Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
BPCL plans to raise $500 million via bonds
State-run Bharat Petroleum Corp. Ltd (BPCL) will shortly hit the market to raise $500 million to partly fund its planned capital expenditure of Rs8,000 crore for this fiscal, reports Mint, citing two people aware of the development. BPCL is expanding all its four refineries at Kochi, Bina, Mumbai and Numaligarh and the capital is being raised to fund these expansions. Read more
Alteria Capital gets Sebi nod for Rs1,000 crore venture debt fund
Former InnoVen Capital senior executives Vinod Murali and Ajay Hattangdi on Wednesday said their new venture, Alteria Capital Advisors LLP, has received approval from the Securities and Exchange Board of India (Sebi) to float a Rs1,000 crore (about $150 million) venture debt fund, reports Mint. Avendus Wealth, an arm of M&A adviser Avendus Capital, is helping the firm with the domestic fund raising. Read more
GIP-led investors to buy Equis for $5 billion in largest-ever clean energy deal
A group of investors led by Global Infrastructure Partners (GIP) will acquire Equis Energy for $5 billion. The other investors in the largest clean energy deal till date include Canada’s Public Sector Pension Investment Board (PSP Investments) and China’s CIC Capital Corp. among others, reports Mint. Equis Energy is present in the Asia-Pacific region, including Japan, Australia, Indonesia, the Philippines, India and Thailand. Read more
New India Assurance IPO’s price band set at Rs770-800 per share
State-owned general insurer New India Assurance Co. Ltd (NIA) on Wednesday said it will launch its Rs9,600 crore initial public offering (IPO) on 1 November. It is the second largest this year after General Insurance Corp. of India Ltd’s Rs11,372 crore IPO, reports Mint. The insurance company has set a price band of Rs770-800 per share for the IPO, which values it at Rs64,392-67,940 crore. Read more
Gunit Chadha to float NBFC with Rs100 crore
Gunit Chadha, former chief executive of Deutsche Bank, Asia Pacific, is returning to Indian financial services sector after five years, floating a non-banking finance company christened APAC Financial Services. It will have initial investment of more than Rs100 crore in equity from Chadha and the senior management team which he is assembling, reported Economic Times, citing two people familiar with the matter. Read more
IDFC to exit $2.6 billion infra, PE funds business
IDFC has started work on exiting the infrastructure and private equity funds management business, IDFC Alternatives, which has assets worth Rs17,000 crore ($2.6 billion), reports Economic Times. IDFC Alternatives consists of three asset classes—infrastructure, real estate and generic private equity investments—and has been one of the longest running risk investment managers in the country. Read more
SoftBank, other VCs back internet lobby group Indiatech
SoftBank, the Japanese internet and telecom giant, has agreed to back a new lobby group for Indian internet startups, Indiatech.org, reports the Times of India, citing people aware of the matter. Indiatech will see SoftBank providing it financial and strategic ammunition as local internet companies band together to fight foreign rivals. Read more