Read the latest India business news 26th December 2018:
– NCLT helped resolve insolvency and bankruptcy proceedings for more than Rs.80,000 Crore during 2018.
– Britannia is planning to strengthen its dairy and snacks portfolios in 2019 to reposition the brand as a foods company and also diversify into the revenue streams.
– Vedanta will set up a new steel plant in Bokaro, Jharkhand at an investment of around $3-4 billion. The plant will be part of Electrosteel Steels.
– Northern Arc Capital has raised Rs.200 crore from Dutch development bank FMO via NCDs. The firm lends to impact-focused companies and also facilitates debt financing.
– JK Cement as launched QIP to raise Rs.600 Crores from institutional investors for Capex.
– Cube Highways has emerged the top bidder in NHAI TOT auction with a bid of Rs.4,612 crore. Cube is backed by global infrastructure fund I Squared Capital.
– Radiant has agreed to acquire 49.7% stake in Max Healthcare from Life Healthcare in an all-cash deal. Later, healthcare and investment businesses of Max India, will be demerged into two separate entities.
Also read: Indian CEOs of International companies
– Grofers is in talks to raise around $150 million from SoftBank.
– PVR Cinemas is planning to infuse around 2500 to 3000 fresh capital for expansion.
– The Government and Insolvency Board is planning to take action against Liberty House and other entities which backed out on their plans to take over companies through the resolution process.
– Vedanta chairman, Anil Agarwal, has indicated that his son and daughter may not head the group. He said that he wants to make it professionally managed and Vedanta is too big to have a typical family succession plan.
– State-owned banks will remain closed due to a strike called by the bank employees. However, private banks will operate normally.
News credit: Livemint, Economic Times, Business Standard