Reserve Bank of India rejects Kotak’s proposal to reduce promoter holding


RBI has communicated to the company that PNCPS issuance doesn’t meet its promoter holding dilution requirement.

CPPIB may acquire $277m debt renewable power firm Mytrah raised from Piramal

Talks with CPPIB follow the delisting of Mytrah’s holding company from the London Alternative Investment Market (AIM) in May.

India Digest: CCI clears Adani-Ruchi, Teleperformance-Intelenet deals; Future Retail may get foreign investor

Adani Wilmar had emerged as the highest bidder for Ruchi Soya with an offer of about Rs 6,000 crore.

India Digest: Carlyle may back BDR Pharma; PE funds eye Esskay; Bain in race for Max Healthcare

Bain is looking to buy the stake from South Africa’s Life Healthcare in a deal valued between $450-$540 million.

Criticism prompts India to review its e-commerce policy draft

The changes would tighten restrictions on global giants like Inc. and Google and may bolster local startups such as digital payments provider Paytm.

India: Voice AI startup Observe.AI raises $8m led by Nexus Venture

The round also saw participation from MGV, Liquid 2 Ventures, Hack VC and existing investors Emergent Ventures and Y Combinator.

IFC seeks to invest $21m in Leap India’s fresh funding round

The investment will help the company meet capital expenditure for the next five years, grow operations, and achieve next stage of growth.

India: Auto parts maker Sansera Engineering files DRHP for IPO valued at $200m

The IPO is a pure offer for sale that will see existing shareholders sell 17.24 million shares, with Rohatyn Group looking to sell over 13 million shares.

Amazon invests another $386m in India business

The latest capital infusion brings Amazon’s total investment in India to $4 billion in its five years of operations.

Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp

Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding round.