UK-based Prudential plc will acquire a majority 75 per cent stake in Bharti Life Insurance for Rs 3,500 crore from Bharti Life Ventures Pvt Ltd and 360 ONE Asset Management. Currently, Prudential is a partner with ICICI Bank, holding around a 22 per cent stake in the life insurance venture. With the announcement of a majority stake in Bharti Life Insurance, Prudential has to pare back its stake in the existing venture to comply with regulatory requirements.
DIPAM clears MCL listing proposal
The Department of Investment and Public Asset Management (DIPAM) has approved the proposal to list Mahanadi Coalfields (MCL), a subsidiary of Coal India, through a combination of a fresh equity issuance and CIL’s disinvestment via an offer for sale (OFS). Coal India may disinvest its stake in MCL through an Offer for Sale (OFS) of existing shares as part of MCL’s IPO and subsequently in one or more tranches. MCL may raise capital through fresh issue of equity shares as part of the IPO and/or through subsequent FPO(s), QIP(s), or other SEBI-approved methods.
RBL Bank receives approvals for Emirates NBD investment
RBL Bank has said it has obtained regulatory and governmental approvals for the proposed strategic investment of nearly $3 billion (₹26,850 crore) by Emirates NBD, paving the way for completion of the transaction. The transaction, which was first announced on October 18, 2025, involves primary infusion of about $3 billion by Emirates NBD in RBL Bank and is one of the largest international investments in the Indian banking sector, the bank said in a statement. Emirates NBD will subscribe to up to 959,045,636 fully paid equity shares of RBL Bank at ₹280 per share through a preferential issue.
PFC and REC boards approve merger proposal
The boards of Power Finance Corporation and REC Ltd met separately and decided to move ahead with the proposal to merge the two entities. According to the disclosures, REC would be merged into PFC under sections 230-232 of the Companies Act, 2013. Once the merger becomes effective, all assets and liabilities of REC will be transferred to PFC, and the former will cease to exist as a separate entity. The Union Government had announced the merger in the Union Budget, with both boards granting in-principle approval on February 6.
Hindustan Copper eyes Chile mining opportunities
Hindustan Copper Ltd (HCL) on Friday said it has hired a transaction advisor to support its entry into Chile’s copper belt and to scout acquisition prospects. In a filing to BSE, Hindustan Copper said that “the company has executed a non-disclosure and Confidentiality Agreement (NDA) with CODELCO (Corporacion Nacional Del Cobre De Chile) and engaged a Transaction Advisor for entering the Chilean Mining sector and further acquisition.”
Adani Ports expands maritime footprint in South America
Adani Ports and Special Economic Zone has announced a strategic move to strengthen its maritime operations in South America by acquiring a majority stake in Argentina-based Meridian Transportes Marítimos S.A. According to the company’s regulatory filing, The Adani Harbour International FZCO (TAHID), a step-down subsidiary of Adani Ports, has signed a Share Purchase Agreement on May 15, 2026, to acquire a 51% stake in Meridian Transportes Marítimos S.A. from Logistica y Servicios Maritimos S.A. and Simpo S.A. The deal aims to establish a joint venture to provide nautical and maritime services in Argentina. The acquisition aligns with Adani Ports’ long-term strategy to expand its maritime footprint across South America.
HFCL, Uno Minda announce expansion plans
Hindustan Copper Ltd has hired a transaction advisor to support its entry into Chile’s copper belt and to scout acquisition prospects. In a filing to BSE, Hindustan Copper said that “the company has executed a non-disclosure and Confidentiality Agreement (NDA) with CODELCO (Corporacion Nacional Del Cobre De Chile) and engaged a Transaction Advisor for entering the Chilean Mining sector and further acquisition.”.
HFCL has bagged an order worth $11.07 million (about Rs 106 crore) for the supply of optical fibre cables overseas. The company has to complete the supplies by August 2026.
Uno Minda has said it will set up a greenfield manufacturing facility for electric four-wheeler powertrains at Chhatrapati Sambhajinagar (erstwhile Aurangabad) in Maharashtra, with an investment of Rs 550 crore. The company said it has already secured its board’s approval for the new facility, which is expected to be commissioned in the second quarter of FY28, and has established it through its subsidiary, Uno Minda Auto Innovations Pvt Ltd.
Pharma companies report regulatory and product developments
Dr Reddy’s Laboratories has launched its generic version of Semaglutide injection used in the treatment of type 2 diabetes in Canada. The company is among the first firms to introduce a generic Semaglutide injection in the Canadian market, following the Notice of Compliance (NOC) received from Health Canada on April 28, 2026, Dr Reddy’s said in a statement.
CuraTeQ Biologics, a wholly owned subsidiary of Aurobindo Pharma, has said that the Central Drugs Standard Control Organisation (CDSCO) has granted Marketing Authorisation under Form CT 23 for Bevqolva, a bevacizumab biosimilar indicated for metastatic carcinoma of the colon or rectum. The authorisation permits manufacture at CuraTeQ’s facility in Hyderabad and marketing of Bevqolva in 100 mg/4mL and 400 mg/16 mL vial presentations.
The United States Food and Drug Administration (USFDA) has concluded a current Good Manufacturing Practices (cGMP) inspection at Emcure Pharmaceuticals’ formulations facility located at G.I.D.C., Sanand, Ahmedabad, Gujarat. The inspection was conducted from May 06, 2026, to May 15. At the conclusion of the inspection, the company was issued a Form 483 with 7 observations. The observations are procedural in nature.
OneSource Specialty Pharma Limited has received approval from the Government of Karnataka for its Unit II expansion project under the Karnataka Industrial Policy (KIP) 2025–30, covering incentives and concessions. The approval follows the 67th State High-Level Clearance Committee meeting held on April 13, 2026. Unit II, the company’s flagship facility at Obadenahalli, KIADB Industrial Area, Bengaluru Rural District, is set to expand its manufacturing capacity to serve global partners.