceuticals company said these companies possess innovative technologies in areas of pharma and healthcare. As per a regulatory filing, Sun Pharma has entered into an agreement to acquire 37.76% stake in […]
A bidding war is reportedly heating up for Biogen’s biosimilars portfolio, with three major pharmaceutical companies reportedly offering around $1 billion for the business unit – Samsung Bioepis, India’s Dr. Reddy’s Laboratories, and Intas Pharmaceuticals. Of the three, Samsung and Intas may be placed to gain the maximum from the acquisition. Biogen’s biosimilars division focuses […]
Reliance Retail, the retailing arm of India’s largest private company, seems to be readying alternative strategies now that the dispute over its acquisition of Future Retail – the operator of Big Bazaar super market chain – seems headed for a protracted hearing before the National Company Law Appellate Tribunal. According to a report in Times […]
Bharti Airtel, formerly India’s No.1 telecom operator, said it has acquired a 4.7% stake in India’s largest tower company Indus Towers from Britain’s Vodafone Plc. The company is likely to have paid around Rs 2,650 cr for the stake, going by the current valuation of the tower company. It said the money it pays to […]
Flipkart, one of India’s oldest e-commerce players, said it will sell the Middle East business of Cleartrip, acquired by the company last year, to local rival Wego as part of its strategy to focus on the Indian market. The financial details of the transaction were not revealed. Cleartrip, founded in 2006, is one of the […]
Godrej Properties, one of India’s fastest growing and most profitable real estate companies, said it has got the approval of its board of directors to explore the possibility of acquiring a stake in rival and listed real estate developer DB Realty. “..the Board of Directors of the Company has at its meeting held today, i.e. […]
Bharti Airtel said it will acquire 25% in a Bengaluru based networking software company for an undisclosed amount. Lavelle Networks helps large corporations and organizations create their own virtual networks spread over several physical networks. “Software-defined Wide Area Network is the necessary arsenal for enterprises to transform and future-proof their network infrastructure in this digital […]
Future Retail Ltd, the highly indebted general retailer caught up in a tussle between US-based retailer Amazon and its Indian rival Reliance Retail, said a request made by its independent directors seeking a loan of Rs 3,500 cr was of a preliminary nature. “The communication between Amazon and Independent Directors were of a very preliminary […]
Vodafone Idea will issue around 16 bln shares to Government of India in lieu of interest payments arising out of its decision to defer the payment of spectrum and other regulatory fees by four years, thus making the government the biggest shareholder in the company. The move, subject to valuation confirmation by government agencies, will […]
The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]
Tech Mahindra, the IT services provider from the Mahindra & Mahindra Group, said it has purchased a US-based consulting and IT services provider for $125 mn or Rs 930 cr. The company has 660 employees, and the shares are being purchased from two entities, one in India and another in the US. Most of the […]
With the annual general meeting of Dish TV only five days away, the promoters of the direct-to-home satellite service have filed yet another case in Bombay High Court, hoping to stop YES Bank from exercising voting rights on its stake of over 24%. This is the fourth major legal challenge put in front of YES […]
Zee Entertainment Enterprises and Sony Pictures Networks India are likely to keep both flagship brands of the two companies going after their merger, while investing heavily into sports and digital businesses, according to comments made by Zee management after announcing the deal. “Both the brands are strong brands, and with loyalty attached to themselves. So […]
HSBC, the global financial services giant headquartered in London, has agreed to buy L&T Mutual Fund, the asset management business of L&T Finance — the non-bank financial services arm of the Larsen & Toubro group of India. L&T Finance will get $425 mln, or around Rs 3,200 cr, for the mutual fund unit which has […]
Bank of India, a public sector bank controlled by the government of India, today said it has bought out partner AXA Investment Managers from its mutual fund arm, BoI AXA. “Subject to the terms of the Share Purchase Agreement, Bank of India has paid Rs 900/- towards purchase of equity shares of BAIM and Rs […]
Infosys Ltd, one of India’s top IT services providers, said it has agreed to acquire Singapore Telecom’s Malaysia delivery center for up to SGD 6 million or around Rs 33.3 cr. Global Enterprise International Malaysia “acts as a delivery center to provide customer experience and technology services to Singtel,” the Bangalore-based company said. The company […]
YES Bank, the single largest shareholder of DTH company Dish TV, today said it has not been approached by Bharti Airtel for buying the stake in Dish TV. Prashant Kumar, the MD & CEO of the bank, however indicated that bank is not averse to selling its nearly 26% stake in the company for the […]
Navneet Education Ltd said it has agreed to invest Rs 75 cr in a sports management and services company known as SFA Sporting Services Pvt Ltd to pick up a 14.3% stake. Navneet Education is a developer and supplier of educational books and materials, and said the acquisition would help it offer “sports management” services […]
Reliance Industries said it wants to ‘categorically deny’ any plans to bid for British wired services operator BT. “We categorically deny any intent to bid for the UK telecoms group, BT, formerly British Telecom, as reported in the article titled “Reliance Mulling Bid for UK’s Telco BT Group” published in The Economic Times dated November […]
Life Insurance Corporation of India, a government-controlled insurance company that has the highest share of the market in India, can continue to increase its stake in private lender Kotak Mahindra Bank, having got the nod from Reserve Bank of India to increase its stake to 9.99%. LIC has been increasing its stake in Kotak Mahindra […]
