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

SoftBank offers to buy Flipkart shares at up to $10 billion valuation

Japanese telecom and internet conglomerate SoftBank Group Corp. has offered to buy shares from investors and former and existing employees of Flipkart Ltd, valuing the e-commerce marketplace at $9-10 billion, reports Mint, citing three people familiar with the matter. Read more

Future Supply Chain IPO’s price band set at Rs660-664 per share

Future Supply Chain Solutions Ltd, the logistics arm of Kishore Biyani-led Future Group, on Wednesday said its Rs650 crore initial public offering (IPO) will open on 6 December, reports Mint. The company has set a price band of Rs660-664 per share for the IPO, which values it at Rs2,644-2,660 crore. The offer will close on 8 December. Read more

CleanMax Solar raises $15 million from World Bank’s IFC

American private equity major Warburg Pincus-backed rooftop solar company CleanMax Solar has raised $15 million in equity capital from World Bank arm International Finance Corp. (IFC), reports Mint, citing a senior executive of the firm. Read more

IBC ordinance may disqualify global private equity funds

The broad sweep of India’s amended Insolvency and Bankruptcy Code (IBC) may shut out several global private equity (PE) funds that have tied up at least $10 billion to invest in Indian non-performing assets, reports Mint, citing legal experts. Read more

M&M to hike stake in financial services arm, invest Rs1,055 crore

Mahindra & Mahindra has said it will increase holding in its arm Mahindra & Mahindra Financial Services Ltd (MMFSL) to 53.25% through acquisition of 2.5 crore shares for a cash consideration of Rs1,055 crore, reports PTI. Read more

ArcelorMittal says 29% in Uttam Galva no hindrance to stressed asset bidding

Billionaire Lakshmi Mittal’s ArcelorMittal said its 29% equity stake in Uttam Galva Steels will not impede them from participating in bidding for stressed steel assets in India, reports The Economic Times. Read more

Adani, Hindujas line up to invest in Jaypee Infra

At least three high-profile bidders—Adani Group, Hindujas and Sajjan Jindal’s JSW Group—have entered the fray to invest in Jaypee Infratech, taking the number of suitors past 20, reports The Times of India. Read more

OPIC to invest $50 million to support Indian women entrepreneurs

With an eye on the India-Pacific region, the Overseas Private Investment Corp. (OPIC) has earmarked an investment of close to $50 million for women entrepreneurs in India, said Ray Washburne, CEO of the US government body, reports The Times of India. Read more

Softbank may invest $200-250 million in food delivery start-up Swiggy

SoftBank has entered the fray to pick up a stake in Bundl Technologies, which owns and operates food delivery startup Swiggy, according to three people aware of the development, reported The Economic Times. Read more

Yes Bank sets up $1 billion debt programme to raise money

Yes Bank Ltd’s board on Wednesday approved the setting up of a $1 billion medium-term note (MTN) programme, enabling the bank to raise funds in one or more tranches, an exchange filing by the lender showed, reports Mint. Read more

Fund managers make switch to high-growth AIF industry

Marquee fund managers are making the switch from mutual funds to newly introduced alternative investment funds (AIFs), which are seeing a rapid growth in commitments thanks to a spike in the number of wealthy investors, reports Business Standard. Read more

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