India: Varroc Engineering $288m IPO to open on 26 June; Tata to fully exit


Tata Opportunities Fund will make a complete exit from Varroc Engineering.

Duty-free retailer Flemingo to buy PE investors’ stake post India unit IPO: Report

Samara Capital, Samena Capital from Middle-East, China Development Investment Bank, Albright Capital and Cartesian Capital Group from the US own 33% stake in Flemingo Travel.

Rising interest rates threaten to spoil Blackstone’s first India REIT listing party

Blackstone and local partner Embassy Group plan to file a prospectus for an IPO of the REIT as early as next month, a deal that may raise as much as $1 billion.

India Dealbook: Capital First, Kansai Nerolac in M&A; RentSher, Chrysalis fundraise

Through the RAK acquisition Kansai Nerolac intends to establish a competitive paint manufacturing business in Bangladesh.

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.

Vectus Industries files draft IPO with Sebi; PE investor Creador to exit

Creador entity Latinia had invested about $16.7 million for a minority stake in Vectus in June 2014.

Co-work space operator IndiQube raises $15m Series A led by WestBridge Capital

The series A round also saw participation by Ashish Gupta, co-founder of Helion Ventures.

Uber names Pradeep Parameswaran as its new India, South Asia head

Parameswaran’s appointment comes at a time when Uber is engaged in market share battles in the Asia Pacific region against local rivals such as Ola

India Dealbook: Danlaw buys Titan unit; Elucidata raises $1.7m seed funding

The acquisition will help Danlaw with a manufacturing base for products designed in-house as well as help with backward integration. 

Belgian impact investor Incofin plans $80m India-focused fund: Report

The proposed India fund is seeking a 50-70 per cent contribution from international investors, and is likely to see the first close by Q1 2019.