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

NCLT admits RCom petition for Aircel merger

The National Company Law Tribunal (NCLT) on Monday admitted Reliance Communications Ltd (RCom)’s petition for merging its wireless division with telecom firm Aircel Ltd, reports Mint. The tribunal has also admitted RCom’s petition for a 51% stake sale in its telecom tower arm to Canada-based Brookfield Infrastructure. The tribunal will issue final orders on 13 September. Read more

Kolte Patil sells Pune land to Island star for Rs160 crore

Pune-based developer Kolte-Patil Developers Ltd has sold a land parcel in the city’s Wakad suburb to Island Star Mall Developers Pvt. Ltd, an investment platform of Phoenix Mills Ltd and Canada Pension Plan Investment Board (CPPIB), for Rs160 crore, the companies said on Monday in separate BSE filings, reports Mint. Read more

Greenko to buy stakes in Pennar’s renewables energy unit

Pennar Industries Ltd (PIL), a Hyderabad-based engineering company, on Monday said its board has agreed to sell a stake in its subsidiary Pennar Renewables Pvt. Ltd to Greenko Solar Energy Pvt. Ltd, the solar energy arm of Greenko Energy Holdings, reports Mint. Read more

Mars food to acquire US-based Tasty Bite that makes Preferred Brands

Mars Food, a unit of American chocolatier Mars Inc., said it has agreed to acquire another US-based firm that makes ready-to-eat products Preferred Brands International, reports Mint. Tasty Bite Eatables is listed on BSE and will continue to be listed after the acquisition is completed, Mars Food said in a statement on Monday. Read more

Angry Birds maker Rovio soon to go for IPO at $2 billion value

Rovio Entertainment Ltd is planning an initial public offering as early as next month that could value the maker of the Angry Birds mobile games and movie at about $2 billion, said people familiar with the matter. Carnegie Bank A/S, Danske Bank A/S and Deutsche Bank AG are among banks advising on a potential listing. Read more

Mahindra sells entire stake in Chinese tractor JV

Tractor major Mahindra & Mahindra has sold its entire stake in its Chinese tractor joint venture to partner Yueda Yancheng, reports Times of India. The company sold its 51% stake for 82 million renminbi, or around Rs80 crore. The Chinese JV—Mahindra Yueda Yancheng Tractor—was set up six years ago and M&M invested in the entity through wholly-owned subsidiary Mahindra Overseas Investment Co. (Mauritius). Read more

Uber considers 3 offers to acquire company’s shares

Uber’s board has voted to move forward on proposals by two investment groups to buy shares in the ride-hailing service and is considering a third offer, with any final decision set to affect who gains the upper hand at the company, reports New York Times. Read more

RBL raises Rs1,680 crore from CDC group, others

RBL Bank (formerly Ratnakar Bank) has raised Rs1,680 crore through a preferential issue of equity shares to domestic and international investors led by CDC Group. The bank has said that it will use the money to pursue both organic and inorganic growth, reports Times of India. Read more

HCL pumps $780 million in intellectual property tie-up with IMB

HCL Technologies has taken an unconventional route to partially offset the slowing down of its traditional workhorse, infrastructure management services (IMS). India’s fourth-largest IT services firm has pumped $780 million into five intellectual property (IP) partnerships with IBM, reports Times of India. Read more

Big IPOs yet to take place in India this year

A slew of big-ticket initial public offers is set to hit the market over the next few months, with insurers including HDFC Life, ICICI Lombard and General Insurance Corporation along with government’s Exchange-Traded Fund (ETF) among others gearing up to raise at least Rs30,000-40,000 crore by December, reports Economic Times. Read more

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