Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more
In September 2021, SpiceJet had taken shareholders’ approval to transfer it’s cargo and logistics services business to its subsidiary, SpiceXpress and Logistics Private Ltd. (SLP), on a slump-sale basis, for Rs 2,555.77 cr. In it’s board meetings dated February 27, 2023, it has finally fixed April 1, 2023 as the date from which cargo business … Read more
Bombay High Court has quashed the write off of Rs 8,500 crore additional Tier-1 (AT1) bonds issued by Yes Bank (YBL); write off was part of a restructuring plan to rescue the Bank in March 2020. “It appears that administrator exceeded his powers and authority in writing off AT-1 bonds after the bank was reconstructed … Read more
IIFL has decided to streamline the focus and remove the business overlap amongst it’s group entities, 5Paisa Capital and IIFL Securities (IIFLS). Pursuant to the reorganisation, Online Retail Trading (ORT) Business of IIFLS is being transferred to 5Paisa. The business being transferred is where customers are digital savvy and/ or millennials. They only need a … Read more
Shriram Finance (SFL) is the consolidated NBFC arm of the Shriram group. It is formed through the merger of Shriram Transport Finance (STFC), Shriram City Union Finance (SCUF) and Shriram Capital (SC). The management has shared the following key pointers on the way ahead – In next 3 years, Vehicle loans will reduce from 77% … Read more
Oberoi Realty (Oberoi), through it’s wholly owned subsidiary Oberoi Constructions Limited (OCL) has a JV – Oasis Realty (Oasis) with Mr Sudhakar Shetty (Sahana Group). Oberoi group holds 32.5% in the JV. Oasis has constructed a residential project, ‘Three Sixty West’ situated at Annie Besant Road, Worli, Mumbai. Oberoi has now called for an EGM … Read more
Alongside Q2 FY 23 results, Reliance Industries Limited (RIL) has announced demerger and listing of a subsidiary, Reliance Strategic Investments Limited (RSIL) to focus on the financial services segment. RSIL is currently a wholly-owned subsidiary of RIL and is a RBI-registered non-Deposit taking Systemically Important (ND-SI) Non-Banking Financial Company (NBFC). RIL will demerge it’s financial … Read more
As per newspaper reports, mobile tower giant Indus Towers (Indus) is learnt to have asked debt-ridden Vodafone Idea (VIL)Â to clear outstanding dues and pay every month on time for continuity of the business post-November. The step is supposedly taken after the independent directors of Indus raised concerns on the mounting receivables from VIL At … Read more
On Aug 24, 2022, AMG Media Networks Limited (AMG), a wholly owned subsidiary of Adani Enterprises, bought 100% of the equity stake in Vishvapradhan Commercial Private Limited (VCPL) for Rs 113.74 crore. It is through this company (VCPL) that Adani Enterprises is acquiring indirect stake in NDTV. VCPL held warrants of Radhika Roy Prannoy Roy … Read more