General Atlantic Acquires Ujala Cygnus Hospital Chain
The Indian healthcare sector is experiencing a surge in investment activity, with global players recognizing its immense potential. In a recent landmark deal valued at approximately ₹1600 crore (US$192.32 million), private equity giant General Atlantic (GA) announced the acquisition of a 70% stake in Ujala Cygnus Healthcare Services. This strategic move strengthens GA’s presence in […]
Vedanta Hit With Rs 1.86 Cr GST Demands: Financial Stress
Indian mining major Vedanta Ltd. has been hit with Goods and Services Tax (GST) demand notices totaling Rs 1.86 crore, representing a significant financial burden for the company. Issued by the Office of the Assistant Commissioner in Tirunelveli, Tamil Nadu, the notices cover a four-year period, ranging from financial year (FY) 2017-18 to FY 2021-22. […]
Gensol Engineering FY24 Revenue Surges 141% to Rs 960 Cr
Gensol Engineering, a leading player in the clean energy domain, has cemented its position as a powerhouse in the renewable energy sector with phenomenal financial results for the fiscal year ending March 31, 2024 (FY24). The company shattered its previous records by achieving a staggering Rs 960 crore (provisional and unaudited) in revenue, representing a […]
Sharekhan, Human Value Acquisition by Mirae Asset Approved
The Indian financial landscape witnessed a significant shift on April 2, 2024, with the Competition Commission of India (CCI) approving Mirae Asset’s acquisition of Sharekhan Ltd. and Human Value Developers Pvt. Ltd. in a deal valued at ₹3,000 crore (approximately USD $3.8 billion). This landmark deal marks Mirae Asset’s strategic expansion in the Indian market, […]
IndoEdge, MG Motor 8% Stake Deal Approved
The Indian electric vehicle (EV) market is experiencing a surge unlike anything seen before. With a Compound Annual Growth Rate (CAGR) of 30%, the market is forecast to reach a staggering valuation of $50 billion by 2030. To capitalize on this phenomenal growth, IndoEdge India Fund’s acquisition of an 8% stake in MG Motor India […]
India’s First 10GW: Adani Green’s Milestone
Adani Green Energy Limited (AGEL) has cemented its position as a frontrunner in India’s clean energy revolution by achieving a landmark accomplishment – surpassing a significant 10,000 megawatts (MW) of operational renewable energy capacity. This remarkable feat marks a pivotal step in India’s journey towards a sustainable future, significantly boosting the nation’s progress in clean […]
Lemonn: PeepalCo’s New Investor App
PeepalCo, the financial services powerhouse behind the popular crypto exchange CoinSwitch, is shaking things up in the Indian stock market (estimated at $3.5 trillion as of April 2024) with the launch of its new app, Lemonn. Announced on April 2nd, 2024, Lemonn caters specifically to first-time investors, aiming to bridge the knowledge gap and make […]
Karnataka Bank Raises Rs 600 Cr via QIP: Boosts Stability
Karnataka Bank recently achieved a milestone by raising Rs 599.99 crore (nearly Rs 600 crore) through a Qualified Institutional Placement (QIP). This significant capital injection strengthens the bank’s financial muscle and propels its ambitious expansion plans. The successful QIP offering builds upon the bank’s previously announced Rs 1,500 crore capital raise program, which included preferential […]
Axis Bank-Max Life Agreement Receives CCI Clearance
The Competition Commission of India (CCI) has greenlit Axis Bank’s proposal to acquire a significant stake in Max Life Insurance Company. This move will see Axis Bank’s holding in Max Life surge from around 1% to approximately 9.9%, with the option to further acquire up to 7% in tranches, taking their total stake to 19.99%. […]