Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
SoftBank Vision Fund in talks for $100 million investment in Sun Mobility
SoftBank Vision Fund, the $100 billion technology investment fund of Japan’s SoftBank Group, is in early talks to invest as much as $100 million in Reva Electric founder Chetan Maini’s latest venture Sun Mobility, reports Mint, citing two people aware of the development.
Sun Mobility is a joint venture between Chetan Maini’s Virya Mobility 5.0 and Khemka family’s Sun Group, which has investments across sectors such as energy, mining and real estate. Read more
Power2SME raises $36 million from Inventus Capital and others
Power2SME, a platform that services the raw material needs of small and medium enterprises (SMEs) in the manufacturing sector, has raised $36 million from investors Inventus Capital Partners, Accel, Kalaari Capital, International Finance Corp. (IFC) and Infosys chairman Nandan Nilekani, the company said on Tuesday, reports Mint. IFC, a unit of World Bank, has joined as the new investor in this round. This marks the fifth round of institutional funding for the six-year-old company. Read more
Cloud storage start-up Minio raises $20 million
Palo Alto- and Bengaluru-based cloud storage start-up Minio Inc. on Tuesday said it has raised $20 million in a funding round led by Dell Technologies Capital, General Catalyst Partners and Nexus Venture Partners, reports Mint. Intel Capital, AME Cloud and California-based entrepreneur Steve Singh participated in the series A round. This follows the $3.3 million seed funding the firm raised from Nexus and General Catalyst in June 2015. Read more
Amplus Capital to raise Rs250 crore for third real estate-focused fund
Amplus Capital Advisors Pvt. Ltd, part of the Lalbhai Group whose flagship company is Arvind Ltd, plans to raise its third real estate-focused fund which would offer structured debt financing to residential projects in top cities, reports Mint. The firm will start raising the new Amplus Realty Fund III around mid-October and plans to mop up Rs200-250 crore. Read more
Madison India Capital closes fourth fund at $230 million
Private equity (PE) firm Madison India Capital Tuesday said it has achieved the final close of its fourth fund, Madison India Opportunities IV, by raising approximately $230 million, reports Mint. Madison India Capital is an India-based PE firm focusing on investments in consumer, business services, technology and financial services industries. Read more
ICICI Lombard IPO subscribed 2.97 times on final day
The initial public offering (IPO) of general insurance firm ICICI Lombard General Insurance Co. Ltd was subscribed 2.97 times on Tuesday, the final day of the share sale, data from stock exchanges showed. Read more
Canada Pension Funds to invest Rs4,000 crore in India
Canada-based pension funds PSP Investments and Ontario Teachers’ Pension Plan (OTPP) are in talks to invest Rs4,000 crore in an investment platform co-promoted by the government of India-sponsored National Investment and Infrastructure Fund (NIIF), reports Economic Times, citing persons directly familiar with the matter. The funds could invest in a special purpose vehicle (SPV) floated by NIIF to fund toll- and annuity-based road projects, they said. Read more
Save Solutions raises $6 million in series A from Incofin
Gaya-based rural financial services provider Save Solutions Pvt. Ltd (SAVE) on Tuesday said it has raised $6 million in a series A round of funding from international impact investor Incofin Investment Management, reports Mint. Incofin, which has almost $850 million of assets under management, has invested in SAVE through its latest fund AGRIF, which focuses on agricultural and financial services businesses. Read more
Alibaba-backed Best raises $450 million in IPO
Chinese logistics firm Best Inc priced its US initial public offering at the bottom of expectations, raising $450 million after it revised terms of the deal to cope with tepid investor demand, reports Reuters.
Up to $932 million had originally been expected for the listing, underscoring how some fast-growing companies may have to temper their expected valuations to lure investors burned by recent underperforming IPOs. Read more
Toshiba selects Bain group as buyer for its memory chip business: report
Japan’s Toshiba Corp. has selected a group led by US private equity firm Bain Capital to buy its prized memory chip unit, reports Reuters, citing three people with knowledge of the talks, on Wednesday, the latest dramatic twist to a highly contentious auction.
The decision was made by Toshiba’s board and will be announced later on Wednesday, according to the Reuters report, citing two sources. The people declined to be identified as they were not authorised to speak on the matter. Read more