Deals Buzz: Tata Realty looking to buy SBI-Macquarie’s road assets


Budget hotel aggregator Oyo, owned by Oravel Stays Pvt. Ltd, has raised Rs.413 crore (around $62 million) from Japan’s SoftBank Group Corp. at a time when investors have become extra-cautious about their bets on Indian start-ups, reported Mint. Documents filed by Oyo with the Registrar of Companies and reviewed by Mint confirm the investment. People familiar with Oyo’s fundraising plans said that the hotel aggregator had been looking to raise $100 million. None of Oyo’s other existing investors—Greenoaks Capital, Sequoia Capital and Lightspeed Venture Partners—participated in this round of funding, according to the documents.

Mint had reported in July that Oyo was looking to raise over Rs.413 crore through a proposed rights issue of shares to its existing shareholders.

Novelis raises $1.15 billion through bond issuance in US

Aditya Birla Group company Hindalco’s Novelis has raised $1.15 billion through a bond issuance in the US, reported Mint. The bonds were raised by Novelis Inc.’s subsidiary Novelis Corp. Novelis is a subsidiary of Hindalco Industries Ltd, the flagship company of the Aditya Birla Group. Hindalco acquired Novelis for around $6 billion in 2007.

The funds were raised by issuance of bonds with a duration of eight years and an interest rate of 6.25%. Novelis had hired investment banks Citi, Morgan Stanley, HSBC, Deutsche Bank, Barclays and Bank of America Merrill Lynch to manage the bond issuance.

Cosmetic and hair care product maker Nature’s Essence on sale for Rs600 crore

Nature’s Essence Pvt. Ltd, a New Delhi-based company that makes and sells cosmetics and hair care products, is up for sale, reported Mint. Promoters want as much as Rs.600 crore for the company, which ended 2015-16 with a revenue of around Rs.200 crore.

Nature’s Essence has hired advisory firm Deloitte Touche Tohmatsu India Pvt. Ltd to find a buyer. Nature’s Essence could attract the interest of consumer packaged goods giants such as Godrej Consumer Products Ltd, Dabur India Ltd, Marico Ltd and Emami Ltd, reported Mint..

Tata Realty looking to buy SBI-Macquarie’s road assets

Tata Realty & Infrastructure is in advanced talks with a private equity fund managed by Australia’s Macquarie Group and State Bank of India to buy two road assets, more than doubling its investment in three years, reported The Economic Times. SBI-Macquarie Infrastructure is looking to sell road assets it purchased in 2013. These include the Farukhnagar-Jadcherla highway in Andhra Pradesh and Trichy Tollway, a portion of National Highway 45 that connects Chennai and Tiruchirappalli.

The infrastructure fund of Indian and Australian banks is expecting a total enterprise valuation of Rs.1,000-1,200 crore. The deal is expected to be concluded in a few weeks.

On Tuesday, Mint reported that Tata Realty is looking to invest Rs.10,000 crore in infra projects. The Mumbai-based firm intends to build on its infrastructure project portfolio and will invest Rs.9,000-10,000 crore over the next few years in light rail urban transport, airports, highways and roads, and ropeway projects..