We have to ensure that mergers do not substantially reduce competition and consumer choice, says Indian Finance Minister P Chidambaram.
Finance Minister Arun Jaitley will take a final call on whether to break the tradition of presenting a separate Rail Budget, by merging it with the General Budget.
Roger Federer called on Wednesday for a merger between the men's ATP Tour and the WTA, which runs the women's circuit, as tennis wades through a lengthy coronavirus shutdown with lower-level professionals in deep financial crisis. The tennis season was suspended in March due to the COVID-19 pandemic and the hiatus will continue at least until mid-July, depriving lower-level players, who depend solely on tournament winnings, of the chance to earn a living.
'The government has put in a lot of effort to provide infrastructure for the industry.'
The merger between the RIL and RPL would enhance value for shareholders of both the companies, RIL Chairman Mukesh Ambani said in Mumbai on Monday.
Beleaguered retail chain Subhiksha on Friday said Kotak Mahindra Bank, which had lent Rs 40 crore (Rs 400 million) to it, on Friday objected to merger of the company with city-based Blue Green Constructions and Investments Ltd.
Country's biggest lender State Bank of India had proposed merger of five associate banks.
Shareholders of Mukesh Ambani-led Reliance Industries met in Mumbai on Saturday in an extra-ordinary general meeting to vote on the merger of its subsidiary Reliance Petroleum with the company.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
The government has approved the merger of fuel retailer IBP Co Ltd with IOC in an amalgamation that would provide the state-run refiner improve profits and allow the new entity to compete against private firms and multinationals.
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
While boards of both the banks had approved the merger plan, bank employees went on one-day strike protesting the move.
With high credit growth and healthy asset quality, listed commercial banks are expected to report steady growth in earnings during the fourth quarter ended March 2024 (Q4 FY24). Profits are expected to grow at 9.6 per cent year-on-year (Y-o-Y) and net interest income (NII) by 8.7 per cent in Q4 FY24, according to Bloomberg analysts' estimates. According to Motilal Oswal Securities, while bank credit growth has been robust, deposit growth has also gathered pace.
Lanco Industries Ltd approved the merger of the company with Lanco Kalahasthi Castings Ltd. Ernst & Young Private Ltd has been commissioned to recommend the swap ratio.
Could address the concerns over Companies Act provision on the issue
The Congress believes the Telangana Rashtra Samithi will decide in favour of a merger as the decision on statehood has deprived the regional party of its chief electoral plank and an issue that defined its identity. Anita Katyal reports
Raghu Menon, CMD of National Aviation Company of India (Nacil), had said last year that more than 70 per cent of the merger process would be completed by the end of FY09.
In a major setback, the much-anticipated merger process between Hockey India and Indian Hockey Federation fell apart, thereby plunging the fate of the national game into deep uncertainty.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
While Airtel may be pushed to to No 3, Jio will find it mighty difficult to beat the new entity.
The telecom ministry will decide on the merger between the state-owned telecom companies, Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, only after the listing of the former.
Party sources indicated that there were "some ticklish issues" that were to be addressed by both groups, but declined to elaborate further.
'The government has put in a lot of effort to provide infrastructure for the industry.'
Hindalco Industries Ltd okays merger of Indo Gulf Corporation Ltds copper business with the company.
TDSAT had stated no amount was payable till resolution of the disputes.
The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
Merged entity to be named Kingfisher Airlines.
Kingfisher and Deccan swap of shares will be finalised by April, upon Sebi's approval.
Private equity (PE) investments in India have fallen to a 6-year low at $24.2 billion in the financial year ending March 2024. Investments via PE deals are down 47 per cent compared to FY23, when private equity deals worth $45.8 billion were signed. According to data sourced from Bloomberg, PE firms had signed record deals worth $80 billion in the financial year ending March 2022.
The ruling Nationalist Congress Party in Maharashtra clarified on Sunday that it had received no proposal from the Congress for a merger nor did it have any such plan in the run-up to the election to the 288-member state assembly slated for September-October.
