Fortis Healthcare
Fortis Healthcare Limited, a prominent healthcare company, has recently revealed its plans to sell its hospital business operations located in Vadapalani, Chennai. The definitive agreements for this sale have been signed with Sri Kauvery Medical Care (India) Limited for a total consideration of INR 152 crore. In an official communication, Fortis Healthcare disclosed that the transaction will be conducted entirely in cash and is expected to be finalized by the end of July 2023.
Yes Bank
In a recent development, Yes Bank, one of India’s leading private lenders, has unveiled its plans to raise a substantial sum of ₹25 billion (equivalent to approximately $305 million) through the issuance of debt securities. This move comes as the bank aims to further bolster its financial strength and fuel its growth prospects, according to a report by Reuters.
Asian Paints
Mumbai, June 23, 2023 – Asian Paints Ltd, a leading paint company, has announced its acquisition of an additional 11% stake in White Teak, a renowned home decor company. The deal, valued at ₹54 crore, signifies Asian Paints’ commitment to expanding its presence in the home decor market. As part of the agreement, Asian Paints has paid White Teak ₹59.5 crore as an earn-out, dependent on the achievement of predetermined financial milestones.
Zydus Life
In a recent development, Zydus Lifesciences announced its acquisition of a 6.5 percent equity stake in Mylab Discovery Solutions Limited for a sum of ₹106 crore. This significant deal involves the share purchase agreement between Zydus Animal Health and Investments, a wholly-owned subsidiary of Zydus Lifesciences, and Rising Sun Holdings and Mylab Discovery Solutions.
Adani Group
In a significant development, Gautam Adani, Chairman of the Adani Group, has revealed plans for the introduction of a cutting-edge healthcare ecosystem driven by technology. This comes after the group’s notable commitment of Rs 60,000 crore towards corporate social responsibility initiatives last year, resembling the philanthropic efforts of Tata Trusts. The Adani family pledged support to a range of social causes, encompassing healthcare, education, and skill development.
IndusInd Bank
In an exciting development, the Hinduja Group is set to invest a substantial amount of ₹10,000 crore to increase its stake in IndusInd Bank. This news has been reported by various media sources, indicating the Group’s plans to boost its ownership in the bank from the current 17% to an impressive 26%. The transaction is expected to be finalized during the second half of the financial year 2023-24.
Coforge
In a significant move, Coforge Ltd, an IT company, has announced the acquisition of a 20 percent stake in Coforge Business Process Solutions Private Ltd for a total of Rs 336.94 crore. This acquisition adds to the company’s strategic investments and expansion plans.
Ashok Leyland
Ashok Leyland, a prominent commercial vehicle manufacturer, has recently announced a strategic partnership with IDBI Bank Ltd to strengthen dealer channel financing. In a statement, Ashok Leyland revealed the signing of a Memorandum of Understanding (MoU) with IDBI Bank, aiming to provide tailored financial solutions for its dealers.
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