Malvika Joshi

IIFL arm looks to raise $109m from institutional investors

IIFL said its board has approved raising fresh capital from HDFC Standard Life Insurance Co. Ltd, General Atlantic Singapore Fund Pte Ltd (GA) and Steadview Capital Mauritius Ltd, among others, for a 5.1% stake dilution.

UK’s CDC Group invests in IDFC Alternatives’ third PE fund

CDC’s entry provides an exit to some of the existing limited partners (LPs) of IDFC Alternatives.

Binani Cement lenders back UltraTech’s offer as legal battle reaches India’s top court

The acquisition of Binani Cement will, however, be subject to the Supreme Court’s ruling, with a Dalmia Bharat Ltd-led consortium challenging the 15 May order of the National Company Law Appellate Tribunal that allowed lenders to consider UltraTech’s revised offer. The offer was submitted after lenders selected Dalmia as the top bidder.

Adani in talks to buy Shree Renuka Sugars from Singapore’s Wilmar

Wilmar Sugar, a subsidiary of Singapore-based Wilmar International, owns a 39% stake in Shree Renuka.

APAC Financial in talks to raise $44m from PE firm Multiples

APAC Financial Services is a non-banking financial company founded by Deutsche Bank’s former Asia Pacific chief Gunit Chadha.

PE firm Kedaara eyes exit from India’s Manjushree Technopack

The private equity firm has hired Citigroup to handle the exit mandate.

India: Kedaara Capital, Partners set to acquire Vishal Mega Mart for $735m

Kedaara-Partners Group will buy the retailer from TPG Capital and Shriram Group.

India: Lenders set to back ArcelorMittal’s bid for beleaguered Essar Steel

ArcelorMittal had submitted a higher bid than Numetal for Essar in the first round.

Blackstone, Warburg in talks for minority stake in India’s Max Financial

Max Financial Services, led by billionaire Analjit Singh, is raising money to finance a potential acquisition by its life insurance unit Max Life Insurance Co. Ltd.

Dubai’s Relam plans real-estate, tech investments worth $250m in India

Relam Investment is an equal joint venture, or JV, of Dubai’s Vault Investments LLC and Vietnam’s MIG Holding.