India: Cyient sells 49% stake in Infotech Aerospace to Pratt & Whitney


Cyient will receive $1.8 million after additional dividend distribution of $9.1 million.

India: Godrej Properties, Nirmal Ventures ink JV to develop suburban Mumbai project

In August Nirmal raised Rs570 crore of debt financing from L&T Finance Holdings Ltd and signed a joint development agreement with L&T Realty Ltd for a residential project.

India: IndiGo parent InterGlobe Aviation’s $616m share sale on Friday

The company set a price range on Wednesday of Rs1,125 to 1,175 a share for the sale of up to 33.6 million shares.

India Digest: Keventer, Jaiprakash Power stake sale; Kerala’s $78m fund-of-funds

Mandala Capital has acquired close around 15 per cent stake in Keventer Agro, while 11 suitors have lined up to acquire stake in Jaiprakash Power. Also, Kerala government is planning a $78 million fundof-funds. Mandala Capital acquires around 15% stake in Keventer Agro Singapore-based Mandala Capital has acquired around 15… Read more »

India Dealbook: GlowRoad raises $2m from Accel; Y Combinator backs Wheelstreet

Women-centric a customer-to-customer reseller network GlowRoad, has raised $2 million from Accel Partners, while motorbike rental marketplace Wheelstreet has received $120,000 funding from Y Combinator. GlowRoad raises $2m from Accel Partners Women-centric a customer-to-customer reseller network GlowRoad, has raised $2 million from Accel Partners in a series-A funding round, said a report… Read more »

Impact investments in India don’t mean lower returns for investors: McKinsey

Busting the myth that impact investing means lower returns, a recent report by McKinsey shows that impact investments in India have demonstrated an ability to employ capital sustainably while meeting the financial expectations for investors. This has resulted in impact investments in India topping $1 billion for the second year… Read more »

India: IPO sees demand surge on last day; Capacit’e IPO subscribed 1.32 times IPO was subscribed 4.41 times on the final day of the sale.

India: Sixth Sense Ventures in talks to buy stake in Veeba Food Services

The deal values Veeba Food Services at over $100 million (about Rs650 crore).

India: Sachin Tendulkar-backed Smaaash raises $43.7m

Edelweiss Group’s NBFC ECL Finance invested Rs258 crore (about $40m) through debt.

India: Zomato acquires delivery startup Runnr

The deal also hands out a lifeline to Runnr which has struggled to raise funds in the recent past.