Siemens India’s promoter group rejigged its holding in the company as the German parent Siemens AG transferred 24% stake in the Indian arm to subsidiary Siemens Gas and Power Holding BV in line with the conglomerate’s global strategy. The overall holding of the parent group remained unchanged at 75%...

Mid-stage, technology focused venture capital fund Iron Pillar has raised $45 million, as a top-up to its first fund. — Mint Khaitan & Co advised Iron Pillar Group led by a team of partner Siddharth Shah , partner Bijal Ajinkya , partner Vivek Mimani , senior associate Rahul Jain , associate Is...

Whoever said we are looking at a mammoth recession and slower capital markets? Not the legal advisers close to Reliance Industries… After now four gigantic rounds of fundraising for its subsidiary Jio Platforms, Reliance Industries (RIL) is issuing Rs 53,125 crores of equity in what is billed as Ind...

Shares of Sanofi India declined more than 2 percent intraday on September 11 after the company approved sale of its Ankleshwar unit. The company board approved a transaction for the slump sale and transfer of its manufacturing facility at Ankleshwar, Gujarat to Zentiva and its legal entity in India,...

SmartVizX, creator of India’s first Virtual Reality-based product Trezi, has received fresh funding from new and existing investors. — Yourstory Investors included Rockstud Capital, YourNest and IAN Fund. Khaitan & Co advised Rockstud Capital Investment Fund led by a team of partner Mayank Sing...

Basix Sub-K iTransactions, a Hyderabad-based fintech company focused on financial inclusion, has raised Series C round of Rs 75 crore from Maj Invest, a Denmark-based asset management company. — Telanganatoday Khaitan & Co advised Danish Microfinance Partners K/S and Maj Invest Financial Inclus...

Scoop: Rumours suggest other firms are also considering similar steps

One97 Communications Ltd, the parent company of Paytm, plans to invest ₹5 crore in sports fan engagement platform, Rooter Sports Technologies, as part of its pre-Series A round, according to two people aware of the deal. — Mint Shardul Amarchand Mangaldas & Co advised One97 Communications Limit...

Shapoorji Pallonji Infrastructure on Monday announced that it will sell five operational solar energy assets to KKR for ₹1,554 crore. — Mint Khaitan & Co advised regular infrastructure Shapoorji Pallonji Infrastructure Capital Company Private Limited led by a team of partner Akhil Bhatnagar , p...

According to Khaitan & Co, Bank of Baroda extended financial assistance to JSW Steel “in the form of term loan for a sum not exceeding of INR 1294.65 crores and bank guarantee facility for a sum not exceeding INR 1000 crores for the purpose of financing the upfront payment obligations of JSW un...

MILWAUKEE—Rockwell Automation today announced that it has acquired MESTECH Services, a global provider of Manufacturing Execution Systems / Manufacturing Operations Management, digital solutions consulting, and systems integration services. — Corporate Press Release Lex Consult advised Pune-headquar...

Khaitan & Co equity partners and executive directors have taken a 20% cut on their take-home pay, reported Bar & Bench today, but without any adjustments of more junior staff or lawyers’ salaries. We have reached out to Khaitan for comment. Update 17:03: Executive director HR, Amar Sinhji ...

At a time when the covid-19 pandemic has disrupted normal business operations and put cash flows under stress, Bengaluru-based real estate developer Embassy Property Developments Pvt Ltd has raised $180 million ( ₹1,355 crore) in debt to help with working capital requirements and repayment of existi...

State-owned lender Bank of Baroda (BoB), on Friday said that it has signed a binding agreement with BNP Paribas Asset Management Asia Ltd for a potential merger of their mutual fund business, in an all-stock deal, the bank said in a stock exchange filing. — Mint AZB & Partners advised BNP Parib...

Bajaj Electricals Limited issued equity shares at a price of Rs 310 per rights equity share (including a premium of Rs 308 per rights equity share) aggregating to Rs 3,499.94 million ($47.5m). Bajaj Electricals Limited … announces the successful completion of its Rights Issue of Equity Shares, which...

Indian movie producer Eros International Plc is merging with privately-held U.S. filmmaker STX Entertainment in an all-stock deal that brings together Bollywood and Hollywood. The combined company, to be known as Eros STX Global Corp., will be publicly traded and have a valuation of more than $1 bil...

Paras Healthcare Private Limited (client) acquired Fortis JK Hospital through the purchase of medical assets of Plus Medicare Hospitals Private Limited under an Asset Transfer and Framework Agreement. Paras will manage and run the operations of the hospital of Plus Medicare Hospitals Private Limited...

Rupeek Fintech has raised $60 million (about Rs 432 crore) across two separate rounds, led by GGV Capital, Binny Bansal and Bertelsmann India Investments, among others. The Bengaluru-headquartered startup, which provides loans against gold as collateral, said it will use the proceeds from the latest...

IT peripherals and services firm Ricoh India has renamed itself as Minosha Digital Solutions, a top company official said on Monday. A consortium, led by investor Kalpraj Dharamshi and Rekha Jhunjhunwala, has taken over the company following the National Company Law Tribunal’‘s (NCLT) approval. — Ou...

In the first instance of resolution of a stressed power asset outside the insolvency and bankruptcy code (IBC) mechanism where the promoters have retained management control, a consortium of lenders led by Power Finance Corporation (PFC) has agreed to take a 38% haircut against their exposure of Rs ...