Crompton Greaves (CG) has accepted a binding letter of offer from US-based private equity firm First Reserve International Limited for sale of its international power business (across Europe, North America and Indonesia) at an enterprise […]
Canada-based pension fund Caisse de depot et placement du Quebec, along with other sovereign wealth funds (such as the State General Reserve Fund of Oman and Kuwait Investment Authority), is in advanced stages of negotiation […]
The International Finance Corporation launched its first Uridashi Masala bonds, mobilising Rs 300 million ($4.3 million) directly from Japanese household investors to promote private sector development in India. Masala bonds are rupee-denominated instruments sold to […]
The Andhra Pradesh government has earmarked Rs 26.37 billion for undertaking a number of projects under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) over the next five years. According to the plans, the central […]
Idea Cellular has reportedly offered Rs 40 billion to buy out Providence Equity Partners’ 16 per cent stake in the former’s subsidiary, Aditya Birla Telecom Limited (ABTL). Providence had made an investment of $420 million […]
YES Bank has signed an agreement with the Indian Renewable Energy Development Agency to foster renewable energy development in India. The aim is to help revive green energy financing and help forge a close partnership […]
International ratings agency Fitch is expecting the non-performing asset ratio of banks to improve marginally to 10.9 per cent by the end of this fiscal year from 11.1 per cent in 2014-15. According to Fitch, […]
CRISIL has cut both the short-term and long-term rating of Jindal Steel and Power Limited (JSPL) to CRISIL D from CRISIL A4+ and CRISIL BB+ respectively. JSPL has issued a statement clarifying that the reduction […]
Air India Express, a subsidiary of Air India, is expected to report a profit of Rs 2.5 billion in 2015-16, against a loss of Rs 610 million in 2014-15, on the back of higher aircraft […]
Power Grid Corporation of India Limited’s (Powergrid) board has approved investments aggregating Rs 8.85 billion in two projects. Of this, Rs 8.09 billion is for the strengthening of transmission systems for the transfer of power […]
The cabinet is planning to approve two mega port projects involving initial investments of Rs 150 billion. The ports are to be built in Colachel, Tamil Nadu, and Dahanu, Maharashtra, under the public-private partnership mode. […]
Shapoorji Pallonji and Company Limited is reportedly planning to acquire a 51 per cent stake in KPPL. However, no financial details have been disclosed as the deal is in the initial stages. Karaikal port will […]
Hyderabad-based digital marketing firm Lycos Internet is planning to acquire Austria-based mobile solutions provider TriTelA Gmbh in an all-stock transaction valued at $12 million. As per the terms of the transaction, Lycos will issue 28.48 […]
Nielsen has acquired Mumbai-based Informate Mobile Intelligence, which gathers and interprets data pertaining to mobile usage, for an undisclosed amount. The move will enable both companies to respond quickly to trends across international markets. Prior […]
Tata Communications is reportedly planning to sell its 74 per cent stake in Tata Communications Data Centre Private Limited to Singapore Technologies Telemedia. The deal is said to be valued at $600 million-$650 million. The […]
The shareholders of RCOM have approved the proposed merger of Sistema Shyam TeleServices Limited (SSTL) with RCOM. The deal has already been cleared by bodies such as the Competition Commission of India, the Rajasthan High […]
ONGC Videsh Limited (OVL), along with the Indian Oil Corporation (IOC), Oil India Limited (OIL) and BPCL, is in talks to buy an additional stake of about 35 per cent in Russia’s Vankor oilfield in […]
Reliance Communications (RCOM) and Aircel have decided to renegotiate the terms of their proposed merger. The two operators will combine their wireless business and the parent companies will hold 50 per cent each in the […]
Gujarat State Petronet Limited (GSPL) has bought a 27.43 per cent stake in Sabarmati Gas Limited (SGL) from financial institutions for a consideration of Rs 562.3 million. SGL is a JV of Bharat Petroleum Corporation […]
JNPT is planning to accept vessel-related charges in US dollars, to help earn foreign currency and thus add to India’s foreign exchange reserves. Currently, ships pay in rupee equivalent. Under the new system, JNPT will […]
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