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

China’s Didi Chuxing may invest in Oyo Rooms

Didi Chuxing, China’s largest cab-hailing app Didi Chuxing may invest in Indian startup Oyo Rooms, in what would be the ride-hailing giant’s second bet on an Indian startup after Ola, The Times of India reported. The proposed investment is likely to be channelled into Oyo’s China business that started in November last year. Mint had in June reported that Oyo is starting operations in 26 Chinese cities. Oyo was reported to be early talks to raise $800 million in fresh funding. The current funding will value the domestic unit at $4.5 billion while the Chinese operations will be valued at around $1.2 billion. (read more)

Everstone Capital to offload 20% stake in Burger King India

Five years after setting up the franchise for Burger King in India, home-grown private equity firm Everstone Capital will offload a minority stake in the quick service restaurant (QSR), The Economic Times reported. Everstone, which holds about 88% of Burger King India, will offload 20% stake, valuing the fast-food chain at $300-350 million. Mint in had May that Everstone was exploring a Burger King IPO to raise growth capital.

F&B Asia Ventures, a pan-Asian food and beverage business platform controlled by Everstone, owns and operates Burger King-branded restaurants in India and Indonesia. Everstone joined hands with US fast-food chain Burger King Worldwide Inc. in 2013 to set up the franchise for the two countries. (read more)

Udaan raises $225 million at billion-dollar valuation

Udaan, a business-to-business e-commerce portal, has raised $225 million from Russian billionaire Yuri Milner’s DST Global and LIghtspeed Ventures at a valuation of $1 billion, making it the fastest Indian start-up to achieve the unicorn status. Mint had in February that Udaan had raised $50 million from the same investors to add new sellers and buyers, expand its logistics network, hire more engineers and sales executives and launch new services like lending. This will be DST Global’s second big Indian bet this year after Swiggy. Its other Indian investments include Flipkart, which was recently acquired by Walmart recently acquired 77% of, and Ola Cabs. (read more)

Byju’s to raise funds at over $2 billion valuation

Online tutoring start-up Byju’s is in advanced talks with at least two new investors—private equity firm General Atlantic and Singapore government-owned Temasek Holdings—to raise $200-300 million, Mint reported, citing three people directly aware of the development. If it goes through, this will value Byju’s at $2.2-2.4 billion, the people said. Mint had in July first reported that Byju, run by Byju Raveendran, is looking to raise $150-200 million at a valuation of about $1.8 billion.

The move to a online education platform has been lucrative for the company. In June, Byju’s said that it touched 100 crore in monthly revenue and raised its annual revenue target for this year to 1,400 crore. (read more)

Kissht looking to raise $50 million from Eduardo Saverin, others

Facebook co-founder Eduardo Saverin’s venture capital firm, B Capital Group, is in advanced talks to lead a Series C round of funding in digital lender Kissht, Mint reported today. Kissht is a consumer credit startup, which allows consumers to pay for their online orders in monthly instalments, without a credit card. Saverin’s venture B Capital raised $360 million for its first fund in February. The firm, which is backed by The Boston Consulting Group, invests in technology startups in sectors such as healthcare, financial services and insurance. (read more)

Vedanta Resources to complete LSE delisting by month-end

Vedanta Resources Plc will delist from the London Stock Exchange (LSE) by the end of the month, its group chairman Anil Agarwal told Business Standard in an interview. Vedanta Resources is the holding company of Vedanta Ltd with 51% stake.

Vedanta Ltd is one of the largest diversified natural resources firms in the world having presence in crude oil, power, copper, aluminium, zinc, lead, and iron ore. Vedanta will invest $8 billion in the next 3 years across businesses, PTI reported. In July, Agarwal announced his plans to delist the flagship firm Vedanta Resources from the London Stock Exchange after buying out 33.5% of non-promoter shareholders for about $1 billion. (read more)

HPCL may invest 1,000 crore in Mangaluru LPG cavern

State-run oil marketing company Hindustan Petroleum Corp. Ltd (HPCL) is planning to build an underground liquefied petroleum gas (LPG) storage facility in Mangaluru, Karnataka, Mint reported today. It may set up the facility with France’s Total SA, or may venture alone, said HPCL CMD M.K. Surana. Total SA operates in the lubricants and LPG segments in India. Last week, it sold its 26% stake in the Hazira LNG terminal in Gujarat to Shell Gas BV, a subsidiary of Royal Dutch Shell Plc, Mint reported. According to a senior HPCL executive, the growing demand for LPG in India is prompting the company to finalise the contours of a new cavern. (read more)

TCS frontrunner to for Britain’s $3.5 billion Network Rail contract

Indian majors are preparing to bid for the biggest ever information technology (IT) management contract in Britain, valued around $3.5 billion. The mutli-year deal, likely to be decided next year, will be floated by Network Rail, a state-owned entity which manages that country’s railway network.

Tata Consultancy Services Ltd (TCS) has an edge over others: it has had a long relationship with Network Rail and has a large presence in Britain and the rest of Europe, Business Standard reported. The Mumbai-headquartered company has been working with Network Rail for five years, managing its IT infrastructure. HCL Technologies Ltd and Wipro Ltdare in the running as well. (read more)

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