Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Fortis sale to be delayed further as Renuka Ramnath exits advisory panel
The already complicated bidding process for control of Fortis Healthcare Ltd received a jolt on Wednesday evening after Renuka Ramnath, a member of the advisory committee set up to recommend the most suitable suitor for the company, resigned, Mint reports.
According to the report, the advisory committee was expected to evaluate the bids at its meeting on 25 April, and give its recommendations to the board the next day. Ramnath’s resignation is expected to further delay the sale process.
Manipal-TPG combine submits revised offer for Fortis Healthcare
A day ahead of the bidding deadline for control of Fortis Heathcare Ltd, the Manipal Hospital Enterprises Ltd-TPG Capital combine submitted a revised bid offering to infuse Rs750 crore upfront and a new deal structure that would help mitigate the indebtedness at the firm, reports Mint.
BigBasket may invest in DailyNinja, Milkbasket
India’s largest grocery start-up BigBasket, which raised $300 million from Alibaba Group Holding Ltd earlier this year, is in early talks to make an investment in two smaller grocery delivery start-ups DailyNinja and Milkbasket, reports Mint citing three people aware of the discussions.
BigBasket is exploring a number of new initiatives, including the launch of a new subscription service, as it looks to expand aggressively and fend off Amazon India and Flipkart, which are trying to quickly expand their grocery businesses, the report said.
Alteria Cap raises Rs100 crore from SIDBI for Rs1,000 crore debt fund
Venture debt firm Alteria Capital Advisors LLP has raised Rs100 crore from Small Industries Development Bank of India (SIDBI) for its Rs1,000-crore debt fund, reports Mint citing a senior executive.
The venture debt fund announced a first close of Rs365 crore in March.
Infratel, Indus merge to form a tower giant
Bharti Infratel Ltd, the tower arm of India’s largest telecom operator, and Indus Towers on Wednesday agreed to merge their businesses to create the world’s largest tower company outside China, reports Mint.
According to the report, the merger will help Bharti Airtel Ltd, Vodafone India Ltd and Idea Cellular Ltd, which came together in 2007 to form Indus Towers, easily pare their stakes in the combined entity to raise funds to invest in their struggling telecom operations and cut debt.
Thriveni Earthmovers leads race for Lanco Infratech
Iron ore mine developer-cum-operator Thriveni Earthmovers has emerged as the highest bidder for debt-laden Lanco Infratech, reports The Economic Times citing people familiar with the development.
ABG Shipyard heading for liquidation
Banks, led by State Bank of India, are set to reject the offer made by Liberty House for ABG Shipyard, on grounds that there’s no upfront payment of cash, and that the bid itself is too low, reports The Economic Times citing two senior officials.
SoftBank to move ride-hailing stakes worth $20 billion to Vision Fund: report
Japan’s SoftBank Group plans to shift more than $20 billion of its investments in top ride-hailing companies including Uber Technologies Inc, Ola, Grab and Didi Chuxing into its Saudi-backed Vision technology fund, Reuters reports, citing The Financial Times.
PayMe India gets funds from Singapore investors
PayMe India, a Noida-based online lending platform, has raised $2 million from Singapore-based angel investors. Founded in 2016 by Mahesh Shukla, former financial analyst at Barclays, and Sandeep Singh, former executive at Genpact, the company offers short-term and long-term loans to SMEs, reports The Times of India.