Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
NSE IPO values it at Rs.45,000 crore
Bankers for National Stock Exchange of India Ltd (NSE) are asking investors to sell a part of their holding in the bourse’s proposed initial share sale at a price that values it at Rs.45,000 crore, Mint reported, citing three people with direct knowledge of the matter. The valuation of NSE is around two-and-a-half times the level at which shares in the bourse last changed hands. In July, State Bank of India sold a 5% stake in NSE to Mauritius-based Veracity Investments Ltd for Rs.911 crore, valuing the exchange at Rs.18,200 crore. Read more
India Value Fund Advisors eyes services, technology deals
Private equity (PE) firm India Value Fund Advisors (IVFA) is looking to move beyond the healthcare, financial services and consumer sectors and will add technology and services companies to its investment portfolio, Mint reported, citing a top executive.
Currently, the PE firm is investing from its fifth fund, Indium V, which was raised in July 2015 with a corpus of $700 million.
The firm currently has a dry powder of $500 million from the latest fund and an additional $500 million of co-investment commitments from its limited partners. Investors in a PE fund are called limited partners. Read more
Kedaara Capital looks to invest Rs.350 crore in Vijaya Diagnostic
Home-grown private equity firm Kedaara Capital Advisors Llp is in advanced talks to buy a stake in Hyderabad-based diagnostics chain Vijaya Diagnostic Centre Pvt. Ltd for up to Rs.350 crore, Mint reported, citing people close to the development.
They have completed the due diligence. If the talks go through, the transaction will be closed in a month or two.The transaction will have both a primary and secondary share sale component. Read more
Next Orbit to invest $100 million in Gujarat-based semiconductor project
Growth-stage investor Next Orbit Ventures is investing $100 million in a semiconductor fabrication project based in Gujarat, a top executive said.
The investment is being made out of Next Orbit Ventures’s second fund, which is currently raising $750 million. The firm launched its second fund in November to invest mainly in firms that make semiconductor chips, and solar and LED components. Read more
EDF plans to invest $2 billion in Indian renewable space
France-based power company EDF is betting big in the renewable space in India with projects worth $2 billion in the pipeline, as it sees electricity tariffs falling 30% in five years, The Economic Times reported, citing EDF Energies chief executive officer Antoine Cahuzac.
The company is also looking at the nuclear energy space in the country, for which it has initial agreements with Nuclear Power Corp, but regulatory issues are still under discussion, he said. EDF also has interest in hydropower generation in India and is looking at a few prospects. Read more
BP unit to sell 8.5% stake in Castrol India
Castrol Ltd, a unit of British oil and gas major BP Plc., is divesting 8.5% equity stake in Indian subsidiary Castrol India through a block deal worth Rs.1,750 crore on Tuesday, according to a termsheet seen by Reuters.
The company will be selling the shares at between Rs.408 and Rs.422.5 apiece for up to $261 million, the termsheet showed. BP owned 59.5% of Castrol India as of the end of June through its units. In May, the two companies had undertaken a strategic portfolio review to optimise the deployment of capital across different businesses. Read more
Food ordering start-up Swiggy raises $15 million from Bessemer Venture, others
Bengaluru-based Bundl Technologies Pvt. Ltd, which owns and operates online food ordering and delivery platform Swiggy, has secured $15 million (Rs.100 crore) in a Series D funding round led by Bessemer Venture Partners.
Existing investors, which include firms such as Accel India, SAIF Partners and Norwest Venture Partners (NVP), also participated in this round. In January this year, the company had raised $35 million in C-Series from existing and new investors, including New York-based investors Harmony Partners and Singapore-based RB.
The round takes the total funds raised so far to $75.5 million. Read more
RInfra mulling to form InvIT for Metro, power transmission businesses
Anil Ambani-promoted Reliance Infrastructure is considering to float an infrastructure investment trust (InvIT) for its assets like power transmission and Metro, the Business Standard reports.
“For roads, we are clearly looking at a strategic buyer. We are also exploring InvIT for a host of infrastructure assets,” said Lalit Jalan, chief executive officer, Reliance Infrastructure. Assets like power transmission and Metro could be looked at for InvIT, he added.
RInfra’s board on Monday approved a proposal to amend the memorandum of association of the company to allow for activities related to setting up any trust, including venture capital funds, InvITs, real estate investment trusts, the company said in a statement to BSE. The company will now seek shareholders’ approval for the proposal through postal ballot. Read more