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M&M Acquire More Stake in MITRA Agro For $1 Million

12Mar By AnkitaNo Comments

ACQUISITION

M&M Acquire More Stake in MITRA Agro For $1 Million

M&M has signed a share purchase agreement to buy additional 34,249 equity shares of MITRA Agro Equipments Pvt Ltd, an associate of the company, from its existing shareholders. The company currently holds 26 percent of the equity share capital of Mitra, and after the completion of the above transaction, it will hold around 39 percent of the equity share capital of Mitra on a fully diluted basis, Mahindra & Mahindra said in a filing to the BSE. The purchase of additional equity shares in MITRA Agro Equipments Pvt Ltd would support the company's farm equipment business in the horticulture sector, it added. After the acquisition of equity shares, Mitra would continue to remain an associate of the company, Mahindra & Mahindra said. The purchase at which these shares are ...

Mumbai Based Payments Entity Acquires 5% Stake in Infibeam for Rs 25 Crore

18Dec By Gauri SinghNo Comments

ACQUISITION

Mumbai Based Payments Entity Acquires 5% Stake in Infibeam for Rs 25 Crore

Suvidhaa Infoserve which is a payments entity based in Mumbai has acquired 5% stake in the popular online e-commerce and payment solution company Infibeam.com. The deal has been valued at Rs 25 crore.Infibeam Avenues which owns Infibeam.com said that its board of directors has entered into a binding MoU with Suvidhaa which has around 90,000 retailers for money remittance and other services across the country.Through this association and partnership, the company will enter into a strategic partnership with Suvidhaa for last mile delivery of products and services. Also, Suvidhaa will leverage the offline presence to sell products for Infibeam and in turn, Infibeam will get access to far off locations to sell its products through the assisted model.Slowly, the...

Berkshire Hathaway Looking to Pick up Stake in Kotak Mahindra Bank

7Dec By PriyankaNo Comments

Market

Berkshire Hathaway Looking to Pick up Stake in Kotak Mahindra Bank

As per the report, Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in India's Kotak Mahindra Bank. Berkshire Hathaway may invest between USD 4 billion and USD 6 billion in the lender by buying promoter stake or through a preferential allotment. Following the news, the stock of kotak mahindra which opened on a positive note, further jumped 13.86 per cent to the hit an intra-day high of Rs 1,345.35. At 1330 hrs the stock was trading at Rs 1,239, up 4.87 per cent from the previous close. On NSE, following a similar trend, the stock soared 14.03 per cent to Rs 1,345.95, its highest during the day. It was quoting at Rs 1,238.35, an increase of 4.92 per cent from the previous close, at 1330 hrs. The Reserve Bank had earlier asked promoters of the bank to b...

26Oct By Gauri SinghNo Comments

ACQUISITION

Korean Razor Giant Dorco Acquires 10% of LetsShave

Korean razor giant Dorco Ltd picks up 10% stake in an Indian startup LetsShave in Series –A funding. The deal is significant investment for the ecosystem as this is for the first time that global giant has invested in an Indian men’s and women’s grooming product range startup. Founded in 2015, LetsShave claims to have more than 4,50,000 customers base and has been growing at 45% YoY ever since. The startup began with about four products and is now selling 22 products and plans to expand to 40 products in the near future. They have a very strong supply chain that delivers almost everywhere in India. LetsShave claims to have a high repeat rate of customers. In recent years, Indian FMCG companies picked up stakes in grooming & cosmetic startups. In 2017, Marico acquired 45% stake...

Ebix Acquires 67% Stake in Delhi-based B2B Marketplace

24Oct By Gauri SinghNo Comments

ACQUISITION

Ebix Acquires 67% Stake in Delhi-based B2B Marketplace

Ebix Inc has reportedly acquired 67% stake in a Delhi-based B2B marketplace called Routier for trucking logistics. Routier is the first start-up where Ebix has made a strategic investment. Ebix is basically a Nasdaq listed international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. On the other hand, Routier is a cloud-based technology to change the way people move and receive inland goods in India. This particular deal has been taken forward by one of its India-based EbixCash subsidiaries. Routier was founded by Ankur Dahiya and Adwait Vikram Singh who are the first generation entrepreneurs and operating team senior executives. The company expects to revolutionize trucking logistics in the same way taxi logi...

Amazon to Take up Stake in Kishore Biyani’s Future Retail

18Oct By Gauri SinghNo Comments

ACQUISITION

Amazon to Take up Stake in Kishore Biyani’s Future Retail

The e-commerce giant Amazon is all set to acquire a stake of just under 10% in Kishore Biyani-led Future Retail. The deal is likely to be approved by the latter’s board on October 29. The retail major is expected to pick up shares through the foreign portfolio investors route at a hefty premium to the prevailing share price for gaining business exclusivity and future shareholding rights. Future Retail shares ended 14% higher at Rs 494 apiece after television channels stated that Amazon was going to buy a 7-8% stake in the India-based company. Future Retail that operates Big Bazaar and Easy Day supermarkets would reach Rs 25,000-crore market value after this deal. Amazon’s investment has strategic underpinnings and could evolve alongside regulatory and business developments. The Se...

Energy Giant Total Acquires Stake in Adani Group

15Oct By Gauri SinghNo Comments

ACQUISITION

Energy Giant Total Acquires Stake in Adani Group

France-based energy giant Total is eyeing to acquire half of the stake of Adani Group in LNG projects in Gujarat and Odisha. Along with this, the company will also purchase stake in an under-construction LPG import facility and in its city gas projects. Total seems to be showing interest on investing in fast growing gas market in India and finds Adani as a suitable vehicle since it owns crucial downstream infrastructure. The company is in talks to acquire 50 percent stake in the under-construction LPG import terminal that Adani is building at Mundra in Gujarat as well as a stake in Adani’s flourishing city gas distribution projects. India is looking forward to increasing the share of natural gas in its energy basket to 15 percent in the next few years. Along with this, the country...

Tesla’s Second Largest Shareholder Acquires Stake in Rival Nio

10Oct By Gauri SinghNo Comments

ACQUISITION

Tesla’s Second Largest Shareholder Acquires Stake in Rival Nio

The second largest shareholder of Elon Musk’s Tesla called Baillie Gifford has now acquired 11.44 percent stake in Chinese electric vehicle automaker Nio which is Tesla’s rival. The company disclosed that it had purchased 85.3 million shares, which were valued at about $515 million as of the close of trading Monday. Baillie Gifford is the largest outside shareholder of Tesla stock. CEO Elon Musk, Tesla’s largest shareholder, own about 20 percent of the company. The filing pushed shares of Nio to close at $7.39, up from its opening of $6.19 this morning. Nio wants to become the Tesla of China and beyond. The company has operations in the U.S., U.K. and Germany, although it only sells its ES8 vehicle in China. Those tariffs, plus other costs like shipping Tesla vehicles overseas, is...

Gaja Capital Acquires Stake in Sports Education Firm KOOH

5Oct By Gauri SinghNo Comments

ACQUISITION

Gaja Capital Acquires Stake in Sports Education Firm KOOH

India’s private equity fund Gaja Capital has reportedly acquired a significant minority stake in sports education and training company KOOH Sports. The deal was worth Rs 75 crore ($10 million). Following the acquisition, Gaja will invest through a mix of primary and secondary stake buy, where a few of the existing investors will make a part exit. Existing investors altogether carry a 70% stake in the company and the rest is held by promoters. KOOH that stands for kids-out-of-home was launched in 2010 by founders of Intelenet Susir Kumar and Prabhu Srinivasan. The company offers sports education to 2,00,000 children across India currently. It has existence across 50 cities. "Youth sports is a $20 billion business globally and we believe it to be at an inflection point in India. As In...

Reliance Industries Acquires 37.4% Stake in California’s AI Startup

27Sep By Gauri SinghNo Comments

ACQUISITION

Reliance Industries Acquires 37.4% Stake in California’s AI Startup

Reliance Industries has invested an amount of $8 million in California-based NetraDyne. NetraDyne is an artificial intelligence company that focuses on the driver and commercial fleet safety. Prior to this, Reliance invested $16 million in June 2016 in the startup, thus, this marks as its second investment in the firm. With this investment, Reliance now has taken over around 37.4% stake in the startup. According to the statement, the investment was made through its subsidiary Reliance Industrial Investments and Holdings (RIIHL). It has subscribed to 4.06 million shares (4,058,647 shares) at Rs 1.9711 per share. Reliance said this investment has potential synergies with its "digital services and communications initiatives, apart from commercialization benefits in India." NetraDy...

LIC to Pick Up a Stake in State-owned IDBI Stake

29Aug By Gauri SinghNo Comments

ACQUISITION

LIC to Pick Up a Stake in State-owned IDBI Stake

Indian state-owned insurance group and investment company LIC (Life Insurance Corporation) has decided to pick up a further 7% stake in the government lender IDBI Bank through a preferential issue. LIC already holds a stake in the bank which is equal to 7.98% and it is moving towards acquiring more of it. Lately, IDBI Bank’s capital adequacy ratio fell largely to 8.18% as on June end, below the regulatory requirement of 9%. This move, however, will help the lender to improve its capital adequacy ratio. “It is advised that the bank has received a letter dated August 28, 2018 from Life Insurance Corporation of India giving their in- principle approval for subscription of the equity shares on preferential basis subject to their total exposure not exceeding 14.90% of post-issue capital of ...

Berkshire Hathaway Eyeing to Acquire Stake in Paytm

27Aug By Gauri SinghNo Comments

ACQUISITION

Berkshire Hathaway Eyeing to Acquire Stake in Paytm

Warren Buffett’s Berkshire Hathaway is looking to acquire a stake in Paytm’s parent company One97 Communications Ltd. The amount that the company is eyeing to invest is around Rs 2,000-2,500 crore. This investment if implemented would be the first direct investment in India by the legendary billionaire investor. It has been reported that the transaction could be completed in the coming weeks valuing Paytm at over $10 billion and giving it more lift. “Berkshire is in talks to pick up a 3-4% stake in the company and it is being done through a primary subscription of shares,” said one of the people familiar with the matter. Paytm had been in talks with Berkshire Hathaway since early February regarding this matter and the deal is just about t0 take place. The most important investors of ...