Ajay Piramal does it again, sells data analytics business for a profit of Rs 3,350 crore

Piramal group chairman Ajay Piramal has done it again – the art of investing in profitable future businesses and exiting at the right time with handsome profits. Piramal, who bought the US-based health information company Decision Resources Group (DRG) for $635 million (then valued at Rs 3,400 crore) in May 2012, today announced to sell it to the US-based […]

Vodafone Idea to close m-pesa business, writes off Rs 210 crore for payments bank closure

NEW DELHI: Vodafone Idea Ltd has decided to close m-pesa vertical following the closure of Aditya Birla Idea Payments Bank Ltd (ABIPBL), in which it was being merged with, a top official said on Monday. Nearly 17 months after it began operations, ABIPBL on July 20 announced winding up of its business on account of […]

Kalpataru Power Transmission to raise Rs300 crore via NCDs

Photo: Indranil Bhoumik/Mint New Delhi: Kalpataru Power Transmission Ltd on Sunday said its shareholders’ have approved the company’s proposal to raise up to Rs.300 crore through non-convertible debentures (NCDs). In a regulatory filing, the firm said its shareholders have approved the “issue and allot secured/unsecured redeemable non-convertible debentures (NCDs) up to Rs.300 crore”. On the […]

Asian Paints to invest Rs4,000 crore in new units in Karnataka, Andhra Pradesh

Mumbai: Asian Paints Ltd is making an investment around Rs.four,000 crore on putting in productionplant life in Karnataka and Andhra Pradesh, although it has advised that demand conditions inside themodern-day economic “nevertheless stay uncertain” due to the worldwide monetary scenario. Asian Paints chairman Ashwin Choksi said in the modern day annual record that “the employer […]

IIFL appears to elevate Rs750 crore realty debt fund

The fund will observe the group approach of making an investment in secured debt in mid-earningshousing. IIFL AMC Ltd is raising a Rs.750 crore debt fund, every dayeveryday be India’s first category III AIF (opportunity investment fund) real property fund, a daily company authentic stated. class III AIFs are allowed daily borrow from any lending […]

Fertiliser subsidy bill set to reduce by Rs 10,000 crore next fiscal: Crisil

The reduction in the subsidy bill could help the government narrow its fertiliser subsidy arrears. economy, business and finance agriculture Overall reduction in the subsidy bill will be about Rs.10,000 crore. The next financial year will see the government’s subsidy bill reduce by around Rs 10,000 crore thanks to the cut in the nutrient-based subsidy […]