A spokesperson for the Burman family said: “We remain committed to completing the Open Offer in the interest of public shareholders of Religare Enterprises Ld.” In response to the Sebi order, a Religare spokesperson said: “As per Sebi’s advisory the company will apply for the fit and proper status of the acquirers for the open … Read more
Paytm shares surged 4% to Rs 442 in Tuesday’s trade on BSE following reports that the company is in talks with Zomato to sell its movie ticketing business. Zomato shares also rose 1.5% in early trade.In an exchange filing, Zomato acknowledged, “We are in discussions with Paytm for the aforementioned transaction, but no binding decision … Read more
Sebi’s new guidelines for managing stock price impact arising from market rumours will ensure that the share price used in the merger and acquisition (M&A), buyback, and other transactions are not artificially influenced by speculative market activities, experts said on Wednesday. Market rumours pertaining to a company’s business can create significant volatility in stock prices, … Read more
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The Mumbai bench of the National Company Law Tribunal (NCLT) has given its nod to Metalyst Forgings’ acquisition by Deccan Value Investors LP-led … Read more
Mumbai: Aditya Birla Group’s UltraTech Cement, Sajjan Jindal-promoted JSW Cement, and Lakshmi Mittal-promoted ArcelorMittal are among a dozen companies vying to acquire Vadraj Cement, formerly owned by ABG Shipyard, having secured creditors’ debt of about ₹8,000 crore, said people with knowledge of the matter. Nirma Group, JK Cement, Naveen Jindal group entity, and Oaktree Capital … Read more
Capital markets regulator Sebi on Wednesday proposed relaxing rules for certain Foreign Portfolio Investors (FPIs) from enhanced disclosure requirements in a bid to promote ease of doing business. In its consultation paper, the regulator suggested exempting category I university funds and university-related endowments FPI that meet specific criteria from enhanced disclosure requirements. Additionally, it proposed … Read more
