Deals Buzz: Capital First’s merger with IDFC Bank gets RBI nod3 min read . Updated: 06 Jun 2018, 12:00 PM IST
In other news, PremjiInvest, the family office of Wipro chairman Azim Premji, is in talks to invest $250 million in the holding company of Kishore Biyani's Future Group
Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Share sale plans of shrimp exporters face headwinds
Indian shrimp exporters, at least three of whom had queued up for initial public offerings (IPO), are likely to see the launches delayed as a result of increased US tariffs on Indian shrimp exports, softer global pricing and volatility in the Indian stock markets, reports Mint.
The exporters—Devi Sea Foods Ltd, Nekkanti Sea Foods Ltd and Sandhya Marines Ltd—filed their draft IPO prospectuses with market regulator Securities and Exchange Board of India (Sebi) in February and March.Collectively, these three companies are looking to raise around ₹ 2,100-2,200 crore, the report said. Read more
Unicorn India eyes first close of ₹ 200 crore for debt fund
Early-stage venture capital firm Unicorn India Ventures expects to hit the first close of its maiden venture debt fund at ₹ 200 crore by the end of July, reports Mint, citing a senior executive of the firm.
Mumbai-based Unicorn India is looking to raise ₹ 600 crore for the debt fund. Founded in 2016 by Anil Joshi and Bhaskar Majumdar, the firm VC firm had launched its maiden fund last November. Read more
Paytm’s Vijay Shekhar Sharma, venture capitalist Vickram unveil green fund
Paytm chief executive Vijay Shekhar Sharma and serial entrepreneur and venture capitalist Shailesh Vickram Singh on Tuesday launched an environmental protection fund, which will look to invest in start-ups, companies, and individuals working to mitigate pollution-related problems in the country, Mint reports.
The ‘Massive Fund’ will target environmental problems in the areas of food and agriculture, air and water pollution, renewable energy, recyclables such as e-waste and plastic, mobility, and sustainable development. Read more
McLeod Russel India to sell 8 tea estates for Rs331 crore
In the biggest sale of tea plantations in India in decades, McLeod Russel India Ltd on Tuesday announced it has reached an agreement to sell eight tea estates to M.K. Shah Exports Ltd, another tea producer, for ₹ 331 crore, reports Mint. Read more
Pune-based ABIL Group buys London building for close to £100 million
In a closely contested auction, Pune-based realty developer ABIL Group has acquired an eight-storey commercial building at Trafalgar Square in London for nearly £100 million, or Rs900 crore, from American global investment management corporation Black-Rock, reports The Economic Times. Read more
Capital First’s merger with IDFC Bank gets RBI nod
Clearing the decks for the merger of IDFC Bank and Capital First, the Reserve Bank of India has issued a no objection certificate to the deal, reports Mint.
In March, Mint reported that Capital First Ltd has received approval from the Competition Commission of India (CCI) for its merger with IDFC Bank Ltd which was still subject to approval from the Reserve Bank of India, citing stock exchange notification by the non-banking finance company. Read more
Insolvency: Miglani family offers to repay entire dues of Uttam Galva
The Miglani family, promoters of Uttam Galva Steels (UGSL), has agreed to repay the 100 per cent dues of the company and its subsidiaries to lenders, thus saving it from going under the hammer in the National Company Law Tribunal under the Insolvency and Bankruptcy Code, Business Standard reports. Read more
In May, Mint reported that the lenders to Uttam Galva Steels Ltd have asked the company to furnish bank guarantees amounting to at least 25% of its outstanding loans, citing sources. Read more
Premji mulls fresh $250m Future deal
PremjiInvest, the family office of Wipro chairman Azim Premji, is in talks to invest $250 million in the holding company of Kishore Biyani’s Future Group, reports The Times of India. This comes in the wake of the group’s discussions with technology giant Amazon to pick up a 10% stake in the brick-and-mortar retailer, the report added. Read more