Shares of Zomato may come under pressure once again, on reports of Alibaba’s plans to sell its shares worth $200 million in Zomato via a block deal on Wednesday. Media reports have it that Ant Financial and Alipay would bring down their stake in the Deepinder Goyal-run food delivery unicorn to about 10 per cent from the current 13 per cent and the block deal is said to happen at a discount of about 5-6 per cent.
Prannoy Roy and his wife, Radhika Roy, Founders and Promoters of New Delhi Television (NDTV), have resigned as Directors from RRPR Holding Private Limited, the holding company of NDTV, with effect from November 29. RRPR Holding, the promoter group vehicle of NDTV, holds 29.18 per cent stake in NDTV, which is being taken over by the Adani group, owned by Gautam Adani.
Gland Pharma, on Tuesday, said it has entered into a put option agreement to acquire Europe-based Cenexi Group for up to €120 million (around ₹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 per cent of Cenexi Group.
SEBI has approved the change in control of IDFC Mutual Fund to Bandhan Bank-led consortium. In April 2022, the board of directors of IDFC and IDFC Financial Holding Company approved the divestment of IDFC Asset Management Company and IDFC AMC Trustee Company to the consortium. The consortium comprised Bandhan Financial Holding, Lathe Investment Pte. Ltd. (affiliate of GIC), Tangerine Investments, and Infinity Partners (affiliates of ChrysCapital).
Inox Wind has said the company and its arm, Inox Green Energy Services, have paid debts of ₹411 crore. As part of the strategic initiative to deleverage their respective balance sheets, Inox Wind and Inox Green Energy have recently paid ₹250 crore and ₹161 crore (aggregating to ₹411 crore) towards reducing their debt, an exchange filing said.
Biocon has 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 inked a pact to acquire Viatris Inc’s biosimilars business for consideration of about ₹24,990 crore.
Kilpest India’s subsidiary, 3B BlackBio Biotech India, has signed a non-binding letter of intent to acquire 100 per cent stake in a Europe-based life science products manufacturer. An exclusivity period of 60 days has been agreed upon between the parties to complete due diligence.
Aditya Birla Sun Life AMC has received approval from IFSCA to act as a registered fund management entity and carry out Alternative Investment Fund (AIF) and Portfolio Management Services (PMS).
RattanIndia Enterprises Ltd. (REL) has announced that its wholly-owned subsidiary, Neotec Insurance Brokers Ltd., has received an insurance direct broker licence from IRDAI for life and general insurance, which will pave the way for REL to start the business of sales of life and general insurance products though digital channels on its fintech marketplace platform, BankSe