Deals Buzz: Tata Group plans to merge 5 PE units into single $1 billion fund
In other news, PE firm Everstone Capital and AION Capital want to buy a significant minority stake in Catholic Syrian Bank
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Janalakshmi Financial Services raises up to Rs700 crore
Janalakshmi Financial Services has raised Rs600-700 crore (around $100 million) in latest round of fund-raising ahead of its transformation as a small finance bank, reports Mint, citing two people aware of the development, Read more
Investors, developers look to buy out malls, land to expand retail portfolio
Top investors and developers are looking to buy out shopping malls and land to expand their retail realty portfolios on the back of urban India’s consumption story. Large investments by global funds and demand for quality malls have also propelled the unprecedented expansion in this space, reports Mint. Read more
OptaCredit secures $4 million credit line from DMI Finance
OptaCredit Fintech Pvt. Ltd, a digital lending startup focusing on white-collar salaried workers, on Sunday said it has secured a credit line of $4 million from DMI Finance Pvt. Ltd, a non-banking financial services company (NBFC), reports Mint. Read more
ONGC looks to raise debt to fund HPCL acquisition
State-owned explorer Oil and Natural Gas Corp. (ONGC) is looking at raising debt and selling some of its shareholding in other public sector companies to finance its Rs36,915 crore acquisition of a 51.11% stake in state-owned refiner Hindustan Petroleum Corp. Ltd. (HPCL), reports Mint. Read more
Future Group in advanced talks to acquire Foodworld Supermarkets
Future Group is in advanced talks to acquire grocery retailer Foodworld Supermarkets, a deal that could give Kishore Biyani sway over a network of nearly 150 grocery, beauty and personal care stores in southern India, according to several people with knowledge of the matter, reported The Economic Times. Read more
Lenders to receive bids for Essar Steel till second week of February
The deadline to submit bids for bankrupt Essar Steel has been extended to the second week of February from January-end as potential bidders have sought time to finalise the structure and funding of their proposals, said people with knowledge of the matter, reported The Economic Times. Read more
Lenders may okay ultra-HNIs’ bid for Jyoti Structures
Lenders led by State Bank of India are set to approve a bid for Jyoti Structures by a clutch of ultra-high net worth individuals, led by Netmagic founder Sharad Sanghi, reports The Economic Times, citing two bankers in the know of the matter, Read more
Tata Group plans to merge 5 private equity units into single $1 billion fund
The Tata Group is considering a rejig of its private equity (PE) business by combining multiple middle-market offerings into a single big fund. Group company Tata Capital runs five funds totalling over $1 billion—making it the largest corporate-sponsored PE franchise in the country—and had struck investments in companies like Uber Technologies and Star Health Insurance, reports The Times of India. Read more
Everstone, AION in race for stake in Catholic Syrian Bank
The largest India-focused private equity (PE) firm Everstone Capital and AION Capital want to buy a significant minority stake in Catholic Syrian Bank (CSB). The move comes even as the Kerala-headquartered lender’s board is expected to consider suitors for a 30% stake this week, people directly aware of the matter told The Times of India. Read more
Top Indian executive may leave Carlyle after 14 years
Private equity giant Carlyle Group is likely to see a top-level exit with Shankar Narayanan, managing director and co-head of Asian growth capital investments, leaving the firm shortly, reports The Times of India, citing multiple people aware of the matter. Read more
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!