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, ADHLÂ 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
Along with it’s Q1 FY24 quarterly results, Maruti Suzuki India (MSI) has announced acquisition of it’s contract manufacturing facility, Suzuki Motor Gujarat Private Limited (SMG) from Suzuki Motor Corporation (SMC). In 2014, MSI had taken shareholders approval to allow SMC set up SMG as a 100% subsidiary that will contract manufacture for MSI. In line … Read more
It was long awaited and finally ITC‘s board has taken the decision to demerge the hotels business into a new entity. Name of the new entity is proposed to be “ITC Hotels Limited (IHL)” In such kind of demergers, normally existing shareholding of the main Company gets replicated in the new entity i.e., 1:1 share … Read more
Background about the restructuring IDFC was granted in-principle approval by RBI to set up a bank in April 2014, leading to the creation of IDFC Bank Limited and IDFC Financial Holding Company Limited (IDFC FHCL). IDFC FHCL is the non operative holding company and in compliance with the RBI regulations, was mandated to hold the … Read more
HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more
The Company, has approved selling it’s low voltage motors and geared motors businesses (forming part of the Digital Industries business) to Siemens Large Drives India Private Limited, (a subsidiary of Innomotics GmbH, which in turn is a subsidiary of Siemens AG), as a going concern on a slump sale basis, with effect from 1st October, … Read more
BSE has long been struggling against NSE, which has a dominant market share. In derivatives, BSE’s Average Daily Turnover (ADT) in FY 23 was Rs 1.38 trillion as against Rs 153.5 trillion of NSE i.e., 9% market share In cash market, BSE’s ADT during FY 23 was Rs 4,132 cr vs Rs 53,434 cr at … Read more