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M&A Report 2021: India | International Financial Law Review

March 16 2021 In spite of challenges posed by the global COVID-19 pandemic, geopolitical tensions in the Indian sub-continent and market uncertainties associated with the US presidential elections, Indian M&A deal activity remarkably prospered in certain respects during 2020. Deal flow crossed the $82 billion mark in aggregate deal value, representing an increase of 22.9% from 2019. However, nearly a quarter of this figure is attributable to multiple big-ticket investments made in Jio Platforms, the holding company for India s largest mobile network operator Jio and other digital businesses of the Reliance group, and there was an overall 17.1% fall in total deal-count. The second quarter of 2020, in particular, saw a significant drop in transactions.

Insolvency Law In Review – January 2021

Insolvency Law In Review – January 2021
livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.

Reliance Inds gains 6% in 2 days, hits 4-month high on O2C biz spin off

Shares of Reliance Industries Ltd (RIL) were up 4 per cent at Rs 2,150 on the BSE in intra-day trade on Thursday, having gained 6 per cent in the past two trading days after the company announced the proposal to hive off its oil-to-chemical (O2C) business into an independent unit. The stock was trading at its highest level since October 21, 2020. It had hit a record high of Rs 2,369 in September last year. RIL in a presentation on Tuesday, February 23, announced the initiation of the formal process of carving out the O2C business into a wholly-owned independent subsidiary. The management reorganised the refining and petrochemical businesses into O2C to facilitate holistic and agile decision making, pursue attractive opportunities for growth with strategic partnerships, and drive its downstream business.

RIL gets Sebi approval to hive off O2C business into independent subsidiary

Mukesh Ambani-controlled Reliance Industries Limited (RIL), which has proposed hiving off its oil to chemicals (O2C) business into an independent subsidiary, on Tuesday said it had received an approval from the Securities and Exchange Board of India (Sebi) and stock exchanges to create this subsidiary. The company now requires the approval of equity shareholders and creditors, regulatory authorities, and the income-tax authority, besides the National Company Law Tribunals (NCLTs) in Mumbai and Ahmedabad. RIL said the approval process had commenced and was expected to be completed by the second quarter of the 2021-22 financial year. In a presentation to investors on Tuesday, RIL said that the creation of this subsidiary would facilitate value creation through strategic partnerships and attract dedicated pools of investor capital. The ongoing talks with Aramco for a stake sale in RIL were also mentioned in this presentation. When finalised, the deal is expected to be one of the la

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