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

Ola raises $1.1 billion from Tencent and SoftBank

India’s largest cab-hailing service Ola (ANI Technologies Pvt. Ltd) has raised $1.1 billion in fresh funding from China’s Tencent Holdings Ltd and existing investor SoftBank Group Corp. of Japan, giving it enough ammunition to keep arch-rival Uber Technologies Inc. at bay, even as the biggest investors in India’s consumer internet ecosystem begin to close ranks, reports Mint. Read more

ICICI Bank to raise $150 million via offshore bonds this fiscal year

ICICI Bank Ltd, the country’s second largest lender, on Wednesday said it is planning to raise $150 million in offshore borrowing this fiscal, reports PTI. The bank said the committee of executive directors in a meeting held on Tuesday approved the offshore borrowing plan for 2017-18. Read more

LIC makes Rs8,000 crore bid in GIC Re ongoing IPO

Life Insurance Corp. of India (LIC) has put in a major bid for shares of reinsurer General Insurance Corp. of India Ltd (GIC Re), in the latter’s ongoing initial public offering (IPO), reports Mint, citing two people aware of the development, on the condition of anonymity. The GIC Re IPO is looking to raise Rs11,372 crore ($1.7 billion) at the upper end of the price band of Rs855-912 per share. Read more

Multiples PE, Aditya Birla PE sold IEX shares of Rs103 crore ahead of IPO launch

Private equity investors Aditya Birla Private Equity and Renuka Ramnath-led Multiples Alternate Asset Management (Multiples PE) sold Indian Energy Exchange Ltd (IEX) shares worth Rs103 crore in private transactions, just a couple of days ahead of the launch of the firm’s initial public offering, reports Mint. The initial share sale of power exchange IEX opened on 9 October. As of closing on the last day of the public offering on Wednesday, the IPO was subscribed 2.23 times. Read more

L&T to sell subsidiary EWAC Alloys for Rs522 crore

Engineering major Larsen and Toubro Ltd (L&T) on Wednesday announced the sale of unlisted subsidiary EWAC Alloys Ltd as part of its strategy to exit non-core businesses, reports Mint. In a stock exchange filing, Larsen and Toubro said it has entered into a definitive agreement with ESAB Holdings Ltd, a company registered in the UK, to sell EWAC Alloys for Rs522 crore. Read more

Sanctum Wealth ties up with Equanimity to help clients invest in start-ups

Sanctum Wealth Management on Wednesday announced a partnership with Equanimity Investments, a venture capital fund, to help clients diversify their portfolios by investing in early stage start-ups, reports Mint. The association helps Sanctum Wealth strengthen its product proposition, while allowing Equanimity access to Sanctum’s wealthy clients for its fund-raising efforts. Read more

Goldman Sachs-backed Samhi Hotels keen to expand portfolio

Goldman Sachs-backed hotel investment firm Samhi Hotels said it is keen to expand its portfolio after buying British chain Premier Inn’s India portfolio and hotel chain AccorHotels’s 40% stake in Barque Hotels, reports Economic Times. Read more

Hamdard Laboratories ties up with Barista Coffee

Hamdard Laboratories, maker of RoohAfza, on Wednesday announced a strategic tie-up with Barista Coffee Company, which will cover 100 Barista stores serving RoohAfza-based drinks in coffee and other beverage blends including hot drinks, reports Economic Times. Read more

Dhoot Transmission enters into 50:50 JV with Carling Tech

Aurangabad-based Dhoot Transmission has entered into a 50:50 JV with Connecticut-based automotive switching and electronic control major Carling Technologies for the manufacture and sale of electro-mechanical and electronic switches in India, reports Times of India. Read more

Elliott raises its stake in Hitachi Kokusai after KKR raises offer price

US hedge fund Elliott Management Corp. has raised its stake in Japan’s Hitachi Kokusai Electric to 8.59% from 7.11%, a regulatory filing showed, one of several such hikes since it first disclosed a stake in the firm last month, reports Reuters. Read more

Lupin buys US firm Symbiomix Therapeutics for $150 million

Lupin Ltd on Wednesday said its US subsidiary has acquired Symbiomix Therapeutics LLC for a cash consideration of $150 million, in a bid to expand in the women’s health segment, reports Mint. The total cash consideration includes an upfront payment of $50 million and other time-based payments. Read more

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