Top ten billionaires in India.
Companies such as Karuturi Global have acquired land as cheap as Rs 59 a hectare.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
Hyundai Motor India Limited's (HMIL's) record Rs 27,870 crore initial public offering (IPO) may not have set the primary market alight with sky-high subscription levels, but it has spelled a windfall for the five investment banks steering the share sale. The Indian arm of the South Korean carmaker paid Rs 493 crore - 1.77 per cent of the issue size - in fees and commissions to the book running lead managers (BRLMs), marking the largest-ever payout for an IPO in the country.
With the addition of these two directors, the total Board strength of the company increases to 14 which include seven independent directors, including O P Bhatt, Tata Consultancy Services said.
'Cyrus was always very different. He would think before acting.'
Mistry is presently also the chairman of loss-making Forbes & Company Ltd listed on the Bombay Stock Exchange.
Indications are that the Tata Sons stand on listing of the company may come up for a discussion even if it's not part of the agenda
So far the tallest tower being built by Shapoorji Pallonji group in Mumbai is about 80-storied tall.
UK-based premium menswear brand The Savile Row's ambitious India plans might prompt its Indian partner Forbes Gokak to reconsider the Indian strategy for another premium menswear brand, Daks London.
The primary market will remain abuzz with more than half a dozen companies, including Hyundai Motor India, Swiggy, and NTPC Green Energy, lined up initial public offerings over the next two months to raise around Rs 60,000 crore, merchant bankers said. Apart from these three firms, Afcons Infrastructure, Waaree Energies, Niva Bupa Health Insurance, One Mobikwik Systems, and Garuda Construction are among the companies planning to launch initial public offerings (IPOs) during October-November, they added. Together, these firms are looking to raise Rs 60,000 crore through their IPOs.
He is followed by Nandan Nilekani and Narayan Murthy in Hurun India Philanthropy List
'If you are in a position to give employment to local people, you will find no terror attacks in your area.'
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Noel Tata -- the half-brother of late Rata Tata -- who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts -- broadly comprising Sir Ratan Tata Trust & Allied Trusts, and Sir Dorabji Tata Trust & Allied Trusts -- that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
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.
The billionaire Mistry family's estate is likely to soon change hands. The assets in the name of Cyrus Mistry, who died in September last year, may soon be divided equally among his wife Rohiqa and sons Firoz and Zahan, according to sources. The reorganisation will also include the 9.2 per cent stake in Tata Sons, which is currently in Cyrus Mistry's name and held through his investment company Cyrus Investments.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
A family priest performed the prayers as per Parsi tradition before the last rites.
Describing the Central Vista project as 'vital and essential', the Delhi high court on Monday allowed construction work on the project to continue and imposed a fine of Rs 1 lakh on the petitioners for their 'motivated' plea.
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
CPPIB is looking to partner with RMZ because the latter is aggressive on both new developments and acquisitions.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Other legal options include approaching the NCLT alleging mismanagement and oppression of minority shareholder
Mukesh Ambani continues to remain the richest man in India.
Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019. "Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.
Shapoorji, Kalpataru, Godrej pursuing Rs 60,000 crore opportunity in the region
Ratan Tata: A Life, the much awaited biography, reveals that after a year of 'parallel running', Tata began having second thoughts about Cyrus Mistry's 'suitability'. 'Mistry targeted Ratan, the man who had elevated him from virtual oblivion into the mainstream of the Tatas...'
The Central Public Works Department, a prime construction agency of the central government, said the bullet-proof window system of the selected bidder will be sent for testing at the forensic science lab in Gujarat's Gandhinagar.
The estimated project cost of the executive enclave which will house a new prime minister's office (PMO) has gone up by over Rs 100 crore to Rs 1,316 crore as the CPWD floated a fresh tender cancelling its earlier one, according to the agency's bid document.
Here are some features of the home.
Union minister Hardeep Singh Puri on Saturday said the construction of a new Parliament building and redevelopment of the Central Vista Avenue, stretching from Rashtrapati Bhavan to the India Gate, will be completed in a time-bound manner.
Oberoi Realty has hit the top slot in Mumbai's ranking of the top-20 developers in terms of sales in 2021, evicting the Runwal group which was number one last year. The Lodha group which had occupied the top slot three out of five times since 2017 slipped to second place in 2020 and continues to be in the same position in 2021. The Oberoi group was in fifth place in 2019 and fourth place in 2020. This is the first time that it has occupied the number one position. The Runwal group which took the top slot in 2020 is down to third place in 2021.
The company said, the water purifier is powered by space nano technology.
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