Reason for rejection hasn't been stated; deal among seven rejected transactions.
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.
Defence major Boeing on Monday proposed greater business engagement with India, as Prime Minister Narendra Modi promised the US companies to provide friendlier business environment in the country.
The 3G, 4G data and Airtel Money services are the next growth engines for the company in Africa.
The CEOs round table is expected to be attended by Apple chief Tim Cook, Walmart head Doug McMillon, Caterpillar's Jim Umpleby, Google head Sundar Pichai and Microsoft's Satya Nadella.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
Most of the hotels in the country, including the Indian ones that traditionally owned assets, have embarked upon an asset light model for a faster growth and quicker returns. Lemon Tree is likely to announce a deal with Keys Hotels in the next two weeks.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Juster, 62, is an old India hand who played a key role in the landmark Indo-US civil nuclear deal.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
Reliance Capital, the financial services arm of Anil Ambani-led Reliance Group, has also listed several other concerns with regard to MXC deal.
Chairing an exclusive roundtable with 42 global CEOs and top executives from across 20 sectors, Modi stressed on continued political stability in India, predictability of policy, and pro-development and pro-growth policies.
American CEOs expected to meet Modi on Sunday include Apple's Tim Cook, Walmart's Doug McMillon, Caterpillar's Jim Umpleby, Google's Sundar Pichai and Microsoft's Satya Nadella.
Government needs to focus on areas where reforms are much easier
Buying Yahoo's assets would expand DailyMail.com's reach and improve its digital ad rev
Scams happen with high regularity because the price of getting caught is insignificant. Aggrieved investors run from the police to already clogged courts to find redress for issues for which financial regulators have been specifically set up. For over 3,750 years we have known what to do, but we don't do it, observes Debashis Basu.
Largest bidder says FTIL not following correct process and MCX not extending cooperation; FTIL and MCX say cooperating fully
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
Sources indicated defence and national security initiatives.
'They are geopolitical, commercial, educational, cultural and about innovation.' 'Also, they are about a common value system.'
R-Cap's demands following PwC's audit report add a fresh layer of worries for MCX investors and could hit valuations marginally.
No longer an in-house task; hiring legal eagles is now becoming norm for M&As, fundraising
Private equity investing can be rewarding, but an investor needs to be patient as exiting can be tricky and these assets do not provide instant liquidity.
In India, many cities lack bicycle lanes and proper pavements. This, coupled with heavily congested roads, creates a danger to cyclists. Furthermore, the low costs of bicycles may make it more economical to buy than to rent.
Only a handful of overseas acquisitions by Indian firms have survived the bloodbath, says Bhupesh Bhandari.
It is significant that the PM's appeal to invest in India comes at a time when the global economy is facing a difficult phase
As Prime Minister Narendra Modi arrived in New York on Friday on a five-day US visit, he was greeted with 'Har Har Modi' slogan.
Arun Jaitley is on a 10-day trip to the US.
Launches of new homes reduced drastically this year.
Vikramank Singh looks back at the year gone by!
Not many people know that today's BPM industry gives specialists great career options.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
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