This will also be CDPQ’s biggest direct bet in India, overshadowing its $225 million investment in Kotak Mahindra Bank last March.
IHH, the world’s second largest healthcare group, has roped in investment bank Citi to advise on the process and is preparing a $1 billion war chest to fund the share purchase.
The company’s promoters, Malvinder and Shivinder Singh, who are engaged in a legal battle with Japanese pharmaceutical major Daichi Sankyo, now own less than 1% in the company — 0.77% to be precise.
Lakshmi Mittal remains a top FDI draw into the country. Will Essar Steel give the world’s largest steelmaker the breakthrough he has so long hoped for?
After at least three thwarted attempts to build a steel plant in the country, Essar Steel was a golden opportunity for a big & bold homecoming for the Mittals.
Orange is owned by Singaporebased AT Capital, a fund that has India-born billionaire Arvind Tiku as its primary sponsor. Based in Russia, Tiku made his fortune in the Central Asian oil and gas industry.
In my study, India has the best projected next-10-year growth rate, using data for last 60 years.
We have a licence to build 2,000 retail sites here. We’ve only done 88 so far. But now that we have seen the playing field, we are stepping up growth, he said.
India needs to make sure that it builds an ecosystem for the success of local businesses. If I am blunt about it, I think Europe is a digital colony of the US. Europe has nothing.
The consortium has offered to pay more than Rs 6,300 crore for Binani, while UltraTech Cement came a close second with its bid of Rs 6,100 crore.
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