Indian Oil emerges sole buyer for centre's equity in Lubrizol India
The Indian Oil Corporation (IOC) has emerged as the sole contender to buy out the centre's holding in Lubrizol India. At present, the company is a 60:40 joint venture between the government of India and Lubrizol Corporation of the US. Once the deal is finalised, both IOC and Lubrizol will hold 50% equity each in the company.
Stringent RBI measures force Lalbhais to sell Anagram Finance stake to ICICI
The much-talked about divestment plans by Sanjay Lalbhai from Anagram Finance, finally seems to have seen the light of the day with the ICICI reportedly planning to buy out the promoter's 37.20% stake in the company. Though the exact price for the takeover has yet to be finalised, the current market price of Rs 20.50 indicates the total sell-off amount would be around Rs 20 crore.
Kelkar panel suggests Air India's privatisation
The Kelkar Committee report on the revival of Air India (AI) is learnt to have suggested privatisation of the national flag carrier. The report has recommended a disinvestment of government stake in the state-run airline to less than 51 per cent.
Rallis forays into animal-health segment
The Rs 1,163-crore Rallis India, a Tata group company, has entered the animal health business as part of its strategy to offer the Indian farmer an entire package of products ranging from agrochemicals to veterinary pharmaceuticals.
JCT set to unveil fresh debt-restructuring plan
JCT Ltd will submit a fresh debt-restructuring plan within the next four weeks to the consortium of financial institutions and banks led by the Industrial Finance Corporation of India (IFCI) and Allahabad Bank. JCT Ltd joint managing director Samir Thapar said the restructuring plan would primarily depend on the amount that the company can raise from the sale of its steel division and grey-textile division.
