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Vedanta sweetens merger plan for Cairn shareholders

TEAM VCC

A year after London-listed mines and energy company Vedanta Resources Plc moved to merge cash rich oil unit Cairn India Ltd with its flagship but debt heavy Indian arm Vedanta Ltd (formerly Sesa Sterlite), it has now proposed to tweak the plan.

ONGC Videsh raises $1 bn to finance Russian oil field deal

Rounak Kumar Gunjan

State-run ONGC Videsh Ltd (OVL) raised $1 billion from the international market to refinance its acquisition of a 15% equity stake in Russia’s JSC Vankorneft.

Lenders to take over Diamond Power, look for investor

Bruhadeeswaran R

Diamond Power Infrastructure Ltd said on Friday its board has approved a debt recast plan that will give its creditors a stake of at least 51% in the company.

L&T Technology Services files for IPO

Ranjani Raghavan

Larsen & Toubro Ltd said on Friday its engineering research and development unit has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering.

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