Deals Buzz: Tata Steel top bidder for Bhushan Power, beats JSW with Rs170-billion offer

Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.

Idea Cellular board approves Rs3,500 crore QIP

Idea Cellular Ltd’s board on Wednesday approved a proposal to sell shares via a qualified institutional placement (QIP) to raise as much as Rs3,500 crore, reports Mint. On 4 January, Idea Cellular’s board had granted in-principle approval for sale of further equity of up to Rs3,500 crore and had set up a committee to evaluate and recommend to the board the routes for issuing further equity. Read more

Birla, Dalmia are said to be lead bidders for Binani Cement

Billionaire Kumar Mangalam Birla and an investor group led by Dalmia Bharat Ltd are emerging as the lead bidders for India’s Binani Cement Ltd, which is being sold under the country’s insolvency process, reports Bloomberg, citing people with knowledge of the matter. Read more

Danone to sell stake in Japan’s Yakult for $1.8 billion

Danone is selling about $1.8 billion worth of shares in Japan’s Yakult Honsha Co. as an activist investor pushes the world’s largest yogurt maker to boost its returns, reports Bloomberg. Read more

Airtel’s holding company for Africa explores IPO

India’s largest telecom operator Bharti Airtel Ltd on Wednesday said the unit managing its Africa operations is considering a potential initial public offering (IPO), the board said in a stock exchange filing. Read more

Piramal Finance to invest Rs3,000 crore in affordable housing projects

Piramal Finance Ltd, a unit of Piramal Enterprises Ltd, said it will focus on investments in affordable and mid-income housing projects across major cities with an initial investment pipeline of Rs3,000 crore, reports Mint. Read more

Liberty House keen on Bhushan Power bid but IRP says it’s late

UK-based Liberty House on Wednesday confirmed its intent to put in a bid for Bhushan Power & Steel, but the person in charge of the debt resolution process at the company said there was no plan to extend the bidding deadline that had already passed, reports The Economic Times. Read more

Tata Steel top bidder for Bhushan Power, beats JSW with Rs170-billion offer

Tata Steel seems to be emerging as the highest bidder for Bhushan Power and Steel. According to sources close to the development, Tata Steel has offered to pay Rs170 billion upfront to financial creditors against JSW’s Rs110 billion, reports Business Standard. Read more

Banks develop a taste for venture capital after Sidbi backed new VC firms

Raising a new fund from domestic investors has never been easier. Institutional investors—led by banks, insurance firms, family offices and Small Industries Development Bank of India (Sidbi)—are backing new venture capital and venture debt funds, reports Business Standard. Read morelivemint

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