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Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

HDFC Bank looks to raise Rs24,000 crore via share sale

HDFC Bank Ltd is planning to raise up to Rs24,000 crore through a combination of preferential allotment and qualified institutional placement (QIP), the lender said in a stock exchange notification on Wednesday, reports Mint. Read more

Edelweiss Group acquires Religare’s securities business

The Edelweiss Group on Wednesday announced the acquisition of Religare Enterprises Ltd’s securities business, which includes securities and commodities broking, and depository participant services, reports Mint. Read more

Waaree Energies raises Rs100 crore from Centrum Financial, global private equity fund

Waaree Energies Ltd, an integrated solar power solutions company, has raised Rs100 crore from Centrum Financial Services Ltd, the non-banking finance arm of the Centrum Group, and a South-East-Asia-based private equity fund, reports Mint citing a spokesperson for Centrum. Read more

Tycoons set to remake India steel as $26 billion battle heats up

Surging steel prices and a new Indian insolvency law have set the stage for an industry-defining battle between tycoons and producers for more than $26 billion of the sector’s most-coveted assets, reports Bloomberg. Read more

Traditional businesses have invested $50 million in start-ups this year

More than a dozen such businesses have made investments totalling $50 million in 11 start-ups in 2017, shows data from Venture Intelligence, a research service focused on private company financials, transactions and valuations, reports Mint. Read more

Altico Capital invests Rs1,250 crore in 5 realty deals

Altico Capital, the non-banking finance company, promoted by Clearwater Capital, Abu Dhabi Investment Council and Varde Partners, has invested over Rs1,250 crore across five deals in Pune and Hyderabad, reports The Economic Times. Read more

Creditors of insolvent companies can get shares at discount

The Companies Amendment Bill passed by Parliament has brought relief for creditors involved in insolvency proceedings allowing them to acquire shares of insolvent company at a discounted price, reports The Economic Times. Read more

Bharti Airtel, Tata Teleservices Boards clear terms for consumer business merger

The boards of Bharti Airtel, Tata Teleservices (TTSL) and its listed Tata Teleservices (Maharashtra) (TTML) unit separately cleared the terms for the merger of Tata Group companies’ consumer mobility business with the nation’s top telecom operator, reports The Economic Times. Read more

Rs6,000-crore equity held back from laggard state-run banks

The Centre did not release around Rs6,500 crore to 13 public sector banks (PSBs) in 2016-17 under the Indradhanush plan as none of the banks met the performance standards, reports Business Standard. Read more

PE funds stare at capital loss on stressed investee firms

Even as vulture funds eye bargain buys from stressed assets on sale, a set of private equity (PE) funds are staring at capital losses and looking at ways to limit these, as their investee companies are dragged to the National Company Law Tribunal (NCLT) by lenders, reports Business Standard. Read more

Upfront cash criteria to bid for stressed assets not feasible

The new evaluation criteria laid down by lenders for stressed assets have put bidders in the bind as more weight is being given to upfront cash to be paid to the banks with the bid offer instead of giving more weight to equity investments to be made in the stressed company, reports Business Standard. Read more

RCom lenders’ meet today, stock up 32%

The stock price of Reliance Communications (RCom) shot up by over 32.14% to close at Rs17.10 on Wednesday, possibly triggered by a joint lenders’ forum meeting scheduled for Thursday. The forum is expected to discuss the bids it has received for sale of the company’s assets, reports Business Standard. Read more

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