The government will rationalise the requirements and procedures for speedy approval for merger of companies and the scope for fast track mergers will be widened as part of efforts to further improve the ease of doing business. The proposal is part of the Union Budget for 2025-26 presented in the Parliament on Saturday. "Requirements and procedures for speedy approval of company mergers will be rationalised. The scope for fast-track mergers will also be widened and the process made simpler," Finance Minister Nirmala Sitharaman said in her Budget speech. Among other steps, the minister said the government will now bring up the Jan Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. In the Jan Vishwas Act 2023, more than 180 legal provisions were decriminalised. Also, the revamped Central KYC Registry will be rolled out in 2025. "We will also implement a streamlined system for periodic updating," Sitharaman said. The Institute of Company Secretaries of India
Billionaire Mukesh Ambani's Reliance Industries has acquired technology-driven and oncology-focused healthcare platform Karkinos for Rs 375 crore, the firm said on Saturday. Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Mumbai-listed India's most valuable company, completed the acquisition of Karkinos Healthcare Pvt Ltd with allotment of requisite shares, the firm said in a stock exchange filing. Karkinos was incorporated in India on July 24, 2020, and is in the business of providing technology-driven innovative solutions for the early detection, diagnosis, and management of cancer. It had a turnover of about Rs 22 crore in the 2022-23 fiscal. "Reliance Strategic Business Ventures Ltd has on December 27, 2024, subscribed to and has been allotted 1 crore equity shares of Rs 10 each, for cash, aggregating Rs 10 crore and 36.5 crore optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos," according to the ...
The deal is expected to value Gurugram-based HR tech firm PeopleStrong at approximately Rs 1,500 crore
Bankers anticipate deal-making to remain robust in 2025 with several marquee deals in the making
M&A activity in India has largely been unaffected by geopolitical uncertainty
Digital mergers and acquisitions with at least 10 per cent of the global user base, gross merchandise value (GMV), or revenue in India now require approval from the Competition Commission of India
Verizon has offered $38.50 per share, representing a premium of 37.3% to the closing stock price of Frontier on Sept. 3, a day before reports of a potential acquisition first emerged
FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances. TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm. "We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed. Accordingly, in terms of the Scheme, the effective date of the scheme (of merger) is September 1, 2024," the company said in a regulatory filing. This is in line with the company's focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies, it added. "There is no change in the operating structure for these business units a
The company becomes the largest shareholder in three-year-old Rage Coffee's parent, whose investors include Sixth Sense Ventures, and prominent figures such as cricketer Virat Kohli
The jump in spending on dealmaking and expanding reserves marks a shift in strategy following a years-long focus on shareholder returns over growth, which many firms had employed
With 98 deals, the total value of M&A stood at $1.8 billion. In the same month last year, the value was $8 billion across 204 deals
India is the world's second busiest IPO market this year after the United States, with bankers expecting more activity amid a paucity of deals elsewhere in Asia, Reuters reported last month
Infosys will acquire a 100% stake in the German engineering R&D services provider, expanding its footprint in Europe
Magicrete, which produces building product AAC Blocks, construction chemicals, and precast construction solutions, on Wednesday said it has completed the acquisition of a majority stake in Maxlite. The company did not disclose the actual stake that it has acquired and also the deal value. In a statement, Magicrete said this strategic acquisition would enhance its total installed capacity of AAC (Autoclaved Aerated Concrete) blocks to 1.8 million cubic metres per annum. Maxlite is an AAC Blocks manufacturer located in South India, headquartered in Bengaluru. It operates two AAC Blocks manufacturing facilities, one in Karnataka and the other in Tamil Nadu, boasting a combined annual capacity of 5,00,000 cubic meters. AAC Blocks serve as resource-efficient alternatives to traditional red clay bricks, offering superior thermal insulation and reducing construction time and structural load. They are about ten times larger than clay bricks and are manufactured using waste fly ash, thereb
Culver Max and BEPL sent a termination notice with a $90 million fee to ZEEL after Sony cancelled the merger deal valued at $10 billion
Sony Group Corp has called off its merger with Zee after nearly two years of negotiating the $10 billion deal, which was set to become India's fourth-largest media house
Zee MD and CEO Punit Goenka has offered to step down from his chief executive role, ahead of the deadline for the merger deal on January 20
Tata Consumer is set to acquire a controlling stake in Organic India at a valuation of Rs 1,800 crore and a 75 per cent stake in Capital Foods at a valuation of Rs 5,100 crore
Sony Group and Zee Entertainment have faced disputes over the choice of the merged unit's CEO. However, terms of the deal are expected to be clarified by January 21
From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023