Dialog Axiata PLC (Dialog), Axiata Group Berhad (Axiata) and Bharti Airtel Limited (Bharti Airtel), signed a Definitive Agreement to combine their operations in Sri Lanka. Under this agreement, Dialog will acquire 100% of the issued shares in Airtel Lanka, in consideration of which Dialog will issue to Bharti Airtel, ordinary voting shares which will amount…
The Board of Directors of Rane (Madras) Limited (RML), Rane Brake Lining Limited (RBL) and Rane Engine Valve Limited (REVL), at their respective meetings held today, have approved the proposed reorganization through a scheme of arrangement which entails merger of RBL and REVL into RML. The merger significantly simplifies the group structure by consolidating listed…
Sun Pharmaceutical Industries Limited (Sun Pharma) and Taro Pharmaceutical Industries Ltd. (Taro) announced that they have entered into a definitive merger agreement in which Sun Pharma, Taro’s controlling shareholder, has agreed to acquire all of the outstanding ordinary shares of Taro other than the shares already held by Sun Pharma or its affiliates for US$43.00 per share in cash…
HCKK Ventures Limited, a multi-faceted software and services provider, has officially announced merger of Softlink Global Private Limited, a global leader in logistics technology solutions with HCKK subject to market regulators approval. This strategic move, with HCKK Ventures acquiring Softlink at an approximate valuation of Rs 430 crore, marks a significant step forward in the…
Cactus Communications (CACTUS), a science communication and technology company, has announced a merger with Kolabtree, the world’s largest freelancing platform for scientists that connects businesses and labs with freelance PhD-qualified scientists all over the world. The merger will bring forth a new managed service model that will help to enhance Kolabtree’s user experience significantly, a statement said. With…
Inox Wind, India’s leading wind energy solutions provider, announced that as part of the strategic decision the Board of Directors of Inox Wind Limited at its meeting held on 12th June, 2023 considered and approved the Scheme of Arrangement which provides for amalgamation of Inox Wind Energy Limited (IWEL) into Inox Wind Limited (IWL) subject…
TCNS Clothing (TCNS), India’s leading women’s ethnic focused fashion player, announced that it has entered into definitive agreements for combining with ABFRL, India’s leading fashion & apparel company, and a part of the Aditya Birla group. The transaction entails combination of TCNS into ABFRL and will be carried out through ‐ (1) Acquisition of the…
Trentar, a leading Full Stack UAV and Aerial Solutions group, on the 20th of April announced the merger of its two UAV manufacturing units viz TM Aerospace Pvt. Ltd and RFLY Innovations Pvt. Ltd. Announcing the merger, Lt Gen Sarath Chand (Retd.), CEO of Trentar’s manufacturing division, said that the merger would enable both entities to…
Crompton Greaves Consumer Electricals Ltd. (Crompton) and Butterfly Gandhimathi Appliances Ltd (Butterfly) announced a proposed scheme of amalgamation of Butterfly with Crompton. Upon Merger, the public shareholders of Butterfly as on the record date will receive 22 equity shares of Crompton for every 5 equity shares held by them in Butterfly, as a consideration for…
Boasso Global, Inc. (Boasso) and Q Super Holdings, Inc. (Quala) announced the signing of a definitive agreement under which the companies will merge their complementary businesses to create one of the leading infrastructure services solution providers for the liquid bulk logistics industry. The transaction is supported by a new investment from Boasso’s majority shareholder, KKR, through its KKR…
Kirloskar Ferrous Industries Limited (KFIL), one of the leading castings and pig iron manufacturers in India, announced the Scheme of Arrangement and Merger to amalgamate and consolidate the entire Undertaking business and operations of Indian Seamless Metal Tubes Limited (ISMT). Commenting on the merger, Atul Kirloskar, Chairman, KFIL, said, “We acquired ISMT in March 2022,…
InCred and KKR announced the conclusion of the strategic merger of InCred Financial Services Limited (InCred Finance) and KKR India Financial Services Limited (KIFS). Commenting on the closure of the deal, Bhupinder Singh, Founder and CEO of InCred Group, said, “InCred Finance’s business has emerged in great shape from the pandemic delivering top notch risk performance.…
The Board of Directors of PVR Limited (PVR) and the Board of Directors of INOX Leisure Limited (INOX) have approved an all stock amalgamation of INOX with PVR. The amalgamation is subject to approval of the shareholders of PVR and INOX respectively, stock exchanges, SEBI and such other regulatory approvals as may be required. Upon…
Curefoods, a cloud kitchen company which houses brands like EatFit, CakeZone, and Aligarh House, announced its merger with Maverix, a foodtech player. Following the merger, Curefoods will become the second-largest cloud kitchen player in India in terms of footprint with the largest manufacturing capability in the fresh food space, the statement said. The merger will also take Curefoods’ market presence to 125 kitchens…
Shriram Transport Finance Limited (STFC), India’s Commercial Vehicle Financier and Shriram City Union Finance Ltd. (SCUF), India’s diversified NBFC in the underserved segment and their Promoter entity Shriram Capital Limited (SCL) announced that the boards of directors of STFC, SCUF & SCL, at their respective board meetings held on 13th December 2021, approved the merger…