Equity Moves

Saudi Arabia-based Aramco is seeking a dialogue with India to buy a stake in the world’s biggest refinery-cum-petrochemical complex that the country plans to build in Maharashtra at a cost of $40 billion. Saudi Aramco […]

Petronet LNG Limited is in talks to acquire a 25 per cent equity stake in the Gujarat State Petroleum Corporation’s (GSPC) Mundra LNG terminal project. GSPC first offered its 50 per cent stake to Indian […]

The Union cabinet has granted in-principle approval to sell the government’s stake in state-owned airline Air India. The government has been exploring ways to privatise the loss-making national carrier, which was bailed out in 2012 […]

ONGC Videsh has signed definitive binding agreements with Tullow Namibia Limited, a wholly owned subsidiary of Tullow Oil plc, for acquiring a 30 per cent participating interest in Namibia Petroleum Exploration License 0037 for Blocks […]

The Edelweiss Asset Reconstruction Company has concluded the buyout of a majority stake in debt-ridden Adhunik Power and National Resources for Rs 28 billion. Most of the 24-member consortium, led by the State Bank of […]

PE firm Warburg Pincus has invested about Rs 7 billion ($100 million) in CleanMax Enviro Energy Solutions Private Limited, a rooftop solar project developer. Reportedly, it is Warburg’s seventh transaction in India in the past […]

GVK Power and Infrastructure Limited has sold its residual 10 per cent stake worth Rs 12.9 billion in Bangalore International Airport Limited to Fairfax India Holdings Corporation. The proceeds of the sale will be used […]

The Competition Commission of India (CCI) has allowed Tata Sons to buy NTT DOCOMO’s 21.6 per cent stake in Tata Teleservices Limited (TTSL). Tata Sons recently sought permission from the CCI to buy DOCOMO’s stake. […]

The Reserve Bank of India (RBI) has allowed foreign investors to increase their stake to 49 per cent (from the earlier 24 per cent) in telecom infrastructure firm Tejas Networks. Foreign institutional investors/foreign portfolio investors […]

Adani Ports and Special Economic Zone Limited (APSEZL) is reportedly exploring the possibility of acquiring a controlling stake in Gujarat Pipavav Port Limited (GPPL). APSEZL has initiated the process to acquire APM Terminals Management B.V.’s […]

HPCL is likely to raise Rs 270 billion for its Barmer refinery-cum-petrochemical project soon. The estimated cost of the project is Rs 431.12 billion. HPCL plans to raise Rs 270 billion through debt while the […]

Gammon Infrastructure Projects Limited (GIPL) has acquired a 24 per cent stake in Indira Container Terminal Private Limited (ICTPL) from Spain’s Noatum Ports, S.L.U. for Rs 150 billion. A total of 24.37 million of equity […]

GR Infraprojects Limited has sold two of its road projects – the Jodhpur-Pali four-laning highway project (National Highway [NH]-65) and Shillong Bypass two-laning road project (NH-40 and NH-44) to IDFC Alternatives’ India Infrastructure Fund II. […]

Vodafone India has agreed to sell an additional 9.5 per cent stake to the Aditya Birla Group after the two companies merge their telecom operations. The additional stake will be sold for Rs 130 per […]

IDFC Alternatives, the private equity arm of IDFC Bank, has bought a 33 per cent stake in New Silk Route (NSR)-backed tower company Ascend Telecom Infrastructure Private Limited. IDFC Alternatives bought Ascend Telecom’s shares worth […]

One97 Communications is set to raise over Rs 120 billion from Japan’s media and telecom conglomerate SoftBank. The deal will result in SoftBank securing a 20 per cent stake in the company. In 2016, Paytm, […]

IL&FS Transportation Networks Limited (ITNL) has sold its entire stake in Andhra Pradesh Expressway Limited (APEL) to Cube Highways and Infrastructure Private Limited for Rs 14 billion. APEL is an SPV incorporated in November 2005 […]

The Competition Commission of India (CCI) has approved Reliance Communications’ (RCOM) proposed sale of a 51 per cent stake in Reliance Infratel Limited to Canada-based Brookfield Infrastructure Group. In October 2016, RCOM had signed a […]

Bharti Airtel has completed the secondary sale of a 10.3 per cent stake in its subsidiary, Bharti Infratel Limited, to a consortium of funds including private equity firm KKR and Canada Pension Plan Investments Board […]

GVK Power and Infrastructure Limited has completed the sale of a 33 per cent equity stake in Bangalore International Airport Limited (BIAL) to FIH Mauritius Investments Limited and the Fairfax India Holdings Corporation. The divestment […]