Joining the “Boycott China” chorus, JSW Group, which has a net import of $400 million annually (majorly ‘clinker’, a form of cement) from china decides to bring it down to zero in the next 24 months.
Here are some latest financial news of private equity, venture capital and mergers & acquisitions:
Private Equity
BP invests $70 mn in Everstone-Lightsource’s green energy fund:
BP Plc has invested $70 million (Rs 524 crore) in a green energy fund managed by EverSource Capital.
(Source: VC Circle 07 July, 2020)
Qualcomm Ventures invest $97 mn in Reliance’s Jio for 5G Push:
Qualcomm Ventures has agreed to invest up to Rs 730 Cr in Reliance’s Industries Ltd digital unit – Jio Platforms Ltd, the Indian energy-to-telecom conglomerate.
(Source: VC Circle 13 July, 2020)
Real estate firm Habitat Ventures raises structured debt from alternatives investor:
Bengaluru-based developer Habitat Ventures Properties Pvt. Ltd has raised structured debt from the alternatives investment arm of a financial services group.
(Source: VC Circle 03 July, 2020)
Tata Capital PE fund to invest in Biocon subsidiary:
Tata Capital Ltd will invest Rs 225 crore ($30 million) in Biocon Biologics India Ltd, subsidiary of Biocon Ltd. Tata Capital Growth Fund will get a 0.85% stake in Biocon Biologics India Ltd.
(Source: VC Circle 31 July, 2020)
Advent International inks pact to acquire majority stake in RA Chem:
Advent International has agreed to acquire a controlling stake in RA Chem Pharma Ltd from Bengaluru-based Micro Labs Ltd.
(Source: VC Circle 30 July, 2020)
GIC trims stake in listed Mumbai residential developer:
Singapore sovereign wealth fund GIC Pte. Ltd has acquired an 8.89% stake in Mumbai based Godrej Properties Ltd.
(Source: VC Circle 31 July, 2020)
Singapore sovereign wealth fund GIC Pte. Ltd has acquired an 8.89% stake in Mumbai based Godrej Properties Ltd.
Venture Capital
Aye Finance raises debt funding from Germany’s Invest in Vision:
Aye Finance Pvt. Ltd, a Non-banking lender and financial technology firm – has raised Rs 125 Cr in debt funding from Invest in Vision.
(Source: VC Circle 06 July, 2020)
Co-living startup Zolostays collects Series C cheques from Investcorp, others:
Co-living startup ZoloStays Property Solutions Pvt. Ltd has raised $56 million (about Rs 419 crore) in a Series C round of funding.
(Source: VC Circle 07 July, 2020)
Ed-tech startup Vedantu scoops up $100 mn in Series D funding:
Vedantu Innovation Pvt. Ltd, which operates a live tutoring-focussed education-technology platform, has raised $100 million in a Series D funding round.
(Source: VC Circle 16 July, 2020)
Edtech firm iNurture raises debt funding from existing backer BlackSoil:
iNurture Education Solutions Pvt. Ltd, a provider of formal higher education programmes in India, has raised Rs 10 crore ($1.34 million) in debt funding from BlackSoil Capital Pvt. Ltd.
(Source: VC Circle 21 July, 2020)
Matrix Partners, SAIF invest in seed funding round of fintech firm Jodo:
Bharosepe Technology Services Pvt. Ltd, which operates financial-technology firm Jodo, has raised Rs 28.5 crore ($3.8 million) in seed funding.
(Source: VC Circle 24 July, 2020)
IFC to offer $30 mn to vaccine maker Biological E:
The International Financial Corporation, the private sector investment arm of the world Bank, has proposed to provide a loan of up to RS 224 Cr to Hyderabad – based vaccine manufacturer Biological E Ltd.
(Source: VC Circle 27 July, 2020)
Steadview Capital picks up $85-mn stake in Freshworks:
Alternative investment firm Steadview Capital has bought a minority stake in software-as-a-service unicorn Freshworks Inc. for $85 million.
(Source: VC Circle 27 July, 2020)
Vernacular ed-tech startup Entri tops up pre-Series A funding round:
Novoy Software Pvt Ltd, which operates the vernacular language-focussed education-technology platform Entri, has raised $1.7 million in Series A funding round.
(Source: VC Circle 27 July, 2020)
Mergers & Acquisition
Haldia Petrochemicals, Rhone Capital jointly acquire US-based Lummus for $2.7 bn:
Haldia Petrochemicals & Rhone Capital together has acquired Texas – based Lummus Technology for an enterprise value of $2.725 billion (Rs 20,592 Crore).
(Source: VC Circle 01 July, 2020)
Adani to acquire Kalpataru’s power transmission project:
Adani Transmission Ltd will buy a Alipurduar Transmission Ltd, subsidiary of Kalpataru Power Transmission Ltd for an enterprise value of $170 million (Rs 1,286 Crore).
(Source: VC Circle 06 July, 2020)
UltraTech to sell Chinese cement unit for $120 mn:
UltraTech Cement Ltd, India’s largest producer of the building material, will sell its entire stake in a Chinese unit for an enterprise value of $120 million.
(Source: VC Circle 07 July, 2020)
Flipkart to buy stake in Arvind unit behind Flying Machine brand:
Flipkart will pay Rs 260 Cr to acquire a minority stake in a subsidiary of Arvind Fashions Ltd that owns by flying machine brand of denim apparel.
(Source: VC Circle 09 July, 2020)
Wipro to acquire Brazilian IT services provider:
Indian information technology provider Wipro Ltd will fully acquire Brazilian IT company IVIA Servicos de Informatica Ltda for $22.4 million.
(Source: VC Circle 14 July, 2020)
L&T Technology Services to acquire Orchestra:
L&T Technology Services Ltd, the engineering services division of conglomerate Larsen & Turbo Ltd, has signed an agreement to acquire United States based Orchestra Technology Inc. for $25 million (RS 187 Crore).
(Source: VC Circle 20 July, 2020)
Sun Pharmaceutical to acquire R&D-focussed Canadian firm:
Sun Pharmaceuticals Industries Ltd – Israeli unit has acquired Aquinox Pharmaceuticals (Canada) Inc. for $8.2 million.
(Source: VC Circle 29 July, 2020)