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Vodafone Idea board to meet today and decide on ₹2,000 crore fundraise

Vodafone Idea is planning to raise ₹2,000 crore to clear its debts with Indus Towers, which will also likely help the telco get more debt-funding from lenders

Vodafone Idea said it will use the remaining proceeds towards a new issue of equity shares after the board decides the terms of capital(Reuters)

business

Published on Dec 09, 2024 08:16 AM IST

ByHT News Desk | Edited by Abhyjith K. Ashokan

‘My ancestors embraced the idea of trusteeship’: KM Birla at HTLS

KM Birla said that nothing significant can be achieved by taking shortcuts.

KM Birla, the chairman of the Aditya Birla Group, at the Hindustan Times Leadership Summit.

india news

Updated on Nov 16, 2024 06:00 PM IST

ByHT News Desk

‘Trump positively inclined towards India’, says Kumar Mangalam Birla

Aditya Birla Group announced an investment of $50 million in a manufacturing and research and development (R&D) centre in Texas in June

Chairperson of the Aditya Birla Group Kumar Mangalam Birla.(Reuters)

business

Published on Nov 10, 2024 10:32 PM IST

ByHT News Desk

Birla Estates formally acquires Hindalco’s Kalwa factory plot

Birla Estates' arm buys Hindalco's 24.5-acre Kalwa factory for ₹537.42 crore, enhancing its presence in Mumbai's real estate market.

cities

Updated on Sep 13, 2024 08:26 AM IST

ByAteeq Shaikh

Call of beauty: Why it’s Aditi Rao Hydari’s time to shine

Aditi Rao Hydari is beautiful. But lately, the chatter has shifted to her work on screen. It’s about time. After all, she’s been preparing for it her whole life

After Heeramandi, the spotlight has shifted to Aditi Rao Hydari and her work.

lifestyle

Updated on Aug 02, 2024 04:51 PM IST

ByKarishma Kuenzang

Birla's UltraTech buys stake in India Cements to compete with Adani Group

UltraTech buys an India Cement stake as cement makers may benefit from PM Narendra Modi's third term, with infrastructure spending expected to increase.

A man cleans an Expert Testing Van of UltraTech Cement outside a cement store in Ahmedabad. (Amit Dave/Reuters)

business

Published on Jun 27, 2024 03:27 PM IST

ByHT News Desk | Edited by Abhyjith K. Ashokan

Indian billionaire investor Kumar Mangalam Birla to build Texas chemical plant

Billionaire Kumar Mangalam Birla is investing $50 million to build a new chemical plant in Texas, United States.

Aditya Birla styles itself as the largest Indian investor in the US, with more than $15 billion in assets in the country.(YouTube/@IIT Bombay Official Channel)

world news

Published on Jun 26, 2024 06:48 PM IST

Bloomberg |

Fundraise of ₹18,000 cr fresh lease of life for Vi; firm to make smart comeback: Kumar Mangalam Birla

Fundraise of <span class='webrupee'>₹</span>18,000 cr fresh lease of life for Vi; firm to make smart comeback: Kumar Mangalam Birla

business

Updated on Apr 25, 2024 05:55 PM IST

PTI |

Vodafone Idea to raise ₹2075 crore from Aditya Birla Group, gets board nod

The telecom operator will hold an extraordinary general meeting (EGM) on May 8 to seek shareholders' approval.

Vodafone Idea board has approved issuance of up to 1,395,427,034 equity shares to Oriana Investments, an entity of the Aditya Birla Group (Representational Image)

business

Published on Apr 07, 2024 07:54 AM IST

ByHT News Desk, New Delhi

Aditya Birla Fashion to demerge Madura business into separate listed entity

The ABFRL board at its meeting held on Monday authorised the management of the company to evaluate the vertical demerger of Madura Fashion & Lifestyle business.

business

Published on Apr 01, 2024 10:02 PM IST

PTI |

UltraTech to buy Kesoram's cement firm in mega-deal worth ₹5.4k crore

India's leading industrial firm UltraTech is set to take over Kesoram Industries' cement business in a massive deal worth ₹5,400 crore.

business

Published on Nov 30, 2023 10:25 PM IST

ByVaishnawi Sinha

Carmichael Road bungalow sold for ₹220 crore

The land parcel, along with the ground plus 2 storey bungalow, belonged to the Estate of Ernie Khardshedji Dubash. The deed of transfer between five will executors of the estate and Sushil Agarwal, one of the two directors of BGH Properties Ltd, was registered on April 10, according to registration documents accessed and shared by Zapkey.com.

Mumbai: A view of Sunny Ville, at Tardeo, in Mumbai on Saturday, 22 March 2023. (Photo by Bhushan Koyande)

cities

Updated on Apr 22, 2023 11:47 PM IST

BySatish Nandgaonkar

Aditya Birla Sun Life AMC IPO to open today; sets price band at ₹695-712/share

It was decided to allot 1,10,80,800 shares to anchor investors at ₹712 apiece, valuing the aggregate transaction at ₹788.95 crore, according to a circular uploaded on the BSE website.

Aditya Birla Sun Life AMC on Tuesday said it has collected <span class='webrupee'>₹</span>789 crore from anchor investors ahead of its initial share sale.

business

Published on Sep 29, 2021 06:37 AM IST

Written by Susmita Pakrasi | Edited by Amit Chaturvedi, Hindustan Times, New Delhi

Birla offers to hand over Vi stake to govt

The telco chairman expressed the group’s inability to fund the company any further

On July 26, Mint reported that Vodafone Idea’s controlling shareholders, UK’s Vodafone Group Plc and India’s Aditya Birla Group, were open to ceding control of the company if a strategic investor wants to take over.

business

Published on Aug 03, 2021 05:24 AM IST

ByDeborshi Chaki, Mumbai

Voda Group, Aditya Birla may dilute their stake in Voda Idea

Vodafone Idea’s UK parent owns a 45% stake in the company, and the Indian promoter group, which includes Kumar Mangalam Birla and Aditya Birla Group firms, holds a 26% stake.

The Supreme Court’s Friday verdict may make fundraising an uphill task for Vodafone Idea.(File photo)

business

Updated on Jul 26, 2021 04:56 AM IST

ByAnirudh Laskar, Hindustan Times, New Delhi

Flipkart fashions new front in Amazon fight

Both Flipkart and Amazon are buying minority stakes in offline multi-brand retailers to strengthen their presence in the brick-and-mortar segment, where foreign investment is restricted to 49%.

Flipkart, which also operates India’s largest online fashion marketplace Myntra, will work closely with Aditya Birla Fashion, for sales and distribution of its brands.(File Photo)

business

Published on Oct 24, 2020 06:06 AM IST

Hindustan Times, New Delhi/Bengaluru | BySuneera Tandon and Tarush Bhalla

Growth will recover to up to 8% next fiscal, says KM Birla

Kumar Mangalam Birla said that most economies are likely to shrink this year. The nationwide lockdown had a more severe impact in urban India and on services that thrive on people’s mobility.

Kumar Mangalam Birla said that most economies are likely to shrink this year.(HT Photo)

business

Updated on Aug 13, 2020 06:06 AM IST

Hindustan Times, Mumbai | ByTanya Thomas

Supreme Court rejects plea by telecom companies to review AGR judgement

The matter pertained to the Department of Telecom (DoT) claiming that telecom companies had under reported their revenues.

The Supreme Court ruling has led to <span class='webrupee'>₹</span>92,000 crore penalty on telecom companies(Amal KS/HT Photo)

india news

Updated on Jan 16, 2020 05:43 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

News updates from Hindustan Times: I do not run away from responsibilities, says PM Modi at HTLS 2019 and all the latest news at this hour

Here are today’s top news, analysis and opinion curated for you at this hour. Know all about the latest news and other news updates from Hindustan Times.

PM Modi at the Hindustan Times Leadership Summit, Dec 6, 2019.(Photo: Raj K Raj/ Hindustan Times)

india news

Updated on Dec 06, 2019 01:26 PM IST

Hindustan Times, New Delhi | ByHT Correspondent

Kumar Mangalam Birla, a top-notch industry man with a passion to educate

Birla is deeply engaged with educational institutions. He is the Chancellor of the Birla Institute of Technology & Science (BITS), which has campuses in Pilani, Goa, Hyderabad and Dubai.

An alumnus of the London Business School, Kumar Mangalam Birla became chairman of the Aditya Birla Group at 28.(HT Photo)

india news

Published on Nov 24, 2019 03:58 AM IST

New Delhi | ByHT Correspondent

Malavika’s Mumbaistan: High-Powered Attendance

As alluded to last week, the imminent, high-powered dinner for the VVIP political dignitary in Bangkok to be held over the weekend, had been none other than the one hosted by Kumar Mangalam Birla, chairman of the Aditya Birla Group, for PM Narendra Modi, following the ceremony held earlier that day, to mark the golden jubilee of the group’s presence in Thailand.

PM Narendra Modi with musician and philanthropist Ananya Birla(PHOTO: ANANYA BIRLA/INSTAGRAM)

cities

Updated on Nov 06, 2019 12:55 AM IST

Hindustan Times | ByMalavika Sangghvi, Mumbai

Best time to invest in India: Narendra Modi tells investors in Bangok, explains why

Prime Minister said India was welcoming the business community with open arms by making continuous structural improvements aimed to increase ease of doing business

PM Modi invited investments in India in Bangkok at the Aditya Birla Group’s golden jubilee celebrations(ANI Photo)

india news

Updated on Jul 17, 2020 02:43 AM IST

Hindustan Times, New Delhi | ByHT Correspondent

Hindalco says committed to Aleris acquisition despite US lawsuit

US Justice Department has filed a lawsuit aimed at stopping Novelis Inc’s proposed $2.6 billion purchase of Aleris Corp, said a media report. Novelis is simultaneously fending off an anti-trust challenge in the European Union.

Novelis Inc., the US-based subsidiary of the Aditya Birla group’s Hindalco Industries.(Photo: Mint)

business

Updated on Sep 05, 2019 12:40 PM IST

Live Mint, Mumbai | ByTanya Thomas

Cashflo raises $3.3 million in Series A funding

Cashflo caters to SMEs in more than 30 cities. Cashflo is creating India’s largest digital marketplace for invoice discounting to solve for the day-to-day cash flow problems faced by small businesses.

Cashflo is creating India’s largest digital marketplace.(Hemant Mishra/Mint)

business

Updated on Sep 04, 2019 01:38 PM IST

livemint | ByNandita Mathur

Amazon nears deal for up to 10% of India’s second-largest retailer

Amazon has been acquiring tiny stakes in other Indian brick-and-mortar chains such as Shoppers Stop Ltd. and a grocery chain from the Aditya Birla Group in the past couple of years.

The proposed investment in Future Retail will enable Amazon to tap into India’s rising demand for household products and home delivered fresh produce and vegetables.(Reuters Photo)

business

Updated on Aug 13, 2019 08:02 PM IST

Bloomberg | BySaritha Rai, Ari Altstedter and P R Sanjai

Vodafone Idea in talks to sell mobile tower stake, optical fibre assets for ₹20,000 crore

The country’s largest telecom operator plans to use the funds for lowering its debt, which stood at ₹1,23,660 crore at the end of 2018.

Vodafone Idea is likely to mop up about <span class='webrupee'>₹</span>20,000 crore from its proposed stake sale in mobile tower firm Indus Tower.(REUTERS)

business

Updated on Feb 17, 2019 07:20 PM IST

New Delhi | ByPress Trust of India

Vodafone plans $3.5 billion war chest to fight Mukesh Ambani

Vodafone Group Plc will contribute as much as 110 billion rupees, while India’s Aditya Birla Group will pump in as much as 72.5 billion rupees, according to a statement on Wednesday.

The plan underscores how Indian carriers have yet to figure out how to compete against billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd.(REUTERS)

business

Updated on Jan 24, 2019 01:48 PM IST

ByBloomberg

Government plans to rope in professionals for Air India top positions through global search process

Currently, the national carrier -- which is staying afloat on taxpayers’ money -- has nine members on the board, including two officials from the civil aviation ministry.

The government plans to rope in professionals for top positions at Air India through a global search process.(REUTERS)

india news

Updated on Dec 31, 2018 12:49 PM IST

New Delhi | ByPress Trust of India

Idea-Vodafone merger approved, some formalities pending: Telecom minister

Vodafone will own 45.1% stake in the combined entity, while Kumar Mangalam Birla-led Aditya Birla Group will hold 26% and Idea, 28.9%.

here have been industry speculations that Idea Cellular and Vodafone may challenge in court the demand of <span class='webrupee'>₹</span>3,976 crore for one time spectrum charge of Vodafone India, and joint bank guarantee of <span class='webrupee'>₹</span>3,342 crore sought by DoT before it grants final approval for the merger.(REUTERS File Photo)

business

Updated on Nov 02, 2019 12:50 AM IST

Press Trust of India, Mumbai | ByPress Trust of India

Aditya Birla Group in talks to raise $1 billion for Idea Cellular

Promoters of Idea Cellular will sell stake to private equity firms to raise $1 billion, part of which will be used to settle dues arising from the Vodafone-Idea merger.

In January, Aditya Birla group had said that it would invest Rs3,250 crore in Idea Cellular to strengthen its balance sheet.(Reuters File Photo)

business

Published on Apr 17, 2018 01:03 PM IST

Livemint, Mumbai | ByDeborshi Chaki

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aditya birla group news

Latest from aditya birla group

Vodafone Idea is planning to raise ₹2,000 crore to clear its debts with Indus Towers, which will also likely help the telco get more debt-funding from lenders

KM Birla said that nothing significant can be achieved by taking shortcuts.

Aditya Birla Group announced an investment of $50 million in a manufacturing and research and development (R&D) centre in Texas in June

Birla Estates' arm buys Hindalco's 24.5-acre Kalwa factory for ₹537.42 crore, enhancing its presence in Mumbai's real estate market.

Aditi Rao Hydari is beautiful. But lately, the chatter has shifted to her work on screen. It’s about time. After all, she’s been preparing for it her whole life

UltraTech buys an India Cement stake as cement makers may benefit from PM Narendra Modi's third term, with infrastructure spending expected to increase.

Billionaire Kumar Mangalam Birla is investing $50 million to build a new chemical plant in Texas, United States.

Fundraise of ₹18,000 cr fresh lease of life for Vi; firm to make smart comeback: Kumar Mangalam Birla

The telecom operator will hold an extraordinary general meeting (EGM) on May 8 to seek shareholders' approval.

The ABFRL board at its meeting held on Monday authorised the management of the company to evaluate the vertical demerger of Madura Fashion & Lifestyle business.

India's leading industrial firm UltraTech is set to take over Kesoram Industries' cement business in a massive deal worth ₹5,400 crore.

It was decided to allot 1,10,80,800 shares to anchor investors at ₹712 apiece, valuing the aggregate transaction at ₹788.95 crore, according to a circular uploaded on the BSE website.

The telco chairman expressed the group’s inability to fund the company any further

Vodafone Idea’s UK parent owns a 45% stake in the company, and the Indian promoter group, which includes Kumar Mangalam Birla and Aditya Birla Group firms, holds a 26% stake.

Both Flipkart and Amazon are buying minority stakes in offline multi-brand retailers to strengthen their presence in the brick-and-mortar segment, where foreign investment is restricted to 49%.

Kumar Mangalam Birla said that most economies are likely to shrink this year. The nationwide lockdown had a more severe impact in urban India and on services that thrive on people’s mobility.

The matter pertained to the Department of Telecom (DoT) claiming that telecom companies had under reported their revenues.

Here are today’s top news, analysis and opinion curated for you at this hour. Know all about the latest news and other news updates from Hindustan Times.

Birla is deeply engaged with educational institutions. He is the Chancellor of the Birla Institute of Technology & Science (BITS), which has campuses in Pilani, Goa, Hyderabad and Dubai.

Prime Minister said India was welcoming the business community with open arms by making continuous structural improvements aimed to increase ease of doing business

US Justice Department has filed a lawsuit aimed at stopping Novelis Inc’s proposed $2.6 billion purchase of Aleris Corp, said a media report. Novelis is simultaneously fending off an anti-trust challenge in the European Union.

Cashflo caters to SMEs in more than 30 cities. Cashflo is creating India’s largest digital marketplace for invoice discounting to solve for the day-to-day cash flow problems faced by small businesses.

Amazon has been acquiring tiny stakes in other Indian brick-and-mortar chains such as Shoppers Stop Ltd. and a grocery chain from the Aditya Birla Group in the past couple of years.

The country’s largest telecom operator plans to use the funds for lowering its debt, which stood at ₹1,23,660 crore at the end of 2018.

Vodafone Group Plc will contribute as much as 110 billion rupees, while India’s Aditya Birla Group will pump in as much as 72.5 billion rupees, according to a statement on Wednesday.

Currently, the national carrier -- which is staying afloat on taxpayers’ money -- has nine members on the board, including two officials from the civil aviation ministry.

Vodafone will own 45.1% stake in the combined entity, while Kumar Mangalam Birla-led Aditya Birla Group will hold 26% and Idea, 28.9%.

Promoters of Idea Cellular will sell stake to private equity firms to raise $1 billion, part of which will be used to settle dues arising from the Vodafone-Idea merger.

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