Adani Group is planning to sell its ten-year-old shadow bank, Adani Capital, and three private equity firms are preparing to make their best bids for the NBFC. Three firms namely, Bain Capital, Carlyle Group, Cerberus Capital Management will make their binding bids in the coming weeks for Adani Capital, as per reports. The billionaire businessman is planning to exit from the non-core business sector to focus fully on the company’s niche areas. Also Gautam Adani has raised $1.38 billion from stock sales in three group firms, bringing the total amount raised over the past four years to USD 9 billion as the conglomerate attracts interest from a variety of investors.
Zee promoters may move SC after SAT rebuff
Punit Goenka and Subhash Chandra, promoters of Zee Entertainment Enterprises Ltd, are expected to move the Supreme Court challenging the Securities Appellate Tribunal (SAT) order on Monday that dismissed their appeal over a ban by Sebi on holding board positions in publicly listed companies. In a 12 June order, Sebi had barred the father-son duo from boardrooms of listed companies over allegations of fund diversion. If the promoters fail to obtain relief from the Supreme Court, it could very well lead to the departure of India’s first family of satellite television from the industry. The decision again puts a question mark over the Sony-Zee deal.
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