Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Aurobindo launches $1.6 billion bid to buy Novartis generics unit

Aurobindo Pharma Ltd has submitted an initial bid to buy Novartis AG’s dermatology generics drug business for about $1.6 billion, reports Mint citing sources aware of the matter. Read more

In November, Bloomberg reported, Novartis is considering a sale of its dermatology generics drugs business under the Sandoz brand as it seeks to sell some of its less profitable businesses.

Temasek plans to acquire stake in Pine Labs in $400 million deal

Singapore government-owned sovereign fund Temasek Holdings Pvt. Ltd plans to acquire a significant minority stake in digital payments platform Pine Labs for $350-400 million, reports Mint, citing people familiar with the matter. Read more

Pine Labs, which provides digital point of sale (PoS) solutions to merchants, had raised $82 million in an investment round led by Actis Capital along with Altimeter Capital in March, valuing the company at $800 million.

Carlyle-backed Delhivery looks to hire investment bankers for potential share sale

Logistics services provider Delhivery has started work on a potential initial public offering, reports Mint citing sources. The Carlyle Group-backed company provides express logistics services in over 1,200 cities in India and operates several fulfilment centres for B2C and B2B fulfilment services. Read more

Cthe report said Carlyle acquired a significant stake in Delhivery in a $100 million investment round in March 2017. The round also saw participation from Delhivery’s existing investor Tiger Global. An Economic Times report said the deal valued Delhivery at $700 million.

TPG-Manipal combine sweetens offer further, to infuse Rs2,100 crore into Fortis

TPG-backed Manipal Hospital revised its offer to acquire Fortis Healthcare again on Sunday, promising to infuse Rs2,100 crore at Rs160 per share, against an earlier proposal of Rs1,800 crore, Mint reports. Read more

In a regulatory filing on Sunday, Manipal offered to subscribe to Rs2,100 crore worth of shares of Fortis via a preferential allotment at Rs160 apiece, for “liquidity needs" like repaying existing loans and to meet working capital requirements.

Patanjali makes highest bid for broke Ruchi Soya

Baba Ramdev-led Patanjali Ayurved is said to have made the highest offer for the debt-ridden edible oil and soya foods maker Ruchi Soya Industries that is undergoing bankruptcy process, reports The Economic Times citing multiple sources. Read more

The report said Patanjali Ayurved has made a bid of Rs4,000-4,500 crore for Ruchi Soya, beating Adani Wilmar, Godrej Agrovet and Emami’s offers. Adani Wilmar has made the second highest offer for Ruchi Soya, it said.

ShareChat valuation may hit $400 million in new round

We-Chat owner Tencent, South African media firm Naspers, investment firms DST Global, Hillhouse Capital and Morningside Ventures, US-based e-commerce giant Amazon and Chinese online media players Toutiao and Kwai, among others, are in talks to invest in regional language social platform ShareChat, reports ET citing sources. Read more

Run by Mohalla Tech Pvt. Ltd, the company has raised $18.2 million in a Series B funding round led by Chinese smartphone maker Xiaomi Singapore and Shun Wei Capital, Mint reported in January. Read more

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