BackDeals Buzz: Tata Communications to invest up to Rs160 crore in cloud business
In other news, Indiabulls Pharmaceuticals received Rs155 crore capital from Singapore based investment firm Clermont Group
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Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Baba Ramdev’s Patanjali to diversify into solar power business
Yoga guru Baba Ramdev’s Patanjali Ayurved Ltd, the consumer goods products upstart, is poised to diversify into solar power equipment manufacturing, reports Mint. Read more
HC dismisses FTIL plea, paves way for NSEL merger
The Bombay high court on Monday dismissed a plea filed by 63 Moons Technologies Ltd, formerly Financial Technologies India Ltd (FTIL), opposing a forced merger with its subsidiary National Spot Exchange Ltd (NSEL). The ruling clears way for the merger of the two entities, reports Mint. Read more
Xiaomi planning IPO at a valuation of $50 billion
Xiaomi Corp., the Chinese smartphone maker that was once the most valuable start-up in the world, is in talks with investment banks about an initial public offering (IPO) and seeking a valuation of at least $50 billion, reports Bloomberg citing people familiar with the matter. Read more
Bharti Airtel buys stake in Juggernaut Books
Bharti Airtel Ltd, India’s largest telecom service provider, on Monday said that it has acquired a strategic stake in digital publishing platform Juggernaut Books. The terms of the deal have not been disclosed, reports Mint. Read more
Kirloskar group in talks for majority stake sale in diesel generator unit
The Kirloskar group is in talks to sell a controlling stake in Kirloskar Oil Engines Ltd, its diesel generator manufacturing business, reports Mint citing two people aware of the plan. The Kirloskar group was founded in 1888 by Laxman Rao Kirloskar and currently clocks over $3.5 billion in revenue. Read more
ADIA buys minority stake in KKR India Financial Services
The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, has acquired a minority stake in KKR India Financial Services Pvt. Ltd (KIFS), KKR said on Monday, reported Mint. Read more
Hines to invest $23 million in Tata Housing project
Hines, a global real estate investment and management firm with $100 billion in assets under management, will invest $23 million in Tata Housing Development Co. Ltd’s premium wellness-themed project Serein at Thane, Maharashtra, reported Mint. Read more
Mojostar in talks to raise $10 million in series A funding
Mojostar, a newly formed joint venture between celebrity management firm KWAN Entertainment and brand management and licensing agency Dream Theatre, is in talks with venture capital and private equity firms to raise $10 million (about Rs64 crore) in Series A funding, reports The Economic Times. Read more
Indiabulls Pharma receives Rs155 crore investment from Clermont Group
Indiabulls Pharmaceuticals, a one year old pharma venture of Indiabulls Group Companies, on Monday announced that it has received Rs155 crore capital from Singapore based investment firm Clermont Group, reported The Economic Times. Read more
Tata Communications to invest up to Rs160 crore in cloud business
Tata Communications, the telecom unit of Tata Sons which looks into enterprise, cloud and security solutions, has earmarked a capital expenditure (capex) of $20-25 million (Rs130-160 crore) for its overall cloud business for the coming calendar year, reports The Economic Times. Read more
Shalby IPO opens today, Rs150 crore raised from anchor investors
Shalby Ltd, which runs a multi-speciality hospital chain, on Monday said it has raised approximately Rs150 crore by selling shares to institutional investors as part of its anchor book allocation, a day before its initial public offering (IPO) opens, reports Mint. Read more
Bank of Maharashtra launches share sale to raise $47 million
State-run Bank of Maharashtra has launched a share sale to institutions to raise around Rs300 crore ($47 million) to boost its capital ratios, reports Reuters citing three sources with direct knowledge of the matter on Monday. Read more
With IRDAI’s PE norms, insurers can have professional promoters
Two former CEOs of insurance companies—Rajesh Relan (ex-CEO of PNB MetLife) and P. Nandgopal (ex-CEO of both IndiaFirst and Reliance Life)—are turning health insurance entrepreneurs. The Insurance Regulatory and Development Authority’s (IRDAI’s) decision to permit private equity (PE) funding, as against strategic investors, in insurance has paved the way for professional promoters, reported The Times of India. Read more
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