Suven Life Sciences secures product patents
IDBI Bank’s plans to sell stake in Insurance JV may hit roadblock
Federal Bank in talks to acquire Madura Microfinance
Dena Bank over 3% after lender decides to sell non-core assets
Tata Group said to be exploring options to merge all food businesses into one entity
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Suven Life Sciences Ltd (Suven) announces that the grant of one product patent from India, one product patent from Singapore, one product patent from South Korea and one product patent from Israel corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2031, 2034, 2034 and 2036 respectively.
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| CapitalStars Investment Adviser |
IDBI Bank’s plans to sell stake in Insurance JV may hit roadblock
Beleaguered public sector lender IDBI Bank can no longer sell its stake in its JV IDBI-Federal Life Insurance whilst LIC buys a stake in the troubled entity, as per a media report.
LIC coming on board as a major financial investor has reportedly spoiled the pitch for prospective bidders. The report added that most bidders, except Aditya Birla Capital, have already pulled out. Further, it is alleged that the process may also be scrapped.
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| CapitalStars Investment Adviser |
Federal Bank in talks to acquire Madura Microfinance
Media report suggests that Federal Bank is in talks to acquire Madura Microfinance for about Rs720-750cr. The deal is expected to be partly in share-swap, and partly in cash for the micro lender backed by private equity firm, Elevar Equity Mauritius. The Chennai-based MFI, promoted by non-resident neuro scientist Tara Thiagarajan, has a loan portfolio of Rs1,200cr.
The acquisition will give Federal Bank a 250-plus rural and semi-urban branch network in Tamil Nadu, Maharashtra, Karnataka, Kerala, Bihar and Odisha.
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| CapitalStars Investment Adviser |
Dena Bank over 3% after lender decides to sell non-core assets
Dena Bank’s stock rose over 3% after the public sector lender decided to sell a total of 60.5 lakh shares in three entities -- NSDL E-governance Infrastructure, NSDL, and SIDBI -- in a move to break away from its non-core assets.In a BSE filing, the Mumbai-headquartered bank stated that it will sell 6.25 lakh equity shares of Rs10 each in NSDL E-Governance Infrastructure, 6.25 lakh equity shares of Rs10 each in NSDL, and 48 lakh shares of Rs10 each in SIDBI.
The bank added that it is floating a “Request for Quotation” (RFQ) for the purchase of the aforesaid equity shares.
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| CapitalStars Investment Adviser |
Tata Group said to be exploring options to merge all food businesses into one entity
Tata Group is mulling options to integrate its food and beverage businesses into a single company, as per a Bloomberg report. The group is considering separating the salt and branded lentils businesses of Tata Chemicals Ltd. and merge them into Tata Global Beverages Ltd. (TGBL). Merging of Tata Coffee with the beverages company and entry into the dairy business is also being weighed, as per the media reports.
Tata Group is said to be exploring these options to combine related businesses under a single company to increase efficiency and simplify the conglomerate since quite some time now. Similar reports had surfaced in 2017 but nothing had materialized.
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