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February 17th’ 2018: Fairfax to buy 51% in Catholic Syrian Bank

Fairfax to buy 51% in Catholic Syrian Bank

February 17th’ 2018: Fairfax buys Catholic Syrian Bank for Rs 1,180 crore

Fairfax buys Catholic Syrian Bank for Rs 1,180 crore

KOCHI: India-born Canadian billionaire Prem Watsa has acquired majority shareholding in Thrissur-headquartered Catholic Syrian Bank (CSB), at a cost of Rs 1,180 crore.
The bank announced the proposal of Fairfax India, part of Watsa’s Fairfax Financial Holdings, after its director board meeting in Thrissur on Saturday.

The bank currently has just above eight crore shares and post-duplication, it will be doubled, said bank’s chairman TS Anantharaman

 

KOCHI: India-born Canadian billionaire Prem Watsa has acquired majority shareholding in Thrissur-headquartered Catholic Syrian Bank (CSB), at a cost of Rs 1,180 crore.
The bank announced the proposal of Fairfax India, part of Watsa’s Fairfax Financial Holdings, after its director board meeting in Thrissur on Saturday.

The bank currently has just above eight crore shares and post-duplication, it will be doubled, said bank’s chairman TS Anantharaman

 

https://timesofindia.indiatimes.com/city/kochi/fairfax-buys-catholic-syrian-bank-for-rs-1180-crore/articleshow/62966187.cms

February 14th’ 2018: Indofil Industries: Fostering trust, transparency and togetherness

Indofil Industries: Fostering trust, transparency and togetherness

It’s the three Ts: transparency, togetherness and trust, that Indofil Industries Ltd thrives on. A chemicals company promoted by the KK Modi Group, Indofil Industries believes that encouraging and fostering a work environment that inspires employees to achieve their highest potential can reap enormous benefits.

No wonder then that the company has found a place in the top 10 list of best workplaces in manufacturing by Great Place to Work Institute.

The five-decade-old Indofil Industries believes that transparency builds confidence, which is critical for long-term success; togetherness ensures team work and lowers chances of committing errors, and trust ensures that everyone is committed towards a common goal. These principles, the firm says, have helped it foster harmony among employees, which in turn has helped in developing a culture that prioritizes people above everything else.

“We execute current assessment versus industry, best-in -class assessment, and also collect internal and external inputs to establish best practices. Through pulse/diagnostic surveys, we try to capture employee expectations and reinvent, design and implement best-in-class practices,” said Avinash Deolekar, executive vice-president (people strategy).

With operations in India and abroad, Indofil is an important contender in the agricultural chemicals, and specialty and performance chemicals segment.

The firm ended the last fiscal year with a net profit of Rs163.29 crore on total income of Rs1,644.3 crore. In the next two years, it aims to achieve a valuation of a billion dollars.

 

http://www.livemint.com/Industry/y3rhPNZ3MuzsojoM0drPOJ/Indofil-Industries-Fostering-trust-transparency-and-togeth.html

February 5th 2018: Singapore Telecom to invest Rs2,649 crore in Bharti Telecom

Singapore Telecom to invest Rs2,649 crore in Bharti Telecom:

Singapore Telecommunications Ltd (Singtel) will indirectly raise its stake in Bharti Airtel Ltd by investing Rs2,649 crore in Bharti Telecom Ltd, the promoter company of Airtel, through a preferential allotment of shares.

The investment comes within two years of Singtel’s participation in Bharti Telecom’s rights issue of Rs2,500 crore, which was completed in February 2016, Bharti Airtel said in a statement on Monday.

With the latest round of investment, Singtel’s total stake (along with its affiliates) in Bharti Telecom will increase to 48.9% from 47.17% currently, the statement said. The Mittal family owned Bharti Enterprises continues to hold over 50% stake in Bharti Telecom.

The transaction is subject to approval by shareholders of Bharti Telecom and the funds raised will be used towards debt reduction, the company said.

“The transaction is sentimentally positive for Airtel. It is a sign of confidence by Singtel in Airtel,” a Mumbai-based analyst said on the condition of anonymity.

For more details, kindly click on the following link:

http://www.livemint.com/Industry/5IsNsIPvMVtqGb5PJwRd4I/Singtel-to-invest-Rs2649-crore-in-Bharti-Telecom.html

February 4th 2018: Sterlite Power to invest $10 bn in transmission lines in four years

Sterlite Power to invest $10 bn in transmission lines in four years:

Sterlite Power, which last bought out its overseas PE investor from the transmission arm, looks to invest about USD 10 billion over the next three-four years to expand business in both domestic and overseas markets.

The company had acquired the 28.4 per cent stake that Standard Chartered Private Equity (SCPE) held in its transmission business for Rs 1,010 crore, thus owning 100 per cent stake.

The SCPE exited the company with over 100 per cent premium on its Rs 500 crore investment in made 2014.
“There is immense scope in the transmission business, especially after government opened up the sector to private players.

“Besides, there is huge opportunity in the international market and we expect to have projects worth USD 10 billion under management over the next three-four years,” Sterlite Power Group chief executive Pratik Agarwal told PTI over the weekend.

For more details, please click on the following link:

https://economictimes.indiatimes.com/industry/energy/power/sterlite-power-to-invest-10-bn-in-transmission-lines-in-four-years/articleshow/62775815.cms

 

 

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