Apr 7, 2022By: Bhakti Makwana
A consortium led by Bandhan Financial Holdings along with private equity firm ChrysCapital and Singapore’s sovereign fund GIC will acquire IDFC AMC.
The bank has proposed to raise up to ₹50,000 crore through bonds on April 16.
The company's jewellery business slipped 4 percent year-on-year in Q4FY22 while the watches and wearables business grew 12 percent year-on-year.
The company has completed the acquisition of a 55 percent stake in CIM Tools, one of the leading suppliers in the aerospace supply chain based in Bengaluru.
Realty firm that works as Lodha brand reported 51 percent growth in its sales booking at ₹9,024 crore in FY22, which is their best annual sales ever.
The automaker has announced to proactively and voluntarily recall 19,731 units of its EECO model. The recall is being undertaken to inspect and rectify ‘incorrect marking of wheel rim size’, if any, on the wheel in some of these vehicles.
The company expects to deliver close to double-digit sales growth in Q4FY22, driven entirely by pricing. However, some of the short-term challenges such as unprecedented global commodity inflation and the performance of our Indonesia business, continued to play out during the quarter, impacting consumption and margins.
Murali Natrajan has been reappointed as managing director and CEO for 2 more years till April 28, 2024.
The company has defaulted on ₹479.68 crore loan repayment and unlisted debt securities in the quarter ended March 31, 2022.
The lender has executed a share purchase agreement to sell the entire stake of 14 percent in India SME Asset Reconstruction Company.