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

Aditya Birla’s acquisition bid may value Ohio based Aleris Corp at $2.5B

Billionaire Kumar Mangalam Birla’s Aditya Birla Group is readying a bid for aluminium maker Aleris Corp., reports Mint citing two people directly aware of the development. The group’s bid may assign a $2.5 billion enterprise value for Cleveland, Ohio-based Aleris, the people cited above said on condition of anonymity. The offer, which may come as soon as the first week of October, will include an investment of close to $1 billion through equity and debt, and refinancing of the company’s debt of around $1.5 billion, said one of the two people. Read more

Godrej Agrovet looking at $1.27B valuation in IPO

About 50 Godrej group employees have bought shares worth around $1.5 million (Rs8.5 crore) in a so-called pre-initial public offering (IPO) round of Godrej Agrovet Ltd, reports Mint citing two people aware of the development. The pre-IPO round saw employees from various group firms including Godrej Consumer Products Ltd, Godrej Properties Ltd, Nature’s Basket, Godrej Tyson Foods and Godrej and Boyce Manufacturing Co. Ltd, the people cited above said. Read more

PremjiInvest acquires 45% stake in Shubham Housing, invests $35M

PremjiInvest, the family investment arm of Wipro chairman and billionaire Azim Premji, has acquired a significant minority stake in Shubham Housing Development Finance Co. Ltd, reports Mint citing two people aware of the development. PremjiInvest invested about $35 million (Rs225 crore) for about a 45% stake in the affordable housing finance company from promoters as well as existing investors, one of the two people said on condition of anonymity. Read more

Synup raises $6M in series A from Vertex Ventures to expand business

Synup, a software provider that helps companies manage their online presence and reach, has raised $6 million in a Series A round led by Vertex Ventures, the company said in a statement. Prime Venture Partners, a seed-stage venture fund based in Bengaluru, also invested in the round. Synup, which focuses mainly on small and medium companies in the US, claims its solution has been used in more than 50,000 locations across the US and Canada, reports Mint. Read more

Essel Infraprojects unit raises Rs680 crore via bond issue

A unit of Essel Infraprojects Ltd raised Rs680 crore through a rare-structured bond issue, which is supported by the monthly payments it gets from Power Grid Corp. of India Ltd’s (PGCIL) centralized transmission charge collection mechanism, reports Mint according to two people aware of the development. Read more

Sistema forms joint venture to bring Russian kids’ brand to India

Russia’s Sistema JSFC is diversifying into India’s retail sector with the imminent closure of its telecom services business in the country. The $10-billion Moscow-based conglomerate, through its subsidiary, Concept Group, has floated a 49:51 joint venture with Delhi-based Saamag Group to bring Russia’s popular kids retail brand Acoola to India at an initial $10 million investment to roll out branded stores, reports ET. Read more

Vodafone launches solutions for start ups

Vodafone India launched the Ready Start-up Kit that has solutions aimed to give complete visibility, manageability, and control over various business assets to startup owners, reports ET. The kit includes complimentary access to Vodafone’s internet of things ( IoT), managed connectivity Platform, dedicated support team and rental free package for 6 months for as many as 50 IoT SIMs to develop and deploy their solution. Read more