Hyundai, Kia partner with Exide for EV battery

Hyundai Motor Company (HMC) and group firm Kia Corporation have signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd (EES) for electric vehicle battery localisation in India. (EES is a wholly-owned subsidiary of Exide Industries. It was established in 2022 to foray into the business of manufacturing Lithium-ion cells, modules and packs incorporating … Read more

Jio Financial shifting focus from unsecured to secured

Jio Financial Service (JFS) had earlier planned to concentrate on unsecured lending. Now it has decided to shift focus towards secured loans, including leasing. (It has also set up a 100% leasing subsidiary to undertake lease operations) “Large opportunity in the secured lending space. Noticeable market reaction vis-à-vis unsecured lending leading to calibrated approach towards … Read more

Tata Consumer announces two new acquisitions

1. Capital Foods (CFPL) The Company manufactures and sells chutney, masala, sauces, noodles and soups under the popular brand names – ‘Ching’s Secret’ and ‘Smith & Jones’. Initially, Nestle was rumoured to be acquiring the Company. Finally, it’s Tata Consumer Products that has announced the deal. It’s a 100% acquisition for Rs 5,100 cr Full … Read more

Spicejet interested in Go First and also raises fresh funding

There are two notable developments at Spicejet – It’s interested in looking at the bankrupt Go First for acquisition Has expressed interest to Go First’s Resolution Professional and will submit an offer post diligence Further to it’s recently announced plan to raise fresh capital of $270 mn i.e. Rs 2,254 cr – It has announced … Read more

Mahindra reposes faith in Classic Legends. Infuses fresh capital.

Classic Legends Private Limited (CLPL) is a subsidiary of Mahindra & Mahindra (M&M) incorporated in 2015 to revive classic motorcycle brands such as Jawa, Yezdi and BSA. M&M currently owns 60% of CLPL. CLPL is now raising fresh capital of Rs 875 cr to fund growth. M&M has decided to continue hold on to it’s … Read more

PCBL acquiring Aquapharm

Aquapharm Chemicals Private Limited (ACPL), founded in 1974, is a private company engaged in the business of manufacturing specialty chemiclas offering water treatment solutions to global customers across diverse end-markets. Focus includes water treatment chemicals like phosphonates, biodegradable chelating agents, polymers, biocides, oil field chemicals (imidazoline, quats), which have application in water treatment (desalination, reverse … Read more

TVS ties up for European distribution

TVS Motor has announced a strategic entry into Europe by signing an agreement for import and distribution with Emil Frey, a 100 year old leading name in automotive distribution in Europe. Emil Frey is among the largest automobile importers and retailers in Europe, serving many leading automotive brands across the region. The group has more … 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

AU buys an SFB focused on microfinance

AU Small Finance Bank (AU) is acquiring Fincare Small Finance Bank (Fincare) in a 100% share swap transaction. Fincare is a rural microfinance focused business with 15+ years of experience Microfinance is 53.9% of advances, followed by 18.9% Small Business Loans, 14.2% Home Loans, 10.2% Gold Loans and 2.6% others It’s majorly focused on South … Read more