Gujarat is one of the states which has a large portfolio of state-owned companies including some of the listed companies. In line with the vision of the Central Government, Gujarat is also trying to monetise its stake in various entities To start with, Gujarat government has started planning to streamline the ownership of the various […] The post Composite restructuring of Gujrat Gas to streamline ownership and monetization of assets first appeared on M&A Critique ..read more

After many efforts, Sequoia Capital (Now known as Peak XV partners) are able to take a complete exit from Prataap Snacks Limited, maker of Diamond Chips. Interestingly, Sequoia’s stake has been taken over by one of the domestic institutions.  Prataap Snacks Limited (“PSL” or “Target Company”) is a snack food company. It offers multiple variants […] The post Peak XV erstwhile Sequoia India exits from Prataap Snacks first appeared on M&A Critique ..read more

After streamlining types of shares and making total paid-up capital as normal equity shares & transfer of finance business, Tata Motors Limited is now ready to execute its marque restructuring which will pave the way for the separation of passenger & commercial vehicle business. TATA MOTORS LIMITED (“TML” or “Demerged Company” or “Transferee Company”) is […] The post TATA MOTORS: SEGREGATES ITS PASSENGER & COMMERICAL VEHICLE BUSINESSES first appeared on M&A Critique ..read more

Recently, the Hon’ble Kolkata Bench of the National Company Law Tribunal (“NCLT”) rejected a scheme of Capital Reduction (“Scheme”) filed by Phillips India Limited (“PIL” or Petitioner Company”) which inter-alia provides for the compulsory exit of minority shareholders. Facts of the Case: Objections by some of the minority shareholders: Hon’ble NCLT Decision: Thus, Hon’ble NCLT […] The post SHARE CAPITAL REDUCTION sought under SECTION 66 is denied by the NCLT first appeared on M&A Critique ..read more

Adani Group, incubator of many businesses, has announced the demerger of one of its mature businesses to unlock value for stakeholders. Adani Enterprises Limited (hereinafter referred to as “Demerged Company” or “AEL”) is in the business of integrated resources management, mining services and other trading activities. AEL operates as an incubator, establishing new businesses in […] The post Yet another value-unlocking announced by Adani Enterprises Limited first appeared on M&A Critique ..read more

Recently, Valor Estate Limited (Earlier known as DB Realty Limited) announced separate listing of its “Hospitality Business” through demerger along with the amalgamation of its wholly owned subsidiary. Valor Estate Limited (“VEL” or “Demerged Company” or “Transferee Company”) is interalia engaged in: VEL’s equity shares are listed on nationwide bourses. Esteem Properties Limited (“EPL” or […] The post Valor Estate Limited: “Diversification” to “Separation” of Hospitality Business first appeared on M&A Critique ..read more

After the successful demerger of “Lifestyle Business”, Raymond Limited announced yet another restructuring to unlock further value for stakeholders. In a recent move, Raymond Limited has announced its plan to demerge its “Real Estate Business” into a separate entity which shall be listed pursuant to the demerger. Raymond Limited (“RL” or “Demerged Company”), post demerger […] The post Raymond Group continues Segregation of its Business Verticals first appeared on M&A Critique ..read more

India’s Cement Industry is poised for consolidation. In the recent past, we have seen multiple large & small acquisitions in the cement segment for consolidating positions. Moving towards the world trend, India will have dominant 3-4 companies controlling substantial cement capacity. Continuing the trend, recently, the Board of Directors of UltraTech approved the purchase of […] The post Ultratech Cements adds India Cement in its shopping cart first appeared on M&A Critique ..read more

HEG Limited (“Demerged Company” or “HEG”) is, inter alia, engaged in the business of manufacturing and exporting graphite electrodes and operates the world’s largest single-site integrated graphite electrodes plant. HEG also operates three power generation facilities with a total capacity of about 76.5 MW which are captively used by Graphite business. Apart from the above, HEG also holds 49% equity shares of Bhilwara Energy Limited which is engaged in power generation. HEG also owns 100% equity shares of TACC which is setting factory for graphite anode for lithium cells. The equity shares of ..read more

Recently, TATA Group decided to merge its two key companies engaged in the business of financing. Tata Motors Finance Limited (“TMFL” or “Transferor Company”) is a non-banking financial company operating as a non-banking financial company – Investment and Credit Company (“NBFC-ICC”). The Company is also registered with the Insurance Regulatory and Development Authority of India (“IRDAI”) as a corporate agent in terms of the Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015. TMFL is inter-alia carrying on the business of – (a) granting ..read more