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

Newgen to launch Rs400 crore IPO on 16 January

Newgen Software Technologies Ltd, a software products company, on Tuesday said it will launch an initial public offering (IPO) on 16 January, seeking to raise over Rs400 crore, reports Mint. Read more

Niten Malhan to quit as Warburg Pincus India MD, start own investment company

Warburg Pincus India managing director and co-head of India Niten Malhan is quitting to start his own investment firm, reports Mint, citing two people aware of the development. This will mark the second top-level exit at the top American PE investor’s Mumbai office. Read more

PE investments in hospitality industry rose threefold in 2017

Private equity investments in the hospitality industry jumped three-fold in 2017, with transactions worth around $119 million closing during the year, indicating renewed interest in the sector, reports Mint. Read more

Axis, Max not in talks anymore, bank to chart out insurance foray on its own

Axis Bank is looking to acquire a life insurance business, reports The Economic Times, citing people with knowledge of the development. The bank’s executive committee had approved the move in the December quarter. Among possible targets are IDBI Federal Life Insurance and Tata AIA. Read more

IDFC Bank, Capital First explore merger worth Rs29,000 crore

IDFC Bank, which scrapped a deal to merge with Shriram City Union is said to be exploring a similar deal with the Mumbai-based Capital First, which has more than 5 million customers in retail and small and medium enterprises, reports Mint, citing two people familiar with the discussions. Read more

Realty firms struggle with record Rs99,000-crore unsold inventory

Real estate firms are once again adding inventory at a faster clip as sales offtake fails to keep pace with the rising supply of new properties. At the end of March this year, top listed developers were sitting on unsold inventory worth Rs99,000 crore, reports Business Standard. Read more

Paytm sets up investment and wealth management unit for its users

Mobile-first financial services platform Paytm on Tuesday announced the setting up of yet another company, Paytm Money Ltd, a wholly-owned subsidiary of One97 Communications, the firm that owns the Paytm brand, to build investment and wealth management products for its users, reports Business Standard. Read more

Fundraising through SME IPOs hits all-time high, rises Rs134.2 million in 2017

The year 2017 was the best year for public share sales of small and medium enterprises (SMEs) as individual investors, lured by past returns, flocked to pick up these offerings. The SME platform witnessed 133 offerings, mopping up Rs16,795 million last year, higher than the combined amount raised in the previous five years, reports Business Standard. Read more

Khadi ties up with retailers to enter shopping malls

Khadi has finally entered shopping malls by tying up with retail chains, in what is seen as an attempt to tap the middle-class market it has been losing to Patanjali, reports The Times of India. Read more

Morgan Stanley leads fundraise in home-grown stent company

Home-grown stent manufacturer SMT is raising Rs230 crore in a funding exercise led by leading investment management firm Morgan Stanley, along with existing institutional investor Samara Capital, in one of the largest deals in the highly-regulated segment, reaffirming its attractiveness to investors, reports The Times of India. Read more

SBI to raise Rs5,000 crore via bonds for affordable housing

Country’s largest lender State Bank of India (SBI) on Tuesday said it proposes to raise Rs5,000 crore through long-term bonds to fund affordable housing, reports PTI. Read more

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