The proposed demerger will coincide with PhonePe's ongoing fund raising plan of about a billion dollar through primary and secondary sale of shares.
PTC India is promoted by stateowned power utilities NTCP, Power Finance Corporation, NHPC and Power Grid Corporation of India.
The deal, at a little over Rs 32 crore an acre, is the costliest transaction in the neighbourhood that is about 16 km away from DLF Cyber City.
It will be the first pure play credit card company to be listed in India.
Company houses chain of 1,750 stores, 600 Value Express kiosks; deal unlikely to include 60,000 vending machines.
Hero Corp leads the race; Founding member Analjit Singh in talks to raise as much as Rs 1,200 cr
In the first part of the deal, Radiant Life Care had acquired 49.7% stake in MHIL for Rs 2,136 crore from South African firm— Life Healthcare.
The bank has been plagued by asset-quality woes.
Far & Wide Talks are on with Cox & Kings promoter Peter Kerkar and 21% stakeholder Yes Bank; valuation depends on lenders’ haircut.
Vodafone Idea is looking at generating funds from various avenues, including a Rs 25,000 crore rights issue in the June quarter.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon