Religare Enterprises, the financial services group promoted by Malvinder Singh and Shivinder Singh, was in advance talks with the Ajay Piramal group to buy a 60 per cent stake in the latter's private equity and fund management venture, Indiareit Fund Advisors, for Rs 175 crore, said an executive close to the development.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Piramal Fund Management has emerged as the largest lender to real estate developers at a time when the sector is facing severe slowdown.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
'Younger people are taking steps to prevent lifestyle diseases.'
'It is fascinating to partner with consumers on the journey of self-discovery and to help shape people's preferences -- that is what I find most exciting,' Nandini Piramal tells Abhineet Kumar and Aneesh Phadnis.
What has worked though for Brand Saridon has been its single-minded focus on headaches as opposed to other analgesics that dwell on a wider set of problems, reports Sohini Das.
Piraml will sell of its entire 11 per cent stake in Vodafone india.
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Lenders have postponed the second auction to sell bankrupt Reliance Capital's assets by a week to April 11, even as the Torrent group, the highest bidder in the first round, pursues litigation in the Supreme Court. Lenders are expecting the Hinduja group and Torrent to participate in the second auction and maximise the value of the assets. American financial services major, Oakteee may also join the race, said a source.
'And the top 10 per cent will grow because they have to serve the market.'
Pharma major Nicholas Piramal India Ltd will develop and commercialise a select group of US-based Eli Lilly and Company's pre-clinical drug products that span multiple therapeutic areas.
Two-day event saw participation of venture capitalists, private equity funds, angel investors, etc.
Hailing Narendra Modi's victory, India Inc hopes the incoming government would boost economic growth and create jobs.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
"But I am not talking about any competition -- about more than them, less than them," the RSS chief added quickly.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Prime property rates in South Mumbai at Rs 60,000 a sq ft remain high despite a slowing realty market.
The cash-rich Piramal Healthcare has closed its second deal in the past month to strengthen its pharma research and development business. The company has said it would acquire the US-based Decision Resources Group (DRG) for a consideration of nearly $635 million (Rs 3,400 crore).
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
In an unified effort, twelve I-League club owners and representatives have decided to launch the Indian Professional Football Clubs Association (IPFCA).
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Ashok Piramal Group company Peninsula Land has inked a property deal worth Rs 1,200 crore (Rs 12 billion) with Essar Realty Holdings, the realty arm of the Essar Group, to sell and lease premises at its upcoming IT park named Peninsula Technopark on LBS Marg in Kurla. The deal was signed recently, according to sources.
Real estate will prosper, small developers won't.
In May last year, Peninsula forayed into the hospitality sector with a joint venture with textile maker and real estate developer, Arrow Webtex. The JV planned to build hotels in Mumbai, Pune, Nagpur, Nasik and Kolhapur in Maharashtra. There were also plans to develop hotels in Ahmedabad, Surat, Jamnagar, Mundra port, Goa and Kerala.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
'There is not any negative connotation associated with it.'
Piramyd Retail, a part of the Ashok Piramal group, will launch a new branding strategy for its departmental store format, Piramyd Megastore, in a month's time.
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the order of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
Indiabulls Wholesale Services, the retail arm of Indiabulls Real Estate, has acquired Piramyd Retail, a company owned by the Ashok Piramal Group which runs 35 neighbourhood retail stores and seven lifestyle stores. Indiabulls Wholesale has acquired 63.92 per cent stake in Piramyd Retail at an enterprise value of around Rs 208 crore (Rs 2.08 billion), said sources close to the deal.
Piramyd Retail Ltd, a part of the Rs 3,000 crore (Rs 30 billion) Piramal Group, is planning a foray into retailing of its private labels of food and personal care products.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
Pyramid Retail Ltd, the Piramal group promoted retail chain, will add 12 more malls in lifestyle category and 60 more stores in food and grocery segment in northern and western region by 2008, with an investment of Rs 135 crore (Rs 1.35 billion).
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
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