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

Mercator plans to carve out dredging business

Mercator Ltd is planning to carve out its dredging operations into a separate unit and plans to raise as much as $200 million from financial and strategic investors for that business, reports Mint, citing two people aware of the matter. The company has hired investment banker Singhi Advisors to manage the process. Read more

Syntel telecom signs deal to buy Enkay Technologies’ two units

Syntel Telecom Ltd, a unit of Arvind Ltd, has signed a deal to buy two divisions of Enkay Technologies (India) Pvt. Ltd, two persons aware of the development said, reports Mint. Mumbai-based investment bank Singhi Advisors was the sole adviser in the transaction. The deal value could not be ascertained. Read more

Bajaj Finance hires three banks to start $700 million QIP

Bajaj Finance Ltd has hired three investment banks and started work on a qualified institutional placement (QIP) to raise around $700 million (Rs4,500 crore), reports Mint, citing two people aware of the development. It has hired investment banks JM Financial, Kotak Mahindra Capital and Goldman Sachs to manage its institutional share sale. Read more

APM terminals to sell gateway terminal to Adani and JSW

APM Terminals is in talks with Adani Group and JSW Group to sell the Dutch company’s 74% stake in Gateway Terminals India Pvt. Ltd (GTI), reports Mint, citing three people familiar with the discussions. Gateway Terminals, in which Container Corp. of India Ltd (Concor) owns the remaining 26% stake, is India’s largest container terminal, accounting for almost a fifth of the country’s container traffic. Read more

Milestone buys half of IT park in Pune for Rs160 crore

Private equity firm Milestone Capital Advisors has acquired half of an IT park building in Kharadi business district of Pune for over Rs160 crore, reports Economic Times. Milestone has entered this transaction with an entry yield of around 9.5% to the property. The building is next to EON IT Park and all of its 2.30 lakh sq.ft office space is leased to multinational companies with periodic rental escalations. Read more

Tata to carve out engineering division of its power company

The Tata Group is said to be exploring plans to hive off the strategic engineering division (SED) of Tata Power Company as part of a strategy to consolidate its defence businesses, reports ET. Tata Power’s SED division designs, develops and produces strategic defence systems. It is a prime contractor to the ministry of defence for indigenous defence production. Read more

Saudi Arabia favours NY for Aramco IPO

Saudi Arabia favours New York for the main foreign listing of state oil giant Aramco, even though some financial and legal advisers have recommended London as a less problematic and risky option, people familiar with the matter told Reuters. Read more

Dixon Tech to raise Rs700 crore through IPO in September

Contract manufacturer Dixon Technologies plans to hit the capital markets in the first week of September for raising nearly Rs700 crore through a public offer, which will make the Noida-based company the first Indian mobile phone producer to be listed since the launch of the “Make in India" programme, reports ET. Read more