Today’s top morning headlines - 15th September 2023

Good morning,

Markets opened in the green today, with NIFTY50 trading near 20,150 level as of 12:30 pm. Here are the top stories to start your day!

:star: Zee-Sony merger faces legal hurdles
The National Company Law Tribunal (NCLT) approved the merger on 10-Aug, and dismissed the objections raised by IDBI. After IDBI, now Axis Finance has appealed to the National Company Law Appellate Tribunal (NCLAT) against the NCLT order.

:star: Mahindra Holidays to invest ₹1,000 crore in new resorts
Club Mahindra Resorts, a brand of Mahindra Holidays, plans to invest ₹1,000 crore in building new resorts in Uttarakhand. The company has entered into an MoU with the state government to set up and operate its properties in the Himalayan region.

:star: Kalrock-Jalan plans to take control of Jet Airways by year end
The Kalrock-Jalan consortium of investors aims to take over the bankrupt Jet Airways by the end of the year. The NCLT has approved its bid of ₹350 crore to revive the airline, which has been under insolvency since 2019.

:star: Yatra Online IPO opens today
The ₹775 crore IPO Yatra Online, a travel and ticket booking services provider, will be open from 15 to 20 September 2023. The price band is fixed at ₹135-142 per share and lot size is 105 shares. Click here (link) to apply for this IPO on Upstox.

:star: GMM Pfaduler to acquire Canada-based MixPro
The industrial chemicals maker is planning to acquire 100% stake in Professional Mixing Equipment Inc. (MixPro) for $7mn, which will be funded through internal accruals. The chemical mixing industry has a market size of $3bn and is expected to grow by 25%.