The Company has missed the last date for payment of Rs 3,494.56 crore to banks and others lenders. Key points to note – The last date for payment was December 31, 2021. The due date was as per the One Time Restructuring (OTR) plan approved by the lenders in April 2021 under an RBI announced … Read more
A board decision has been taken to look for the best possibilities and parallely a wholly owned subsidiary to be created to provide a ready vehicle for restructuring. Key points to note – Bajaj Electrical (BE) is present in two segments Consumer Products (CP) – appliances, fans, consumer lighting Engineering Procurement and Construction (EPC) – … Read more
In line with the ongoing industry trends, JSW Energy too separates it’s Green (Renewables) from Grey (Thermal) business into a separate 100% owned subsidiary – JSW Energy Neo. Key Points to note: The Company targets to reach a power generation capacity of 20GW by 2030 compared with 4.5GW currently. Of the current capacity 30% is … Read more
In line with Reliance’s increasing focus on renewables and hydrogen, the Company has decided to put gasification assets into a separate 100% subsidiary. Key points to note – The Gasification project at Jamnagar was set up to repurpose refinery off-gases and produce Syngas to be used for production of olefins at lower costs. Syngas is … Read more
IPCA already owns 9.84% of Lyka. Besides, IPCA’s promoters separately held 1.18% in Lyka. It has now bought additional 16.73% from Lyka’s shareholders taking it’s total stake to 26.57% (excluding the above 1.18%). Key points to note – In line with the regulations, the transaction has kicked an open offer of additional 26% at the … Read more
There was a rumour few months back that Kubota will buyout Nanda family. What has instead happened is that Kubota has decided to invest fresh and become a joint promoter with Nandas. Key points to note – Kubota is investing Rs 1,873 crore into Escorts at a price of Rs 2,000/ share. As per regulations, … Read more
Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years. Four investments of $275 mn – $100 mn for 9.3% stake in Grofers $50 mn in Curefit along … Read more
As per the news reports, a merger between the unlisted Shriram Capital (SC) and the listed arms – Shriram Transport Finance Company (STFC) and Shriram City Union Finance (SCUF) may be announced soon. Key points to note – The proposed merger of the three entities is targeted towards group consolidation of NBFC business under one … Read more
Sundaram Finance Holdings (SFH) is putting in further 2 million Euros in it’s portfolio company Mind S.r.l., Italy (MSI), to augment the working capital needs and for further growth. Key points to note – MSI manufactures carbon fibre components for the automotive industry in Europe. SFH had acquired 40.6% stake in MSI last year for … Read more