The Central Bureau of Investigation has arrested Delhi lawyer Gautam Khaitan in the case of alleged commission paid by Brazilian aircraft manufacturer Embraer to a UK-based NRI middleman to swing a three-aircraft deal with DRDO worth $210 million in its favour in 2008, officials said on Thursday.
Reliance Infrastructure Ltd on Wednesday said its shareholders have approved raising funds up to Rs 550.56 crore through issuance of shares on a preferential basis. The funds raised would be utilised for long-term resources, for general corporate purposes and to fund future growth, the company said in a regulatory filing.
The Competition Commission of India has ordered a probe into complaints against Google for allegedly abusing its dominant position in the online news market.
In the first such collaboration for India, the country's flagship payments platform, the Unified Payments Interface (UPI), and Singapore's PayNow payment system have launched a real-time cross-border payment linkage system. The linkage, which was launched by Prime Minister (PM) Narendra Modi and Singapore's PM Lee Hsien Loong on Tuesday, was kicked off by a live cross-border transaction between Reserve Bank of India Governor Shaktikanta Das and Monetary Authority of Singapore managing director Ravi Menon, using mobile phones.
The three companies have been issued observations by the watchdog, according to the update on the processing status of draft offer documents as on October 8. An observation letter is mandatory for an initial share sale. In Sebi parlance, the issuance of observations implies its go-ahead for the IPO. One Mobikwik Systems Ltd is a leading mobile wallet (MobiKwik Wallet) and Buy Now Pay Later (BNPL) player in India.
Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the deadline for submission of bids, which had ended on August 20, as several players, including public sector companies, were redrawing their acquisition plans, said people in the know. "There were several companies which had submitted their expressions of interest (EoIs) for the company but after due diligence decided to exit the race," said a source close to the development. "The new deadline for submitting financial offers is August-end," the source said.
Wipro has entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned subsidiary of OKI Electric Industry Co Ltd.
Investors seem to have fully savoured the Burger King India IPO, with the share sale getting subscribed a massive 156.65 times on the last day of the offer on Friday.
NatSteel Asia Pte Ltd (NSA), the Singapore-based subsidiary of Tata Steel, said on Thursday it has acquired two new steel-bar rolling plants in Vietnam for $41 million as part of strategy to expand in the Asia-Pacific.
Hospitality firm OYO is looking to raise $600 million (over Rs 4,380 crore) in debt from the US institutional investors to service its existing loans, sources in know of the matter said on Thursday. The company is raising $600 million in a term loan B (TLB) structure, the sources said. The company is taking the TLB to service its existing loans which are on higher interest rates, they added.
The Reserve Bank of India's action against Reliance Capital comes at a time when the Anil Ambani group was planning to make a comeback with the group company, Reliance Infrastructure, raising funds from the promoter family. As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family. A month earlier, Reliance Power, a listed subsidiary of Reliance Infrastructure, also raised funds from its parent by issuing preferential allotment of shares thus increasing the stake of Reliance Infrastructure in the company.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
Setting aside Sebi's direction, the Securities Appellate Tribunal (SAT) on Monday allowed PNB Housing Finance to go ahead with the shareholders' meeting on Tuesday to consider the proposed Rs 4,000 crore-investment by private equity firm Carlyle and others in the mortgage firm. However, results of the shareholders' voting will not be disclosed till further directions from the tribunal. The ruling comes hours after PNB Housing Finance informed stock exchanges that it has appealed against Sebi's direction on June 18 wherein it was asked to defer consideration of the proposed capital infusion proposal till a valuation of the company's shares is done by a registered independent valuer.
The IPO will be sometime in the first half of next year.
Seven companies, including lifestyle retail brand FabIndia and specialty chemical company Aether Industries, have received capital markets regulator Sebi's go-ahead to raise funds through initial share sales. Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies India and Harsha Engineers International too received the watchdog's nod to float Initial Public Offerings (IPOs). These companies, which filed their preliminary IPO papers with Sebi during December 2021 and February 2022, obtained observations during April 27-30, an update with the regulator showed on Monday.
Singapore's Fullerton Fund pumps more into China, cuts exposure in India
Kolkata-based business tycoon Sanjiv Goenka's RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore, while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer.
The Singapore Formula One Grand Prix has been cancelled for the second year in a row due to the COVID-19 pandemic.
Singapore-based investment and business consultancy expects 50-60 Indian firms setting up operations in China.
All current staff of BPCM is expected to transfer to the new owners under equivalent terms and conditions.
John Fearon, CEO of Dropmysite Pte Ltd reflects upon the success of Walmart over the years and tells us what worked for it that did not for its competitors.
The company is increasing its exposure to key emerging markets.
Given the strong prospects in the business, analysts expect the company to clock healthy growth of 15-20 per cent, going ahead.
Non-resident Indians are investing in well-established small and medium enterprises in India
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
Fortis International has made seven acquisitions in 10 markets.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
GTL Ltd plans to buy Redington Group comprising Redington India Ltd, Redington Pte Ltd Singapore and Redington Gulf FZE for $95 million in cash and shares.
Pune-based Bilcare Ltd, through its wholly owned subsidiary Bilcare Singapore Pte Ltd, has acquired US-based pharma research and clinical services business for an undisclosed amount.
Packaging major Essel Propack Ltd has entered into a share purchase agreement for acquiring 85 per cent stake in US-based Tacpro Inc and Avalon Medical Services Pte Ltd, Singapore.\n
The Grand Prix is scheduled for September 28 on public roads around the downtown Marina Bay area, making it Formula One's first street race in Asia.
Bharti Airtel (Singapore) Pte Ltd, a subsidiary of Bharti Airtel, said on Monday it has been awarded the facility-based operator licence in Singapore, which will enable it to operate international carrier facilities from there.
The Union Cabinet on Thursday allowed Non-Resident Indian steel baron Lakshmi N Mittal to pick up 49 per cent stake in state-run Hindustan Petroleum Corp's Bhatinda refinery.
Aditya K Poddar, chairman of Wellside International Pte Ltd, handed over a cheque for $100,000 to India's Acting High Commissioner Asoke Mukherji at India House in London.
Reliance Industries along with US oil major Chevron on Wednesday announced signing of an agreement for purchase of 5 per cent equity of Reliance Petroleum Ltd for $300 million
Leading integrated media and entertainment company UTV Software Communications Ltd has decided to divest its entire stake in United Home Entertainment Ltd to the Walt Disney Company
"Considering its geographical location, India, especially Delhi, has the potential to become a gobal hub for air cargo," Singapore Airlines Cargo Pte Ltd president Hwang Teng Aun said.
The net proceeds of the fund raising will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purpose.
The acquisition of Executive Access (India) Pte Ltd would provide Hat Pin access to a large talent pool and complementary opportunities across its three existing brands, it said in a filing to the London Stock Exchnage.
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