Merger with Vistara to be complete by December; Air India CEO
Vinod Kannan, CEO, Vistara, had previously informed reporters in January about his anticipation of an operational merger with Air India by mid-2025. ?The integration of approximately 7,000 employees of Vistara will begin in June, with its merger into Air India targeted to be completed by this year?s end?, said Campbell Wilson, CEO & MD, Air India. During a town hall meeting, both Wilson and Kannan addressed employees from both carriers. Wilson disclosed that 120 pilots have been seconded between the two airlines, along with approximately 60 non-flying staff from Vistara being seconded to Air..
Tata Motors to restructure NBFC arms with Tata Capital for streamlined operations
Tata Motors is strategizing a significant restructuring move, aiming to separate its vehicle financing subsidiaries under Tata Motors Finance Ltd and merge them with Tata Capital. This initiative, as insiders revealed, seeks to streamline operations and alleviate the balance sheet leverage of the automotive giant.
The proposed process involves a share-swap agreement wherein Tata Sons, the conglomerate's holding company, will offer Tata Capital shares to Tata Motors, resulting in the latter acquiring a minority stake in Tata Capital.
Tata Capital, a flagship financial services e..
Aurm Partners with TATA AIG to offer high-end safe vaults
Aurm, a Bangalore-based asset protection firm known for its secure vault services, has announced a strategic partnership with TATA AIG General Insurance, to provide comprehensive insurance coverage to Aurm customers for their entrusted valuables.
Speaking about the partnership, Mrudul Murthy, Vice President, SME, TATA AIG General Insurance said, “We are happy to partner with Aurm to offer an innovative cover to insure one’s personal assets. Coupled with renowned Aurm’s security infrastructure and technology, TATA AIG’s insurance coverage for safe vault owners will provide them..
Residents Sceptical of Sahastradhara Road Widening
Residents in Dehradun have raised questions and expressed scepticism regarding the proposed widening project for Sahastradhara Road. The project, aimed at widening the road to accommodate increased traffic, has faced criticism and scrutiny from local residents concerned about its potential impact on the environment and surrounding areas.
The Sahastradhara Road widening project has sparked debate among residents, with some questioning the necessity and feasibility of the initiative. Critics argue that widening the road may lead to the loss of trees, green spaces, and heritage structures ..
Warburg Pincus Acquires Shriram Housing Finance
Warburg Pincus, a leading global private equity firm, has announced its acquisition of Shriram Housing Finance for an impressive sum of Rs 4,630 crore. This strategic move underscores Warburg Pincus' commitment to expanding its presence in the Indian financial sector and capitalizing on the growing demand for housing finance solutions in the country.
Shriram Housing Finance, a subsidiary of Shriram City Union Finance, has established itself as a key player in the affordable housing finance segment, catering to the needs of millions of aspiring homeowners across India. The acquisition b..