Tech Mahindra invests $3 mn in fast-growing US tele-medicine startup

Tech Mahindra, one of India’s to six IT service providers, said it has invested $3 million, around Rs 23 cr, in a fast-growing tele-medicine start-up based in Plano, Texas. The Indian company, which gets a 6% stake in exchange for the investment, has an option of raising its stake to 14% by January 2021 by […]

Blackstone invests Rs 1,750 cr into Future Lifestyle Fashions

Kishore Biyani owned Future Group announced that US-based private equity firm Blackstone will take a 6% stake in its fashion/garments unit, Future Lifestyle Fashions, by investing ₹1,750cr ($250 mln) into Ryka Commercial Ventures Pvt Ltd, the holding company of FLFL, and directly into FLFL. Blackstone joins other groups such as L Catterton, Premji Invest and […]

Airtel Africa gets $200 mln investment from Qatar Investment Authority

Airtel Africa Ltd, the holding company of Bharti Airtel’s Africa operations, said Qatar Investment Authority, the sovereign wealth fund of Qatar, has agreed to invest USD 200 million through a primary equity issuance in the company. The proceeds will be used to further reduce Airtel Africa’s existing net debt, it said. The investment from QIA […]

Vodafone Idea promoters to invest Rs 18,250 cr via rights issue

Vodafone will invest Rs 11,000 cr into its Indian subsidiary Vodafone Idea, while its co-promoter Aditya Birla Group will chip in Rs 7,250 cr, the company said today. In total, Vodafone Idea plans to raise Rs 25,000 cr from all its shareholders by selling shares. In case any of the existing shareholders waives their right […]

Infosys doubles investment in startup TidalScale to $3 mln

Outsourced services provider Infosys said it has made yet another investment of $1.5 mln in start-up software company TidalScale, taking the total to $3 mln. TidalScale creates software that helps ‘merge’ multiple servers (or powerful computers) into a giant and super-powerful unit. Traditionally, the need for more power has been met by ‘clustering’ servers together. […]

GIC buys stake in Provenance’s Four Seasons project in Worli

GIC, Singapore’s sovereign wealth fund, is acquiring a “significant minority stake” in Provenance Land, said the developer that partners with Canada’s Four Seasons Hotels to run the Four Seasons Hotel in Mumbai. The investment will be in an entity that owns the property on which the hotel operates, another under-construction Four Seasons branded apartment complex […]

Temasek investment to boost growth – AU Bank MD

AU Small Finance Bank said it received its shareholders approval for Singapore-based Temasek to invest around Rs 1,000 cr in the bank for a stake of around 5%. “This is the largest primary capital infusion in AU Bank and its first ever since their last raise in fiscal 2012,” said the bank, which went public […]

PE player L Catterton buys 10% in Future Lifestyle, owner of Brand Factory, Central

L Catterton Asia, the Asian unit of the consumer‐focused private equity firm, will take a stake of around 10% in Future Lifestyle Fashions Ltd, the company that operates the Brand Factory and Central fashion stores in India. The valuation or the amount invested was not revealed. However, Future Lifestyle Fashions has an equity market value […]

Singapore-based Gamnat to invest Rs 1,000 cr in Godrej Properties

Real Estate player Godrej Properties said Singapore-based Gamnat Pte Ltd wil invest Rs 1,000 cr in the company. The investment will be carried out at  a share price of Rs 783.50, roughly equal to today’s opening price. Shares of the company shot up to Rs 813.55 after the news was announced, and are currently trading […]

Godrej Properties taps Fund Management to co-develop Godrej Two tower

Godrej Properties Ltd said Godrej Fund Management will invest into its ‘Godrej Two’ commercial building project in Vikhroli. Godrej Fund Management was set up by the real estate company three years ago primarily with the purpose of raising funds for its real estate projects. It is currently a separate and distinct entity. Financial details, such […]

Singapore’s GIC Realty looking to invest in Prestige Estates’ office business

Bangalore-based real estate player Prestige Estates Projects said Singapore-based GIC Realty Pte Ltd, the country’s sovereign wealth fund, has signed a term sheet to explore the possibility of acquiring a ‘significant minority’ stake in the Indian company’s commercial buildings business. The term sheet is to explore an investment by Reco Jade Ind Pvt Ltd, a […]

Hedge fund Kora Management invests in Satin Creditcare

Satin Creditcare Network Ltd, one of India’s largest microfinance companies, said it has received an investment of Rs 80 cr from US-based hedgefund Kora Management. Kora’s investment is part of the latest funding of Rs 205 that the company raised from institutional investors that also included the promoters of IndusInd Bank and NMI, an existing […]

OrbiMed Asia invests $7.5 mln more in Vivimed Labs unit

Vivimed Labs said it will receive $7.5mn investment from OrbiMed Asia into its API business as a follow on to the $42.5 mn invested in September 2017. At the time, Vivimed has said that the proceeds will be utilised for debt reduction at the parent entity level as well as for expanding the API business. […]

Dalmia Group, Nisus invest in Greater NOIDA real estate project

Fund manager Nisus Finance Services Co Pvt said it, along with a Dalmia Group’s Landmark Holdings, has invested Rs 50 Cr in Casa Royale & Sanskriti, a project by Noida based Earthcon Infracon projects at Sector-1, Greater Noida, Uttar Pradesh. Landmark Holdings is the real estate investment arm of the Dalmia Group, one of India’s […]

Mirc Electronics raises Rs 144 cr from pvt investors for expansion

Mirc Electronics, which makes Onida brand of consumer durables, said nine private investors will put in Rs 144.12 cr in the form of equity investments into the company. The company will issue 1.92 crore equity shares and 1.92 crore convertible warrants at Rs 37.53 to these investors. Shares of Mirc Electronics were trading at Rs […]

SSG Capital increases stake in Cox & Kings group

Cox and Kings said Private Equity firm SSG Capital acquired the 34.42% stake held by Rohatyn Group in its subsidiary Prometheon Holdings (UK) Limited. SSG Capital Group also owns 2.72% stake in Cox & Kings Ltd. Prometheon Holdings is the Holding company of Holidaybreak, which in turn operates brands PGL, NST, EST, Travel Works and […]

Ruchi Soya Industries sold to Devonshire Capital

Ruchi Soya Industries said global private equity player Devonshire Capital will buy 51% of the company and 100% of certain of its ‘branded packaged oils distribution business’. The money will be substantially utilized for payment to all lenders over a period of time, it said. Devonshire will pay Rs 4,000 cr for the branded packaged […]

Reliance Capital to get Rs 300 cr from IREDA for lending to renewable sector

Anil Ambani Group’s Reliance Capital Indian Renewable Energy Development Agency Limited (IREDA) will make available Rs 300 cr for lending to renewable energy and energy efficiency projects. IREDA is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). Reliance Commercial Finance Limited, the company subsidiary that operates […]

Bharti Airtel sells 10% of Infratel to KKR, CPPIB at Rs 325 per share

Bharti Airtel, India’s largest telecommunications services provider, said it sold 10.3% of its tower unit Bharti Infratel to funds advised by US private equity firm KKR and Canada Pension Plan Investment Board at Rs 325 per share. The transaction has been done at a premium of around 3% to the stock’s opening price of Rs […]