Home / Companies / Deals Buzz: Alibaba set to invest $300 million in BigBasket

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

Mswipe raises $10 million from DSG Consumer, B Capital

Mswipe Technologies Pvt. Ltd, which makes point of sale (PoS) machines for merchants, raised $10 million in funding from B Capital Group and DSG Consumer Partners, closing its Series D round, the company said on Wednesday, reported Mint. Read more

Paytm acquires Nearbuy and Little, to merge both

Paytm on Wednesday announced the acquisition of Nearbuy and Little, two deals platforms that focus on local restaurants as well as commercial establishments, reported Mint. Read more

Future Supply Chain IPO sees 32% subscription on Day 1

The Rs650-crore initial public offering (IPO) of Future Supply Chain Solutions Ltd, the logistics arm of the Kishore Biyani-led Future Group, witnessed an overall subscription of 32% on Wednesday, the first day of the share sale, reported Mint. Read more

IBA suggests steps to ease financial stress on telecom firms

Indian Banks’ Association (IBA) has sought to ease the financial stress on telecom companies by suggesting to the government that it refund operators any excess upfront payment made for surrendered spectrum and scrap deferred payment liabilities related to the airwaves, reported Mint. Read more

Damodar Valley Corp scraps plan to sell plant to NLC India joint venture

A bitter political spat involving the Centre and the states of West Bengal and Jharkhand has forced power utility Damodar Valley Corp. (DVC) to abandon its plan to sell a 1,200-megawatt (MW) plant to a proposed joint venture with NLC India Ltd (formerly Neyveli Lignite Corp.), putting at risk Rs21,000 crore of long-term loans that it is struggling to repay, reported Mint. Read more

Alibaba all set to put $300 million in BigBasket

Alibaba is poised to buy over a third of online grocer BigBasket, according to three people directly aware of the impending deal, for about $300 million. The transaction will add to a portfolio of strategic investments the Chinese e-commerce giant is building in India as it squares up against Amazon in one of the most dynamic markets for e-commerce, reported The Economic Times. Read more

Mint had reported on 26 July Alibaba Group Holding Ltd and its Indian associate Paytm E-commerce Pvt. Ltd were in talks to invest about $200 million for a stake of roughly 20% in Bigbasket, citing people familiar with the matter. Read more

AlmaMapper buys iTeknika in swap deal

Eductech firm AlmaMapper Technologies backed by Osawl Techno Ventures, has acquired another recruitment and assessment solutions company iTeknika in a cash and share swap deal. This is the second acquisition within a year, having earlier acquired recruitment solution company VibrantMinds Technologies, reported The Economic Times. Read more

Capital-hungry banks seek MF backing for $3 billion QIPs

Public sector banks (PSBs) are seeking the backing of mutual funds (MFs) to ensure smooth sailing of their qualified institutional placements (QIPs). Over half a dozen sate-owned banks will soon tap the market for equity fundraising worth Rs18,300 crore (nearly $3 billion), reported Business Standard. Read more

Disney said to finalize a deal with 21st Century Fox

The Walt Disney Co. is in advanced discussions to buy significant parts of 21st Century Fox, the media company run by the Murdoch family, reported New York Times citing people briefed on the matter on Tuesday. Read more

Chai Point plans to raise more than $10 million in Series C funding

Mountain Trail Foods Pvt. Ltd, which owns the Chai Point chain of tea stores, plans to raise more than $10 million in a Series C round of funding, which it expects to close in the first half of 2018, reported Mint. Read more

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