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

Bira eyeing $30 million funding from private equity firms

B9 Beverages Pvt Ltd, the maker of popular beer Bira91, is close to raising $30 million (Rs200 crore) from private equity funds, reports Mint, citing two people familiar with the development. Read more

NCLT allows hotel buyout without haircut to lenders

In a landmark order that will cheer lenders pursuing recovery of dues under IBC (Insolvency and Bankruptcy Code), the principal bench of NCLT (National Company Law Tribunal) New Delhi has allowed the acquisition of a Rajasthan-based hotel, which is facing insolvency, by a non-banking finance company (NBFC) without haircuts to creditors, reports The Times of India. Read more

Avaada Power in talks to raise Rs1,500 crore in structured credit

Avaada Power Pvt. Ltd, a renewable energy company started by a co-founder of Welspun Renewable Energy Pvt Ltd, is looking to raise as much as Rs1,500 crore in structured credit as it looks to build out its renewable energy portfolio and strengthen its engineering, procurement and construction (EPC) business, reports Mint, citing two people aware of the company’s discussions with potential investors. Read more

Devi Seafoods planning Rs1,000 crore IPO in 2018

Devi Seafoods Ltd, one of the largest seafood exporters from India, is in the process of hiring investment banks for a planned initial public offering, reports Mint, citing three people aware of the development. Read more

Concorde Group sells its Cuppa cafe chain to Vijay Sreedhar, Visakh Viswambharan

Real estate developer Concorde Group has sold its Cuppa chain of cafes to Bengaluru-based entrepreneurs Vijay Sreedhar and Visakh Viswambharan for an undisclosed amount, reports Mint. Read more

Early-stage venture capital investments in India plunge to 3-year low in 2017

Early-stage venture capital investments in India plunged to a three-year low this year, a situation that could trigger alarm bells across the startup ecosystem even as overall risk-capital participation touched new highs, reports The Economic Times. Read more

Telcos must invest more in security: Reliance Jio executive Brijesh Datta

Indian telecom operators must make more investments in ensuring that security is built into all of their products, especially in the 5G environment, Reliance Jio’s chief information security officer Brijesh Datta told The Economic Times. Read more

Rising NPAs in education loan add to banks’ stress

Education loans, too, have started bleeding the banking sector with the default in repayment rising to 7.67% of the outstanding amount at March-end 2017 from 5.7% two years ago, reports PTI. Read more

LIC increases stake in Punjab National Bank to 14%

The country’s largest insurer Life Insurance Corp. of India has increased its stake in public sector lender Punjab National Bank to 13.93% through a qualified institutional placement, reports PTI. Read more

Experiencing the IBC: Mandatory schedules should not be diluted

We are on the cusp of consideration of resolution plans for non-performing assets (NPAs) under the bankruptcy framework. Three issues have surfaced as prominent learning on the journey for successful implementation of the Insolvency and Bankruptcy Code (IBC), reports Business Standard. Read more

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