The company has identified Global Technical Systems, a US based surveillance technology developer, as a collaborative partners in India.
Ajay Piramal bets highly on infrastructure, realty
Piramal owns an 11 per cent stake in Vodafone India.
Piramal Enterprises (PEL) on Wednesday said it has completed the acquisition of Dewan Housing Finance (DHFL) by paying Rs 34,250 crore to creditors of the housing finance company. The company said the creditors of DHFL, including fixed deposit (FD) holders, would recover an aggregate amount of Rs 38,000 crore from the resolution process of DHFL. The amount comprises approximately Rs 34,250 crore to be paid by Piramal Capital and Housing Finance Ltd (PCHFL) as a combination of cash and NCDs, and an amount of approximately Rs 3,800 crore which is the entitlement of creditors as per the resolution plan from the cash balance available with DHFL, the company said.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
The Piramals have said in a media statement that reports suggesting that the Piramal family is heading for a split are 'completely wrong and baseless.'
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
Canada Pension Plan Investment Board has stringent processes and systems, which are proving to be a stumbling block
Piramal is pragmatic when he says he's equally clear the conglomerate approach may not be beneficial in the long run. "It's not that we are married to the idea of having everything together permanently."
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Glitz, glamour and lots of joy marked the celebration.
Two-day event saw participation of venture capitalists, private equity funds, angel investors, etc.
Piramal Fund Management has emerged as the largest lender to real estate developers at a time when the sector is facing severe slowdown.
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
'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.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
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.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
Hailing Narendra Modi's victory, India Inc hopes the incoming government would boost economic growth and create jobs.
Billionaire Mukesh Ambani on Monday introduced daughter Isha as leader of his conglomerate's retail business as he details succession planning at India's most valuable firm. Ambani had previously named son Akash as chairman of the group's telecom arm, Reliance Jio. At Reliance Industries Ltd's 45th annual shareholders meeting, Ambani introduced Isha as leader of retail business as he invited her to speak on integrating WhatsApp with the retail business.
Prime property rates in South Mumbai at Rs 60,000 a sq ft remain high despite a slowing realty market.
'But we are much better than what we all had expected and planned, and what all the prophets of doom had predicted.'
'And the top 10 per cent will grow because they have to serve the market.'
Real estate will prosper, small developers won't.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Tata Sons chairman Natarajan Chandrasekaran was paid Rs. 113 crore as remuneration for 2022-23 (FY23), including Rs. 100 crore as commission on profit. Chandrasekaran, 60, often referred to as Chandra, received a remuneration of Rs. 109 crore in 2021-22 (FY22). With this, Chandra has emerged as one of the highest-paid chief executive officers (CEO) in Corporate India for FY23.
CPPIB is looking to partner with RMZ because the latter is aggressive on both new developments and acquisitions.
Tatas, Ambanis, Adanis, Birlas contributed an average of Rs 800 crore to Rs 1,000 crore per family group.
The Lodha Group has bought land parcels worth Rs 12,000 crore in Mumbai
"But I am not talking about any competition -- about more than them, less than them," the RSS chief added quickly.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
Tata Sons shareholders have approved a resolution to have separate chairpersons for the company and its largest shareholder -- Tata Trusts. An amendment to the articles of association (AoA) of Tata Sons, which sought to prevent a single person heading Tata Sons as well as Tata Trusts simultaneously, was passed at the company's annual general meeting (AGM) held on Tuesday. With the special resolution being passed with requisite majority of 75 per cent at the AGM, it will now be legally binding for Tata Sons and Tata Trusts to have separate chairpersons.
'One of the ways to do that is to ensure that NBFCs have got liquidity.' 'If we don't do that, this mood of gloom will continue.' NBFCs need to be provided with liquidity if they have to start lending.
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