New Delhi: Sahyadri Hospital Group, a major hospital chain in and around Pune, has received strong interest from leading hospital chains, including Malaysia-based IHH and IPO-bound Manipal Healthcare, for a buyout. The hospital chain, which includes a capacity of 1,200 beds across Pune, Ahmednagar and Nashik, was acquired by the Canadian pension fund Ontario Teachers Pension Plan (OTPP) from the Everstone Group in 2022. Sources say that the proposed deal is estimated at Rs.6,838 crore. Currently, OTPP owns nearly 100% of the hospital chain, and it has been instrumental in expanding its reach to oncology and other specialities. As the…
Author: Abizar Attari
Abizar Attari
Abizar has been writing before AI started to take over your lives! His expertise lies in analysing diverse perspectives and simplifying them for laymen. Beyond writing, storytelling and editing, he enjoys running, learning and enjoying the outdoors.
Read More
Mumbai: Reliance Retail’s luxury brand arm Reliance Brands aims to merge itself with its parent to avoid duplication of work and consolidate overlapping functions, according to sources within the company. The $10 billion retail behemoth accounts for about 15% of the total revenue for the Reliance group, after years of aggressive expansions and acquisitions to boost market share. Reliance Brands has partnerships with more than 85 global luxury and lifestyle brands, including Tiffany & Co, Bottega Veneta, Pret A Manger, Burberry and others. It has spearheaded Reliance’s presence in the retail landscape, allowing reputed global brands to enter the country…
If there’s one person who knows how to use existing strengths to dominate the market, it is Mukesh Ambani. Most think it is. But sometimes, a tried-and-tested strategy may or may not work. At least that’s what some sceptics think. Mukesh Ambani had to transfer control of the company’s telecommunications business to his younger brother Anil after a bitter succession tussle in 2006. But he knew how things worked, and his comeback with Jio’s disruptive 4G services in 2016 helped Mukesh regain control of the telecom market, along with other businesses thanks to the clever use of Jio’s suites of…
Mumbai: Ahmedabad-based Torrent Pharma has entered into a definitive agreement with global investment firm KKR to acquire its 46.39% controlling stake in JB Chemicals & Pharmaceuticals, one of India’s oldest pharma companies, the company announced on Sunday, June 29. The value of this deal is about Rs.11,917 crore. Torrent will also make an open offer to JB’s public shareholders to acquire another 26% of the company at Rs.1,639.18 per share. The company aims to merge JB Chemicals operations with itself. Torrent and KKR were in discussions for almost 10 months, even as rumors of the deal had emerged in the…
There is something fascinating about a dark horse- they are only thrust into the limelight when they truly achieve something no one expected them to. In business, many corporate makeovers have been credited to people who could boost morale, drive innovation and execute solutions that make the impossible possible. Retired Commodore Hemant Khatri is a select group of leaders who’ve earned their worth. When he assumed office on September 1, 2020, Hindustan Shipyard was a sick PSU with a loss of Rs.595.16 crore and the dubious distinction of a shipyard known for inordinate delays and cost escalations, requiring government grants…
New Delhi: Google has just launched an experiential app that allows you to virtually try any outfit online- you just need to upload your photo and the app shows you how it will look on an animated version of yourself. This app is currently in beta version, available only in the US as part of Google Shopping capabilities that was announced in May. https://www.youtube.com/watch?v=ZcgmK_ueKes Though it has just been launched, Google says there’s still a lot of work to do, and it might not always get things right. Once you download the app from the Google Play Store or Apple…
Mazgaon Dock Shipbuilders Ltd (MDL) is a PSU dear to the government for far greater reasons than you can imagine. Being the oldest shipyard in India, Mazgoan Dock Shipbuilders has a long and illustrious profile as the principal shipbuilder for the Indian Navy. It is one of the few shipyards that understands the changing requirements of the armed forces, based on updated technological and geopolitical requirements. Unlike other government companies, which faded into oblivion due to inefficiency and resistance to change, Mazgaon Dock has stood out to become a vital cog in India’s maritime defence ecosystem, while also working on…
Mumbai: Mazgaon Dock Shipbuilders Ltd (MDL) has signed an agreement with Japan’s Onomichi Dockyard to acquire a 51% controlling stake in the Colombo Dockyard PLC (CDPLC) for Rs.452 cr ($52.96 million). This deal will enable Mumbai-headquartered MDL to strengthen its position in the shipbuilding and ship repair market, where it currently dominates the market in India. 🔶#MDL is set to acquire a controlling stake in Colombo Dockyard PLC (CDPLC), Sri Lanka’s largest shipyard, in a deal worth up to USD 52.96 million. This marks MDL’s first international acquisition.Located in the Port of Colombo, CDPLC gives MDL a strategic foothold in…
Mohali: Former Punjab Revenue Minister Bikram Singh Majithia had a dramatic start to the day on Friday 27th June as the senior Shiromani Akali Dal (SAD) leader was arrested in connection with a money laundering case. The early morning operation also included a raid at his residence, where police recovered unaccounted cash worth Rs.161 crore deposited in bank accounts controlled by Majithia, Rs.141 crore channeled abroad through suspected foreign entities without disclosure or explanation in company financial statements and movable and immovable assets owned by Majithia and his family. The raid on Majithia’s home began at 6am and continued till…
New Delhi: JSW Paints, a part of the Sajjan Jindal-led JSW Group, has announced its intent to acquire a 74.76% stake in Dulux paints parent Akzo Nobel India Pvt Ltd. Akzo Nobel is a global leader in the decorative coatings and industrial paint maker headquartered in the Netherlands. Dulux paints has a 7% market share in India. After this transaction, JSW will become the fourth largest brand in the highly competitive paints sector in India. “Paints & Coatings is one of India’s fastest growing sectors and JSW Paints is amongst the fastest growing paint companies. Akzo Nobel India is home…
