Axis Bank looks to buy near 10% stake in Go Digit Life Insurance – Times of India

BENGALURU: Private lender Axis Bank said on Tuesday it has signed a non-binding term sheet to invest Rs 49.9-69.9 crore ($6.12-$8.57 million) for a 9.94% stake in Go Digit Life Insurance. The development underscores private lenders’ growing interest in India’s lucrative and largely untapped insurance sector. The country’s biggest private lender HDFC Bank also announced … Read more

Crypto lender Nexo gets U.S. bank charter after buying stake in regulated bank

The crypto market has been battered this year, with nearly $2 trillion wiped off its value since its peak. Jonathan Raa | Nurphoto | Getty Images Cryptocurrency lender Nexo on Tuesday announced it has taken a stake in a federally-regulated U.S. bank, paving the way for the company to offer banking services to Americans as … Read more

LIC buys over 2% stake in BPCL for nearly Rs 1,598 crore – Times of India

NEW DELHI: LIC has acquired over a 2 per cent stake in state-owned refiner Bharat Petroleum Corporation Ltd (BPCL) for nearly Rs 1,598 crore since December last year. The state-owned life insurance behemoth in a regulatory filing on Tuesday said its shareholding in BPCL has increased from 15,25,08,269 to 19,61,15,164 equity shares, increasing its shareholding … Read more

Blackstone Sells Stake In Embassy Office Parks For $325 Million: Report

Blackstone sells 7.7 crore shares of Embassy REIT for $325 million New Delhi: Global fund Blackstone on Tuesday raised around $325 million (about Rs 2,650 crore) by selling its shares in Embassy Office Parks REIT to monetise part of its investment, according to sources. Embassy Office Parks REIT is the country’s first Real Estate Investment … Read more

WAPCOS Files IPO Papers With Sebi; Government to Divest Stake

Public sector firm WAPCOS Ltd has filed preliminary papers with capital markets regulator Sebi to float an Initial Public Offering. The public issue will be a complete Offer For Sale (OFS) of up to 32,500,000 equity shares by the promoter, Government of India, according to the Draft Red Herring Prospectus (DRHP). WAPCOS provides consultancy, and … Read more

Reliance Acquires 20% Stake In Solar Tech Firm Caelux For $12 Million

The partnership is expected to help Reliance produce higher efficiency and low-cost solar modules. New Delhi: Reliance Industries Ltd on Friday said it has acquired a 20 per cent stake in California-based solar tech firm Caelux for USD 12 million as it strengthens its new energy manufacturing capabilities. Reliance New Energy Ltd, a wholly-owned subsidiary … Read more

Reliance unit to buy 20% stake in Caelux in renewable energy push – Times of India

BENGALURU: Indian oil-to-chemicals conglomerate Reliance Industries Ltd said its unit Reliance New Energy Ltd would buy a 20% stake for $12 million in solar technology developer Caelux Corp to produce more powerful and lower cost solar modules. Pasadena, California-based Caelux is involved in research and development of perovskite-based solar technology that could see high efficiency … Read more

Reliance New Energy to Buy 20% Stake in US-Based Caelux; Know Details

Reliance New Energy Limited (RNEL), a wholly-owned subsidiary of Reliance Industries Ltd, has signed definitive agreements to invest in Caelux Corporation (Caelux), a company headquartered in Pasadena, California, in the United States of America, engaged in the development of perovskite-based solar technology. RNEL will invest USD 12 million to acquire 20 per cent stake in … Read more

Adani Group Pledges Stake Worth $13 Billion in Ambuja Cements and ACC

New Delhi: The Adani Group has pledged its entire stake worth USD 13 billion in Ambuja Cements and ACC, days after completing its USD 6.5 billion acquisition of the two companies. According to regulatory updates on Tuesday, billionaire Gautam Adani-led group has encumbered its 63.15 per cent stake in Ambuja Cements and 56.7 per cent … Read more

Polish firm wants to take over Rosneft’s former stake in German refinery: Reuters, citing sources

The German government placed PCK refinery in Schwedt, Brandenburg, under trusteeship. Now Reuters reports that Polish refiner PKN Orlen wants to take over the part of the facility owned by Russia’s Rosneft. Picture Alliance | Picture Alliance | Getty Images Polish refiner PKN Orlen is interested in taking a controlling stake in the PCK Schwedt … Read more