Deals Buzz: Zensar Technologies to buy Cynosure for Rs208 crore2 min read . Updated: 22 Mar 2018, 01:19 PM IST
In other new, Oyo Rooms has initiated talks to raise $500-800 million in fresh funding, six months after the company raised its last round
Mumbai: Mint brings to you the daily dose of top deals reported by newsrooms across the country.
Oyo in talks to raise up to $800 million in fresh funding
Oyo Rooms has initiated talks to raise $500-800 million in fresh funding, six months after the company raised its last round, reports Mint citing four people aware of the development.
The new funding round, when it happens, will add Oyo to the list of Indian unicorns—start-ups worth more than $1 billion. Read more
Binani Cement acquisition: Lenders differ with UltraTech over claim amount
Lenders differ with UltraTech Cement Ltd over the claim amount that it has to pay if the insolvency proceedings of Binani Cement Ltd are terminated, according to two people aware of the matter, reports Mint. Read more
Indiabulls to sell 50% stake in prime Mumbai office assets to Blackstone
Global private equity firm Blackstone Group Lp is set to buy a 50% stake in Indiabulls Real Estate Ltd’s prime office assets in central Mumbai for an enterprise valuation of around $1.3 billion, Mint reports citing two people directly aware of the transaction. The assets include Indiabulls Finance Centre and One Indiabulls Centre. Read more
Northern Arc Capital plans to raise funds in pre-IPO round
Northern Arc Capital, earlier known as IFMR Capital, is looking to raise funds through a private round, ahead of its plans to go public, reports Mint citing two people aware of the development.
IFMR Capital rebranded itself as Northern Arc Capital in February this year. Read more
BPCL unit looking to raise $600 million to refinance debt
Bharat Petro Resources Ltd (BPRL), the exploration and production arm of state-run oil marketing company Bharat Petroleum Corp. Ltd (BPCL) is planning to raise $600 million to refinance debt, according to Mint’s report where two people aware of the development were cited. Read more
ICICI Securities raise Rs1,717 crore from anchor investors
Ahead of its initial public offer, ICICI Securities today raised Rs1,717 crore from as many as 58 anchor investors.
The brokerage firm, part of ICICI group, has decided to allot shares at a price of Rs520 apiece to anchor investors, including Temasek, Nomura, Fidelity, Blackrock and Fairfax, reports PTI. Read more
Zensar Tech to buy Cynosure for Rs208 crore
Zensar Technologies will acquire 100% stake in the Indian and US arms of Cynosure, a move that will help it enhance its offerings in the insurance technology space. Insurance vertical accounts for about 15% of the Pune-based Zensar’s total revenue, reports Times of India. Read more
IDFC looks to exit asset management biz in Rs4,000 crore deal
IDFC has begun discussions with IndusInd Bank and Citic CLSA, among others, to merge or sell its asset management company (AMC)—which manages about $11 billion, or Rs71,000 crore—as part of value-unlocking moves for shareholders, says TOI report citing multiple sources familiar with the matter. Read more