BackDeals Buzz: Eicher Motors set to make $1.8 billion bid to acquire Ducati
In other news, Reliance Industries is set to acquire assets of Kemrock Industries, while Lendingkart Technologies has raised $10.5 million
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Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Eicher Motors closes in on Ducati; to make a binding bid of $1.8 billion
Siddhartha Lal-led Eicher Motors is revving up to make a binding offer to acquire the iconic Italian superbikes Ducati for $1.8-2 billion—a move, if successful, will further power its portfolio, brand equity, global reach and access to technology, reports Economic Times, citing multiple sources. Read more
Two Bengaluru NBFCs to raise $50 million each from private equity investors
Two Bengaluru-based non-banking financial companies (NBFCs), Thirumeni Finance Pvt. Ltd and Vistaar Financial Services Pvt. Ltd, are in discussions to raise about $100 million from private equity investors, reports Mint, citing two people aware of the matter. Read more
Reliance Industries to acquire assets of Kemrock Industries
Reliance Industries Ltd (RIL) on Wednesday said it would acquire the assets of Vadodara-based Kemrock Industries and Exports Ltd to enter the composites business. The acquisition will further strengthen RIL’s petrochemicals business portfolio, while paving the way for its foray into new materials (composites and carbon fibre), reports Mint. Read more
TCNS Clothing hires investment banks for IPO
TCNS Clothing Co. Pvt. Ltd, the owner of women’s apparel brands W, Aurelia and Wishful, has hired investment banks Citibank and Kotak Mahindra Capital to manage its initial share sale, reports Mint, citing three people aware of the development, requesting anonymity. TCNS Clothing is likely to raise around Rs700-750 crore through a mix of fresh issue of shares and secondary share sale by existing investors. Read more
Lendingkart raises $10.5 million from Sistema Asia Fund, existing investors
Lendingkart Technologies has raised $10.5 million from Singapore-based Sistema Asia Fund and existing investors, the company said on Wednesday, reports Mint. Bertelsmann India Investment, Mayfield India, Saama Capital, India Quotient and Darrin Capital Management also invested in the latest round. Read more
Capacit’e Infraprojects IPO to open on 13 September
Construction company Capacit’e Infraprojects Ltd Wednesday said it will launch its Rs400 crore initial public offering (IPO) on 13 September, reports Mint. The company will issue shares in a price band of Rs245-250. The IPO will see the company dilute 24% stake. The company is backed by Siddharth Parekh-led private equity firm Paragon Partners. Read more
GVFL invests undisclosed sum in Ecotrail Personal Care
Venture capital fund GVFL Ltd on Wednesday said its start-up fund has made an investment in Ahmedabad-based Ecotrail Personal Care Pvt. Ltd, which makes the Iba Halal Care line of cosmetics. It did not disclose the amount invested, reports Mint. Iba claims to be the only halal-certified brand in India. Read more
Fintech start-up CreditVidya raises $5 million from Matrix Partners
CreditVidya, a financial technology start-up that uses traditional as well as alternative data sources to provide customer profiling has raised $5 million in its series-B round of funding from venture capital (VC) firm Matrix Partners, reports Mint. The funding also saw participation from existing investor Kalaari Capital, which had invested in the company in 2016. Read more
Hyderabad start-up RDP plans to raise $3 million
Hyderabad-based affordable computing devices manufacturer RDP plans to raise $3 million in the near term to boost its sales and marketing initiatives in the country, RDP founder and chief executive officer Vikram Redlapalli said on Wednesday, reports Times of India. Since its launch in 2012, the startup has invested around $3 million and caters to both the enterprise and consumer segments. Read more
Western Digital in talks for stake in Toshiba chip unit after an IPO: report
Western Digital Corp. is in talks to gain voting rights of just under 16% in Toshiba Corp.’s memory chip unit on the assumption that it will be listed in the future, Kyodo news agency reported on Thursday. Kyodo did not cite sources or say who the US firm was in talks with. Read more
Dixon Technologies IPO subscribed 78% on Day 1, Bharat Road Network IPO gets 22%
The initial public offering (IPO) of Dixon Technologies (India) Ltd, a contract manufacturer of electronic products, was subscribed 78% on the first day on Wednesday, while that of Bharat Road Network Ltd, a roads and highways company, saw an overall subscription of 22%, reports Mint. Read more
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