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The consolidation proposal, first authorized in January, received RBI approval in March, paving the way for smooth subsidiary integration into the parent company.

L&T Finance Holdings finalizes merger of three subsidiaries into its entity

The consolidation proposal, first authorized in January, received RBI approval in March, paving the way for smooth subsidiary integration into the parent company

L&amp;T Finance Holdings successfully concluded the merger of three of its subsidiaries - L&amp;T Finance Limited, L&amp;T Infra Credit Limited, and L&amp;T Mutual Fund Trustee Limited, today, solidifying a unified lending entity. This strategic move, effective from December 4, consolidates all lending businesses under a single operational Non-Banking Financial Company (NBFC), marking a significant milestone for the organization.
In a statement released on Monday, the company highlighted that the merger establishes a streamlined 'Single Lending Entity,' positioning the entirety of its lending operations within L&amp;T Finance Holdings Ltd. This decision aligns with the company's vision for enhanced operational efficiency and growth opportunities.
The consolidation plan, initially sanctioned in January this year, garnered approval from the Reserve Bank of India (RBI) in March, setting the stage for the seamless integration of the subsidiaries into the parent company.
Dinanath Dubhashi, the Managing Director and CEO of L&amp;T Finance Holdings Ltd, expressed optimism about the merger, citing its potential to unlock new growth prospects, foster innovation, and ensure long-term success. He emphasized the move's positive impact on governance, promising sustainable value creation for all stakeholders.
Dubhashi further remarked on the timely completion of the merger, underscoring its significance within the broader strategic framework of the company. He highlighted the reduction of the number of NBFCs from eight to one over the past seven years, demonstrating a concerted effort towards achieving a streamlined and efficient corporate structure, reported Business Today.
Simultaneously, the company announced the appointment of Amresh Kumar as its Chief Risk Officer for a tenure of two years, effective from the merger's completion date. Kumar's appointment is expected to reinforce the organization's risk management framework, ensuring robust governance and compliance measures.
Also Watch: <a href="https://www.editorji.com/business-news/startups/startup-to-scaleup-focus-on-radian-finserv-that-empowers-financial-emergency-through-gold-loans-1701259980079#google_vignette">Startup to Scaleup| Focus on Radian Finserv that aims to transform the gold loans landscape</a>

National company law tribunal (NCLT) have given the go-ahead for the mega merger between HDFC and HDFC Bank. 

NCLT approves HDFC-HDFC Bank merger

National company law tribunal (NCLT) have given the go-ahead for the mega merger between HDFC and HDFC Bank.&nbsp;

The decks are cleared for the mega merger of HDFC and HDFC Bank to go ahead. The merger has been approved by the National Company Law Tribunal (NCLT).&nbsp;
The merger has already received in-principal approval from regulators including RBI, SEBI, insurance regulator IRDAI as well as shareholders and competitions commission of India. Both the stock exchanges have also given an NOC for the deal. &nbsp;
The deal, deemed the biggest merger in India's corporate history, was announced on April 4, 2022. The deal valued at around $40 billion will lead to the creation of a banking behemoth. The combined entity will have a combined asset base of around 18 lakh crore.&nbsp;
Post the merger, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank. Every HDFC shareholder will get 42 shares of HDFC Bank for every 25 shares held.
Shares of both HDFC bank and HDFC closed the day about 1.7% higher.&nbsp;

According to the report, the deal worth $1 billion, between TCS and Mark and Spencer is set to close in the coming weeks

TCS to close a deal worth $1 billion with Marks & Spencer: Report

According to the report, the deal worth $1 billion, between TCS and Mark and Spencer is set to close in the coming weeks

India's largest IT firm Tata Consultancy Services (TCS) is expected to close a deal worth $1 billion with the British food-to-clothing retailer Marks and Spencer. Though there's no official confirmation is been made by both the companies but according to a Economic Times report, the deal is set to close in the coming weeks.
TCS has been working with Marks and Spencers for over a decade, to transform the British retailer's human resource operations. The Indian IT giant has provided human resource solutions for over 80,000 employees of Marks and Spencer.&nbsp;
Marks and Spencer's plan for 3,400 new jobs
British food-to-clothing retailer Marks and Spencer on Monday announced plans for more than 3,400 new jobs thanks to store openings, following sizeable shop closures and job losses during the pandemic.
M&amp;S said in a statement that it would open 20 new large stores across the UK. It comes after the group axed 7,000 jobs as Britain suffered Covid lockdowns.&nbsp;

Vistara to merge with Air India: proposed deal by Tata & Singapore Airlines to close by 2024

Vistara to merge with Air India: proposed deal to close by 2024

The proposed deal which is expected to complete by March 2024, will make Singapore Airlines a 25.1% stakeholder in Air India.

The proposed deal which is expected to complete by March 2024, will make Singapore Airlines a 25.1% stakeholder in Air India.

In a major consolidation in the Indian aviation space, Tata group on Tuesday announced the merger of Vistara with Air India, and pursuant to the deal, Singapore Airlines will have a 25.1 per cent stake in Air India.
The proposed deal is expected to be complete by March 2024, subject to regulatory approvals.
Tata group owns a 51 per cent stake in Vistara and the rest is with Singapore Airlines (SIA).
In a release, SIA said Vistara and Air India would be merged, and it would also be investing Rs 2,058.5 crore in Air India as part of the transaction.
"This would give SIA a 25.1 per cent stake in an enlarged Air India group with a significant presence in all key market segments.
SIA said it intends to fully fund this investment with its internal cash resources, which stood at 17.5 billion Singapore dollars as of September 30.
In a separate release, Tata group said that with the consolidation, Air India would be the country's leading domestic and international carrier with a combined fleet of 218 aircraft, "making it India's largest international carrier and second largest domestic carrier".
SIA and Tata Sons have also agreed to participate in additional capital injections, if required, to fund the growth and operations of the enlarged Air India in FY2022-23 and FY2023-24. &nbsp;"Based on SIA's 25.1 per cent stake post-completion, its share of any additional capital injection could be up to Rs 50,200 million (S$ 880 million, US$ 615 million), payable only after the completion of the merger," SIA said in the release.
The actual amount will depend on factors, including the progress of the enlarged Air India's business plan, and its access to other funding options. SIA intends to fully fund any additional capital injections with its internal cash resources, it added.
Tata Sons Chairman N Chandrasekaran said the merger of Vistara and Air India is an important milestone in the journey to make Air India a truly world-class airline.
"As part of the transformation, Air India is focusing on growing both its network and fleet, revamping its customer proposition, enhancing safety, reliability and on-time performance. We are excited with the opportunity of creating a strong Air India which would offer both full-service and low-cost service across domestic and international routes," he said.
Four airlines are part of the Tata group. They are Air India, Air India Express, AirAsia India and Vistara. Tata group acquired Air India and Air India Express in January this year.
Vistara started flying in January 2015. AirAsia India was launched in 2014, while Air India Express began operations back in 2005.
In October, Vistara was the second largest carrier with a domestic market share of 9.2 per cent behind IndiGo, which had a market share of 56.7 per cent.
During the same period, the domestic market share of Air India and AirAsia India stood at 9.2 per cent and 7.6 per cent, respectively.
In terms of On-Time Performance (OTP), Air India was on top at 90.8 per cent, followed by Vistara and AirAsia India, both at 89.1 per cent.
On October 13, SIA said it was in "confidential discussions" with Tata group to explore the possible merger of Vistara and Air India.
"The discussions seek to deepen the existing partnership between SIA and Tata, and may include a potential integration of Vistara and Air India," it had said in a filing to the Singapore Stock Exchange.
SIA Chief Executive Officer Goh Choon Phong said that with this merger, SIA has an opportunity to deepen its relationship with Tata and participate directly in an exciting new growth phase in India's aviation market. &nbsp;"We will work together to support Air India's transformation, unlock its significant potential, and restore it to its position as a leading airline on the global stage," he added.
Also watch: <a href="https://www.editorji.com/business-news/tata-group-to-seal-the-bisleri-deal-here-you-need-to-know-everything-1669272745819">Tata Group to seal the Bisleri deal? Here you need to know everything</a>

It does not get bigger than this! HDFC Bank and mortgage lender HDFC. Here are the details and the mega merger. 

HDFC to merge into HDFC Bank HDFC Ltd will receive shares of HDFC Bank as per approved ratio
HDFC Ltd as of record date will get 42 shares of HDFC Bank for 25 shares held by HDFC shareholder
HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank
HDFC Limited is India’s largest housing finance company with a total AUM of Rs 5.26 lakh crore
HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35  lakh crore 
Bank has requested RBI for phased implementation of higher requirements of reserves - CRR, SLR
Lower cost of loans will be available for housing loan customers. 
HDFC will cease to exist after merger is complete 
Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)


HDFC, HDFC Bank merger: What this mega move means for shareholders, customers

Keki Mistry&nbsp;on HDFC&nbsp;&amp; HDFC&nbsp;Bank merger: See potential for 7% more room for international investors post merger in the new entity.&nbsp;

It does not get bigger than this! HDFC&nbsp;Bank and mortgage lender HDFC. Here are the details and the mega merger.&nbsp;
<ul>
<li>HDFC&nbsp;to merge into HDFC&nbsp;Bank&nbsp; HDFC&nbsp;Ltd will receive shares of HDFC&nbsp;Bank as per approved ratio</li>
<li>HDFC&nbsp;Ltd as of record date will get 42 shares of HDFC&nbsp;Bank for 25 shares held by HDFC&nbsp;shareholder</li>
<li>HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC Limited will own 41% of HDFC Bank</li>
<li>HDFC Limited is India&rsquo;s largest housing finance company with a total AUM of Rs 5.26 lakh crore</li>
<li>HDFC Bank, India's largest private sector bank by assets with market cap of Rs 8.35&nbsp; lakh crore&nbsp;</li>
<li>Bank has requested RBI&nbsp;for phased implementation of higher requirements of reserves - CRR, SLR</li>
<li>Lower cost of loans will be available for housing loan customers.&nbsp;</li>
<li>HDFC&nbsp;will cease to exist after merger is complete&nbsp;</li>
<li>Completion of Merger Process: Expected by Q2 / Q3 FY24 (December 2023)</li>
</ul>
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/sri-lanka-crisis-why-dynasty-politics-and-rajpaksas-are-being-blamed-1649048985285" target="_blank">Sri Lanka crisis: Why dynasty politics and Rajpaksas are being blamed</a>

PVR-Inox Merger Latest News: In a surprise move India's largest movie theatre chain PVR is merging with it's closest competitor Inox Liesure.The merger will be carried in a share exchange (“swap") ratio where 3 equity shares of PVR will be swapped for 10 equity shares of INOX.
PVR and INOX Leisure combined will create the largest chain of film theatres in India operating 1546 screens across 341 properties across 109 cities. Though the existing screens will not undergo any brand changes new cinemas opened post the merger will be christened PVR INOX.Pavan Kumar Jain would be appointed as the non-executive chairman, while Ajay Bijli would be appointed as the MD and Sanjeev Kumar would be appointed as the executive director.
Ajay Bijli stated, “This is a momentous occasion that brings together two companies with significantly complementary strengths. The partnership of these two brands will put consumers at the centre of its vision and deliver an unparalleled movie going experience to them. The film exhibition sector has been one of the worst impacted sectors on account of the pandemic and creating scale to achieve efficiencies is critical for the long-term survival of the business and fight the onslaught of digital OTT platforms.”

PVR - Inox Leisure: The mega merger to fight off the OTT obsession

PVR and INOX Leisure combined will create the largest chain of film theatres in India operating 1546 screens across 341 properties across 109 cities. Though the existing screens will not undergo any brand changes new cinemas opened post the merger will be christened PVR INOX.

PVR - Inox Leisure: The mega merger to fight off the binge culture 

The merger will be carried in a share exchange (&ldquo;swap") ratio where 3 equity shares of PVR will be swapped for 10 equity shares of INOX. Ajay Bijli, founder of PVR&nbsp;will remain to be MD of the new entity. The merger will however take 6-8 months to close after getting the required regulatory nods.&nbsp;
But despite the top two players merging it may not evoke or require a nod from the competition watchdog CCI&nbsp;as the&nbsp;as the combined revenues of the two companies are well below Rs 1,000 crore due to Covid-led disruptions.
With 667 screens and a market capitalisation of Rs 5,000 crore, INOX is currently the second largest multiplex chain.
PVR has a market cap of around Rs 10,000 crore and 860 screens.

The merger will be carried in a share exchange (&ldquo;swap") ratio where 3 equity shares of PVR will be swapped for 10 equity shares of INOX.

PVR&nbsp;Cinemas-Inox&nbsp;Leisure&nbsp;Merger Latest News: In a surprise move India's largest movie theatre chain PVR&nbsp;Cinemas&nbsp;is merging with it's closest competitor Inox Leisure limited.
Also watch/read&nbsp;|&nbsp;<a title="Two-day nationwide strike from today: Here are the services affected" href="https://www.editorji.com/business-news/two-day-nationwide-strike-from-today-here-are-the-services-affected-1648432995213" target="_blank">Two-day nationwide strike from today: Here are the services affected</a> The merger will be carried in a share exchange (&ldquo;swap") ratio where 3 equity shares of PVR&nbsp;Cinemas will be swapped for 10 equity shares of INOX. Also watch/read&nbsp;|&nbsp;<a title="Construction faces a crisis as prices soar, will projects be halted?" href="https://www.editorji.com/business-news/construction-faces-a-crisis-as-prices-soar-will-projects-be-halted-1648200230714" target="_blank">Construction faces a crisis as prices soar, will projects be halted?</a> &nbsp;
Pavan Kumar Jain would be appointed as the non-executive chairman, while Ajay Bijli would be appointed as the MD and Sanjeev Kumar would be appointed as the executive director. Also watch/read&nbsp;|&nbsp;<a title="Do this before March 31 else your PAN Card will become inactive" href="https://www.editorji.com/business-news/personal-finance/do-this-before-march-31-else-your-pan-card-will-become-inactive-1647865941712" target="_blank">Do this before March 31 else your PAN Card will become inactive</a>
PVR Cinemas and INOX Leisure Limited combined will create the largest chain of film theatres&nbsp;in India operating 1546 screens across 341 properties across 109 cities.&nbsp;Though the existing screens will not undergo any brand changes new cinemas opened post the merger will be christened&nbsp;PVR INOX.
Ajay Bijli stated, &ldquo;This is a momentous occasion that brings together two companies with significantly complementary strengths. The partnership of these two brands will put consumers at the centre of its vision and deliver an unparalleled movie going experience to them. The film exhibition sector has been one of the worst impacted sectors on account of the pandemic and creating scale to achieve efficiencies is critical for the long-term survival of the business and fight the onslaught of digital OTT platforms.&rdquo;

To remain in the battle of quick commerce delivery space, Online food delivery firm Zomato has entered into an all-stock merger deal with Blinkit. 
According to reports, Zomato is set to take control of Blinkit after the food aggregator extended a $150 million emergency loan facility to the quick commerce startup.
Zomato already owns a 10 percent stake in Blinkit, since August 2021, and will be filling for Competition Commission of India very soon.
Rescuing Blinkit? 
Quick commerce delivery firm Blinkit, formally known as grofers is learnt to have shuttered 50 of its dark stores across the country, resulting in hundreds from its workforce, including dark store managers, pickers and delivery workers losing their jobs. This comes as the company looks for measures to reduce its burn rate amid a cash crunch.
Quick commerce Industry
Quick commerce is the business of delivering essentials in a time frame of 10 to 20 minutes. Significant money is being poured in companies like Zepto, Swiggy Instamart, Blinkit, and lately Dunzo. Investors in these startups are betting heavily on this space because they think it’s going to be the next big thing.

Why Zomato wants Blinkit?

Zomato to acquire Blinkit? 

Here's you all need to know:

As the trend toward speedy, last-minute delivery has grown exponentially worldwide in the past years, Zomato&nbsp;has also entered in the market with the all-stock merger deal with Blinkit.&nbsp;&nbsp;
According to the report by&nbsp;Redseer,&nbsp;the quick commerce sector in India currently with a market size of $700 million is likely to grow 15x to reach $5.5 billion market value by 2025.
The quick commerce, or the business of delivering essentials in time frames of 10 to 20 minutes, has set the start-up world abuzz but how&nbsp;is this&nbsp;changing the&nbsp;consumers&rsquo; purchasing behaviour and preference?
Zomato Rescuing Blinkit?&nbsp;
India online food delivery platform Zomato&nbsp;is all set to take over instant delivery firm Blinkit&nbsp;in an all-stock deal.
Quick commerce delivery firm Blinkit, formally&nbsp;known as grofers&nbsp;is learnt to have shuttered 50 of its dark stores across the country, resulting in hundreds from its workforce, including dark store managers, pickers and delivery workers losing their jobs. This comes as the company looks for measures to reduce its burn rate amid a cash crunch.
Boom or bubble?
Over a few months now, there has been quite a disruption in the grocery delivery space with a new entrant Zepto, which operates a 10-minute grocery delivery service; Grofers rebranded as Blinkit and promising a 10-minute delivery; and Swiggy investing $700 million in its express grocery delivery service Instamart.&nbsp;
The concept is rapidly coming of age but it's unclear still whether it's a boom or bubble

The food-tech firm had also invested $100 million in Blinkit for a 10 per cent equity in July last year.
&nbsp;

As instant&nbsp;delivery&nbsp;gets quick traction worldwide, India's food delivery giant&nbsp;Zomato&nbsp;is also looking to take over&nbsp;Blinkit, earlier known as Grofers.&nbsp;
According to a report by&nbsp;Redseer,&nbsp;the quick commerce sector in India, currently with a market size of $700 million, is likely to grow 15 times in just three years to reach $5.5 billion market value.
Quick commerce, or the business of delivering essentials in time frames of 10 to 20 minutes, has set the start-up world abuzz but how&nbsp;is this&nbsp;changing the&nbsp;consumers&rsquo; purchasing behaviour and preference?
Boom or bubble?
Over a few months now, there has been quite a disruption in the grocery delivery space with a new entrant Zepto, which operates a 10-minute grocery delivery service; Grofers rebranded as Blinkit and promising a 10-minute delivery; and Swiggy investing $700 million in its express grocery delivery service Instamart.&nbsp;
The concept is rapidly coming of age but it's unclear still whether it's a boom or bubble.
Zomato's&nbsp;takeover of Blinkit&nbsp;an investment or just rescue?
Quick commerce delivery firm Blinkit, formally&nbsp;known as grofers&nbsp;is learnt to have shuttered 50 of its dark stores across the country, resulting in hundreds from its workforce, including dark store managers, pickers and delivery workers losing their jobs. This comes as the company looks for measures to reduce its burn rate amid a cash crunch.

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