Financial restructuring
PC Jeweller Gets Lifeline, SBI Accepts One-Time Settlement Offer
Companies Finance News

PC Jeweller Gets Lifeline, SBI Accepts One-Time Settlement Offer

In a major relief to PC Jeweller, State Bank of India (SBI) has accepted the One Time Settlement (OTS) proposal submitted by the company, as per the disclosure made by the company to the stock exchanges on 13 March. The terms of the out-of-court settlement (OTS) proposed by P C Jewellers include a cash and […]

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Whirlpool To Sell 24% Stake In Indian Unit For Up To $451 Mn
Companies Finance News

Whirlpool Corp Plans To Divest Up to 24% Stake In India Subsidiary To Reduce Debt

On Thursday, Whirlpool Corp revealed its plan to divest up to 24 per cent of its ownership interest in Whirlpool of India in 2024, aiming to alleviate debt levels. The company, not disclosing the deal value, assured that the sale would not impact its previously provided full-year forecast, as detailed in a filing. Whirlpool of […]

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ONGC To Acquire Controlling Stake In OPaL, Edge Out GAIL
News

ONGC To Acquire Controlling Stake In OPaL, Edge Out GAIL

The state-owned Oil and Natural Gas Corporation (ONGC) has unveiled a significant financial restructuring plan for its subsidiary, ONGC Petro-additions Ltd (OPaL), involving an infusion of approximately Rs 15,000 crore. The move is poised to reshape the ownership structure, resulting in gas utility GAIL (India) Ltd being edged out of the petrochemical firm. Presently, ONGC […]

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