Official sources said the proposal of Essar, which was seeking to increase its equity held through foreign subsidiaries by 6.26 per cent to 22.04 per cent has been approved.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
The Petroleum Trust, one of the promoter entity in RIL, sold 1,50,00,000 equity shares of the company at an average price of about Rs 2,125 per share, Reliance Industries said in a filing to the Bombay Stock Exchange.
As a new initiative for promoting highway development, the mode of engineering procurement and construction contracts is being brought in, it said.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
A preliminary deal for sale of 49 per cent in Essar Oil to Rosneft was signed between the companies in July 2015.
Rakesh Jhunjhunwala sounded another note of caution on the nature of the latest bull run.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
Sectors that attracted maximum FDI include services, trading, automobile and power.
Promoters Narendra Patni and his younger brothers Gajendra and Ashok hold equal stakes totalling 48.3 per cent in India's sixth largest software exporter.
The stressed asset business will be a mix of an ARC and a distressed asset fund. Ambit has already started insurance brokerage and equity research and sales businesses this year. It closed a $100-million private equity fund called Ambit Pragma Ventures recently. It is also keen on starting proprietary trading.
To expand its services in the five-player private direct-to-home market, Reliance Big TV Ltd, the promoter of Big TV DTH services of the Reliance ADA Group, plans to sell up to 49 per cent to foreign private equity companies and global DTH players.
DoT's proposal to impact many, including Vodafone
'Now we will have real employees as the owner of the airline.'
The COVID-19 pandemic has not only affected outpatient services, but also led to deferment of elective surgeries, and resulted in the loss of medical tourism, all of which would hit the FY21 financials.
The RBI will display names of applicants on its website.
Currently, FDI up to 26 per cent is permitted through automatic approval route.
Rs 40 crore already deployed in a residential project in Chennai.
'I hope that the incoming Biden-Harris Administration works with India to address some of the most profound geopolitical transboundary challenges.'
The United Progressive Alliance government has rejected Janata Party chief Subramanian Swamy's allegations against Home Minister P Chidambaram in the Aircel-Maxis equity issue saying they were "totally baseless".
Justifying the coming together of the two airlines, which account for about 60 per cent of the market share, Goyal said that the break-even point for the aviation sector is at 90 per cent capacity utilisation whereas, "We are now operating between 60-70 per cent." Goyal said, "On top of all this, international airlines are dumping capacity in India, lowering their prices knowing we cannot match the competition.... therefore, we have to work together."
According to a notification issued today by the Securities & Exchange Board of India, the disclosure diktat will apply to all cases where promoters have pledged over 25,000 shares or more than 1 per cent of the equity of their companies. The market regulator amended the Sebi (Substantial Acquisition of Shares and Takeover) Regulations 1997 to include the recent guidelines regarding the pledging of shares.
18.6 million debentures were issued to five promoters convertible at Rs 160.
mjunction services, one of the largest e-commerce companies promoted by Steel Authority of India and Tata Steel, has shelved its initial public offering plan after Tata Steel indicated it would back the management team for its future expansion plans.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Move to impact joint ventures in telecom, insurance, broadcasting.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
The decision to withdraw from participating in the special purpose vehicle, being promoted by the Matyas Group, was taken by the MMTC board. MMTC was in the process of receiving shareholders' approval for investing Rs 85.85 crore and picking up up to a five per cent stake in the Maytas Group's SPV for the SEZ.
This transaction was done by Premji's personal investment entity Zash Investments Limited. The stake was bought from ICICI Ventures, a private equity arm of ICICI Bank, sources said. Subhikha Managing Director R Subramanian was not available for comment.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
Before committing your precious money in PE funds, investors need to get very choosy, advises Ramesh Bukka, co-founder and director, Entrust Family Office Investment Advisors.
The two parties have been in talks for a month and a half.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
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