Nestle India increases royalty to the parent

Nestle India’s board has approved a staggered increase in royalty payout to the company’s Swiss parent Société des Produits Nestlé S.A. (The Company had in 2019 announced that it would seek approval of it’s shareholders every five years for royalty payments to it’s parent company.) Royalty will increase from current 4.5% of net sales to … Read more

Zee founders may have diverted significant funds

Problems seem to be getting further compounded at the Zee group. A month back only, it’s long awaited mega merger with the Sony group was called off (after 2 years of negotiations). During this period, there were many actions taken by the regulators; especially related to the corporate governance. These actions in fact are speculated … Read more

Parent sells sizeable stake in Whirlpool India

Whirlpool Corporation, the American parent has sold 24% stake in its Indian entity, Whirlpool of India. Stake has been sold in the open market for a total value of $468 mn. Sale happened at Rs 1,277/ per share, a discount of 4.5% to the previous day’s closing price. Purpose of the sale has been mentioned … Read more

Quess announces separation of businesses

Quess is separating it’s entire business into three independent entities. Quess Corp Ltd (Current Company): focusing on the core business of Workforce Management Digitide Solutions Ltd (New Company 1): BPM solutions, Insurtech and HRO business For FY23, this segment accounted for 14.49% of the total consolidated revenues of Quess Bluspring Enterprises Ltd (New Company 2): … Read more

Amara Raja MD Galla shuns politics to focus on business

Jayadev Galla, Chief of Amara Raja Batteries has been a two-time Member of Parliament for the Telugu Desam Party (TDP). He has announced taking a break from electoral politics to focus on business “without fear of reprisals and attacks”. “It is with a heavy heart that I announce my decision to not contest in the … Read more

Bajaj Auto announces buyback at steep premium

Key points related to the buyback are – 4,00,000 equity shares, representing 1.41% of the total shares would be bought back at Rs 10,000/ share i.e, Rs 4,000 crore of total consideration (excluding the associated costs and fees). Company may later decide to increase the buyback price without increasing the total consideration amount of Rs … Read more

Aster is separating the GCC business

In a market cheering, value unlocking move, Aster DM Healthcare (ADHL) has announced segregation of the India and the GCC business. Post-segregation, ADHL  will be a focused listed entity holding the India business. The GCC Business will be separated from ADHL to create Aster GCC (AGCC). 100% of the GCC Business will be acquired by … Read more

Eris buying Biocon’s two non core formulations business units

Eris is acquiring Dermatology and Nephrology branded formulations business units of Biocon Biologics (BBL), a subsidiary of Biocon Limited. The transaction is a Slump Sale Revenues of the acquired businesses for FY 2022-23 was Rs. 90 Cr and Net Worth was Rs. 25 Cr as at March 31, 2023 Transaction value is Rs 366 cr, … Read more

Petronet announces a major capex into Petrochemicals

The Company has announced a major greefield capex into setting up a new petrochemical facility at Dahej, Gujarat. The proposed project includes 750 KTPA of Propane Dehydrogenation (PDH) & 500 KTPA of Propylene (PP) plant including propane and ethane handling facility. The project will generate revenue from the sale of polypropylene, propylene, propane, hydrogen and … Read more