For almost a year, I have been confused about how Future retail stores are getting funding to operate given – the poor financial health of the group; and 2020 deal with Reliance retail not getting concluded due to the legal dispute with Amazon. Operating the stores meant expenses in the form of lease payments, employee … Read more
Crompton Greaves Consumer Electricals (CGCE) has announced acquiring a controlling stake in Butterfly Gandhimathi Appliances (BGA). Key points to note: CGCE is acquiring 55% stake from BGA’s promoter group @ Rs 1,403/ share Consideration value for this tranche comes to Rs 1,379.68 crore Promoters total stake in BGA is currently 64.78%. Balance not selling may … Read more
Kalpataru Power Transmission (KPTL) has announced to merge it’s subsidiary, JMC Projects with itself. Key points to note – KPTL currently owns 67.75% of JMC. It’s an equity merger and the swap ratio is determined as 1 share of KTPL for every 4 shares of JMC. Their respective last closing prices were Rs 389 and … Read more
Jio is investing $200 mn into Glance. Key points to note – Glance, founded in 2019 is a subsidiary of inmobi. Glance has two platforms: Roposo – creator led live entertainment commerce Glance – live entertainment, commerce and gaming on mobile lock screen For it’s investment, Jio willl get about 17% stake in Glance, implying … Read more
Godrej Consumer Products (GCPL) is selling Bblunt’s consumer products and saloon business to Mamaearth. Key points to note: Acquisition is by Mamaearth’s parent Company Honasa consumer. Bblunt’s products business will be completely owned and managed by Honasa Bblunt’s saloon business will continue to operate as an independent entity GCPL held 30% of Bblunt and balance … Read more
Indiamart has recently announced a series of acquisitions/ investments. 1. Rs 500 crore for 100% buyout of Busy Infotech Private Limited Consideration is entirely paid in cash. The company provides ‘BUSY Accounting Software’ – a web based business accounting solution for the companies. The solution also offers GST billing & return filing, TDS/TCS, configurable GST … Read more
Nazara plans to acquire 55% of Dataworkz, a digital advertising company. Key points to note – Dataworkz was founded in 2013 by Senthil Govindan, an IIM Ahmedabad Alumnus. For the calendar year 2021, it reported Revenues of Rs 90.7 Cr and EBIDTA of Rs 11 crore. As the net profit number is not disclosed, very … Read more
Reliance continues on it’s expansion spree. The Company now announces to buy 73.37% of Mandarin Oriental New York (MONY) for $98.15 mn i.e. approx Rs 735 crore. Key points to note – The acquisition is by Reliance Industrial Investments and Holdings (RIIH), a wholly owned unit of Reliance Industries. RIIH is buying the entire issued … Read more
Airtel has informed that it will not be going ahead with the corporate restructuring plan it had announced in April 2021. What was the restructuring plan? Airtel categorises it’s business under four verticals – India, International, Digital and Infrastructure. The 1st two consist of it’s telecom operations. As per the restructuring plan, it wanted to … Read more