Airtel has informed that it will not be going ahead with the corporate restructuring plan it had announced in April 2021. What was the restructuring plan? Airtel categorises it’s business under four verticals – India, International, Digital and Infrastructure. The 1st two consist of it’s telecom operations. As per the restructuring plan, it wanted to … Read more
The Company has missed the last date for payment of Rs 3,494.56 crore to banks and others lenders. Key points to note – The last date for payment was December 31, 2021. The due date was as per the One Time Restructuring (OTR) plan approved by the lenders in April 2021 under an RBI announced … Read more
Mr Vishwavir Ahuja, the MD & CEO of RBL bank is stepping down. Though the technical term used is ‘going on leave’, for all practical purposes it’s innings over for him at the bank. Key point to note – Mr Ahuja has been leading RBL for more than a decade and is responsible for it’s … Read more
L&T Finance Holdings LTd (LTFH) in a bid towards consolidating towards core business and unlock value from the non core businesses, has decided to sell out the mutual fund business. It’ is selling the business to HSBC India. Key points to note – L&T Mutual Fund (LTMF) is operated as a 100% subsidiary of LTFH. … Read more
The paid amount relates to the deferred liabilities for the spectrum acquired in the 2014 auction. Key points to note – The company had acquired 128.4 MHz spectrum (including Telenor spectrum) for a consideration of Rs 19,051 crores in the 2014 auction, of which Rs 5,597 crore was given upfront. Balance amount was due in … Read more
As per newspaper reports, Vodafone Idea (VIL) mentioned the following in an internal investors’ call – Equity funding, including from promoters is set to be tied up by March 2022. Company is targeting an annual capex of about $2 bn, which is 4x of the current annual capex of $500 mn. Both these communications are … Read more
A board decision has been taken to look for the best possibilities and parallely a wholly owned subsidiary to be created to provide a ready vehicle for restructuring. Key points to note – Bajaj Electrical (BE) is present in two segments Consumer Products (CP) – appliances, fans, consumer lighting Engineering Procurement and Construction (EPC) – … Read more
The Company’s board approves to go for IPO of JK Files & Engineering Limited (JKFE). Key points to note – JKFE is into steel files and tools business. The proposed IPO is of Rs 800 crore and is entirely offer for sale. No fresh money is expected to come into the Company. Raymond currently owns … Read more
In line with the ongoing industry trends, JSW Energy too separates it’s Green (Renewables) from Grey (Thermal) business into a separate 100% owned subsidiary – JSW Energy Neo. Key Points to note: The Company targets to reach a power generation capacity of 20GW by 2030 compared with 4.5GW currently. Of the current capacity 30% is … Read more