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Deals Buzz: IndiGo announces Rs1,125-1,175 band for planned QIP

LiveMint logoLiveMint 14-09-2017 Kavya Kothiyal

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

Zomato buys food delivery start-up Runnr in all-stock deal

Food technology start-up Zomato Media Pvt. Ltd has acquired delivery start-up Runnr as part of a widely expected, all-stock deal. It would help Zomato to significantly shore up its food delivery business, amid intense competition from rapidly-growing rivals such as Swiggy, reports Mint. The deal is expected to boost Zomato’s delivery capabilities and help the New Delhi-based start-up build a captive fleet of delivery personnel, a model which is very similar to Swiggy’s (Bundl Technologies Pvt. Ltd). Read more

Sachin Tendulkar-backed sports start-up Smaaash raises Rs280 crore

Sachin Tendulkar-backed sports-based entertainment company Smaaash Entertainment Pvt. Ltd has raised Rs280 crore (approximately $44 million) through debt and equity as the company looks to expand business, reports Mint, citing two people aware of the development. The funds raised will primarily be used for overseas expansion of the business and for acquisitions. Read more

SBI Life Insurance IPO aims for Rs70,000 crore valuation

SBI Life Insurance Co. Ltd on Wednesday said it would launch its Rs8,400 crore initial public offering (IPO) on 20 September. The share sale will close on 22 September, reports Mint. The insurer has priced its shares in the range of Rs685-700 apiece. At the upper end of this price band, the initial share sale values the firm at Rs70,000 crore. Read more

SBI is looking at listing more of its subsidiaries soon. The move may involve an initial public offer (IPO) for its credit card, mutual fund or investment banking arm. This was disclosed by bank chairman Arundhati Bhattacharya while announcing the Rs8,400 crore offer for sale (OFS) of shares in its life insurance arm, reports Times of India. Read more

Sixth Sense Ventures in talks to buy stake in Veeba Food Services

Sixth Sense Ventures, an early-stage consumer sector-focused fund, is in talks to buy a small stake in condiments and sauce company Veeba Food Services Pvt. Ltd, in a deal valuing the company at over $100 million (about Rs650 crore), reports Mint, citing two people aware of the development. In October 2016, Veeba Food raised $6 million in a Series B round of fund-raising from venture firms Saama Capital and Verlinvest. Read more

IndiGo announces Rs1,125-1,175 band for planned QIP

InterGlobe Aviation, which operates India’s top airline by market share IndiGo, on Wednesday announced a price band of Rs1,125-1,175 per share for its planned qualified institutional placement (QIP), reports Economic Times. It plans to sell 3.36 crore equity shares—a fresh issue of 2.24 crore shares, and an offer for sale of 1.12 crore shares by some promoter entities—in the QIP, the company said in a filing on 11 September. Read more

Unacademy raises $11.5 million from Sequoia India and SAIF Partners

Unacademy, a platform for educators to create multimedia content for free viewing by users, has raised $11.5 million from Sequoia India Capital Advisors and SAIF Partners, the company said on Wednesday, reports Mint. The company has 4,000 educators on the platform and a repository of over 50,000 online video lessons. Read more

Air India plans to take Rs3,250 crore loans for ‘urgent’ capital needs

National carrier Air India plans to take short-term loans of up to Rs3,250 crore to meet “urgent working capital requirements”, according to a document, reports PTI. The disinvestment-bound airline, which is staying afloat on taxpayers’ funds, expects to get the central government’s guarantee for the proposed borrowings shortly. Read more

Mytrah eyes start-up to up innovation quotient

In a bid to stay ahead of the curve in the rapidly evolving renewable energy space, city-based clean energy player Mytrah is planning to snap up a start-up that offers innovative solutions, Mytrah Group chief executive officer Vikram Kailas told TOI on Wednesday. Even as Mytrah scouts for a perfect buy, it is also mulling a collaboration with T-Hub to work and engage with multiple start-ups in the clean energy space. Read more

Airtel, SK Telecom tie up to work on 5G, improve network experience

Bharti Airtel Ltd on Wednesday said it has formed a strategic partnership with SK Telecom to leverage the South Korean telecom operator’s expertise in improving network experience, machine learning, big data and to provide a better experience to customers, reports Mint. Read more

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