Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Flipkart boosts investments in logistics arm eKart
India’s largest online retailer Flipkart, which raised nearly $3 billion in 2017 from investors such as Japan’s SoftBank Group Corp., China’s Tencent Holdings Ltd, eBay Inc. and Microsoft Corp., has invested over $400 million in four separate tranches in its logistics arm eKart over the past four months, according to recent regulatory filings, reports Mint. Read more
Kedaara Capital in talks to buy Indian School Finance
Private equity fund Kedaara Capital Investment Managers Ltd is in talks to acquire a majority stake in Indian School Finance Co. Pvt. Ltd (ISFC), a Hyderabad-based non-banking financial company (NBFC), which lends to companies in the education sector, reports Mint, citing two people aware of the development. Read more
Ess Kay Fincorp raises $32 million from Norwest, Baring, Evolvence
US-based Norwest Venture Partners, Baring Private Equity India and Evolvence India have led a $32 million (Rs200 crore) equity investment in Jaipur-based vehicle and small and medium enterprise (SME) finance company Ess Kay Fincorp Ltd, the non-banking financial company said on Wednesday, reported Mint. Read more
Strong IPO momentum expected to continue in 2018
Indian companies raised a record Rs67,147 crore in 2017 through initial public offerings (IPOs), with 36 companies, including India’s biggest insurance companies, going public, reports Mint. Read more
HDFC to keep Rs1,575 crore from HDFC Standard Life IPO as special provision
Housing Development and Finance Corp. Ltd (HDFC) on Wednesday announced that it will make a special provision of Rs1,575 crore, using a part of the proceeds from the initial public offering (IPO) of HDFC Standard Life Insurance, reports Mint. Read more
HDFC-ADIA JV to invest $500 million in affordable housing
The joint investment platform of Housing Development Finance Corp. and Abu Dhabi Investment Authority is set to commit more than $500 million (Rs3,175 crore) by March to affordable and mid-income housing projects across India, HDFC chairman Deepak Parekh told The Economic Times. Read more
Naspers may partner Tencent to deliver $200 million to Swiggy
South African Internet group Naspers has emerged as the front runner to lead a $150-200 million investment in Swiggy, after SoftBank and Flipkart ended independent funding discussions with the online food-delivery platform, reports The Economic Times, citing three people briefed on the matter. Read more
Banks asked not to move NCLT against Jaiprakash Associates
The Reserve Bank of India has ordered banks not to initiate bankruptcy proceedings against Jaiprakash Associates possibly in anticipation of legal complications after a Supreme Court ruling barred its promoters from selling or transferring assets, reports The Economic Times, citing bank executives. Read more
Wall Street banks top mergers and acquisition deal table
Wall Street banks dominated the mergers and acquisition advisory league table in 2017, with Morgan Stanley topping the list, while domestic heavyweights JM Financial and Arpwood Capital gaining top place in terms of advisory fee collection as acquisition spree of foreign investors pushed inbound M&As to a record high last year, according to The Economic Times. Read more
Cargill to broaden India portfolio, invest Rs15 billion in coming years
Cargill India is expanding its presence in the country and has prepared a plan to broaden its portfolio, which includes aqua feed and aqua premix, animal feed, plant for transfer fuels, strengthening edible oil brand, corn wet milling, and cocoa products for catering to the needs of chocolate making companies, reports Business Standard. Read more
Chinese co Fosun eyes Rs800 crore stake in Nitesh Estates
Shanghai-based Fosun Group is in advanced discussions to invest Rs800 crore ($125 million) in southern developer Nitesh Estates in what would be the Chinese conglomerate’s first M&A deal in the Indian real estate sector, reports The Times of India. Read more