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Government merges BSNL and MTNL

one month ago  
Business / Blogs/ M&A Critique  
In what seems to be last attempt, government has finally decided to revive by merging the two loss-making state-owned telecom companies Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL). The two telecom companies have been bleeding and their subscriber base dwindling as competitors such as Bharti Airtel, Vodafone Idea and Reliance Jio had rolled out pan India 4-G services and cut prices on voice and data. MTNL, which is largely present in cities such as Delhi and Mumbai, will act as a unit of BSNL until the merger is completed. While MTNL is listed, BSNL is not listed. The two companies have a total debt of Rs 40,000 crore. The merger bill will be about Rs 70,000 crore which includes voluntary retirement scheme (VRS), capital infusion, goods and service tax and bond guarantee. The Centre will raise Rs 15,000 core through sovereign bonds to strengthen the two-state run telecom companies and the government will monetise telecom assets worth of Rs 38,000 crore. The ..
                 

Mangalam Timber merges with Mangalam Cement

2 months ago  
Business / Blogs/ M&A Critique  
The BK Birla group-controlled Mangalam Cement Ltd and Mangalam Timber Products Ltd have been merged to attain value of scale. The consolidation will help in efficient utilization of their resources, reduction in overheads and other expenses and improvement in other parameters. Mangalam Timber Products Limited (MTPL), a listed company primarily engaged in the manufacture of Medium Density Fibre Board (MDF) and sells its products under the brand name “DURATUFF”. MDF is used in making furniture, Particle board, Doors and all kind of carpentry all kinds of carpentry work. Mangalam Cement Limited (MCL), a listed company having registered office in Kota Rajasthan. A well-established cement manufacturing company having two cement manufacturing plants located at Morak, Rajasthan and Aligarh, Uttar Pradesh producing Ordinary Portland Cement (OPC) and Portland Pozzolana Cement (PPC) and marketed under the brand name of "Birla Uttam". MCL has also set up two Captive Thermal Power Plants of 17.5 M..
                 

Hinduja Group restructures media & communications business

2 months ago  
Business / Blogs/ M&A Critique  
The Hinduja Group via its main holding company Hinduja Ventures had originally started with the communication business and now has multiple businesses via its subsidiaries and investments. The media and communication arms have been tallying up losses for the last few years the group started to consolidate its HITS and Broadcaster and DAS services via demerger and mergers. The restructuring of its media and communication business will enable the group to expand its digital offerings in the rural market and reach of the group’s entire product portfolio to smaller towns and cities. The board of directors of Hinduja Ventures approved integration of IndusInd’s Media and Communications (IMCL – demerged company) with Hinduja Ventures. Hinduja Ventures Ltd (HVL) –is a listed public company incorporated in the year 1985 is in the business of Media & communication, Real Estate, Treasury & Investment, through its various subsidiaries and also have dark Fibre Leasing business and close to ..
                 

Infibeam Avenues takes demerger route to pursue independent growth strategies

3 months ago  
Business / Blogs/ M&A Critique  
The board of Infibeam Avenues approved demerger of E-commerce business of NSI Infinium and its Theme park & Software business into Suvidhaa and DRC Systems respectively, which will be listed at a later date. The demerger has been done by the board as a part of Infibeam’s broader business restructuring plan. These strategies will pave the way for the management of each firm to chalk out growth strategies. Infibeam Avenues Limited (IAL) is in the business of digital payments, E-commerce services, software business, e-commerce technology platforms and provides a comprehensive suite of web services spanning digital payments solutions, data centre infrastructure, software platforms, etc. The equity shares of the company are listed on BSE and NSE. Suvidhaa Infoserve Private Limited (SIPL) is a private limited company. However, for the conversion into public company resolution has been passed on August 27, 2019. SIPL engaged in the business of provide facility to make payments for a host ..
                 

Titagarh Wagons Ltd moves ahead with consolidation of three entities

3 months ago  
Business / Blogs/ M&A Critique  
TITAGARH Group is a leader in manufacturing of heavy engineering equipment, like freight wagons, railway castings – bogies and couplers. The group is operated in India and Europe through several subsidiaries and joint ventures. Titagarh Wagons Limited (TWL) is in the business of manufacturing of rail rolling stock including railway wagons, passenger coaches, steel castings of various configurations, shipbuilding, bridges and special projects for defence establishment of India and other heavy engineering equipment/ product. The Shares of the TWL are listed on NSE and BSE. The market cap of TWL is around Rs 600 crore. CIMMCO Limited (CIMMCO) a public limited company incorporated in the year 1943 under the Companies Act, 1913 under the name Texmaco (Gwalior) Limited. Thereafter the name of the company changed several times with the current name changed in the year 2010. The shares of CIMMCO are listed on NSE and BSE. The majority shares of CIMMCO (74.89%) are held by TWL. The market Cap o..