Macquarie Group Ltd and a Canadian Pension Plan Investment Board-backed investment trust are among the finalists to acquire road assets from India’s infrastructure fund, sources familiar with the matter revealed. The potential deal is estimated to range from $300 million to $500 million, Continue Reading
ITC Ltd announced its decision to separate its hotels business from the rest of the company, which includes its cigarettes and food businesses. The new entity, named ITC Hotels Ltd, will be formed, with ITC holding a 40% stake, and the remaining 60% ownership distributed among existing ITC shareholders. The company stated that the hotels […]Continue Reading
South Indian Bank (SIB), a private sector lender, intends to raise up to Rs 2,500 crore in order to strengthen its capital basis for commercial growth and comply with regulatory requirements. At the previous AGM for the previous fiscal year, the bank’s shareholders had approved this fund raising, but the bank did not actually raise […]Continue Reading