Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
HDFC to raise up to Rs13,000 crore via QIP, to invest Rs8,500 crore in HDFC Bank
Housing Development Finance Corp. Ltd (HDFC) is planning to raise up to Rs13,000 crore via a qualified institutional placement (QIP) as it seeks to maintain its shareholding in its subsidiary HDFC Bank Ltd and bolster its capital base to meet the growing demand for home loans, reports Mint. Read more
Tata Steel board approves rights issue to raise Rs12,800 crore
Tata Steel Ltd on Tuesday said its board had approved a Rs23,500-crore capital expenditure plan to expand the capacity of its Kalinganagar facility by 5 million tonnes per annum (MTPA) to 8 MTPA. The board also approved a rights issue of Rs12,800 crore, parts of which would fund this expansion, reports Mint. Read more
JPMorgan unit to exit maiden India-focused real estate fund
JPMorgan Chase and Co.’s real estate investment arm is preparing to exit all four remaining investments made from its first India-focused realty fund, reports Mint, citing two people aware of the matter. Read more
SoftBank leads $120 million funding in Lemonade
SoftBank Group Corp. is betting that technology can overhaul the home insurance industry by leading a $120 million round in Lemonade Inc., reports Bloomberg. Read more
Ola acquires Foodpanda India from Delivery Hero, to invest $200 million
Ola, operated by ANI Technologies Pvt. Ltd, has acquired online food delivery startup Foodpanda India from its German parent Delivery Hero AG in an all-stock deal that will see the ride-hailing firm infuse $200 million in Foodpanda India’s operations, reports Mint. Read more
Airtel’s Rwanda unit to buy Millicom subsidiary Tigo Rwanda
India’s largest telecom operator Bharti Airtel Ltd on Tuesday said its subsidiary in Rwanda will buy Tigo Rwanda Ltd, making Airtel the second largest telecom firm in the African nation, reports Mint. Read more
Yes Bank, EIB invest $400 million in wind and solar projects
Indian private sector lender Yes Bank is betting big on clean energy sector in India, as it has jointly invested $400 million with European Investment Bank (EIB), a long-term lending institution of the European Union, in new solar and wind projects in the country, reports The Economic Times. Read more
Faircent raises Rs25 crore from Muthoot Fincorp, Incofin, others
Gurgaon-based P2P major Faircent on Tuesday said it has raised Rs25 crore in Series B investment from a clutch of investors. The latest funding, led by Incofin Investment Management, saw participation from all of Faircent’s existing investors as well, reports The Economic Times. Read more
CCI clears IndusInd-Bharat Financial merger
Fair trade regulator CCI has approved the scheme of amalgamation between IndusInd Bank and Bharat Financial Inclusion, reports PTI. Read more
Bidders for stressed assets have to provide funding source, cheques
Banks led by State Bank of India (SBI) have decided that bidders for stressed assets in the ongoing insolvency proceedings will have to disclose their source of funds and furnish a cheque for the bid amount to prove their bonafides and be eligible to participate, reports The Economic Times. Read more
IBC resolution of steel firms pushed to FY19
Indian lenders are likely to wrap up the resolution process of Bhushan Power & Steel, Essar Steel, Monnet Ispat & Energy and Electrosteel Steels only in the first quarter of the next financial year (FY19) and miss the initial deadline of December-end set under the Insolvency and Bankruptcy Code (IBC), reports Business Standard. Read more
Tata Steel plans to mop up $2 billion for expansion
Tata Steel plans to raise $2 billion in a rights offer to help add capacity in India, where demand for the alloy is forecast to triple in over a decade. The money will be used to build and buy mills as well as to repay debt, the company said in an exchange filing on Tuesday, reports Bloomberg. Read more