Swiggy had to make a decision: It had made a strategic investment in Rapido three years ago, but the ride-sharing company was now eyeing its stronghold of food delivery. Finally, in July, Swiggy chose to sell the 12% Rapido stake that it had bought for $180 million in 2022. With this, Swiggy kills two birds … Read more
Standard Life has sold 5% of HDFC Asset Management Company (HAMC) for Rs 3,061 crore. Key points to note – Standard has been a relentless seller in both HAMC as well as HDFC Life Insurance Company (HLIC). In HLIC, it reduced it’s stake from 29.28% in September 2018 to 3.89% in June 2021, whereas in … Read more
Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate’s shares surged on reports that more suitors were planning offers. Toshiba Chairman Satoshi Tsunakawa will become chief executive, the company said in a statement. The statement gave no reason for the … Read more
London-based wealth management giant Capital International Group on Friday bought 4.6% stake from Max group’s founder Analjit Singh in Max Healthcare for around ₹515 crore. Two persons aware of the development confirmed this, adding that proceeds from the stake sale by Singh will primarily be used for paying off the debts that Singh owes in … Read more