India: Coffee Day Enterprises public offer subscribed 75% on Day 2

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Coffee Day Enterprises Ltd (CDEL), which runs India’s largest cafe chain Café Coffee Day, saw 75% subscription for its R1,150-crore initial public offering (IPO) on the second day on Thursday. The issue is scheduled to close on Friday. According to data from BSE, the institutional investor category was subscribed 1.98… Read more »

India: General Atlantic, Bain in talks to buy MedPlus pharmacy chain

MedPlus Health Services Pvt. Ltd, the second-largest pharmacy retail chain in India, has restarted talks for a possible sell-off, after a break of almost one year, two people familiar with the development said. This time, private equity investors General Atlantic and Bain Capital are in discussions to acquire the business,… Read more »


Evan Gallagher is new CEO of ASK Group’s Singapore operations

Financial services firm ASK Group, which has $3 billion of funds under management and advisory, has appointed Evan Gallager as chief executive and executive director of its Singapore-based subsidiary. The company also plans to raise about $1 billion from investors in the United States, Europe and Asia in the next… Read more »


India Dealbook: Bounty gets seed funding from Fireside Ventures, others; Giftxoxo acquires recommendation engine Yipeedo

Bengaluru-based nano-local commerce app Bounty has raised an undisclosed amount in seed funding from Fireside Ventures, Mumbai Angels and MAPE Advisory Group. Giftxoxo, the experiential gifting platform, has acquired Yipeedo, a start-up focused on helping city dwellers to discover and book leisure activities. Nano-local commerce app Bounty secures seed funding Bengaluru-based… Read more »


India: Ezetap announces universal mobile wallet acceptance

Ezetap Mobile Solutions Pvt. Ltd, a mobile payments company, announced its universal mobile wallet acceptance, which allows offline merchants to accept customer payments from other mobile wallets like Paytm (One97 Communications Ltd), Mobikwik (One MobiKwik Systems Pvt. Ltd), Novopay Solutions Pvt. Ltd, and Freecharge (Accelyst Solutions Pvt. Ltd.) through its… Read more »


India: L&T to list five road assets via infrastructure investment trust

Larsen and Toubro Ltd (L&T) plans to list five operational road assets through an infrastructure investment trust (InvIT), a new structure cleared by the capital market regulator to ease access to funds for infrastructure developers, according to two people familiar with the development. L&T, India’s largest engineering and construction company,… Read more »


India: Hathway Cable to demerge broadband business, float a new subsidiary

Cable television and broadband service firm Hathway Cable and Datacom Ltd has decided to demerge the company’s broadband business to start a wholly-owned subsidiary, Hathway Broadband Pvt. Ltd, the company informed BSE on Thursday. Hathway Cable, promoted by the Raheja Group and one of the largest multi-system operator and cable… Read more »


India: Leveraged companies turn to private placements, as banks shut door on them

Companies in five highly leveraged sectors of the economy have used growing private placements to gorge on even more debt, even as banks have begun to shut the door on them. The funds raised in a year by power, real estate, metals and mining, roads and highways, and engineering companies… Read more »


India named top investment destination in Ernst & Young poll

India has been ranked as the most attractive investment destination in the world for the next three years with 32% of global business leaders favouring the country, followed by China, South-East Asia and Brazil, according to a survey conducted by accounting firm EY. The survey was conducted during March and… Read more »


India’s largest textile company Arvind lines up select brands for online retail

Arvind Ltd, which sells brands such as GAP Inc., Tommy Hilfiger, Arrow and Flying Machine, plans to kick-start its online business by selling some Internet-only fashion labels. India’s largest textile company plans to start with two women’s in-house fashion labels, Shuffle and Prime. The brands will compete with foreign fast… Read more »