Months after picking up 24.21 per cent stake in private sector lender Yes Bank, Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India's (RBI's) in-principle approval for setting up a wholly owned subsidiary (WOS) in India.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
The country's largest lender State Bank of India on Wednesday announced the completion of the divestment of about 13.18 per cent stake in Yes Bank to Sumitomo Mitsui Banking Corporation of Japan for Rs 8,888.97 crore. State Bank of India (SBI) has received Rs 8,888.97 crore from the acquirer Sumitomo Mitsui Banking Corporation (SMBC), a Japanese multinational financial services company belonging to the Sumitomo Mitsui Financial Group (SMFG), the bank said in a regulatory filing.
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
With its fleet of nearly 1,000 electric three-wheelers in Delhi-NCR, it moves around 100,000 commuters daily. The company will use the funding to rapidly increase its fleet size within Delhi-NCR as well as other key cities around the country.
APAs are part of govt's aim to move to a non-adversarial tax regime.
The stock of Apollo Hospitals Enterprise (AHEL), India's largest listed health care services company, fell 4.6 per cent on Monday (April 29) and slipped another 0.34 per cent to close at Rs 5,946.20 on Tuesday (April 30). The share declined due to a lower valuation for subsidiary Apollo HealthCo (AHL) and an aggressive valuation for Keimed, a promoter-owned drug wholesaler that is merging with AHL.
Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company's funding pool to $3 billion since initial project financing in March 2021, AGEL said in a statement. According to the statement, AGEL, India's largest and world's leading renewable energy player, announced a follow-on funding of $1.36 billion to further boost its construction financing framework to $3 billion backed by a consortium of renowned international banks.
Indian officials will focus on expanding the country's footprint in oil-rich Siberia when they meet their Russian counterparts at the four-day 7th Eastern Economic Forum beginning Monday in Vladivostok. The two sides will discuss the possibility of joint oil exploration in the area and cooperation in running offshore oil and gas fields Western companies are in the process of exiting, officials said in New Delhi. Pavan Kapoor, India's ambassador to Russia, will lead the official-level talks at the summit scheduled September 5-8.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Nikkei is one of the largest media houses in Japan.
Japan's Sumitomo Mitsui Banking Corporation on Wednesday announced that it would invest Rs 1,366 crore (Rs 13.66 billion) for a 4.5 per cent stake in private sector lender Kotak Mahindra Bank.
The Securities and Exchange Board of India on Tuesday approved the open offer of Vedanta Resources for Sesa Goa.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
UN spokesperson Michele Montas has said she no new information about reassessment of UN contracts with Satyam, now under investigation by Indian authorities for fraud. The UN, however, did not assign any reason for the action against the Indian IT company, which is smarting from the shock of a Rs 7,800 crore (Rs 78 billion) accounting fraud engineered by its founder Ramalinga Raju.
At the moment Concor, a public sector company controlled by the railways, has a monopoly in running container trains across the country. It offers ferrying rates to carry containers that are one-third of that on roads.
Indian businessmen on the forum would also include Baba Kalyani of Bharat Forge, Sunil Kant Munjal of Hero Honda, Nandan Nilekani of Infosys, Vikram Kirloskar of Toyota Kirloskar and Deepak Parekh of HDFC.
The oil and gas major ONGC is likely to offload 34 per cent equity in its special purpose vehicle ONGC Petro-additions formed for the upcoming Rs 13,500-crore
LN Mittal, who is a frontrunner for acquiring a 51 per cent stake in Sesa Goa from Mitsui and has announced plans for projects in Jharkhand and Orissa worth Rs 40,000 crore each, is planning a $2 billion (Rs 8,600 crore) foundation.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Vedanta Resources has delayed its offer to buy a further 20% stake in iron-ore mining company Sesa Goa.
NRI business tycoon Anil Agarwal-led Vedanta Resources will pay $1.37 billion (about Rs 5,700 crore) for acquiring 71 per cent stake in India's biggest iron ore exporter Sesa Goa.
The government on Saturday gave its approval to Shipping Corporation of India's plan to invest $20.88 million for 33.77 per cent stake in a joint venture company to be set up in Panama.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
The 30-share Sensex ended up 33 points at 27,241.78 and the 50-share Nifty ended up 27 points at 8,200.70.
Jeev Milkha Singh, the other Indian in the fray at the VISA Taiheiyo Masters in Japan, was tied 66th.
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
The 12-year loan will part finance the proposed expansion of RIL's petrochemical plants and setting up of new gasification unit and refinery off-gas cracker over the next 2-3 years.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances