The mergers will not involve any cash but only share swaps
RCP Singh alleged that Kumar "had made up his mind to betray the mandate of 2020 when people had voted the NDA back to power."
The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
All shares held by SBI in the five associate banks will stand cancelled after merger.
The two companies were earlier expecting to complete the merger formalities and regulatory approvals by June 30 and to start operating as one entity from July 1.
While Vodafone will hold 45.1% of the shares in the new entity, to be renamed at a later stage, Kumar Mangalam Birla and other promoters of Idea group will hold 26%. Vodafone India will also transfer 4.9% of its shareholding to Idea's promoters for a cash consideration of Rs 38.74 lakh crores.
SBI might present the first result for the combined entity at the end of the first quarter of 2017-18
The Competition Commission of India (CCI) has flagged possible anti-competitive concerns with respect to the proposed USD 8.5-billion Viacom18-Star India merger and has sought detailed responses from the parties concerned, sources said.
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Edtech firm Unacademy has laid off 250 people across verticals, according to people familiar with the matter, reducing its employee strength by 50 per cent from what it was two years ago. Of those, 100 are from core functions such as marketing, business, and product, while the rest are from sales.
'PM Modi would have swept the elections in Kashmir after notebandi but then he scrapped Article 370 so all his good work went down the drain.'
Almost a year after announcing a $4 billion deal, Sun Pharmaceutical Industries on Tuesday said merger of Ranbaxy with itself has been 'consummated.'
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
Both OPS and EPS say positive results are expected soon.
'We are in a position to start due diligence and private data room access shortly.'
Both sports and digital will drag down the healthy operating margins that entertainment television continues to make.
Here's how the move will affect the banks' customers.
The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
The value of private equity (PE)-backed mergers and acquisitions (M&As) in India reached a six-year low during the first seven months of the current calendar year, amid ongoing global uncertainties. The total value of these deals stood at $6.2 billion during the period, down from $9 billion in the same period last year, and lower than the $14 billion recorded during the corresponding period in 2019, according to data from LSEG Deals Intelligence. PE funds pool capital from investors, including high-net-worth individuals, to invest in high-return opportunities.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
On August 17, the top court had deferred the hearing on Dilawar's plea after it was informed that the Chief Justice of the high court has reportedly tested positive for COVID-19 and the functioning was postponed till August 19.
The merger will result in substantial cost and capex synergies with an estimated net present value of around USD 10 billion after integration costs and spectrum liberalisation payments, with estimated savings of USD 2.1 billion annually from the fourth year of the merger.
De-centralised execution should drive the operational concept and support military strategy, under a unified command architecture. Enablers and technology need to be positioned first for such an activity to be undertaken, recommends Lieutenant General Anil Chait (retd).
Employee integration and branch rationalisation are major challenges.
The fee pocketed by investment banks for handling equity share sales stood at $244 million during the first half of calendar year 2024. This was the highest first half figure since 2007, according to LSEG Data & Analytics, a provider of financial markets data. Capital mobilised via equity capital market (ECM) activity jumped 2.5 times to $29.5 billion - the highest-ever semi-annual total in terms of proceeds.
The recent move by a group of eight Congress MLAs in Goa to merge with the ruling Bharatiya Janata Party was as per constitutional norms, state assembly speaker Ramesh Tawadkar said.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Quick commerce major Zepto has raised $340 million in a follow-on financing round at a valuation of $5 billion as it gears up for an initial public offering (IPO). This is Zepto's third big-ticket fundraise within a year. With this, the company has raised more than $1 billion in 12 months.
Analysts say mergers by India's airlines have not been successful so far because of their objectives: it's to either kill competition or acquire flying rights to fly international.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
This merger, Bhupesh Bhandari believes, will be watched keenly by management gurus the world over.
FTIL prepares to challenge the order in the Bombay high court
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
A decision on the merger will take some time as there are procedural problems with MTNL being a listed entity and BSNL non-listed.
These funds at times invest in companies going through corporate restructuring, such as mergers, demergers, or buybacks.
After hearing, the high court dismissed the petition as the Speaker had passed the order on BJP MLA's complaint to disqualify the BSP legislators.
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
AIADMK-Amma led by Palaniswami accused the O Panneerselvam faction of "refusing" to come for talks.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
