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Tata Consumer Products completes merger of three wholly-owned subsidiaries in India
YourStory
·
11m ago
Medial
Tata Consumer Products Ltd (TCPL), an FMCG maker, has merged three of its wholly-owned subsidiaries after receiving approval from NCLT and other regulatory clearances. The subsidiaries include Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd. The consolidation aims to streamline the business and unlock efficiencies and synergies. There will be no changes in the operating structure of these units, and they will continue to focus on millet-based products, ready-to-drink products, and ready-to-cook/ready-to-eat products. TCPL's product portfolio includes tea, coffee, water, spices, snacks, and more.
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Tata Steel shareholders meet today; to consider merger with Indian Steel & Wire
Livemint
·
1y ago
Medial
Tata Steel will hold a shareholders' meeting to discuss the merger with its subsidiary Indian Steel and Wire Products. The meeting, to be conducted through audio-visual means, will consider and approve the scheme, as directed by the National Company Law Tribunal (NCLT). The merger plan includes the amalgamation of six additional subsidiaries, aiming to unlock shareholder value and improve operational efficiencies. The CEO of Tata Steel expects the merger to be completed in the current financial year, subject to regulatory clearances.
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Zomato Blinkit, Hyperpure's auditor resigns, Deloitte takes charge
Inshorts
·
1y ago
Medial
Zomato on Sunday said Batliboi & Associates, the auditor of its subsidiaries Hyperpure and Blinkit, has resigned. It added the food tech platform's auditor Deloitte Haskins & Sells has been appointed in its place. Batliboi & Associates had been appointed as statutory auditor of the two wholly-owned subsidiaries for five years beginning April 1, 2023.
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Reliance to acquire snacking brand TagZ Foods for ₹28 crore
Inc42
·
8m ago
Medial
Reliance Consumer Products, a wholly owned subsidiary of Reliance Retail, is reportedly acquiring D2C snacking startup TagZ Foods for ₹28 crore. TagZ has raised a total funding of about $3.2 million across multiple funding rounds till date. Sources had earlier claimed that the brand had stopped production due to mounting losses.
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Unicommerce completes 100% acquisition of Shipway
Entrackr
·
4m ago
Medial
Unicommerce completes 100% acquisition of Shipway E-commerce SaaS company Unicommerce has approved the 100% acquisition of Shipway. The Ace Vector owned company had acquired over 42% stake in the shipping solution firm late last year. According to a preferential issue filing, Unicommerce eSolutions will issue 60,33,189 equity shares to acquire 7,610 equity shares of Shipway from its shareholders Vikas Garg, Gaurav Gupta, and Puneet Gupta through a share swap approved by SEBI. Earlier in November last year, Unicommerce acquired a 42.7% stake in Shipway for Rs 68.4 crore to expand its product suite. Shipway will become its wholly owned subsidiary after the proposed acquisition. Founded in 2015 by Gaurav Gupta and Vikas Garg, Shipway provides post-purchase automation solutions for D2C brands. In 2021, IndiaMART InterMESH acquired a 26% stake in the company for Rs 18.2 crore. Unicommerce collaborates with India’s leading brands, marketplaces, and logistics providers to enable end-to-end management of e-commerce operations. Beyond India, it also has a presence in the Middle East and SEA. Unicommerce, which went public in August last year, reported revenue of Rs 29.3 crore in Q2 FY25, with a profit after tax of Rs 4.4 crore.
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Aditya Birla Finance to merge with parent in 12 months
Thehindubusinessline
·
1y ago
Medial
Aditya Birla Capital has announced the merger of its wholly-owned subsidiary, Aditya Birla Finance, to create a unified operating non-banking financial company (NBFC). The merger is expected to be completed within the next 9-12 months and will consolidate the business and entities, simplify the group structure, enhance financial stability, and align business plans. Aditya Birla Capital will convert from a holding company to an operating NBFC after the merger, with the equity investment in Aditya Birla Finance being cancelled. The merger is in line with RBI's scale-based regulations and is subject to regulatory approvals.
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Tata Steel acquires 179 crore shares in Singapore subsidiary T Steel Holdings for Rs 1,562.54 cr
Economic Times
·
1m ago
Medial
Tata Steel Limited has acquired 179.10 crore shares in its Singapore-based subsidiary, T Steel Holdings Pte. Ltd., for approximately Rs 1,562.54 crore ($180 million). These shares have a face value of USD 0.1005 each. This acquisition is part of Tata Steel's plan to infuse up to $2.5 billion into the subsidiary during the financial year 2025-26, as previously disclosed. The subsidiary remains wholly owned by Tata Steel after this capital infusion.
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Tatas to enter red-hot quick commerce space with ‘Neu Flash’
Economic Times
·
9m ago
Medial
Tata Group's ecommerce venture Neu is set to enter the quick commerce segment with Neu Flash, offering ultra-fast delivery for grocery, electronics, and fashion products. This move comes as consumer demand continues to rise in metro areas. Neu Flash will be powered by partners like BigBasket for groceries, Croma for electronics, and Tata Cliq for fashion and lifestyle products. Quick commerce is disrupting the retail industry, with players like Zomato-owned Blinkit, Swiggy Instamart, and Zepto leading the market. Tata Digital aims to tap into the online shopping trend while being cautious about heavy spending on consumer incentives.
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SYN Ventures, LDV Partners to take control of Tata Communications unit
VCCircle
·
3m ago
Medial
SYN Ventures and LDV Partners, US-based venture capital firms, are set to acquire a majority stake in NetFoundry Inc., previously a wholly-owned subsidiary of Tata Communications. This acquisition, approved by NetFoundry's board, will reduce Tata Communications' stake from 100% to 11.49%. Both VC firms specialize in various tech sectors, aiming to bolster innovation and growth. NetFoundry, initially a Tata spin-off, focuses on secure networking solutions and was part of Tata's Shape the Future initiative.
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India's antitrust body approves Vistara merger with Air India
Reuters
·
1y ago
Medial
India's antitrust body has given approval to the merger of Air India, owned by the Tata group, and sister airline Vistara, subject to compliance with voluntary commitments. This decision raises concerns about a duopoly in the industry, with the merged Air India-Vistara and IndiGo controlling over 75% of the domestic market. The merger aims to create a stronger competitor to take on rivals like IndiGo and Middle Eastern carriers. The Competition Commission of India (CCI) had previously flagged concerns about potential monopolies on certain routes and in business class travel.
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NCLT clears Yatra Online’s amalgamation scheme involving six subsidiaries
Economic Times
·
28d ago
Medial
Yatra Online Ltd announced the approval of an amalgamation scheme by the National Company Law Tribunal (NCLT), Mumbai Bench, involving its six wholly-owned subsidiaries. The merged entities, including Yatra TG Stays and Yatra Hotel Solutions, aim to streamline operations and enhance efficiency. The companies must issue notices to various regulatory bodies and have 30 days to address any objections. The next hearing is set for August 2025.
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