Godrej Industries (GIL) has communicated the following – GCL, the financial subsidiary of GIL was started in 2020 and since then has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). It is currently present across Mumbai, Bengaluru, Delhi NCR, … Read more
The bid has been won by the consortium led by Bandhan Financial Holdings Limited (BFHL) and includes GIC and ChrysCapital. Key factual points on the acquisition –Â BFHL is the non-operative financial holding company of the Bandhan group. It is the promoter of Bandhan bank and currently owns ~40% stake in the Bank. IDFC mutual … Read more
Tejas is acquiring 100% of Saankhya Labs (SL), a Bengaluru headquartered Company focused on developing telecom products and equipment. Key points to note – Acquisition is in two stages 1st stage – 64.40% for Rs 283.94 crore cash to be completed in 90 days 2nd stage – Balance 35.60% after 1st stage through merger or … Read more
Finally after months of speculation, Axis has formally announced the acquisition. What is Axis acquiring? Consumer banking businesses of Citibank India – credit cards, retail banking, wealth management and consumer loans. Citi’s non-banking financial company, Citicorp Finance (India) Ltd – Commercial Vehicle loans, Construction Equipment Loans and Personal Loans. Access to Citi’s 7 offices, 21 … Read more
In a surprise announcement, the two major cinema brands in India have decided to merge together. (It’s important to note here that until recently, it was rumoured that PVR and and Inox are in talks with the Mexican company Cinepolis for a possible merger.) Key points on the PVR-Inox merger It’s a share swap merger … Read more
New age companies are not hesitant in trying radical initiatives and Zomato after continuing to struggle in it’s core business has now announced one. The Founder, Deepinder Goyal announced on Twitter about them soon getting into trials of 10 minute food delivery. Key points to note – The initiative is named as Zomato Instant. New … Read more
After Zivame and Amante, Reliance Retail Ventures Limited (RRVL) has now announced acquiring Clovia, another direct to consumer (D2C) women lingerie brand. Key points to note – Founded in 2012, Clovia has previously raised a total of $22 mn from various investors. Last round was in December 2020, when it had raised Rs 14.3 crore … Read more
Suzuki Motor Corporation, Japan (SMC) has announced the following – At Suzuki’s existing facility in Gujarat Rs 7,300 crore to set up a EV Battery manufacturing facility by 2026 Rs 3,100 crore towards increasing the manufacturing capacity of EVs by 2025 Key points to note – SMC owns 56.37% of Maruti Suzuki India (MSI). MSI … Read more
After investing $100 mn (Rs 750 cr) for a minority stake in Blinkit (Grofers) last year, Zomato now approves a further investment upto $150 mn (approx Rs 1,150 cr) into the Company. Key points to note: The subject investment is in the nature of loan to be disbursed in one or more tranches. Rate of … Read more