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10 December 2018
Corporate M&A

“Zee Learn Limited announced [in February] that it has signed definitive agreements to Invest Rs 200 crores in MT Educare Limited through a preferential allotment of equity shares (face value Rs 10 per share) for a stake of 44.53% in the expanded share capital of MT Educare Limited, the company said in a stock exchange filing,”, according to NDTV.

10 December 2018
Private equity / VC

“Hindustan Infralog Pvt. Ltd, a joint venture between Dubai-based DP World and the National Infrastructure Investment Fund (NIIF), has agreed to acquire a 90% stake in Warburg Pincus-backed Continental Warehousing Corporation (Nhava Seva) Ltd,” according to VCCircle.

10 December 2018
Private equity / VC

“Pipa + Bella, a private label non-precious jewellery e-tailer, has raised $1 million (Rs 6.4 crore) led by Fireside Ventures, early-stage consumer-focussed venture fund, a company statement said,” reported VCCircle.

10 December 2018
Corporate M&A

“Procter & Gamble has agreed to acquire Merck KGaA’s consumer health unit for 3.4 billion euros ($4.2 billion), giving it vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets,” reported CNBC. The transaction involved the acquisition of Merck Limited, a listed Indian company, through Procter & Gamble Overseas India B.V, including 3,300 Merck employees. A mandatory tender offer to minority shareholders will be made for the Indian entity.

10 December 2018
Private equity / VC

“Mumbai-based enterprise technology firm Seclore Technology Pvt. Ltd has raised $12 million (around Rs 80 crore) in Series B funding from Sistema Asia Fund, Helion Venture, VentureEast and India Alternatives,” VCCircle.

10 December 2018
Private equity / VC

“The Federal Bank board has approved 26% strategic investment by private equity player True North in its wholly owned subsidiary - FedBank Financial Services (FedFina), a move that will help the company to grow its loans,” according to reports.

10 December 2018
Private equity / VC

“Education services provider Nspira Management Services Pvt. Ltd has raised $75 million in a round led by Morgan Stanley Private Equity Asia and Banyan Tree Growth Capital II, the company said,” reported Mint.

10 December 2018
Corporate M&A

“Greenko Group has agreed to buy Orange Renewable from Singapore’s AT Capital Group at an enterprise value of $1 billion, Greenko Group founder Mahesh Kolli said,” reported Mint in June.

10 December 2018
Private equity / VC

UK insurance company Legal & General Group Plc sold its 26% stake in IndiaFirst Life Insurance to private equity giant Warburg Pincus for Rs 710.54 crore, reported moneycontrol.

10 December 2018
Law firms

Cyril Amarchand Mangaldas Delhi partner Harsh Kumar, who had resigned in September, has joined Shardul Amarchand Mangaldas.

07 December 2018
Private equity / VC

“GIC is ramping up its exposure to Indian real estate, with an investment firm managed by the Singaporean sovereign wealth fund buying a stake in Mumbai-based developer Godrej Properties Ltd for about Rs 1,000 crore ($150 million),” according to Mingtiandi, giving it a 5% stake in the company, which issued fresh shares for the acquisition.

06 December 2018
Private equity / VC

“PremjiInvest, the family office of Wipro chair Azim Premji, has picked up 6% stake in Future Retail Ltd, the company said. PremjiInvest bought the stake in a bulk deal from Cedar Support Services Ltd, a subsidiary of Bharti Ventures Ltd,” according to Mint.