US buyout fund Advent International is in advanced negotiations to pick up a controlling stake in Orra Fine Jewellery, owned by one of the country’s top diamond manufacturers and retailers, Rosy Blue Group, multiple people in the know said. The proposed deal could value Orra at Rs 1,500-1,750 crore ($174-203 million), the people said, as…
MUMBAI: ICICI Bank reported a record quarterly net profit of Rs 11,746 crore for the quarter ended September 30, marking a 14.5% increase from Rs 10,261 crore in the same period last year. Net interest income (NII) rose 9.5% to Rs 20,048 crore, compared to Rs 18,308 crore in the corresponding quarter of the previous…
MUMBAI: Yes Bank’s proposed sale to a private buyer has hit a hurdle as potential buyers seek a 51% shareholding, which is not allowed under existing rules. The development is likely to push the exit of major Indian banks that hold a majority stake in the private lender beyond the current financial year.Reports have indicated…
