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Air India Disinvestment, RCom Plea Rejected et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 8, 2018 12:18 PM 1 min read
Editorial

End of Day Wrap-up (Thursday / March 08, 2018) #TataSteel #BhushanSteel #NCLT #debt #bankruptcy #AirIndia #Rcom #BandhanBank #Uber #Trump #import #Canada #Mexico #Transfin

Editor's comment: Tata Steel closing deal to acquire Bhushan Steel as part of latter's ongoing bankruptcy proceedings. Deal will also bring relief to PNB which has a INR5,000cr exposure to Bhushan Steel.

 

Govt to invite initial bids for Air India disinvestment in a few weeks. Process to be completed by June this year as per Civil Aviation Ministry.

 

Bombay High Court dismisses RCom's plea against order which barred asset sale without prior permission. RCom currently in dispute with Swedish company Ericsson, with the latter attempting to recover its dues worth INR1,012cr. RCom's failure to repay 35 lenders may force it to enter bankruptcy via the NCLT.

 

Former Uber CEO Travis Kalanick to setup a new fund to invest in China and Indian start-ups. Fund called 10100 (pronounced 'ten-one-hundred').

 

Kolkata-based Bandhan Bank to launch biggest IPO by a local bank raising upto INR4,473cr on 15th March 2018. Issue includes 8.13% equity as primary issuance and 1.81% as secondary sale.

 

President Trump expected to sign a decree this week to impose new tariffs, excluding Canada and Mexico with whom separate negotiations under NAFTA will follow.