Delhi airport on Thursday formally ended its association with Turkish ground handling company Celebi Aviation for ground handling, cargo operations. The development came after aviation watchdog BCAS revoked the security clearance for Celebi Airport Services India Pvt Ltd in the “interest of national security”. Celebi Airport Services India Pvt Ltd and Celebi Delhi Cargo Terminal … Read more
In a major consolidation move in the Indian courier industry, Delhivery has announced acquisition of it’s rival Ecomm Express. The deal is all cash of Rs 1,407 cr for 99.4% stake It is a distress sale for the struggling Gurgaon-based company that cancelled its IPO last year amid declining business. After Ecomm Express filed it’s … Read more
Adani Infra, owned by a unit of Adani Enterprises, had in November 2024 said it would acquire 30.07% in PSP for Rs 685 cr i.e., an implied valuation of Rs 2,278 cr (Currently PSP has a mcap of Rs 2,550 cr). The stake will be acquired from the promopters, who currently own 60.14% in PSP. … Read more
Kalpataru Projects International has informed that it has successfully completed a Qualified Institutions Placement (QIP) of Rs 1,000 cr. This is Company’s first equity raise in over a decade. As per the Company, the capital raise attracted significant interest from domestic mutual funds, foreign investment funds, and insurance companies. Funds are expected to strengthen Kalpataru’s … Read more
The impacted Company is VA Tech Wabag. The order pertains to the proposed 300 mega liters per day seawater desalination plant in Yanbu, Kingdom of Saudi Arabia. VA Tech Wabag said the client notified tender participants this week that the said tender stands cancelled due to some internal administrative procedures. “We are currently in touch … Read more