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

Govt to sell 10% stake in NTPC this week to raise $2.2 billion

The government said it will sell a 5% stake in top power producer NTPC Ltd through a stock market auction, with a greenshoe option to sell another 5% in a deal that could raise up to $2.2 billion, reports Mint. The share sale, which will take place this week, is one of a number of partial stake sales planned to help New Delhi meet its fiscal deficit target of 3.2% of gross domestic product. Read more

Amazon may back Grofers to counter Alibaba-BigBasket

Online grocery is emerging as the next battlefield for top internet companies in India with Amazon and Alibaba throwing their weight behind the category to get a toehold in what could potentially be a huge market, reports Times of India. Amazon has shown interest in picking up a minority stake in SoftBank-backed e-grocer Grofers after the internet behemoth’s talks with BigBasket failed to culminate in a deal. Read more

DSG Consumer Partners closes its second fund at $50 million

Deepak Shahdadpuri-led investment firm DSG Consumer Partners (DSGCP) has achieved a final close of $50 million for its second fund DSGCP II, reports Mint. DSG is one of the first funds in the country to focus exclusively on the consumer space, has invested in firms such as payments firm Mswipe, specialty food ingredients maker Veeba Foods, Greek yogurt maker Epigamia, online budget accommodation portal Oyo Rooms and tea chain Chai Point. Read more

CureFit raises $25 million in fresh round of funding

Health and wellness start-up CureFit on Monday said it has raised $25 million (over Rs159 crore) in a fresh round of funding to expand its footprint to build innovative products, reports PTI. The company has raised $25 million in series B round of funding from existing investors Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT fund, CureFit said in a statement. Read more

Jaypee Power lenders seek bids for 30% stake sale

Lenders of Jaiprakash Power Ventures Ltd (JPVL) have sought bids to sell at least 30% stake in the company to recover some of their dues. The unidentified lenders have hired SBI Capital Markets and Ernst and Young for the sale, the document seeking bids from potential investors said. Read more

JSW Steel in talks with Cevital to acquire mill for $100 million

Sajjan Jindal-owned JSW Steel is in talks with Algeria’s Cevital Group to acquire its Aferpi steel mill in Italy for $100 million, a person familiar with the matter said on Monday, reports PTI. The private steel maker had earlier tried to acquire the mill in 2014, when it was known as Lucchini. The Algerian conglomerate Cevital, however, acquired Lucchini and renamed the it Acciaierie e Ferriere di Piombino (Aferpi). Read more

Freshworks acquires website analytics start-up Zarget

Enterprise software firm Freshworks Inc., previously Freshdesk, said on Monday that it had acquired Zarget, a website analytics start-up backed by marquee investors, including Sequoia Capital. The terms of the deal were not disclosed, reports Mint. This marks the ninth acquisition for Freshworks in less than three years. It had acqui-hired chatbot start-up Joe Hukum, data integration platform Pipemonk and social media customer service firm Airwoot, among others. Read more

Acme, Inox explore exit from renewable energy projects won at record low tariffs

Acme Group and Inox Group that bid the country’s lowest solar and wind tariffs, respectively, this year now plan to exit the projects, reports Mint, citing several people aware of the development. Inox Wind Infrastructure Services Ltd bid Rs3.46 per kilowatt-hour (kWh) to win a 250 megawatt (MW) wind power contract in a 1 gigawatt (GW) tender by state-run Solar Energy Corp. of India (SECI) in February. Read more

ICICI Lombard okay with investor backing rival company

ICICI Lombard is beefing up its digital platform to consolidate its position as the country’s largest private non-life insurer even as partner Fairfax Financial Holdings prepares to pick up 49% stake in a rival non-life startup Digit. However, the private insurer does not see any conflict in Fairfax being the biggest shareholder by retaining close to 10% stake in ICICI Lombard, reports Times of India. Read more

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