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Reliance Jio plans to raise Rs20,000 crore through rights issue

Reliance Jio Infocomm (Jio) plans to raise Rs20,000 crore via a rights issue of optionally convertible preference shares to shareholders as the wholly-owned unit of Reliance Industries Ltd (RIL) prepares for the next phase of expansion in an intensely competitive market, reports The Economic Times. Read more

RIL to acquire 25% stake in Balaji Telefilms for Rs413 crore

RIL on Thursday purchased a 24.92% stake in film and television production house of Jeetendra Kapoor-owned Balaji Telefilms Ltd for a deal worth Rs413.28 crore, reports Mint. RIL will buy 25.2 million equity shares at Rs164 each of Balaji. Read more

Tata group to sell its biotech unit Advinus tech to Eurofins

The Tata group on Thursday said that it had agreed to sell its pharmaceuticals and biotech research unit Advinus Therapeutics to Eurofins Scientific, a Luxembourg-based group of laboratories. According to Tata’s 2015-16 annual report, group holding company Tata Sons Ltd holds a 67.31% stake in Advinus, reports Mint. Read more

Finland’s Taaleri looking to buy solar power projects in India

Finland’s Taaleri, which provides wealth management and financial services to institutional investors, is keen on investing in solar power projects in India. Nasdaq Helsinki-listed firm is reflective of the trend wherein overseas firms have led the race on aggressive tariffs to secure renewable energy project contracts in India. Taaleri Solar Wind fund is Finland’s first equity fund to invest in overseas green energy assets, reports Mint. Read more

IFC invests Rs130 crore in Aavas Financiers

International Finance Corp. (IFC), a member of the World Bank Group, on Thursday said it has invested Rs130 crore ($20 million) in Jaipur-based Aavas Financiers Ltd, reports Mint. Aavas Financiers will use the funds to provide housing loans to low-income consumers in rural and semi-urban areas who have little or no access to mortgage finance. Read more

Bajaj Auto likely to acquire Ducati

Bajaj Auto, India’s largest two-wheeler exporter, is likely to partner Europe’s iconic motorcycle brand Ducati, encouraged by its existing partnership with KTM, Europe’s largest motorcycle maker. KTM, in which Bajaj Auto has about 48% equity stake, is said to be closing in on the Ducati brand, which is on the selling block. The announcement is likely to be made in the next two weeks, reports The Economic Times. Read more

FM Arun Jaitley to head panel for ONGC-HPCL merger

Union finance minister Arun Jaitley will head a panel that will administer and speed up Oil and Natural Gas Corp.’s acquisition of Hindustan Petroleum Corp. Ltd in taking quick decisions regarding the same.

The cabinet decided at the meeting that the panel, described officially as an “alternative mechanism", headed by Jaitley, will oversee the transaction and take “quick decisions" on the timing, price and other related terms and conditions. Roads minister Nitin Gadkari and oil minister Dharmendra Pradhan will assist Jaitley in the exercise, reports The Economic Times. Read more

RIL to invest $25 million in Israeli tech Innovator for 25% stake

Reliance Industries Ltd (RIL) said on Thursday that it will be investing $25 million (Rs161 crore) for a 20% stake in Jerusalem Innovation Incubator (JII). It is a newly-created outfit that will invest in early-stage startups emerging from one of the oldest cities in the world, reports The Times of India. Read more

Newgen may make debut with Rs500 crore issue

Newgen Software Technologies is preparing to make its public market debut with an expected issue size of about Rs500 crore. The Delhi-based company is expected to file its draft red herring prospectus (DRHP) in the coming weeks. Newgen software has appointed ICICI Securities and Jefferies as its lead book managers for the anticipated initial public offering (IPO), reports Economic Times. Read more

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