You are using an older browser version. Please use a supported version for the best MSN experience.

Deals Buzz: Bharti Enterprise drops plan to form alliance with Tata group

LiveMint logoLiveMint 04-08-2017 Kavya Kothiyal

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

Bharti Enterprise calls off plan to form alliance with Tata group

Bharti Enterprises has dropped a plan to pursue a mega-alliance with the Tata Group’s telecom, overseas cable and enterprise services, and direct-to-home TV businesses, reports Economic Times. Both sides discussed a possible merger between unlisted Tata Teleservices and Tata Sky and listed Tata Communications with Bharti Airtel, including its wholly-owned DTH arm. Read more

The reports adds that the Tatas have independently reached out to DTH partner Rupert Murdoch’s 21st Century Fox and Temasek to increase their stake.

Mint was the first to report on 14 July that Tata group has begun discussions to sell an additional stake in Tata Sky, its DTH television arm, to joint venture partner Twenty-First Century Fox Inc. Read more

Star Health Insurance planning to raise Rs3,000 crore

Star Health and Allied Insurance Co. Ltd, which focuses on health, travel and accident insurance, is looking to raise up to Rs3,000 crore in funding through primary and secondary stake sales, reports Mint, citing two people directly aware of the company’s fund-raising plans, on the condition of anonymity. In 2010, ICICI Venture invested Rs120 crore in Star Health for a minority stake. Read more

CVC capital hires Carlyle’s Mohit Goyal

CVC Capital Partners recently hired Mohit Goyal as an investment director at its new Mumbai office, as the private equity (PE) firm prepares to set up its India investment team, reports Mint. Goyal was previously working with Carlyle Group, the American PE heavyweight, at its Mumbai office as a senior associate in the buyout team. This is the second hire by CVC in India after Amit Soni, who was recently taken on as managing director. Read more

JSW Steel considers Japanese investment to help it acquire distressed Indian entities

Steel tycoon Sajjan Jindal’s JSW Steel Ltd will consider an investment from Japan’s second-biggest mill as the Mumbai-based firm looks to acquire distressed companies in India, according to joint managing director Seshagiri Rao. JSW Steel plans to almost double the capacity at existing plants and pick up distressed assets as mills in India race to benefit from Prime Minister Narendra Modi’s emphasis on building smart cities, an industrial corridor and a railway freight network. Read more

M&M gets nod to sell 13.74% stake in Mahindra Logistics IPO

Mahindra and Mahindra Ltd (M&M) on Thursday said that a committee of its directors has approved the sale of 13.74% stake in subsidiary Mahindra Logistics Ltd through an initial public offering (IPO). The IPO will see the sale of 9.66 million shares, representing 13.74% stake, a company statement to stock exchanges said, reports Mint. Read more

Lendingkart raises $10 million to grow lending business to SMEs

Lendingkart Finance Ltd, the non-banking financial company (NBFC) which is part of the Lendingkart Group, has raised $10 million or Rs67 crore in debt from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions, reports Mint. The corpus will be used to grow its lending programme to small and medium enterprises (SMEs) and widen its pan-India presence, the company said on Thursday. Read more

Mercator in talks to buy Dredging Corp of India

Mercator Ltd (earlier known as Mercator Lines Ltd), which operates shipping, dredging, coal and oil and gas businesses, has shown preliminary interest in acquiring state-owned Dredging Corp. of India (DCIL), reports Mint, citing two people aware of the development. The sale of DCIL is part of the central government’s aggressive divestment plans to raise around Rs72,500 crore this fiscal year. Read more

Cochin Shipyard IPO subscribed 76.1 times on last day

The initial public offering (IPO) of state-run shipbuilder Cochin Shipyard Ltd was subscribed 76.1 times on Thursday, the final day of the public offering, data from stock exchanges shows, reports Mint. Cochin Shipyard had set a price band of Rs424-432 per share for the initial share sale. Read more

SBI-led banks order forensic audit of Videocon’s accounts

A State Bank of India (SBI)-led consortium of lenders has ordered a forensic audit of Videocon Industries’ accounts to find out whether the company foundered because of adverse business conditions or financial mismanagement, reports Economic Times. Loan recast proceedings under the Insolvency and Bankruptcy Code (IBC) could be kicked off once KPMG finishes its report. Read more

Bharti infratel and Indus towers objects RCom-Aircel merger

Tower companies Bharti Infratel and Indus Towers are the latest to object to a proposal to merge Reliance Communications Ltd’s wireless business with Aircel, being heard in the National Company Law Tribunal (NCLT), reports Economic Times. Read more

Naspers looking to exit Travel Boutique online

South Africa-based internet and media group Naspers is looking to exit a five-year-old investment it made in B2B travel platform Travel Boutique Online (TBO), reports Economic Times. Naspers is seeking a valuation of Rs300 crore for TBO. TBO’s founders, Ankush Nijhawan and Gaurav Batra, have also offered to buy the stake. Read more

Infosys to acquire Brilliant Basics for Rs62.76 crore

Software services firm Infosys has said it would acquire London-based firm Brilliant Basics for Rs62.76 crore, reports Business Standard. The acquisition cost included earn-out and employee retention amounts and the process is likely to be concluded by the end of the July-September quarter. Read more

More From LiveMint

image beaconimage beaconimage beacon