India Dealbook: Elevar-backed companies merge; Wipro, Babilou in M&A deals


Agritech startups Sabziwala and LivLush, both backed by Elevar Equity, have merged their businesses to form a new entity called Kamatan.

India: Edelweiss calls off deal to buy Religare Enterprises’ securities biz

The deal had been terminated for want of necessary approvals.

Indian IPOs break all records with offers worth $2.3b in pipeline in March

IPOs worth Rs82,500 crore are expected to be completed in FY18, double the previous record in FY08.

SoftBank leads $62m round in Indian online grocer Grofers: Report

Grofers last raised $120 million at a valuation of about $400 million in November 2015.

India: Brokerage firm ICICI Securities to launch $618m IPO on 22 March

ICICI Securities has set a price band of Rs519-520 per share for the IPO.

Analysts say Hindustan Aeronautics IPO, opening March 16, is attractively valued

The company has set a price band of Rs1,215 to Rs1,240 per share for the IPO, which closes on 20 March.

Russia’s VTB-led consortium open to buying out Ruia in Essar Steel race

The consortium led by VTB is up against ArcelorMittal, the world’s biggest steelmaker, that last month submitted a higher offer than the former.

This newly minted billionaire manages fortunes of India’s new rich

Mumbai banker Nirmal Jain’s $20 billion private-wealth-management unit IIFL Holdings became India’s biggest by assets and helped make him a billionaire.

Xander Finance to provide $20.8m debt for Kolkata Trump Tower project

Trump Tower on Kolkata’s EM Bypass is being developed by Unimark Group, RDB Group and Tribeca Developers, with 136 high-end residential units spread across two acres.

India: General Atlantic in talks to buy Ching’s Secret maker Capital Foods

General Atlantic is reportedly in advanced talks with Capital Foods and is likely to acquire an about 80% stake in the company.