The CMD has shared the following – Havells India is going to venture into electronic manufacturing service (EMS) or contract manufacturing space for appliances such as air-conditioners and washing machines to cater to the increasing demand of global brands to have an Indian manufacturing base (and hence reduce dependence on China). On a pilot basis, … Read more
Cartrade said that it will acquire 100% stake in Sobek Auto India Pvt Ltd, the entity that houses OLX India’s automotive business. It’s an all cash deal Cartrade is paying Rs 537.43 crore for the transaction Olx Auto financials Revenues: FY 22 – Rs 1,110 cr FY 21 – Rs 592 cr FY 20 – … Read more
Bajaj Auto (BAL) has sought RBI approval for setting up a new NBFC. The application is currently under consideration by the regulator. The proposed NBFC is for captive financing of Company’s two wheelers and three wheelers. Currently more than 40% of BAL’s vehicles get financed by Bajaj Finance (BFL, the group company), which in turn … Read more
In 2020, Jio had partnered with Google to develop an ultra-affordable Android-based smartphone to address the mass Indian market that couldn’t shift to smartphone ecosystem due to the unaffordability. The result JioPhone next that was finally launched last year albeit at a higher price then what was planned initially. Result – muted response and hence … Read more
Narayana Hrudayalaya (NH) is in discussions with the regulator (IRDAI) to get into the health insurance business. The plan is to sell a bundled health insurance package that proposes to offer comprehensive care from outpatient consultations to ordering medicines, to health check-ups, diet, physiotherapy and surgeries. In an interview to ET, Viren Shetty, executive vice-chairman … Read more
Chalet has an under construction property at Terminal 3 of the Delhi Airport. It is scheduled to be commissioned by FY 26 The property is planned to have 400 rooms The Company has now signed up with Indian Hotels for franchise of the marquee ‘Taj’ brand for this property. Without doubt this is one of … Read more
It’s an interesting transaction structure – 1st stage – ABFRL will acquire 51% of TCNS at Rs 503/ share for a total cash consideration of Rs 1,650 crore; implying a valuation of Rs 3,235 cr. This is similar to TCNS’s current market price. 20.19% to 29% through open offer. Open offer is to comply with … Read more
SJS is acquiring 90.1% stake in Walter Pack Automotive Products India Private Limited (WPI). WPI is a 85% subsidiary of Walter Pack Spain(WPS) . Remaining 15.0% is held by the Indian promoter and founder, Mr. Roy Mathew. SJS is acquiring the full 85% of WPS and 5.1% from Mr Mathew. Mr Mathew will continue to … Read more
Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more