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Vedanta Limited: Delisting of Shares
Sanjay DhamijaCase IVEY-9B20N042-EFinanceOn May 12, 2020, Vedanta Resources Limited, representing the London, United Kingdom company Vedanta Group, expressed its intention to buy all public shares of its Indian subsidiary Vedanta Limited and to delist it from all stock exchanges in India and New York. The chair of Vedanta Group explained that the decision to delist was largely driven by a strategy to simplify the group structure. The indicative offer price of ₹87.5 per equity share repr...Starting at €8.20
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ExtraCarbon: Working for a Cleaner Future
Rakesh Gupta; Lubna Nafees; Saumyajit GuhaCase IVEY-9B20M044-EEntrepreneurship, StrategyExtraCarbon was a company focused on the sorting stage of India’s unorganized waste management industry. The company was founded in 2013 with owners’ capital and some investments from friends and family. In October 2018, one of these friend investors expressed a desire to exit the venture. Although ExtraCarbon had made steady progress since its founding, the company did not have enough money to buy out the investor’s stake, and the company’s valu...Starting at €8.20
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Pharmeasy: Expansion Dilemma Amidst Regulatory Uncertainties
Rakesh Gupta; Lubna NafeesCase IVEY-9B20M090-EEntrepreneurship, StrategyThe two co-founders of PharmEasy, an online medical store and pharmacy website launched in 2015, faced a new challenge in December 2018. Recent judgments by the Madras and Delhi High Courts had suspended the operations of India’s more than 250 online pharStarting at €8.20
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PVR Limited: CSR, Being Inclusive, Spreading Smiles
Sanjay DhamijaCase IVEY-9B20M094-EStrategyPVR Limited (PVR), the largest premium film exhibition company in India, with more than 750 screens, launched its Accessible Cinema Program in December 2018. Supported by its top management, PVR developed a culture of social responsibility that went beyonStarting at €8.20
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Asahi India Glass Limited: Leverage, A Double-edged Sword
Sanjay Dhamija; David J. SharpCase IVEY-9B15N018-EEntrepreneurship, Finance, StrategyAsahi India Glass Limited faces a situation encountered by many growing companies after having funded its diversification from retained earnings and debt, both in rupees and foreign currency. An over-reliance on borrowed funds without a matching infusion of equity has plunged the company into losses. To reduce its need for financial leverage, the company has issued equity shares on a rights basis, which has helped but is insufficient to reduce it...Starting at €8.20
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Apollo Tyres India: Sustaining an Organic Growth
Lubna Nafees; Akshay Kumar; Kaushik DattaCase IVEY-9B15M070-EStrategyThe chairman of one of India’s leading tire manufacturers must devise a strategy to maintain his company’s significant position in the tire industry. To date, the company has generated most of its revenues from sales in India, and it has become a leading player in the Indian commercial vehicle segment. With an overall slowdown in the manufacturing sector, the commercial vehicle segment has been hard-hit. The passenger car segment, however, is exp...Starting at €8.20
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Taco Bell: A Mexican-Inspired Restaurant in India
Lubna Nafees; Akshay Kumar; Ashok Bajpai; Anoop Chand; Maryne Ann James; Bonney Luke Thomas; Jayakrishnan B. Nair; Kunal Hazari; Garima KondaCase IVEY-9B14A058-EMarketing, StrategyWith four outlets of Taco Bell opened in Bangalore, India by December 2013, the managing director of Yum! Restaurants India, the parent company, felt eager to expand. The company took pride in providing the best Mexican-inspired fast food at a low price iStarting at €8.20
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Mindtree Limited: Defending Against a Hostile Takeover
Sanjay DhamijaCase IVEY-9B20N004-EEntrepreneurship, Finance, StrategyMindtree Limited (Mindtree) was promoted by a group of first generation entrepreneurs and had established itself as a successful digital business company. Larsen & Toubro Limited (L&T), a successful conglomerate primarily in the business domains of construction and engineering, was looking to increase its footprint in information technology services. In 2019, L&T acquired more than 20 per cent stake in Mindtree and sought to increase its stake to...Starting at €8.20
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Reliance Industries Limited: Accounting for Other Comprehensive Income
Sanjay DhamijaExercise IVEY-9B20B009-EAccounting and Control, StrategyIn its annual report for the financial year (FY) 2018/19, Reliance Industries Limited reported an unprecedented ₹596.74 billion as other comprehensive income (OCI). The OCI affected the statement of profit and loss (P&L), the balance sheet, and the statemStarting at €8.20
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Power Finance Corporation Limited: How to Benefit from Synergies
Shikha Bhatia; Sanjay DhamijaCase IVEY-9B20N010-EFinanceThe chairman and managing director of Power Finance Corporation Limited (PFC) acquired REC Limited (REC), which was also engaged in the business of financing power sector projects. Both companies were in the public sector, with the Government of India holding the majority stake. The chairman and managing director must determine the next course of action for the two firms in order to achieve the maximum level of synergy.Starting at €8.20