This is further to the ongoing consolidation/ restructuring at Akzo Global. The Indian entity has been in the market to sell its decorative paints business. Now, it’s selling the power coatings business and the R&D centre to the Netherlands-based parent entity. Akzo Nobel N.V. (the parent) will be paying Rs 2,073 crore and Rs 70 … Read more
C.E. Info Systems (MapmyIndia) has made some surprise announcements. Rohan Verma, the CEO and Executive Director of the Company is stepping down from the CEO position to float a new B2C Venture He however, will continue to the Non-Executive Director of MapmyIndia MapmyIndia will provide the following support to the new B2C Venture by Rohan … Read more
Board has in-principally approved to separate the Ice Cream business into a separate listed entity. Ice Cream business includes brands such as “Kwality Wall’s”, “Cornetto” and “Magnum” Decision is not final and is subject to the further evaluation and steps required as per the law. Final proposal for approval will be put in front of … Read more
Recently, Supreme Court had dismissed pleas by Indian telecom operators to re-compute Adjusted Gross Revenue (AGR) dues. The companies had sought corrections in the AGR calculations, a penalty reduction, and interest rate adjustments. This resulted in significant implications specifically for Vodafone Idea (VIL), whose burden has now increased to Rs 70,320 cr as of FY24. … Read more
Gujarat Gas has announced a significant scheme of arrangement. It involves reverse merger of Gujarat State Petroleum Corporation (GSPC, unlisted), GSPC Energy (GEL, unlisted), and Gujarat State Petronet (GSPL, listed) into Gujarat Gas (GGL, listed). Additionally, GGL’s gas transmission business will be carved out and listed separately as GSPL Transmission Limited (GTL) on the stock … Read more
Piramal Enterprises (PEL ) has approved it’s merger with wholly owned subsidiary Piramal Capital & Housing Finance (PCHFL). Post merger the the resultant entity will be renamed as Piramal Finance (PFL). Current businesses of PEL and PCHFL PEL is a non-deposit taking Non-Banking Finance Company – Investment and Credit Company (NBFC- ICC), engaged in the … Read more
Quess is separating it’s entire business into three independent entities. Quess Corp Ltd (Current Company): focusing on the core business of Workforce Management Digitide Solutions Ltd (New Company 1): BPM solutions, Insurtech and HRO business For FY23, this segment accounted for 14.49% of the total consolidated revenues of Quess Bluspring Enterprises Ltd (New Company 2): … Read more
In a market cheering, value unlocking move, Aster DM Healthcare (ADHL) has announced segregation of the India and the GCC business. Post-segregation, ADHL will be a focused listed entity holding the India business. The GCC Business will be separated from ADHL to create Aster GCC (AGCC). 100% of the GCC Business will be acquired by … Read more
Glenmark Pharma (GPL) is selling 75% stake in Glenmark Life Sciences (GLS) to Nirma. GPL currently holds 82.84% in GLS. Post transaction it would be left with 7.84%. The transaction has been agreed at Rs 615/ share implying an equity valuation of Rs 7,535 cr for GLS. GPL will get Rs 5,651.5 cr for 75% … Read more