Shares of Zomato may be under pressure again, following reports of Alibaba’s plans to sell its $200 million shares in Zomato via a block deal on Wednesday. Media reports that Ant Financial and Alipay would reduce their stake in the food delivery unicorn run by Deepinder Goyal to around 10% from the current 13% and the block deal would be done at a discount of around 5-6 . percent.
Prannoy Roy and his wife, Radhika Roy, founders and promoters of New Delhi Television (NDTV), have resigned as directors of RRPR Holding Private Limited, the holding company of NDTV, with effect from 29 November. RRPR Holding, the vehicle of the NDTV promoter group, holds 29.18% of the capital of NDTV, which is taken over by the Adani group, owned by Gautam Adani.
Gland Pharma announced on Tuesday that it has entered into a put option agreement to acquire European group Cenexi for up to €120 million (about ₹1,015 crore), marking its foray into international markets. The company’s wholly-owned Singapore-based unit, Gland Pharma International PTE, has entered into a “put option agreement” to acquire 100% of Cenexi Group.
SEBI approved the change of control of IDFC Mutual Fund for Bandhan Bank– led consortium. In April 2022, the Board of Directors of IDFC and IDFC Financial Holding Company approved the sale of IDFC Asset Management Company and IDFC AMC Trustee Company to the Consortium. The consortium included Bandhan Financial Holding, Lathe Investment Pte. ltd. (subsidiary of GIC), Tangerine Investments and Infinity Partners (subsidiaries of ChrysCapital).
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Stainless Steel Wind said the company and its arm, Inox Green Energy Services, had paid debts of ₹411 crore. As part of the strategic initiative to deleverage their respective balance sheets, Inox Wind and Inox Green Energy recently paid ₹250 crore and ₹161 crore (totaling ₹411 crore) to reduce their debt, according to an exchange filing.
Biocon said its unit, Biocon Biologics, has completed the multi-billion dollar acquisition of the global biosimilars business of its partner, Viatris Inc. In February, Biocon Biologics signed an agreement to acquire the biosimilars business of Viatris Inc for a consideration of around ₹24,990 crore.
India3B BlackBio Biotech India’s subsidiary, 3B BlackBio Biotech India, has signed a non-binding letter of intent to acquire a 100% stake in a European-based manufacturer of life science products. A 60-day exclusivity period has been agreed between the parties to complete the due diligence.
Aditya Birla Sun Life AMC has received IFSCA approval to act as a registered fund management entity and perform alternative investment funds (AIF) and portfolio management services (PMS).
Rattan India Enterprises Ltd. (REL) announced that its wholly-owned subsidiary, Neotec Insurance Brokers Ltd., has received a direct insurance broker license from IRDAI for life and general insurance, which will pave the way for REL to start the business of selling life and general insurance products through digital channels on its fintech marketplace platform, BankSe
