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Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275...

Adani Group unit Renew Exim DMCC has announced a definitive agreement to acquire a 46.64 percent equity stake in ITD Cementation India Ltd from Italian-Thai Development Public Company Ltd (ITD) for about Rs 3,204 crore, at Rs 400 per share. The transaction is set to boost Adani’s civil engineering capabilities as it scales up in sectors such as airports, highways, and metro projects. This acquisition comes alongside an open offer by Renew Exim to acquire an additional 26 percent stake in ITD Cementation from public shareholders at Rs 571.68 per share, amounting to Rs 2,553 crore if fully subscribed. The...

The Centre has proposed doing away with the requirement of a licence for selling antiques within the country in its draft Antiquities Bill. The move, a relief to art dealers, will free up movement of artefacts in the country. The proposal was made to the government by the Archaeological Survey of India (ASI). The current draft comes 32 years after the government first began the process of amending the Antiquities and Art Treasures Act, 1972. The draft Antiquities and Art Treasures Regulation, Export and Import Bill, 2017 says that every licence issued under the 1972 Act will stand repealed once...