Mumbai: CX Partners raises $250 million in first close of new fund
Indian private equity (PE) firm CX Partners has raised about $250 million for its second sector-agnostic fund, marking its first close, reports Mint, citing two people aware of the development
StanChart close to selling real estate principal finance unit to Actis: report
Standard Chartered is close to selling its real estate principal finance unit to private equity firm Actis, people with knowledge of the matter said, following the bank’s decision last year to exit the loss-making business,
Sequoia Capital sells Just Dial stake worth Rs35 crore
Venture capital firm Sequoia Capital on Wednesday sold a nearly 1% stake in local search engine Just Dial Ltd, data from stock exchanges showed, reports Mint. Based on Wednesday’s closing price on the BSE, the shares were worth around Rs35 crore.
Unilever Ventures invests Rs65 crore in IDG Ventures
Unilever Ventures, an investment arm of Unilever Plc, has put Rs65 crore into IDG Ventures India Fund during the year, demonstrating its intent to bankroll consumer-technology, innovation and digital startups,
Radhakishan Damani buys Novotel Imagica Khopoli from Adlabs
Radhakishan Damani, founder of supermarket chain DMart, has completed the acquisition of Novotel Imagica Khopoli, a five-star luxury hotel located in a theme park off the Mumbai-Pune expressway, from Adlabs Entertainment Ltd,
Andhra Pradesh to buy solar power from Kadapa plant
A key state utility has reversed its stand and will buy solar power from a large project, although at a lower rate than initially proposed, giving a boost to the renewable energy sector, which was being derailed by monopolistic distribution companies arm-twisting developers to lower tariffs,
Tiger Global plans to exit Ola after partially exiting Flipkart
After partially exiting e-tailer Flipkart, Tiger Global management is eyeing its second major exit in India—from cab aggregator Ola. In both cases, Japanese internet giant SoftBank is buying Tiger Global’s stake, reports Business Standard.
In August, SoftBank Vision Fund agreed to invest $2.6 billion in Flipkart, half of it in buying existing investors such as Tiger Global and Accel. Tiger Global now plans to sell 10-12% of its 12-15% stake in Ola for $400-500 million to SoftBank. Here’s a snapshot of Tiger Global’s investments and exits in India.
Cabinet clears changes to plug loopholes in insolvency code
The Union cabinet on Wednesday approved amendments to the Insolvency and Bankruptcy Code (IBC) to plug potential loopholes in the new corporate turnaround regime and to ensure rescued companies remain in reliable hands,
United Bank of India plans to raise Rs500 crore through bond issue
State-run United Bank of India plans to raise Rs500 crore through Basel III-compliant additional tier 1 bonds, reports The Telegraph. The bank’s capital base has seen a decline in the July-September quarter of 2017-18 compared with the previous year.
Retail investors rush to buy equity funds
Equity mutual funds have registered a net inflow of Rs15,218 crore in October, buoyed by strong participation from retail investors, according to data from industry body Association of Mutual Funds in India (Amfi). This has taken the total inflow into such funds to over Rs91,000 crore in the first seven months of the ongoing financial year,
Fresh OVL stake drill in Namibia
ONGC Videsh Ltd (OVL) is acquiring a 15% stake in a Namibian offshore oil block, reports The Telegraph. This is the second acquisition of OVL in the African nation. However, the overseas arm of state-owned Oil and Natural Gas Corp. did not disclose the deal
Paytm’s bank gets Rs122 crore in fresh funds
Paytm Payments Bank has received another Rs122 crore in fresh funds, taking its total capital allocation to Rs400 crore, according to filings made with the Registrar of Companies. Paytm founder and CEO Vijay Shekhar Sharma, who holds the payments bank licence, has put in the amount along with One97 Communications and One97 India Communications,
HDFC MF launches Housing Opportunities Fund
HDFC Mutual Fund has launched the Housing Opportunities Fund within a closed-ended structure to encash on emerging growth opportunities in the affordable housing space,
Fund-raising abroad gets easier for firms
India’s rating upgrade by Moody’s has not infused too much enthusiasm in the domestic bond markets but it would make it easier for companies to raise funds abroad, reports Business Standard. In the domestic markets, foreign investors have exhausted their limits in government and corporate bonds.