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News on Medial
Hinduja Tech completes acquisition of TECOSIM Group
Economic Times
·
7m ago
Medial
Hinduja Tech Ltd, a mobility-focused global engineering company and subsidiary of Ashok Leyland, has acquired engineering services provider TECOSIM Group from Germany. The acquisition aims to enhance Hinduja Tech's position as a top global mobility engineering company and strengthen its presence in Europe. TECOSIM's expertise in virtual validation and body engineering will complement Hinduja Tech's existing capabilities, allowing the company to offer a comprehensive range of solutions. With over 650 employees across multiple countries, TECOSIM's acquisition will contribute to Hinduja Tech's goal of delivering innovative and sustainable mobility solutions.
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PE investor Creador picks up minority stake in Hinduja Tech
VCCircle
·
1y ago
Medial
Hinduja Tech, the digital engineering arm of Hinduja Group, has sold a minority stake to Creador, a South and Southeast Asia-focused private equity firm. Creador will invest $50 million for a 19.6% stake in Hinduja Tech, valuing the company at approximately $255 million. Hinduja Tech plans to use the capital to pursue new opportunities in the sustainable mobility engineering sector and expand its global presence. In the fiscal year 2023, the company's operating revenue grew by nearly 54% to Rs 393 crore.
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Lenders refuse to extend RCap resolution deadline as Hindujas delay repayment
Livemint
·
1y ago
Medial
Lenders have declined the Hinduja Group's request to extend the repayment deadline for Reliance Capital's dues. The lenders suspect a deliberate attempt to delay the resolution plan implementation. The deadline remains set for May 27th. The Hinduja Group cited regulatory and legal clearances as reasons behind the delay in making full payment for the acquisition. However, the lenders are not willing to extend the deadline and have expressed concerns about the group's intentions. The resolution plan implementation is subject to necessary approvals from statutory, regulatory, and judicial bodies.
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The Good Glamm Group Completes Acquisition Of The Moms Co
Inc42
·
7m ago
Medial
The Good Glamm Group, a content-to-commerce unicorn, has completed the 100% acquisition of The Moms Co, a direct-to-consumer mom and baby care brand. This acquisition comes after the company's recent completion of the Sirona transaction and increased shareholding in other portfolio brands like Organic Harvest and Winkl.
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Nuvoco Vistas completes Rs 1800 cr Vadraj cement acquistion
Economic Times
·
21d ago
Medial
Nuvoco Vistas Corp, part of Nirma Group, completed the Rs 1,800 crore acquisition of Vadraj Cement, a debt-ridden company, by settling lender dues. The payment enabled Punjab National Bank and Union Bank of India to write back provisions this quarter. This acquisition boosts Nuvoco Vistas’ cement capacity by over 20% to approximately 31 million tonnes per annum (MTPA). Previously, Nuvoco Vistas acquired Lafarge Cement and Emami Cement, further expanding its market presence.
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ACC completes acquisition of Asian Concretes and Cements
Livemint
·
1y ago
Medial
ACC Ltd, a subsidiary of Ambuja Cement Ltd owned by Adani, has acquired the remaining 55% stake in Asian Concretes and Cements Private Ltd (ACCPL) for ₹425.96 crore ($57 million). The acquisition was funded internally and brings ACC's ownership of ACCPL to 100%. This acquisition raises ACC's total cement production capacity to 38.55 MTPA and increases the Adani Group's overall capacity to 77.40 MTPA. The group aims to expand this capacity to 106 MTPA by FY26. ACCPL operates a cement plant in Himachal Pradesh and a subsidiary in Punjab.
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Creador to acquire 19.6% in Hinduja Tech for $50 mn
Livemint
·
1y ago
Medial
Private equity firm Creador is investing $50 million to acquire a 19.6% stake in Hinduja Tech, a global engineering R&D services company focused on mobility. This investment values Hinduja Tech at $255 million post-money. The funds will be utilized to expand research and development capabilities, enhance the company's global presence, and expand its labs. Creador, which focuses on investments in South and Southeast Asia, believes Hinduja Tech's expertise in engineering, powertrain, and electronics positions it well for future mobility solutions.
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Barclays to anchor Hinduja's ₹4,300 crore bond for Reliance Capital acquisition
Livemint
·
9m ago
Medial
The Hinduja Group is making progress in its bid to acquire Reliance Capital as Barclays Capital leads the second tranche of a high-yield rupee bond offering. The group plans to raise around ₹4,300 crore ($515m) to fund the acquisition, which has faced regulatory and financial challenges. Barclays is underwriting ₹1,500 crore of the bond, with the remainder taken by wealth manager 360One. Barclays and other expected participants, including Allianz, Bank of America, JP Morgan, PAG, Varde and Standard Chartered, are likely to subscribe to the bond issue over the next few weeks.
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HCLTech completes acquisition of HPE assets for $225 million
Economic Times
·
7m ago
Medial
Indian IT services provider, HCLTech, has completed the acquisition of select assets of Communications Technology Group from Hewlett Packard Enterprise (HPE) for $225 million. This acquisition will strengthen HCLTech's engineering services capabilities, expand their global footprint, and extend their partnership with HPE. HCLTech will absorb around 1,500 engineering specialists and 700 contractors and gain a portfolio of service offerings, including industry-leading IP, solutions, and systems integration. HCLTech aims to enhance their partnerships with global Communication Service Providers, accelerate growth in digital services, and deliver value to clients.
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Targeting $50 bn valuation for IIHL's BFSI portfolio by 2030; hopeful of quick IRDAI nod for RCap buyout: Ashok Hinduja
Money Control
·
1y ago
Medial
IIHL Chairman Ashok Hinduja has revealed plans to expand the firm's para banking portfolio, targeting a valuation of $50 billion by 2030. IIHL recently acquired a majority stake in Invesco AMC’s India arm and is the promoter of IndusInd Bank. Hinduja also mentioned that IIHL is open to further acquisitions both within and outside India. The company is currently awaiting approvals for the acquisition of Reliance Capital. Hinduja is hopeful that approval will be granted by the insurance sector regulator in the coming weeks. IIHL is also planning to increase its stake in IndusInd Bank, pending regulatory approvals.
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RCap resolution: NCLAT seeks Hinduja’s reply on lenders’ plea to forfeit equity | Mint
Livemint
·
10m ago
Medial
The National Company Law Appellate Tribunal (NCLAT) has issued notice to IndusInd International Holdings Ltd (IIHL), a Hinduja Group company, regarding a plea filed by lenders of Reliance Capital seeking forfeiture of ₹2,750 crore of equity if IIHL fails to implement the resolution plan. The lenders are also seeking interest payment on the debt component of ₹7,300 crore. The matter will be heard on 30th September. The lenders have been at odds with Hinduja Group over the implementation of the plan, which involves IIHL taking over Reliance Capital for ₹9,861 crore.
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