MC Insider: Wedding bells for founder, pampered fund manager, narco tips, upset executive, and more

Hello folks! We have lots of chatter from Deal Street this Wednesday and so let’s start off with the buzzing pharma and healthcare space. Rumour has it that a pharma player which was in the news recently for the wrong reasons is now in fund-raising mode. Pray why? It needs moolah for some of its other ventures, we are told. So what's the plan of action? Well, a stake sale in one of its subsidiaries may be on the cards. We are wondering if it will be able to tap marquee investors once again.

One of the most anticipated deals in the healthcare space appears to have been put on the backburner for now, with the promoter having second thoughts about putting this venture on the block. What led to the pullback? Valuations aside, there is also buzz of a former shareholder throwing his hat in the ring, with funds from private equity and other backers to buy out the company. Considering the acrimonious past involving the two parties, perhaps this is one face-off they didn't want. It would have been sweet revenge for the bidder, but alas, it's not happening at least for now, based on the grapevine.

A deal between these companies recently raised eyebrows not just for the price but also the relations between the parties concerned, with the founder of one company married to a top executive of another. It appears that there could be a second 'related party' here to contend with, as rumours are rife that the founder of the latter has married or is about to marry a top executive of the former. We can’t be sure but all's fair in love, war and la familia, we guess!

Dealmaking and funding continue to happen at a snail's pace in India's startup capital Bengaluru. While marquee funds are sitting on a lot of freshly raised funds, they are yet to make large capital calls for this money, as their existing portfolio isn't faring too well. Many are now cutting million-dollar series A cheques, preferring to play in the early stage. Unicorn and decacorn rounds appear to be firmly on the wane.

We've heard of many perks that fund managers enjoy, but a recent high-profile hire by a top AMC takes the cake. The AMC in question has agreed to pay a hefty deposit to the landlord. Wait for it …the interest alone of which will service the rent. Now, that that headache is gone, we hope the fund manager can get busy creating value for unitholders.

A pharmaceutical company, which recently won government permit for opium processing, is planning to go to the Narcotics Bureau for safety tips and ideas on how to prevent trafficking once they are operational. A company insider says the firm aims to be a lone player in business and hence expects strict adherence to rule. "A clean track record on compliance will help us in the long run," said a person in the know.

A top executive at the Indian arm of an American technology conglomerate has decided to move on. He left a long note on social media announcing his decision to quit the company. He will, however, spend the next few months helping with the transition. The sudden departure of the executive who has also acted as the company's spokesperson has left many scratching their heads. We hear that he has been unhappy for quite a while, ever since he was overlooked for the top job. The said executive was the original choice to be the organisation's India head, but the company roped in a new MD at a much higher pay scale. Upset with the developments and missed opportunities, the said executive has finally decided to stop sulking over spilt milk and move on.

We hear that a global agency let go of a significant business worth almost half a billion dollars. The company didn't pick up the RFP (request for proposal) by this flushed-with-funds client because of the organisation's track record and reported human rights violations. Agencies are often criticised for not walking the talk that they so boldly push on behalf of clients, tackling issues like gender rights, equality, freedom, climate change and whatnot in advertising. It seems this company is moving from just ads to acts.

An independent creative director was stunned when he saw the cost for resizing videos and photos from a production house that he was working with. The project was for a very well-funded startup. The marketer had no problem in shelling out about Rs 2 lakh to resize videos for various digital media platforms. At some point, the creative director jumped in and informed the founder that he was overpaying. The founder insisted that he didn't want to cut corners and happily took care of the bill.