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Deals Buzz: Tata Group to take on Bigbasket and Amazon in online grocery retail

LiveMint logoLiveMint 19-09-2017 Kavya Kothiyal

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

Ford, Mahindra examine strategic alliance, 22 years after first partnership

Indian auto conglomerate Mahindra & Mahindra Ltd and Detroit-based Ford Motor Co. on Monday said they were exploring a strategic alliance to leverage each other’s strengths to address rapidly emerging challenges in the global automobile industry, reports Mint. The agreement between the two companies will allow them to combine their mutual strengths during a period of unprecedented transformation in the automotive industry, the companies said in a joint statement. Read more

Blue Lotus Capital fund raises $15 million

Blue Lotus Capital, an asset management company focusing on PIPE (private investments in public enterprises) strategy, has raised $15 million for its second outing, reports Mint, citing the Blue Lotus Capital Multibagger Fund’s senior company executive. The new fund will focus on investing in listed small and medium enterprises (SME). Blue Lotus Capital was founded by S. Harikrishnan, earlier a managing director at SME-focused private equity fund Avigo Capital. Read more

China’s GCL and Mysun partner for India’s rooftop solar retail play

Attracted by India’s solar rooftop market potential, GCL System Integration Technology Co. Ltd, one of China’s largest solar equipment maker, will partner with India’s MYSUN to tap the retail end of the market, reports Mint. The plug and play model is being explored wherein the firms will finance, deliver, install and service solar kits. Read more

NHAI IPO? Nitin Gadkari says confident of going public this year

In an attempt to raise Rs10 trillion for large infrastructure projects, the National Democratic Alliance (NDA) government is looking at measures including public listing for state-run National Highways Authority of India (NHAI). Transport minister Nitin Gadkari said at an event in Mumbai that the government wants to take NHAI public and is working on the proposal, PTI reported. Read more

Canada’s CDPQ in talks with Prestige to invest $200m

Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) is in advanced talks with Prestige Group to invest as much as $200 million in the commercial real estate assets of the Bengaluru-based real estate developer, marking its first investment into India’s property sector, multiple sources close to the deal told Economic Times. Read more

IiAS supports Airtel-Telenor merger

Proxy advisory firm Institutional Investor Advisory Services (IiAS) supports the merger between Bharti Airtel and Telenor India that comes up for shareholder voting on Tuesday. In contrast with Stakeholders Empowerment Services (SES), another such firm, IiAS said in a report to shareholders that diligence done by the audit firms was adequate, reports Economic Times. Read more

Vodafone, BSNL partner handset companies for deals on feature phones

Vodafone India and state-owned Bharat Sanchar Nigam (BSNL) are roping in domestic handset vendors to offer spruced-up deals on feature phones as they step up efforts to prevent their customers from switching to Reliance Jio Infocomm, reports Economic Times. Read more

IDFC Alternatives exits Mytrah Energy

India Infrastructure Fund (IIF), managed by IDFC Alternatives Ltd, has successfully sold its investments in Mytrah Energy (India) Pvt. Ltd, the firm said in a statement on Monday, reports Mint. IIF is a focused investor in the infrastructure space and has invested across asset classes such as roads, thermal and renewable power. Mint had first reported IDFC’s plans to exit Mytrah in April. Read more

Tata Group to take on Bigbasket and Amazon in online grocery retail

Tata Group is venturing into online grocery business under Starquik brand, taking on Amazon and Bigbasket in a nascent yet rapidly growing market. A pilot venture will be rolled out within the next two months as an online channel for Trent Hypermarket, an equal joint venture between Tata and British retailer Tesco, reports Economic Times, citing two people privy with the development. Read more

Buyer seeks $312 million stake in Tata Motors

Citi is handling the process for a prospective buyer to acquire up to Rs20 billion ($311.8 million) worth of shares in Tata Motors Ltd on Tuesday, according to a term sheet seen by Reuters.

A source familiar with the transaction said the buyer was Tata Sons, the holding company behind the Tata conglomerate which owns nearly 35% of the vehicle maker through its affiliated companies and trusts, reports Reuters. Read more

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