Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Edelweiss group targets $1 billion corpus for infrastructure fund
The Edelweiss group is raising its first infrastructure fund, targeting a corpus of at least $1 billion, its largest alternative asset fund till date, reports Mint, citing three people aware of the development. The fund will look at owning only operating assets in three sectors—roads, transmission and renewable energy. Read more
Centrum Capital to acquire FirstRand Bank’s microfinance business in India
Centrum Microcredit Pvt. Ltd, a subsidiary of Centrum Capital Ltd, on Wednesday said it has received a licence from the Reserve Bank of India (RBI) to start microfinance business, reports Mint. This is the second lending business the firm has recently entered, following its entry into affordable housing finance at the end of last year. Read more
New India Assurance IPO subscribed 1.04 times on first day
The Rs9,600 crore initial public offering (IPO) of state-owned general insurance firm New India Assurance Co. Ltd was subscribed 1.04 times on Wednesday, the first day of the share sale, reports Mint. Read more
Intas to close deal with Mallinckrodt’s US generics business
Intas Pharmaceuticals, backed by Temasek and ChrysCapital, has inched closer to arguably the biggest cross-border buyout by an Indian pharma company, emerging as the front-runner to acquire Mallinckrodt’s generics drug business in the US for $1.5 billion, reports Economic Times, citing people close to the ongoing discussions. Read more
EESL receives $434 million from global, multilateral agencies
State-run Energy Efficiency Services Ltd (EESL), which is implementing India’s e-vehicles and LED bulbs programme, has received $434 million in funding from global and multilateral agencies for its initiatives, reports Economic Times. Read more
CPSEs may be pushed to invest in Rs1.35 trillion recap bonds
The government may nudge cash surplus central public sector enterprises (CPSEs) to invest in the proposed Rs1.35 trillion bond offering to recapitalise public sector banks, reports Economic Times. A wider pool of investors for these bonds will ensure that the recapitalisation leads to a net infusion of funds in banks apart from boosting their capital. Read more
TransferWise raises $280 million from Old Mutual, IVP, others
London-based startup TransferWise has raised $280 million in a funding round led by asset manager Old Mutual Global Investors and Silicon Valley venture capital firm IVP, reports Reuters.
TransferWise, which makes it cheaper and simpler for consumers and small businesses to send money internationally online, will use the cash injection to expand its services and global presence, it said on Thursday. Read more