Blackstone on Monday said funds managed by the private equity firm will acquire a majority stake in IT firm Mphasis Ltd, triggering an open offer for acquisition of up to 26 per cent stake for about Rs 8,262 crore. A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), UC Investments (Office of the Chief Investment Officer of The Regents, University of California) and others will co-invest along with Blackstone, a statement said. Based on the open offer subscription, the blended purchase price will vary between Rs 1,452 to Rs 1,497 per share (12-16 per cent premium to 12-month average price and 3-6 per cent discount to 6-month average price) and the purchase consideration will vary between Rs 15,200 crore to Rs 21,000 crore (approximately$2-2.8 billion), the statement said.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
When Nitin Gadkari took charge as Road Transport and Highways Minister in 2014, he had set a target of constructing 40 km a day in two years. But construction at this point is a mere 16 km a day. Megha Manchanda on what ails the road sector.
'When you start distributing wealth, you end up distributing poverty.'
Joe Biden's B3W proposal aims to bring democracies together. India should come up with its own plans to contribute to the initiative, states Rahul Mishra.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
The Haryana State Employment of Local Candidates Bill, 2020 provides the quota for local people in private sector jobs that offer a salary of less than Rs 50,000 a month.
Experts are upbeat about developing smart cities in India.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Govt must take few steps to improve business environment.
The Budget provides a reassuring message about Prime Minister Narendra Modi staying the course.
According to a confidential government paper seen by Reuters, several states want to do away with obtaining landowners' consent altogether in some cases and to cut through red tape which they say holds up development.
The IIM-B's 'Karnataka innovation report' has become the basis for the Congress party's election narrative, particularly to distinguish it from the 'Gujarat model of development', reports Archis Mohan.
Tirole's insights show how real-world incentives are complicated, and contracts can be difficult to write and enforce.
'Imagine taking care of a patient who is infected with Covid. A human nurse is unable to do that due to fear of infection. The robot can do that task, while it is controlled or supervised by the human nurse. So the robot becomes an extension of the nurse.'
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
CAG may not be the cure-all for the ills that afflict PPP projects and is perhaps a sub-optimal solution to the problem.
'Everybody says 5G and communication is important.' 'Everybody says automation, robotics, human computing interfaces -- people and machines working together -- is the future.' 'Everybody agrees that cybersecurity is something that is here to stay.' 'Everybody agrees that synthetic biology is important.' 'Instead of outlining thinking about industries for tomorrow and the future, let the evolutionary pathway be built in a way that it promotes robust, creative, thinking.'
As Indians eagerly wait to see a makeover, here's a look at trains and stations of world's fourth largest railway network.
Fifteen months after taking power, Modi's credibility as an economic manager is on the line.
To fly 10 start-ups to San Francisco HQ of the company
India will soon get a Bullet train between Mumbai-Ahmedabad!
'Success will require political skill, not just economic expertise'
The corridor is expected to attract around Rs 1,250 billion investment and create 4,00,000 jobs. It will start from Mysore, pass through Bengaluru in Karnataka, to connect with Chennai, Coimbatore, Salem and Tiruchy in Tamil Nadu.
Details were not immediately available ahead of a planned government briefing.
The first phase of the programme will kick off with vaccinations in Hyderabad on Monday and in Visakhapatnam on Tuesday (May 18) at Apollo facilities.
Surendra Hiranandani -- chairman and managing director, House of Hiranandani -- explains what ails India's housing sector and indicates the way forward.
With buyers playing safe, projects such as Delhi-Gurgaon Expressway find it difficult to get new concessionaires
Only 2.3% of the Indian workforce has undergone formal skill training, as compared to 68% in UK and 52% in the US
Boeing is likely to vie for the deal to supply 110 fighter jets to the IAF in one of the biggest such procurement in recent years globally which could be worth over USD 15 billion.
Compared to a 64 per cent penetration in Brazil (130 million users total) and 53 per cent in China (total 733 million users), India has barely 28 per cent penetration. Of the digital reach, almost 80 per cent are from affluent segments in urban areas. How can this change?
Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600-crore initial public offering (IPO) with the Securities and Exchange Board of India.
The path-breaking Land Acquisition Bill, which seeks to provide just and fair compensation to farmers while ensuring that no land can be acquired forcibly, was passed by the Lok Sabha with overwhelming majority on Thursday.
One solution to India's challenges of education, employment, employability lies in state governments adopting apprenticeships on a large scale.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
The NHAI says non-availability of funds from private developers and financial institutions is also responsible for major delays.
Critics who cannot stop gloating, pronouncing Modi to be a lame-duck prime minister, may be making a huge mistake, predicts Virendra Kapoor.
YIM has been instrumental in more than 90 young Indian scientists going back to India.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
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