Tata Sons Pvt. Ltd, the holding company of the software-to-steel conglomerate, has signed a pact with Malaysian budget carrier AirAsia Group Bhd to increase its stake in their India joint venture. AirAsia has agreed to sell a 32.67% stake in the joint venture for $37.66 million (about Rs 276.7 crore at current exchange rates). The Malaysia airline previously owned 49% of AirAsia (India) Ltd while Tata Sons controlled 51%. AirAsia will also have an option to divest its remaining 16.33%
Category: Corporate Finance
S&P Global to snap up IHS Markit in biggest M&A of 2020: November 2020 Financial News
Data giant S&P Global Inc has agreed to buy IHS Markit Ltd in a deal worth $44 billion, creating a heavyweight in the increasingly competitive market in financial information. The mega deal, which includes $4.8 billion of debt. Deals touched a record high in the September quarter, with more than $1 trillion worth of transactions, mostly focused on coronavirus-resilient sectors such as technology and healthcare. S&P Global shareholders will own roughly 67.75% of the combined company on a fully diluted
Abu Dhabi’s Mubadala to invest $853 mn in RIL’s retail unit: October 2020 Financial News
Mubadala Investment Company will invest Rs 6,247.5 crore ($853 million) in Reliance Retail Ventures Ltd, making the Abu Dhabi sovereign wealth fund the fourth investor in the unit. This investment will translate into a 1.4% stake in Reliance Retail Ventures on a fully diluted basis. The investment values Reliance Retail at a pre-money equity valuation of Rs 4.285 trillion. Here are some latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity Blackstone earnings jump on
Indiabulls Real Estate to Merge with Embassy Group’s Units: September 2020 Financial News
Indiabulls India Estate and two subsidiaries of the Embassy Group have entered into an agreement to merge their residential and commercial projects. This shall become one of the India’s leading real estate development platforms, with 80.8 Million sq. ft. launched and planned development potential. Here are the latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity Agri-business firm DCM Shriram raising debt capital again for expansion: DCM Shriram Ltd, diversified manufacturing company that makes products
Electronic Commission – On the way: August 2020 Financial News
The Government recently announced an Rs 40,000 Crore Production-Linked Incentive Scheme for electronics. It is working upon setting up an Electronics Commission to push electronics’ manufacturing and reducing its import dependence on China. Here is some latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity PAG to buy 51% stake in Edelweiss Wealth Management: Hong Kong private equity firm PAG has struck its second India related transactions as it inked an agreement to pick up
JSW Group to stop Imports from China in 2 Years: July 2020 financial news
Joining the “Boycott China” chorus, JSW Group, which has a net import of $400 million annually (majorly ‘clinker’, a form of cement) from china decides to bring it down to zero in the next 24 months. Here are some latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity BP invests $70 mn in Everstone-Lightsource’s green energy fund: BP Plc has invested $70 million (Rs 524 crore) in a green energy fund managed by EverSource Capital.
After Mubadala, Sovereign fund ADIA bets $752 Mn on Reliance’s JIO platforms: June 2020 financial news
Abu Dhabi Investment Authority (ADIA), which invests money globally on behalf of UAE’s emirate, which invest money globally on behalf of UAE’s emirate is investing Rs 5,683.5 Cr ($752 million) in Jio Platforms. ADIA’s investment will translate into a 1.16% stake in Jio Platforms. Together, ADIA and Mubadala will own 3.01% stake in Jio. Here is some latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity Brookfield inks deal to acquire Emami Group’s solar energy
Mubadala to invest in Jio Platforms: May 2020 financial news
Jio Platforms has raised Rs 78,562 Cr from leading technology investors within a month. Reliance industries Ltd (RIL) is now considering an overseas listing of Jio platforms. The enterprise value of Jio Platforms has reached Rs 5.15 Tn, within 6 months. RIL is also approaching the Indian capital market to raise Rs 53,000 Cr via its first right issue in three decades. Here is some latest financial news of private equity, venture capital and mergers & acquisitions: Private Equity: Abu
Relaxation introduced by MCA in May 2020
In view of the situation emerging out of the outbreak of COVID-19, which requires adherence of social distancing norms, the stakeholders have pointed about various difficulties MCA after considering this fact granted certain relaxation few of them are briefed as under. Clarification on holding of annual general meeting (AGM) through video conferencing (VC) or other audio visual means (OAVM) Further clarification on holding of annual general meeting through video conferencing or other audio visual means as follow http://www.mca.gov.in/Ministry/pdf/Circular20_05052020.pdf [Source: MCA
The Great Indian Policy Conundrum
India entered COVID-19 crisis with limited fiscal space, having breached the previous budget deficit target of 3.3% and raising 0.5%. with a dwindling fiscal outlook, any further fiscal easing will put pressure on india’s sovereign rating. Governments dedicate more than $8 tn to fight COVID_19 pandemic. India’s lockdown measures seem to be at par with developed countries. But while they are firing fiscal bazookas to stimulate the economy. India’s fiscal packages seem to be more like water pistols- reaching barely