Page 33 - Acquisition

Byju's takes Rs 300 crore unsecured loan from Aakash at a rate of 7.5%

Aakash Educational Services was acquired by Think and Learn Pvt, Byju's parent company, in April 2021 for a cash and stock deal worth $950 million

In call with bankers, Musk pledges to close Twitter deal by Friday

Elon Musk pledged to close the acquisition of Twitter Inc. by Friday in a video conference call with bankers helping fund the deal

Hindustan Zinc eyeing acquisitions in US, Europe in new growth push

Parent Vedanta has zinc assets in Namibia, South Africa and Ireland

Solar glass manufacturer Borosil Renewables acquires Interfloat Group

India's first solar glass manufacturer Borosil Renewables Ltd has acquired 86 per cent stake in Europe's largest solar glass manufacturer Interfloat Group for an undisclosed sum of money. "With its acquisition of the Interfloat Group, BRL's solar glass manufacturing capacity will grow to 750 tonnes per day from the current 450 TPD, an increase of 66 per cent," the company said in a statement. This capacity of the combined entity will further increase to 1,300 TPD by year end with the commissioning of a new furnace with a capacity of 550 TPD in India. "This acquisition will make a wider range of solar glass available to BRL's expanded customer base in Europe. Borosil leverages its highly efficient production technology to bring greater productivity and a lower carbon footprint to the European entity," it said. Interfloat Group consists of two companies -- GMB Glasmanufaktur Brandenburg GmbH (GMB), based in Tschernitz, Germany, and Interfloat Corporation, based in Liechtenstein. GMB

We won't make an acquisition just because we have to: Piramal Pharma chief

In a Q&A, Nandini Piramal, chairperson of the firm, says the company currently sees great scope in expanding and organically growing the OTC business, and wants to build more consumer focused brands

Parle in talks to acquire Polish biscuit brand dr Gerard, says report

dr Gerard was launched in 1993 and has over 200 varieties of biscuits and salty snacks. In 2013, it was acquired by Bridgepoint for an undisclosed sum

Dalmia, Sagar Cements in race to buy debt-ridden Andhra Cements

Jaypee-owned firm undergoing bankruptcy process

NSDL acquires 5.6% stake in govt's e-commerce project ONDC for Rs 10 crore

Leading depository NSDL on Wednesday said it has acquired a 5.6 per cent stake in the Union government's Open Network for Digital Commerce for Rs 10 crore. National Securities Depository Limited (NSDL) invested an amount of Rs 10 crore in ONDC under the private placement route, the depository said in a statement. "This strategic deal will further strengthen the digital ecosystem to take digital e-commerce to the people of India," Padmaja Chunduru, MD and CEO at NSDL, said. ONDC is an initiative of the Commerce Ministry to create an open public digital infrastructure, while NSDL has played a key role in transforming the Indian securities market by facilitating, holding and transfer of securities in dematerialised form. NSDL demat account holders are serviced through the Depository Participants from 58,000 service centres. Its investors are present in 99 per cent of pincodes in India and are spread across 189 countries. "We are glad to have NSDL as a stakeholder which would be of ..

Warburg Pincus to acquire majority stake in MSME lender Vistaar Finance

NBFC has more than Rs 2,600 crore in AUM and it has some 200 branches

NPCI's plan to acquire a stake in ONDC faces RBI hurdle, says report

Banking regulator flags conflict of interest concern

WPP acquires remaining 26% stake in MediaCom from Balsara family

Deal size not known immediately, marks the exit of the Balsaras from the agency

Story of BillDesk and how it became India's largest bill payment platform

Founded by three former executives of Arthur Andersen, it initially offered banks a platform that enabled their customers to pay bills from their homes

UltraTech, JSW in race to acquire India Cements' project in Madhya Pradesh

India Cements had indicated in its FY22 annual report that it had acquired 184.53 hectares of limestone-bearing land at Pawai Tehsil in Panna District of Madhya Pradesh.

Sun Pharma extends rally, surges 7% in two days; now trades at 5-month high

Sun Pharma could see structural growth and be relatively insulated from the adverse price erosion scenario in the US, according to analysts.

Torrent Pharma acquires cosmetic derma player Curatio for Rs 2,000 cr

First major acquisition by Aman Mehta after taking charge at Torrent Pharma in August

Bank of India acquires over 5.5% stake in ONDC for Rs 10 crore

State-owned Bank of India has acquired over 5.5 per cent stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore, the lender said on Tuesday. On September 27, 2022, the bank invested in the capacity of promoter shareholder of ONDC, an amount of Rs 10 crore in ONDC, under the private placement route, Bank of India said in a regulatory filing. The bank said its shareholding in the company will be 5.56 per cent of the total shareholding in ONDC as on September 27, 2022. In absolute terms, it has acquired 10,00,000 equity shares for Rs 100 each in the to-be operational digital commerce company, incorporated in December 2021. A number of other banks have acquired stakes in ONDC. ONDC is aimed at promoting open networks for all aspects of the exchange of goods and services over digital or electronic networks in the country. The framework is expected to make e-commerce more inclusive and accessible to consumers and sellers.

True North acquires minority stake via own fund in Accion Group for $93 mn

Accion Labs is focused on digital transformation in global enterprises and tech firms. It has more than 4,800 employees globally, spread over 20 locations

Shruti Shibulal's Tamara Leisure expects 3-fold growth this fiscal

Hospitality firm Tamara Leisure Experiences expects its business to grow three-fold in the current fiscal, compared to pre-pandemic levels, amid easing of travel restrictions, according to the company CEO Shruti Shibhulal. The company is looking at inorganic expansion through acquisitions across its affordable, mid-segment and leisure businesses across India as well as overseas through internal accruals, Shibulal told PTI. "Due to COVID there was instability... This year we are expecting to hit about three times the number that we hit in 2019-20. Take the cut-off as March," she said on the sidelines of Entrepreneur Annual Conclave. Tamara Leisure operates in three segments -- luxury resorts, business hotels and mid-segment. Daughter of Infosys co-founder and former CEO SD Shibulal said that the last couple of years were very unstable. The company's business hotels were running in losses but with the easing of travel restrictions, the revenue has boomed again. "... We are seeing a

M&M to acquire Swaraj Engines' 17.41% stake from Kirloskar Industries

Mahindra & Mahindra(M&M) Ltd on Tuesday said it will acquire an additional 17.41 per cent stake in Swaraj Engines Ltd from Kirloskar Industries Ltd (KIL) for Rs 296 crore. The acquisition will result in increasing the company's stake in Swaraj Engines Ltd (SEL) to 52.13 per cent from 34.72 per cent, M&M said in a regulatory filing. The company proposes to acquire 21,14,349 equity shares constituting 17.41 per cent of the paid up equity share capital of SEL from KIL at a price of Rs 1,400 per share, it said. Consequently, SEL, which is currently an associate of the company, would become a subsidiary of M&M, the filing said. Based in Mohali, Punjab, SEL is in the business of manufacturing of diesel engines and its components. It was promoted in 1985 by erstwhile Punjab Tractors Ltd, which has since merged with M&M, and the then Kirloskar Oil Engines Ltd (now KIL). It had a total revenue from operations of Rs 1,138.15 crore for the year ended March 31, 2022, it said.

Palihapitiya to wind down two SPACs as choppy markets drag valuations

The firms went public in October 2020 and raised $460 mn and $1.15 bn, respectively, which they intended to invest in businesses in the technology sector