Reliance Jio gets NCLT approval

Good morning!

Here are the top stories to start your day.

⭐ Reliance Jio gets NCLT approval 

The National Company Law Tribunal (NCLT) has given its nod to Reliance Jio to acquire Reliance Infratel, which owns the tower and fibre assets of Reliance Communications (RCOM). The NCLT has asked Jio to deposit ₹3,720 crore to complete the acquisition. Reliance Infratel is holding company of RCOM that has fibre assets of around 1.78 lakh route kilometres and 43,540 mobile towers across the country.

⭐Adani open offer set to begin

Adani Group's open offer to acquire an additional stake of 26% in New Delhi Television (NDTV) is all set to begin from 22 November. The price band of ₹294 per equity share has been fixed, taking the total size of the offer to ₹493 crore. The open offer will close on 5 December.

⭐ Good times expected  for Food service industry

The Indian food service market is expected to reach $79.6 billion by 2028 from the present market size of $41.1 billion, growing at a CAGR of 11.1%. An industry report that was released on Monday says that the quick service restaurants (QSR) category alone could grow at a 9% CAGR and reach a market size of $1069million by 2027. By 2025, the sector could employ about 1 crore persons. 

Global markets (at 7:30 AM today)

Fact of the day

The ongoing FIFA World Cup is the first ever to be played in an Arab nation as well as first to be played in the Winter season to avoid extreme heat. 

Source: Moneycontrol