By Ishita Russell
Technology giant Apple and Mukesh Ambani-led Reliance Industries are also said to be eying Zee Entertainment’s stake.
The stake is expected to be valued at at least $200 million, given that Mu Sigma entered the coveted unicorn club when Mastercard invested $45 million in February 2013.
ArcelorMittal has bid 48 billion rupees ($673 million) to acquire Essar’s 1200 MW power plant in central India, one of the most prized assets in the group’s power portfolio.
Sebi has already passed an order against Fortis to recover ₹500 crore from the Singh brothers for funds diverted to the promoter and promoter-related entities in December.
The decision to raise funds through rights issues comes after the domestic lenders decided to convert existing debt into 114 million shares at a consideration of ₹1 according to Reserve Bank of India (RBI) norms.
The stake sale proceeds will reduce promoter debt which stood at Rs 284 crore as of December 2018.
As part of the deal, around 100 graphics engineers of Ineda Systems will join Intel.
After getting more than 10,000 travellers on board, the Chennai-based start-up will use “a major chunk of this fund” for brand building.
EverSource Capital is looking to invest around $100 million in Ayana Renewable Power, which operates in India and South Asian markets.
Paytm’s growing losses were attributed to the parent’s emphasis on aggressive expansion to take on bigger rivals in the e-commerce space such as Amazon and Walmart-Flipkart.